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Cable Update (GBPUSD)

  • #448,981
  • Feb 4, 2017 1:48am Feb 4, 2017 1:48am
GJ is the dumbest pair invented, by far...to say I hate it its an understatement....

C is a damn good level however me thinks, it is rather close...I'd prefer we go down, maybe kiss it, leave some wick on the hourly or 4hr, then back down.....

A and B are good levels also, both are in bearish weekly and daily candles...

D and E are decent, but they are in an area that is tough to read, and by the time we go down there, we prolly will have some better resistance to short.....I'll prefer to take any levels in the yen or cable first however....
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Look Sharp/Trade Tight
  • #448,982
  • Feb 4, 2017 1:54am Feb 4, 2017 1:54am
have a good weekend, PTL...
Look Sharp/Trade Tight
  • #448,983
  • Feb 4, 2017 4:52am Feb 4, 2017 4:52am
Quoting PayTheLimit
have a good weekend, PTL...
Lol, have a great weekend bud,,,,,,,,,,,,,,, for grins and chuckles I put a couple lines on your chart for ya, just my opinion but wouldnt be looking for places to buy atm ,,,,,,,,,,,,,,,,, yen pairs are starting to look like sell the rallies across the board , Im biased that way tho , short from 143.05, lol those lines are my tgts , anyhoo, didnt want ya to think you where talking to yourself , cheers man
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  • #448,984
  • Feb 4, 2017 5:59am Feb 4, 2017 5:59am
My early weekend analysis agrees with the above. By Wednesday, I think we'll see the following --

For GBPUSD, I see a gap up and rise to around 1.25, then down to 1.2412.

For EURUSD, I see it down to 1.0650.

For USDJPY - my pick of the trades - I see it opening slightly up and then a run to 114.50. This is the trade I'll focus on.
  • #448,985
  • Feb 4, 2017 6:12am Feb 4, 2017 6:12am
let me say this still red week ,this channel ive posted respected to the t

Quoting Bones
$ prints red only I believe when I see {image}
Quoting Bones
http://www.forexfactory.com/showthre...67#post9463867 possible back up chart {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,986
  • Edited 7:03am Feb 4, 2017 6:23am | Edited 7:03am
with gbp I see engulf ,with problems im gonna see how it opens
that engulf is up against previous
close on close ,on major pivot
aud usd is at 7700

I may focus gbp aud long on pa
it respects gaps which lately there been many
main criteria is 1.6 holds
a weekly reversal there is to be believed
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,987
  • Feb 4, 2017 6:27am Feb 4, 2017 6:27am
Quoting Mr Breakout
{quote} Yes, but making money with less stress and less "work" is even better. That's why I strongly believe in keeping things very, very, very simple. Thousands of backtests have shown that simple trading systems are more robust and more profitable than "complicated" systems. The famous Turtles made millions and millions with a simple Donchian system (buy when the market makes a new X days high and sell short when it makes a new Y days low). That's it. And yet most traders will never believe that it is possible to make money with such a "childish"...
Different market conditions require different techniques, do not know if turtle systems still work in today's markets but yeah, in general simple and disciplined beats the hell out of the fancy shenanigans ...
Fix up, trade sharp ...
  • #448,988
  • Edited 7:18am Feb 4, 2017 6:55am | Edited 7:18am
finally really big picture level were at
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,989
  • Feb 4, 2017 7:00am Feb 4, 2017 7:00am
Quoting PayTheLimit
{quote} B is too close right now for a short me thinks. Plus I would prefer we make a LL first. Same for A, although A is far enough that if we went strait back up there I might take a flyer. Both A and B are in that daily bearish engulfing candle from Thursday. Stops, lately I've been using 20 pips for cable, but tightening then pretty quickly... TP, will depend on what other resistance has formed at the time I get filled, but lately I've been aiming for quick scalps, 20-30 pips....
Awsome stuff, I will plot these levels on my chart and see how we go. If we break C and see a retest of C I'll probably short. If C holds I'll long.
Same with A, your right about B I think it's too close.

Have a good weekend!
  • #448,990
  • Feb 4, 2017 10:49am Feb 4, 2017 10:49am
What we got .? Day chart looks like candle has broke tl and closed . So we look fo bottom tl attraction ? On the day I don't have one . Why because it wants to make a lower one than 2410 but that new 2410 if if it db will become that tl ? Hard to follow ??? So now if that goes we look to fin ext 2704 to 2410 . Can somebody post theirs ... Ivan get 61% at 2307 . 100% is interesting as it is in conjunction with a breakout and test at about 2244 ! 161% I can get 2160 now look on the weekly you see 2244 area is a bull candle breaking above its previous red candle ?? Is that the support ??? I think it will tail down to 2160 and body close 2244 them up to 230 area 1.2908 that meets a tl and look left that number actually is the sept 2016 major Sr breakout the 161% I get 3273 again look left on the weekly its August confirm resistance to the body of the big Britx candle . Few I hope that was not wasted I have nothing below 2000 if it goes that way replan . You can print this off and look yourself . If I am wrong please say so it will make interesting reading .!! That's my neck on the line if it comes true you should be able to buy a Bentley convertible
  • #448,991
  • Feb 4, 2017 10:58am Feb 4, 2017 10:58am
Interesting note 261% ext of the bottom and the Britx candle Come out 2.020
  • #448,992
  • Feb 4, 2017 11:12am Feb 4, 2017 11:12am
If you squeeze your monthly chart Down to 2000 year the pound broke on the third the bottom support at about 1.355 if that confirms to that number that closers the Brit gap will it then go down to 1.000 something to think about . We that's enough going to s ball tonight so it's lets get ready to rumble . Take care or take anything you can
  • #448,993
  • Feb 4, 2017 3:03pm Feb 4, 2017 3:03pm
on the same theme gbp lfx week -bear engulf above
if you look at the pattern at the top where wick was a problem very sim set up here where its poss outright fail
this candles different running into that really odd gap up fall set up

I can see res to the left and its under broken tl
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,994
  • Feb 4, 2017 3:11pm Feb 4, 2017 3:11pm
Quoting Bones
on the same theme gbp lfx week -bear engulf above if you look at the pattern at the top where wick was a problem very sim set up here where its poss outright fail this candles different running into that really odd gap up fall set up I can see res to the left and its under broken tl {image}
Still think you english is awful, but i could decode "week -bear engulf".. so..

Have a look, that are my thoughts. Painted it 5 min before
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How to opt out annoying user signatures ??
  • #448,995
  • Feb 4, 2017 3:20pm Feb 4, 2017 3:20pm
could be -range to bearish lower before higher have to see open
English is my mother language !
I don't speak any other though I wish I could lol
maybe im not the best at conveying in writing I can't spell at all

Quoting Toranaga
{quote} Still think you english is awful, but i could decode "week -bear engulf".. so.. Have a look, that are my thoughts. Painted it 5 min before {image} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,996
  • Feb 4, 2017 3:31pm Feb 4, 2017 3:31pm
Ok, thanks for the answer.

Cant await till next weeks starts.

Mhhh...

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  • #448,997
  • Edited 5:25pm Feb 4, 2017 5:13pm | Edited 5:25pm
that lower gap is a major bear problem
you cant possibly think through it at this point time will tell ill be right
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,998
  • Edited 5:44pm Feb 4, 2017 5:31pm | Edited 5:44pm
Quoting Mr Breakout
{quote} Pound going to parity with the US dollar is indeed a real possibility...
Â
Yep
It'll take some time...
Here's my little offering only 2.99....
Â
Quoting zamans98
weird some low IQ people comes bashing CABLE when he/she is not trading it.
Â
Was that about me??

I'm just trying to help. I do look at it for scalping purposes (soon) and for indicator.
Â
See, i didn't rebuke earlier because i thought you are angry for losing money (longs).....
No longs in pound is my only rule.Â
Since the last fiasco i guess I was right....
Â
Anyway, i want to say let's trade with more fun less hostility. Green pips.
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Beware of robber banks (RB), bad advisors.
  • #448,999
  • Feb 4, 2017 8:49pm Feb 4, 2017 8:49pm
On the downside... If we break D I will wait for retest of D,C and enter short 3 targets (E,F,PTL-G)

However I think we need to see some correction first.. So maybe a gap up on monday and if price gets to A (or the purple line just above it) I'll unload some shorts.

Below the purple line I'm shorting above the purple line I'm buying.
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  • #449,000
  • Feb 5, 2017 3:14am Feb 5, 2017 3:14am
I expect the sideways trading to continue.
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