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Cable Update (GBPUSD)

  • #449,281
  • Feb 9, 2017 1:57pm Feb 9, 2017 1:57pm
We're heading down some for the time being it seems. I'm also trading H1 time frame.
trading GoldH4, EuroH1, and PoundH1 Futures and FX skype:fxtraderpro1
  • #449,282
  • Feb 9, 2017 2:30pm Feb 9, 2017 2:30pm
Quoting elbert3
{quote} Who needs chart ?? Lol and that all started this morning off 1 min doji to Around your 61% on your chart and res to the left as posted from my I phone . Trade of the day and if it hits 2300 I get the trophy lol regards B
The world you desire can be won. It exists.. it is real.. it is possible..
  • #449,283
  • Edited 3:21pm Feb 9, 2017 2:59pm | Edited 3:21pm
Another typical AB CD bull trap after the London's open.
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  • #449,284
  • Feb 9, 2017 3:13pm Feb 9, 2017 3:13pm
Quoting Mr. Scott
{quote}
Short 2502 sl manage 2485 2450
  • #449,285
  • Feb 9, 2017 3:18pm Feb 9, 2017 3:18pm
My charts are pointing towards a move northwards, next.

A re-test of 1.07 - any thoughts?

EDIT - apologies, wrong forum.
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  • #449,286
  • Feb 9, 2017 3:30pm Feb 9, 2017 3:30pm
Quoting Luzbay
My charts are pointing towards a move northwards, next. A re-test of 1.07 - any thoughts?
On the EUR/USD you have a breakout of the trendline AND a Head and Shoulders formation already in progress.
It is impossible to be more bearish than than hahaha
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  • #449,287
  • Feb 9, 2017 3:34pm Feb 9, 2017 3:34pm
Quoting Mr Breakout
{quote} On the EUR/USD you have a breakout of the trendline AND a Head and Shoulders formation already in progress. It is impossible to be more bearish than than hahaha {image}
But no thoughts on a short term retest of 1.07?

1.0620 is pretty solid support.
  • #449,288
  • Feb 9, 2017 3:48pm Feb 9, 2017 3:48pm
Quoting Luzbay
{quote} But no thoughts on a short term retest of 1.07?
Sure, the euro could (should?) pullback to 1.0730, a good resistance level for two reasons : it is both the breakout point of the trendline and the price where the neckline of the H&S is located.
  • #449,289
  • Feb 9, 2017 4:15pm Feb 9, 2017 4:15pm
One has to take care here as even thou 2500 was broken it has a tl that could see 2530 area could is the word so yo would need a big sl if you trade it . Only say this as one could think it's going long again . So we make a note of this possible move and if it does you would look for a sign to short it and not go long ??? Might souls a bit mad but the day chart did just the thing . Ask Bones I posted to him
  • #449,290
  • Feb 9, 2017 4:23pm Feb 9, 2017 4:23pm
Quoting Mr Breakout
Bought GBP/AUD 1.6410, 35 pip stop.
This position was closed at break-even, after the market moved 75 pips in my favor.
By default, all my day-trades have a 25 pip break-even circuit breaker.

The reason is very simple: most of the time, when the market moves 25 pips or more in my favor and revisits my entry point later, it usually hits the original stop.

In fact traders can learn a lot if they take the time to study the typical behavior of their losing trades...
  • #449,291
  • Feb 9, 2017 4:33pm Feb 9, 2017 4:33pm
hello all

just thinking about below possibility .....good luck...
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  • #449,292
  • Feb 9, 2017 4:39pm Feb 9, 2017 4:39pm
The GBPUSD rallied close to the 1.2600 level, but drops rapidly towards the 55 day EMA. For now there is no clear direction and the pair may just consolidate around current levels.
  • #449,293
  • Feb 9, 2017 5:04pm Feb 9, 2017 5:04pm
Ok, so what's left on the "menu" for today?
Australian Home Loans report plus the Reserve Bank of Australian Statement on Monetary Policy, both at 7:30 PM EST.

So, again, the action should take place on the GBP/AUD, for all of you news traders out there.

Alrighty then, let's see what this pair is up to...
  • #449,294
  • Feb 9, 2017 5:06pm Feb 9, 2017 5:06pm
Quoting trademark
The GBPUSD rallied close to the 1.2600 level, but drops rapidly towards the 55 day EMA. For now there is no clear direction and the pair may just consolidate around current levels.
Everything is kind of out of the loop right now. Consolidate for some time seems reasonable unfortunately.
trading GoldH4, EuroH1, and PoundH1 Futures and FX skype:fxtraderpro1
  • #449,295
  • Feb 9, 2017 5:09pm Feb 9, 2017 5:09pm
Quoting carguychase
Consolidate for some time seems reasonable unfortunately.
Yep, Asian session = consolidation (most of the time).
However, we could see some more selling pressure on the cable, it's not over yet, or so it seems...
  • #449,296
  • Feb 9, 2017 5:11pm Feb 9, 2017 5:11pm
you guys
so 2016 post a chart or elaborate
ask me if its going 12300 the answer is no

Quoting carguychase
{quote} Yeah a lot would have to happen for this and it's really out of the picture right now. I'm looking at 200 pips downward.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,297
  • Feb 9, 2017 5:13pm Feb 9, 2017 5:13pm
I know this with high probability
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,298
  • Feb 9, 2017 5:23pm Feb 9, 2017 5:23pm
Quoting Bones
ask me if its going 12300 the answer is no {quote}
Still bullish GBP/USD, eh?
You never quit do you?
My friend, look at this chart and tell me what could possibly prevent the cable from going to parity with the USD...
Cordially.
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  • #449,299
  • Feb 9, 2017 5:25pm Feb 9, 2017 5:25pm
if this candle takes that big one id be amazed
its not big enough to do it one fail swoop , range is seen
doji cross is seen w1 right now
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,300
  • Feb 9, 2017 5:29pm Feb 9, 2017 5:29pm
lol I dont have the time I already said not in 2 weeks would you see that low and selling would be picked up
now nay sayers have 1 day to show im wrong
btw im not wrong haha

Quoting Mr Breakout
{quote} Still bullish GBP/USD, eh? You never quit do you? My friend, look at this chart and tell me what could possibly prevent the cable from going to parity with the USD... Cordially. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
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