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FXTrader

Gbp/usd

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Good morning! If you shorted the euro near 1.4700, you're a happy camper now. While that trade is working my attention is drawn to the cable. I'll be looking to get long near 2.0450 and 2.0400. Yesterday and last night there were some nice bounces off 2.0500.

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Not sure of your time zone on that potential trade, but wouldn't that upside s&r flip at 2.05 need to be negotiated & tested first to check any supply lurking atop that level?

 

There's a recent well traded channel under here from October that looks like it's tempting price back inside. Could be a bit of a banana skin for pre-emptive longs around here.

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The trade setup was sent out just after the NY open Price was testing the initial Value Level 2.0450 and went up to 2.0500. There were a few chances at that trade before it went down during the Asian session and hit the second Value Level area of 2.0400 and came back up to the 2.0450 area. As you pointed out, support does turn into resistance many times but only when the conditions are right.

 

2.0500 could still act as a strong resistance but because of where we are at with these Value Levels I think it'll break. If not, that's ok too, because the long from the 2.0400 area is a free trade now.

 

It's important to note that these Value Levels target key turning points in the market and are extremely accurate. They usually pull in 100 plus pips. If it's a trend trade then you can let them work and you can get several hundred pips. Pay close attention to these levels and learn to trade around them.

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1) As you pointed out, support does turn into resistance many times but only when the conditions are right.

 

2) It's important to note that these Value Levels target key turning points in the market and are extremely accurate.

 

3) Pay close attention to these levels and learn to trade around them.

 

Could you maybe expand a little on the above comments at all? especially the 1st & 3rd paragraphs above.

 

I'd be interested in hearing your views on who or what determines these value levels & which of the various market participants consider them to be accurate. Interesting points though!

 

I agree, conditions effect the behaviour of price at specific area’s or zones. And there are smart operators working their edge at varying levels up & down the price grid. So, I guess value & conditions mean different things to different participants.

 

For instance, as an aggressive spec I’m certainly interested at these round number levels down here at this previous accumulation zone. But only because of the heightened (prev) activity it attracted & the fact it harbours decent each-way traffic. That alone ensures I can work my patch efficiently as long as that (psychological) activity remains heightened.

 

My buddies trading further out have no interest whatsoever in relinquishing their shorts until this lower top behaviour signals it’s done & dusted.

 

First signs of that would be a willingness to hold & base off one of these lower steps down here, with 2.05 maybe showing initial signs.

 

I guess we all nurture our own views & interpretations of what constitutes value & reasonable risk, otherwise it would be a very boring marketplace.

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Could be wrong Andre, but it smells like a Sam Seiden or Scott Kaminski/Marketwise supply-demand thingy?!

 

All well & good etc, but I'll take the "extremely accurate" pronouncements with a large swig of malt.

 

I don't have any problems with the concepts & foundations of what these fella's teach at all, after all it's based on smart observation. But it aint all fluffy & straightforward as they make out.

 

Give me a multi dimentional technical graph & a well lit peak/trough grid anytime of the day (on any timeframe you care to offer it on).

 

Let the supply-demand grunts lead the attack & cut a swathe through the brambles.

 

I'm more than happy to sit in behind them & let them take the flak ;)

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That maybe so Mr Krantz, I guess all will be revealed in the fullnessss of time.

 

What interests me more however, is how comes you got promoted so swiftly to the rank of premium trader with a trading I.Q of only 5% & a measly contribution of a dozen posts :confused::confused: :\

 

You in the pocket of the site admin per chance? Pulling your usual underhand tactics?

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You in the pocket of the site admin per chance? Pulling your usual underhand tactics?

 

Nope.

 

They simply recognize (& it reflects) the revered, confucius like quality of the contributions young man! Keep plugging away & you'll too earn your trading stripes grasshopper! :o :o

 

“It aint what you say it’s the way that you say it - and that’s what gets results†da de da de de, de da…..

 

Hell, I got those Bananarama chicks spinning around in my head now. The blonde one looks hot though in that teeny, little black number :cool:

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You’re a goddamned disgrace sir. :doh:

 

You’ll be telling me you (front ran) longed that momentum/confirmation? candle down there at the 0360 shunt next :o

 

If you did, mind the gap – those hairy assed pound bears haven’t done feeding yet!...or maybe it's a double bluff & you actually got yourself a decent leg in for a change? :haha:

 

Bring on the TIC(s) as quick as you like, lets spill a little more blood & then kick the weekend into action!

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Yep. You got exactly what you wished for today buddy boy. Lower highs & lows still rule the grid.

 

We're smack in the midst of your aforementioned accum range. Shorts still have the upper hand into todays numbers.

 

They'll run this north into New York Andre, so I'm going to hang onto the long.

 

If I don't Anna-Maria will skin my hide :o

 

I'd rather take flak from you than have her hollerin in my ear!

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We're smack in the midst of your aforementioned accum range.

 

They'll run this north into New York Andre, so I'm going to hang onto the long.

 

 

Well called & played my good man!

 

Yes indeedy, you & those demand/support grunts inside this feeding range have yourselves a cute little pre-numbers party.

 

0460-0500 now pays the piper & begins to spook the shorts again!

 

It remains neutral-bearish however until that upper level folds. Holding the short-term longs gives you nothing but neutral risk into the numbers/wend.

 

Swap your longs for Anna's shorts?? :)

 

Go on, you know you want to really ;)

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0460-0500 now pays the piper & begins to spook the shorts

 

It remains neutral-bearish however until that upper level folds. Holding the short-term longs gives you nothing but neutral risk into the numbers/wend.

 

 

Yoooo hooooo

 

Anyone home here? Or are y'all catching a lunchtime nap?

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Shoo, shoo off there & take your smelly demand buddies with you.

 

There's no scraps here for your kind.

 

Be away with you, until these well fed London bears close their doors for the week!

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Hee hee hee, nice Daddy Bear clip.

 

You flatter me with the entry grasshopper! Alas, I'm not so brave ;)

 

Remember, I court & flirt with the intent. Most important.

 

Gotta prove itself first

 

2/3rds banked at your doji line - 1/3rd at the b/e. Your angry daddy bear doesn't scare me that much yet junior.

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Be away with you, until these well fed London bears close their doors for the week!

 

Bang on cue, London packs up it's bags & the kids come out to play!

 

Nice book & hold Krantzy, beers on you tonite then ;)

 

Toodle pip.

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They'll run this north into New York Andre, so I'm going to hang onto the long.

 

If I don't Anna-Maria will skin my hide :o

 

I'd rather take flak from you than have her hollerin in my ear!

 

:o Barks worst than the bite. Isn't it??

 

Nice trade to carry over into next week though. All it needs is a cursory glance back toward 2.0450 into early Tokyo trade Sunday, & it's up up & away.

 

Continued dour news still hanging over the buck, ought to be enough to kick these 2 European heavyweights higher from here I would have thought.

 

I concur with FXTraders comments: 2.0400-50 are pretty neat purchase order tickets on the Pound.

 

Euro buy orders back to the premier 240m higher low s&r step (1.4525 thru 4580) have paid, & will continue to pay dividends too.

 

Thoughts anyone?

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Nice trade to carry over into next week though. All it needs is a cursory glance back toward 2.0450 into early Tokyo trade Sunday, & it's up up & away.

 

Thoughts anyone?

 

Lick your paws well Senor Krantz, coz the cream quickly sours ;)

 

This gig is being orchestrated by the 'risk on, risk off' conductors & will amplify (knock onto) you guy’s via the jerky & erratic swings.

 

I see plenty of ambush alleys & “smart�! money muggings laying ahead. I don’t care what the money professors say, Pound Bulls still got their work cut out.

 

This is still (just) a jobbers market Annie Oakley & nervous money is clearly exposed.

 

Psychology, Price Action, Money Flows, Psychology, Price Action blah blah

 

It’s hotting up……………………………………….Bring it on!!!!!!

 

Whatever you do kids, honor the trend……………but which one :confused: :\

 

Join me in the Yen (cross) whirl pools. C’mon in, the waters luuuuuuvly

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Remember, I court & flirt with the intent. Most important.

 

Gotta prove itself first

 

First off: Apologies to FXTrader for soiling this Cable thread with chop suey fast food......................but it'll be a brief dalliance (on here), promise!

 

Pop your $ majors in the back pocket & come play the skid pan which is Geppy.

 

Fast action, slippery lap poles & easy women!!

 

It luuuuvs the s&r zones. Luuuuuvs em I say ;)

 

Faint (feint) hearts never won fair maiden

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Hi Anna-Marie and Milliard! I see you both are still lurking about on this forum, thought you left us. It has been a while since I last been active on the forum since I'm moving to forex almost exclusively (better hours for me, London to NY, then before Tokyo close). Since then, I moved out just trading only Cable. It's been an eye opening experience to trade different pairs, making the work more challenging but fun nevertheless.

 

Hope I get to contribute a little bit to the jawboning (ha ha love this word!).

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Hello torero,

 

Nice to see you again. Yeah, we're all still breathing....just!

 

Been an eventful year. But we're edging into wind down mode for 07, so popped in to see whats occuring in the real world ;)

 

Good for you (f/t), hope it continues to treat you fine. That old Cable can be a bitch and a half at times huh? Treat her mean & keep her keen :o

 

Look forward to breaking bread & wine with you on here.

 

gl & gt.

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Yep, when it goes, it sure goes with a bang. Amazing, same time last year when all hell breaks loose just like last December when it neared the 20-year high. Let´s see if it delivers more movements before xmas for more presents on the trees, hee hee.

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Lick your paws well Senor Krantz, coz the cream quickly sours ;)

 

This is still (just) a jobbers market Annie Oakley & nervous money is clearly exposed.

 

Whatever you do kids, honor the trend……………but which one :confused: :\

 

 

Ha ha, yeah ok I hear (& concede) your claxon horns re: the 4 hour lower tops.

 

But this 0450, high line of the previous range tunnel will still dictate play on this one for now.

 

It's still a decent demand zone. Granted, they're making a bit of a song & dance of it, but we'll buy it & you can sell it further up ;) just don't think we'll buy it this morning :(

 

I will admit though - Geppy 228.20 dances to your tune!

 

ps: Hi torero, nice to see you're still walking the board.

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2.0450-60 is a safe house for now. One or two of these appear very tired at their respective levels. Maybe they require a laden plate of Thanksgiving turkey & some light relief.

 

Save a whole pile of well seasoned turkey for the Dollar Index at 76.0 :)

 

Raise a glass to Mr Plod (GBPCHF). Long term/short term look at this stubborn ceiling at 2970.

 

Retailers buying up to the line by any chance? :doh:

 

Look at the lows on each visit people.

 

Buy to the ceiling.................or sell the ceiling?!

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Long term/short term look at this stubborn ceiling at 2970.

 

Retailers buying up to the line by any chance?

 

Buy to the ceiling.................or sell the ceiling?!

 

I think you'll find their recent buying to the line is on the back of Friday's Daily & 60m hammer (pinocchio?) combination.

 

Clearance thru 2970 & that 60pip tunnel up to 2.3030 on your short timeframe chart will rubber stamp the hammers.

 

I still think I'd rather do battle with the Ozzzie, especially .8770-9070 AUDUSD & above/below the 100.0 AUDJPY. Much more gentlemanly & polite behaviour across there.

 

Leave the black eye thumping & shirt pulling to the Cable ruffians.

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Hi guys,

 

Now that you're all here, I'd like to some nicknames cleared so I can follow your conversation if you don't mind. I know Cable and Geppy, but are there other pairs out there with nicknames and can you please provide them for future references? Us newbies don't hang out the vets long enough to get the lingo (unless they're meant to be codenames for something).

 

As for the CHF, I always wonder why people trade it since it's such a stable currency. What is the best pair related to CHF to trade? At the moment USDCHF and CHFJPY on my charts but not others. Thanks.

 

As for Cable, I don't see any opps this morning or last few days since it's been ranging. Only USDCHF looks appetizing. Any thoughts?

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