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Cable Update (GBPUSD)

  • #459,721
  • Apr 25, 2018 9:20am Apr 25, 2018 9:20am
Quoting navk
Taken long again. Stop 3932.
out
Intraday only.
  • #459,722
  • Apr 25, 2018 9:33am Apr 25, 2018 9:33am
Looks like GBP/USD might snap at this point, south. Big dollar pressure...
  • #459,723
  • Apr 25, 2018 5:52pm Apr 25, 2018 5:52pm
I have closed most of my open short trades early at 1.3925 for decent profit as my confidence in the trade targets has waned. (You watch this crash haha)

Therefore I have left just 2 open shorts both with a stop at B/E targeting S61. Nice and risk free.

Reasons
1) Looking across all $ pairs they are near/at strong resistance areas with good chances of reversal.
2) Major GBP news tomorrow with the parliamentary vote could cause a spike.
3) Potentially there is first signs of overall GBP strength returning to the market.
4) With recent dollar strength my Donald Trump spider senses make feel he is about to tweet
5) I feel there is better value in other pairs

We will see what happens tomorrow for hopefully a clearer picture.
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  • #459,724
  • Apr 25, 2018 7:30pm Apr 25, 2018 7:30pm
Quoting tunamelt
{quote} Am i missing something? :3 {quote} Could you help enlighten me, thanks ~
1) It was intra day support 1.
2) It was ( at that time ) bottoming at the same price for the second time )

The price bounced from that support as expected. But only 25 to 30 pips.
Intraday only.
  • #459,725
  • Apr 26, 2018 1:12am Apr 26, 2018 1:12am
Possible H&S on shorter frames, target 3930 area, think upside still needs 3950's
All charts/ideas based on UK time zone
  • #459,726
  • Apr 26, 2018 1:19am Apr 26, 2018 1:19am
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monthy possible ft and possible target
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  • #459,727
  • Apr 26, 2018 1:24am Apr 26, 2018 1:24am
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possible trade here stop line above and second breakout target line below
  • #459,728
  • Apr 26, 2018 1:26am Apr 26, 2018 1:26am
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if if it breaks possible day chart target remember if . Play it safe
  • #459,729
  • Apr 26, 2018 3:02am Apr 26, 2018 3:02am
Quoting Ill-b-back
With this blue daily range in play, I'd say a 1hr pattern BO will take it further north off support. {image} {image}
Dump...
Come with me if you want to live....
  • #459,730
  • Apr 26, 2018 3:17am Apr 26, 2018 3:17am
We finally got to S61 my remaining shorts now all closed. A few cheeky longs open @1.3895 looking for retrace back to 1.3925.
  • #459,731
  • Apr 26, 2018 3:45am Apr 26, 2018 3:45am
Quoting el_duende
We finally got to S61 my remaining shorts now all closed. A few cheeky longs open @1.3895 looking for retrace back to 1.3925.
Ive closed at 1.3922, im now sitting it out until after the parliamentary vote to see what happens
  • #459,732
  • Apr 26, 2018 4:04am Apr 26, 2018 4:04am
http://www.bbc.co.uk/news/uk-politics-43902011

Looks like it changing to just a backbench discussion now so possiblly there will be no vote now.
  • #459,733
  • Apr 26, 2018 4:09am Apr 26, 2018 4:09am
Attached Image (click to enlarge)
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  • #459,734
  • Apr 26, 2018 4:43am Apr 26, 2018 4:43am
Potential reversal in place, looking if it will pan out.
  • #459,735
  • Apr 26, 2018 5:13am Apr 26, 2018 5:13am
Certainly looks like the dollar is wobbling after making big gains. We are at key pivots across the board for the dollar.

I have entered some U/J shorts @ 109.30 with an open target.
  • #459,736
  • Apr 26, 2018 5:22am Apr 26, 2018 5:22am
Update on the Forex market

GBPUSD strong support from 8H sma300 1.3865 But price can jump from here becsue of other tools like bollinger band
USD/CHF strong resistance from Daily sma400 (price in the way to sma200 0.9659)
USD/CAD strong resistance from daily sma300
Gold strong support from 8h sma300
EUR/USD strong support from 8h sma300
NZD/USD strong suppoer from daily Colors pattern +8h Bollinger band.

I think USDCHF is the must easy to trade for now.
But I think Market next move is clear now , can make sneak attack of 125 pips.

GL HF
  • #459,737
  • Apr 26, 2018 5:45am Apr 26, 2018 5:45am
Quoting el_duende
Certainly looks like the dollar is wobbling after making big gains. We are at key pivots across the board for the dollar. I have entered some U/J shorts @ 109.30 with an open target.
Nice, I took a short for uc at 9844 ^^
  • #459,738
  • Apr 26, 2018 5:53am Apr 26, 2018 5:53am
will we see this 1.4 shit zone hmm
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #459,739
  • Apr 26, 2018 5:53am Apr 26, 2018 5:53am
Quoting Trade-G
Potential reversal in place, looking if it will pan out.
Hourly at trend line resistance, important decision time, those who long earlier just need to have stops adjusted, if you breaks out upwards congrats, if not we tried...
  • #459,740
  • Apr 26, 2018 5:55am Apr 26, 2018 5:55am
H4 also at trendline resistance
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