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Cable Update (GBPUSD)

  • #453,901
  • Aug 3, 2017 9:30pm Aug 3, 2017 9:30pm
Gbp/Usd took reverse turn followed by the BoE's decision remain its low rate unchanged and found support at daily low 1.3110. The pair consolidating on the downside ahead of US Non-farm payroll.
  • #453,902
  • Aug 3, 2017 11:03pm Aug 3, 2017 11:03pm
Well it all looks clear enough to me... Market makes its move then retraces 50%
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  • #453,903
  • Aug 4, 2017 12:57am Aug 4, 2017 12:57am
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  • #453,904
  • Aug 4, 2017 1:02am Aug 4, 2017 1:02am
Bullish pattern on the M5 awaiting breakout, if it does it could run back where it came from.
  • #453,905
  • Aug 4, 2017 1:16am Aug 4, 2017 1:16am
To me this is a wait and see situation
  • #453,906
  • Aug 4, 2017 1:22am Aug 4, 2017 1:22am
Good morning people carefull on today's trade US news could be a £ killer I have a bottom day to any shore target could see 2480 area but the trend looks long as price popped its head over the upper tl so also be in mind of breakout confirming . Regards E
  • #453,907
  • Aug 4, 2017 1:28am Aug 4, 2017 1:28am
Bullish upmove will be looking at 1.3380 as mentioned before (longer term)
  • #453,908
  • Aug 4, 2017 1:34am Aug 4, 2017 1:34am
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3160 looks like it broke the 4 hour tl lets see if it goes back there to possibly confirm
  • #453,909
  • Aug 4, 2017 2:00am Aug 4, 2017 2:00am
Quoting elbert3
{image} 3160 looks like it broke the 4 hour tl lets see if it goes back there to possibly confirm

Simple chart says it all

support. Now turned resistance .. text book. Who wants to really buy before we are above 1.3160 for small 20 pip when gbp moves 85 in a day on average

for or the newbies to trading .. buying under a major resistance is just a losing idea ... wait for the breakout and then a test of the breakout . The test always comes if it's a true breakout
Blogging daily now at www.volume.zone
  • #453,910
  • Aug 4, 2017 2:08am Aug 4, 2017 2:08am
Quoting Trade-G
Bullish pattern on the M5 awaiting breakout, if it does it could run back where it came from.
Breakout on M5, just 7 mins into 3pm local time, looking if the hour will hold breakout resistance.
  • #453,911
  • Aug 4, 2017 2:13am Aug 4, 2017 2:13am
Trademark for the breakout should be rather fast and furious.... hmmm
  • #453,912
  • Aug 4, 2017 2:31am Aug 4, 2017 2:31am
1.31515 hurdle from yesterday big down swing needs to clear, else we will still end up with a bigger picture bearishness
  • #453,913
  • Aug 4, 2017 2:41am Aug 4, 2017 2:41am
Quoting Trade-G
Trademark for the breakout should be rather fast and furious.... hmmm
ok 1.3150 cleared next 1.3188 target
  • #453,914
  • Aug 4, 2017 2:52am Aug 4, 2017 2:52am
Although M5 RSI is overbought, still room for buying pressure to expand, 1.3157 Last weeks high if resistance, then still bearish, but hover here long enough sellers might turn buyers hehehheheh
  • #453,915
  • Aug 4, 2017 2:59am Aug 4, 2017 2:59am
Quoting Trade-G
{quote} Upswing to 1.3154 atm lets see if 1.3165 region will be tagged
The buyers wanted it bad at region 1.3160 region, high now 1.31635 or so
  • #453,917
  • Aug 4, 2017 4:15am Aug 4, 2017 4:15am
Quoting malcolmb14
Morning all todays trading plan seems fairly straight forward 1.3149 we saw heavy supply yesterday on the 15 min . No buys unless that level is broken to the upside and we get a down wave with low volume down bars showing no sell interest Others than that its still selling rallies mode for target 1.3030 area that's my plan anyway I normally plot the high and low of 1 st 30 min of London session ( called the open range ) and see how price behaves with in it .. break to downside strong chance it's s down day . According to my rules I cannot trade...
Your opening range should be completed? whats your opinion?
  • #453,918
  • Aug 4, 2017 5:06am Aug 4, 2017 5:06am
Buy@ 1.3153, target-1.3200
to err is human
  • #453,919
  • Aug 4, 2017 5:06am Aug 4, 2017 5:06am
Quoting Trade-G
{quote} Your opening range should be completed? whats your opinion?
I am sitting out right now .. went and saw Dunkirk at the movies

see how how they popped it just above yesterday's high with no real buy pressure .. I am waiting to NFP later to trade
Blogging daily now at www.volume.zone
  • #453,920
  • Aug 4, 2017 5:10am Aug 4, 2017 5:10am
Likely to test 1.3170/75
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