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Cable Update (GBPUSD)

  • #454,121
  • Aug 17, 2017 8:54am Aug 17, 2017 8:54am
Holding GU long target 1.2925
Forex Learner
  • #454,122
  • Aug 17, 2017 3:57pm Aug 17, 2017 3:57pm
Bearish pressure remains, the pair has found immediate support at 1.2840, break below would confirm further decline.
  • #454,123
  • Aug 17, 2017 10:53pm Aug 17, 2017 10:53pm
Inserted Video
  • #454,124
  • Aug 18, 2017 10:10am Aug 18, 2017 10:10am
Quoting csc2009
Bearish pressure remains, the pair has found immediate support at 1.2840, break below would confirm further decline.
The consolidation above 1.2840 continues and it is unlikely that the pair will break out below that support before the market closes today. Next week though there might be a further move to the downside.
  • #454,125
  • Aug 18, 2017 10:20am Aug 18, 2017 10:20am
Looking at the D1 time frame, it is likely that at least another 40 pips southward can be got before the close of today's session.

Trade safe and prosper.

KP

Quoting james1254
{quote} The consolidation above 1.2840 continues and it is unlikely that the pair will break out below that support before the market closes today. Next week though there might be a further move to the downside.
Do your homework, follow the footprints of smart money
  • #454,126
  • Aug 20, 2017 2:13pm Aug 20, 2017 2:13pm
Gbp/Usd has been consolidating for three weeks on the downside due to low demand on Pound. Political uncertainty after Brexit is still driving the pair. Immediate support can be found around 1.2830 level.
  • #454,127
  • Aug 20, 2017 2:34pm Aug 20, 2017 2:34pm
Quoting csc2009
Gbp/Usd has been consolidating for three weeks on the downside due to low demand on Pound. Political uncertainty after Brexit is still driving the pair. Immediate support can be found around 1.2830 level.
Straight north from now on. Fasten your seatbelts
Let the market decide!
  • #454,128
  • Aug 20, 2017 3:31pm Aug 20, 2017 3:31pm
Quoting Tcharq
{quote} Straight north from now on. Fasten your seatbelts
Anything possible I reckon , not looking overly bouncy to me ,,,,,quarterly pivot could provide a bit of a bounce its around this area ,,,, there is a long monthly candle wick that may need filled , June candle which if it was to drop that far would put it around the daily 200 sma,,,,,,,,,, Eurgbp looking pretty strong yet also. Not so sure bout strait north tho
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  • #454,129
  • Aug 20, 2017 4:10pm Aug 20, 2017 4:10pm
Looks a bit iffy to me at this time...We could see further decline to the 1.267 area to close the month but longer term indicates we are still heading north. These long range trades are far too risky for me. I much prefer to get my 20 pips a day in a much more respectable time like an hour or two.
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  • #454,130
  • Aug 20, 2017 4:30pm Aug 20, 2017 4:30pm
On the daily we see the bulls have raised the average but the bears are now trading below it. For the bears to break the lower average it would take a fairly hefty move on the behalf probably all the way to the support at 1.249, we would see a strong push on a single bar if this is to happen.

My guess is the bulls will make another higher average rather than the bears making a lower one,
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  • #454,131
  • Aug 20, 2017 4:41pm Aug 20, 2017 4:41pm
On the one hour chart we see the bears stepping down through to the supports and taking them out but they are leaving a trail of resistance levels behind so this is not a strong down move at all and it would suggest the bulls intend to take it back up. The bears are now sitting on a support level. Note how bearish support is needed to take out bullish support.
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  • #454,132
  • Aug 20, 2017 5:06pm Aug 20, 2017 5:06pm
looks like it's in limbo for now. wait until it starts to trend, there's plenty of money to be made then.
  • #454,133
  • Aug 20, 2017 10:34pm Aug 20, 2017 10:34pm
Inserted Video
  • #454,134
  • Edited 2:13am Aug 21, 2017 1:46am | Edited 2:13am
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The day I started looking at the market as a living organism, changing it shapes and form, adapting to new environment, was the day I finally started making some money. There is a reason why NO AUTOMATED system is able to beat the market in the long term.

Market is like a virus. It adapts. At every single second you look at the charts, you can apply the rules of every possible strategy there is, thus giving you an illusion your strategy works as intended. The day you stop looking at charts thinking "oh, I'm right" is the day you set yourself free to brand new thinking about markets behaviour.

"What would need to happen to fool the majority?" is the question I ask myself before every trade.

Will it go today to 1.29395 area? Lets find out!

https://www.forexfactory.com/showthread.php?t=57639

Only thread you will ever need to read! FTI is god of trading
Let the market decide!
  • #454,135
  • Edited 7:09am Aug 21, 2017 3:11am | Edited 7:09am
1.28626 before launch? Or now?

If it goes below 1.2850 there is no launch!

If this is the bottom for a 1.34215 move in few weeks, that would be fun!

1.2870 good area to add some longs (if it wants to test this area)

4:08pm Edit: 2867 seems more and more probable before take off ( stoploss hunt before actual move ).

Hedging now. Selling till 2870ish before adding longs.
Let the market decide!
  • #454,136
  • Edited 7:46am Aug 21, 2017 7:35am | Edited 7:46am
Market = living organism. Observe it, feel it, take its perspective!

Changing my outlook to short at 1.2905 (closed all my longs! Stick with the plan attitude = lose money long term).

Target to be determined based on recent advantements.

"Professional traders" say - Don't let emotions set in. I say - Feel the market and choose your targets based on your gut (experience + knowledge) feeling.
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Let the market decide!
  • #454,137
  • Aug 21, 2017 8:53am Aug 21, 2017 8:53am
GBP/USD may bounce off from 1.2880 which is the (MA)89 indicator on the daily time-frame and move to the upside towards 1.2925 - 1.2930. That said, considering the shooting star candlestick at 1.3265 on the weekly time-frame, which is still a valid signal for a move south, the overall drop may not be over yet.
  • #454,138
  • Aug 21, 2017 10:32am Aug 21, 2017 10:32am
Quoting james1254
GBP/USD may bounce off from 1.2880 which is the (MA)89 indicator on the daily time-frame and move to the upside towards 1.2925 - 1.2930. That said, considering the shooting star candlestick at 1.3265 on the weekly time-frame, which is still a valid signal for a move south, the overall drop may not be over yet.
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Drop incoming?
Let the market decide!
  • #454,139
  • Aug 21, 2017 11:19am Aug 21, 2017 11:19am
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Do you FEEL it's going to drop hard?
Let the market decide!
  • #454,140
  • Edited 7:56pm Aug 21, 2017 6:01pm | Edited 7:56pm
The bulls found support yesterday on the 1 hour chart and have now found support on the 4 hour chart and almost straight away the bears said no no no
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