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Cable Update (GBPUSD)

  • #455,741
  • Oct 16, 2017 7:47am Oct 16, 2017 7:47am
The price is now moving up to point of 1.34054 and will test this point and resistance line. However, there is possibility that the bull does not have enough strength and the bear will seize the initiative. Then the price goes down to the point of 1.32618.
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  • #455,742
  • Oct 16, 2017 8:47am Oct 16, 2017 8:47am
try some sneaky shorts at 3442 if we reach, risk 10
Look Sharp/Trade Tight
  • #455,743
  • Oct 16, 2017 9:35am Oct 16, 2017 9:35am
space making
close over the open bullish
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #455,744
  • Oct 16, 2017 12:28pm Oct 16, 2017 12:28pm
1.38xx is still possible.
Invalidation : 1.30
H4 chart
  • #455,745
  • Oct 16, 2017 3:46pm Oct 16, 2017 3:46pm
daily closing of today below 50% level (balance) of previous month and breaks below Friday low. IMO - looks bearish for one ATR range at least. from news it can be either that builds momentum for the upside or will retest low of previous week. would be interesting to debate the bullish traders reasoning now, close to end of day. safe pips everyone
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  • #455,746
  • Oct 16, 2017 4:10pm Oct 16, 2017 4:10pm
you have to add the weekly chart ,
then the fact it bounced off the nice falling line h4 also last week spectacular failure bear side
but weekly open is in tact after today is def a concern but not overly without that d1 confirm

Quoting shrev2002
daily closing of today below 50% level (balance) of previous month and breaks below Friday low. IMO - looks bearish for one ATR range at least. from news it can be either that builds momentum for the upside or will retest low of previous week. would be interesting to debate the bullish traders reasoning now, close to end of day. safe pips everyone {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #455,747
  • Oct 16, 2017 4:21pm Oct 16, 2017 4:21pm
I can only make one up line and that's res ,I know that one is very good
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #455,748
  • Oct 16, 2017 5:02pm Oct 16, 2017 5:02pm
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Hi Guys,

For me, nothing has changed. Looking at the 1D chart price is consolidating on the s/r zone. The market is waiting I feel; volatility on 1W is low (granted it is only Monday).

Nothing from a technical point has changed(?) we are just standing off.

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Price is sitting on the MA's you couldn't line it up better.

One thing we can be sure of; this is a good price to buy or sell at. I feel when the market moves, it's gonna be some nice juicy pips...

Good luck whichever direction you're in.

T
  • #455,749
  • Oct 17, 2017 1:55am Oct 17, 2017 1:55am
guys what you think about GU i think it will go down more and its started Bearish what you say your opinion guys
  • #455,750
  • Oct 17, 2017 2:33am Oct 17, 2017 2:33am
Quoting fahadzaman66
guys what you think about GU i think it will go down more and its started Bearish what you say your opinion guys

It's been looking like that since Friday mate. I'm waiting for the CPI report to come out to give me a reason to take a short.
  • #455,751
  • Oct 17, 2017 3:30am Oct 17, 2017 3:30am
Well guys,

Moment of truth?

Good luck!

Edit: Singing in the rain; I'm singing in the rain; what a wonderful feeeeeling, I'm HA HA HAppy again!!

Come on you BULLS!!
  • #455,752
  • Oct 17, 2017 3:50am Oct 17, 2017 3:50am
all data come negative and but still gu is buying what is reason behind ?
  • #455,753
  • Oct 17, 2017 3:53am Oct 17, 2017 3:53am
Quoting fahadzaman66
all data come negative and but still gu is buying what is reason behind ?
CPI is on point as this is linked to interest rates.

CPI of 3% or above would suggest that BOE will in the near term raise interest rates which is a big bullish driver.

Whether or not they do will still be need to be seen. However, inflation is bad to a degree so they will want to keep it low. Raising interest rates will help with this.
  • #455,754
  • Oct 17, 2017 4:02am Oct 17, 2017 4:02am
BAH!

Back down again..

I can't take the stress, I'm going back to my daily candles. haha.
  • #455,755
  • Oct 17, 2017 4:03am Oct 17, 2017 4:03am
Quoting fahadzaman66
all data come negative and but still gu is buying what is reason behind ?
Try not to focus on the data/news and instead focus on the technicals.

Whomever is buying, they're trying to support this about 1.3180 with a possible target of 1.3425. Looking at the 1hr and 4hr is the key.
Lost....
  • #455,756
  • Oct 17, 2017 4:04am Oct 17, 2017 4:04am
the overall data shows bearish sign...its just that boe may increase intrest rates could sign bullish.. but I see market bearish.. I might be wrong :-)
  • #455,757
  • Oct 17, 2017 4:07am Oct 17, 2017 4:07am
Quoting sat007
the overall data shows bearish sign...its just that boe may increase intrest rates could sign bullish.. but I see market bearish.. I might be wrong :-)
I'm usually wrong That's why I set pending orders in the hope I catch at least one move
  • #455,758
  • Oct 17, 2017 4:09am Oct 17, 2017 4:09am
Quoting gespiri
{quote} Try not to focus on the data/news and instead focus on the technicals. Whomever is buying, they're trying to support this about 1.3180 with a possible target of 1.3425. Looking at the 1hr and 4hr is the key.
I just wasted an hour of my life waiting for this haha. just ended up where I started.
  • #455,759
  • Oct 17, 2017 4:10am Oct 17, 2017 4:10am
Quoting Talzus
{quote} I'm usually wrong That's why I set pending orders in the hope I catch at least one move
Thats one of the good choice... just a random pending order @1.32400, 1.32500, 1.32550. I got in at 1.32550 and closed at 1.32800 and now I am watching...
  • #455,760
  • Oct 17, 2017 4:11am Oct 17, 2017 4:11am
Quoting sat007
the overall data shows bearish sign...its just that boe may increase intrest rates could sign bullish.. but I see market bearish.. I might be wrong :-)
Such a usefull comentary. Thanks a lot...
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