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Cable Update (GBPUSD)

  • #457,221
  • Dec 20, 2017 2:47am Dec 20, 2017 2:47am
looking at the H4 chart I posted previously it's hitting this TL now as resistance unless TL gives way this H4 it's probably going to get dragged lower.
Attached Image
  • #457,222
  • Dec 20, 2017 2:49am Dec 20, 2017 2:49am
Quoting gka
I attach the VRM predictions for GBPUSD for tonight and tomorrow finishing 5 pm 20th December in New York. The GBPUSD has not yet found support above the centre of the short term trend channel now at 1.3392. A description of the algorithm and format of the attached chart can be found attached to my previous posts. For anybody interested in predictions for other FX pairs just follow the link at the end of these two documents. {image}

No offense man, but for starters, you got like 40 levels to choose from. Then you show up after the fact telling us which hit. Whilst you might have something interesting, does me little good, if you know what I mean. How about you try weeding a few of those out, and telling us which ones your gonna trade on, before it happens....that might at the very least be useful for comparison purposes.....
Look Sharp/Trade Tight
  • #457,223
  • Dec 20, 2017 2:55am Dec 20, 2017 2:55am
Quoting asgcorp
looking at the H4 chart I posted previously it's hitting this TL now as resistance unless TL gives way this H4 it's probably going to get dragged lower. {image}

3375/80 important support, sorry I didn't realize it this morning...think we need to break that to turn lower...
Look Sharp/Trade Tight
  • #457,224
  • Dec 20, 2017 3:11am Dec 20, 2017 3:11am
Quoting asgcorp
{quote} true. no dip provided, so not interested. 3430 strong resistance if it ain't broken into US open we have a high prob of rejection @ 3430. If bulls crack 3430 before US open high prob of continuation until 3500. Have no position and no trade plan now. Will see where the price takes us. I do see what you mean on DXY, yes.
We don't have much time before NY opens, less than an hour, so hopefully we crack 3430 first. I'm not looking at 1.35, I think fibo gives us 1.3470, but that is assuming we crack 3430.

Cable bulls are running on a tight schedule, we have Carney in about 2 hours.
  • #457,225
  • Dec 20, 2017 3:13am Dec 20, 2017 3:13am
Quoting PayTheLimit
{quote} 3375/80 important support, sorry I didn't realize it this morning...think we need to break that to turn lower...
yeah the reason I posted that H4 chart was to show that bounces are getting shallow. I figure GU is getting weaker but is undecided for now. US open should bring more clarity - are the pit traders going to get DXY bid today? I'm staying flat for now and would like to get more clarity.

Fiber is also stuck @ a turning point - on one side you got that gap, but on the other side probably MMs see that retail is net long and might just sink it. Fecken bollocks trading man.
  • #457,226
  • Dec 20, 2017 3:14am Dec 20, 2017 3:14am
Quoting MoneyFocus
{quote} We don't have much time before NY opens, less than an hour, so hopefully we crack 3430 first. I'm not looking at 1.35, I think fibo gives us 1.3470, but that is assuming we crack 3430. Cable bulls are running on a tight schedule, we have Carney in about 2 hours.
I am actually looking at cracking .3425 rather than .3430, but that's just a minor difference. Possibly from how we draw our stuff.

Cheers.
  • #457,227
  • Dec 20, 2017 3:17am Dec 20, 2017 3:17am
Quoting asgcorp
{quote} yeah the reason I posted that H4 chart was to show that bounces are getting shallow. I figure GU is getting weaker but is undecided for now. US open should bring more clarity - are the pit traders going to get DXY bid today? I'm staying flat for now and would like to get more clarity. Fiber is also stuck @ a turning point - on one side you got that gap, but on the other side probably MMs see that retail is net long and might just sink it. Fecken bollocks trading man.

yea, I hear you...GJ looks strong, smart support I thinks 150.70/80...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 52 KB
Look Sharp/Trade Tight
  • #457,228
  • Dec 20, 2017 3:19am Dec 20, 2017 3:19am
there is thin volume so it ain't cracking nothing until US open (2 hours) or Carney (same).
  • #457,229
  • Dec 20, 2017 3:24am Dec 20, 2017 3:24am
Quoting asgcorp
there is thin volume so it ain't cracking nothing until US open (2 hours) or Carney (same).
Never suspect the Cable bulls lol. They can pop up from nowhere lol. Let's just wait and see. If this stays above 1.34, it might be a psychological boost to the bulls.

We're kinda in nowhere land/zone now though.
  • #457,230
  • Dec 20, 2017 4:09am Dec 20, 2017 4:09am
just one hour until data bulls not letting go and sitting @ interim supp. could be a 50 point move north. probably will short EG into data (30 points TP).
  • #457,231
  • Dec 20, 2017 4:12am Dec 20, 2017 4:12am
Quoting PayTheLimit
{quote} No offense man, but for starters, you got like 40 levels to choose from. Then you show up after the fact telling us which hit. Whilst you might have something interesting, does me little good, if you know what I mean. How about you try weeding a few of those out, and telling us which ones your gonna trade on, before it happens....that might at the very least be useful for comparison purposes.....
Point taken. The way I trade is described in post #457,144. I trade real-time so I don't say the market will do anything in the future. Instead I wait for opportunities with bounces off the levels and trends between levels. The most significant levels to watch out for are the weekly levels.
  • #457,232
  • Dec 20, 2017 4:29am Dec 20, 2017 4:29am
Quoting gka
{quote} Point taken. The way I trade is described in post #457,144. I trade real-time so I don't say the market will do anything in the future. Instead I wait for opportunities with bounces off the levels and trends between levels. The most significant levels to watch out for are the weekly levels.

ok, I can dig that, I'll have a look at the weeklies then...cheers..
Look Sharp/Trade Tight
  • #457,233
  • Dec 20, 2017 4:45am Dec 20, 2017 4:45am
Were good scalping conditions. Unfortunately - no signal on the last little drop.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1.png Size: 46 KB
We Can
  • #457,234
  • Edited 5:57am Dec 20, 2017 5:38am | Edited 5:57am
Bank of England Financial Stability Reports - Carney plays the fool again surely he should realise that stability is based primarily on the banks holdings first and then substantiated to allow for the fact of negative allowances on its own data forecast sheet - it is a marginal difference but it has to be acknowledged or in his eyes its if you say so = Carney plays the fool like a dog lays down and then rolls over for its masters ..
  • #457,235
  • Dec 20, 2017 6:10am Dec 20, 2017 6:10am
what a horrible day so far. 40 point range. if somehow they pump this north another 50 I will start shorting this floater.

PS: I have 3450-70 tagged for shorting. No other setups I see now.
  • #457,236
  • Dec 20, 2017 7:12am Dec 20, 2017 7:12am
No trades still on pound dollar but running 3 longs still on euro usd.
119 would be nice
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Click to Enlarge Name: eurusd-h2-ifcmarkets-corp.png Size: 352 KB
  • #457,237
  • Dec 20, 2017 7:30am Dec 20, 2017 7:30am
closed at 400 pips plus some change and done on euro usd.
think thats it for this year lol .. better stuff to be doing - but back next year to do some scalping ..
  • #457,238
  • Dec 20, 2017 8:58am Dec 20, 2017 8:58am
what do you guys think about this?

https://www.forexfactory.com/news.php?do=news&id=724531
  • #457,239
  • Dec 20, 2017 9:52am Dec 20, 2017 9:52am
Quoting honesttrader
what do you guys think about this? https://www.forexfactory.com/news.php?do=news&id=724531
trend will likely change at the start of the new month as the market digests data.

Until then just buy dips in EU - EU target is 2050 and GU should hit 3500-3550.
EU is easier to read atm buy dips near 1855-1860 TP 1930 TP2 1990 stops @ 1845.

GU is tougher to read let's see what we get @ LO Thursday.
  • #457,240
  • Dec 20, 2017 10:02am Dec 20, 2017 10:02am
Quoting PayTheLimit
{quote} ok, I can dig that, I'll have a look at the weeklies then...cheers..
I get the impression that a lot of traders are using lines extrapolated to the future. So when you think there is a bounce or breakout then check out the VRM weekly level closest to your point of interest.
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