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Cable Update (GBPUSD)

  • #457,381
  • Jan 2, 2018 9:55am Jan 2, 2018 9:55am
Quoting KingOSwing
{quote} good! Still believe a measured entry plan here on the 4hr could yield positives.
seem bull still in control
just for a cup of coffee...
  • #457,382
  • Jan 2, 2018 10:12am Jan 2, 2018 10:12am
Or fading hard.
We Can
  • #457,383
  • Jan 2, 2018 10:14am Jan 2, 2018 10:14am
Quoting KingOSwing
Or fading hard.
yes mate..
Stop loss hit -20
its ok only small lots
wait for new short or long later..
just for a cup of coffee...
  • #457,384
  • Jan 2, 2018 11:35am Jan 2, 2018 11:35am
Patience is a virtue. Price above 1.3543. Short would be too early people. Waiting game.
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  • #457,385
  • Edited Jan 3, 2018 12:34am Jan 2, 2018 4:11pm | Edited Jan 3, 2018 12:34am
BRITISH POUND/US DOLLAR
-----------------------------------

Rare type : WAVE A is a diagonal triangle


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  • #457,386
  • Jan 2, 2018 4:50pm Jan 2, 2018 4:50pm
I will go with any forecast with cable heading north testing 1.3600 within the week as long as the price remain above 1.3543. Long position should be held earlier though at the break of 1.3543 (Initiate a Trail stop).

Bears Wait! Waiting doesn't lose money though, fast and fury does.
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  • #457,387
  • Jan 2, 2018 8:47pm Jan 2, 2018 8:47pm
Quoting MrPresident
{quote} will probably go south
small long for fun @1.3593
above 1.36 is clear for long..
just for a cup of coffee...
  • #457,388
  • Jan 2, 2018 9:40pm Jan 2, 2018 9:40pm
Hi Guys back from my fishing trip, hope you all have a great and prosperous New Year.

So where are we at now...

I see the 4 hour is holding to allow the EMA to make a HH
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  • #457,389
  • Jan 2, 2018 9:49pm Jan 2, 2018 9:49pm
On the 1 hour I see the bulls have already made a HH average as expected when the bears failed to make the LL average. Now it is a question of how long the bulls can hold or even improve on the position... No evidence at all for shorts yet other than tiny scalps.
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  • #457,390
  • Jan 2, 2018 11:44pm Jan 2, 2018 11:44pm
Quoting Ill-b-back
{quote} Flipped long to 3830. Will buy more with any significant dips.
Major bull mode, 3650 next
Come with me if you want to live....
  • #457,391
  • Jan 2, 2018 11:51pm Jan 2, 2018 11:51pm
Quoting Ill-b-back
{quote} Major bull mode, 3650 next
And your reasoning for that is...?

We would have to break out of the holding position before we could confirm the long is on and even then 50 pips would just be a guess.

Just putting forwards numbers is pointless.
  • #457,392
  • Jan 2, 2018 11:59pm Jan 2, 2018 11:59pm
Quoting Ill-b-back
{quote} Major bull mode, 3650 next
same side mate
just for a cup of coffee...
  • #457,393
  • Jan 3, 2018 12:21am Jan 3, 2018 12:21am
Inserted Video
  • #457,394
  • Edited 2:01am Jan 3, 2018 12:56am | Edited 2:01am
Quoting Nala66
{quote} And your reasoning for that is...? We would have to break out of the holding position before we could confirm the long is on and even then 50 pips would just be a guess. Just putting forwards numbers is pointless.
Because support is just below around 3550. It's a bull
Come with me if you want to live....
  • #457,395
  • Jan 3, 2018 1:11am Jan 3, 2018 1:11am
Quoting akim0895
{quote} same side mate
now short wave is coming..
just for a cup of coffee...
  • #457,396
  • Jan 3, 2018 2:39am Jan 3, 2018 2:39am
Quoting Ill-b-back
{quote} Because support is just below around 3550. It's a bull
Thanks for the explanation... A tad brief for me.

I don't know what you call support or on which time frame you are applying it. However at the 1 minute level this was a simple short trade...not long.
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  • #457,397
  • Jan 3, 2018 3:36am Jan 3, 2018 3:36am
Quoting Nala66
{quote} Thanks for the explanation... A tad brief for me. I don't know what you call support or on which time frame you are applying it. However at the 1 minute level this was a simple short trade...not long. {image}
Hi Nala, 1minute chart is not in my consideration. I trade primarily off daily charts and above. Daily support around 3550 or so, I am already long from there looking longer term towards 1.38/40 area. On phone, sorry no chart.
Come with me if you want to live....
  • #457,398
  • Jan 3, 2018 4:12am Jan 3, 2018 4:12am
Quoting Ill-b-back
{quote} Hi Nala, 1minute chart is not in my consideration. I trade primarily off daily charts and above. Daily support around 3550 or so, I am already long from there looking longer term towards 1.38/40 area. On phone, sorry no chart.
That's OK I know you trade the longer time frames and indeed you are trading off a daily bull support. The problem with this is the next bear support (bull resistance is 4946 and I would expect a lot of up and down activity over many weeks before this is reached. Still the bears made it down this distance in one bar nothing says the bulls can't do the same.

Even if we look at the 4 hour chart we can see price is able to pull back southwards for 70 pips or so and still would be bullish. My stakes are too high to handle such a draw down. On the daily it can pull back twice this and still be bullish. I would much sooner trade what is currently happening than what may or may not happen down the track.
  • #457,399
  • Jan 3, 2018 4:40am Jan 3, 2018 4:40am
The lower the time frame the more information we have available to us to get good entries with short stops. Then we can let the dominoes fall into place as time goes by (If we wish to) by simply advancing our stops.

My favorite chart is the 5 min leaving me with the 1 min to pinpoint an entry and the 1 hour to give me guidance on the direction.

So my 5 min looks like this....Below

Telling me the bears have found support twice now and can take out the bull support (bear resistance) The stops are advanced each time the averages are broken (dashed yellow lines)
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  • #457,400
  • Jan 3, 2018 5:02am Jan 3, 2018 5:02am
And now the stops are advanced once more and we would be hoping to take out the next bull support and in doing so the next lower average and so the dominoes fall. That is if we have not made enough profit and are pushing for all we can get. I am done and dusted for today.
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