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Cable Update (GBPUSD)

  • #457,581
  • Edited 6:03pm Jan 22, 2018 5:50pm | Edited 6:03pm
Quoting krecci
I'm wondering if anyone went short on Wednesday afternoon after seeing a perfect reverse hammer form on the 4HR chart at strong resistance. I missed it thankfully but would've definitely taken the confluent signals as an opportunity to short. For those that saw it form on the 4HR and didn't take the trade was it the strong bullish trend that tempered your hand? I'd like to know in order to avoid taking a similarly perfect yet faulty signal in the future. Here is what I'm referring to: {image}
Not sure why 1.3852 is strong resistance? I had 1.3835 as a monthly level. I watched that H4 bar too. Gbp/Usd was trading above the previous week's close. The H4 candle looked good but it still closed above the day open. The day closed on a higher high. Of course it is easy to say, with hindsight, but the candle was not a good set up.
Gone to a better place
  • #457,582
  • Jan 22, 2018 9:02pm Jan 22, 2018 9:02pm
GU at the top of the daily channel.
Attached Image (click to enlarge)
Click to Enlarge Name: gu-daily.jpg Size: 161 KB
  • #457,583
  • Jan 23, 2018 12:05am Jan 23, 2018 12:05am
Quoting krecci
I'm wondering if anyone went short on Wednesday afternoon after seeing a perfect reverse hammer form on the 4HR chart at strong resistance. I missed it thankfully but would've definitely taken the confluent signals as an opportunity to short. For those that saw it form on the 4HR and didn't take the trade was it the strong bullish trend that tempered your hand? I'd like to know in order to avoid taking a similarly perfect yet faulty signal in the future. Here is what I'm referring to: {image}
The so called shooting star or hammer does not mean a thing when it does not carry through, just my thoughts. Just like H&S does not mean a thing unless breakout happens...
  • #457,584
  • Jan 23, 2018 1:23am Jan 23, 2018 1:23am
Quoting Nala66
.....And they did it finally. This now leaves the 40767 level in the frame as the next bull target level. So still buying the dips until the charts prove otherwise. {image}
My target 1.4055
  • #457,585
  • Jan 23, 2018 6:01am Jan 23, 2018 6:01am
I was so tempted to put a pending buy at 139 and target mid 140s, but cancelled the order. Now is the time to be conservative until months end.
Come with me if you want to live....
  • #457,586
  • Jan 23, 2018 7:13am Jan 23, 2018 7:13am
1.3996 short
  • #457,587
  • Jan 23, 2018 8:06am Jan 23, 2018 8:06am
might be heading up back to 1.398 to 1.4
  • #457,588
  • Jan 23, 2018 8:10am Jan 23, 2018 8:10am
1.4 does look like a strong psychological level
  • #457,589
  • Jan 23, 2018 8:43am Jan 23, 2018 8:43am
first tp. done.... 2nd i am setting at 1.4045
  • #457,590
  • Jan 23, 2018 8:56am Jan 23, 2018 8:56am
Pound seems to be going strong. Watching from the sidelines for now.
  • #457,591
  • Jan 23, 2018 9:40am Jan 23, 2018 9:40am
wil go to 1.44. Super strong. Very expierienced traders forbid to short me
  • #457,592
  • Jan 23, 2018 10:12am Jan 23, 2018 10:12am
Quoting vaidas7777
wil go to 1.44. Super strong. Very expierienced traders forbid to short me
It will hover around 140 a few days before it goes down. Check out EUR/USD. It's also in consolidation mode.
It's too risky to jump on the long train.
  • #457,593
  • Jan 23, 2018 10:40am Jan 23, 2018 10:40am
there might be another move towards 1.41 since it did get to 1.40

i'm looking to buy a dip around 1.39
Don't Worry Be Happy
  • #457,594
  • Jan 23, 2018 10:49am Jan 23, 2018 10:49am
Quoting c0ldsun
{quote} It will hover around 140 a few days before it goes down. Check out EUR/USD. It's also in consolidation mode. It's too risky to jump on the long train.
You talk you dont know about.
while price is above 1.3840 its super bulish MN chart just screams buy me..
  • #457,595
  • Jan 23, 2018 10:59am Jan 23, 2018 10:59am
Reason for this drop !! Any news ??
  • #457,596
  • Jan 23, 2018 11:06am Jan 23, 2018 11:06am
Quoting vaidas7777
{quote} You talk you dont know about. while price is above 1.3840 its super bulish MN chart just screams buy me..

Monthly does yes... but other time frames (for now) [H1 & H4] are extremely divergent... a correction is needed before the MN Time frame kicks in for a push to a banking level of 1.4480
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  • #457,597
  • Jan 23, 2018 11:09am Jan 23, 2018 11:09am
Quoting forexlover20
Reason for this drop !! Any news ??
Just because it shows GREEN does not mean its positive, read what it says

"A positive number indicates a budget deficit, a negative number indicates a surplus. This figure includes "financial interventions" - there is also a figure released at the same time which excludes them;"

So it's still negative since its a positive number, a negative number, is surplus of funds. Which they dont have. Hence the move down (at present)... once this down move correction is over with, up she will go
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  • #457,598
  • Jan 23, 2018 11:13am Jan 23, 2018 11:13am
Quoting forexlover20
Reason for this drop !! Any news ??
daily high yesterdays
somebody wanted to reach even last week high, but pound is too strong
  • #457,599
  • Jan 23, 2018 11:15am Jan 23, 2018 11:15am
Quoting FXCyborg
{quote} Monthly does yes... but other time frames (for now) [H1 & H4] are extremely divergent... a correction is needed before the MN Time frame kicks in for a push to a banking level of 1.4480
You are full of b*llsh*t
  • #457,600
  • Jan 23, 2018 11:28am Jan 23, 2018 11:28am
Quoting vaidas7777
{quote} You are full of b*llsh*t
then you're a dick who dont know what a divergence is...

get a iMACD out you twat! and apply it to the H1 and H4 and tell me that's not a bearish divergence...

friggin muppet!

Shit man, i was agreeing with you, you dont need to be like you're acting now, like a C**t...

if you cant see or know what a bearish divergence is, then you need to stay on your demo account before going live... IDIOT!
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