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Cable Update (GBPUSD)

  • #457,741
  • Edited 9:44am Feb 5, 2018 9:18am | Edited 9:44am
It is going to be only a retracement. Another push down could happen on Tuesday or later today and retest the lows of today.
Intraday only.
  • #457,742
  • Feb 5, 2018 2:08pm Feb 5, 2018 2:08pm
The cable is under presure. But breaking the suppurt line 1.3986 will be a good short position.
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  • #457,743
  • Feb 5, 2018 4:31pm Feb 5, 2018 4:31pm
Quoting navk
Daily support level. Should respect. 1.3985.
3948 nav . Regards
  • #457,744
  • Feb 5, 2018 6:18pm Feb 5, 2018 6:18pm
Quoting elbert3
{quote} 3948 nav . Regards
hmm... am not sure. may be more for today.
Intraday only.
  • #457,745
  • Feb 5, 2018 7:20pm Feb 5, 2018 7:20pm
Quoting elbert3
{quote} 3948 nav . Regards
I have the same, 3950, this is not a buy it is a close from the short.
  • #457,746
  • Feb 5, 2018 9:00pm Feb 5, 2018 9:00pm
Having stayed short from last week and keeping a close watch on the US DOLLA INDEX. There can only be two possibilities on cable this week.
----1. SCENARIO: H4 shows a price action moving closer to the 50% fib level which could push the price back up ONLY IF THE DOLLAR STRENGTH FALLS BELOW 89.0 Considering the fact that we have price at 0% Fib on H1.
----2. If the dollar strength should hold above 89 as its done on monday then the violation of H1 0% fib level would see us pushing for T2 at 1.3800 area this week.

I hope the 50% level would hold fast; then cable can rally for BULLS.

TRADE WISE ITS ONLY A PRICE.
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  • #457,747
  • Feb 5, 2018 10:04pm Feb 5, 2018 10:04pm
Well I only trade what I see...
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  • #457,748
  • Feb 6, 2018 1:38am Feb 6, 2018 1:38am
big fat LH on the board, that's what I see, but something for everyone I guess...if I try some longs, it will be against my last support, otherwise I'll wait for somewhere to short, no hurry...
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Look Sharp/Trade Tight
  • #457,749
  • Feb 6, 2018 3:16am Feb 6, 2018 3:16am
I've only seen one other guy here highlight a likely reaction at prior Supply. The 123 trigger, indicates trend change;

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GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #457,750
  • Feb 6, 2018 3:57am Feb 6, 2018 3:57am
prefer long from suport
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Trendlines H1,H4, SMC
  • #457,751
  • Feb 6, 2018 5:09am Feb 6, 2018 5:09am
Quoting Trade-G
{quote} Am of the view of strength for cable... it should be targeting to clear 1.4345 soon
Higher high pivot failure, scratch win for long, shorts closed too early, the ancient down trendline is indeed deadly at 1.4250 region, also the region where cable breakdown occur. Higher timeframe have a doubletop in place with the neckline cleared, as long neckline is resistance we should have a lower low coming, otherwise 1.3930 region supported we can possibly start to range from there...
  • #457,752
  • Feb 6, 2018 5:11am Feb 6, 2018 5:11am
Setup favour short though till week ends
  • #457,753
  • Feb 6, 2018 6:14am Feb 6, 2018 6:14am
From a long term perspective, looks like it maybe hunting for deeper support.
I will be lurking to snap up a bargain if it arrives.

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Come with me if you want to live....
  • #457,754
  • Feb 6, 2018 6:49am Feb 6, 2018 6:49am
Quoting Ill-b-back
From a long term perspective, looks like it maybe hunting for deeper support. I will be lurking to snap up a bargain if it arrives. {image}
At least this deep I suspect
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Come with me if you want to live....
  • #457,755
  • Feb 6, 2018 7:42am Feb 6, 2018 7:42am
Quoting Ill-b-back
{quote} At least this deep I suspect {image}

near 1.35 it might look interesting....good call...
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Look Sharp/Trade Tight
  • #457,756
  • Feb 6, 2018 7:49am Feb 6, 2018 7:49am
1.3825/30 is the support for the day.
Intraday only.
  • #457,757
  • Feb 6, 2018 8:14am Feb 6, 2018 8:14am
If you're calling it down to 1.35, where are you short from and where are your stops? Let's see some actual trades and reason behind taking them.

What is the point in saying if it reaches 'x,' it will be a bargain? That implies that you have a strong feeling that there is higher to come and yet we have a sequence of LL/LH/LL (ie immediate trend is down).

'Breaking support of blah blah will be a good short? Why? Explain where you would enter and where your stops are. Come on guys, let's see some TA behind all of this.

I've already shown where to look for to get into a trade and that is the same long or short and also fractal... You can take trades both ways, whilst listening to what the market tells you. If you have such a strong belief of one direction or another and it is at odds with what current PA is telling you, you will only ever lose money.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #457,758
  • Feb 6, 2018 9:48am Feb 6, 2018 9:48am
Quoting navk
1.3825/30 is the support for the day.
3500 ish monthly support
  • #457,759
  • Feb 6, 2018 1:08pm Feb 6, 2018 1:08pm
Price analyze.
Short scenario, price under the ressisance of 30/01.2018 candle at 1.39784, if ressisance will be confirmed we will go more downward. where seriously support not seen until 1.36714. of 20/09/217 day candle. Today on US market USD retreated back. This may be due to required market correction or waiting for tomorrow data of crude oil inventories or due to US indexes recovered some level.

Long scenario, if price will breach the 1.39784 next ress. not seen until at 1.40244; 1.40848.

Candle analyse.

On daily chart cable today forming reverted pin bar which gives possibility that cable tomorrow will continue to go up. EMA 30 was touched by the tail of pin bar by creating support at 1.38565.

Calm trading day expecting on wednesday,traders will watch thursday BOE inflation report and MPC bank rate vote and manufacturing production on friday.
  • #457,760
  • Feb 6, 2018 1:11pm Feb 6, 2018 1:11pm
Thank you. May be you could make the post more helpful by adding relevant charts.

Trade safe and prosper.

KP

Quoting Sunnyland
Price analyze. Short scenario, price under the ressisance of 30/01.2018 candle at 1.39784, if ressisance will be confirmed we will go more downward. where seriously support not seen until 1.36714. of 20/09/217 day candle. Today on US market USD retreated back. This may be due to required market correction or waiting for tomorrow data of crude oil inventories or due to US indexes recovered some level. Long scenario, if price will breach the 1.39784 next ress. not seen until at 1.40244; 1.40848. Candle analyse. On daily chart cable today forming reverted...
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