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Cable Update (GBPUSD)

  • #459,601
  • Apr 19, 2018 9:57pm Apr 19, 2018 9:57pm
GBPUSD for today
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  • #459,602
  • Apr 19, 2018 9:57pm Apr 19, 2018 9:57pm
Quoting greengp
{quote} all written in the chart. daily was week from three days back
Yes it is daily by candle D1 shows weakness, I have said a reversal top was shown on Tuesday (double pattern of the same type, one big one small), followed by the flush down, then the zone of no return 1.4229-1.4243 when bulls cannot overcome (not out of the woods) plus the down trendline of H1 established (when tunamelt did a short - a good area for short but keep tight stops). Tuesday flush down broke 2 structure support, Wednesday and Yesterday it tested the support now turned resistance, so although it doesn't necessarily mean it will turn out this way, but there should be a high chance it can, and it did.
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  • #459,603
  • Apr 19, 2018 10:06pm Apr 19, 2018 10:06pm
Quoting Trade-G
Those who long can look if 1.4185 will be good support for upside. On the lower timeframe we actually have a reversal yesterday, should 1.4230 region becomes resistance, it will be interesting. 1.4200 weekly pivot.
A chance for pullback
  • #459,604
  • Apr 19, 2018 10:07pm Apr 19, 2018 10:07pm
Quoting Trade-G
Don't you all think its quite bearish as H1 broke through so many supports... its like breaking through many bricks...
A signal of warning to the bulls
  • #459,605
  • Apr 19, 2018 10:13pm Apr 19, 2018 10:13pm
Quoting el_duende
{quote} If we all knew that we would all be billionaires Trading is about probability. You need an 'edge' ie over time you win more trades than you lose. Have a read through some threads here on forex factory. The best one atm is probably Davits thread using pivots. As you are new just read the thread, dont post any newbie questions or he will likely ban you
Yes you are right "probability" and I would have thought having a downtrendline gives a high probability for a Short trade short at region 1.4240 with stops at 1.4250 with a win ratio to 1.4100 (conservatively) 0.0010 vs 0.0120 at least
  • #459,606
  • Apr 19, 2018 10:24pm Apr 19, 2018 10:24pm
Testing. A break below the trendline will probably shoot down.
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Consistency.
  • #459,607
  • Apr 19, 2018 10:24pm Apr 19, 2018 10:24pm
Out of a scalp long, cheap thrill hahha
  • #459,608
  • Apr 19, 2018 10:26pm Apr 19, 2018 10:26pm
Quoting yumademe
Testing. A break below the trendline will probably shoot down. {image}
It could go up, just saying
  • #459,609
  • Apr 19, 2018 10:30pm Apr 19, 2018 10:30pm
Up 1.4200
Down 1.3950
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  • #459,610
  • Apr 19, 2018 10:36pm Apr 19, 2018 10:36pm
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  • #459,611
  • Apr 19, 2018 10:47pm Apr 19, 2018 10:47pm
Quoting Trade-G
{quote} It could go up, just saying
Yeah placed a SL just in case haha
Consistency.
  • #459,612
  • Apr 19, 2018 11:02pm Apr 19, 2018 11:02pm
Quoting yumademe
{quote} Yeah placed a SL just in case haha
Shift down your stops when you need to
  • #459,613
  • Apr 19, 2018 11:34pm Apr 19, 2018 11:34pm
Who can tell me fundamental reason for GBP being so cheap?
  • #459,614
  • Apr 19, 2018 11:34pm Apr 19, 2018 11:34pm
It Went down already. Got stop out trying to scalp for long.
  • #459,615
  • Apr 20, 2018 12:04am Apr 20, 2018 12:04am
From here to 1.4027 will determine the true will power of bulls
  • #459,616
  • Apr 20, 2018 12:41am Apr 20, 2018 12:41am
Quoting Trade-G
From here to 1.4027 will determine the true will power of bulls
Yup. Gonna wait and see what happen fron there. One thing I learn is when trading forex need to be patient. And shall be impulsive or get emotional. Learnt that thetime hard way. Really hard way. Still learning n trying toto discipline myself.
  • #459,617
  • Apr 20, 2018 12:45am Apr 20, 2018 12:45am
Cable down ?
  • #459,618
  • Apr 20, 2018 3:32am Apr 20, 2018 3:32am
Quoting Trade-G
{quote} Yes you are right "probability" and I would have thought having a downtrendline gives a high probability for a Short trade short at region 1.4240 with stops at 1.4250 with a win ratio to 1.4100 (conservatively) 0.0010 vs 0.0120 at least
I think most of us called the smaller timeframes short trade yesterday at 4240. I didn't have 1.41 as a target from my probability point of view. Hence why I close my short for just 50 pips yesterday back at the then current support area.

On the daily/weekly term timeframes the long trade IMO was still the way to go. Only until we had that special news from Carney and BOE did the outlook change and price broke out South.
  • #459,619
  • Apr 20, 2018 3:37am Apr 20, 2018 3:37am
Quoting greengp
{quote} all written in the chart. daily was week from three days back
He can see it too... well its just probability...
  • #459,620
  • Apr 20, 2018 3:39am Apr 20, 2018 3:39am
the immediate tl comes from a lot further back
I think it forgot it lol
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