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Cable Update (GBPUSD)

  • #460,021
  • May 3, 2018 4:27am May 3, 2018 4:27am
Quoting Trade-G
{quote} Stalled at 1.3664..... never went past that
soon WILL, facilitating NFP Bulls to retrace
  • #460,022
  • May 3, 2018 4:29am May 3, 2018 4:29am
1.35995 region to watch
  • #460,023
  • Edited 5:06am May 3, 2018 4:54am | Edited 5:06am
Granted it could go lower but look at the health of the trend.
note how the projection is decreasing (pink/purple) and depth is increasing (red)
momentum prjection depth is used to view the health of a trend and at this minute the bear don’t look healthy
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  • #460,024
  • May 3, 2018 5:09am May 3, 2018 5:09am
So the bulls both the bulls and bears cannot find support just yet on the 1 hour so dropping to the 5 min we see the bulls winning out.

I have put a black line to indicate where the pending orders go. Now the one hour order is removed and stop tightened on the 5 min.
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  • #460,025
  • May 3, 2018 5:10am May 3, 2018 5:10am
And now stopped out....Pending order replace on the 1 hour
  • #460,026
  • May 3, 2018 5:18am May 3, 2018 5:18am
Back in at the same place long on the 5 min, the bears failed the retest so far.
  • #460,027
  • May 3, 2018 5:21am May 3, 2018 5:21am
Stopped out again this time for a loss of 4.6 pips.

I'll quit for a while because this is just stuffing about.
  • #460,028
  • May 3, 2018 5:32am May 3, 2018 5:32am
Quoting Nala66
Stopped out again this time for a loss of 4.6 pips. I'll quit for a while because this is just stuffing about.
Yo heard you went fishing.... any otoro for us?
  • #460,029
  • May 3, 2018 5:35am May 3, 2018 5:35am
Quoting Ill-b-back
{quote} No Sir, I do think yourself and some others have nailed it. Daily/4hr reaction to the line is clear and a retest of the broken support would be good for 3557 area. {image} {image} {image}
Despite hitting target, Daily PA is not overly convincing for a long term turnaround, so I still think a retest of the resistance zone above is a decent RR sell.
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Come with me if you want to live....
  • #460,030
  • May 3, 2018 5:38am May 3, 2018 5:38am
Quoting Trade-G
{quote} Yo heard you went fishing.... any otoro for us?
Nah! sorry I like my fish with hot chips
  • #460,031
  • May 3, 2018 5:48am May 3, 2018 5:48am
Quoting Nala66
Stopped out again this time for a loss of 4.6 pips. I'll quit for a while because this is just stuffing about.
seems like it's building Igrok's Diamond Pattern in TF M5
  • #460,032
  • May 3, 2018 5:51am May 3, 2018 5:51am
GU intraday

on the H4, H1 the trend is down, search short entry.
possible diamond pattern on M5.
sell stop .3589
sl .3620
target .3539
rr 1.6

good luck!
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Anything is math!
  • #460,033
  • May 3, 2018 6:00am May 3, 2018 6:00am
Quoting Kajos2250
GU intraday on the H4, H1 the trend is down, search short entry. possible diamond pattern on M5. sell stop .3589 sl .3620 target .3539 rr 1.6 good luck! {image}
and now we have inverse HnS in M15 which is contra direction to M5's diamond LOL
  • #460,034
  • May 3, 2018 6:02am May 3, 2018 6:02am
Bingo...Well done on that pair John. Did you notice there was also one yesterday which took far less time.
  • #460,035
  • May 3, 2018 6:03am May 3, 2018 6:03am
Quoting Olabanji-Tex
{quote} Thank you very much
Hi mate.

Regarding your pm. Could not post images via pm.
These are pivot points for 24hour period.

1: go to chart
2: go to indicator icon
3: open indicator studies
4: scroll down to pivot points
5: click OK to apply pivot points
6: pivot points applied to chart.
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FREEDOM IS SECURITY.
  • #460,036
  • May 3, 2018 6:07am May 3, 2018 6:07am
Quoting Olabanji-Tex
{quote} Thank you very much
Hi mate

And also weekly can be found here.
https://s.tradingview.com/widgetembe...OANDA%3AGBPUSD
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FREEDOM IS SECURITY.
  • #460,037
  • May 3, 2018 6:10am May 3, 2018 6:10am
Quoting SweetRevenge
{quote} and now we have inverse HnS in M15 which is contra direction to M5's diamond LOL
i do not fight the trend, i skip the contra entries!
although i can not see it.
Anything is math!
  • #460,038
  • May 3, 2018 7:03am May 3, 2018 7:03am
Well that was a profitable hour or so on the 5 min.

I managed to get three short trades on closing them when the RSI was in divergence with itself. Then went long to close at the EMA, Should have held a tad longer but profit is profit and the NFP is coming up after I grab a coffee
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  • #460,039
  • May 3, 2018 7:13am May 3, 2018 7:13am
Quoting Nala66
{quote} Sure thing... I regard support as being a FOUND position. That is to say price crosses the 26EMA (or the same thing with the RSI 50% level) and then fails to get back and close. Hence support has been found for one side or the other. As you can see on the last 1 hour chart I posted the bears found support (level 6) and bulls have just taken it out so it no longer exists as a bear support or bull resistance. In doing this the bulls were unable to establish support for themselves and down it comes. Very rarely do these levels marry up with...
Thanks nala. I'm still quite confused LOL. Will need some time to digest this. Nevertheless, thanks again for the explanation ^^
  • #460,040
  • May 3, 2018 7:30am May 3, 2018 7:30am
Quoting tunamelt
{quote} Thanks nala. I'm still quite confused LOL. Will need some time to digest this. Nevertheless, thanks again for the explanation ^^
See if this helps you...
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