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Cable Update (GBPUSD)

  • #460,141
  • May 6, 2018 8:27pm May 6, 2018 8:27pm
Quoting Trade-G
I still see no reversal sign on my M5
Depends what you view as a sign TG
  • #460,142
  • May 6, 2018 8:29pm May 6, 2018 8:29pm
Quoting dean1star
Shorts aint over yet thats for sure ..
There is always one who is sure despite the evidence.
  • #460,143
  • May 6, 2018 8:51pm May 6, 2018 8:51pm
Inserted Video
  • #460,144
  • May 6, 2018 10:05pm May 6, 2018 10:05pm
No bull support on the 1 hour...New bear support on the 5 min
  • #460,145
  • May 6, 2018 10:23pm May 6, 2018 10:23pm
Gbp/Usd is consolidating in the negative territory, the pair is still under a lot of pressure, and found support zone around 1.3480/85, break below would lead to further decline.
  • #460,146
  • May 6, 2018 11:01pm May 6, 2018 11:01pm
Scalped longs closed, phew....
  • #460,147
  • May 6, 2018 11:04pm May 6, 2018 11:04pm
M1 have a downtrend line break, if it holds and next upswing will look promising
  • #460,148
  • May 6, 2018 11:16pm May 6, 2018 11:16pm
Conflicting on M1 and M5, M5 needs to show strength else it may not be going up
  • #460,149
  • May 6, 2018 11:26pm May 6, 2018 11:26pm
Quoting Trade-G
Conflicting on M1 and M5, M5 needs to show strength else it may not be going up
Yep 5 min locked between bull and bear supports very tightly.. I will wait awhile to see who shows their hand.

Though on the 5 min we now have two bear supports so it should be going south
  • #460,150
  • May 7, 2018 12:20am May 7, 2018 12:20am
Quoting Nala66
{quote} Depends what you view as a sign TG
Still no signal
  • #460,151
  • May 7, 2018 12:23am May 7, 2018 12:23am
Might be a sideways market until those who long give up and shorts too.... then a surprise move for a more directional trend....
  • #460,152
  • May 7, 2018 12:47am May 7, 2018 12:47am
M5 now looks quite good need to clear 1.3548
  • #460,153
  • May 7, 2018 12:50am May 7, 2018 12:50am
Both the bull and bear minor supports have been taken out now. The 35259 bull support remains on the 5 min. This could be the start of a bear support on the 1 hour.

Too whippy for me yet.
  • #460,154
  • May 7, 2018 12:59am May 7, 2018 12:59am
Quoting Trade-G
M5 now looks quite good need to clear 1.3548
Sweet let it run
  • #460,155
  • May 7, 2018 1:05am May 7, 2018 1:05am
Need the pullback to hold for more upside
  • #460,156
  • May 7, 2018 1:50am May 7, 2018 1:50am
GU intraday

H4, H1 trend is bearish, search short entry.
~3550 broken support under testing, trade when trend shift bearish on the M5 time frame.
sell stop .3526
sl, invalidation if price close above .3558.
target january support ~3483.
rr > 1.3.

good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: GU_m5_intraday_4.png Size: 51 KB
Anything is math!
  • #460,157
  • May 7, 2018 3:03am May 7, 2018 3:03am
Market still playing silly buggers I see....
  • #460,158
  • May 7, 2018 3:05am May 7, 2018 3:05am
Bears continue to lower the average on the 5 min. So slow though
  • #460,159
  • May 7, 2018 3:10am May 7, 2018 3:10am
Quoting Nala66
Bears continue to lower the average on the 5 min. So slow though
Bank holiday in the UK today - much less volume in the market.
  • #460,160
  • May 7, 2018 3:48am May 7, 2018 3:48am
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_3065.PNG Size: 71 KB
we can see it hit resistance came down and hit resistance again so do we wait and saw what happens or add another short and stop at that last point .. if it goes over 3564 we could be looking at trend change !!!!!
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