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Cable Update (GBPUSD)

  • #460,261
  • May 8, 2018 4:13pm May 8, 2018 4:13pm
Quoting crazydad
I can't be bullish {image}
Dam How do traders like yourself trade this way I can’t see anything on your chart!! Lol

im bullish GU in demand and Dollar index has rejected my supply
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  • #460,262
  • May 8, 2018 4:32pm May 8, 2018 4:32pm
Have we hit the bottom?

This is the question I am asking myself due to the lack of bearish impulse at this level on the 4 hour chart.

What this means is I cannot gain any further analysis from this chart and have to drop lower to find trades.
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  • #460,263
  • May 8, 2018 4:47pm May 8, 2018 4:47pm
Yesterday was a lot better than the previous one as we again saw the attempt from the bears to break the 3501 average and failed to do so. Price bouncing from it and now we see the bulls have FOUND support on the 1 hour indicating we are now headed to the 3606 level if they can hold this support.
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  • #460,264
  • May 8, 2018 4:48pm May 8, 2018 4:48pm
Quoting Neil0163
{quote} Dam How do traders like yourself trade this way I can’t see anything on your chart!! Lol im bullish GU in demand and Dollar index has rejected my supply {image}
I'm in the U.S.A. and bullish USD.

I only look at the asset I'm trading. No indexes/news or anything that isn't pure price action. I just believe everything I need to know is reflected in the chart. I only look at a couple indicators and watch for divergence for entry/exit on shorter TF. Right now my nemesis is timing. But I am a die hard short term scalper and don't apologize for it.

1mn, 5mn, 15mn, 1Hr, RSI/CCI. That's all. Actually, that's all my geriatric brain can process.

Best of luck to you with your strategy.

T
Manage Your Money-or-You Will Manage to Lose It
  • #460,265
  • May 8, 2018 5:08pm May 8, 2018 5:08pm
Now on the 1 hour looking for an impulse to drag the average up to make a HH, The average is holding as a resistance thus far.
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  • #460,266
  • May 8, 2018 9:08pm May 8, 2018 9:08pm
Quoting navk
My entries today will be between 1.3530 - 1.3500. Stop 1.3480
Changed my limit orders.

1.3515 - 1.3490.

Stop below 1.3480.
Intraday only.
  • #460,267
  • May 8, 2018 10:33pm May 8, 2018 10:33pm
Well the bulls were unable to produce an impulse bar to make the average HH so the test is on for the bears to break the average LL. The bears have found support on the 1 hour taking out the bull support so we could be looking at yet another retest of the 3501 average.

On the 5 min we see the bears have been getting support all day long. Is Europe going to follow the Asian lead?
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  • #460,268
  • May 8, 2018 11:16pm May 8, 2018 11:16pm
Back at 1.3528 resistance for now, we have a fair amount of volume around this price it could be quite bullish if it trades over however, another test of the daily pivot wouldn't surprise, the longer term volume paints a bearish picture atm. The market may just be waiting for news.
All charts/ideas based on UK time zone
  • #460,269
  • May 8, 2018 11:31pm May 8, 2018 11:31pm
Morning just woke to find 4 long trades were pp on 3540 so it had resistance to that 3560 area again so watch 3518 here
  • #460,270
  • May 9, 2018 12:23am May 9, 2018 12:23am
I've been resisting taking GU longs in this trend, but I feel that there could be an opportunity in the next 48 hours.

On the sidelines until the market invites me in.
  • #460,271
  • May 9, 2018 12:43am May 9, 2018 12:43am
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loverly start to the day locked in the profit . Are we seeing a bounce here
  • #460,272
  • May 9, 2018 2:06am May 9, 2018 2:06am
New 4 hour candle just opened look to bring up pp now .. tread carefull thou big lots at stake
  • #460,273
  • May 9, 2018 2:25am May 9, 2018 2:25am
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started with this bottom look for today's move and target hit on that green line so let's see if that's a strong bottom
  • #460,274
  • May 9, 2018 2:32am May 9, 2018 2:32am
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so it does look on this 4 hour a possible but on this shorts trend is it ???
  • #460,275
  • May 9, 2018 2:35am May 9, 2018 2:35am
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bounce area possible for long again .. I missed the opportunity it scalp it short with posting
  • #460,276
  • May 9, 2018 2:57am May 9, 2018 2:57am
The pair is playing silly buggers again bouncing between supports on the 5 min and the averages on the 1 hour.

We need an impulse bar on the hour to break those averages one way or the other.
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  • #460,277
  • May 9, 2018 3:10am May 9, 2018 3:10am
Quoting Nala66
The pair is playing silly buggers again bouncing between supports on the 5 min and the averages on the 1 hour. We need an impulse bar on the hour to break those averages one way or the other. {image}
Hi it's a good opportunity for making some good pips with that tight stop but not to be greedy I has total of 92 pips this morning on 3 trades one was 10 lots so make hay while the sun shines .. Regards E
  • #460,278
  • May 9, 2018 3:25am May 9, 2018 3:25am
Quoting elbert3
{quote} Hi it's a good opportunity for making some good pips with that tight stop but not to be greedy I has total of 92 pips this morning on 3 trades one was 10 lots so make hay while the sun shines .. Regards E
Excellent, I like to see people making money
  • #460,279
  • May 9, 2018 3:29am May 9, 2018 3:29am
Quoting Nala66
{quote} Excellent, I like to see people making money
lol thanks I did lose a few pounds trying but came out on the top of the right side . If if one can see or find that little trend inside the bigger 4 hour chart when you can see to you left on the 1and 5 min the possible s/r it's worth a 5 pop stop when you see them .. if you can understand what I mean . Regards E
  • #460,280
  • May 9, 2018 4:00am May 9, 2018 4:00am
Quoting elbert3
{quote} lol thanks I did lose a few pounds trying but came out on the top of the right side . If if one can see or find that little trend inside the bigger 4 hour chart when you can see to you left on the 1and 5 min the possible s/r it's worth a 5 pop stop when you see them .. if you can understand what I mean . Regards E
Good call just shifted upwards.
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