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Cable Update (GBPUSD)

  • #460,341
  • May 9, 2018 5:48pm May 9, 2018 5:48pm
Quoting navk
{quote} ha..ha.. That is me at my younger age.
haha
Attached Image
  • #460,342
  • May 9, 2018 5:49pm May 9, 2018 5:49pm
ING experts believe that the future dynamics of the pound will determine how strongly Mark Carney is set to raise rates in the future.

"Based on the dynamics of profitability of short - term British bonds, we can say that the ratio of risk and profitability favors the purchase of the pound/dollar", - write the currency strategies of the Bank. - "The sharp movements of the pound up and down in the last month indicate that market participants are still difficult to navigate in the post-brexit world. We think that on Thursday the decision Of the Bank of England will set the tone of the pound for the whole summer. Most likely, the regulator will issue " all " (raise rates and open the way for at least another increase this year) or "nothing" (rates will not increase and will not signal future increases). In our opinion, the rate of the pound against the dollar and the Euro to around $1.35 and stg0.8750 looks understated, so if tomorrow the Bank of England is hawkish, then the first cross within the second quarter return to $1.40, and the second to remain in the range of stg0.87-stg0.88 on the background of General strengthening of the Euro across the entire spectrum of the market»
  • #460,343
  • May 9, 2018 5:49pm May 9, 2018 5:49pm
Quoting navk
{quote} My plan is like this : Long from present price, stop 1.3540. Until London open. Then based on PA. Probably from London open, the price would revisit 1.3490 or even below.
You place an 8-pips stop? I noticed in one of your previous comments, you use a combination of MAs and MACD, right?

Also, if you don't mind, based on what do you anticipate a revisit of the 1.3490 level?

Thanks
  • #460,344
  • May 9, 2018 6:21pm May 9, 2018 6:21pm
Quoting mr.fibo
{quote} You place an 8-pips stop? I noticed in one of your previous comments, you use a combination of MAs and MACD, right? Also, if you don't mind, based on what do you anticipate a revisit of the 1.3490 level? Thanks
yeah, 8 pips stop with risk and reward I expect 2 to 2.5 times.
Intraday only.
  • #460,345
  • May 9, 2018 6:31pm May 9, 2018 6:31pm
Well glad I went to bed because waiting for bull support would have been a waste of time because t didn't happen.

Price cannot take out a bear support without bull support.

The average on the 1 hour failed to take out the LL and has now failed to take out the HH as a result we have nothing at this time to go by.

I don't know what all the gibberish in the posts above is all about but it seems to me that most people just cannot read the charts despite all I have tried to teach here.

Yesterday I gave you all the 35016 bottom and the 3606 top and not one single person noted the FACT all I see is a whole heap of bullshit.

I give up and leave you all in the hands of the experts.
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  • #460,346
  • May 9, 2018 8:48pm May 9, 2018 8:48pm
Quoting navk
{quote} yeah, 8 pips stop with risk and reward I expect 2 to 2.5 times.
Seems going well as I expected. Will be closing around 1.3570.
Intraday only.
  • #460,347
  • Edited 9:23pm May 9, 2018 9:09pm | Edited 9:23pm
Close to the target. (When I am writing, it hit the target. )
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Intraday only.
  • #460,348
  • Edited 10:20pm May 9, 2018 9:39pm | Edited 10:20pm
Quoting mr.fibo
{quote} You place an 8-pips stop? I noticed in one of your previous comments, you use a combination of MAs and MACD, right? Also, if you don't mind, based on what do you anticipate a revisit of the 1.3490 level? Thanks
My long trade went alright as you see.

Yes, I use Moving average and Macd.

NY long failed at Daily R1. Price closed at previous day open.

Means sellers prevailed.

One will look to trade on both ways if the candle close is at daily open.

This is why I took long trade and closed.

Now, if London traders push the price down ( not allowing to go up ), the price has to go down. Daily range is around 100 pips for this pair. Assuming that this pair fails again around 1.3570 or daily R1, then the downward target is 1.3489.


Now I have taken EURAUD long around 1. 5880. Stop 15 pips. ( Reason : The fall seems to have failed )

This is not the appropriate place to post chart.
Intraday only.
  • #460,349
  • Edited 10:30pm May 9, 2018 10:20pm | Edited 10:30pm
Quoting navk
{quote} My plan is like this : Long from present price, stop 1.3540. Until London open. Then based on PA. Probably from London open, the price would revisit 1.3490 or even below.
I agree with you. This might happen or the price will be in range until London open and the news. Anyway, 3 things still not good on charts and I still not feel comfortable with going long. First, the daily and weekly parabolic not strong enough to go will bulls, and second; the daily and weekly bollinger bands still have a space to go for more short. Lastly, the moving average 9 and 34 exponential on the 4H chart still not intersect over the middle bollinger bands.
Because of all stated above I suggest to go with a stop loss for either 2 possibilities:
1. Go long from near the present bottom with stop loss 1.3540. Or
2. from now go short with stop loss over 1.3570 say 1.3576. The target not less than 50 pts in either way.
Now for long term traders like me I suggest to go long or keep long with stop loss below 1.3400 with target 1.3900 because I can see that the price might not able to go below that level and in my prediction upon my technical analysis the price can make a new bottom this week may be with 7:00 am new that can help and on the other way from there the price start for slow or quick upward or pullback for correction that can start this week or next week in the worst case.
  • #460,350
  • May 9, 2018 10:24pm May 9, 2018 10:24pm
See this before any surprise above 1.3570
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  • #460,351
  • May 9, 2018 10:27pm May 9, 2018 10:27pm
Quoting TheWealth
{quote} I agree with you. This might happen or the price will be in range until London open and the news. Anyway, 3 things still not good on charts and I still not feel comfortable with going long. First, the daily and weekly parabolic not strong enough to go will bulls, and second; the daily and weekly bollinger bands still have a space to go for more short. Lastly, the moving average on 4H chart still not intersect over the middle bollinger bands. Because of all stated above I suggest to go with a stop loss for either 2 possibilities: 1. Go long...
I agree. Any price below 1.3500 is a very good long.

The PA usually reservist or breaks the previous low to go long.
Intraday only.
  • #460,352
  • Edited 10:44pm May 9, 2018 10:31pm | Edited 10:44pm
Most of these prices have a revisit soon.
For me I like of the price do a range between the support and resistance of yesterday. If the price can make a new high than yesterday it encourages bulls but it still needs a big boost upward to maintain the support (last low made before yesterday). I see there is a resistance around 1.3720 area and also the price may goes down from there until further buying from lower price. If someone have good knowledge on Elliot Waves or patterns may can help better on this.
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  • #460,353
  • May 9, 2018 10:47pm May 9, 2018 10:47pm
Becarefull guys, bear flag on daily chart, It could be TC..
  • #460,354
  • May 9, 2018 11:16pm May 9, 2018 11:16pm
Quoting gambe
Becarefull guys, bear flag on daily chart, It could be TC..
Good Notice. However, the price still did not create a right flag yet. See the other uptrend flag on the left side of the chart how it is made and how the price action went up then. With channels analysis I believe there is still a good support area around 1.34576. All possibilities or scenarios can be seen there with the news, let us be ready for any surprise hopefully.
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  • #460,355
  • May 9, 2018 11:31pm May 9, 2018 11:31pm
Some figures that might help:

Daily Pivot 1.35489
Weekly Pivot 1.36029
Weekly Resistance R38% 1.37191
Moving Average 55 @ 1.36364

Any daily close over these figures will help bulls and below these figures will definitely help bears for more short action.
  • #460,356
  • May 10, 2018 1:38am May 10, 2018 1:38am
Big gbp news today, 1.3585 should test again we could get a good long above imo, downside prob test daily pivot yet again
All charts/ideas based on UK time zone
  • #460,357
  • May 10, 2018 1:47am May 10, 2018 1:47am
Quoting Nala66
Well glad I went to bed because waiting for bull support would have been a waste of time because t didn't happen. Price cannot take out a bear support without bull support. The average on the 1 hour failed to take out the LL and has now failed to take out the HH as a result we have nothing at this time to go by. I don't know what all the gibberish in the posts above is all about but it seems to me that most people just cannot read the charts despite all I have tried to teach here. Yesterday I gave you all the 35016 bottom and the 3606 top and not...
Your views are always insightful....
  • #460,358
  • May 10, 2018 2:19am May 10, 2018 2:19am
it seems very unlikely the rate rise - http://www.bbc.co.uk/news/business-44055400

1.35 seems to be support on h4 but again my view if it breaks then 1.33 would be other support region for bulls....
  • #460,359
  • May 10, 2018 3:03am May 10, 2018 3:03am
Quoting navk
{quote} My plan is like this : Long from present price, stop 1.3540. Until London open. Then based on PA. Probably from London open, the price would revisit 1.3490 or even below.
My plans worked well for me.

Going well in my short too.
Intraday only.
  • #460,360
  • May 10, 2018 3:20am May 10, 2018 3:20am
Fireworks at 9:30 ?
All charts/ideas based on UK time zone
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