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Cable Update (GBPUSD)

  • #460,441
  • May 10, 2018 8:34am May 10, 2018 8:34am
Don't take this for granted
  • #460,442
  • May 10, 2018 8:42am May 10, 2018 8:42am
Quoting el_duende
{quote} Price just spiked 50 pips at round the level we were mentioning, on a short term basis you can trade counter to the trend at interesting levels.

Sure.... I just don't have the nuts for it I guess...
  • #460,443
  • May 10, 2018 8:43am May 10, 2018 8:43am
I wouldn't dream of going long just yet.
Im short again, looking for 1.3425 ish
It's a big game.
  • #460,444
  • May 10, 2018 9:47am May 10, 2018 9:47am
3474 could be a return
  • #460,445
  • May 10, 2018 10:17am May 10, 2018 10:17am
disgust this type of PA . (expanding triangle)
Attached Image (click to enlarge)
Click to Enlarge Name: Captura de ecra de 2018-05-10 18:13:54.png Size: 117 KB
  • #460,446
  • May 10, 2018 10:46am May 10, 2018 10:46am
Quoting TheWealth
{quote} 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. {image}
Update :


As long as 1.34576 is still stand not broken or daily close below this figure, a possible reversal will be in place.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm-d1-exness-ltd-2.png Size: 55 KB
  • #460,447
  • May 10, 2018 10:53am May 10, 2018 10:53am
Quoting TheWealth
{quote} Update : As long as 1.34576 is still stand not broken or daily close below this figure, a possible reversal will be in place. {image}
The PA will run down the lows in London. Let us trade that.

Yes, 3457 is very important support.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 56 KB
Intraday only.
  • #460,448
  • May 10, 2018 11:07am May 10, 2018 11:07am
Quoting chess king
disgust this type of PA . (expanding triangle) {image}
Mmmm interesting
  • #460,449
  • May 10, 2018 11:09am May 10, 2018 11:09am
Quoting Trade-G
{quote} Oh... I immediately went in to buy after you mentioned buy below, and was out for a nice scalp long (not recommended move)
Remembering your 4 hour chart you posted the one I asked about breaking the tl ..E
  • #460,450
  • May 10, 2018 12:40pm May 10, 2018 12:40pm
Quoting Cwsjr
You all a bunch of crazy mofos with these longs against the trend... I get it, I get it......... Supply/Demand.....Can't go one direction forever......it is oversold..... so on and son on..... I just haven't seen one thing on the charts for 3 1/2 weeks that suggest I should buy... Guess that is why we all have our own views. So many chances for shorts over that time after pullbacks... Please someone help me make sense of all the long ideas...
Sometimes I get the idea that the pros are in the market so I try to jump on the bulls train but that's just me we all have different ideas. I confess I am a bit of a permabull atm but I have no loyalties

Here are some clear differences on different time frames. The 4 hour is a no brainer short but I still like my longs
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4.PNG Size: 33 KB
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All charts/ideas based on UK time zone
  • #460,451
  • May 10, 2018 1:04pm May 10, 2018 1:04pm
Quoting sponge
At the moment this market is testing 3585 if this holds it will give a target of 1.3690 area imo Anyone tried market timing? I'm really interested in this if anyone has any ideas. My shot at timing this pair says we turn or stall Friday 18th May + - 3
With the print of a new low today this projection is now void as long as the new low is in place, the new projection is 23rd May
All charts/ideas based on UK time zone
  • #460,452
  • May 10, 2018 1:30pm May 10, 2018 1:30pm
Consolidation going on wait
  • #460,453
  • Edited 3:09pm May 10, 2018 2:50pm | Edited 3:09pm
1 minute chart and notice the 50 pip spike in around 15 seconds. This occured on all GBP pairs too and multiple brokers. This occured at 4.05 just after the London fix.

During a downtrend and percieved bad news for pound very odd.

Could it be a big player has just cashed in (some/all) their short GBP positions?
Stops being hunted? not so sure as spike was so strong.
Commercial needing large order of pounds and bank making money on the transaction?
Carney talking on BBC at this time/

Just speculating on the cause be interesting to see what happens in coming days to see if it has any relevence at all.
Attached Image (click to enlarge)
Click to Enlarge Name: InkedGBPUSDM1_LI.jpg Size: 511 KB
  • #460,454
  • May 10, 2018 4:04pm May 10, 2018 4:04pm
Quoting el_duende
1 minute chart and notice the 50 pip spike in around 15 seconds. This occured on all GBP pairs too and multiple brokers. This occured at 4.05 just after the London fix. During a downtrend and percieved bad news for pound very odd. Could it be a big player has just cashed in (some/all) their short GBP positions? Stops being hunted? not so sure as spike was so strong. Commercial needing large order of pounds and bank making money on the transaction? Carney talking on BBC at this time/ Just speculating on the cause be interesting to see what happens...
Due to some Bloomberg news, the spike. I am one of the beneficiary.
Intraday only.
  • #460,455
  • May 10, 2018 4:31pm May 10, 2018 4:31pm
Long until London open. Price may hit 1.3540/50.
Short after London open. Interest up to 1.3450.
Intraday only.
  • #460,456
  • May 10, 2018 6:08pm May 10, 2018 6:08pm
Closed my longs at 1.3531. Just 13 pips. Not very keen in long trades.

Will look to short during London open.
Intraday only.
  • #460,457
  • May 10, 2018 11:17pm May 10, 2018 11:17pm
Yesterdays move currently testing 61.8 at 3520 (lower high) weak volume for now, lost it's bullish ooph atm
All charts/ideas based on UK time zone
  • #460,458
  • May 11, 2018 12:01am May 11, 2018 12:01am
Pullback from 38.2% Weekly Fibo could be retested today?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm-w1-exness-ltd.png Size: 53 KB
  • #460,459
  • May 11, 2018 12:10am May 11, 2018 12:10am
3500 is the obvious magnet atm, I think the bears have a target around 3492/83 but if the bulls are still in we should go back to daily pivot via 3520 imo
All charts/ideas based on UK time zone
  • #460,460
  • May 11, 2018 12:20am May 11, 2018 12:20am
Next targets for bulls 1.3560, 1.3590 then we can see reversal down.
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