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Cable Update (GBPUSD)

  • #460,581
  • May 17, 2018 10:58am May 17, 2018 10:58am
Quoting Luzbay
{quote} I'm not sure, I've just taken a short at 1.3505, targetting 1.3350. I guess opposing views is what makes the market tick!
Indeed buddy someone has to be willing to sell for someone to buy!

for me it’s creating a rounding bottom in a demand zone you can see each low (denoted by blue lines) are getting closer and loosing momentum to bears.
  • #460,582
  • May 17, 2018 11:07am May 17, 2018 11:07am
GBP strengthening?
  • #460,583
  • May 17, 2018 11:08am May 17, 2018 11:08am
Quoting Suj
GBP strengthening?
That’s my opinion well against the dollar
not against the yen
  • #460,584
  • May 17, 2018 11:17am May 17, 2018 11:17am
Hi all

Total newbie to the site and to forex in general. I am long at the moment. Does anyone believe the royal wedding will have an effect on the pound ?
  • #460,585
  • May 17, 2018 1:54pm May 17, 2018 1:54pm
Quoting Jon34
Hi all Total newbie to the site and to forex in general. I am long at the moment. Does anyone believe the royal wedding will have an effect on the pound ?
nope but pound looks like its going to strenghen according to charts for now
  • #460,586
  • May 17, 2018 2:19pm May 17, 2018 2:19pm
Mid-Term to Long Term Bulls' Targets in the chart below. Be prepared in the coming weeks!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm-m30-exness-ltd-2.png Size: 53 KB
  • #460,587
  • May 17, 2018 3:18pm May 17, 2018 3:18pm
Quoting navk
I picked up some in this bullish divergence ( Long trade ). Trade Closed. {image}
I see a higher low on both price and indicator, but where is the divergence?
Come with me if you want to live....
  • #460,588
  • May 17, 2018 4:06pm May 17, 2018 4:06pm
Quoting Ill-b-back
{quote} I see a higher low on both price and indicator, but where is the divergence?
see the picture attached with the post.
Intraday only.
  • #460,589
  • May 17, 2018 4:55pm May 17, 2018 4:55pm
Quoting navk
{quote} see the picture attached with the post.
Your picture was what I was referring to.
I see 3 swing lows in price with corresponding swing lows on your indicator.
I don't see any divergence though.
For a classic bullish divergence, you need a lower swing low in price, with the indicator showing a higher swing low at the same market time.
Come with me if you want to live....
  • #460,590
  • May 17, 2018 6:07pm May 17, 2018 6:07pm
Quoting Ill-b-back
{quote} Your picture was what I was referring to. I see 3 swing lows in price with corresponding swing lows on your indicator. I don't see any divergence though. For a classic bullish divergence, you need a lower swing low in price, with the indicator showing a higher swing low at the same market time.
Agreed. Yes. It is not divergence. Will remove my post.
Intraday only.
  • #460,591
  • May 18, 2018 2:22am May 18, 2018 2:22am
We've had some significant changes in volume but still no real direction, price action seems to suggest 50/50 bear / bull atm

1.3500 still the magnet 1.3460 could start the slide, clear as mud
All charts/ideas based on UK time zone
  • #460,592
  • May 18, 2018 2:35am May 18, 2018 2:35am
Quoting sponge
We've had some significant changes in volume but still no real direction, price action seems to suggest 50/50 bear / bull atm 1.3500 still the magnet 1.3460 could start the slide, clear as mud
I agree, but I think the slide could start a little earlier if it breaks (1.3480-ish), because price has been bottled up for so long.

I definitely see a surge, one way on the other, on the horizon.
  • #460,593
  • May 18, 2018 2:47am May 18, 2018 2:47am
I recommend to buy the cable from current price @ 1.3507 TP1 1.3540 TP2 1.3570 SL 1.3460. From there, we may find higher selling to break below 1.3550 today or next week and after that buying from the bottom if we can. Friday have often all surprises and possibilities. Trade with caution today.
  • #460,594
  • May 18, 2018 2:59am May 18, 2018 2:59am
Bought GU. Stop 1.3500
Intraday only.
  • #460,595
  • May 18, 2018 3:13am May 18, 2018 3:13am
For a difference of opinion, I'm short from 1.3518.
  • #460,596
  • May 18, 2018 3:21am May 18, 2018 3:21am
Quoting TheWealth
I recommend to buy the cable from current price @ 1.3507 TP1 1.3540 TP2 1.3570 SL 1.3460. From there, we may find higher selling to break below 1.3550 today or next week and after that buying from the bottom if we can. Friday have often all surprises and possibilities. Trade with caution today.
As long as 1.3450 is not surpassed, first target for cable is 1.3520 following with 1.3540.
The Bollinger Bands is shrinking in different frames. High volatility is expected very soon.
  • #460,597
  • May 18, 2018 3:21am May 18, 2018 3:21am
I'm short GN atm
All charts/ideas based on UK time zone
  • #460,598
  • May 18, 2018 3:22am May 18, 2018 3:22am
Quoting TheWealth
{quote} As long as 1.3450 is not surpassed, first target for cable is 1.3520 following with 1.3540. The Bollinger Bands is shrinking in different frames. High volatility is expected very soon.
Agree re upcoming volatility!

What timeframe(s) are you trading?
  • #460,599
  • May 18, 2018 3:35am May 18, 2018 3:35am
Quoting Luzbay
{quote} Agree re upcoming volatility! What timeframe(s) are you trading?
All frames.
  • #460,600
  • May 18, 2018 3:37am May 18, 2018 3:37am
Quoting sponge
1.3483 support atm, possible bullish phase starting 1.3490 area, volume negitive though
I think we could still see some support around 1.3490 bears will be eying the weekly fib 1.3390ish
All charts/ideas based on UK time zone
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