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Cable Update (GBPUSD)

  • #461,501
  • Jun 26, 2018 7:02am Jun 26, 2018 7:02am
Quoting Trade-G
{quote} Any new chart for directions?
Sorry TG I have been out for while.

It depends what chart you trade... I trade the 5 min and target 40 pips with 3 individual trades. Once I get the three trades with a B/E stop I just walk away and let it do its thing.

Todays trades was text book perfect, it began exactly on time with support for the bulls, retested the support (for the second entry) and then crossed my test line for the pending third entry. All within the space of ten pips.
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  • #461,502
  • Jun 26, 2018 7:16am Jun 26, 2018 7:16am
The above chart is very similar each day. Whichever side finds support first on or about that purple vertical is the way I am going to trade with an early stop out if I am wrong.

Yesterday was a dud, I had it the correct way but I was stopped out for B/E because it failed to make 40 pips.

When we look at the 1 hour (bigger range) we see we are just drifting sideways though the average is still bullish. The question is can the bulls stop the average before it makes a lower low. We should assume not because the bulls failed to test the top so the bears test the opposite (south) side. If both fail we have a rage we need to break out of.
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  • #461,503
  • Jun 26, 2018 7:26am Jun 26, 2018 7:26am
Quoting Nala66
{quote} Sorry TG I have been out for while. It depends what chart you trade... I trade the 5 min and target 40 pips with 3 individual trades. Once I get the three trades with a B/E stop I just walk away and let it do its thing. Todays trades was text book perfect, it began exactly on time with support for the bulls, retested the support (for the second entry) and then crossed my test line for the pending third entry. All within the space of ten pips. {image}

I took the same trade after retesting bear support but how do you determine the exit rule in the chart on what basis? is that previous bull support?
  • #461,504
  • Jun 26, 2018 8:07am Jun 26, 2018 8:07am
Quoting Nala66
I don't see any shorts just yet in fact it looks like he bulls are ready set go to take the average above the 3286 swing and from then on it is a nice run up to the 3390 average swing. {image}
I though you were long.... so at the end you turned short...
  • #461,505
  • Jun 26, 2018 8:16am Jun 26, 2018 8:16am
Quoting sat007
{quote} I took the same trade after retesting bear support but how do you determine the exit rule in the chart on what basis? is that previous bull support?
No not a support, as I said I set the TP 40 pips below my last entry or lowest entry in this case. It was just a coincidence this was the same distance as the previous swing low of the average. I trade these averages exclusively all the time, they are often resistance levels for either side and since price itself will have to break these levels to make a HH or LL average they are obviously good targets to aim for.
  • #461,506
  • Jun 26, 2018 8:23am Jun 26, 2018 8:23am
Quoting Trade-G
{quote} I though you were long.... so at the end you turned short...
Naw TG I don't start to trade until the purple vertical line.

I keep saying time and time again...

5 min chart

1) Are we trading above or below the average...Below

2) Have the bears found support...Yes

We are short. We can stay short until the market changes or we can just close when we reach our profit target.

Unless we get stopped out quickly we need only make the one trade per day.
  • #461,507
  • Jun 26, 2018 8:26am Jun 26, 2018 8:26am
neutral outlook on this pair, 1.336 is strong resistance and maybe selling is better than buying near that level since it is unlikely to get above

waiting for a good price to sell from
Don't Worry Be Happy
  • #461,508
  • Jun 26, 2018 8:30am Jun 26, 2018 8:30am
Quoting Nala66
{quote} Give it time..Gee a small retracement and panic sets in.
And I thought you were long....
  • #461,509
  • Jun 26, 2018 9:00am Jun 26, 2018 9:00am
I just hope those that gives their comments can provide their bias and SL should it turn otherwise, am not against anyone at all. When it turned up to the 1.3290 top zone this morning, H4 broke the down trendline resistance, apparently it is bullish but the events turned, when H1 broke a swing based support and eventually the day pivot. Otherwise those learning to trade can get disheartened, or at least they may understand why the change of events. My thoughts.
  • #461,510
  • Jun 26, 2018 9:30am Jun 26, 2018 9:30am
My take, as long as 1.3200 region remains supported, the bias may still be for mid term long. Weekly pivot is still supported at 1.3226 by H4 and H1, a push upwards from here will definitely be favourable.
  • #461,511
  • Jun 26, 2018 9:51am Jun 26, 2018 9:51am
Quoting Trade-G
My take, as long as 1.3200 region remains supported, the bias may still be for mid term long. Weekly pivot is still supported at 1.3226 by H4 and H1, a push upwards from here will definitely be favourable.
twice test n can push down
long small lots n watching w/cup
just for a cup of coffee...
  • #461,512
  • Jun 26, 2018 9:54am Jun 26, 2018 9:54am
Quoting akim0895
{quote} twice test n can push down long small lots n watching w/cup
Yes it can also be the case, then the bullish bias will slowly diminished
  • #461,513
  • Jun 26, 2018 10:05am Jun 26, 2018 10:05am
Quoting Trade-G
{quote} Yes it can also be the case, then the bullish bias will slowly diminished
add more 1.3230
sL 1.320
just for a cup of coffee...
  • #461,514
  • Jun 26, 2018 11:29am Jun 26, 2018 11:29am
I thought we would get some upside today but it's as clear as mud for me atm

I think downside looks the more likely if we stay under yesterdays pivot.

Needs a kick, maybe Carney speach tomorrow for a lift? .

Volume over the longer frames is negitive and with June / Quart end it looks like nowhere/sidway/down for the £ unless Mrs May get her finger out of her ....

OK for scalping
All charts/ideas based on UK time zone
  • #461,515
  • Jun 26, 2018 12:46pm Jun 26, 2018 12:46pm
lets see 1.320 break or not?
just for a cup of coffee...
  • #461,516
  • Jun 26, 2018 12:49pm Jun 26, 2018 12:49pm
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www.sme-fx.com
  • #461,517
  • Jun 26, 2018 12:49pm Jun 26, 2018 12:49pm
The SM is coming for you!

I have WARNED you.

NO supply and demand.

SM killing DM.

DONT be the DM.

Stay safe.
FF
www.sme-fx.com
  • #461,518
  • Jun 26, 2018 12:53pm Jun 26, 2018 12:53pm
Quoting FractalFreak
The SM is coming for you! I have WARNED you. NO supply and demand. SM killing DM. DONT be the DM. Stay safe. FF
thanks mate
no trade after buy earlier n hit at BE..
waiting for w/cup match mate
just for a cup of coffee...
  • #461,519
  • Jun 26, 2018 2:08pm Jun 26, 2018 2:08pm
1.3221 Custers last stand June 25th 1876 can you see the connection? me neither, ha just for fun

1.3221 bighorn level
All charts/ideas based on UK time zone
  • #461,520
  • Jun 26, 2018 5:06pm Jun 26, 2018 5:06pm
On the daily, selling rallies seems the path of least resistance, (so to speak)

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