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Cable Update (GBPUSD)

  • #461,741
  • Jul 4, 2018 10:11am Jul 4, 2018 10:11am
it is scalping time
  • #461,742
  • Jul 4, 2018 4:38pm Jul 4, 2018 4:38pm
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to err is human
  • #461,743
  • Jul 4, 2018 4:50pm Jul 4, 2018 4:50pm
I'm not in a position to go long, but won't be surprised to see 1.33 again.
I don't think we've bottomed out longer term with a single touch on support either
Range in play I think.
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Come with me if you want to live....
  • #461,744
  • Jul 4, 2018 5:55pm Jul 4, 2018 5:55pm
Quoting aa4fx
just sold it from 1.3218, let's see if it makes any change
just went out @ 1.3222 with small loss, ...
  • #461,745
  • Jul 4, 2018 7:44pm Jul 4, 2018 7:44pm
Quoting Ill-b-back
I'm not in a position to go long, but won't be surprised to see 1.33 again. I don't think we've bottomed out longer term with a single touch on support either Range in play I think. {image}
i’m waiting mate if get there,will start shorting soon
just for a cup of coffee...
  • #461,746
  • Jul 4, 2018 9:17pm Jul 4, 2018 9:17pm
Short - intraday setup - H4 TF

Attached Image (click to enlarge)
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Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #461,747
  • Jul 4, 2018 10:10pm Jul 4, 2018 10:10pm
Market Analysis: price is ranging right now, however it is still weak up trend, If price move 30+ pips towards up then we suggest to enter for long trade & also if price cross lower band level then it might start a down trend.

Trading charts: M15, M30, H1, H4
Our recommendation: Market is ranging

lower band level 1: 1.3156
lower band level 2: 1.3113

Time: July 5, 11:04 AM (UTC+6)

Attached Image (click to enlarge)
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  • #461,748
  • Jul 4, 2018 10:17pm Jul 4, 2018 10:17pm
What about this last huge volume ?
  • #461,749
  • Jul 4, 2018 11:55pm Jul 4, 2018 11:55pm
nice spike up
just for a cup of coffee...
  • #461,750
  • Jul 5, 2018 12:18am Jul 5, 2018 12:18am
The 3273/3286 looks on the cards for today.

The average has already previously failed to break the 3286 so my guess is this is going to be a new attempt.

Made my profit in just 8 mins today...
Attached Image (click to enlarge)
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  • #461,751
  • Jul 5, 2018 12:28am Jul 5, 2018 12:28am
Quoting akim0895
nice spike up
still below 1.3255
everything can happens now
just for a cup of coffee...
  • #461,752
  • Jul 5, 2018 1:03am Jul 5, 2018 1:03am
Quoting Nala66
The 3273/3286 looks on the cards for today. The average has already previously failed to break the 3286 so my guess is this is going to be a new attempt. Made my profit in just 8 mins today... {image}

I have taken time to go through your posts and I must applaud you for a great system that you have. I believe it will be nice for you to open a thread titled "Bull-Bear Support Strategy."

The concept that you have developed will go a long way towards depopulating the 95% that forex is dealing with on a regular basis. Also other persons can adapt it to their own system.
  • #461,753
  • Jul 5, 2018 1:48am Jul 5, 2018 1:48am
Nala, are you watching? Don't you think PA is tilted toward 3139 than 3273. There is an engulfer on M30 and PA seems to be breaking away from M5 average. It's early morning yet though
  • #461,754
  • Jul 5, 2018 2:05am Jul 5, 2018 2:05am
Bullish engulfer on H4! So, the bulls are still kicking
  • #461,755
  • Jul 5, 2018 2:36am Jul 5, 2018 2:36am
Quoting Bydyke
Nala, are you watching? Don't you think PA is tilted toward 3139 than 3273. There is an engulfer on M30 and PA seems to be breaking away from M5 average. It's early morning yet though
I am working on the answer, have to draw up the charts for you.
  • #461,756
  • Jul 5, 2018 2:50am Jul 5, 2018 2:50am
OK here we go.

The one hour is pulling back to the EMA but we are above it so we ASSUME this is a retracement because we want to be long if above the EMA so we then look to the 5 min chart.

This shows a failure to break the Bull Support so the average cannot break the 3223 level.

Failure is what we look for
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  • #461,757
  • Jul 5, 2018 3:04am Jul 5, 2018 3:04am
There you are...

The 5 min has produced the impulse bar to in an attempt to drag the average above the 3239 and to find bullish support. Always close on the impulse bars or you may have to wait a considerable time to get back to the same height so the efficiency goes down due to time loss.
  • #461,758
  • Jul 5, 2018 3:16am Jul 5, 2018 3:16am
On the 5 min... So now the bulls have FOUND support if they can hang on to it the 1 hour target comes into view.
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  • #461,759
  • Jul 5, 2018 3:28am Jul 5, 2018 3:28am
Now of course the market could have gone the other way and broken below the average on the one hour.

However we would then have seen an entirely different setup on the 5 min because it would have broken the bull support and broken below the 3223 average and attacked the 3197.
  • #461,760
  • Jul 5, 2018 3:36am Jul 5, 2018 3:36am
There are other things to look for using the RSI which also tells the story very effectively if read properly.

The combination of the price chart and the RSI make trading simple but it is not exactly predictive. We have to stay alert to changes, so for me quick trades are the order of the day. Staying alert for long periods of time is very taxing on the head.
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