Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#463,841
Aug 17, 2018 8:55pm Aug 17, 2018 8:55pm

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Quoting Ill-b-back

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{quote} That looks like the area for next week

Ignored

Based upon another measuring method I have a target of 2768 so it looks very much like the zone of 2768/2773, it may even gap that distance over the weekend.

The Bulls have started a run up over the past three days but with lots of struggle, I suspect this has something to do with profit taking from the huge run down which still may not be over since on the hour the average has not yet made a HH.

Choppy markets like this are difficult to profit from on the higher time frames, little gains can be lost on the roller coaster.

Looking at my 5 min average chart we can clearly see how choppy it is as the bulls make slight gains over the bears.

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#463,842
Aug 17, 2018 9:27pm Aug 17, 2018 9:27pm

Pipmasterfx
| Joined May 2018 | Status: Trader | 289 Posts

Quoting zefani

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I guess GBPJPY is a better option, USDJPY looks bearish hence strengthening the yen

Ignored

Usually the gbpjpy will follow the gbpusd movement mate

#463,843
Aug 17, 2018 9:30pm Aug 17, 2018 9:30pm

Pipmasterfx
| Joined May 2018 | Status: Trader | 289 Posts

No matter what happen i'll wait this pair to surge higher until 1.30xx area as the current level act as a support. While waiting, lets short the pound cross (gbpaud, gbpnzd etc). Happy weekend everybody!

#463,844
Aug 18, 2018 4:39am Aug 18, 2018 4:39am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting Nala66

Disliked

{quote} Based upon another measuring method I have a target of 2768 so it looks very much like the zone of 2768/2773, it may even gap that distance over the weekend. The Bulls have started a run up over the past three days but with lots of struggle, I suspect this has something to do with profit taking from the huge run down which still may not be over since on the hour the average has not yet made a HH. Choppy markets like this are difficult to profit from on the higher time frames, little gains can be lost on the roller coaster. Looking at my...

Ignored

For me, higher TFs are all about patience and trusting your analysis.
I took some profits earlier in the week.
Waiting what this next week brings.

Come with me if you want to live....

#463,845
Aug 18, 2018 5:11am Aug 18, 2018 5:11am

Mr.N
| Commercial User | Joined Mar 2018 | 224 Posts

Quoting Mr.N

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GBPAUD very good buy in my opintion COLORS + SMA300 + ARROW that show Previous traders buy positions by equal distances from the Colors pattern. GL HF {image}

Ignored

Told you

#463,846
Aug 18, 2018 5:14am Aug 18, 2018 5:14am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

It looks to me now on the day chart price cleared my emas and is heading back to meet 10 ema at about 2790 area a possible break of that could lead to 2880 then 2950 . On the 1 hour we have a crossover . 10.20 and 50 ema also cleared 100 ema which again could see the 200 ema as a possible target at 2790 area . So we have a possible day and 1 hour chart showing possible ema targets .4 hour again sees 50 ema at 2790 area with a small trend showing a up movement at this time . Any fail at 2790 rejection could .. could see a move down and if so watch 2715 as it looks to be a break of the now new tl for now . The 4 hour at this one is showing a strong bottom . 2685 and 2665 supports and then failing we should see 2600 and 2550 . Fail then 2300 area could be possible ... so there is my planned thoughts for the Ned and the beginning of next week .. I hope it all make sense.. good luck all regards E

#463,847
Aug 18, 2018 5:18am Aug 18, 2018 5:18am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

Quoting elbert3

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It looks to me now on the day chart price cleared my emas and is heading back to meet 10 ema at about 2790 area a possible break of that could lead to 2880 then 2950 . On the 1 hour we have a crossover . 10.20 and 50 ema also cleared 100 ema which again could see the 200 ema as a possible target at 2790 area . So we have a possible day and 1 hour chart showing possible ema targets .4 hour again sees 50 ema at 2790 area with a small trend showing a up movement at this time . Any fail at 2790 rejection could .. could see a move down and if so watch...

Ignored

Take a look st the weekly chart also can somebody give me their opinions on that one .. looks interesting at this time

#463,848
Aug 18, 2018 6:47am Aug 18, 2018 6:47am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting elbert3

Disliked

{quote} Take a look st the weekly chart also can somebody give me their opinions on that one .. looks interesting at this time

Ignored

It's stalled and bounced off the 123.6 fib.
Need a weekly close above 2773 this coming week before 1.30 can be targeted.

But not likely to happen in my view.

Come with me if you want to live....

#463,849
Aug 18, 2018 6:53am Aug 18, 2018 6:53am

Don96
Joined Dec 2015 | Status: Trader | 7,803 Posts

Quoting elbert3

Disliked

{quote} Take a look st the weekly chart also can somebody give me their opinions on that one .. looks interesting at this time

Ignored

I don't think a bounce of 80 pips is enough in 2 days, I think it's being pulled by eu little bounce and au on Friday evening / usd China nonsense.

I suppose as long a's 94 is closed above then it's not bearish

#463,850
Aug 18, 2018 7:03am Aug 18, 2018 7:03am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

gu daily

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yes yes yes

#463,851
Aug 18, 2018 4:11pm Aug 18, 2018 4:11pm

csc2009
| Joined Apr 2014 | Status: Trader | 1,049 Posts

Brexit uncertainty weighs in, GBP/Usd upside is limited. Consolidation continues to just above 1.2700 level, resistance can be found around 1.2750/55.

#463,852
Aug 18, 2018 6:31pm Aug 18, 2018 6:31pm

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

Quoting Ill-b-back

Disliked

{quote} It's stalled and bounced off the 123.6 fib. Need a weekly close above 2773 this coming week before 1.30 can be targeted. But not likely to happen in my view.

Ignored

we can only wait . Regards E

#463,853
Aug 18, 2018 6:33pm Aug 18, 2018 6:33pm

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

Quoting Don96

Disliked

{quote} I don't think a bounce of 80 pips is enough in 2 days, I think it's being pulled by eu little bounce and au on Friday evening / usd China nonsense. I suppose as long a's 94 is closed above then it's not bearish

Ignored

Yes don . We will try to plan it out . There should be no guess work for traders that dive in long or short ! Every trader should have a plan be it a good one or bad .. good you win ... bad you learn . Regards E

#463,854
Aug 19, 2018 12:11am Aug 19, 2018 12:11am

digger1
Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,055 Posts

Quoting elbert3

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{quote} Yes don . We will try to plan it out . There should be no guess work for traders that dive in long or short ! Every trader should have a plan be it a good one or bad .. good you win ... bad you learn . Regards E

Ignored

Good to see your voice ole friend ,hope all is well with you ,,cheers man. .

#463,855
Aug 19, 2018 3:12am Aug 19, 2018 3:12am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

Quoting digger1

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{quote} Good to see your voice ole friend ,hope all is well with you ,,cheers man. .

Ignored

All good Dig how are you mate , been looking at the posts most days . But been on holidays most of this year . Regards B

#463,856
Aug 19, 2018 3:27pm Aug 19, 2018 3:27pm

KeenPips
Joined Dec 2015 | Status: Trader | 8,759 Posts

Are you tracking the GBPUSD this week? Consider this technical perspective.

On the daily time frame, the order flow context favors bears and a resistance trendline (navy) is in play. Thus, although bulls are taking the market on a northward retracement, we may expect them to meet some barriers in the shape of the resistance trendline (navy) or the horizontal resistance around the 1.29580 area. Besides, a minor horizontal resistance is around the 1.28340 area. Technically, those areas are potential southward turnaround areas.

I may be wrong. Trade safe and prosper.

KP

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