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Cable Update (GBPUSD)

  • #463,881
  • Aug 20, 2018 10:48am Aug 20, 2018 10:48am
Quoting MzansiObi
50 ema busy acting as resistance of 4hour chart, thinking of taking a short here
EMA 50/H4 is at 2781 but it seems 2771 is having none of it.
  • #463,882
  • Aug 20, 2018 10:55am Aug 20, 2018 10:55am
close bE
trump coming
just for a cup of coffee...
  • #463,883
  • Aug 20, 2018 11:10am Aug 20, 2018 11:10am
Quoting ballballball
Buy gu 1.2760 sl 1.2754
Thx Trump
  • #463,884
  • Aug 20, 2018 11:59am Aug 20, 2018 11:59am
out with 35 pips
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yes yes yes
  • #463,885
  • Aug 20, 2018 12:01pm Aug 20, 2018 12:01pm
Quoting elbert3
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...
4 pips away and looking like the plan worked out
  • #463,886
  • Aug 20, 2018 1:07pm Aug 20, 2018 1:07pm
Looking at the GBP/USD;

Market is sitting around yearly 0.618 (COB) Fibonacci expansion support levels at 1.2429 and 1.2457.

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We dont see a follow through on the macd quaterly trend change which shows very week dynamic pressure.

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On the monthly; Trend turned into sell and market is pushing through 0.618 (F5) Fibonacci support level at 1.2899. Beneath that 0.618 (COB) monthly expansion at 1.2502 will stand as the next support which the market will likely test it.

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Looking at our weekly; We see a down thrust (Min 8 bars below 3*3) and the market is testing cluster (0.618 COB + 1.618 XOP Fibonacci expansions) support zone at 1.2746 and 1.2677. Market may try to take the stop below 1.2588 level.

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Daily; We do have a nice down thrust as well. Daily trend change is approaching. We have strong confluence resistance around 1.2970 zone. So that might be a good spot to fade daily trend against the weekly and monthly down trends as per standart trade plan. We might be able to get Dinapoli s B&B sell setup before that as well.

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We drop lower timeframe to pinpoint our entry for possible B&B Sell Setup. We have nice agreement + confluence (1.00 OP expansion, 0.618 F5 and 0.382 F3 Fibonacci resistance levels) zone at 1.2804- 1.2815 zone and another confluence (F3+F5) zone higher up 1.2853-1.2857

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Please take note of that we are around yearly fibonacci support levels so need to cautious while shorting the market.
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  • #463,887
  • Aug 20, 2018 2:15pm Aug 20, 2018 2:15pm
Quoting elbert3
{quote} 4 pips away and looking like the plan worked out
2790 on the nose let's move the profit up to protect . .and I have to possibly look to short
  • #463,888
  • Aug 20, 2018 8:27pm Aug 20, 2018 8:27pm
Quoting Ksth
please buy more. i can add short =p
........... thank you i'm happy with your money
  • #463,889
  • Aug 20, 2018 8:48pm Aug 20, 2018 8:48pm
Looks like next zone to watch PA
Attached Image (click to enlarge)
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Come with me if you want to live....
  • #463,890
  • Aug 20, 2018 9:41pm Aug 20, 2018 9:41pm
Quoting Ill-b-back
Looks like next zone to watch PA {image}
I am not sure from here, it has hit my last target and the EMA has made the HH on the 1H
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  • #463,891
  • Aug 20, 2018 9:48pm Aug 20, 2018 9:48pm
It is troubling me a tad that I have a weekly chart target of 2587 but that could be weeks away.

If that fails then the weekly upside target becomes 4486???
  • #463,892
  • Aug 20, 2018 9:53pm Aug 20, 2018 9:53pm
Attached Image (click to enlarge)
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to err is human
  • #463,893
  • Aug 20, 2018 10:42pm Aug 20, 2018 10:42pm
Quoting Nala66
It is troubling me a tad that I have a weekly chart target of 2587 but that could be weeks away. If that fails then the weekly upside target becomes 4486???
I think 2587 is a logic spot.
Why is it troubling?
Come with me if you want to live....
  • #463,894
  • Aug 20, 2018 11:30pm Aug 20, 2018 11:30pm
maybe try some short later
wait london open️
just for a cup of coffee...
  • #463,895
  • Aug 20, 2018 11:55pm Aug 20, 2018 11:55pm
Quoting Ill-b-back
{quote} I think 2587 is a logic spot. Why is it troubling?
Because if price continues to climb for a week and then turns then I would be caught with a serious drawdown by being in the wrong direction.

That is why I stick to the short term trades then I cannot get caught on the wrong side because I would be stopped out early and have the opportunity to change direction.

I know everyone has differing views on trade duration but quick in and outs suits me fine.
  • #463,896
  • Aug 21, 2018 12:32am Aug 21, 2018 12:32am
Quoting Nala66
It is troubling me a tad that I have a weekly chart target of 2587 but that could be weeks away. If that fails then the weekly upside target becomes 4486???
Morning Nala

yes 4486 is totally possible in my opinion....this week and this month are key to decide if this down move we have been in since April is only a correction (in which case we can tag 1.50 once done) or a total "cycle" reversal in which case we will see parity and such.

As far as more immediate levels...I have your 5min chart from last week with the following levels 2831 and 2892 left. (we hit on the nose the previous ones ie 2771 and 2792)

The retracement we are in right now is well underway (slightly more than halfway in)...we might have another 100 pips or so to the upside.
  • #463,897
  • Aug 21, 2018 12:41am Aug 21, 2018 12:41am
Quoting kayikayi
{quote} Morning Nala yes 4486 is totally possible in my opinion....this week and this month are key to decide if this down move we have been in since April is only a correction (in which case we can tag 1.50 once done) or a total "cycle" reversal in which case we will see parity and such. As far as more immediate levels...I have your 5min chart from last week with the following levels 2831 and 2892 left. (we hit on the nose the previous ones ie 2771 and 2792) The retracement we are in right now is well underway (slightly more than halfway in)...we...
That's correct and as long as we stay above the 5M ema I would be looking to that 2892 next.

On the 1H it is close to that with a 2886.

So as far as I am trading I buy the dips and close at the tops.
  • #463,898
  • Aug 21, 2018 12:44am Aug 21, 2018 12:44am
Something of interest here in that the 1h chart has produced 12 bull bars in a row...is that some kind of record?
  • #463,899
  • Aug 21, 2018 12:45am Aug 21, 2018 12:45am
great!! question: any reason why you don't use 4h levels? are they less accurate or something the higher in time frames we go?
thx!
  • #463,900
  • Aug 21, 2018 12:52am Aug 21, 2018 12:52am
Quoting Nala66
Something of interest here in that the 1h chart has produced 12 bull bars in a row...is that some kind of record?
this tells me they are rushing to hit some levels up in order to slam it down later during FOMC....total speculation on my part i don't pretend to even guess timing of price action...anything is possible in my book
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