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Cable Update (GBPUSD)

  • #463,981
  • Aug 23, 2018 3:29pm Aug 23, 2018 3:29pm
Fib 50 and Fib 38 of the latest GU swing are on 2798 and 2766 respectively. The descending TL is at 2772. Further down at 2747 is Davit's pivot or the WP. All things being equal, these are possible retracement points on GU at the moment
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  • #463,982
  • Aug 23, 2018 3:44pm Aug 23, 2018 3:44pm
And so, the bears have taken over! Any major move upwards now shall be the last most likely, before the plunge
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  • #463,983
  • Aug 23, 2018 6:20pm Aug 23, 2018 6:20pm
Quoting Moty
I am short on the eu {image}
Very well done, you picked the pattern nicely...But I put it on the GU

I drew your pattern roughly on the 5M chart looking at the various average swings in those locations and things turned out nicely.
  • #463,984
  • Aug 23, 2018 6:45pm Aug 23, 2018 6:45pm
Quoting Ill-b-back
Looks like next zone to watch PA {image}
Didn't reach my higher 3027 sell zone (well not yet anyway - and not sure it will).

This posted zone looks relevant though.

Some immediate fib levels seems relevant, with a break today below lowest fib support.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSDDaily.png Size: 28 KB
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Click to Enlarge Name: GBPUSDH4.png Size: 23 KB
Come with me if you want to live....
  • #463,985
  • Aug 23, 2018 8:02pm Aug 23, 2018 8:02pm
Quoting Ill-b-back
{quote} Didn't reach my higher 3027 sell zone (well not yet anyway - and not sure it will). This posted zone looks relevant though. Some immediate fib levels seems relevant, with a break today below lowest fib support. {image} {image} {image} {image}
Is it GBPUSD will continue down trend or might take a bullish move?
  • #463,986
  • Aug 23, 2018 8:27pm Aug 23, 2018 8:27pm
Quoting Ill-b-back
{quote} Didn't reach my higher 3027 sell zone (well not yet anyway - and not sure it will). This posted zone looks relevant though. Some immediate fib levels seems relevant, with a break today below lowest fib support. {image} {image} {image} {image}
please don’t go that zone
just for a cup of coffee...
  • #463,987
  • Edited 10:29pm Aug 23, 2018 10:13pm | Edited 10:29pm
Quoting yuvi94
{quote} Is it GBPUSD will continue down trend or might take a bullish move?
That's the million $ question isn't it.
We are coming back down from some stiff historical weekly resistance highlighted on the far left on first chart.
I over leveraged short from 2745 area, panicked and progressively cut my losses which really sucks. Completely my fault for being greedy (trying to get this out of my game). Trading higher TF's for means means patience and conservation to build equity over time (need to put sticky note on my computer or something)

2772 seems important for hints at direction for next week though.
Not sure if I will re-enter after loss taken.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 27 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 31 KB
Click to Enlarge Name: GBPUSDH4.png Size: 27 KB
Come with me if you want to live....
  • #463,988
  • Aug 23, 2018 10:45pm Aug 23, 2018 10:45pm
yes mate
i also mistake take early short at 2840
lucky cabel start dropping yesterday n can close with some profit
and still hold one more short from 2920..
however cabel can be bullish again with ‘trump’ want cheap dollar..
its friday..keep what you gets
just for a cup of coffee...
  • #463,989
  • Aug 23, 2018 11:54pm Aug 23, 2018 11:54pm
Mad as a cut snake...
  • #463,990
  • Aug 24, 2018 12:04am Aug 24, 2018 12:04am
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Morning looks like 2800 is holding for now a run up to 2855 could be possible and around this time which is 6 o'clock rice seems to move a bit so let's see .. play what we see
  • #463,991
  • Aug 24, 2018 12:07am Aug 24, 2018 12:07am
Quoting elbert3
{image}{image}Morning looks like 2800 is holding for now a run up to 2855 could be possible and around this time which is 6 o'clock rice seems to move a bit so let's see .. play what we see
As above possible trading area on 4 hour
  • #463,992
  • Aug 24, 2018 2:04am Aug 24, 2018 2:04am
Currently bearish outlook. This week's high found resistance at 50% fibo of 26/07/2018 High of 1.32124 and 15/08/2018 Low of 1.26608. Targeting 1.27429.
Attached Image (click to enlarge)
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  • #463,993
  • Aug 24, 2018 2:21am Aug 24, 2018 2:21am
Just a maybe???
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  • #463,994
  • Aug 24, 2018 4:22am Aug 24, 2018 4:22am
short 21
trading is simple but is simple is not easy.
  • #463,995
  • Aug 24, 2018 5:18am Aug 24, 2018 5:18am
Quoting ZenNy
short 21
stopped
trading is simple but is simple is not easy.
  • #463,996
  • Aug 24, 2018 5:24am Aug 24, 2018 5:24am
Quoting Nala66
Just a maybe??? {image}
Oh dear me correct again...
  • #463,997
  • Aug 24, 2018 5:31am Aug 24, 2018 5:31am
I appreciate your candor mate.

Trade safe.

KP


Quoting Ill-b-back
{quote} That's the million $ question isn't it. We are coming back down from some stiff historical weekly resistance highlighted on the far left on first chart. I over leveraged short from 2745 area, panicked and progressively cut my losses which really sucks. Completely my fault for being greedy (trying to get this out of my game). Trading higher TF's for means means patience and conservation to build equity over time (need to put sticky note on my computer or something) 2772 seems important for hints at direction for next week though. Not sure...
Do your homework, follow the footprints of smart money
  • #463,998
  • Aug 24, 2018 5:31am Aug 24, 2018 5:31am
I have no idea what that pull back was all about other than to put in an average swing low to fall back on later
Attached Image (click to enlarge)
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  • #463,999
  • Aug 24, 2018 5:40am Aug 24, 2018 5:40am
Quoting KeenPips
I appreciate your candor mate. Trade safe. KP {quote}
Cheers KP, I thoroughly enjoy reading your weekly analysis, it's always good food for thought presented humbly and professionally
Come with me if you want to live....
  • #464,000
  • Aug 24, 2018 5:50am Aug 24, 2018 5:50am
Quoting Nala66
{quote} Oh dear me correct again...
Yes, bull's eye. But are we sure the bulls have not had their fill for the day? Anyway, this is cable. This is the time for the eagle's eye with no loss of concentration.
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