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Cable Update (GBPUSD)

  • #472,781
  • Dec 16, 2018 3:42pm Dec 16, 2018 3:42pm
Here's my take on the GBPUSD, from a technical perspective.

On the daily time frame, price action is operating around the support of a descending channel (black) but with a slight northward disposition. Based on recent candlestick patterns on the daily time frame, we will likely see a brief northward move before a southward turnaround. The congestion area around 1.27290/1.28700 (bound by magenta horizontal lines) is likely to see a southward turnaround of price action.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #472,782
  • Dec 16, 2018 5:12pm Dec 16, 2018 5:12pm
Quoting OAPDave
If you do not have any belief in Round numbers may be just tweak the grid ? This chart is set off Murrey Maths, but I am not prepared to hold any conversations of the merits or non merits of Murrey Maths {image}
Hi to the novice and to me I have explored a lot of things but forgive me for saying ... that's complicated. Regards E
  • #472,783
  • Dec 16, 2018 5:23pm Dec 16, 2018 5:23pm
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One could just flip a coin at this time but let's see if the calculated trade is on thease lines in green
  • #472,784
  • Dec 16, 2018 6:58pm Dec 16, 2018 6:58pm
Quoting Ill-b-back
{quote} I am looking at this also. Closed all shorts except one.
Hmmm, this is ugly trading times, but looks to me like fresh lows this week
Come with me if you want to live....
  • #472,785
  • Dec 16, 2018 10:06pm Dec 16, 2018 10:06pm
Quoting WallStBeggar
{quote} Tough life...still survive bro


Come with me if you want to live....
  • #472,786
  • Dec 17, 2018 12:16am Dec 17, 2018 12:16am
Inserted Video
  • #472,787
  • Edited 12:43am Dec 17, 2018 12:33am | Edited 12:43am
Quoting elbert3
{image}{image}One could just flip a coin at this time but let's see if the calculated trade is on thease lines in green
Not bad for 1.2561/ 28 are sure break levels perhaps having 2599 limit up for down but pending long set last week around to wait only vacation time to get 2709 breaks next time to see. Take care.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #472,788
  • Dec 17, 2018 2:31am Dec 17, 2018 2:31am
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Quoting fontu
{quote} Not bad for 1.2561/ 28 are sure break levels perhaps having 2599 limit up for down but pending long set last week around to wait only vacation time to get 2709 breaks next time to see. Take care.
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will it go over
  • #472,789
  • Dec 17, 2018 2:42am Dec 17, 2018 2:42am
Quoting elbert3
{image}{quote} {image} will it go over
May go over 1.2600 for limit 1.2612 but unlikely, anyway play lows to ready for good bull if not more complicate, that ranges medium big down inclination still.then will remove my pending at 1.2561, keeping only 2540 and low ones.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #472,790
  • Dec 17, 2018 2:59am Dec 17, 2018 2:59am
New weekly, Round number 60 min grid set now, lets see if there are any trend trades worth taking with a 25 pip stop ?
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  • #472,791
  • Dec 17, 2018 4:23am Dec 17, 2018 4:23am
1.27xx area looks like a wicked place to me to look for sells

Loooots of pips

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Come with me if you want to live....
  • #472,792
  • Edited 6:30am Dec 17, 2018 5:31am | Edited 6:30am
1.2600/12 broken, so one sense no limit up for down, but rough midium range possible as just paying both up down levels like 1.2645 to 1.2553/28. I am actually only long if any trade start for next level down for 2860.now waiting another tanking if activate my pending. Good to scalp short though perhaps.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #472,793
  • Dec 17, 2018 5:56am Dec 17, 2018 5:56am
weekly S gonna turn to R, perhaps....I'll keep an eye on it this week....
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Look Sharp/Trade Tight
  • #472,794
  • Dec 17, 2018 7:16am Dec 17, 2018 7:16am
stops at 2719 waiting on 2100 lv fingers crossed
  • #472,795
  • Edited 11:01am Dec 17, 2018 9:34am | Edited 11:01am
1.2636-1.2591 range play before decision for further ranges down 2591 /81 to bottom again or breaks 2639/ breakout to start real bull action. Anyway waiting near bottom, at and below 2551 to join the bull if get chance . Take care.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #472,796
  • Edited 11:04am Dec 17, 2018 10:42am | Edited 11:04am
Some words about Brexit. I can't believe that the parlament will vote by No, They thus support random exit or economic ruin. I see that they are all the prime minister and the parliament are doing those procrastination to get the best conditions from the EU. The English are very good at negotiating. Whose with me in this view?
good luck
  • #472,797
  • Edited 9:42pm Dec 17, 2018 11:12am | Edited 9:42pm
Quoting tito5615104
Some words about Brexit. I can't believe that the parlament will vote by No, They thus support random exit or economic ruin. I see that they are all the prime minister and the parliament are doing those procrastination to get the best conditions from the EU. The English are very good at negotiating. Whose with me in this view?
Not know actually anything real other than chart of the currency. Anyway if ruined economy already done long back, now if vote in favor May's way just may afloat little longer only to me. Again currency exchange rates may not reflect real vast economy perfectly!!
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #472,798
  • Dec 17, 2018 2:39pm Dec 17, 2018 2:39pm
Quoting PayTheLimit
weekly S gonna turn to R, perhaps....I'll keep an eye on it this week.... {image}
Not sure if it will be reached, but I have marked that 1.2720 ish for sure ... Yen strength across the board today, looks like everyone wants to play it safe before the FED, so maybe GJ is a play worth looking for 140.50. I have already offered some at 143, let's see if lucky, but the RR is decent for me.
Fix up, trade sharp ...
  • #472,799
  • Dec 17, 2018 7:52pm Dec 17, 2018 7:52pm
Quoting PayTheLimit
weekly S gonna turn to R, perhaps....I'll keep an eye on it this week.... {image}
It's the area to watch for sure
Come with me if you want to live....
  • #472,800
  • Edited 8:29pm Dec 17, 2018 7:56pm | Edited 8:29pm
I'll be very interested to see what happens to the FF retail long/short ratio if and when we start coming back down from this 1.27xx area above.

Current ratio is 50/50

My money is on "Longs" increasing their positions.
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Come with me if you want to live....
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