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Cable Update (GBPUSD)

  • #473,961
  • Jan 23, 2019 3:02pm Jan 23, 2019 3:02pm
Cable Daily.

I note some exuberance on the bullish side, good luck lads.

  1. -Price has traded above the 200 sma, for at least an ok bullish break.


Some caution to the upside

  1. Price appears to be trading in a descending channel
  2. Notable overhead resistance is on the oblique descending line
  3. Another similar speed bump would seem present 1.3266xx

In most general terms, I would be cautious neither bull nor bear. (I have no position on cable).

Good luck, trade safe.

~J

Attached Image
  • #473,962
  • Jan 23, 2019 3:08pm Jan 23, 2019 3:08pm
Quoting xandi
{quote} H&S target lower band of BB {image}
Wrong, all wrong!...kids, dont do this at home! And, even so, so simple is forex...trying to understand, i need a lot of practise, and im failing do it!
Back to analysis, it huge probability to stop and retrace here to 2850 or 2810...cheers traders, and kids(like me) hard trainning at home on strategy tester visual mode of MT4 before facing the high sea!
Attached Image (click to enlarge)
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  • #473,963
  • Jan 23, 2019 3:09pm Jan 23, 2019 3:09pm
Not sure if anyone has read into forex manipulation and bank trading methods but here’s what I have
mom fairly confident we could see a stop run of 1.31 and a complete reversal, had the weekly cycle complete and also intraday cycle today complete to complete the 3rd level weekly cycle
edit
just trying to upload chart
  • #473,964
  • Jan 23, 2019 3:15pm Jan 23, 2019 3:15pm
Here’s the chart
Attached Image (click to enlarge)
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  • #473,965
  • Jan 23, 2019 4:13pm Jan 23, 2019 4:13pm
Daily Bull candle however price touching the key res
1.32 on breakout
Attached Image (click to enlarge)
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  • #473,966
  • Jan 23, 2019 5:28pm Jan 23, 2019 5:28pm
Attached Image (click to enlarge)
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78% chance of coming down based on ML algos.
  • #473,967
  • Jan 23, 2019 5:58pm Jan 23, 2019 5:58pm
Quoting kazachokings
{quote} Funny how strong the pound is considering all the crap going on right now..
Pound is simply responding to price behaviour, which doesn't care about political noises. Expect drop to 1.29xx today or Friday.
Data + Stat + Risk/Emotions Management
  • #473,968
  • Jan 23, 2019 6:00pm Jan 23, 2019 6:00pm
Quoting TEntropy
{quote} Be careful. The probability of the next day being red or green is 50/50 regardless of past. Sure 4 days in a row doesn't happen that often, but the probability of the 4th day being green from the 3rd day is 50/50.
Bearish chance today is 80%.
Data + Stat + Risk/Emotions Management
  • #473,969
  • Jan 23, 2019 6:54pm Jan 23, 2019 6:54pm
Easy trade for today, stay bullish until 1.3130 and possibly 1.3165-70, good sell to see from there nice bearish candle ending the day.. On Downside watch 1.3050 then just above 1.3000
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #473,970
  • Jan 23, 2019 7:03pm Jan 23, 2019 7:03pm
Quoting ChiForex
Easy trade for today, stay bullish until 1.3130 and possibly 1.3165-70, good sell to see from there nice bearish candle ending the day.. On Downside watch 1.3050 then just above 1.3000
If it exceeds 1.31, then 1.32 is the next target
Don't Worry Be Happy
  • #473,971
  • Jan 23, 2019 7:03pm Jan 23, 2019 7:03pm
Quoting Georginson
{quote} Bearish chance today is 80%.
What is your analysis?
Don't Worry Be Happy
  • #473,972
  • Jan 23, 2019 7:29pm Jan 23, 2019 7:29pm
Set to 2700 ? $cable
not euphoria follower
  • #473,973
  • Jan 23, 2019 7:45pm Jan 23, 2019 7:45pm
For some who say that certain movements are market makers manipulation while others say it is pure technical, the news will only speed it up...etc

My opinion:

-Surely, there's market manipulation from market makers-in front are the central banks.

Why?

In cable case, the manipulated drop to 1.24 then spike until now is clearly handmade. Now cable is around 1.31, so don't you ask yourself why is that?!
Simply because the worst news possible will make it drop where?! 300-400pips, so what?!, we're still above 1.27

- Pure Technical?!: Well, real technical analysts well know that there is always 2 possibilities up as much as down specially at certain crucial levels.

At end, price action?! Well that is extremely important but how many times we see sudden reverse or spike in opposite direction for no real reason!!

Don't let anybody laugh at you. The big players always control the market.

You just have to limit your losses when such conditions appear, and let your profits run but also securing it when market is on your side.

Only experience will teach you how to FEEEEEEEEEEEL the market, thinking doesnt help much
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #473,974
  • Jan 23, 2019 10:26pm Jan 23, 2019 10:26pm
Looking at the weekly in particular, a retrace to 1.2962 area will find support IMO
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #473,975
  • Jan 23, 2019 11:16pm Jan 23, 2019 11:16pm
Quoting ChiForex
For some who say that certain movements are market makers manipulation while others say it is pure technical, the news will only speed it up...etc My opinion: -Surely, there's market manipulation from market makers-in front are the central banks. Why? In cable case, the manipulated drop to 1.24 then spike until now is clearly handmade. Now cable is around 1.31, so don't you ask yourself why is that?! Simply because the worst news possible will make it drop where?! 300-400pips, so what?!, we're still above 1.27 - Pure Technical?!: Well, real technical...
Bruce Lee called it 45 years ago.... don't think FEEEEEEEEEEEL

He's using the Kung Fu student for an example but was recognising the struggles retail FX traders were going to experience...amazing he could look so far into the future....LOL
"We Need Emotional Content"

Inserted Video
Don't Leave Money on the Table
  • #473,976
  • Jan 23, 2019 11:23pm Jan 23, 2019 11:23pm
S1 looks like a nice dip today (atleast i hope, too deep in this pair atm). Or then hit PP @3035 and rally up 32ish, i only got two chanses left to make it out green
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  • #473,977
  • Edited 11:40pm Jan 23, 2019 11:25pm | Edited 11:40pm
Quoting HaLBot
Looks like on the 4hr EUR/USD is finally going to drag itself of the floor, good for cable too.... {image}
Hail to the King Baby!!!!
Called it yesterday, an instrument can only bottom feed for so long B4 it picks itself up of the floor....I was just 4hrs early
A rise in US eqities means flight of money out of US dollars and into riskier instruments, means good for Euro and if news okay for Cable then into Cable. If news bad for Cable then money into Eur/Gbp
So if Euro continues to rise from here expect Cable to follow unless into Eur/Gbp until such time as Eur/Gbp hits an area of resistance slingshotting Cable forward...
I always have a live DXY chart running, really helps to see why Euro/Cable suddenly moving....
Attached Image (click to enlarge)
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Don't Leave Money on the Table
  • #473,978
  • Edited 12:41am Jan 24, 2019 12:28am | Edited 12:41am
The same , short test started yesterday , limits 1.3000 / 2974 to try further up if , have good sr overhead though .starts with bo 3065, signal 3040 , confirmation 3013 targets above 3000/2974 limits .
It may try further up like 3174 ok but once for all to die level 3471+ to 3700 may not reach so direct !! and if loss control 1.3000 handle then likely tank to bottom or more before back again!! the might weekly candle can retrace towards 2889!!below 2900 handle
Attached Image(s) (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #473,979
  • Jan 24, 2019 12:32am Jan 24, 2019 12:32am
I don't have order in hand sell here it safe or not
  • #473,980
  • Edited 1:15am Jan 24, 2019 1:03am | Edited 1:15am
DAX futures has opened......volatility assured lol

Lots of Euro data out in next hour, will set direction for the day I believe.....
Don't Leave Money on the Table
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