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Cable Update (GBPUSD)

  • #482,121
  • Jun 23, 2019 12:13pm Jun 23, 2019 12:13pm
Divergence
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  • #482,122
  • Jun 23, 2019 3:42pm Jun 23, 2019 3:42pm
Here's a top-down technical perspective on cable.

The daily time frame shows that bulls are taking price action northwards. We may see them target the 1.28180/1.28840 zone before any southward turnaround.

On the H4 time frame, price action is respecting a rising trendline (magenta) but nearing the 1.28180 horizontal resistance. The 1.28180 horizontal resistance is likely to be tested by price action before any pullback towards, perhaps, the rising trendline. A breakdown of the rising trendline may see bears attempt a bearish move towards the 1.25810 horizontal support zone.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #482,123
  • Jun 23, 2019 4:04pm Jun 23, 2019 4:04pm
11 pips gap down.
  • #482,124
  • Jun 23, 2019 5:59pm Jun 23, 2019 5:59pm
Ok friends, I've gone short TP:1.2575, let's see what happens.

Guz
Charts don't drive price, market conditions drive price...
  • #482,125
  • Jun 23, 2019 6:31pm Jun 23, 2019 6:31pm
Quoting Guztro
Ok friends, I've gone short TP:1.2575, let's see what happens. Guz
Hi Guz,
I wait for Tokyo to open if I miss the beginning of the move, I will try to get on the ret. in BC leg...Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: EU06.23.2H.scenario1.bPNG.PNG Size: 85 KB
Always trade your own plan...I don't provide trading signals.
  • #482,126
  • Jun 23, 2019 6:42pm Jun 23, 2019 6:42pm
Hi doubt of that
Quoting Coreg2004
{quote} Hi Guz, I wait for Tokyo to open if I miss the beginning of the move, I will try to get on the ret. in BC leg...Good luck. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #482,127
  • Jun 23, 2019 6:46pm Jun 23, 2019 6:46pm
Quoting Coreg2004
{quote} Hi Guz, I wait for Tokyo to open if I miss the beginning of the move, I will try to get on the ret. in BC leg...Good luck. {image}
Thanks, Coreg2004, GU certainly pushing last week's high, but seem to have hit a roadblock at 1.2756. My analysis looks exactly the same by the way.

Green pips to you.

Guz
Charts don't drive price, market conditions drive price...
  • #482,128
  • Jun 23, 2019 6:47pm Jun 23, 2019 6:47pm
Quoting Bones
Hi doubt of that {quote}
I feel it will go up without correction.
  • #482,129
  • Jun 23, 2019 6:55pm Jun 23, 2019 6:55pm
Quoting Bones
Hi doubt of that {quote}
Hi Bones, I am slow don't get it. Do you think the market won't retrace?
Always trade your own plan...I don't provide trading signals.
  • #482,130
  • Jun 23, 2019 7:02pm Jun 23, 2019 7:02pm
Quoting Guztro
{quote} Thanks, Coreg2004, GU certainly pushing last week's high, but seem to have hit a roadblock at 1.2756. My analysis looks exactly the same by the way. Green pips to you. Guz
Last week expanded flat correction (abc in circles) worked perfectly on EU...of course it means nothing for GU today...LOL...https://www.forexfactory.com/showthr...1#post12345831
Always trade your own plan...I don't provide trading signals.
  • #482,131
  • Edited 7:18pm Jun 23, 2019 7:07pm | Edited 7:18pm
Looks like USD devaluation will push more uptrend... but I think price will test 1.2700 and then it will continue to 1.2820 or 1.2880...
That line must be broken to go downtrend... so enter now is risky... I prefer wait european session...
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  • #482,132
  • Jun 23, 2019 7:12pm Jun 23, 2019 7:12pm
Quoting catuman37350
Looks like USD devaluation will push more uptrend... but I think price will test 1.2700 and then it will continue to 1.2820 or 1.2860... That line must be broken to go downtrend... so enter now is risky... I prefer wait european session... {image}
I hope any correction. If not, just let it go.
  • #482,133
  • Jun 23, 2019 8:11pm Jun 23, 2019 8:11pm
GBPUSD : Recommendation

Sell at current price 1.2748

Target 1.2700

Stop loss : 35 pips
  • #482,134
  • Jun 23, 2019 8:16pm Jun 23, 2019 8:16pm
Quoting Moty
Bull trap in the making Last time it's also a bulilish ingulfing candle , and you can ahat happend {image}
It's not a bull trap bro.

Price will sell until 1.2696 - 1.2666 region form there, I expect relentless buying until 1.3001
  • #482,135
  • Jun 23, 2019 8:36pm Jun 23, 2019 8:36pm
On H1 i see bear divergence. I hope any correction.
  • #482,136
  • Jun 23, 2019 9:34pm Jun 23, 2019 9:34pm
Hi Coreg , yea
but I'd see the open, I'm looking and that takes the tl and last day
despite being the range I think it's in a trend now
I'm looking at the early open when I post and it looks bullish but it's early, let's see the open hours

Quoting Coreg2004
{quote} Hi Bones, I am slow don't get it. Do you think the market won't retrace?
Attached Image (click to enlarge)
Click to Enlarge Name: EU06.23.2H.scenario1.bPNG.png Size: 165 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #482,137
  • Jun 23, 2019 9:39pm Jun 23, 2019 9:39pm
I don't know waves at all can that one not be longer?

Quoting Coreg2004
{quote} Hi Guz, I wait for Tokyo to open if I miss the beginning of the move, I will try to get on the ret. in BC leg...Good luck. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #482,138
  • Jun 23, 2019 9:45pm Jun 23, 2019 9:45pm
I'm also looking at this wick and I think it's bullish,
also posted lots of reasons over the weekend
Really I doubt it can go into the wick,
but that's a bit of a guess
I see the level we are at maybe I'm wrong
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #482,139
  • Jun 23, 2019 9:49pm Jun 23, 2019 9:49pm
I think you're a really good poster, don't get me wrong speaking my mind

Quoting Coreg2004
{quote} Hi Guz, I wait for Tokyo to open if I miss the beginning of the move, I will try to get on the ret. in BC leg...Good luck. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #482,140
  • Jun 23, 2019 10:26pm Jun 23, 2019 10:26pm
Quoting Bones
I'm also looking at this wick and I think it's bullish, also posted lots of reasons over the weekend Really I doubt it can go into the wick, but that's a bit of a guess I see the level we are at maybe I'm wrong {image}
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