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Cable Update (GBPUSD)

  • #511,301
  • Feb 9, 2020 3:17pm Feb 9, 2020 3:17pm
Quoting akim0895
{quote} as i told before.. i’m the less experience around yes you got the point that charts not drive the price market does move its.. but need to remember..charts give a clue,signal,pattern or anything they call..where market want to drive to.. going a trip to london,NY,brasil or any part of the world.. all from clue,signal,pattern that come from charts.. so all is connecting each others.. fundametals or others.. will do their part to move the price too.. so before next month we just follow where the market/price want to go.. nice weekend from...

Agree 100%. Humans, by nature are creatures of habit, price can show certain patterns/clues because it's a representation of human behavior. News gives a general direction of where price may go in the long run.. but never a direct path...and learning to navigate the path is where technical analysis come into play.
  • #511,302
  • Feb 9, 2020 3:33pm Feb 9, 2020 3:33pm
gut feeling is it will go side or drift down ,as its oversold
Ideally it cannot pass that support box discussed last week.I think could be significant it took it Friday.
which can give a nice one direction weekly next.
side under that level or down but early days
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #511,303
  • Feb 9, 2020 3:34pm Feb 9, 2020 3:34pm
Quoting Georginson
{quote} 1.2770 is not ruled out mate. There was a gap there in November and there is a big chance it will get filled.
how about 1 2500 for a target?? possible inverted rh shoulder inverted H&S weekly after powerful down trend since 2006 and again 2014
If you are new to Forex? Say Goodbye to your account!!
  • #511,304
  • Feb 9, 2020 3:44pm Feb 9, 2020 3:44pm
Quoting KiwiTrada
{quote} how about 1 2500 for a target?? possible inverted rh shoulder inverted H&S weekly after powerful down trend since 2006 and again 2014
1.2775 is a more attainable target than 1.2500 this February, as 1.2750 has a major support a bounce is extremely likely from there. Then check DXY which has been soaring since the year began, a fall in the index is very much around the corner.
Data + Stat + Risk/Emotions Management
  • #511,305
  • Feb 9, 2020 3:52pm Feb 9, 2020 3:52pm
If you are tracking the GBPUSD this week, consider this technical perspective.

On the weekly time frame, the 1.32570 area (magenta) marks the 61.8 Fib retracement of the bearish drop from the 1.34840 horizontal resistance area (red) to the 1.28810 horizontal support. Last week, market operation printed a bearish break-down candlestick of the 61.8 Fib zone. The candlestick was relatively big but it failed to break down the 1.28810 horizontal support; we may see some sideways or a brief pullback of price action before another bearish drive.

On the H4 time frame, technicals are in support of bears. But we may see a pullback of price action first, perhaps to the 1.29590 area (black). I am bearish GBPUSD.


I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #511,306
  • Feb 9, 2020 3:52pm Feb 9, 2020 3:52pm
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #511,307
  • Feb 9, 2020 4:01pm Feb 9, 2020 4:01pm
Quoting Georginson
{quote} What is your view on the next direction of this pair (GBPUSD)?
let say 2605..
but 2770 also enough for me to close all my shorts..
depend how price action play..
just for a cup of coffee...
  • #511,308
  • Edited 4:24pm Feb 9, 2020 4:13pm | Edited 4:24pm
if it goes to straight to 12775 this week it won't hold ,far too much momentum ,before it was small dropping to it with momentum up -it is a major major level worth noting
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #511,309
  • Feb 9, 2020 5:25pm Feb 9, 2020 5:25pm
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yes yes yes
  • #511,310
  • Feb 9, 2020 6:22pm Feb 9, 2020 6:22pm
Should sail through the 2755 minor support as we are now in a daily intermediate corrective wave with minor trend , probably a retest of 2755 once broken and then straight down to the 2585 intermediate support which will be the first real test for the bears.

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Follow The Markets Structure - Patience and Discipline
  • #511,311
  • Feb 9, 2020 6:56pm Feb 9, 2020 6:56pm
#GBPUSD / H4
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  • #511,312
  • Feb 9, 2020 7:01pm Feb 9, 2020 7:01pm
My plan for gu, is retracement upside around 20-30pips before continuing fall
  • #511,313
  • Feb 9, 2020 8:46pm Feb 9, 2020 8:46pm
Quoting krst8
{quote} there are offcourse very good fib traders here, check out vikinsa here and at tradingview as example, but i use ichimoku cloud on multi timeframe and also several timeframe overlay in single timeframes that i made an tradingview indicator for. Anyhow, one reason for using ichimoku is that it actually contains some of the fib levels. Basically it contains at each time frame the 50% retract point, this is the Kijun line that is the 52period average. While this is not magic i dont think many traders are aware of this! as example her on my weekly...
Hi krst8,
Many thanks for taking time to answer back. I really appreciate that.
Ichimoku is definitely really good.
I normally use sma 50 and 200, stochastic and fib levels in all relevant timeframes. Of course, eyes opened to fundamentals and news that could affect the pair I'm trading.
Thanks again.
Cheers.
Hey buddy, let's grab some Pips!
  • #511,314
  • Feb 9, 2020 9:31pm Feb 9, 2020 9:31pm
we might see correction to the USD this week making euro go up 90 to 130 pips up not sure the effect on GU also but I would say if GU goes back to 1.3000 or 1.3100 area it would be perfect chance to go short
  • #511,315
  • Feb 9, 2020 9:40pm Feb 9, 2020 9:40pm
Another new trading week for Cable...

Last week, cable rapidly dropped 300 pips (kudos for those that caught the fall)

For this week, will it retest 1.3 again, or it's going to retest 1.2775 or even 1.2750?

Let's wait and see, good luck folks~
  • #511,316
  • Feb 9, 2020 10:47pm Feb 9, 2020 10:47pm
gj hase not broke it's support
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yes yes yes
  • #511,317
  • Feb 9, 2020 10:55pm Feb 9, 2020 10:55pm
Looks like GBPUSD is due to experience some downside to around 1.27 (quote 1.29) based on buy-signs coming from EURGBP and sell-signs coming from GBPCHF.

GBPUSD I think 1.32 is a weak-sell while 1.25 is a strong-buy.
Count Of Antwerp
  • #511,318
  • Feb 9, 2020 11:57pm Feb 9, 2020 11:57pm
Abc correction in the making
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Opp's i crooked you again
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yes yes yes
  • #511,319
  • Edited 3:13am Feb 10, 2020 12:45am | Edited 3:13am
Sell Stop 1.28870
Sl 1.29213
TP 1.28446
its correction

our calculation, its not 100% true
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  • #511,320
  • Feb 10, 2020 1:00am Feb 10, 2020 1:00am
Quoting corongumet
Sell Stop 1.28870 Sl 1.29213 TP 1.28049
im joining

SELL 2903
in wondering about yourself, you forgot what you came here to be part of
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