Cable Update (GBPUSD)

The pound dollar is around 20 pips below the daily pivot point and 10 to 11 pips below its opening price and the 38.2 daily fib

I have closed out of all my positions with the exception I am still long on the gbp/chf. Anybody have any entry strategies for the pound dollar?

Right now I am waiting until around 3am 3:15 am for a break out

watch the pivot points
.9667
.9637

With my calculations S1 is .9666 and MS2(midway between S1 & S2) is .9635. Points close to what you are saying so what significants are you putting on them

cable start falling down slowly...

some EW and vagas are suggesting its not finnished retracing yet before we see the 2$ mark

Another thing I am looking at is a daily trend developing from .9717 which is where it opened the European session at.

oww that spike looked like a bounce of that 62 fib, i closed with a 18 pip profit ill go short again when it retraces from the big move down

the spike also lined up the 162% fib

pound must drop first to .9577 THEN you can see $2.00

Down you say If thats the case the high of the day has .9738 its average day range is 134 pips from the high of the day and low. With that being said we are looking at .9604. Its at .9711 so the pound should according to the statistical average move 107 more pips. If thats the case a fella should be able to pick up a few pips. Sounds simple

Your obviously talking of retracement from the of .9846. But what other point are including in your retracement and what fib level is it tracing to. Just wanting to learn strategy.

What i mean pound will not go to .9577 by today. I'm calculating for long term (based on weekly chart). Maybe by Thursday or Friday (before NFP) price will hit .9755 area then NFP news will push price up at our target 2.0

Pound is currently.9708

i drew a small fib from .9735 to .9718 from there it retraced to the 62%(.9730) then fell 161%...

the 161% extention is also a 62% fib in the other direction from .9678 to .9748....

im just watching price movement now, it may break the 62% and continue to fall. from the spike we saw earlier we saw a 50% retracement from it and now its goin down and testing the 62 again

kinda confussing, just my prospective

wrong typing... should be .9577 not .9755

Right now I am looking at a statistical average high of .9852 134 pips from the low or a statistical average low of .9604 base on todays high .9738.

i see that it may have jsut broken the 62% and will fall a bit now hopefull to one of the pivot points im not short yet tho

On my 5/13/62 the 13ema has crossed the 62ema my candle is about 35 pips below the 62 ema on the 1hr chart and London is about to open. For me it's close to a short

the fib i measure from 9729 to 9760 had a 50% retracement like i mentioned above and again made a new low bouncing like before at the 162% extention, another13pips