Cable Update (GBPUSD)

Quoting Bones

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Hey Nav and Salah k great job. I’m glad to see your charts, really it is the best thing you can do with your thoughts on what’s going on, you will find other traders further up the food chain here will help you more than random questions.
Nav a little tip with the fibs is if you go into fib properties ,fib levels, in description put @%$ after the fib number on each one when you apply fibs it will add the price at that level.
+ Its worth adding the 78.6 fib. This level can be used as a high probability point of no return i.e it is very likely to break the 100% before 61.8%
I think that’s right but anyone else feel free to chip in.

Ive had another look at my 4hr and noticed that the pin on it (clearly on yours Nav) came off a TL resistance which is reinforcing my view of a drop.

Really everyone trying to learn at least should post there charts regularly it can be very helpful and you just might get some free advise.
Best Of Luck Guys

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Quoting Bones

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Nav a little tip with the fibs is if you go into fib properties ,fib levels, in description put @%$ after the fib number on each one when you apply fibs it will add the price at that level.
+ Its worth adding the 78.6 fib. This level can be used as a high probability point of no return i.e it is very likely to break the 100% before 61.8%
I think that’s right but anyone else feel free to chip in.


Really everyone trying to learn at least should post there charts regularly it can be very helpful and you just might get some free advise.
Best Of Luck Guys

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Quoting nAVIN2007

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confirmation of bounce after hitting 1.9664 and upward movement possibly
now looking at the 15 minute chart we can see postive diverengce which may play, leading toward bullish movement see chart. these are the reason for why im in long.


what do u guy think?

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Quoting Carrera

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Hi nAVIN, just to understand the divergence here, if the arrows are pointing the divergence, then it is bearish according to them. When there is divergence the indicator tell you the POSIBBLE but not necessary future direction.

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Quoting nAVIN2007

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if the divergence plays here it will definately shoot up, i been experimenting with it for months, the stoch indicate the direction in which divergence will occur and we are undersoled. the only problem with divergence is it shows a correction is to be made...
I personally feel it will kick in to north as the stoch indicate

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Quoting nAVIN2007

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if the divergence plays here it will definately shoot up, i been experimenting with it for months, the stoch indicate the direction in which divergence will occur and we are undersoled. the only problem with divergence is it shows a correction is to be made...
I personally feel it will kick in to north as the stoch indicate

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Quoting Bones

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Ok Nav is the divergence on the 15 min chart,cause if it is it may not pay you many pips if it plays out,now if it was on the 4hr or day thats a different story...

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Quoting Bones

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Ok Nav is the divergence on the 15 min chart,cause if it is it may not pay you many pips if it plays out,now if it was on the 4hr or day thats a different story...

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Quoting nAVIN2007

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according to my analysis:
we are just right now trying to guess the direction of cable, diverence on 15 minute chart is very relaible i have used it in the past and i have made plenty of pips just by trading divergence (i trust it).
IM expecting a bounce of the TD line and the 15 minute chart confirms a bounce....the trend is up! we have broken away from the channel which forms a downtrend. the only way we are going down is if there are a confluence of factors relating to downhill movement and they only take affect as we approach and break 1.9664 and then 50% fib level till then the bias is up! at least to 1.9699...then possible a bounce and then confirmation is needed to go down, right now u cant trade large time frames since we are so close to trendline end channels and confirmations are unknown..only time will tell
all larger time frames say up movement only the small time frames suggest downfall. or maybe i just way out and wrong completely?

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Quoting salah k.

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im not trying to corect im just giving my opinion regards larger time frames and cable. i think in the long term cable is bearis as there r many economic problems facing UK and many ahead.

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Quoting Bones

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Well its good to have confidence Nav ,you may be right I suppose ,lets see,I will wait for close today to start implementing my plan

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Quoting nAVIN2007

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according to my analysis:
we are just right now trying to guess the direction of cable, diverence on 15 minute chart is very relaible i have used it in the past and i have made plenty of pips just by trading divergence (i trust it).
IM expecting a bounce of the TD line and the 15 minute chart confirms a bounce....the trend is up! we have broken away from the channel which forms a downtrend. the only way we are going down is if there are a confluence of factors relating to downhill movement and they only take affect as we approach and break 1.9664 and then 50% fib level till then the bias is up! at least to 1.9699...then possible a bounce and then confirmation is needed to go down, right now u cant trade large time frames since we are so close to trendline end channels and confirmations are unknown..only time will tell
all larger time frames say up movement only the small time frames suggest downfall. or maybe i just way out and wrong completely?
I guess what im tring to say is if the 4hr candle was engulfing and the 15 minute chart didnt show a bounce id agree with downhill movement but im swayed by the by the bullish activity shown on daily and weekly

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Quoting TraderJR

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How long have you been using this system, and what success rate does it have?

Thanx for sharing it.

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Quoting Carrera

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Just my 2 pips here.
At long term I see price hitting the HL 61% fibo then resume the up trend.

If the 61% fibo is broken, wow whom knows where this baby could go lower!!! It had happened before in that range area at the chart!!!

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Quoting nAVIN2007

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bro im in the boat as u..ive only been trading 3 months and in this time i realised fundamentals happen but it appears that technically what the chart say happens much more ..I really right now dont mind if im wrong cause u learn from yur mistakes....i really have no idea which way its going but i believe there more in favor for up than down...down is triple bottom and we couldnt break it. psychology i think would suggest people to buy as appossed to sell either way i have placed a trade long and if on opening i find we fall below 1.9657 level trust me, im short.....lol

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Quoting Bones

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Really love your charts man,if we get a hammer that would b the second monthly candle closing bullish in a row ,no?

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