Cable Update (GBPUSD)

another weekly chart.

You took sell ? :O

yes I'm heavy.

Nah daily shiv is doing what price does so you can't predict with it..only see what you can see also on chart.

The 50 fibo might also break as I'm more quite sure the daily candle will first retrace up (we can have a down gap aswell) and then go down if it has to resume downtrend. I stick to my chart so i think we'll see a head and shoulder pattern and then down, but I'm open minded so I'll jump on a break if I see one.

Good someone pointed out that trendline aswell , I support your chart. I don't think we go kaboom or kapush...so better stick with real targets.

Uf very risky trade my frined,my advice exit from sell took buy for long term...

Black dog is very rarly wrong...Macd isnt yet conifrm long but Black Dog is UP and macd will confirm very soon...Be careful...

You can see picture >

I think Cable may just go a little higher (up to 1.64 or 1.65 before heading further down (sub 1.60). Of course this is just my opinion

This is EURUSD not GBPUSD

Lol,i posted GBPUSD becouse is the same if EURUSD goes up GBPUSD will go also...Very similar charts on Weekly...

OK, this is the black dog weekly on GU . it points down.

Lol,that isnt Black dog....Baby i give to traders just advice for long term,very good retrace and i expect new high on EURUSD also GBPUSD will go Up...





Cheers

Thanks mate, I'm short from 285 but have already dumped half my position with the tentative move down, this seems like a prime level for MM's, I imagine there is a big juicy bunch of stops above the high, wouldn't be surprised to see price run them out, sucker in some new longs and then fall back and whip around sideways for the first part of next week or at least test the immediate upward trend line, price rarely turns on a dime does it?

Key for me now is how price reacts to the 282 level, if it breaks back up I will be exiting.

any way, thanks for your concern and advice.
I'll strongly consider it.
Thanks bro.

You are welcome

US Dollar Forecast Calls For Breakout – Timing is Anyone’s Guess

http://www.dailyfx.com/forex/fundame...Calls_For.html

Hello GM
There is no doubt you know how i see u "Professional Trader"
I try to follow your post and learn from you, IF we can't agree now about our view at least I learn from you "Faith to your view and stuck to your plan".

hey...this is still sunday...why every one look like so excited to guess what will happen tommorow...don't you have day off when weekend?
(i guess babytrader don't have girlfriend....so he make analysis all day...)
BTW that's good....

I am up 6% this year and dont know if ur baby gonna leave u and where she will go north or south, playing both sides.
The only thing u must be ready for is to know: What u gonna do when ur baby leaves u, tell me what u gonna do

Looking through the different time frames allows me to take trades throughout the day in direction of the immediate trend, using the h4 and daily as the immediate trend setters and trading off the 15m in confirmation, using the 1m for entries. The 24SMA and 200EMA are the big guns for me and using the MACD and OSMA as confirmation, showing me directional indication with the least amount of head fakes, but really nothing is perfect.

Taking the same logic and applying it to the longer time frames, could show that we might be heading for a serious waterfall on cable.

If you see on my chart, I have the monthly, weekly, daily and H4 charts. Everybody is showing up to this party for what the long term might be showing.

Lets work back from the monthly...(top left)
Price peaked at about what I would consider the fib50 on the major fall from last year to bottom of the immediate monthly chart. Since then, we have been creating new lower highs on the monthly chart, and price still resides below the 24SMA, with a negative MACD and OSMA losing strength. Hrrmmmm.

Moving onto the weekly...(top right)
The latest attempt at a bullish position seen us touch above the 24SMA on the daily, (red line) and price close below. Checking the MACD and OSMA...MACD about to go negative, OSMA already there.

Moving onto the daily...(bottom left)
The daily has closed above the 24SMA, some time ago, and still holds it position there, price fell below the 200EMA but managed to close the day above. (green support lines for 24SMA and 200EMA). MACD still below zero, but could show improvement and go above.

H4...(bottom right)
Early indication on continued price improvement as the 24SMA is above the 200EMA, and the Friday sell off took us just below the 24SMA and bounced back above showing some support, MACD positive, OSMA negative, if corrects and goes back positive, we could see price move on through resistance on the longer time frames.

So, really, we are currently caught between 4hr support and weekly resistance in a long term sideways channel.

What can happen?

Well, I look at it like this...
Long term trend is still in play based off of the monthly charts. The weekly shows resistance @ the 24SMA and price rejection. IF and a big if here, we lose support on the daily and H4 charts, we could see that MACD go negative on the weekly, which puts first line of support on the monthly 200EMA. Price below this on the month...we looking at next line of support at the green line on the monthly to balance the books @ about 1.5068 <-ask the VSA guys why.

Anyways...we are a long way away from that, and assumption of a 1200 pip fall overnight is flat out crazy, but if we see where we are heading, might keep us in the better side of profit.

Just my idea here...

I'm expecting a retracement too, not trading it as i must see a new high or back into sell.

Anyway, what's the Black dog bro?