Cable Update (GBPUSD)

Quoting smikester

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Not normally relevant to this thread but it would be interesting to see how the Dow opens given that the FTSE is down 2% already and China was down over 4% last night.

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Quoting smikester

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Not normally relevant to this thread but it would be interesting to see how the Dow opens given that the FTSE is down 2% already and China was down over 4% last night.

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Quoting wormboy

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looks like an inverse shampoo on my M5. Well .. almost
the neckline has to go first for it to be valid.

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Quoting wormboy

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197 pipperoos to go ...

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Quoting cloggie

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Next stop 5123

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Quoting cloggie

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8086, 8044

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Quoting wormboy

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I got 5118, 5134

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Quoting cloggie

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I just took the biggy, for lill'uns I got 5118, 5123, 5142, 5155

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Quoting cloggie

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Here is #1.

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Quoting OldReigatian

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I'm on that train too. Hopeful back up to daily high and above

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Quoting javajames

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Hi guys,

Long time haven't been posting.....thread was a bit uninteresting....hope it's going to change.....with discussions about anayses and systems....illustrated by arguments and graphs....

so here are my 2 cents....
Yes trend is up: we're clearly above cloud and Sdl confirms..
But I believe in a retracement down to 1.4875 (upper line of cloud) ....why
1) Osma is down from zone 2
2) Macd in zone 2 shows a top
3) Stoch in oversold zone pointing down and with a 89.5 value

Hope it helps

GL to you

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Quoting cloggie

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I am with Wormy on this, no matter what you use for your favourite support there isn't a lot out there indicating anything else but up for now. I am not going to make any predictions here about where this goes from here, but unless we see a solid move below either the support or the channel I am still seeing this as a continuance.

I like the argument though that as we have had a solid bull move for 3 weeks, it is bout to reverse here.

Look at your supports, every retrace was bought into, what makes you think this one is different?

Of course there...

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Quoting malcolmb14

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1) red volume seller on up bar sent market sideways to down
2) massive volumes for 48 hours at a resistance level on weekly suggests distribution
3) another up move on 60 got hit with high vol on lower high

the longer this distribution phase lasts the bigger the fall I am thinking 4250 to start , tough to pin point entry though 5250 is 78.6 retrace on weekly , but may not get that high

Not keen on buying gu here that is for sure . much rather sell , but right now stacks of better thing to trade like aj ,au , eu etc

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