Cable Update (GBPUSD)

I have my short @ 1.6430 Target @ 1.6100,already Move my SL at BE



Cheers



TTraders

[quote=TrendTraders;4818367]I have my short @ 1.6430 Target @ 1.6100,already Move my SL at BE



Wow.. what kind of theory or graphic that u use in measuring it?

A matured diamond swing developed thoughout the day & time to work if get any news . go upto reaction high ok but if no breaks then reaction low validation & possible breaks . market does not like any diamond work & may take any action to invalidate usually . lets see if work here or not, a small one .short taken .

fontu

[quote=Evelyn Susan;4818510] We will see,As long my Position was set at BE now,Nothing to be afraid.Just let your profit running

Short around area

Where is the direction?

Will the resistance at 1.64000 hold or will a 1000 pips reversal completes at 1.67500 area?

The weekly candle appears undecided with only about 17 pips from the open and current price so far. The next few days could be very interesting? The concrete zone (1.60000-1.64000) will give us the clue.

This is the bigger picture!

Bulls have been launching an attack it seems. 1.634 looking ominous against any chance of a further move downwards. Hourly RSI creeping up to 50. Congressional vote at 11pm GMT. London close will be interesting to say the least.

No bull bear in attcking mode late night my time . update
http://www.forexfactory.com/showthre...94#post4818894

Reckon the ride becomes bumpy all the way to 1.62?

Long closed at 63701.
Done for July.

DP retested in past hour & held, now broken, seems like stop hunters in action to collect orders for a long ride. Descending channel only momentary illusion at work - too few points atm and will be invalidated as that broadening pattern might still be in play -- price could go to broken red TL for another test & into supply and that would suggest further downside but not now. Risk appetite/aversion ('moody waves') influencing cable and eurusd in similar fashion so eu development will be of great importance, it seems to me that indestructible eu bulls gunned stops there to boast orders for another 4330 attack and if they shall succed, it could push cable a little up as well.

Anyway, I can't imagine a massive drop in cable if us-related fundamentals allow for a continuation of eu rally towards 1.50.

I'll be looking for shorts though.. had one 15pipper before but closed on DP. I will watch 6405 later on for a possible short entry if my channel doesn't prove valid. Should we go down sooner, 6310/20 is a tough nut, we haven't had a hourly close below since Thursday and that could be a safe long entry of choice after another test of demand area around/below 6300.

GL

Morning , bear still there & strong , though closed short few min ago but will retake at some up .

http://www.forexfactory.com/showthre...25#post4820025

usdx ,ok for more retracement up but why it seems there a diamong swing & precaution may be again need. breaks top will invalidate , do it now .
fontu

hi,

here's another wedge that may have been broken. this time the pair is GBP/USD and the potential may be towards the 50.0% retracement / previous resistance now turned support/.

Still don't

lets sell cable now...target 1.6300 for scalp

G/M,

No follow thru to the upside yet on yesterday's daily bullish hammer candle-far from it as cable dips down from the 61.8% of the 6438-6293 (yesterday's lo) move.

1hr is somewhat mixed now and 4hr printed a HL at yesterday's lo but now a LH in it's uptrend...daily remains in an uptrend.

Above current price the following potential resistance/sbr factors:

6374-82 prev 1hr/4hr sw hi with 6382=61.8% 6438-6293
6388-95 prev 1hr swing hi zone
6399-6413 prev 1hr swing lo zone with 6404 = 76.4% 6438-6393
6432-38-42 previous 1hr/4hr/daily swing hi zone with Weekly R1 @/around 6420 and Daily R2 @/around 6438
6452-71 previous 4hr/daily swing hi zone
6480-96 previous 4hr swing hi zone
6515-46 previous 4hr/daily swing hi zone inc 76.4% 6746-5779 @ 6516, & Weekly R2 @/around 6546
6714-46 previous daily/weekly swing hi zone with 6733 = Monthly R2 @/around
6755 Weekly R3 @/around

Below current price

6319-11 prev 1hr sw lo zone with Daily S1 @/around 6315
6311-6293 prev 1hr/4hr sw lo zone with 6296 38.2% 6068-6438
6284-73 23.6% 5779-6438, 50% 6119-6438, 38.2% 6003-6438,
6271-60 prev 1hr/4hr sw lo zone with Daily S2 @/around 6260
6252-41 prev 4hr/daily swing hi zone, with 6252= 50% 6068-6438, 6241= 61.8% 6119-6438
6226 Daily S3 @/around
6221 50% 6003-6438
6212 Weekly Pivot @/around
6209 61.8% 6068-6438
6195-83 = prev 1hr sw hi x 2 zone with 76.4% 6119-6438 @ 6195, 38.2% 5779-6438 @ 6186
6169 61.8% 6003-6438
6154 76.4% 6068-6438
6148 Monthly Pivot @/around
6130-19 prev 1hr/4hr sw lo zone
6119-12 prev 1hr sw lo zone
6109-07 50% 5779-6438, 76.4% 6003-6438
6085-68 prev 1hr/4hr sw lo zone with 6085 = Weekly S1 @/around
6062-54 prev minor 1hr sw lo zone
6032-15-03 prev daily/4hr/1hr sw lo zone with 6032 = 61.8% 5779-6438

　
Price is challenging that previous 1hr swing lo zone now.

Uk data at 0930am London.

G/L　

then wipe it off yer damn chart)))))

Price pretty bearish intraday so far with the sell-off from the 61.8% 6438-8293....price challenging that previous 1hr/4hr zone leading down to yesterday's 6293 Lo now.

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Wonder whether the Democrats/Republicans will agree a comprimise re Debt ceiling in The U.s in time ? - actually I wonder whether the Republicans can even agree with tehir tea party faction ? Lol Reminds me of the labour Party in the 80's in the Uk with their 'militant tendancy' faction - and they expelled them. Lol

G/L

keep producing chart like this u have my vouch..good analysis

weekly candle looks weird as alpari data feed is all messed up..i need to phone these people..i had enough of them

Oh yeah, so that's why it is stuck in there