Cable Update (GBPUSD)

Morning.

1.5850 was checked twice. I'll place my sell order their.

Regards,

Josef

morning,
yesterday i closed my long when i saw 1m candles closing out of the flag.
then i left charts.
came yesterday evening and notice the strong rebound from 5680 to actual 5800.
if i was on my pc i think i would have shorted neart 5730 and lost the position.
pure luck in this case!

im trying to understand what can happen today but sincerely i have not a clear clue and waiting something clear.

below h4 charts seems good price for short but this thing can also go to 5850 n 5900.
dont forget that a resistance is not there forever!
a bit zoom out in h4 chart and what i see is a strong bull flag. with a top @5850 and bottom @5680.

sorry i forgot the chart zoom out.

looking anyway on the other side of the trade there is also a kind of HS formation here near 5850.

i will probably only scalp today.

ok my short went in 5800.
stop above 5850
target very far from here 5590.
small position
will close if i see an h1 candle closing above 5812.
will add if get confirmed well below 5750.
im also ready to reverse my position and pick a long. market will decide direction!

good luck you all.

Hi to everyone!

Nice catch for today though is Friday!

Enough for me, for today!

Nice weekend to all!

Just to say that it is advisable to close positions before market close, apart from any swing trades that have plenty of breathing space.
Let the EU fiasco smoke clear and I expect a big gap on Sunday and it could be either way!

I have not been trading much due to various reasons including market conditions.

Take it easy and trade well!

Looks like I was outvoted. I think you already know I certainly would not want to stop you posting here Faller, as I have previously complimented you on your analysis. It seems as though my efforts were a bit misguided as this is a great thread and we all want it to stay that way and so I apologise.

I am seeing seeing strong risk appetite for now.

i am seeing buying early on, i got stopped out on my short for gbp/usd.

i would assume that a sell off may occur near closing time, taking risk off for the weekend.

easy money at 1.60 placing a short there for a very long term reward

http://www.forexfactory.com/showthre...89#post5050189

I agree, push up to 1.5940 then down by 100 maybe as far as daily open

usd/jpy got hammered today.

I am not seeing any profit taking into the London close.

everybody wants pounds for shopping this wknd in the district.

Hey ovaforty...on your chart...r those support and resistance lines? if so is that an indi? and can I obtain it?
thanks

western

This could be like last friday...everything just tailed up right into the close...especially for the aud and nzd.

They are simple moving averages set to the close, except for the 5 sma open (orange red), 5 sma low (white), and 5ma high (white).

5 sma close = yellow
14 sma =blue
22 sma =green
55 sma = brown
100 sma = aqua
200 sma = red
300 sma = pink
400 sma = purple.

hello all
hope everyone today went good.
gu moved good pips.

im holding now a short position 5945 n 5900...

bit worried about but stop loss is anyway in safe account area.
i will probably close it few minutes before market closing time, lost or profit doesn't matter (unless i see it goes very good...)

have a good weekend you all
bybye