Cable Update (GBPUSD)

still waiting @1.5720. short position.

if i were to make a speculation, i think fiber will go nowhere from here on and perhaps the daily closed as a pin bar. as with cable, i see that we have pin bar on the 4h. waiting to make my stunt to long the pair.

PS: this is just speculation, nothing to do with TA.

had entered long cable @ 5770, stop loss is at 5750 which is the low of the 1h hammer, just a test position, will see if cable can sustain above 5780 at least for short term trade to plan for longer trade.

oh well, got stopped out, will leave cable to the bears, i guess i'll stick with fiber and swissy..

Later guys.

5720-5740 could be nice area to look for buyers strength. ill be ready

atm i think cable is not ready for any reversal yet, at least it still has not show up in any TF. better stick with fiber. if not, you're just like catching knives. imho.

Just back at desk updating charts, the rise from 5745 encountered supplt the 38.2% of the then 5931-5745 and previous 1hr swing lo zone/previous support...see-ing a new low on the day result at 5737.

Below this lo:

5718 50% 5270-6165
5713 Daily S2 @/around
5708 85.4% 5629-5165
5704-5681 prev 4hr sw lo zone incl 5689 = 76.4% 5541-6165

5660-53-5629 prev daily/4hr sw lo zone and prev dly sw hi zone incl 5657 = Weekly S3 @/around, 5632 = 85.4% 5541-6165, and 5631 = Daily S3 @/around

5613 61.8% 5270-6165
5554-5541 prev daily/4hr sw lo zone
5504-5490 prev 4hr sw hi zone incl 5501 = Monthly S1 @/around
5481 76.4% 5270-6165
5386 85.4% 5270-6165
5336-5319-5270 prev weekly/daily/4hr swing lo zone
5194 61.8% 4225-6746

Price has travelled only 55% of the 20day atr at writing. To the immediate upside, per current near-term 1hr screenshot - a little fib heavy if you fib every 1hr swing hi from 5931 - the last 1hr/4hr swing hi...other fibs from 6165, 6129 and 6092 moved to 4hr chart. I'm thinking that moves from 6129, 6092 and 5931 are the most meaningful re fibs, and possibly the 5815 swing ? - Time will tell.

G/L

up and down un and down.

up or down?

forget it mate, i'm done trading cable for few days i guess until clear view is sighted. better stick with fiber imho.

agree! i finish my session here.
im also sick 38° fever.
i let a small long in both gu n eu to run without me.

maybe if im lucky will turn on pc tomorrow and price 36eu 59gu
lolz

good luck

the reaction to my area is quite strong but with not a proper volume and timing. i am still out.

the thing is atm fiber is more clear in direction and even more clearer if you can relate it to swissy. cable does not relate as well as fiber to swissy so, i think better wait for clearer PA for cable. IMHO.

bounce from 5737 has reached 23.6% of 5931-5737 , will a 1hr bullish hammer candle result ? 8 mins to it's close

G/L

yeah, agreed. waiting does not have a negative value, does it? negative values makes me feel like vomit. lol.

again more patterns of bullish divergence 3min - 1hr at the current 5737 lo. 1hr closes as a bullish hammer at 50% 5845-5737

G/L

Cables weekly range for last six weeks between 260-360 pips. Would expect weekly bottom to be luking here abouts, and Wednesdays often mean reversals.

this is the 1hr regular bullish divergence-triple divergence on the osma - grey colour shown below...I should caution though - there have been patterns of bullish div on this 1hr t/f since the 5827 swing lo, and although each has seen a bounce up - the bears have ultimately pushed it lower to the current 5737 lo.

G/L

36eu is not enough mate, make it 37eu.. lol. First resistance eu is at 3535. let see can we get over it today..

I am looking towards breakout eu at 3565 to add to my long..

until then, later guys.

Green pips everyone.

Currently what we see here,GU has been Sideways under the Yesterday Low.Futhermore,it also retest back the Down Trend Line (Blue box).If the market is retracing UP,there's 2 resistance we should look at :

1) Monthly Pivot
2) Previous SR around 1.5880

Otherwise,it create pattern before it countinue Down Trend.

Twinsummit