Cable Update (GBPUSD)

added higher, scalped out most



.........just realized been taken @ be

Daily...Demand at 15524... Major demand at 15357.

as we can see from the chart,GU is trying to test our Daily Pivot.If it able to break:

1) Daily Pivot
2) Trend Line (Orange Line)

we might expect the market is Heading North.Beware of False Signal.However,if the market able to break Yesterday Low,Bearish is still Valid.Let's wait and see.


Twinsummit

The IMF makes it clear it has funds only for countries with healthy fiscal policies, does this spell the end of the Euro? Will greece default and leave the Eurozone? Will everyone rush to the dollar like a kid in a candy store? (I would if I had invested in Europe). My chart suggests this is a distinct possibility. We have twice tested and twice been rejected at the monthly 38.2 retrace from pre GFC highs (this is very important) and every 200ema from the 15 min upwards to the monthly is weighing like a boulder on this pair (that's a big sell in my book). My trendlines tell the same story. Where will it end??

The Monthly MACD is also rolling over.

Hi everyone i have a pending sell in at 1.55557 with stopp loss 1.56057 and tp at 1.54557. This is only my view.

Enjoy your day and let the pips be with you

thanks, but those pips wont be with you, they'll be against you... we're in the process of a reversal now. 1.5595 is next

do u agree guys?....im try to spot low price first then long

here is my cable ,

yup, morning star nice find!

be nice to see it close above the pivot though; 1.5556

Looks good, my chart shows some reaction down from the 30 min 55 ema and I doubt very much that we will see a possible trend reversal until 93, so may the pips be with you also

that 4hr never confirmed on my chart.

4hr/daily are in a downtrend . 1hr has made a H above the last LH of it's downtrend but price has found supply at 5558- the last previous 1hr swing lo zone /38.2% 5668-5493/Daily Pivot and remains bearish overall. The 50sma is below the 100sma and that is below the 200sma on both the daily and the 1hr, price remaining below all 3 sma's on both t/f's. It's a similar story on 4hr except the 100sma remains above the 200sma on that t/f although converging on it and very likely to cross below it with any more downside price today..

Yesterday's Daily Candle was bearish, the 5493 lo being at the previous minor daily/previous 4hr swing hi zone (previous resistance) ...and a fractal swing lo there on 1hr has now created a previous 1hr swing lo zone (ie potential 1hr support zone) at that level as described below. Below this area the list goes on to describe other potential support factors to the downside;

[ 5503-93 prev 1hr sw lo zone
[ 5504-5490 prev minor dly/4hr sw hi zone incl 5501 = Monthly S1 @/around

5481 76.4% 5270-6165
5462 Daily S1 @/around
5459 Weekly S2 @/around
5398 Daily S2 @/around
5386 85.4% 5270-6165
5336-5319-5270 prev weekly/daily/4hr swing lo zone incl 5303=Daily S3 @/around
5231 Weekly S3 @/around
5194 61.8% 4225-6746

To the immediate upside - per the 1hr current near-term screenshot below. Take your pick where you plot 1hr fibs from to the current lo but I have the main upside fibs plotted from swing hi's at 6165, 6128, 6092, 5888, and 5691 all being at least 1hr/4hr swing hi's. All but that from 5691 are not shown on the 1hr chart below, and this is shown in yellow.

U.s Holiday w/e effectively begins today with the Thansgiving Bank Holiday, and a lot of traders likely taking Friday off too to make for a long w/e ...low volumes likely going into the London afternoon therefore but ahead of that - 0930am gmt sees the 2nd estimate of the Uk's Q3 GDP number - 1st estimate being +0.5%...any upside or downside revision is likely to see at least a knee-jerk gbpusd reaction. Although unlikely an upside revision of +0.2% or more could see some £ relief whereas any -0.2% or more downside revision could see some £ pressure. A smaller +/- 0.1% revision is more difficult to say, but in a bearish market -0.1% is likely to see a bigger reaction than +0.1 % ?
　
G/L


　

Very neat trade redsworld...

Hi there,

Cable recovery ran out of steam just below 1.5560

Exiting the long position @ 1.5540 -ve 0.0100

Will await a new setup

My Position Is Now F L A T.

only 27% of 20day atr covered so far today, 94%of 20week atr so far this week, amd 95% of 20month atr so far this month. Eurusd even tighter this week/month so far at 63%/70% respectively with daily the same as cable so far.

G/L

ty






closed sell


not sure if its consuming this level, or its rejection to visit higher