Cable Update (GBPUSD)

you make comments without charts - I am confused......all I know is that i posted my results from my overnight short trade.....and unfortunately I closed tooooooo earlier.

ok....I waited 5 plus mins for your response or at least a chart.....can't keep my eyes open anymore......will look later when I get up.

and please don't take this the wrong way......I am very curious as to why you say what you say........help me understand.....it will make us all better traders.

Cheers,

Faller

i wouldn't short unless it break below 6118.. before that happen, my call should be long with < 30 pips target..

Now it is a decision making time, to choose a side for the big move start

Who knows, where in Canada are you?

Bank Hol yesterday in the Uk. Last week saw 5 x consecutive bearish Daily candles off the previous week's 6300 Hi resulting in a dark cloud cover Weekly candle. Yesterday saw some downside follow thru on last week's Lo before finding demand at the 4 fib cluster betwwen 6117-11 (namely 85.4% 6077-6300, 38.2% of 5805 (average of 5803 and 5897 swings) - 6300, 38.2% 5817-6300, 61.8% 6007-6300, with Monthly Pivot in the mix there as well. Strong recovery then off that 6113 Lo yesterday resulting in a Bullish hammer engulfing on the Daily t/f - which depending on today's daily candle could result in a fractal HL on that daily t/f.

Slight follow thru on yesterday's hi early in asian session- Hi around the 61.8% 6245-6113 then a drop from the previous 4hr/1hr swing hi zone to the current Daily lo and price has given back over 61.8% of the rise up from yesterday's 6113 lo.

Below current price:

6145 4hr ascending trend line on present 4hr candle
6136 Daily S1 @/around
6134-32 prev minor 1hr sw lo zone incl 76.4% 6113-6198
6125 85.4% 6113-6188
[ 6117-13 prev 4hr/1hr sw lo zone
[ 6118-11 3 fib cluster incl 6112 = Monthly Pivot @/around, and 6111= 85.4% 6077-6300
6098 38.2% 5769-6300
6090-87-80 prev minor Daily/4hr/1hr sw lo zone incl 6090 = Weekly S1 @/around, and 6084 = Daily S2 @/around
6080-75 prev 4hr/1hr sw lo zone
6071-49 prev 4hr sw hi zone
6058-48 3 fib cluster incl 6054 = Daily S3 @/around
[ 6055-24 prev minor weekly/Daily sw hi zone (non immed) incl 6035 = Weekly S2 @/around
[ 6045-41-36 prev 4hr/ sw lo zone incl 6035/34 = 50% 5769-6300/38.2% 5601-6300
6019-07 prev 4hr sw lo zone
6002 61.8% 5817-6300
5995 61.8% 5805-6300
[ 5982-66 prev minor Daily/4hr sw hi zone (non-immed) incl 5971=61.8% 5769-6300
[ 5970-62-57 prev 4hr sw lo zone
[ 5965-60 ascending Daily t/f t/line on present Daily candle
5952 50% 5601-6300
5932/31 76.4% 5817-6300 / Weekly S3 @/around
5926 Monthly S1 @/around
5923 76.4% 5805-6300
5910-5893 prev 4hr sw lo zone incl 5894 = 38.2% 5234-6300 and 76.4% 5769-6300
5889 85.4% 5817-6300
5879 85.4% 5805-6300
5873-60 prev 4hr sw lo zone incl 5869 = 61.8% 5601-6300
5847 85.4% 5769-6300
5824-16-03-5799 prev Daily/4hr swing lo zone (prev Weekly sw lo zone to 5803)
5796-88-5769 prev Daily/4hr sw lo zone incl 5769 = 76.4% 5601-6300 and 50% 5234-6300

@/above current price to the upside per near-term current 1hr screenshot below:

4hr/1hr remain somewhat mixed, Daily is still in a general opa uptrend, as is weekly.
G/L

Hi to everybody. I've closed my sells with little P and right now I have sells on Cable, Eva and Kiwi. I think today we are going to retest 6113. The situation shows that we have broken the ICHI cloud downwards (12,24,120 H1 settings). As well as we are still in the downchannel 1H TF. So we are back bears. If we break it the next target I see is 6060-50 appx, if not we are going to retest 6205-10. Profit to everybody!

Thanks ,another chance comes up & so may go for 6277 around next when confirm go .back again over 6155, confirmation at 6170 & 82.watching previous low 6139 & some lows for lumsum entries also if even .

eu trying more correction in lower tf but in H1 some buyers took position & may stop around .
fontu

Just short at 6150 , SL 25 pips , let's see if it can break the 6113 and bring us to "free fall" again )

gu breaks previous lows & so 5th wave down as a result & so will wait it end again, that at some lows ! 3 of last 5th running !
fontu

opened a short at 1.6135. the move in last 2 hrs convinced me to change my view.

Intraday remains bearish so far and the daily candle could well bearishly engulf the previous bullish daily candle depending on how it closes ?

78% of the 20 day atr covered so far today. 20 day atr is 87 pips now ! - shows how the ranges have contracted, last week's pip range was 159pips and the 20 week atr a mere 239pips.

G/L

So last night divergence on H1 didn't lie. I woke up today to see price felt a bit. I am long again - there is divergence on M15 with nice dojo as a confirmation. I'll be looking @ 1.6200 again stops just below last candle shadow.
Green pips to all
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Thats a terrible place to short... its heading for 1.6250

Well that was quick wasn't it?

that's a terrible reason to go long - just flimsy 15min divergence ? Precipitous drop on 1hr - I was looking for reasons to get short not long !

1hr mixed-bearish now re opa

G/L

not sure on that. the reversal from 1.6175 to 1.6130 was very sharp.

I must admit it wasn't the best place 1,61135 will be interesting area, still learning - and losing is a part of the process isn't it?
I trade divergence and candles and sup&res and it was not the best support in fact there was nothing significant out there except doji and divergence. There is a strong down move atm - just another false signal. Lesson learned.
Regards