Cable Update (GBPUSD)

you dont see often really

eu tomorrow ,we must see 1.22 ,

measure todays candle ,note if you think bullish or bearish ? ,how many buyers (top wick even lower wick)
you name it price Itself is telling you cant sell fast enough
I dont care to look if theres a pivot ,overbaught undersold maccd div ,


price is going somewhere right and its not here It likes to move in nice even moves

You have bones, you have. Enjoy the sun dude, I'm off to work

140 today roughly

170 today for cable ,where does that take us ?

eur usd 140
gbp usd 170

eur gbp ?

Sun has got to you already.

Pip moves, I thought you meant pricing I thought you had lost the plot...

lol anyway eur gbp ,is more bullish next month im thinking ,

Crossed +10000 pips....in three weeks...

Ping pong need it to go up
Got a couple small longs in,went to work an everything has turned against me.
Should be able to trade out of it

Just takes longer

G/M

Last Day of month today and Monthly candle could well close as a master bearish engulfing (thrust) of the previous 3 (or even 4) candles on that t/f. Barring a massive rally above 6300 (highly improbable) the 6300 level will be confirmed as a farctal swing Lh on this t/f with close of the candle tomorrow and this will foillow the last LH and L, but this t/f although looking more bearish than bullish remains in an opa range.

On the Weekly price has made a low below the last HL and L of it's previous general opa uptrend putting that in serious doubt now.

Daily continues it's classic opa downtrend with 3 x fractal LL's and 4 x LH's now and Wednesday's daily candle just closed is a classic bearish thrust with ascending weekly trend line providing the support at the current daily low.

@/below the current daily low:

[ 5470-60 Weekly ascending t/line coming thru on present daily candle
[ 5968-60 prev minor 4hr/1hr sw lo zone
5428 Monthly S3 @/around
5419 Daily S1 @/around
5392 85.4% 5234-6300
5366-37 prev minor dly sw hi zone incl 5361 Weekly S3 & Daily S2 @/around
5340-30 Monthly ascending t/line coming thru on present daily candle
5275-34 prev Mthly/Weekly/Daily swing lo zone incl 5249=Daily S3 @/around



G/L

Weekly chart and ascending trend line shown below

G/L

4hr and 1hr in general opa downtrends...take your pick where you draw fibs from the swings from 6300 and below to current daily lo-some are obviously probably more importnat than others - ie the daily swings at 6300, 5847 and 5714 fro eg

G/L

Hi everyone, first post, bit of a newbie so bear with me lol.

Do you guys see a bit of a retracement back up for both EU and GU today, especially EU, after yesterday's big falls? I think the outlook is still bearish for both but they can't keep going straight line down with no retracement can they? Just wondering if I should dare to go long!

Thanks

Some fading of yesterday's bearish thrust daily candles going on in this pairing and eurusd. Last LH on 1hr is @ 5613, DP is @/around 5531...this t/f remains in a general opa downtrend.

G/L

Price at the 5460 low is @ 111% of the 20 week atr and 132% of the 20 month atr so extended from those averages...some month end position balancing and profit taking likely going on also ? If going long - look at the potential upside obstacles ie where support may become resistance and fibs/trend lines where 'sell the rally' participants may come back in and work out whether your R:R stacks up. Under 5460 is probably best place for a stop depending on what t/f you act as a trigger?

G/L

fractal swing (LL) now on 4hr at the 5460 low

G/L

Just started to try some small trades,always seem to end up on the wrong side off every trade.
Still all good fun and will be great to improve my trading skills.
I am going to trade this pair now as I was jumping all over the place.

Thanks

Thanks bbmac. Most of the potential retracement seems done now actually, depending on this afternoon's US data. Long would be more risk than reward. Might be a better idea to look for a short entry, my 30 min chart suggests about 1.55320.

http://pokeromil.vacau.com/gbpusd.png