Cable Update (GBPUSD)

Well what do you know - another bullish daily candle (thrust,) close as price continues in it's 1hr, 4hr, daily, and now weekly uptrend (this weekly t/f see-ing 2 x HL's a H and now a HH at the current hi - although this not a fractal swing yet.) The greater probability continues to play out.,,potential resistance at the hi - the 161.8% of last daily swing 5716-5427, and that previous daily swing hi zone extending to 5843 - this at base of a previous weekly swing lo zone (previous support.) 89% of lots and 67% of traders in this site's trade explorer are short this pair !

So far this week price has covered 71% of 20 week atr...

More upside or a pullback ? What's the greater probability now - can it be determined ? - a lot here and elsewhere hoping for a sizable pullback !
Carney etc at Uk Treasury select committee inflation hearing tomorrow - may cause some movement .

G/L

Where are bears? :-p

They are in the woods taking a cr.. They may come out later (or not!)

G/L

remember:
1. never try to anticipate a move counter actual direction: that reversal could never come!
2. never trade what you think!
3. if you don't see something good to trade, then don't trade until you see it!

good luck

ah...
furthermore.. nobody knows what could come from fed this month!!!
and even if someone knew... it's impossible to predict market reaction.

Here we are?or am i wrong and noob....lol

Okay eqshack, your on a roll. Lets see how good you really are. Where do we go from here???

stupidest quote i ever saw in my life!

just to share my opinion about actual cable tech setup, i would say...

watching daily, weekly, monthly, quarterly.....

i would not try to short the thing "so easily" anywhere before 1.59 area. but in case price will eventually reach 1.59 area, then will depend when, how, and why!

new pullbacks in case price will reach 5850-80 are possible, also a short term contraction in middle 1.57 area but in daily chart, nearest strongest resistance is clearly 1.60.

uhm.. isn't it better to wait for rsi to reach 100 or to fail back < 70 and retest it in bearish divergence?

Cable in H1 Chart - Update

UK may want to increase interest rate, this is probably one of the reasons for GBP being strong.

GL/GT...

Hello GBP/US

Closed long

did a pending long 15770 TP15850

EUR/US keeps climbing,holding things up fornow

See what happens

I know what you mean some currencies go endlessly up and never come down.Charts are full of them continuous lines going up in space.

There are times which often with me I do anticipate reversal points and ride the wave down and after 300pips folks like you (perhaps)go ahh ha we got a new down trend and jump in.
Entire trading is based on anticipation since nobody knows the future exactly.
Just for fun since I like facts I looked all up trends since 2009 on GU and none have gone straight up without significant pullbacks in fact trend going up without pullbacks is an anomaly with most pairs.
Regards

watching good signal from gold & audusd correction or breakdown for good signal for gu & eu , scalping ok doing all oneway still down but for position keep again need more time & signals about .

gu crazy up but within control of further bearish nature > diamond swing converted into expanding triangle or even diamond may back with new reaction highs , much fatal than before then ! short signal in gu may back with breach 5718 as bottom last crazy spike & confirm further 5685 , next goes 5600, 5561 if too fast today & last confirmation 5428 again.
H4 tf , do the spike now or breakout for 5780 -5660 range or even die with London open , round bottom helped & the same round top if stay long time may kill also! waiting to see !
Thanks ,
fontu

Hi Tsar,

I placed a trade after checking your chart. The GU is hanging around on the channel top line for a while. It maybe break up, may be pull back.

I shorted cable from here with the plan to cover BE after 35 pips move south, TP1 at the bottom line level, 15615 (200 pips), TP2 is 14800 (back to July low where the rising channel kick-off).

Let's see if GU respect the channel or will break it up (in that case, the SL of 200 pips will be closed my bad trade).

Good day all

Gidday GBP/US

Man just closed another long

Looks like it will drop a turd

sure get in lower down

lets see were its going to

my shorts taking swimming lessons

Good Morning !
Today's S/R MT4 Templates

EURO
AUDUSD
EURJPY
CABLE
USDJPY
S&P 500
GOLD

http://www.forexfactory.com/showthre...30#post6958930

Today's S/R MT4 Templates

EURO
AUDUSD
EURJPY
CABLE
USDJPY
S&P 500
GOLD

http://www.forexfactory.com/showthre...30#post6958930

Another bullish daily candle yesterday...a slight upside move deeper into that previous daily swing hi zone [that extends to 5844] in early asia and then generally down in asian session, a direction that early London session carried on with. Price testing the Daily Pivot / 38.2% 5717-5830 (yesterday's hi) at the current daily lo.

Uk's Boe's Carney etc at Treasury select Committee inflation hearings later this London morning.

G/L