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Cable Update (GBPUSD)

  • #402,341
  • Oct 8, 2014 7:47pm Oct 8, 2014 7:47pm
Quoting navk
{quote} Taken 10 + more : GA short.
+15 more..... GA short.
Intraday only.
  • #402,342
  • Oct 8, 2014 7:49pm Oct 8, 2014 7:49pm
i am going to trade in this two possible ranges for next 10 days, i hope i can collect more than 1k pips
http://i.imgur.com/YeCAFdU.png?1
  • #402,343
  • Oct 8, 2014 8:13pm Oct 8, 2014 8:13pm
Quoting navk
{quote} +15 more..... GA short.
Some more ++ pips
Intraday only.
  • #402,344
  • Oct 8, 2014 8:45pm Oct 8, 2014 8:45pm
if this Fibonacci is not going to start working then GU will stay around 1.6250
https://charts.mql5.com/5/901/gbpusd...nvestments.png
  • #402,345
  • Oct 8, 2014 10:00pm Oct 8, 2014 10:00pm
Finally we seem to have a proper reversal pattern.

Fundamental and technical bother in favour of at least a deep correction.

Target for breaching of B at 1.6520

Attached Image (click to enlarge)
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  • #402,346
  • Oct 8, 2014 10:27pm Oct 8, 2014 10:27pm
if fail overcome 1.623x (weekly 23.8 level), for longer term it will make lower low on weekly..

Good luck...
Bullish or bearish both can make money as long as you manage it properly...
  • #402,347
  • Oct 8, 2014 10:29pm Oct 8, 2014 10:29pm
The FOMC Meeting Minutes show that the Fed wants a weak currency too. As a result, the dollar sold off against all the major currencies.The GBPUSD, of all the currencies, may be one that could see a rally. Why? They have some members who want to raise rates now. Their economy is not as fragile as others.
  • #402,348
  • Oct 8, 2014 10:50pm Oct 8, 2014 10:50pm
Bank Rate today can correct the picture in both ways

Any thoughts, guys?
  • #402,349
  • Oct 8, 2014 11:33pm Oct 8, 2014 11:33pm
morning right in
  • #402,350
  • Oct 8, 2014 11:41pm Oct 8, 2014 11:41pm
Those were some good moves in the mid-day unfortunately i do not care too much about fundies.... sell order triggered @ 1.6157 SL 1.6177 TP 1.6100 Another high probability trade, when u look at the 1.6170 Zone which was former support now turned resistance (look at your 4 hr charts) It actually increases the odds. A lot of confluences come into play with the Eur/Usd & dollar buyers on dips. Good luck guys and green pips.

Fyi: this was a confirmation entry on the 15 mins charts after the break, retrace / entry. Cant get much better than that, of course anything can happen but we are here for high probabilities.
  • #402,351
  • Edited Oct 9, 2014 12:12am Oct 8, 2014 11:53pm | Edited Oct 9, 2014 12:12am
6274 target chart to follow just in a move here
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pp is on the blue line in long here at 59
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but struggling to break 6180 again fail then short lower maybe 6135 area
  • #402,352
  • Oct 8, 2014 11:55pm Oct 8, 2014 11:55pm
well there goes 0.008 of my account, very interesting price action. Usd sellers still in strength, might have to sit this out. Even tho a failed sell signal is a buy signal, it just feels too expensive to be buying anything right now. Hope you guys have better trades ...
  • #402,353
  • Oct 9, 2014 12:05am Oct 9, 2014 12:05am
Quoting mmooney
{quote} I reckon Nav is probably right - FOMC will look to calm markets after loads of bullish data "Won't risk recovery. Early rate hike premature.." stuff like that
Standard procedure
  • #402,354
  • Oct 9, 2014 12:07am Oct 9, 2014 12:07am
Quoting Red Alert
if fail overcome 1.623x (weekly 23.8 level), for longer term it will make lower low on weekly.. Good luck... Bullish or bearish both can make money as long as you manage it properly...
agreed
  • #402,355
  • Oct 9, 2014 12:16am Oct 9, 2014 12:16am
Quoting IveGotQuads
well there goes 0.008 of my account, very interesting price action. Usd sellers still in strength, might have to sit this out. Even tho a failed sell signal is a buy signal, it just feels too expensive to be buying anything right now. Hope you guys have better trades ...
Morning Quads it might just be 3 pips sl out 6180 looks like sellers , stuck in the middle now i thought it would of gone higher faster give it a few pips it might be worth another look at it,,regards Billy
  • #402,356
  • Oct 9, 2014 12:18am Oct 9, 2014 12:18am
we will have big news regarding bank rates of pound...
so prepare your bid and SL.....

Good luck
  • #402,357
  • Oct 9, 2014 12:23am Oct 9, 2014 12:23am
funds banks etc use 20 and 200 it could be at the point long or short here above 6200 i would say long
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  • #402,358
  • Oct 9, 2014 12:25am Oct 9, 2014 12:25am
GJ H4

Under pressure
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  • #402,359
  • Oct 9, 2014 12:27am Oct 9, 2014 12:27am
I feel that as markets digest the news and sentiment starts to shift from US to UK in question 'who will raise IRs first?' cable should be due another bursts north. Key info now is UK data as has staggered this month. Strong UK data will strengthen investor confidence and perhaps confirm a reversal.
  • #402,360
  • Oct 9, 2014 12:32am Oct 9, 2014 12:32am
Quoting chazzle
GJ H4 Under pressure {image}
morning Chaz is gone into consolidation on the 5 min pressure from 6180 ,,break it then could be a biggish move
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