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Cable Update (GBPUSD)

  • #407,841
  • Feb 5, 2015 7:58am Feb 5, 2015 7:58am
Quoting Lavanda
{quote} It looks that wants to fill the gap's retail at 53,30.
now stop
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H1.gif Size: 177 KB
  • #407,842
  • Feb 5, 2015 8:00am Feb 5, 2015 8:00am
Quoting danndc
{quote} stochastic and TL
The daily momentum is upward. Be careful with Stochastic as indicator of reverse, if you are using in the hourly.
  • #407,843
  • Feb 5, 2015 8:02am Feb 5, 2015 8:02am
danndc,

Depending on your timeframe, with the TL there was no confirmed TLB. So that shouldn't have told you to short. How are you using your stochastic oscillator to tell if you have a reversal signal?

B.
  • #407,844
  • Feb 5, 2015 8:03am Feb 5, 2015 8:03am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H4.gif Size: 184 KB
  • #407,845
  • Feb 5, 2015 8:12am Feb 5, 2015 8:12am
Quoting Bren0001
danndc, Depending on your timeframe, with the TL there was no confirmed TLB. So that shouldn't have told you to short. How are you using your stochastic oscillator to tell if you have a reversal signal? B.
i have been short from around 10/14 days
  • #407,846
  • Feb 5, 2015 8:17am Feb 5, 2015 8:17am
Quoting Dano12
{image}
Can you explain what is BTR and WC ?
  • #407,847
  • Feb 5, 2015 8:22am Feb 5, 2015 8:22am
danndc,
Quote
i have been short from around 10/14 days

You are trading on quite a long timeframe. I did notice on the daily chart that there was a TLB and confirmation a 5 - 8 days ago. Are you trading weekly charts?

B.
  • #407,848
  • Feb 5, 2015 8:25am Feb 5, 2015 8:25am
If D1 close like now, awesome double top...
Try don't lose pants never...
  • #407,849
  • Feb 5, 2015 8:25am Feb 5, 2015 8:25am
Quoting Bren0001
danndc, {quote} You are trading on quite a long timeframe. I did notice on the daily chart that there was a TLB and confirmation a 5 - 8 days ago. Are you trading weekly charts? B.
what is TLB
  • #407,850
  • Feb 5, 2015 8:26am Feb 5, 2015 8:26am
Quoting braintheboss
If D1 close like now, awesome double top...
so do you think it will go down?
  • #407,851
  • Feb 5, 2015 8:29am Feb 5, 2015 8:29am
Quoting braintheboss
If D1 close like now, awesome double top...
The top from 5 jan is not a top.
  • #407,852
  • Feb 5, 2015 8:31am Feb 5, 2015 8:31am
Hi danndc,

TL = Trend Line
TLB = Trend Line Break...

B.
  • #407,853
  • Feb 5, 2015 8:42am Feb 5, 2015 8:42am
Quoting Lavanda
{quote} The top from 5 jan is not a top.
Yes but in this range is strong resistance limit. And it have similar form like double top. Maybe wrong but if is rejected, price will down a lot.
Try don't lose pants never...
  • #407,854
  • Feb 5, 2015 8:43am Feb 5, 2015 8:43am
Quoting Bren0001
Hi danndc, TL = Trend Line TLB = Trend Line Break... B.
do you think it will go down from here?
  • #407,855
  • Feb 5, 2015 8:50am Feb 5, 2015 8:50am
No, danndc,

I think there is still more upside. At least another move or two.

B.
  • #407,856
  • Feb 5, 2015 8:51am Feb 5, 2015 8:51am
Quoting Bren0001
No, danndc, I think there is still more upside. At least another move or two. B.
why?
and what are your targets?

i think that descending TL will cap the move and start going down
  • #407,857
  • Feb 5, 2015 8:52am Feb 5, 2015 8:52am
danndc,
Price target zone 1.5340 - 1.5360.

B.
  • #407,858
  • Feb 5, 2015 8:57am Feb 5, 2015 8:57am
danndc,

You could be right about that descending TL capping it. I really have no strong feelings about that TL. (At the moment, we're not on speaking terms.) For now, as far as I can see, the ascending TL is in play.

B.
  • #407,859
  • Feb 5, 2015 8:58am Feb 5, 2015 8:58am
Quoting Bren0001
danndc, Price target zone 1.5340 - 1.5360. B.
it is just around TL

and do you think it will drop from there?
  • #407,860
  • Feb 5, 2015 9:06am Feb 5, 2015 9:06am
danndc,

There is a possibility of a retracement down at this level. Here's the thing. I watch how price action responds to levels. So until I see how it reacts around this level I wouldn't even hazard a guess. If you are trying to save your trade from 14 days ago, I couldn't advise to stay in the trades. If there is a move down, it might just be a short term retracement or it could be the move that saves the trade you entered 14 days ago. I don't have a clue at this point in time.

B.
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