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Cable Update (GBPUSD)

  • #407,861
  • Edited 7:58am Feb 5, 2015 7:40am | Edited 7:58am
mistaken forum .gu reached critical level near 5318 breaking point a bull signal but at the channel top also. so break & hold will be bull signal.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #407,862
  • Feb 5, 2015 8:06am Feb 5, 2015 8:06am
fixing 6 pm London time GBP USD pushed down, so it's time to test support
  • #407,863
  • Feb 5, 2015 8:49am Feb 5, 2015 8:49am
Quoting Bren0001
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.

do you think it could go down as trend continuation?

you just talk as it had formed a bottom and a trend reversal, but i think that FED has still lot more to do and GBP will be capped below discending TL.

i think that tomorrow NFP will be good, since today's usa data were good, and the pair will start trading down again
  • #407,864
  • Feb 5, 2015 9:27am Feb 5, 2015 9:27am
Hi danndc,

Sorry, I stepped out to go workout. Aerobics and high reps on the machine. "Do I think the GBP could go down as a trend continuation?" Absolutely sir, there is that possibility. I don't trade the longer timeframes that you seem to be trading. However, as I mentioned earlier, on the daily chart, between 5 - 8 days ago, a down trendline on the daily chart was broken (TLB-TrendLine Break), and was confirmed. Price has been moving up ever since. Do I think this is a major reversal of the GBP/USD down trend? I don't know.

If you thought I was taking a position saying that the down trend for the GBP is over I haven't. I just trading what the charts are showing, I just trade what I see on the chart. I don't and for the last three days, price is going up. I trade a shorter timeframe than you, and when the charts say up, I'm in a position going long. What happens next week, next month, or next year doesn't affect the trade going on today.

You may very well be right in saying that the FED has more to do with capping the GBP on the morrow. That's fine with me. If the trend changes, I'll be trading short. I try to trade in the direction of the trend for the day. I hope this helps. Enjoy your day. -5 F outside.

B.
  • #407,865
  • Feb 5, 2015 9:33am Feb 5, 2015 9:33am
We have 1 month consolidation with wide range. i think next down move will be strong. And it's clear usdx have very clean way for up if break this level...
Try don't lose pants never...
  • #407,866
  • Feb 5, 2015 9:33am Feb 5, 2015 9:33am
Quoting Bren0001
Hi danndc, Sorry, I stepped out to go workout. Aerobics and high reps on the machine. "Do I think the GBP could go down as a trend continuation?" Absolutely sir, there is that possibility. I don't trade the longer timeframes that you seem to be trading. However, as I mentioned earlier, on the daily chart, between 5 - 8 days ago, a down trendline on the daily chart was broken (TLB-TrendLine Break), and was confirmed. Price has been moving up ever since. Do I think this is a major reversal of the GBP/USD down trend? I don't know. If you thought I...

thanks for replying, i just say so cause i got the LS around 1.5480/1.55 what do you think about that?
  • #407,867
  • Feb 5, 2015 9:36am Feb 5, 2015 9:36am
LS?
  • #407,868
  • Feb 5, 2015 10:06am Feb 5, 2015 10:06am
Quoting Bren0001
LS?
SL sorry
  • #407,869
  • Feb 5, 2015 10:15am Feb 5, 2015 10:15am
What's the consensus on whether or not we'll fully close the gap before NFP? At this rate it's looking like yes.
  • #407,870
  • Feb 5, 2015 10:21am Feb 5, 2015 10:21am
danndc

The GBP/USD has been in a long down trend. If it has a significant retracement up say, 30 % of the move down on the daily chart, I think your SL will be taken out. May I ask why you are trading on such a long time frame? Is it time constraints or some other factor?

B.
  • #407,871
  • Feb 5, 2015 10:57am Feb 5, 2015 10:57am
Quoting braintheboss
{quote} 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.
Retail's gap closed.
  • #407,872
  • Feb 5, 2015 11:00am Feb 5, 2015 11:00am
Quoting Lavanda
{quote} Retail's gap closed.
At this level was the most easy and logical movement But now we will see if price start to down
Try don't lose pants never...
  • #407,873
  • Feb 5, 2015 11:05am Feb 5, 2015 11:05am
Quoting braintheboss
{quote} At this level was the most easy and logical movement But now we will see if price start to down
what is your thought?
  • #407,874
  • Feb 5, 2015 11:12am Feb 5, 2015 11:12am
Quoting braintheboss
{quote} At this level was the most easy and logical movement But now we will see if price start to down
Short at 53.40. Gap closed during last minutes of US session. S/l at be. I try it.
  • #407,875
  • Feb 5, 2015 11:22am Feb 5, 2015 11:22am
Quoting danndc
{quote} what is your thought?
If i remember well, yesterday i said D1 pinbar will be fullfil and if after price break up more logical movement will be close gap. But problem in forex is all can change in a minute and today i thinked maybe price swing at 5230/50. It's evident today i was wrong . Sometimes first option you think is the best xD. But now is clear price will get a breath doing a retrace.

PS: It's learning process...

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Try don't lose pants never...
  • #407,876
  • Feb 5, 2015 11:24am Feb 5, 2015 11:24am
Quoting braintheboss
{quote} If i remember well, yesterday i said D1 pinbar will be fullfil and if after price break up more logical movement will be close gap. But problem in forex is all can change in a minute and today i thinked maybe price swing at 5230/50. It's evident today i was wrong . Sometimes first option you think is the best xD. But now is clear price will get a breath doing a retrace. PS: It's learning process...
do you think it could reach 1.50 or less?
  • #407,877
  • Feb 5, 2015 11:26am Feb 5, 2015 11:26am
Could slap myself for getting out of longs + 2 pips when this was still at 1.50 It was looking very, very bearish. Now the trendline is in danger. It is either rejected at 1.54xx or is likely to continue north in my view.
Fix up, trade sharp ...
  • #407,878
  • Feb 5, 2015 11:29am Feb 5, 2015 11:29am
Quoting danndc
{quote} do you think it could reach 1.50 or less?
Depend of EURUSD. People said will have parity. Then if euro down, gbp down. But is not fast process and not everythings are sure in forex. Really i don't know at this moment.
Try don't lose pants never...
  • #407,879
  • Feb 5, 2015 12:40pm Feb 5, 2015 12:40pm
guys please support alpari client to get back their corn

need pertition signed:- http://4fx.club/petition/
  • #407,880
  • Feb 5, 2015 12:46pm Feb 5, 2015 12:46pm
just back and fu,,,,k me ,, just with some people could not wait to get away for a snnneeeky look ,,back soon,, hope you let the profits run lol
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