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Cable Update (GBPUSD)

  • #407,981
  • Feb 7, 2015 5:18pm Feb 7, 2015 5:18pm
Possible move up to 1.55 ?
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  • #407,982
  • Feb 7, 2015 7:15pm Feb 7, 2015 7:15pm
Quoting Idkurv
{quote} I think in order to be bullish, GU has to break above upper weekly channel (1.53500). At the moment GU got hammered at upper weekly channel. Now retesting 1.52500 which is previous daily resistance turn to support right now. Just my 2 cents.
Exactly, the 4 Week high breakout is 1.5312 - I will watch for a close Daily close above that, then read the PA / candlesticks

The ADR is 131, so no problem from 1.525 - there are 5 days in a week

It takes a lot for me to IGNORE you, but you can try.
  • #407,983
  • Feb 7, 2015 11:37pm Feb 7, 2015 11:37pm
GBP/USD will go dipper to 1.5150 and then 1.5030, so ready short from Monday.
  • #407,984
  • Feb 7, 2015 11:48pm Feb 7, 2015 11:48pm
Quoting Erebus
{quote} Exactly, the 4 Week high breakout is 1.5312 - I will watch for a close Daily close above that, then read the PA / candlesticks The ADR is 131, so no problem from 1.525 - there are 5 days in a week
how can 15250 be a support when it has already closed below it? daily and weekly
  • #407,985
  • Feb 7, 2015 11:49pm Feb 7, 2015 11:49pm
Quoting a16908
GBP/USD will go dipper to 1.5150 and then 1.5030, so ready short from Monday.
maybe even lower?? opinion?
  • #407,986
  • Feb 7, 2015 11:53pm Feb 7, 2015 11:53pm
Gbp will fall till 1.4790.
Attached Image (click to enlarge)
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EAGLE EYE
  • #407,987
  • Feb 8, 2015 12:13am Feb 8, 2015 12:13am
Quoting a16908
GBP/USD will go dipper to 1.5150 and then 1.5030, so ready short from Monday.
I don't agree with your comment about GBP doing "diaper", imo this pair is in reverse trend mode.
  • #407,988
  • Feb 8, 2015 12:30am Feb 8, 2015 12:30am
Quoting danndc
{quote} how can 15250 be a support when it has already closed below it? daily and weekly
Generally speaking, what I read about Support & Resistance - it's not an exact number, it's a ZONE

Anyway, I'm not trading S&R, I'm trading breakouts

Maybe try the person that I replied to

It takes a lot for me to IGNORE you, but you can try.
  • #407,989
  • Feb 8, 2015 2:52am Feb 8, 2015 2:52am
Sterling had appeared to carve out a head and shoulders bottom pattern. The neckline came in just below $1.5200 when it was violated in the middle of last week, and sterling accelerated to $1.5350 before running out of steam. The pattern projects toward $1.5450. The neckline now comes in near $1.5185, and it is not unusual to retest the neckline after violating it. However, given the retracement objectives, the loss of the neckline would signal the downtrend has resumed, and losses to below $1.4950 are likely. The poor close before the weekend leaves the bottom pickers vulnerable next week despite the fact that all three PMIs were stronger than expected, suggesting improved momentum at the start of Q1.

from marctomarket.com



that's what i was thinking too
  • #407,990
  • Feb 8, 2015 3:29am Feb 8, 2015 3:29am
Quoting srt
Possible move up to 1.55 ? {image} {image}
Absolutely.
I'd say "probable" move to 1.55.
Putting some shorts in that area for next week.
Come with me if you want to live....
  • #407,991
  • Feb 8, 2015 5:07am Feb 8, 2015 5:07am
Quoting Ill-b-back
{quote} Absolutely. I'd say "probable" move to 1.55. Putting some shorts in that area for next week.
what are the facts that could move GBP up? you all guys are saying that it will move up but I don't see any catalist for thiscan you tell me what.you see?
  • #407,992
  • Feb 8, 2015 5:21am Feb 8, 2015 5:21am
Quoting danndc
{quote} what are the facts that could move GBP up? you all guys are saying that it will move up but I don't see any catalist for thiscan you tell me what.you see?
Technical facts. HH and lows held daily. But 5300 has to be taken first.
  • #407,993
  • Feb 8, 2015 5:35am Feb 8, 2015 5:35am
Quoting janpec1000
{quote} Technical facts. HH and lows held daily. But 5300 has to be taken first.
Technical facts are relative. Last D1 candle can be begin of new fall. Not first time happens. Even if price fullfil shadow of last candle ( W1 ) we can see a possible pinbar if price don't break up ( D1 and W1 ). At this moment all is possible.
Try don't lose pants never...
  • #407,994
  • Feb 8, 2015 6:01am Feb 8, 2015 6:01am
Quoting Erebus
{quote} Generally speaking, what I read about Support & Resistance - it's not an exact number, it's a ZONE Anyway, I'm not trading S&R, I'm trading breakouts Maybe try the person that I replied to
Yes, S & R is a zone for me, I mentioned 1.525 just for simplicity.

I think GU will bounce up, maybe retesting 1.53? I do not know.
I seek to short, my tf is h4, my dynamic tp is 1.515, tp2 1.51.

will watch 1.525 - 1.535 closely.
  • #407,995
  • Feb 8, 2015 6:09am Feb 8, 2015 6:09am
Quoting Erebus
{quote} Exactly, the 4 Week high breakout is 1.5312 - I will watch for a close Daily close above that, then read the PA / candlesticks The ADR is 131, so no problem from 1.525 - there are 5 days in a week
Cool! I will too.
I was expecting GU bullish too early, but I think this time is pretty good.
2 weekly close higher so far.
hope to get in the right train in the right time.
  • #407,996
  • Feb 8, 2015 6:16am Feb 8, 2015 6:16am
Quoting braintheboss
{quote} Technical facts are relative. Last D1 candle can be begin of new fall. Not first time happens. Even if price fullfil shadow of last candle ( W1 ) we can see a possible pinbar if price don't break up ( D1 and W1 ). At this moment all is possible.
i think this time will be a bull trap in order to get lots of bull's SL

  • #407,997
  • Feb 8, 2015 6:24am Feb 8, 2015 6:24am
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week depends on your view , is it an inverted hammer ,ie end of trend??? 1 we could see 1.548 area is not its possible to see 1.430 area . if we are in a correction then even 1.548 comes into play at the 23%
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easy rejection off tl or break above, one can draw another tl just below the top tl, or it will come down to the 10/20 emas then go up.5160 area
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last week 5220 played a hand in s/r emas are pointing down but 100 in blue and 200 in green are there as above on the 1 hour that 5160 area is where the 200 is now ?? not an easy one to call on a sunday .friday USA throw a big green number out,, will it matter ??? last week GB throw good numbers out too,,
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this is kick off time chart , tonight might give a picture of where the end wanted to be on the friday close .. thats me,, Sunday lunch calls, have a good week .
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eur might go here as it pulled out of the trend it was trying to start ??
  • #407,998
  • Feb 8, 2015 7:08am Feb 8, 2015 7:08am
Quoting elbert3
{image} week depends on your view , is it an inverted hammer ,ie end of trend??? 1 we could see 1.548 area is not its possible to see 1.430 area . if we are in a correction then even 1.548 comes into play at the 23%{image} easy rejection off tl or break above, one can draw another tl just below the top tl, or it will come down to the 10/20 emas then go up.5160 area {image} last week 5220 played a hand in s/r emas are pointing down but 100 in blue and 200 in green are there as above on the 1 hour that 5160 area is where the 200 is now ?? not an easy...
Hey Batman,

Still valid

http://www.forexfactory.com/showthre...22#post8045622

Just looking for clues....
Attached Image (click to enlarge)
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #407,999
  • Feb 8, 2015 7:34am Feb 8, 2015 7:34am
Quoting Mr. Scott
{quote} Hey Batman, Still valid http://www.forexfactory.com/showthre...22#post8045622 Just looking for clues.... {image}
Hi Mr Scott,

Nice pattern there!

Just wanna check with you, since the B point is at the 786 retracement, would that be a potential butterfly pattern which would normally be completed around the 127? Would like to understand why the projection to 161 instead.

Thanks!
  • #408,000
  • Feb 8, 2015 7:46am Feb 8, 2015 7:46am
Quoting aky
{quote} Hi Mr Scott, Nice pattern there! Just wanna check with you, since the B point is at the 786 retracement, would that be a potential butterfly pattern which would normally be completed around the 127? Would like to understand why the projection to 161 instead. Thanks!
Hi Aky,

Yes, had nice butterfly at 1.27 that worked out almost to the pip on NFP day. Just too pretty as it had precise retracement and ab cd.

I draw the 161.8 as it is potential target and another short opportunity. Different rules for different people but to me, both can be valid if they appear in the right place, have appropriate structure, and we get the correct reaction. So, it is still a place of interest.
The world you desire can be won. It exists.. it is real.. it is possible..
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