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Cable Update (GBPUSD)

  • #410,921
  • Mar 5, 2015 10:33am Mar 5, 2015 10:33am
Quoting Zappa
Still leaning towards a move to 1.5350, but if 1.5205 breaks I could see it dropping another 100 pips from there.

Think similar.. looking for 15332 then down towards 151 possibly lower towards 15008 but will be looking for confirmation around 151 for long term buying and building a position targeting 158 and higher from there
  • #410,922
  • Mar 5, 2015 10:45am Mar 5, 2015 10:45am
Quoting RussJ
{quote} Think similar.. looking for 15332 then down towards 151 possibly lower towards 15008 but will be looking for confirmation around 151 for long term buying and building a position targeting 158 and higher from there
Yep, we're on the same page. Always good to TRY and be 3 steps ahead, even if our first step turns out to be a trap!
  • #410,923
  • Mar 5, 2015 1:39pm Mar 5, 2015 1:39pm
Hmm...starting to get a strong feeling that we have hit THE bottom. It turned at a very solid spot and I'm sure fooled a lot of people into prematurely shorting a breakdown. Then it bottomed out and played dead for an hour and a half. Now its starting to pick up steam as volatility should be slowing down at this time of day.

When I forecasted a big drop from the highs at 1.5550, I envisioned a fast, powerful drop that would fizzle out near 1.5050. That is not how it dropped, however. Its been a slow, steady, and EASY drop. The kind of move that doesn't go too far before it gets completely retraced.

I don't see any real obvious big buyers down here, but there appeared to be some solid effort by bears to push this lower today and their orders were eaten up like a fat guy catching popcorn with his mouth.

I think we at another major bottom here, folks!
  • #410,924
  • Mar 5, 2015 4:21pm Mar 5, 2015 4:21pm
According to day trend line it should retrace and stay at 1.5050 to 1.5000 area or return back to 1.5550 upside in next week... today's unemployment rate and NFP can move only 200 pips upside that is 1.5450 from current market place and everyone's "gap" is also there

i don't believing in gap filling strategy but i don't know why it is always happening

last week was worst week due to not enough price action, this is also bad week for me due to sudden sharp down....

https://charts.mql5.com/7/184/gbpusd...-limited-2.png
  • #410,925
  • Mar 5, 2015 4:38pm Mar 5, 2015 4:38pm
I hope price action started after 50% Fibonacci retrace

https://charts.mql5.com/7/184/gbpusd...-limited-3.png
  • #410,926
  • Mar 5, 2015 4:43pm Mar 5, 2015 4:43pm
GBPUSD - possible 4h scenario
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  • #410,927
  • Mar 5, 2015 4:58pm Mar 5, 2015 4:58pm
Trade idea.
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  • #410,928
  • Mar 5, 2015 5:26pm Mar 5, 2015 5:26pm
Quoting Lamira
{quote} Ok ) so what do you see ?
On the 4hr I can see it will challenge the 200 sma (1) again. If it succeeds, then there is the 55DMA (55 daily sma) (2) and 200 ema of 4hr (3) to range between (1) & (3).

On the daily it has broken the 34 ema ribbon down as of Wednesday. Will wait a re-check of it from down (1.5280 lower -1.5330 middle) and if it continues the trend then first (x) target and then if support taken the 2nd (x). Above (-) the short is over for me and it can go to 1.58 or where the year started.

At any of these points I am going down to 1h / 5m to pick a side.
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  • #410,929
  • Mar 5, 2015 7:28pm Mar 5, 2015 7:28pm
See the chart and news prediction, look like It's done and will go to the North... 1st target is 1.5360 if can break 1.5390 it's will continue to 1.5530..
Let's see what NFP says..
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Manage equity will always make profit...
  • #410,930
  • Mar 5, 2015 8:47pm Mar 5, 2015 8:47pm
Quoting Zappa
Hmm...starting to get a strong feeling that we have hit THE bottom. It turned at a very solid spot and I'm sure fooled a lot of people into prematurely shorting a breakdown. Then it bottomed out and played dead for an hour and a half. Now its starting to pick up steam as volatility should be slowing down at this time of day. When I forecasted a big drop from the highs at 1.5550, I envisioned a fast, powerful drop that would fizzle out near 1.5050. That is not how it dropped, however. Its been a slow, steady, and EASY drop. The kind of move that...
Should see it bottom towards end of the month although wouldn't be surprised too see 151 next week which could be the bottom
  • #410,931
  • Mar 5, 2015 9:11pm Mar 5, 2015 9:11pm
Quoting Zappa
Hmm...starting to get a strong feeling that we have hit THE bottom. It turned at a very solid spot and I'm sure fooled a lot of people into prematurely shorting a breakdown. Then it bottomed out and played dead for an hour and a half. Now its starting to pick up steam as volatility should be slowing down at this time of day. When I forecasted a big drop from the highs at 1.5550, (I envisioned a fast, powerful drop) that would fizzle out near 1.5050. That is not how it dropped, however. Its been a slow, steady, and EASY drop. The kind...
At the 1.5550 area, we were sitting above clear strong support at 5346, so the fast drop was not likely to occur until the bears broke that area which is precisely what happened with the powerful bearish bar on Wednesday.

I'm thinking a retrace (maybe) to the breakout line then more down in line with the weekly price structure off 5550 area resistance.

Let's see how she goes
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Come with me if you want to live....
  • #410,932
  • Mar 5, 2015 10:01pm Mar 5, 2015 10:01pm
fib levels show good S/R confluence.
I'm curious about the 23.6 fib/breakout retest confluence area
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Come with me if you want to live....
  • #410,933
  • Mar 5, 2015 10:15pm Mar 5, 2015 10:15pm
Quoting Zappa
Hmm...starting to get a strong feeling that we have hit THE bottom. It turned at a very solid spot and I'm sure fooled a lot of people into prematurely shorting a breakdown. Then it bottomed out and played dead for an hour and a half. Now its starting to pick up steam as volatility should be slowing down at this time of day. When I forecasted a big drop from the highs at 1.5550, I envisioned a fast, powerful drop that would fizzle out near 1.5050. That is not how it dropped, however. Its been a slow, steady, and EASY drop. The kind of move...
Yes indeed it has

Been too focused on bearish view to notice it.
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Come with me if you want to live....
  • #410,934
  • Mar 5, 2015 10:36pm Mar 5, 2015 10:36pm
Actually, an awesome trading range and alternative breakout retest scenario
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Come with me if you want to live....
  • #410,935
  • Mar 5, 2015 11:02pm Mar 5, 2015 11:02pm
Quoting jasakreatif
i have no 10 billions to pump the price up , so i have short {image}
closed short , took long

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  • #410,936
  • Mar 5, 2015 11:04pm Mar 5, 2015 11:04pm
I am not going lonf because I trade h4 and today is NFP, but I see your point (here a weekly chart)

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  • #410,937
  • Mar 5, 2015 11:42pm Mar 5, 2015 11:42pm
Quoting Ill-b-back
{quote} Yes indeed it has Been too focused on bearish view to notice it. {image}

Confluence and the higher Fractal at 1.5327/30.. expecting retrace to there then short too 151 my opinion... but would like to see 15330 then 15160 today happen
  • #410,938
  • Mar 6, 2015 12:04am Mar 6, 2015 12:04am
Quoting jasakreatif
{quote} closed short , took long {image}
Trading levels when we so close to frankfurt and london market openings. Best!
  • #410,939
  • Mar 6, 2015 12:14am Mar 6, 2015 12:14am
Quoting RussJ
{quote} Confluence and the higher Fractal at 1.5327/30.. expecting retrace to there then short too 151 my opinion... but would like to see 15330 then 15160 today happen
Yeah, I like the way the 4hr 200 and 55 ema's coming together at the fib and resistance area
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Come with me if you want to live....
  • #410,940
  • Mar 6, 2015 1:43am Mar 6, 2015 1:43am
Quoting Ill-b-back
{quote} Yeah, I like the way the 4hr 200 and 55 ema's coming together at the fib and resistance area {image}
Morning IB, yes i see more of the same,, good lines you have there,lol bounce here then test 5300 area if 527 can be taken ,but that looks to be strong for now fail the red line then 5189 arrea 61% fib on the weekly still cant believe this is going down as much UK has been showing a good recovery .hey ho go with the flow,,lol Regards B
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