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Cable Update (GBPUSD)

  • #414,961
  • May 12, 2015 6:25am May 12, 2015 6:25am
Quoting shellsnail
From experience, the best trade here is to wait for a significant retrace and then go long with a trailing stop for the rest of the day.
I'm getting ready to buy the next dip/new low.
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  • #414,962
  • May 12, 2015 6:26am May 12, 2015 6:26am
Quoting shellsnail
{quote} I'm getting ready to buy the next dip/new low.
where you you think??regards E
  • #414,963
  • May 12, 2015 6:27am May 12, 2015 6:27am
Quoting elbert3
{quote} where you you think??regards E
below 1.566 first entry (1/3 size) on high volume break to downside. initial SL around 17 pips. Scale in (2/3 size) when momentum reverses. no target, jumping stop 20 pip.

However, if price starts spiking up from here immediately I'd go short.
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  • #414,964
  • May 12, 2015 6:28am May 12, 2015 6:28am
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.png Size: 51 KB

I devised this chart before the start of the week. In my opinion we need to wait now to see if the 1.56 level holds, if it doesnt we might be in for a suprise revision of GBP downwards till 1.52.
And a break below 1.505-1.507 would keep the long term down trend in continuity.
But thats just my opinion.
  • #414,965
  • May 12, 2015 6:36am May 12, 2015 6:36am
Quoting shellsnail
{quote} below 1.566 first entry (1/3 size) on high volume break to downside. Initial sl around 17 pips. Scale in (2/3 size) when momentum reverses. No target, jumping stop 20 pip. However, if price starts spiking up from here immediately i'd go short.
in at 5683 looking at 5588??? But i think i will be taken out if not i will add more lots, it is looking like h/s on 5 min just awaiting the rejection
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 31 KB
  • #414,966
  • May 12, 2015 6:37am May 12, 2015 6:37am
Quoting elbert3
{quote} in at 5683 looking at 5588??? But i think i will be taken out if not i will add more lots
hmm I just went short exactly 5683 lol (1/2 size) yes. Looking for 60 pip move actually. 1.562

good chance may be taken out... but have to trade it following my system.

Regardless, I would need to see a bigger retrace > 40 pips from here before longs are admissible again.
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  • #414,967
  • May 12, 2015 6:46am May 12, 2015 6:46am
Quoting shellsnail
{quote} below 1.566 first entry (1/3 size) on high volume break to downside. initial SL around 17 pips. Scale in (2/3 size) when momentum reverses. no target, jumping stop 20 pip. However, if price starts spiking up from here immediately I'd go short.
your number i have that about tl confirm breakout, ?? so if this goes that's a watch area for me ,lets see gl..
  • #414,968
  • May 12, 2015 7:41am May 12, 2015 7:41am
taken a short here. looks weak. not able to capitalize on the move till now. I think some serious selling is coming here or markets have got the hint abt the inflation report
  • #414,969
  • May 12, 2015 7:52am May 12, 2015 7:52am
Buy Stopped 'n looking for again Buy
Attached Image
If you have poor psychology you will struggle
  • #414,970
  • May 12, 2015 8:05am May 12, 2015 8:05am
Quoting Dano12
is slowly getting ready to pull back
:nerd:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H1........gif Size: 40 KB
  • #414,971
  • May 12, 2015 8:19am May 12, 2015 8:19am
Quoting Dano12
is slowly getting ready to pull back
Major pull-back towards 1.5350 gets triggered only if the pair drops back below 1.5550.
Till then seems to make an attempt to test 1.5800 mark resistance in a day or two...
  • #414,972
  • May 12, 2015 8:25am May 12, 2015 8:25am
Quoting HareshBM
{quote} Major pull-back towards 1.5350 gets triggered only if the pair drops back below 1.5550. Till then seems to make an attempt to test 1.5800 mark resistance in a day or two...
:nerd:We see how forgeting correction, and that is the end of 5
Attached Image
  • #414,973
  • May 12, 2015 8:38am May 12, 2015 8:38am
Quoting Dano12
{quote} :nerd:We see how forgeting correction, and that is the end of 5 {image}
5640 looks like the end unless it goes into sell the rise mode , like here 5678 sell below 5640, if so should see 5600
  • #414,974
  • May 12, 2015 8:38am May 12, 2015 8:38am
Still closely watching this level and staying out before entering a trade.
  • #414,975
  • May 12, 2015 8:56am May 12, 2015 8:56am
Quoting elbert3
{quote} 5640 looks like the end unless it goes into sell the rise mode , like here 5678 sell below 5640, if so should see 5600
if the 5 we will see much lower levels
  • #414,976
  • May 12, 2015 9:10am May 12, 2015 9:10am
Quoting Dano12
{quote} if the 5 we will see much lower levels
Attached Image (click to enlarge)
Click to Enlarge Name: 15.png Size: 30 KB
watching trade around the blue lie and ref back to the 5 min, need ti stay below,, could take a trade here but i think wait a little longer
  • #414,977
  • May 12, 2015 3:56pm May 12, 2015 3:56pm
omg i went out with a sell below 5640 and its gone back up,?????does not look good to long at this time ???
  • #414,978
  • May 12, 2015 4:42pm May 12, 2015 4:42pm
Quoting Kajos2250
{quote} GU H8 GMT+2 after some intrested volatility i hope the correction is over showed by bullish pinbar and the engulfing at MPP ~5138... buy limit .5150, lets see next days... ~5580 is waiting Good luck! {image}
GU H8 GMT+2

not enogh bears!
bullish belt hold is insideing.
buy limit .5625 next book price ~5800....

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH8.png Size: 46 KB
Anything is math!
  • #414,979
  • May 12, 2015 4:49pm May 12, 2015 4:49pm
Quoting Dano12
{quote} :nerd:We see how forgeting correction, and that is the end of 5 {image}
higher degree (1) ???
Anything is math!
  • #414,980
  • May 12, 2015 5:22pm May 12, 2015 5:22pm
Quoting Kajos2250
{quote} higher degree (1) ???
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