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Cable Update (GBPUSD)

  • #417,361
  • Jul 21, 2015 6:51pm Jul 21, 2015 6:51pm
Quoting elbert3
{quote} broke 4 hour support now will it hold and become resistance
as long as s>m and the price above m which is currently 1.55250, i can hold the positions and try to buy in scalping mode... i try to stick to the rules of the trading system... ;]
forex... like it, trade it and manage it... get your profit...!!!
  • #417,362
  • Jul 21, 2015 8:26pm Jul 21, 2015 8:26pm
i think it has more momentum to the downside...looking to short at 1.5542.
use leverage with caution...
  • #417,363
  • Jul 21, 2015 8:41pm Jul 21, 2015 8:41pm
Can't wait laughing to bank..
  • #417,364
  • Jul 21, 2015 8:59pm Jul 21, 2015 8:59pm
alright... stay calm..
use leverage with caution...
  • #417,365
  • Jul 21, 2015 9:18pm Jul 21, 2015 9:18pm
Quoting jsshuai
i think it has more momentum to the downside...looking to short at 1.5542.
same order there. that should open big downside
  • #417,366
  • Jul 21, 2015 9:19pm Jul 21, 2015 9:19pm
Quoting Darkforce
Pending breakout for cable, bias is to the upside. Target 1.5743 first, then 1.59, if UK hiking become a real deal with some policy move like the rate decision voting change, then I wouldn't be surprise if we have a run for 1.62. {image}
so you do contrarian buys is it??? where do you see a buy here?? small fakeouts are sold
  • #417,367
  • Jul 21, 2015 10:05pm Jul 21, 2015 10:05pm
Quoting giveachance
{quote} so you do contrarian buys is it??? where do you see a buy here?? small fakeouts are sold
That "small fakeout" is after hours so basically it's range bounding, agree that 6 red daily candle looks bearish, but in the same time I think there's a chance that we are seeing the forming of a bull flag or pennant.
  • #417,368
  • Jul 21, 2015 10:37pm Jul 21, 2015 10:37pm
Quoting Darkforce
{quote} That "small fakeout" is after hours so basically it's range bounding, agree that 6 red daily candle looks bearish, but in the same time I think there's a chance that we are seeing the forming of a bull flag or pennant.
Your analysis is superb! (Only because it jibes perfectly with mine...).
There is a rather large rising channel on the Daily that may be too big to be noticed. The first stop to the upside is the 1.60/.61 area. Carney will prolly start jawboning pretty heavily at that point.

What to look for now is a sudden reversal to double-bottom the bottom of the range.

  • #417,369
  • Jul 21, 2015 10:49pm Jul 21, 2015 10:49pm
4 days of bearish candles were not a strong bear. U could see its a tight battle between bull and bear.

And yesterday candle, the bear gave up. All to the north. IMHO.
  • #417,370
  • Jul 22, 2015 12:11am Jul 22, 2015 12:11am
Attached Image (click to enlarge)
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  • #417,371
  • Jul 22, 2015 1:18am Jul 22, 2015 1:18am
Quoting Darkforce
Pending breakout for cable, bias is to the upside. Target 1.5743 first, then 1.59, if UK hiking become a real deal with some policy move like the rate decision voting change, then I wouldn't be surprise if we have a run for 1.62. {image}
A lot of hurdles to overcome before reaching those targets, but we are getting on the way.

I need some sleep, so not gonna be watching MPC voting 430GMT, hope I wake up and see some surprise.

Good luck to all.
Attached Image (click to enlarge)
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  • #417,372
  • Jul 22, 2015 1:20am Jul 22, 2015 1:20am
update & intraday suggestion
Attached Image (click to enlarge)
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  • #417,373
  • Jul 22, 2015 1:25am Jul 22, 2015 1:25am
Thats why we shall avoid using small timeframe because we will miss the bigger picture.

Use small timeframe for entry and exit only. Bigger timeframe to analyze the trend.
  • #417,374
  • Jul 22, 2015 1:32am Jul 22, 2015 1:32am
Quoting arinforex
Thats why we shall avoid using small timeframe because we will miss the bigger picture. Use small timeframe for entry and exit only. Bigger timeframe to analyze the trend.
BUY
1.55711
Stake
Stop
([COLOR=#EC174A !important]–[/color]/[COLOR=#0076C0 !important]–[/color])
Guaranteed Stop
Set Trailing Stop
Limit
([COLOR=#EC174A !important]1.54193[/color]/[COLOR=#0076C0 !important]1.56211[/color])
Hedging
Margin required for trade:
735.00 GBP


Thank you
  • #417,375
  • Jul 22, 2015 1:33am Jul 22, 2015 1:33am
Quoting Darkforce
{quote} A lot of hurdles to overcome before reaching those targets, but we are getting on the way. I need some sleep, so not gonna be watching MPC voting 430GMT, hope I wake up and see some surprise. Good luck to all. {image}
Last one tonight.

Since the jump appears to be a reaction to Miles' comments which is sort of a repeat of one that he made before, this suggest that the price action maybe pre-run for some surprise in MPC voting, should there be no change then perhaps cable will come down and look for lower level for support.

Tech wise, 1.5642 and 1.5664 are well exposed, so a test of this zone will point the direction to us.
  • #417,376
  • Jul 22, 2015 1:34am Jul 22, 2015 1:34am
Quoting elbert3
{quote} BUY 1.55711 Stake Stop (/) Guaranteed Stop Set Trailing Stop Limit (1.54193/1.56211) Hedging Margin required for trade: 735.00 GBP Thank you
  • #417,377
  • Jul 22, 2015 1:36am Jul 22, 2015 1:36am
SELL
1.56155
Stake
Stop
([COLOR=#EC174A !important]–[/color]/[COLOR=#0076C0 !important]–[/color])
Guaranteed Stop
Set Trailing Stop
Limit
([COLOR=#EC174A !important]1.56035[/color]/[COLOR=#0076C0 !important]1.56293[/color])P/L £[COLOR=#0076C0 !important]252.00[/color]

sl open it might see 5625
  • #417,378
  • Jul 22, 2015 1:39am Jul 22, 2015 1:39am
Quoting Darkforce
{quote}
had to play the break out , see price running up that 1st touch tl on the bottom
Attached Image (click to enlarge)
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  • #417,379
  • Jul 22, 2015 1:50am Jul 22, 2015 1:50am
What caused this spike?? This pair is a mess for the last weeks really.
  • #417,380
  • Jul 22, 2015 1:55am Jul 22, 2015 1:55am
Attached Image (click to enlarge)
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watch s/r i have 5603 ish break next the should see 5700 , fail on this dt at this time 5559
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