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Cable Update (GBPUSD)

  • #417,701
  • Jul 29, 2015 9:27am Jul 29, 2015 9:27am
Quoting Std-uk
Pending order Short @ 1.5670
Yeah, GBP looks extremely overbought.
  • #417,702
  • Jul 29, 2015 9:32am Jul 29, 2015 9:32am
daily falling t/line now smashed thru....price 5689 at the present high - now above that last 4hr/daily swing hi zone to 5674... at the high challenging that former 4hr/daily swing hi to 5674 and this is part of the former daily swing lo zone (former support) that leads up to 5700/01 which is 61.8% of the recent main 5929-5328 fall. Daily R2 @ 5689, also 61.8% extension of yesterday's pip range, then daily R3 and weekly R2 5750/55 area leading up to a former daily swing hi zone to the 76.4% of 5929-5328 @ 5785. Offers reported at 5700-10 with stops above.

Will this former daily swing hi then minor swing lo zone to 5700 hold as resistance ?

Will the former triple top on 4hr/daily leading to it's highest point 5674 now act as support on any test from above it ?

best wishes.
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it's all gone a bit........
  • #417,703
  • Jul 29, 2015 9:37am Jul 29, 2015 9:37am
Quoting tashkent
{quote} it will look like this if you put a few stupid lines across the chart yes, i have been speculating it will go up since 1.55 and longs at pull backs is the way to go {image}
Thanks for clarifying. Any chance for a small retrace to 1.56?
  • #417,704
  • Jul 29, 2015 9:56am Jul 29, 2015 9:56am
Quoting nixdem
{quote} Thanks for clarifying. Any chance for a small retrace to 1.56?
today expect anything. fomc meeting will take place soon and the outcome may change the whole picture.
As Above, So Below
  • #417,705
  • Jul 29, 2015 9:56am Jul 29, 2015 9:56am
Quoting tashkent
clear, plain and simple. {image}
Go up to 1.58, form perfect gartley there...then sell from there on brexit news...Of course this is just 1 out ot thousands of scenarios..Anw i like ur chart, clean and self explanatory
  • #417,706
  • Jul 29, 2015 10:04am Jul 29, 2015 10:04am
so far only the big boy hunt SL
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  • #417,707
  • Jul 29, 2015 10:07am Jul 29, 2015 10:07am
Quoting Didgeridoo
{quote} Yeah, GBP looks extremely overbought.
overbought ?
my long term bias long. absolutely ...

GBP INDEX WEEKLY CHART
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  • #417,708
  • Jul 29, 2015 10:08am Jul 29, 2015 10:08am
looks like will be fun day, guys
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As Above, So Below
  • #417,709
  • Jul 29, 2015 10:25am Jul 29, 2015 10:25am
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just back from the dog walk and auto trade was 4 pips out ,
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  • #417,710
  • Jul 29, 2015 10:28am Jul 29, 2015 10:28am
Quoting elbert3
{image} just back from the dog walk and auto trade was 4 pips out ,{image}
your charts have reminded me, its time for spaghetti on toast
  • #417,711
  • Jul 29, 2015 10:31am Jul 29, 2015 10:31am
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this chart depends how you see it 61% hit , was it correction and now short , thats how i read it , hence the x on the 4 hour, if not then its going to 1.600 and above
  • #417,712
  • Jul 29, 2015 10:33am Jul 29, 2015 10:33am
Quoting mrfigure
{quote} your charts have reminded me, its time for spaghetti on toast
if you can make money out of that spaghetti , like that chart , save me some ,,lol
  • #417,713
  • Jul 29, 2015 10:37am Jul 29, 2015 10:37am
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some more spaghetti .just need a fried egg and toast
  • #417,714
  • Jul 29, 2015 10:45am Jul 29, 2015 10:45am
Quoting Polaris4dy
{quote} Go up to 1.58, form perfect gartley there...then sell from there on brexit news...Of course this is just 1 out ot thousands of scenarios..Anw i like ur chart, clean and self explanatory
i am very worried about the last hour move whatever was behind it. will wait how hourly and 4h candle will close.
As Above, So Below
  • #417,715
  • Jul 29, 2015 10:46am Jul 29, 2015 10:46am
Quoting elbert3
{quote} if you can make money out of that spaghetti , like that chart , save me some ,,lol
, i made my daily profit earlier today in the lead up to the u.s session
Attached Image
  • #417,716
  • Jul 29, 2015 11:34am Jul 29, 2015 11:34am
5670 rejected now market is waiting for FOMC targeting 100 pips range UP & DOWN

5710 UP
5500 DOWN
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  • #417,717
  • Jul 29, 2015 11:39am Jul 29, 2015 11:39am
Quoting mrfigure
{quote} , i made my daily profit earlier today in the lead up to the u.s session {image}
Yes i saw your chart well done , so where now , regards just hit that tl that i put up tp,, short order 5600 , and lets see 5633 area to short also,, no longs for now until i see whats going on, gl E
  • #417,718
  • Jul 29, 2015 11:42am Jul 29, 2015 11:42am
Quoting tashkent
{quote} i am very worried about the last hour move whatever was behind it. will wait how hourly and 4h candle will close.
Yeah mate, will watch for fomc as well...at least that should determine direction for the next couple of weeks
  • #417,719
  • Jul 29, 2015 12:05pm Jul 29, 2015 12:05pm
We are at an interesting level now, being structure support (15m chart) 15,620 area. You know what its like, we will likely see a spike in both directions, but this pair has been in a strong uptrend (again 15m chart) since late march early april, making higher lows and higher highs, so when the spike settles I see no reason why the pair should reverse given the good GBP data releases, so I would expect the trend to continue. Currently considering a long @ 15,620.

If we did dip, It doesn't change the positive uk data, so I would buy any dip that reached the 15,580 area
  • #417,720
  • Jul 29, 2015 12:09pm Jul 29, 2015 12:09pm
If thats not heading south then i shall retire - well pretty much am these days lol but that surely has to be a confuscious move - got u thinking thats the london fix move right which one high or low and so its south or why shortly are they going to be buying back what they sold to take it even lower .
COOL and wearing em for sure
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