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Cable Update (GBPUSD)

  • #422,021
  • Jan 7, 2016 9:22am Jan 7, 2016 9:22am
Maybe time to buy pound for few hundred pips
You cannot learn better without losing
  • #422,022
  • Jan 7, 2016 9:25am Jan 7, 2016 9:25am
Quoting forexings
Maybe time to buy pound for few hundred pips
Its looking closer yes.
  • #422,023
  • Jan 7, 2016 9:26am Jan 7, 2016 9:26am
My 4 hr view
Attached Image (click to enlarge)
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  • #422,024
  • Jan 7, 2016 10:03am Jan 7, 2016 10:03am
some body tell me what they have on there 4 hour chart, candle ??
  • #422,025
  • Edited 12:05pm Jan 7, 2016 10:32am | Edited 12:05pm
Ouch! I took a break an this happened, 14pips under my eyes.
Anyway +38pips
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EDIT:
After that missed trade there was a last one, total +44pips
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  • #422,026
  • Jan 7, 2016 3:42pm Jan 7, 2016 3:42pm
Quoting elbert3
1st line resistance 4602 over the 4622
as above
  • #422,027
  • Jan 7, 2016 3:44pm Jan 7, 2016 3:44pm
Quoting elbert3
mmm looking good so far on the 5 min , lets see if poss doji on the 4 hour,, 2 hours away yet thou , 4567, and i like numbers that some what match, to 5678 ??? only my opinion
dont you just love it when it happens
  • #422,028
  • Jan 7, 2016 4:23pm Jan 7, 2016 4:23pm
Hi
This is my take on GBPUSD.
It approached a major support at 1.4595
Stochs are massively oversold on higher time frames, we should see some correction from the support.

Given Commitment of Traders Report and new short positions, further downside must be assumed.
There could be a correction towards 1.4930 area, which would make a good short entry.
From then we could see a consolidation and choppy action between 1.4930 and 1.4595 before further break to the downside
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD humbletraders.png Size: 58 KB
HumbleTraders
  • #422,029
  • Jan 7, 2016 4:37pm Jan 7, 2016 4:37pm
Quoting gfscapital
Hi This is my take on GBPUSD. It approached a major support at 1.4595 Stochs are massively oversold on higher time frames, we should see some correction from the support. Given Commitment of Traders Report and new short positions, further downside must be assumed. There could be a correction towards 1.4930 area, which would make a good short entry. From then we could see a consolidation and choppy action between 1.4930 and 1.4595 before further break to the downside {image}

Buying time is going to me next week I think... though good analysis... Boom to Bust cycle is on the move!
Look after your equity not balance!
  • #422,030
  • Jan 7, 2016 8:37pm Jan 7, 2016 8:37pm
A new low formed as this pair went below April 2015 low. Therefore an expanded flat correction (4) is forming.
If reversing from here, expect an impulse wave (c) retraces ending diagonal c completely in short time.
Attached Image (click to enlarge)
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Elliott Wave for optimum entry, exit and risk management of trades
  • #422,031
  • Jan 7, 2016 10:37pm Jan 7, 2016 10:37pm
Attached Image (click to enlarge)
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#Trade what you see and not what your think
  • #422,032
  • Jan 8, 2016 12:17am Jan 8, 2016 12:17am
Going for quick one
SHORT GBP/USD

TP : 1.4600
  • #422,033
  • Jan 8, 2016 1:20am Jan 8, 2016 1:20am
Looking for a sell with burst from London open :

Attached Image (click to enlarge)
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Money moves the market, not an indicator.
  • #422,034
  • Jan 8, 2016 3:10am Jan 8, 2016 3:10am
This mornings emial if anybody is interested
‘Sterling is everyone’s favorite currency to sell at the moment,” said Neil Mellor, a senior foreign-exchange strategist at Bank of New York Mellon Corp. in London. “You have economic news veering on the more negative side, then you have Osborne talking about all the various shocks the U.K. faces and the ‘Brexit’ debate. It is hard to refute the fact that is definitely on the radar now.’

LCG: ‘Cable hit a fresh 5-year low 1.4534 yesterday and stabilised within 1.4604/1.4645 in Asia. The USD leg should determine whether the pair is ready for a rebound or a further sell-off is on the way. While the BoE doves have good reasons to remain in charge, any disappointment in US jobs data could push the Fed hawks to the sidelines, hence give support to the pound against the dollar. Big vanilla puts at 1.47/1.48 and 1.4550 for today’s expiration.’

GBPUSD
Bearish below 1.4650

Market price 1.4619
Bearish case: 1.4650 resistance, breaking 1.4534, drop expected to 1.4470 max 1.4405/1.4380.
Bullish case: 1.4650 surpassed, rise to 1.4755 before 1.4890
  • #422,035
  • Jan 8, 2016 3:13am Jan 8, 2016 3:13am
Quoting elbert3
This mornings emial if anybody is interested Sterling is everyones favorite currency to sell at the moment, said Neil Mellor, a senior foreign-exchange strategist at Bank of New York Mellon Corp. in London. You have economic news veering on the more negative side, then you have Osborne talking about all the various shocks the U.K. faces and the Brexit debate. It is hard to refute the fact that is definitely on the radar now. LCG: Cable hit a fresh 5-year low 1.4534 yesterday and stabilised within 1.4604/1.4645 in Asia. The USD leg should determine...
http://www.investopedia.com/terms/v/vanillaoption.asp
  • #422,036
  • Jan 8, 2016 3:18am Jan 8, 2016 3:18am
Quoting elbert3
{quote} http://www.investopedia.com/terms/v/vanillaoption.asp
Happy New year to ya man, hope it's great for you. Same to all you traders here. Cheers
  • #422,037
  • Jan 8, 2016 3:38am Jan 8, 2016 3:38am
gbpaud h1 interesting
  • #422,038
  • Jan 8, 2016 3:45am Jan 8, 2016 3:45am
Quoting digger1
{quote} Happy New year to ya man, hope it's great for you. Same to all you traders here. Cheers
hny to you to,,, trade safe , regards E
  • #422,039
  • Jan 8, 2016 3:48am Jan 8, 2016 3:48am
Quoting Luzbay
{quote} Nice chart, Jonstaples. Do you use other charts that have support/resistance and fib levels on it - or is this all that you work with? Best, Luzbay.
Hi Luzbay, I also use the daily and some times the weekly chart to see if the cost is clear.

If you need an analysis let me know the instrument and time-frame that you want.

Cheers.
  • #422,040
  • Jan 8, 2016 4:16am Jan 8, 2016 4:16am
potential S H S
Attached Image (click to enlarge)
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