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Cable Update (GBPUSD)

  • #423,981
  • Feb 11, 2016 5:46am Feb 11, 2016 5:46am
Quoting meanvel
{quote} I'm not so sure it's a good idea to bid on anything today... The critical zones the market is trying to head for now are quite a bit lower... {image}
thanks,,,,,, expect the unexpected,,?? lol
  • #423,982
  • Feb 11, 2016 5:48am Feb 11, 2016 5:48am
Quoting Ill-b-back
{quote} Could do. The daily is wedged in between, dare I say it, support and resistance lines. 38.2 fib maybe all the love bears get, who knows, could easily be a shake out with no news trigger... Except bad GBP numbers (from yesterday) {image} {image}
  • #423,983
  • Feb 11, 2016 5:50am Feb 11, 2016 5:50am
Unemployment stats should then take this puppy lower for a level out zone ws time.
  • #423,984
  • Feb 11, 2016 6:04am Feb 11, 2016 6:04am
Quoting dean1star
Unemployment stats should then take this puppy lower for a level out zone ws time.
the s/r patterns on the 1 hour needs to be looked at m but now i am off to see my builder so gl,,
  • #423,985
  • Feb 11, 2016 6:08am Feb 11, 2016 6:08am
Quoting elbert3
{quote} the s/r patterns on the 1 hour needs to be looked at m but now i am off to see my builder so gl,,
Maybe u need some of that too GL- Builders hey ... ouch

No confirmed trades on either pair - so we play the waiting game lol.
  • #423,986
  • Feb 11, 2016 6:24am Feb 11, 2016 6:24am
If the current drop is spillover of UJ selling, then I expect GU to bounce at some point
  • #423,987
  • Feb 11, 2016 6:24am Feb 11, 2016 6:24am
#GBPUSD adding shorts @ 1.4439 looking for pound to crack the 1x1 = 45 Deg and continue until 2/12 or 2/15 so far looking good
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 2-11-2016.png Size: 49 KB
"W. D. Gann said that time is the most important factor among all things."
  • #423,988
  • Feb 11, 2016 6:26am Feb 11, 2016 6:26am
Quoting Darkforce
If the current drop is spillover of UJ selling, then I expect GU to bounce at some point
Look at UJ chart, JP intervened just
  • #423,989
  • Feb 11, 2016 6:28am Feb 11, 2016 6:28am
Quoting meanvel
This is starting to suspiciously look like a ABC correction on the daily. {image}
maybe we see something like this?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 130 KB
  • #423,990
  • Feb 11, 2016 6:37am Feb 11, 2016 6:37am
Quoting Don96
{quote} Nice take on that 1.4577, did you trade it?
I took it yesterday, but today i was because of that minor pullback on hte Asian session but now is on the right track my first target is @ 1.4350 and the secound @1.4223.
  • #423,991
  • Feb 11, 2016 6:39am Feb 11, 2016 6:39am
. wth.
  • #423,992
  • Feb 11, 2016 6:58am Feb 11, 2016 6:58am
Quoting MarkoTrd
. wth.
flat now. sell paid.
  • #423,993
  • Feb 11, 2016 7:10am Feb 11, 2016 7:10am
144 buy Pound Dollar

Position trade.
Stop loss in place.
  • #423,994
  • Feb 11, 2016 7:25am Feb 11, 2016 7:25am
Euro sold at 113 500
  • #423,995
  • Feb 11, 2016 7:53am Feb 11, 2016 7:53am
Pound Dollar chart as per trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m15-oanda-division4-2.png Size: 101 KB
  • #423,996
  • Feb 11, 2016 7:55am Feb 11, 2016 7:55am
Quoting dean1star
143 500 could be a strong possibility
Then 4284!!!! wtf 50 pips bounce in just 25 minutes!!! Trap???
  • #423,997
  • Feb 11, 2016 7:58am Feb 11, 2016 7:58am
Quoting Dr.Zain
{quote} Then 4284!!!!
Well thats an interesting thought question being in which order? have a target here at 144 850.

Lets wait and see.

The Word Flanker came to mind and you had Trap. Its either a flanker or a trap which leads to a break even trade 24 hours later.
Or we make the target.
  • #423,998
  • Feb 11, 2016 8:13am Feb 11, 2016 8:13am
This is a classic demand zone, and it holds so far.

Should it fail, then obviously we can go down, but so far I don't see any sign of that.

In fact, we just made a HL with divergence, so likelihood that we go higher is still high
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDFXFH4.png Size: 55 KB
  • #423,999
  • Feb 11, 2016 8:15am Feb 11, 2016 8:15am
Wheee... Bear killin!

The bears got so close, just so close... They were within ten pips from breaking a major low and hitting a big sell stop pocket.

Meh, those bad bears may need another day to get reinforcements. It would be rather hilarious if they didn't manage to crack the lows after all this...
"Don't fear a bubble until it starts to burst."
  • #424,000
  • Feb 11, 2016 8:19am Feb 11, 2016 8:19am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH8.png Size: 38 KB
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