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Cable Update (GBPUSD)

  • #425,681
  • Mar 2, 2016 10:01am Mar 2, 2016 10:01am
Quoting Dr.Zain
{quote} Hi I been away from the Machine and just opened it and saw very strange move of Pound on negative Fundamentals of 2 consecutive days???
Imagine this, negative fundamentals, the whole world knows about it, not just you. Everyone starts selling, then who is going to take the other side of your sell orders? Think about this carefully, you will get your answer.
  • #425,682
  • Mar 2, 2016 10:20am Mar 2, 2016 10:20am
Quoting Dr.Zain
{quote} Hi I been away from the Machine and just opened it and saw very strange move of Pound on negative Fundamentals of 2 consecutive days???
Well pre nfp would say that the are holding back the sell move for either tomorrow or Friday - its the usual carry over move.
Todays news seems to install the idea of expecting a positive NFP right - but they more than likely will clarify this with tomorrows usa employment claims, would be surprised if they sold off today - but retail traders and the like would say yes sell on the good news but they play a longer game these days .. sure its going higher before lower but lets wait and see..it was a strong buy move today and we all know they can move the market at a moments notice as and when they choose too right ..
  • #425,683
  • Mar 2, 2016 10:24am Mar 2, 2016 10:24am
Quoting Darkforce
{quote} For movement like this, I always thought that it is just pushing into a demand zone and drop, but I never get a grasp on how to pick the zone efficiently so that I can make money out of it.
Honestly i think its actually more logical to trade after the first NFP when the market moves usually on the tuesday after - but then when we see a chart moving we think a ha lets trade .. i make more pips after NFP then ever before thats for sure .. with the aim of overbought and oversold zones as a position.
  • #425,684
  • Mar 2, 2016 10:37am Mar 2, 2016 10:37am
zoom out to monthly chart, and you will see that cable is at extreme lows right now. This thing is going north big time. I'd expect a decent pullback from todays highs, however I have TP1 4200 and TP2 4330 right now. I don't see much upside on GU right now and in fact for the whole month ahead.
  • #425,685
  • Mar 2, 2016 10:51am Mar 2, 2016 10:51am
Quoting asgcorp
zoom out to monthly chart, and you will see that cable is at extreme lows right now. This thing is going north big time. I'd expect a decent pullback from todays highs, however I have TP1 4200 and TP2 4330 right now. I don't see much upside on GU right now and in fact for the whole month ahead.
totally agree with the going north route - even if NFP is positive its more likely that next week the up move continues leaving traders wondering why the sell is not continuing as nfp was that good - if its not so good then they still gonna take it north lol - play the game
  • #425,686
  • Mar 2, 2016 10:57am Mar 2, 2016 10:57am
Quoting dean1star
{quote} totally agree with the going north route - even if NFP is positive its more likely that next week the up move continues leaving traders wondering why the sell is not continuing as nfp was that good - if its not so good then they still gonna take it north lol - play the game
Now look at H4, signs everywhere.

Remember what happened to USDCAD, it could happen to GBPUSD as well.
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  • #425,687
  • Mar 2, 2016 11:03am Mar 2, 2016 11:03am
Quoting Darkforce
{quote} Now look at H4, signs everywhere. Remember what happened to USDCAD, it could happen to GBPUSD as well. {image}
your fibs at 61.8 is what at 142
if buts and maybes but the easy route ain't working with this pair any more and others will agree even in their own minds.
But lets wait and see hey 142 looks a great target to take back the money you have already put into the market.
144 is singing lol

141 insight and i bet after the adp news how many people would of banked on 141 lol .. well they the movers certainly did.

all we can do is just try and follow however frustrating it may appear.
  • #425,688
  • Mar 2, 2016 1:38pm Mar 2, 2016 1:38pm
so today was not that good ... still in a short from 1.39620 on .. don't really know why .. disregarded my own rules ... hmmm ... a sh*t day happens sometimes as it seems ..
  • #425,689
  • Mar 2, 2016 2:09pm Mar 2, 2016 2:09pm
Quoting Ill-b-back
Don't let another push up shake the 1hr and 30min traders out. Won't be surprised to see 4078 tonight or tomorrow then a drop back below 39 to end the week {image}
4145 area on the cards next I feel but I certainly wouldn't buy into it, more like a place to consider shorts
Come with me if you want to live....
  • #425,690
  • Mar 2, 2016 2:19pm Mar 2, 2016 2:19pm
Quoting Darkforce
{quote} Now look at H4, signs everywhere. Remember what happened to USDCAD, it could happen to GBPUSD as well. {image}
that 61.8 fib is looking lonely up there, got no love on the way down, could be time for a little booty call Thursday before Friday nfp, Recent US green and GBP red numbers come back into play
Come with me if you want to live....
  • #425,691
  • Mar 2, 2016 2:36pm Mar 2, 2016 2:36pm
#GBPUSD today pound should get a pullback..... I will buy some more at the right price
"W. D. Gann said that time is the most important factor among all things."
  • #425,692
  • Mar 2, 2016 4:36pm Mar 2, 2016 4:36pm
Looking at shorts today lets see the high out of uk in the morning
  • #425,693
  • Mar 2, 2016 11:14pm Mar 2, 2016 11:14pm
Quoting dean1star
Looking at shorts today lets see the high out of uk in the morning

Also looking for a short
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persistence and determination alone are omnipotent
  • #425,694
  • Mar 3, 2016 12:01am Mar 3, 2016 12:01am
Just an opinion...

https://charts.mql5.com/10/399/gbpus...ivision1-2.png
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  • #425,695
  • Mar 3, 2016 12:36am Mar 3, 2016 12:36am
Quoting elbert3
{image} owwwww sneeeeky
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that was the chart anybody else go long
  • #425,696
  • Mar 3, 2016 12:45am Mar 3, 2016 12:45am
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1st touch tl hit playing as my usual way
  • #425,697
  • Mar 3, 2016 1:02am Mar 3, 2016 1:02am
Quoting elbert3
{image} 1st touch tl hit playing as my usual way
Well - bias short in this moment.

140 would be ok.
  • #425,698
  • Mar 3, 2016 1:03am Mar 3, 2016 1:03am
Watching DPP and just below today for GU, probably wont get in today, would have liked a short at 1.40952/1.4100...
Attached Image
  • #425,699
  • Mar 3, 2016 1:05am Mar 3, 2016 1:05am
Quoting Don96
Watching DPP and just below today for GU, probably wont get in today, would have liked a short at 1.40952/1.4100... {image}
Targeting 139 500 still lol
  • #425,700
  • Mar 3, 2016 1:09am Mar 3, 2016 1:09am
Quoting dean1star
{quote} Targeting 139 500 still lol
My first S is at 1.39620. Head and shoulders pattern may be in the making. Strong S around 1.4028 though, same PP as Don. GL.
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