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Cable Update (GBPUSD)

  • #426,121
  • Mar 15, 2016 5:07am Mar 15, 2016 5:07am
Quoting ServerUang
I think H4 time frame is UpTrend, I'm BUY from 1.4170. Wish Me Luck....
Well, yes i'm pretty much bullish on cable but this sharp move is making me re-think my position!

i closed my position as the 4 hr closed below my threshold 1.4185.
  • #426,122
  • Mar 15, 2016 5:11am Mar 15, 2016 5:11am
Quoting fxmasterdxb
{quote} Well, yes i'm pretty much bullish on cable but this sharp move is making me re-think my position! i closed my position as the 4 hr closed below my threshold 1.4185.

isn't this region the support level, why close here at the support when you have higher target upwards?
  • #426,123
  • Mar 15, 2016 5:12am Mar 15, 2016 5:12am
I'm also long from 1.4170 with a tight s/l. S3 at 1.4134.
  • #426,124
  • Mar 15, 2016 5:20am Mar 15, 2016 5:20am
Quoting smikester
{quote} I'll give you the benefit of the doubt.
should listen to myself more often lol - thanks for the reminder
  • #426,125
  • Mar 15, 2016 5:23am Mar 15, 2016 5:23am
Quoting 10cents
{quote} isn't this region the support level, why close here at the support when you have higher target upwards?
well for me a close below 1.4185 means 1.45 is no longer in the books for the time being.

I will re-asses my standing accordingly to the day close while currently focusing on other pairs (atm short USD/CAD @ 1.3390)
  • #426,126
  • Mar 15, 2016 5:30am Mar 15, 2016 5:30am
Quoting fxmasterdxb
{quote} well for me a close below 1.4185 means 1.45 is no longer in the books for the time being. I will re-asses my standing accordingly to the day close while currently focusing on other pairs (atm short USD/CAD @ 1.3390)

For a target 400 pips up at 1.45, i think a 50-100 pips swing at the support is pretty normal.

Just curious about the closing of your trade right at this support region, trying to find out more since i may have missed something on the charts.
  • #426,127
  • Mar 15, 2016 5:30am Mar 15, 2016 5:30am
@fxmasterdxb...
I'm SELLing on USDCAD from 1.3390. How about you ?
  • #426,128
  • Mar 15, 2016 5:31am Mar 15, 2016 5:31am
going long before the end of the day going to see 4pm uk time where the price is at.
scalpings cool but thinking its safer and more profitable to stick to postion trading with the trend.
just my 2 cents thinking out loud lol
  • #426,129
  • Mar 15, 2016 5:38am Mar 15, 2016 5:38am
Quoting 10cents
{quote} For a target 400 pips up at 1.45, i think a 50-100 pips swing at the support is pretty normal. Just curious about the closing of your trade right at this support region, trying to find out more since i may have missed something on the charts.
the long closed 4 hr candle is my reason, if this is a breather, PA wont move that fast, rather it will consolidate around certain rates and keep moving up and down (down with more pips) until in bounces, but here it is one straight line!

Like I said, I might change my standing depending on the day close.
  • #426,130
  • Mar 15, 2016 5:39am Mar 15, 2016 5:39am
Quoting ServerUang
@fxmasterdxb... I'm SELLing on USDCAD from 1.3390. How about you ?
I'm in the same boat with you dear, my SL is @ 1.3450 and TP below 1.3160
  • #426,131
  • Mar 15, 2016 5:51am Mar 15, 2016 5:51am
S/o
  • #426,132
  • Mar 15, 2016 5:56am Mar 15, 2016 5:56am
GBPUSD pound hit my SL @ 1.4298 for a minor loss..... now that it flushed out some longs.... looking for a bounce today or tomorrow.. will be watching PA
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 3-15-16.png Size: 30 KB
"W. D. Gann said that time is the most important factor among all things."
  • #426,133
  • Mar 15, 2016 6:26am Mar 15, 2016 6:26am
#GBPUSD There are a few level im looking at, but pound could fall as low as 1.4035 that's the level im watching.... the other levels or possible Sup..... but it could chop around so watch PA
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 3-15-16.png Size: 33 KB
"W. D. Gann said that time is the most important factor among all things."
  • #426,134
  • Mar 15, 2016 8:05am Mar 15, 2016 8:05am
It's possible to fall that low, but first it will have to break below 1.4120, and that's a pretty serious support level.
  • #426,135
  • Mar 15, 2016 8:23am Mar 15, 2016 8:23am
it is almost 1.42 baby
getting ready for shorts
  • #426,136
  • Mar 15, 2016 8:53am Mar 15, 2016 8:53am
Has to run down to low 1.4100's or lower to sweep the stops, wait for it...
  • #426,137
  • Mar 15, 2016 9:12am Mar 15, 2016 9:12am
sweet spot to add some short term cable longs, TP 1.42 and SL todays low
  • #426,138
  • Mar 15, 2016 9:13am Mar 15, 2016 9:13am
Quoting Don96
similar to EU last few days/weeks.. larger picture? potential scenario As you can see the Cyan coloured scenario actually got lower than the pattern I was after... the Cyan colour 1 is what I would have expected, however this could now be replaced by the Red number 2 IF 1 is breached, and then a potential move up to Red 3 and furthermore Cyan 2... all the brexit news could make this happen faster or just completely disregard the whole thing. Or I could just be reading it wrong (highest possibility) {image} {image}
​FOMC may have a part to play as well as other GBP news tomorrow...
  • #426,139
  • Mar 15, 2016 9:23am Mar 15, 2016 9:23am
rejecting the large red bar to the left with the 1.4171 low, looks like its not shooting up as fast as before = weakness...
  • #426,140
  • Mar 15, 2016 9:43am Mar 15, 2016 9:43am
Quoting nealpek
rejecting the large red bar to the left with the 1.4171 low, looks like its not shooting up as fast as before = weakness...
Earlier on the cable bounced off the 38.2% retracement turned support at 1.4154. This is a retracement level from a high of 1.4677 set on 4 February and recent low of 1.3835. However, I think it will break this support today due to the strength of the current move down, ADX of 63
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