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Cable Update (GBPUSD)

  • #426,521
  • Mar 22, 2016 1:01pm Mar 22, 2016 1:01pm
Having got in from work and had the time to look at my charts properly, I think that 1.43 now looks like the major resistance, so I'll be waiting for a retrace to that level - or just below, price action depending - before going short.

I'm sure there will be a retrace overnight, as I would expect that some of today's forceful downwards move is in reaction to the terrible news from Belgium.
  • #426,522
  • Mar 22, 2016 1:09pm Mar 22, 2016 1:09pm
I think we going to 1.4475 before going down again. Close the weekend gap first.
  • #426,523
  • Edited 1:38pm Mar 22, 2016 1:24pm | Edited 1:38pm
Quoting Motiv8
I think we going to 1.4475 before going down again. Close the weekend gap first.
I'd be very surprised if we got back up to 1.4475 any time soon, but the market doesn't often leave gaps unfilled!

I'm trying to catch larger trades with less lately (owing to lack of ability to be in front of the screen for a long time), so I'm trading off of the D1 and H4 candles. I'm going to be disciplined and wait for the current H4 candle to close before taking my entry, which will be a scalp to 1.43. Trailing stop to be decided on at the time, as I think this movement will exhaust and then head south.
  • #426,524
  • Mar 22, 2016 1:36pm Mar 22, 2016 1:36pm
If not go below 1.4190 it´s a good bullish sign, below that goes to 1.4050 easy.
  • #426,525
  • Mar 22, 2016 1:56pm Mar 22, 2016 1:56pm
Quoting Motiv8
If not go below 1.4190 its a good bullish sign, below that goes to 1.4050 easy.
If it helps i usually find if at around 11pm uk time there is a drop which breaks the low then this can follow an asia buy back and then lower - so see if we get a late drop out of New York .. the price might match your estimate
  • #426,526
  • Mar 22, 2016 2:20pm Mar 22, 2016 2:20pm
I´m long at moment TP 1.4350 TP2 1.4475. If break 1.4190 short TP 1.4050 TP2 1.40.
  • #426,527
  • Mar 22, 2016 3:06pm Mar 22, 2016 3:06pm
bullish divergence on 15m having fell in extreme oversold area around 1.4250 earlier warns of a corrective "rally".

imo
  • #426,528
  • Mar 22, 2016 3:10pm Mar 22, 2016 3:10pm
Quoting fxmasterdxb
no positions on GU at the momemnt for me, just shorted UCAD @ 1.3050, lookinf for a target below 1.3, probably by tomorrow I have a long signal in Gold at market with SL @ 1248, but probably ill skip as R:R does not look great
UCAD closed @ 1.3030, too tired to keep this open!
  • #426,529
  • Mar 22, 2016 3:21pm Mar 22, 2016 3:21pm
Be careful. Divergence on LTF can be tricky. GU downtrend seems to prevail atm.

KP

Quoting midouch
bullish divergence on 15m having fell in extreme oversold area around 1.4250 earlier warns of a corrective "rally". imo
Do your homework, follow the footprints of smart money
  • #426,530
  • Mar 22, 2016 4:12pm Mar 22, 2016 4:12pm
#GBPUSD Long @ 1.4207 / SL 1.4188 / C 1.4435.... if my calculation are correct it should continue the uptrend
Attached Image
"W. D. Gann said that time is the most important factor among all things."
  • #426,531
  • Mar 22, 2016 4:23pm Mar 22, 2016 4:23pm
Quoting USDollar
#GBPUSD Long @ 1.4207 / SL 1.4188 / C 1.4435.... if my calculation are correct it should continue the uptrend {image}
I like this trade. I think it'll reverse before 1.4435, but that's just my opinion.

Good luck with it!
  • #426,532
  • Mar 22, 2016 5:48pm Mar 22, 2016 5:48pm
I think at some point we retest the breakout.
If we get down to 4175 first, a buy could be in order if you are on the bullish side
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 33 KB
Click to Enlarge Name: GBPUSDH4.png Size: 40 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 28 KB
Come with me if you want to live....
  • #426,533
  • Mar 22, 2016 5:58pm Mar 22, 2016 5:58pm
interesting to note February produced our deepest close in a very long time
At least as far back as my broker records go
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDMonthly.png Size: 39 KB
Come with me if you want to live....
  • #426,534
  • Mar 22, 2016 6:22pm Mar 22, 2016 6:22pm
good bearish divergences happening also
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 29 KB
Come with me if you want to live....
  • #426,535
  • Mar 22, 2016 6:27pm Mar 22, 2016 6:27pm
Very nice discussion.
I am waiting for us to hit 1.4120 before making a move up. It is a fresh zone which yielded a massive rally. I reckon there are many unfilled orders sitting there that need to be filled before we move upward. Any rally before that will be a bull trap.
  • #426,536
  • Mar 22, 2016 7:01pm Mar 22, 2016 7:01pm
#GBPUSD pound need to get above 1.4230 and stay above it
Attached Image
"W. D. Gann said that time is the most important factor among all things."
  • #426,537
  • Mar 22, 2016 7:17pm Mar 22, 2016 7:17pm
Quoting TraderMonty
{quote} Ive found the multi time frame indicator somewhere on the internet. Hope it helps :-) {file}
Thanks for the EA that looks pretty good, however since I installed it I have this nasty message showing on the top left corner...
Warning: You trade with a poor-quality broker!
Find a better broker at: FXTradingRevolution.com

Can you please tell me how to remove it, because this is very annoying??
  • #426,538
  • Mar 22, 2016 7:40pm Mar 22, 2016 7:40pm
Quoting FabFx
{quote} Thanks for the EA that looks pretty good, however since I installed it I have this nasty message showing on the top left corner... Warning: You trade with a poor-quality broker! Find a better broker at: FXTradingRevolution.com Can you please tell me how to remove it, because this is very annoying??
a spamming ea, that's genius
Come with me if you want to live....
  • #426,539
  • Mar 22, 2016 7:48pm Mar 22, 2016 7:48pm
Quoting KeenPips
Be careful. Divergence on LTF can be tricky. GU downtrend seems to prevail atm. KP {quote}
Yea, but I'll take my chances with small positions. The RSI was hit 12 before making a lower low, these setups usually lead to short-lived corrective rally. let's see the outcome.
  • #426,540
  • Mar 22, 2016 8:18pm Mar 22, 2016 8:18pm
Quoting niubee
Sometimes it seems funny when people arguing something simple. Everyone has their own opinion. Just give explanation about why you short/long. For newbie traders (include me), my advice is... other opinion is like a references to me. But I open position based on what I see on my charts, I'm not open position based on what I read. I read other opinions, I read my charts, I analyze, then open position. If I feel the direction not like the way I want to be, then close the position. Cool down guys... May this thread can help other traders. We brainstorming...
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