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Cable Update (GBPUSD)

  • #427,201
  • Apr 1, 2016 4:13pm Apr 1, 2016 4:13pm
Quoting asgcorp
it's just a temp slowdown, price won't stick around here for a long while. plan is a mild pullback then back short until 3960-80 area next week. this area should highlight potential reversal and turn for an upside target @ 4500, but won't happen overnight also. {image}
I like your Price target, my calculation are leaning that way also.... :nerd:
"W. D. Gann said that time is the most important factor among all things."
  • #427,202
  • Apr 1, 2016 4:21pm Apr 1, 2016 4:21pm
Quoting Ill-b-back
{quote} ok, thx mate will have to have a look when I get home. Heading out on a harbour cruise for Allys old-old folks birthday.
oh, perfect, have a good one for sure, and a great weekend!
  • #427,203
  • Apr 1, 2016 4:53pm Apr 1, 2016 4:53pm
Quoting Dr.Zain
{image} above 1.4330 will be a bullish signal and stability below 1.4255 is negative!! GBPUSD failed to stabilize above 1.4335 in Asian session after hitting SMA20.
DAMN those are some good price reaction point fibs Dr I Didn't see that reference point combo, thx for sharing
Come with me if you want to live....
  • #427,204
  • Apr 1, 2016 4:57pm Apr 1, 2016 4:57pm
Quoting asgcorp
{quote} oh, perfect, have a good one for sure, and a great weekend!
thx for that and thx for all your sharing, been a great help to be honest, I get a little bored on boats, I'd rather watch the footy, but well, it's a good day to be outside Have a great weekend brother
Come with me if you want to live....
  • #427,205
  • Apr 2, 2016 1:55am Apr 2, 2016 1:55am
Quoting james1254
{quote} It did form a doji on the daily time-frame and today it might form another one. I'd say that's a signal for a new move to the downside, but on the other hand we'll have to wait for the NFP tomorrow to be sure.
I never use doji's as a signal since it's a signal of indecision not one for reversal. It could be a sign to look for other entry signals.
What's that smell? ---- I smell money!
  • #427,206
  • Apr 2, 2016 5:03am Apr 2, 2016 5:03am
GBP USD Update:

Price located short-term support, I expect GBP USD to pullback from lows initially Monday-Tuesday max out on Wednesday around 4330-60 area, then price will reverse and take on new targets on the downside. Trading strategy: short sell upon completion of the pullback: SHORT SELL @ 4330-4360 SL 50 points TP 4060.
Use proper risk management with this trade.
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  • #427,207
  • Apr 2, 2016 7:03am Apr 2, 2016 7:03am
mid-term EW didn't change much, obviously the 5 wave impulse structure took us higher then previously projected 4340 to 4450 instead,
however otherwise mid-term outlook remains the same. a/b/c correction in process from the previous impulse structure, followed with minor c completions near 3960 region followed by cycle wave c which should take us above 4500. This is going to be a strong move also.
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  • #427,208
  • Apr 2, 2016 7:18am Apr 2, 2016 7:18am
Quoting asgcorp
mid-term EW didn't change much, obviously the 5 wave impulse structure took us higher then previously projected 4340 to 4450 instead, however otherwise mid-term outlook remains the same. a/b/c correction in process from the previous impulse structure, followed with minor c completions near 3960 region followed by cycle wave c which should take us above 4500. This is going to be a strong move also. {image}
yeah we really seem to be in consolidation zone looking at weekly. Looks unusual and yep I think the up move willbe quite explosive, this is winding up in a real whipsaw way with contradicting weekly candles. I'm looking to get in short around 4280 targetting 4160 as a get in, get out trade.night all and green pips
Come with me if you want to live....
  • #427,209
  • Apr 2, 2016 7:20am Apr 2, 2016 7:20am
much more fun expected on yen crosses next week, especially GBPJPY.
  • #427,210
  • Apr 2, 2016 9:44am Apr 2, 2016 9:44am
Sometimes I feel frustrating when the price hit my SL even I have placed a correct target.
I have a bad luck on placing entry
It happen several times
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Don't trust me. I'm still newbie
  • #427,211
  • Apr 2, 2016 9:49am Apr 2, 2016 9:49am
Quoting niubee
Sometimes I feel frustrating when the price hit my SL even I have placed a correct target. I have a bad luck on placing entry It happen several times {image} {image}
you lost a bubblegum money.nothing to stress about
consider not placing hard SL but monitor visually.
In trading, you have to be defensive and aggressive at the same time
  • #427,212
  • Apr 2, 2016 10:02am Apr 2, 2016 10:02am
After this daily and weekly candle, I think the downside will continue to 1.4120, 1.4050, 1.4000 and 1.3900. After this we go back to 1.45. Lets see.
Dollar index have daily double bottom. Should go north now.
  • #427,213
  • Apr 2, 2016 10:08am Apr 2, 2016 10:08am
Expecting more downside, considering the Daily Head and Shoulders formation has failed to break its neckline and the trendline was retested and reconfirmed.
My short term target is 1.4100.
  • #427,214
  • Apr 2, 2016 10:11am Apr 2, 2016 10:11am
Quoting Motiv8
After this daily and weekly candle, I think the downside will continue to 1.4120, 1.4050, 1.4000 and 1.3900. After this we go back to 1.45. Lets see. Dollar index have daily double bottom. Should go north now.
Depends how Feds play April hike card.Should heads start their statements like "April hike not ruled out" "its on the table"
Then USD will get stronger however should they start dovish tunes and some red numbers USD can sink lower pushing all majors up including GU.
I think its important to get the right pulse sentiment right specially beginning of the month.
I am surprised generally how little FF members pay attention to fundamentals.Everyone has their lines on the chart here but few actually consider what moves the market.
In trading, you have to be defensive and aggressive at the same time
  • #427,215
  • Apr 2, 2016 10:40am Apr 2, 2016 10:40am
fundies are good for sure, but you can't predict an outcome of the fed meeting, ecb meeting, etc, it's more like gambling.

USDX wise I can see that we are closing on 2 year range bottom. Fundies wise there is no clarity, it's a coin flip.

Looking at the dollar chart post-NFP I can see that the dollar got some breathing room now which could last a few sessions, however downtrend is still intact until we bottom out near 93-93.20.

Fundies wise it's all game of manipulation, Yellen calls up Bazooka Mario, sends an sms to Carney and all of a sudden you have a surprise rally in S&P.
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  • #427,216
  • Apr 2, 2016 11:07am Apr 2, 2016 11:07am
Brexit still pushing pound down and will be increase because the polls continue to show Brexit will be real. I'm against the Brexit,but I can't decide by myself.
Also economic data from US are better than UK, we can see the trade balance continue more negative in Uk.
I believe on Asia market the GBP will back below 1.42 and maybe very close to the minimum 1.4170 from Friday. Friday didn't gone lower because ADX was already 197 or something like that otherwise the down fall was bigger. I´m not new in FX, just came back last few months after 2 years retirement
  • #427,217
  • Apr 2, 2016 11:16am Apr 2, 2016 11:16am
Quoting Motiv8
Brexit still pushing pound down and will be increase because the polls continue to show Brexit will be real. I'm against the Brexit,but I can't decide by myself. Also economic data from US are better than UK, we can see the trade balance continue more negative in Uk. I believe on Asia market the GBP will back below 1.42 and maybe very close to the minimum 1.4170 from Friday. Friday didn't gone lower because ADX was already 197 or something like that otherwise the down fall was bigger. Im not new in FX, just came back last few months after 2 years...
Brexit is a mid-term deal it won't assit you in day trading. Also GU will go lower yes, but it won't move in a straight line. a pullback is due now.
Brexit is also a binary event. More pressure will come closer to decision date.
  • #427,218
  • Apr 2, 2016 11:25am Apr 2, 2016 11:25am
Pressure come every week after the weekly results of the polls. That's your opinion and I respect. Mine it's GBP in Asia market will back below 1.42, possibly close to 1.4170. My question it's how London open will react. The weekly candle it's quite ugly for GBP and the daily it's not very pretty too. Was rejected at 1.4459 below previous top 1.4529. And now it's back to south below 1.4057 to gain strength to back up to 1.4473 to close the weekend gap from 2 weeks ago.
The daily candle from 30/03 say everything.
  • #427,219
  • Apr 2, 2016 11:41am Apr 2, 2016 11:41am
indecision on GU H4 in demand area, trade accordingly.
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  • #427,220
  • Apr 2, 2016 12:16pm Apr 2, 2016 12:16pm
bullish cypher GBPUSD H4 repost. still could be activated.
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