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Cable Update (GBPUSD)

  • #427,641
  • Apr 7, 2016 4:16pm Apr 7, 2016 4:16pm
updated EW projection on H1 GBP USD. We are going to 4300 initially, so long 4000 holds now.
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  • #427,642
  • Apr 7, 2016 4:30pm Apr 7, 2016 4:30pm
Quoting PatienceFx
{quote} enjoying the cleanup with stop at be, knowing we are not going back there this week, even in fomc {image}
i hope you booked your longs
  • #427,643
  • Edited Apr 8, 2016 1:13am Apr 7, 2016 4:58pm | Edited Apr 8, 2016 1:13am
Quoting asgcorp
updated EW projection on H1 GBP USD. We are going to 4300 initially, so long 4000 holds now. {image}
You might all just be deeply disappointed. We''ll see 1.3978 and then shoot towards 1.4250/300 after which cable will aim for 1.3600 below
  • #427,644
  • Apr 7, 2016 5:09pm Apr 7, 2016 5:09pm
Quoting Makavell
{quote} You might all just be deeply disappointed. Well see 1.3978 and then shoot towards 1.4250/300 after which cable will aim for 1.3600 below
makes sense to me
Come with me if you want to live....
  • #427,645
  • Apr 7, 2016 5:15pm Apr 7, 2016 5:15pm
simple trading strat GU Friday
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  • #427,646
  • Apr 7, 2016 5:20pm Apr 7, 2016 5:20pm
Quoting Makavell
{quote} You might all just be deeply disappointed. Well see 1.3978 and then shoot towards 1.4250/300 after which cable will aim for 1.3600 below
hey thanks for a heads up. Not really dissapointed. Just posted a quick count on H1 EW. Previously posted this on H4 over weekend and this is still valid.
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  • #427,647
  • Apr 7, 2016 5:21pm Apr 7, 2016 5:21pm
also there is a potential pattern on D3 chart, which shows the leg down to approx 3950. So yeah, pretty much 3960-80 could be the final area before we reverse.
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  • #427,648
  • Apr 7, 2016 5:48pm Apr 7, 2016 5:48pm
Quoting asgcorp
{quote} hey thanks for a heads up. Not really dissapointed. Just posted a quick count on H1 EW. Previously posted this on H4 over weekend and this is still valid. {image}
Yep, looks still valid from my own view also
A bounce up from here to retest the red will have me shorting

Otherwise no trade for me
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Come with me if you want to live....
  • #427,649
  • Apr 7, 2016 5:53pm Apr 7, 2016 5:53pm
intrady for Friday I prefer to buy 3980-4020 TP @ 4140, just my 2 cents though.
  • #427,650
  • Apr 7, 2016 5:54pm Apr 7, 2016 5:54pm
although eg finding some 4hr support at previous resistance, so GU might just go more south.

Projection?

Pattern techs are not my strength, but looks familiar
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #427,651
  • Apr 7, 2016 5:58pm Apr 7, 2016 5:58pm
You are bringing up a good point. EUR GBP more important is that we've already surpassed it's normal year range so far it's been just a steep climb uphill YTD. 800+ pips. This signals that EG about to flip, not there yet, but we are close. It's either EU crashes or GU rallies, my take is that second option is more valid atm.
  • #427,652
  • Apr 7, 2016 8:57pm Apr 7, 2016 8:57pm
#GBPUSD still on the sidelines waiting for the right moment to strike...... today and tomorrow should give clues.....
Attached Image (click to enlarge)
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"W. D. Gann said that time is the most important factor among all things."
  • #427,653
  • Apr 7, 2016 10:29pm Apr 7, 2016 10:29pm
Hi everyone,

I suggest selling GBPUSD from the current market price 1.4064 till 1.4019

Then buy back from 1.4019 till 1.4136 - 1.4144 region.

That should be about the main moves for today.

Happy trading!
  • #427,654
  • Apr 8, 2016 12:21am Apr 8, 2016 12:21am
looking at the fall in gbp/aud from 1.88 to 1.8631 I think some more downside is left in gbp. gbp/chf is up since last night but it might be a fakey or gbp/aud is. euro opening will make things clear today
  • #427,655
  • Apr 8, 2016 12:46am Apr 8, 2016 12:46am
Quoting Don96
{quote} i hope you booked your longs
yes booked 120 on that, fomc was a dud
  • #427,656
  • Apr 8, 2016 12:54am Apr 8, 2016 12:54am
GU plan for today. Buy low / sell high. Weakness in GU atm dominant until 3980-4020. therefore strat is shorting into weak rallies.
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  • #427,657
  • Apr 8, 2016 12:57am Apr 8, 2016 12:57am
Quoting pipcenturion
Hi everyone, I suggest selling GBPUSD from the current market price 1.4064 till 1.4019 Then buy back from 1.4019 till 1.4136 - 1.4144 region. That should be about the main moves for today. Happy trading!
pretty much you nailed it.
  • #427,658
  • Apr 8, 2016 12:59am Apr 8, 2016 12:59am
also GU can't defy gravity, UJ is still strong down, therefore via strong yen GBPJPY down and GJ being a function of GU and UJ pulls GU lower still. GU can't make a decent recovery without GJ stability, which is still to come.
  • #427,659
  • Apr 8, 2016 1:10am Apr 8, 2016 1:10am
Quoting asgcorp
You are bringing up a good point. EUR GBP more important is that we've already surpassed it's normal year range so far it's been just a steep climb uphill YTD. 800+ pips. This signals that EG about to flip, not there yet, but we are close. It's either EU crashes or GU rallies, my take is that second option is more valid atm.
Actually this is what caught my attention too. EG been going on an "uphill" lol.

ps: thanks for sharing your EW charts. out of curiosity, are thost software generated? or u manually charted by hand? curious
  • #427,660
  • Apr 8, 2016 1:18am Apr 8, 2016 1:18am
projecting to 3963 region, in 2nd chart, we then have very neat PA ruled fibs with a return to untested fib/hybrid trendline at 4340 region
A funky daily PA dance channel also.
4hr shows a potential sell here. I won't take it but MAY take a small buy down below at the 3960 region if PA indicates
Attached Image(s) (click to enlarge)
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