Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#428,141
Apr 12, 2016 1:30pm Apr 12, 2016 1:30pm

asgcorp
Joined Feb 2014 | Status: trading bank levels | 8,143 Posts

Dig not sure why GU needs to re-test QP, it's pretty much rejected already @ 4340. GU will push some higher and will get sold.

#428,142
Apr 12, 2016 1:30pm Apr 12, 2016 1:30pm

asgcorp
Joined Feb 2014 | Status: trading bank levels | 8,143 Posts

Quoting coldvinc

Disliked

{quote} The problem isn't so much buying at that level it's when you buy at that level. For example if you place an order. You place an order a bit above 1.4320 assuming price goes there and stays there on larger TF (4H). However, because it's an order you don't stay to watch and if you have bad luck like today and price moves lower again your stop gets hit and you lose.

Ignored

I don't use limit orders I buy/sell @ market always.

#428,143
Apr 12, 2016 1:43pm Apr 12, 2016 1:43pm

asgcorp
Joined Feb 2014 | Status: trading bank levels | 8,143 Posts

in order for GU to turn bullish, we need to close above this TL and also crack QP, while it's not entirely off limit, it's still farfatched atm.

higher probability that we test area close to recent highs with low volume and then real move will come through with volume.

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#428,144
Apr 12, 2016 1:45pm Apr 12, 2016 1:45pm

asgcorp
Joined Feb 2014 | Status: trading bank levels | 8,143 Posts

also pretty clear divergence of price vs RSI on H1. I'd say we've maxed out @ QP.

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#428,145
Apr 12, 2016 2:38pm Apr 12, 2016 2:38pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting asgcorp

Disliked

Also notice that GBPUSD is setting up in a major triangle pattern on Daily chart. Previously my take was that we were doing an inverted H&S on daily, but right now I'm not really sure about that. Triangle setting up and prior to that we had a strong downtrend. Maybe Makavell is not far off with his target @ 3400. What I do know is that we can't discard all options. Longer-term doesn't really do much for me personally, since for most part I do trades for 40-80 points on GU. But still if you got the direciton right at least...

Ignored

Now you're talking

Come with me if you want to live....

#428,146
Apr 12, 2016 2:41pm Apr 12, 2016 2:41pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

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Come with me if you want to live....

#428,147
Apr 12, 2016 2:55pm Apr 12, 2016 2:55pm

Don96
Joined Dec 2015 | Status: Trader | 7,803 Posts

Quoting Don96

Disliked

{quote} perhaps, ill see how this holds first and yes I agree {image}

Ignored

I have a 1/4 outside first swing high from the recent low at close intersection with a trend line 1.14395 if it gets there ill take the short providing pa is okay...

swing from the high on the Friday before BoJo announced his opinion on brexit to the higher low before final low produces 88.6 @ 1.43438 intersecting nicely with the quarter I posted earlier, I may have taken it if I switched to my other GU chart, whatever, focused on others atm

#428,148
Apr 12, 2016 3:06pm Apr 12, 2016 3:06pm