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Cable Update (GBPUSD)

  • #428,201
  • Apr 13, 2016 9:16am Apr 13, 2016 9:16am
#GBPUSD B 1.4200 / C 1.4354 if my calculation are correct it could kiss 1.4354 and make a pivot high today and sell off tomorrow

FYI very risky, im either right or right out :nerd:
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"W. D. Gann said that time is the most important factor among all things."
  • #428,202
  • Apr 13, 2016 9:24am Apr 13, 2016 9:24am
Quoting trademb
{quote} how do we know its not going to bounce back up to 1.42424
you can set your stop loss above 1.4242 dear friend...
joine me mql5.........
  • #428,203
  • Apr 13, 2016 10:34am Apr 13, 2016 10:34am
Pound's Rally If Voters Reject `Brexit' Predicted to Be Fleeting (Bloomberg)
  • #428,204
  • Apr 13, 2016 10:43am Apr 13, 2016 10:43am
Quoting PatienceFx
next in line wednesday = sideways to ranging thursday drop begins friday drop ends at 1.4000 work your bones and read what they say i used rotting wild buffalo bones
24 HOURS AGO !!!
results are infront of you
  • #428,205
  • Apr 13, 2016 11:03am Apr 13, 2016 11:03am
Quoting PatienceFx
{quote} 24 HOURS AGO !!! results are infront of you

how did you know?
  • #428,206
  • Apr 13, 2016 12:00pm Apr 13, 2016 12:00pm
GU time wasting experience today, good thing I took a day off, so the gameplan remains the same, bulls did defend 4220 level and there is volume @ this area so it won't let go that easy.

Therefore awaiting retest of 4300 before a new leg down. no changes. 4220 definately a high impact area. Probably some traders will go long here for a re-test of 4300. Ill stay put / on sidelines until we do a re-test.

Freaking sleepy hollow.
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  • #428,207
  • Apr 13, 2016 12:04pm Apr 13, 2016 12:04pm
Wait for PA to tell. When it shows a reversal candle stick at the R/S zone, look for a follow through signal.

KP

Quoting trademb
what i dont get is. How many times does the support need to be tested before the price moves up or down?
Do your homework, follow the footprints of smart money
  • #428,208
  • Apr 13, 2016 12:28pm Apr 13, 2016 12:28pm
200 EMA strong support.
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  • #428,209
  • Apr 13, 2016 12:48pm Apr 13, 2016 12:48pm
Quoting trademb
what i dont get is. How many times does the support need to be tested before the price moves up or down?


You don't need to know. If you look for a specific number of times you may be setting yourself up for failure/losses. General rule, the more times price turns away from the zone the weaker the zone becomes.

KP
Do your homework, follow the footprints of smart money
  • #428,210
  • Apr 13, 2016 1:07pm Apr 13, 2016 1:07pm
GU M30 setting up for a triangle break out.
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  • #428,211
  • Apr 13, 2016 1:17pm Apr 13, 2016 1:17pm
GU will have to decide soon which way it's headed, break below 4200 - we go to 4140 and ultimately to 4040 if we keep above 4220 and break above 4340 we then can test 4460 area.
  • #428,212
  • Apr 13, 2016 1:29pm Apr 13, 2016 1:29pm
Quoting asgcorp
GU will have to decide soon which way it's headed, break below 4200 - we go to 4140 and ultimately to 4040 if we keep above 4220 and break above 4340 we then can test 4460 area.
how you define a break? the problem with breaks is that it could break through 4040 in one candle. then what do you do>?
use leverage with caution...
  • #428,213
  • Apr 13, 2016 1:45pm Apr 13, 2016 1:45pm
I don't know what you do bro, my plan is clearly stated above, the triangle breakout atm will most likely result in upside breakout.
The cluster @ 4210-20 was protected by bulls with high volume throughput.

I'm looking for a decent entry to short sell GU and that probably won't be today we will get an upside breakout LO tmrw and then I'd be looking for price weakness @ 4280-4300 region.

The overall condition in GU is bearish, however before bears gain full control, stops above will be triggered to get the weak shorts out of the way.
  • #428,214
  • Apr 13, 2016 1:57pm Apr 13, 2016 1:57pm
Entering a buy zone ..

BUY at 142 100
  • #428,215
  • Apr 13, 2016 1:59pm Apr 13, 2016 1:59pm
Quoting dean1star
Entering a buy zone .. BUY at 142 100
yeah it does look good, SL could be just @ 4190-95 area, not much risk here TP prolly around 4280. I'd wait for some more action on M30 though.
  • #428,216
  • Apr 13, 2016 2:01pm Apr 13, 2016 2:01pm
this H1 candle got a lot of volume in it so I doubt we'll crack this line before another swing higher.
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  • #428,217
  • Apr 13, 2016 2:03pm Apr 13, 2016 2:03pm
GU will push higher / shake out weak shorts / get new buyers lured in @ 4260-80 area then longs will get crushed.
  • #428,218
  • Apr 13, 2016 2:07pm Apr 13, 2016 2:07pm
Quoting asgcorp
I don't know what you do bro, my plan is clearly stated above, the triangle breakout atm will most likely result in upside breakout. The cluster @ 4210-20 was protected by bulls with high volume throughput. I'm looking for a decent entry to short sell GU and that probably won't be today we will get an upside breakout LO tmrw and then I'd be looking for price weakness @ 4280-4300 region. The overall condition in GU is bearish, however before bears gain full control, stops above will be triggered to get the weak shorts out of the way.
Agreed - its a position trade - expecting some more downside lets see how asia play it.
  • #428,219
  • Apr 13, 2016 2:16pm Apr 13, 2016 2:16pm
here's H1 EW review on GU
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  • #428,220
  • Apr 13, 2016 2:47pm Apr 13, 2016 2:47pm
bought some GU tight stop TP around 4280.
220 traders viewing now, 4 are registered:
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