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Cable Update (GBPUSD)

  • #429,581
  • Apr 26, 2016 12:41pm Apr 26, 2016 12:41pm
thanks A ,so the supply were at needs to go for that to be demand


Quoting Akt
Hello everyone, since we have had 24 entries above so far with not a single chart posted I thought I would I would post my chart of the GBP/USD. I hope it can start a discussion on this pair Best wishes {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #429,582
  • Apr 26, 2016 1:32pm Apr 26, 2016 1:32pm
Quoting Magix
Not to always be picking on the same fella...but check this shit out. Along with charts that have randomly drawn lines all over them, his trade logic is much the same. {quote} He has sat for 2 days waiting to short, and in fact, has shorted this bitch 2x in the last 2 days, this being the second one... {quote} Go back through his charts, you will see his first short. Anyways... He was waiting until price made it to 4587 to short again. Doesn't it beg the obvious questions: 1. If you know where price is going to, why not trade up to that point before...
Quoting Magix
{quote} That's all I got. Your statement is laughable on 2 grounds. 1. That's not a hedge, its a Nedge. 2. Let's see how much money you've made with this strategy. If you want to spout bullshit just for the sake of spouting bullshit, well...this is a public forum and all, go ahead. But in this, all you are doing is talking yourself into bad practices and looking like a moron. And I guess, if this is what you'd set out to do...pat yourself on the back, Mission Accomplished!

Instead of laughing at people why not try to give some positive feedback.
You look like a serious idiot to me.
What's that smell? ---- I smell money!
  • #429,583
  • Apr 26, 2016 1:38pm Apr 26, 2016 1:38pm
Quoting SteFX85
{quote} {quote} Instead of laughing at people why not try to give some positive feedback. You look like a serious idiot to me.
Ever since he showed up the quality of posts has deteriorated to a bunch of pissing contests. Makes me cringe reading the heckling that is going back and forth.
  • #429,584
  • Apr 26, 2016 1:41pm Apr 26, 2016 1:41pm
GU H1 update.

GU is building more supports yet and pushing higher. I can't see any valid reasons to get in short just yet.

Post FED things could change. But technically and on fundies side USD is screwed big time, data is bad bond traders are pricing in no action / dovish scenario overall.

Should the dovish accord prevail I agree we can push higher still 4700-4800 quite possible.

I'm flat into the FOMC don't see any good R/R setup. I had built positions previously across the board but decided to pull out.

On a side note though exotic still could be worthwhile, USDTRY daily looks primed for a decent sell off now.
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  • #429,585
  • Apr 26, 2016 1:47pm Apr 26, 2016 1:47pm
USDX H4 review

Dollar H4 and daily both look pretty weak into the FOMC Wednesday.

We are trading below week pivot and also strong overhead resistance, though the previous rail candles provided some support now it's still overall bearish,
but the direction is not very clear.

If we clear below support it's over for the bulls likewise push on H4 above resistance and WP might allow for further upside.
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  • #429,586
  • Apr 26, 2016 1:54pm Apr 26, 2016 1:54pm
back to GBP USD I think to have bias changed from bull to bear we need 2 solid day closes 80 points below open at least and a clear TL break.
  • #429,587
  • Apr 26, 2016 1:56pm Apr 26, 2016 1:56pm
Quoting Ill-b-back
{quote} yep, I'm short. If we come back to 45 tomorrow, I'll consider a long to 47. Late here, off to bed
update
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #429,588
  • Apr 26, 2016 1:58pm Apr 26, 2016 1:58pm
Quoting dean1star
{quote} well good luck to you .. not that it matters if i am right or wrong about this - however i am not convinced. It just sounds too easy which raises my suspicions and the question being what guides you to removing the opposite trade - if its any of the indicators on your chart then thats a complete no no in my simple opinion but again around here opinions are like noses - everyone has one ..
HI DEAN1sTAR
Basically I trade in the direction of the TREND CONFIRMED BY H1, H4 AND DAILY Charts. Regarding indicators on my chart those are simply for confirmation for proper entries only
  • #429,589
  • Apr 26, 2016 1:59pm Apr 26, 2016 1:59pm
in terms of ranges it's true month range is overstretched in GU, however quarter range is 1000 points, therefore potential high this quarter could be 1.5000 provided that 1.4000 was the low.
  • #429,590
  • Apr 26, 2016 2:03pm Apr 26, 2016 2:03pm
Quoting asgcorp
back to GBP USD I think to have bias changed from bull to bear we need 2 solid day closes 80 points below open at least and a clear TL break.
On 4H I am seeing a potentially good level to bounce up from if we get there.

Entry: 1.45170
SL: 1.44700
TP: 1.47940

47 pip risk
277 pip reward

6.8/1 RR

What do you think ASG?
  • #429,591
  • Apr 26, 2016 2:13pm Apr 26, 2016 2:13pm
working GBP USD H4 chart right now below. Pretty much any dips are limited to 4500 pre-FOMC and makes sense to be a buyer into the dips now.

below 4500 strong support areas: 4450 and 4320.

Overall gameplan pre-FOMC: buying into dips.

Post-FOMC strategy: should the TL break to downside I'd be taking a day off will be a best option. I'd wait for price to retrace further into 4300-4340 and will buy back upon confirmed buying interest based on H4. new swing higher target at least 4700+

Alternatively: FOMC is dovish triggers dollar sell off, GU will benefit but gains would be somewhat limited. If you bought into the dip previously wait for break of the upside resistance @ 4620 reasonable tp is 4700. Riskier trade and I don't really recommend this: break above 4620 resistance LONG SL 40 points TP 4700+.

I'll be heading flat into FOMC most likely however might also buy on the dips early into the day.
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  • #429,592
  • Apr 26, 2016 2:15pm Apr 26, 2016 2:15pm
Quoting Denden2012
{quote} On 4H I am seeing a potentially good level to bounce up from if we get there. Entry: 1.45170 SL: 1.44700 TP: 1.47940 47 pip risk 277 pip reward 6.8/1 RR What do you think ASG?
yeah makes good sense your entry is good.
  • #429,593
  • Apr 26, 2016 2:17pm Apr 26, 2016 2:17pm
average week range on GBP USD is 400 points. We had a low @ 4400. Potential high is 4800 this week. So yeah 4700-4800 is an option for sure.
  • #429,594
  • Apr 26, 2016 2:18pm Apr 26, 2016 2:18pm
Quoting Bones
thanks A ,so the supply were at needs to go for that to be demand {quote}
Hello bones,

yes, those are the rules of the method.

best wishes
Be careful what you think because your thoughts run your life..Solomon
  • #429,595
  • Apr 26, 2016 2:21pm Apr 26, 2016 2:21pm
Quoting Denden2012
{quote} On 4H I am seeing a potentially good level to bounce up from if we get there. Entry: 1.45170 SL: 1.44700 TP: 1.47940 47 pip risk 277 pip reward 6.8/1 RR What do you think ASG?
this is actually a very good plan. GBP USD will meet it's maker @ 4800-4850 no way we push above that we'd have to make a new leg lower to have any upside unlocked above 4850. Very significant resistance lies overhead @ 4800-4850.
  • #429,596
  • Apr 26, 2016 2:35pm Apr 26, 2016 2:35pm
generally not big into harmonic patterns but this one here on daily is pretty clean.

So bottomline: push higher make a new swing high 4800-4850 and then reverse for 4400.

Technically this looks very reasonable.
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  • #429,597
  • Apr 26, 2016 2:46pm Apr 26, 2016 2:46pm
thanks appreciate your posts ,but still we could think it would be bullish from there ,if it went without taking supply? then what are the rules wait confirmation


Quoting Akt
{quote} Hello bones, yes, those are the rules of the method. best wishes
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #429,598
  • Apr 26, 2016 2:48pm Apr 26, 2016 2:48pm
Quoting asgcorp
{quote} this is actually a very good plan. GBP USD will meet it's maker @ 4800-4850 no way we push above that we'd have to make a new leg lower to have any upside unlocked above 4850. Very significant resistance lies overhead @ 4800-4850.
Thanks, I'm learning from the best with the knowledge I have gathered.
  • #429,599
  • Apr 26, 2016 2:53pm Apr 26, 2016 2:53pm
guys check out USDTRY daily and tell me it's not ripe for a big sell off.
  • #429,600
  • Apr 26, 2016 2:57pm Apr 26, 2016 2:57pm
Quoting SteFX85
{quote} {quote} Instead of laughing at people why not try to give some positive feedback. You look like a serious idiot to me.

Positive feedback is profit, Champ.

This ain't kindercare and I'm nobody's mom.

If you need coddling, this may not be the place for you.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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