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Cable Update (GBPUSD)

  • #430,221
  • May 1, 2016 3:56pm May 1, 2016 3:56pm
Quoting Ill-b-back
{quote} Yeah correct, and like elbert suggests, I don't necessarily trust that Gap. I'm going to leave this pair alone for now and look at others.
EJ
  • #430,222
  • May 1, 2016 3:59pm May 1, 2016 3:59pm
Quoting Don96
{quote} what is this nonsense If you wouldn't mind Seems legit, I cant work out what some of it means though, accuracy could be a little better as well​

Anybody selling, is selling into demand...

We can see the support line, still...very clear.

Link.

Anything above this, is still long trend.

A single candle, unless engulfing is no sign of reversal.

Bear happy Cable Dwellers!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,223
  • May 1, 2016 4:00pm May 1, 2016 4:00pm
I do remember I started with a small experimental short tight stop
  • #430,224
  • May 1, 2016 5:04pm May 1, 2016 5:04pm
Quoting Don96
{quote} EJ
Hi Don, no I'm looking to see if we get a UC retrace to 2826 area to short. That monthly candle at the top, 3 black weekly crows and a weekly ABCD terminating around the 1.18xx support where weekly/monthly 200emas are also waiting on the ascending weekly TL makes it an attractive target. Shorted AU this morning, its' still above support but has come down from monthly TL and maxed out at 161.8 ext before reversing last month. AU still over valued I think, caught between supp/resistance. Will watch the daily this week to manage the trade. Mind you, I trade smaller sizes on higher TFs' to suit my schedule so happy to have drawdown without micro managing. Cheers.
Come with me if you want to live....
  • #430,225
  • May 1, 2016 8:40pm May 1, 2016 8:40pm
If nothing goes right

Go left
  • #430,226
  • May 1, 2016 9:32pm May 1, 2016 9:32pm
The 200 day EMA on the GBPUSD is around the 1.4657 level, the pair would have to break above the 1.4700 level in order to keep its bullish trend.
  • #430,227
  • May 1, 2016 10:07pm May 1, 2016 10:07pm
going short cable for a massive 100 pips to 1.45920
  • #430,228
  • May 1, 2016 10:21pm May 1, 2016 10:21pm
Buy order @1.4625, SL1.4600,TP 1.4711
  • #430,229
  • May 1, 2016 10:44pm May 1, 2016 10:44pm
Quoting Akt
{quote} Great question Don96, thank you. To answer it, yes, i only base my trades on supply and demand zones. Nothing else. The concepts are pretty much those of the economic concepts of supply and demand. The methodology looks at the current S-D curve to determine the most appropriate actions to take, based on the analysis of the current S-D curve. Now, when there are shifts in that curve to another curve, we simply shift with it. Demand zones below the demand zones we are buying at for example, will only come into play when there is a curve shift....
Hi Akt,
Interested in your view, supply n demand concept; any source or link to find out more on this? Do you use some external info like news etc or just price actions for supply n demand interpretations?

Thanks
...
  • #430,230
  • May 1, 2016 11:24pm May 1, 2016 11:24pm
for me no longs until it reaches my marked zone, counter short instead.
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I just don't post analysis I trade it .
  • #430,231
  • Edited 12:34am May 2, 2016 12:05am | Edited 12:34am
Broke Support now above support .
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  • #430,232
  • May 2, 2016 12:35am May 2, 2016 12:35am
sell gbp..........
first target 1.4500000000000000.............
joine me mql5.........
  • #430,233
  • May 2, 2016 12:42am May 2, 2016 12:42am
Quoting yelena
{quote} Shorted at 4660 (*Weekly R2) = 250-pip weekly candle = exhausted. Rarely do I go against the trend, but it looks highly probable. stop 4665 target 4610 waiting patiently
The pair hit my targets 1 and 2 without any hiccups .
  • #430,234
  • May 2, 2016 2:21am May 2, 2016 2:21am
Hello All,

I'm shorting GBPUSD now as I see that GBPUSD found its resistance in 1.4670 area.
What is your thought?
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  • #430,235
  • May 2, 2016 2:45am May 2, 2016 2:45am
Quoting forexcreed
Hello All, I'm shorting GBPUSD now as I see that GBPUSD found its resistance in 1.4670 area. What is your thought? {image}
Well, why not. If it can make pin bar around trend line even better. Good luck!
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  • #430,236
  • May 2, 2016 2:52am May 2, 2016 2:52am
I too think now is the time to short - the pair might retrace back to 1.4450. That said, even if it retraces I don't think that would be the end of the move to the upside, so even if I short it would be a very short-term position.
  • #430,237
  • May 2, 2016 3:10am May 2, 2016 3:10am
MY GBPUSD FORECAST
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  • #430,238
  • May 2, 2016 3:35am May 2, 2016 3:35am
GBPUSD M1 above demand area .... long

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  • #430,239
  • May 2, 2016 3:47am May 2, 2016 3:47am
Quoting artas444
MY GBPUSD FORECAST {image}
It seems to me that where you have a wave 1, there should be a continuation of the correction under the ABCDE. That is, the wave motion starts with the point that you have signed a 2. IMHO.

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  • #430,240
  • May 2, 2016 3:47am May 2, 2016 3:47am
USD M15 ... Under bearish pressure ....

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