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Cable Update (GBPUSD)

  • #430,821
  • May 14, 2016 4:18am May 14, 2016 4:18am
Quoting wizlon32
{quote} Agreed. .4189 would be the 61.8 Fib retrace of the last LL to the recent HH. A retrace of between 61.8 and 78.6 would be ideal in my opinion. The lower TL which connects the last 2 prominent Lows runs through that area as well so seems like a logical target. {image}
is there any possibility GBP back to 1.454xx..?
Libenter homines id quod volunt credunt
  • #430,822
  • May 14, 2016 4:29am May 14, 2016 4:29am
Quoting baliprada
{quote} is there any possibility GBP back to 1.454xx..?
Of course. We have had our 1st higher High on the Daily TF since June 2015. The current retracement lower is all part of the process and a bounce from the lower TL / 61.8 Fib area could see a much higher bounce to the upside. Obviously we have Brexit crap weighing down on GBP but when that is out of the way I personally think the pound will be bought heavily. I do not think we will leave the EU (but we will see).
Indentify > Plan > Accept > Execute
  • #430,823
  • May 14, 2016 4:32am May 14, 2016 4:32am
Quoting wizlon32
{quote} Of course. We have had our 1st higher High on the Daily TF since June 2015. The current retracement lower is all part of the process and a bounce from the lower TL / 61.8 Fib area could see a much higher bounce to the upside. Obviously we have Brexit crap weighing down on GBP but when that is out of the way I personally think the pound will be bought heavily. I do not think we will leave the EU (but we will see).
Thanks wizlon32

Good luck mate

(i've been taking a long position at 1.4350)
Libenter homines id quod volunt credunt
  • #430,824
  • Edited 7:43am May 14, 2016 5:00am | Edited 7:43am
Quoting Don96
{quote} without lower than 1.445x closes I have that even on hour TF, minimal 1.47x up to 1.4814x for bulls, even 1.43x provides same figures. high has to be taken though, not sure it will be done today/tonight, doubt 1.4618 will hold for much longer {image}

same levels posted before as on the charts now
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  • #430,825
  • May 14, 2016 5:21am May 14, 2016 5:21am
Quoting baliprada
{quote} Thanks wizlon32 Good luck mate (i've been taking a long position at 1.4350)
I hope it holds for you guys. If its going to bounce it will be at 4355. If not I think next leg down will be to 4160-4200ish
Trust the Market
  • #430,826
  • Edited 9:22am May 14, 2016 6:32am | Edited 9:22am
Quoting Hawkins
{quote} I hope it holds for you guys. If its going to bounce it will be at 4355. If not I think next leg down will be to 4160-4200ish
.4355 has already been exceded. The current H1 chart is still making Lower Lows. Now maybe it will head straight up on Monday and not look back but at the moment there is no reason to think that it has turned.

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Indentify > Plan > Accept > Execute
  • #430,827
  • May 14, 2016 9:27am May 14, 2016 9:27am
Quoting Hawkins
{quote} I hope it holds for you guys. If its going to bounce it will be at 4355. If not I think next leg down will be to 4160-4200ish
maybe i will hedge for anticipation

thanks Hawkins & Good luck
Libenter homines id quod volunt credunt
  • #430,828
  • Edited 6:01pm May 14, 2016 5:16pm | Edited 6:01pm
seems
,the important number cable bulls is 1.4 for the trend to play out ,if your a looking to b a position trader next you want to see this find enough support to move higher ,real risk could be that no close over the highs this market is side,
week 3 ,but I'm interested early break or not
I think would confirm no head and shoulders pattern


Quoting wizlon32
{quote} Agreed. .4189 would be the 61.8 Fib retrace of the last LL to the recent HH. A retrace of between 61.8 and 78.6 would be ideal in my opinion. The lower TL which connects the last 2 prominent Lows runs through that area as well so seems like a logical target. {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,829
  • Edited 6:10pm May 14, 2016 5:48pm | Edited 6:10pm
thing is can $ make the leap ,to break the last month ,but overall the range has held re $ generally so far
Attached Image(s) (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,830
  • May 14, 2016 5:57pm May 14, 2016 5:57pm
Quoting Bones
seems if theres a trend it dose not start as you point out,the important number cable bulls is 1.4 for the trend to play out ,if your a looking to b a position trader next you want to see this find enough support to move higher ,real risk could be that no close over the highs this market is side, week 3 ,I think would confirm no head and shoulders pattern {quote} {image} {image} {image}
Thank you for your insight Bones.I must be honest and say that I do not fully understand everything that you are saying in your charts but I think I get the main points. It will be interesting to see how this plays out.
Indentify > Plan > Accept > Execute
  • #430,831
  • Edited 6:17pm May 14, 2016 6:05pm | Edited 6:17pm
well I guess given the frequency of the marking of highs and lows ,you would have a HL ,and thats the important one ,for any trend
also I'm pointing out it did go higher but it did not close higher,after 3 attempts to do so
in a nut shell its range but your thinking trend
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,832
  • May 14, 2016 6:12pm May 14, 2016 6:12pm
Quoting Bones
well I guess given the frequency of the marking of highs and lows ,you would have a HL ,and thats the important one ,also I'm pointing out it did go higher but it did not close higher,after 3 attempts to do so
Yes, I'm looking for another HL. I did get your point that it did not close higher. I am still very much learning Bones so thanks again.
Indentify > Plan > Accept > Execute
  • #430,833
  • Edited 6:35pm May 14, 2016 6:22pm | Edited 6:35pm
better for $ is lfx imo , maybe that small next ,but also that confirmation of previous ,it will go higher,could b to major zone
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,834
  • May 14, 2016 6:53pm May 14, 2016 6:53pm
Quoting Bones
well I guess given the frequency of the marking of highs and lows ,you would have a HL ,and thats the important one ,for any trend also I'm pointing out it did go higher but it did not close higher,after 3 attempts to do so in a nut shell its range but your thinking trend
Looking closely at my charts it seems that it did close higher.

Even if it didn't quite close higher than the February wicks, it did close higher than the feb close.

Surely if we're working off closes then we work off closes on both dates, and if we're working off wicks then we work off wicks on both dates?

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Indentify > Plan > Accept > Execute
  • #430,835
  • May 14, 2016 7:13pm May 14, 2016 7:13pm
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The shooting star was in a sideways market but worked out after tapping the weekly level above.
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  • #430,836
  • May 14, 2016 8:52pm May 14, 2016 8:52pm
Quoting Winston Reed
{image} The shooting star was in a sideways market but worked out after tapping the weekly level above. {image}
I take it you're still bearish as well?

I don't have any positions.. But the more I look at it I think GU is headed to 4260. There seems to be a lot of activity at the highs where as price has only dropped.
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Trust the Market
  • #430,837
  • May 15, 2016 3:31am May 15, 2016 3:31am
Quoting wizlon32
{quote} Agreed. .4189 would be the 61.8 Fib retrace of the last LL to the recent HH. A retrace of between 61.8 and 78.6 would be ideal in my opinion. The lower TL which connects the last 2 prominent Lows runs through that area as well so seems like a logical target. {image}
lets see later 4189 below that would be downtrend again ,and break the tl,
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look at gbj past posted cart on this was a bounce of the tl,it did go below my old one and i was sout, but had another go and looking to add here ,look left Mr S,,lol is that going to support ????, if so could take gu up , 5100 ish would be a target ,please other traders trade your own trade, as i have newbies asking me where it is going, if i 100% knew that i would have millions by now ,162,77 would be a target and if,,,,if so it will break that i would say but if,,if it does tp on the high and wait,, gbj can drop in a flash
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4 hour at this time i, hope thats ok regards E
  • #430,838
  • May 15, 2016 3:36am May 15, 2016 3:36am
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that thoughts for the day ,, gl
  • #430,839
  • May 15, 2016 5:34am May 15, 2016 5:34am
Can someone please explain me why there is always such a big gap than from previous month? I tried clicking on that little orange triangle for some explaining but nothing is popping up...


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  • #430,840
  • Edited 8:05am May 15, 2016 6:58am | Edited 8:05am
well thats a daily chart ,it failed that level x3 gave a over 200 pip outside candle no 3

Quoting wizlon32
{quote} Looking closely at my charts it seems that it did close higher. Even if it didn't quite close higher than the February wicks, it did close higher than the feb close. Surely if we're working off closes then we work off closes on both dates, and if we're working off wicks then we work off wicks on both dates? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 1 gbp USD d1 (DFB).png Size: 26 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
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