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Cable Update (GBPUSD)

  • #434,461
  • Jul 13, 2016 10:40pm Jul 13, 2016 10:40pm
maybe your w1 closed on a Sunday night ,
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  • #434,462
  • Jul 13, 2016 10:41pm Jul 13, 2016 10:41pm
Quoting Mulegrinder
{quote} Hi Tao - Do you have an estimated price point on when the correction will end? Thank you for your help, Mule
For the 1-hour time frame I have a chart for you showing a wave 4 ending, and the start of a wave 5 going down. The correction on the longer time frame has ended in my opinion, unless the fundamentals step in and shake the price up again.....but I still say the PA is down.
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  • #434,463
  • Jul 13, 2016 10:45pm Jul 13, 2016 10:45pm
Quoting Bones
maybe your w1 closed on a Sunday night , {image}
I dont think i understood that sorry :-(. Can you explain please :-)
  • #434,464
  • Jul 13, 2016 10:48pm Jul 13, 2016 10:48pm
your brexit candle has no lower wick like mine , the answer to what weekly looks like its piercing line now ,it can change to engulf ,or inverted hammer ,
be happy look end of week,we could judge what next on weekly TF ,if the low went would be super bearish at this point

Quoting TaoTrader
{quote} I dont think i understood that sorry :-(. Can you explain please :-)
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  • #434,465
  • Jul 13, 2016 10:58pm Jul 13, 2016 10:58pm
Quoting Bones
your brexit candle has no lower wick like mine , the answer to what weekly looks like its piercing line now ,it can change to engulf ,or inverted hammer , be happy look end of week,we could judge what next on weekly TF ,if the low went would be super bearish at this point {quote}
You have to look closely my Brexit candle is the long one it has a lower wick.....the 2 after it also have lower wicks. The weekly right now for this pair is not a reliable indicator because of the upward correction. Its not as important right this second as the 1 hour, 4 hour, and daily time frames. On a broader scale yes, but just right now its in limbo waiting on PA to confirm the downward movement.
  • #434,466
  • Jul 13, 2016 11:03pm Jul 13, 2016 11:03pm
Quoting Bones
I'm wondering why your long red w1 hasn't a lower wick ,main thing is no way I'm trading against the 2 day I posted ,but your right monthly is bearish,see if open today can hold as shaven tweezer ,first h4 is that there is an open gap a lot higher {quote}
If you're talking about the red candle just behind the most recent blue candle, its just blurred out by the retracement line i've drawn but its still there. Yep yep let's see what happens!
  • #434,467
  • Jul 13, 2016 11:25pm Jul 13, 2016 11:25pm
Quoting TaoTrader
{quote} I guess i don't really understand what you mean about the 4-hour breaking 1.3501. That's a pretty steep move up even for the monthly time frame. I just don't see that happening at all. But its always a possibility. I apologize if I came off rude I didn't mean to. I agree there is beauty in diversity! Do you have any charts to illustrate your prediction about the topside PA for 1.3501? Im curious :-)
There you go. Be Wary GBP potential spike news coming at London opening!
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  • #434,468
  • Jul 14, 2016 1:01am Jul 14, 2016 1:01am
BOE hints a rate cut. Still can long on GU?
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  • #434,469
  • Jul 14, 2016 1:12am Jul 14, 2016 1:12am
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Pound made the good resistance zone yesterday and before yesterday. I think it will enough for down move. at the bottom we also have support zone and it first target.
  • #434,470
  • Jul 14, 2016 1:31am Jul 14, 2016 1:31am
Quoting drpips1
BOE hints a rate cut. Still can long on GU?
If you are long I'd say make sure its for a spike or a longer retracement but that's it. Right now the daily keeps ranging around the 38.2 retracement level. A corrective movement that's totally expected.
  • #434,471
  • Jul 14, 2016 1:36am Jul 14, 2016 1:36am
Quoting iamawaited
{quote} There you go. Be Wary GBP potential spike news coming at London opening! {image}
I dont really understand all the info on your chart. My 4 hour chart looks a lot different than yours. Is this screenshot a "zoomed out" view? I studied your chart for a while trying to follow your PA, and it seems like you're starting on the lower time frames to do your analysis. If so, then we are in disagreement because as I mentioned to someone earlier if you start on the lower time frame you will see an uptrend in this instance where there really is NOT one. If i'm wrong about your approach I apologize.
  • #434,472
  • Jul 14, 2016 1:43am Jul 14, 2016 1:43am
Quoting Dr.Zain
{quote} Might touch 3105 again!!!
baldmonk,,, The Pair touched Exactly 3105 @04:00 GMT!!!
  • #434,473
  • Edited 3:48am Jul 14, 2016 2:31am | Edited 3:48am
correction targets go to 1.3532, 3679 & 3979 minimum perhaps , even it try for 1.4560 ok too before the next decision> huge down & hold or cancel bear for now yrs .. Take care , fontu .
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  • #434,474
  • Jul 14, 2016 2:32am Jul 14, 2016 2:32am
i have been see BOJ and EU cut rate i see currency will be drop down short time and next go up
but this it forex maybe down to 1:1 Eu/gbp or fly to 1.4-6 or not happen just swing and back to old point

but i'm still some buy and pray haha

good luck all trader make some money to relax in weekend
  • #434,475
  • Jul 14, 2016 2:38am Jul 14, 2016 2:38am
Quoting Mayly-May
i have been see BOJ and EU cut rate i see currency will be drop down short time and next go up but this it forex maybe down to 1:1 Eu/gbp or fly to 1.4-6 or not happen just swing and back to old point but i'm still some buy and pray haha good luck all trader make some money to relax in weekend
So if its a BRC by a Quarter of a percent, is the market in support of the move, for either cheaper borrowing to increase liquidty, not that it is not already there or the lessor profit margin for savers which raises the question how worthless is fiat money these days wherever you keep it ..

Long on this one too .. 132 000
  • #434,476
  • Jul 14, 2016 2:52am Jul 14, 2016 2:52am
BOE rate cut or asset buying scheme has an 80% chance of taking affect today. The market has already priced this in so the rate cut will have less of an impact to when we see a surprise cut.

If BOE decide to hold the interest rate as it is, this would be the 'shock' for the market and will likely lead to further upside to G/U.
  • #434,477
  • Jul 14, 2016 3:02am Jul 14, 2016 3:02am
seems ready for a short
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  • #434,478
  • Jul 14, 2016 3:03am Jul 14, 2016 3:03am
be careful guys... that gap needs to be filled, some 430 pips away.
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  • #434,479
  • Jul 14, 2016 3:18am Jul 14, 2016 3:18am
i decide to close my trade seems it seems toi undecide
  • #434,480
  • Jul 14, 2016 3:38am Jul 14, 2016 3:38am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
GBPUSD M30

my view

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decide for yourself , green pips

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