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Cable Update (GBPUSD)

  • #437,701
  • Aug 24, 2016 8:24am Aug 24, 2016 8:24am
3260 area for me if it looks good to short 78% retrace is about there if I recall this mornings chart
  • #437,702
  • Aug 24, 2016 8:28am Aug 24, 2016 8:28am
Quoting Dr.Phoenix
{quote} Thanks, PowerTrade. I must say GU is a new pair to me; I like trade EU mostly... Right now I have a difficult situation on EU, so I must dissolve it out. Best D.P.
Good m8! Keep your money.

KP
Do your homework, follow the footprints of smart money
  • #437,703
  • Aug 24, 2016 8:29am Aug 24, 2016 8:29am
Quoting PowerTrade
{quote} Good insight, but I see it differently in daily charts, in fact downtrend keeps since september 2015. What do you think?
We have been in a bull trend since 15th of August and I'm not going to try and predict where it will fail, if there is some political will from the people in power to fight to keep Britain afloat then I see 1.2800 as the bottom. If they give up and accept defeat then Cable could just keep heading south to it's all time low in 1985 of 1.0400.....

I'd like to see it get to either 3370 or 3480 before pulling back 200 to 300 pips...depends on Fundamentals for those kinds of moves..
Don't Leave Money on the Table
  • #437,704
  • Aug 24, 2016 8:37am Aug 24, 2016 8:37am
Quoting PowerTrade
{quote} Good insight, but I see it differently in daily charts, in fact downtrend keeps since september 2015. What do you think?
Also looking at Daily chart I think the downtrend started earlier than that......at 1.7186 on 14th July 2014

Just think some Canny trader out there probably held or is still holding a short position on Cable since that day....
Don't Leave Money on the Table
  • #437,705
  • Aug 24, 2016 8:41am Aug 24, 2016 8:41am
Quoting PowerTrade
{quote} Good insight, but I see it differently in daily charts, in fact downtrend keeps since september 2015. What do you think?
Look at the Weekly. Last week's attempt at the bottom made a higher low than the first week of July. It's still thin summer market so we aren't getting much commitment for a larger move, but if price can get above 1.3360 my target would be 1.3660.

Everyone is positioning ahead of the Jackson Hole, which should give us medium term direction.
  • #437,706
  • Aug 24, 2016 8:43am Aug 24, 2016 8:43am
Lock in 32600 unexpectedly.

Best
D.P.
Hunting High and Low
  • #437,707
  • Aug 24, 2016 8:52am Aug 24, 2016 8:52am
gbp/usd is totally doing the opposite of eur/gbp
  • #437,708
  • Aug 24, 2016 8:55am Aug 24, 2016 8:55am
waiting for the doji or bullish hammer on broken H4 trend line on eur/gbp
  • #437,709
  • Aug 24, 2016 9:03am Aug 24, 2016 9:03am
Quoting actionmoney
{quote} You can start selling by 3pm Nigerian time; which is GMT+2 it is 12:41PM here now.
really broh,whats the tech for that move?
  • #437,710
  • Aug 24, 2016 9:05am Aug 24, 2016 9:05am
i am waiting higher
  • #437,711
  • Aug 24, 2016 9:06am Aug 24, 2016 9:06am
Above the trend line already who sell now
  • #437,712
  • Edited 9:27am Aug 24, 2016 9:12am | Edited 9:27am
Quoting Mayly-May
{quote} Now 1.32xx that why i'm not sell i think it go up but maybe down to make new high and this time not down and go flying maybe 1.33xx
400 point to 1.33xx mission complete but i'm closed lol happy profit

i don't see any signal or system to sell now maybe seller need to wait a "shooting star formation frist" when the graph slow glowing the end of trend must be shooting star 95%

Attached Image (click to enlarge)
Click to Enlarge Name: shooting star.gif Size: 4 KB


Now buy scalping i really work for play this time (with sl)
  • #437,713
  • Aug 24, 2016 9:18am Aug 24, 2016 9:18am
Quoting actionmoney
WE ARE HEADING SOUTH...
really,what makes you so confident about this ?
  • #437,714
  • Aug 24, 2016 9:19am Aug 24, 2016 9:19am
Quoting Mayly-May
{quote} 400 point to 1.33xx mission complete but i'm closed lol happy profit
Well done Mayly-May on your trading success so far and for your future successes....
Don't Leave Money on the Table
  • #437,715
  • Aug 24, 2016 9:19am Aug 24, 2016 9:19am
Quoting aarontdang
{quote} Why are you short right at strong support?
Yep. Didn't think it would go. got out +5
Just 20 pips a day to riches
  • #437,716
  • Edited 9:33am Aug 24, 2016 9:22am | Edited 9:33am
So, the price is being pushed higher.

I additionally set a sell limit at 32800, just in case. we shall see.

Best
D.P.

P.S. The target might be the same, but might be shifted a little bit higher.

EDITED. Does anybody know where LOCK and USDollar are?
Hunting High and Low
  • #437,717
  • Aug 24, 2016 9:24am Aug 24, 2016 9:24am
GU Long 1.32579 Target 1.33100
Just 20 pips a day to riches
  • #437,718
  • Edited 9:48am Aug 24, 2016 9:35am | Edited 9:48am
prepare to add buy Euro/usd 1.122xx tp 1.125-130 if wrong maybe add 1.119 old tp....... that next plan i did in this day

i'm not sure but "USDINDEX" is higher maybe usdindex touch the resistance and will go down some point that why make gbp to higher next

Now index 94.82 maybe 94.92 will down
  • #437,719
  • Aug 24, 2016 9:42am Aug 24, 2016 9:42am
long 3247 long
  • #437,720
  • Aug 24, 2016 9:54am Aug 24, 2016 9:54am
short @ 1.3243
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