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Cable Update (GBPUSD)

  • #440,461
  • Sep 15, 2016 2:25pm Sep 15, 2016 2:25pm
Quoting P.Action
1.3277 is very important for now. good short point with 1.2950 target {image}
Draw a tl from left of your high so the high before and then to the low pin see what you have then E
  • #440,462
  • Sep 15, 2016 3:12pm Sep 15, 2016 3:12pm
Quoting elbert3
{quote} Draw a tl from left of your high so the high before and then to the low pin see what you have then E
Well E , very weak close around last weeks low, still below weekly roll, may have to help your shorts out real soon lol, will be watching yesterdays high real close now , cheers all
  • #440,463
  • Sep 15, 2016 3:47pm Sep 15, 2016 3:47pm
Quoting elbert3
{quote} Draw a tl from left of your high so the high before and then to the low pin see what you have then E
Still have a few longs from 3184 ish area , obviously a poke up to yesterdays high would be a good profit area , with the fib extensions of this little swing being the next ones if not stopped out , will short yesterdays high the 1st time if and when it gets there with the extensions below being the tgts as per chart, good luck all
Attached Image (click to enlarge)
Click to Enlarge Name: GBP 2.jpg Size: 338 KB
  • #440,464
  • Sep 15, 2016 3:59pm Sep 15, 2016 3:59pm
Quoting P.Action
1.3277 is very important for now. good short point with 1.2950 target {image}
nice chart. i've pretty much got the same picture, except my 'system' is indicating a high likelihood of moving sideways a bit longer before possibly dropping -- similar target
  • #440,465
  • Sep 15, 2016 4:00pm Sep 15, 2016 4:00pm
#GBPUSD so far good sup level have been holding but this party will come to an end soon.... I'm tighting stops now, and will cover tomorrow either at the london session or nyc session .... if my calculation are correct.... pound will sell off... lets see how it pans out
Attached Image
"W. D. Gann said that time is the most important factor among all things."
  • #440,466
  • Sep 15, 2016 4:02pm Sep 15, 2016 4:02pm
Quoting Wdfx
hehe... been to the pub, another 30 pips locked in. Not counted but around 200+ pips today
well done!, I'm impressed how some here can trade in and out this way.

my analysis put 15 Sep as a sideways chop for cable (1.3260 - 1.3160)... used the day to rearrange and consolidate positions.

i'm pretty much terrible at trading a small triangle or range, even if i see it coming.
  • #440,467
  • Sep 15, 2016 4:21pm Sep 15, 2016 4:21pm
that being said, 16 sep for me will continue on from 15 sep -- still looking to add on shorts from 1.3260-32.90

best of a trading day to you all
  • #440,468
  • Sep 15, 2016 5:05pm Sep 15, 2016 5:05pm
Quoting pursuit_21
{quote} nice chart. i've pretty much got the same picture, except my 'system' is indicating a high likelihood of moving sideways a bit longer before possibly dropping -- similar target
Maybe as you said it will be sideways. but i dont think so because other gbp pairs squeeze with triangle pattern. it means gbp break one way soon.

https://www.tradingview.com/x/TzxUhqOM/
https://www.tradingview.com/x/42D60Imy/
https://www.tradingview.com/x/N7y9rL7k/
https://www.tradingview.com/x/snm7QNJw/
  • #440,469
  • Sep 15, 2016 5:08pm Sep 15, 2016 5:08pm
Quoting P.Action
{quote} Maybe as you said it will be sideways. but i dont think so because other gbp pairs squeeze with triangle pattern. it means gbp break one way soon. https://www.tradingview.com/x/TzxUhqOM/ https://www.tradingview.com/x/42D60Imy/ https://www.tradingview.com/x/N7y9rL7k/ https://www.tradingview.com/x/snm7QNJw/
I hope you are right!
  • #440,470
  • Sep 15, 2016 5:14pm Sep 15, 2016 5:14pm
My EG view
Last couple of days showing signs of rejection off the retest
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 22 KB
Click to Enlarge Name: EURGBPWeekly.png Size: 19 KB
Come with me if you want to live....
  • #440,471
  • Sep 15, 2016 5:30pm Sep 15, 2016 5:30pm
Quoting pursuit_21
{quote} I hope you are right!
monthly bar need lower shadow. there is important support at 1.3000 i think we must touch at least that level in this month. i wait weekly close 1.3130. and last weekly bar is pinbar. general outlook seems south.
  • #440,472
  • Sep 15, 2016 5:36pm Sep 15, 2016 5:36pm
Lets face it: UK figures have been great
Retail sales in August - beat expected
Businesses seem to be doing well- CBI, PMI reports all doing well

The chances of BOE cutting rates at the moment are nil
I think the only reason they talked about cutting rates is to keep the pound low to help businesses

Looking at the US

Poor retail sales, poor everything really- -
Wage inflation missed, a miss on ISM Non-Manufacturing PMI, even the NFP missed this month
If Core CPI is 0% tomorrow or a miss- a hike cannot be on the table
If this was the UK you would be talking about a further cut- never mind a hike

I know these figures can go in cycles- but with the present data on the table - forget it

The FOMC is next week- how can they be hawkish next week
Even if they are - I don't think the market will believe it

ok rant over
  • #440,473
  • Sep 15, 2016 11:13pm Sep 15, 2016 11:13pm
Quoting pursuit_21
{quote} well done!, I'm impressed how some here can trade in and out this way. my analysis put 15 Sep as a sideways chop for cable (1.3260 - 1.3160)... used the day to rearrange and consolidate positions. i'm pretty much terrible at trading a small triangle or range, even if i see it coming.
Thanks pursuit, I had a good day. It all starts again today, hopefully I wont blow it. My view is today is that it will trade within the range of the last two days ie. 1.3280 -1.3140. What I haven't decided yet is if its going to go up first then down (more likely scenario) or down first then up. I also think it will finish the week roughly where we are at present. But who knows? I am more often wrong than right. I'll just watch them market and take a view as it goes along.
Striving for consistency
  • #440,474
  • Sep 15, 2016 11:30pm Sep 15, 2016 11:30pm
Market very delicately balanced at the moment. I'll go for the north pole, because the market will break at some point....3187 is the sweet spot to buy
I'm high on trading, cant you tell?
  • #440,475
  • Sep 15, 2016 11:50pm Sep 15, 2016 11:50pm
Looking to see if it takes out yesterdays low to 3170 before US data
Come with me if you want to live....
  • #440,476
  • Sep 16, 2016 12:01am Sep 16, 2016 12:01am
Quoting Fader123
Lets face it: UK figures have been great Retail sales in August - beat expected Businesses seem to be doing well- CBI, PMI reports all doing well The chances of BOE cutting rates at the moment are nil I think the only reason they talked about cutting rates is to keep the pound low to help businesses Looking at the US Poor retail sales, poor everything really- - Wage inflation missed, a miss on ISM Non-Manufacturing PMI, even the NFP missed this month If Core CPI is 0% tomorrow or a miss- a hike cannot be on the table If this was the UK you would...

That was a good rant fader....

UK economic news before Brexit was getting better bit by bit and I've said it before had Brexit happened 6 months later things would be very different. Yes UK economy is doing pretty good but theres nothing like the expectation of a US Fed rate rise to wet the appetites and soften the brains of traders across the globe....LOL
Don't Leave Money on the Table
  • #440,477
  • Sep 16, 2016 12:03am Sep 16, 2016 12:03am
Quoting Sammih
Market very delicately balanced at the moment. I'll go for the north pole, because the market will break at some point....3187 is the sweet spot to buy
I guess ur definition of balance here is, bears and bulls gonna have 100pips each btw 3270 and 3170.**wink
  • #440,478
  • Sep 16, 2016 12:04am Sep 16, 2016 12:04am
Small sell on ATM from 3222 targeting 3200 but depending on momentum might lower that to 3180 area....


Small order because I only got home from work....damn this day job but the work keeps the fat off.....
Don't Leave Money on the Table
  • #440,479
  • Sep 16, 2016 12:24am Sep 16, 2016 12:24am
Quoting HaLBot
Small sell on ATM from 3222 targeting 3200 but depending on momentum might lower that to 3180 area.... Small order because I only got home from work....damn this day job but the work keeps the fat off.....
3200 testing yesterday POC. Good decision as I have two positions ON, S and B.
The sell to be taken out @ 3200 and buy to be taken out @ 09:05 AM GMT +1 after Eur data is out.
  • #440,480
  • Sep 16, 2016 12:31am Sep 16, 2016 12:31am
Quoting actionmoney
{quote} 3200 testing yesterday POC. Good decision as I have two positions ON, S and B. The sell to be taken out @ 3200 and buy to be taken out @ 09:05 AM GMT +1 after Eur data is out.

Sounds like a good plan, I'm thinking Cable might go down to 3180 for a couple of reasons, that is Traders are buying Eur/Gbp ATM and low from yesterday...


Also I use EMAs instead of MAs and their looking a bit weak ATM, a few turning bearish....
Don't Leave Money on the Table
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