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Cable Update (GBPUSD)

  • #442,481
  • Oct 5, 2016 2:42am Oct 5, 2016 2:42am
Quoting USD-charts
I think we might have hit bottom, but Im really not sure. This is new territory and all. This is 15 minute view.
So - you look @ 15 minute chart and can say it might have bottomed? Now what? Long with TP1 1000 pips, TP2 2000 pips, cause it bottomed = trend is about to change?

It has broken serious support levels and havenīt been this low for 3 decades, it has more room to fall. It doesnīt fall directly, there are some pull backs, they might be even hundreds of pips but I think itīs not a reason to take a risk and expose your capital to the market.

You should go short only on this pair until weekly pullish pin or strong engulfing candle.
Please add more indicators, I still see the real price! Thanks!
  • #442,482
  • Oct 5, 2016 2:47am Oct 5, 2016 2:47am
Quoting Crackpot
{quote} So - you look @ 15 minute chart and can say it might have bottomed? Now what? Long with TP1 1000 pips, TP2 2000 pips, cause it bottomed = trend is about to change? It has broken serious support levels and havent been this low for 3 decades, it has more room to fall. It doesnt fall directly, there are some pull backs, they might be even hundreds of pips but I think its not a reason to take a risk and expose your capital to the market. You should go short only on this pair until weekly pullish pin or strong engulfing candle.

Chill dude,

H4 is bottoming, bounce is due

It may rise 200 pips or so, its enough for the longs

But depending on this GBP week news and NFP it could easily reverse

Time will tell
Make money by doing the opposite of Giveachance aka loser
  • #442,483
  • Oct 5, 2016 2:55am Oct 5, 2016 2:55am
Quoting Crackpot
{quote} So - you look @ 15 minute chart and can say it might have bottomed? Now what? Long with TP1 1000 pips, TP2 2000 pips, cause it bottomed = trend is about to change? It has broken serious support levels and havent been this low for 3 decades, it has more room to fall. It doesnt fall directly, there are some pull backs, they might be even hundreds of pips but I think its not a reason to take a risk and expose your capital to the market. You should go short only on this pair until weekly pullish pin or strong engulfing candle.
No that blue line was part of a channel I had drawn a couple of days ago, its what would make me think of looking for possible longs, I still dont have a solid setup hence I mentioned its 15 minutes. As I said in my post Im not 100% because the average technicals are really going to work.

The whole brexit saga can cause great damages to any long, I mean when Theresa May came and delivered her speech things havent looked the same and we dont know exactly how they will react.

Then theres the NFP and how it would affect this pair, could be short term gain now just to drop on NFP or keep dropping to rise with it.
  • #442,484
  • Oct 5, 2016 3:06am Oct 5, 2016 3:06am
Quoting Ill-b-back
Or perhaps just a bear
Fair play - that's funny
  • #442,485
  • Oct 5, 2016 3:12am Oct 5, 2016 3:12am
https://www.bindmans.com/news/people...t-defence-in-b


seems like legal yader. but the gist, correct me if im wrong, that the judge ruled that triggering article 50 has to go thru parliament?


https://www.theguardian.com/politics...ples-challenge

another source says oct13?
  • #442,486
  • Oct 5, 2016 3:15am Oct 5, 2016 3:15am
Mrs May being strong on article 50 saying it will be done by March 2017.

Makes you wonder will a lengthly legal challenge be an excuse for not triggering article 50 by this date? Hmm
  • #442,487
  • Oct 5, 2016 3:20am Oct 5, 2016 3:20am
if h4 closed bull pin bar, sure it will be sign for reversal.
Trade with knowledge
  • #442,488
  • Oct 5, 2016 3:23am Oct 5, 2016 3:23am
Quoting SadiaQureshi
{quote} how much down it may go, according to your idea ??
i see news first leg up will be.
  • #442,489
  • Oct 5, 2016 3:24am Oct 5, 2016 3:24am
Quoting el_duende
Mrs May being strong on article 50 saying it will be done by March 2017. Makes you wonder will a lengthly legal challenge be an excuse for not triggering article 50 by this date? Hmm

if the articles are true, she might not even survive in office till march lol
  • #442,490
  • Oct 5, 2016 3:29am Oct 5, 2016 3:29am
Supreme Court decision on the 17th I think..
  • #442,491
  • Oct 5, 2016 3:30am Oct 5, 2016 3:30am
Quoting NaimFx
if h4 closed bull pin bar, sure it will be sign for reversal.
probably just interim .
Target for cable is bellow 1.26 IMO , ratiowise
  • #442,492
  • Oct 5, 2016 3:34am Oct 5, 2016 3:34am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h4-admiral-markets.png Size: 58 KB
Please add more indicators, I still see the real price! Thanks!
  • #442,493
  • Edited 4:00am Oct 5, 2016 3:44am | Edited 4:00am
We have BOEs Broadbent speaking at same time Servies PMI came out and seems his speech is quite dovish hence Cable pulling back from it's highs after better than expected PMIs...

All bets are off as to when we bottom out but yes a pin bar on the 4 hour could signal a retrace of a hundred pips or so....be nice to have a bull rally for a change as they always engender a bit of good cheer, all this southward movement only engenders a dour pall over Cable...

http://news.forexlive.com/!/cable-ru...-data-20161005
Don't Leave Money on the Table
  • #442,494
  • Oct 5, 2016 3:49am Oct 5, 2016 3:49am
Quoting Derivative92
Supreme Court decision on the 17th I think..
This is big news. If court rules for the people then brexit is likely to be off as I would be suprised if it gets voted through in parliament.
  • #442,495
  • Oct 5, 2016 4:02am Oct 5, 2016 4:02am
I'm also looking to go long until NFP.

It's hit rock bottom 8 candles ago and that was their bearish goodbye kiss.

Target around 2860/2915.
  • #442,496
  • Oct 5, 2016 4:11am Oct 5, 2016 4:11am
Quoting uncletrumpet
{quote} http://www.forexfactory.com/showthre...22#post9178222 hi i need this ea buddy thanks
Hi
Its on Oanda tools
  • #442,497
  • Oct 5, 2016 4:16am Oct 5, 2016 4:16am
Quoting HaLBot
We have BOEs Broadbent speaking at same time Servies PMI came out and seems his speech is quite dovish hence Cable pulling back from it's highs after better than expected PMIs... All bets are off as to when we bottom out but yes a pin bar on the 4 hour could signal a retrace of a hundred pips or so....be nice to have a bull rally for a change as they always engender a bit of good cheer, all this southward movement only engenders a dour pall over Cable... http://news.forexlive.com/!/cable-ru...-data-20161005...
Last decent green 4 hour candle was on the 29th Sept and was only 44 pips, shows how weak Cables become...
Don't Leave Money on the Table
  • #442,498
  • Oct 5, 2016 4:24am Oct 5, 2016 4:24am
Quoting el_duende
Mrs May being strong on article 50 saying it will be done by March 2017. Makes you wonder will a lengthly legal challenge be an excuse for not triggering article 50 by this date? Hmm
Surely the RULE of Law takes precedent as the principle here as it governs the whole nation as opposed to being governed arbitrary. Government officials may have their opinions, but as a democracy the rule of law should stand, thus in principle confirming that the vote of the nation stands as the result was lawfull.

The rule of law is the legal principle that law should govern a nation, as opposed to being governed by arbitrary decisions of individualgovernment officials. It primarily refers to the influence and authority of law within society, particularly as a constraint upon behaviour, including behaviour of government officials.
  • #442,499
  • Oct 5, 2016 4:42am Oct 5, 2016 4:42am
Quoting dean1star
{quote} Surely the RULE of Law takes precedent as the principle here as it governs the whole nation as opposed to being governed arbitrary. Government officials may have their opinions, but as a democracy the rule of law should stand, thus in principle confirming that the vote of the nation stands as the result was lawfull. The rule of law is the legal principle that law should govern a nation, as opposed to being governed by arbitrary decisions...
This is the problem as far as I understand.

The democratic referendum vote was not legally binding but more of the countries opinion and recomendation. Parliament members would then have to vote on the motion using the referendum as a guide.

Brexit vote was a close thing and we know leave was a shock as most MP's were more for remain than leave.

If the legal challenge is upheld and MP's need to vote on the matter then I would expect remain to win the vote.

This could be a game changer.

I am suprised it not making more news stories.
  • #442,500
  • Oct 5, 2016 4:43am Oct 5, 2016 4:43am
Quoting dean1star
{quote} Surely the RULE of Law takes precedent as the principle here as it governs the whole nation as opposed to being governed arbitrary. Government officials may have their opinions, but as a democracy the rule of law should stand, thus in principle confirming that the vote of the nation stands as the result was lawfull. The rule of law is the legal principle that law should govern a nation, as opposed to being governed by arbitrary decisions...
It depends if they seek to view it as advisory like the Scottish referendum and conclude it in Parliament. The vote was so narrow.
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