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Cable Update (GBPUSD)

  • #444,521
  • Oct 26, 2016 4:16pm Oct 26, 2016 4:16pm
Here's my super duper prediction for 10/27

Price will drop to 1.2207 +/- 5 pips. Drop will occur at GBP news time

Rise to 1.2307 +/- 5 pips


lets see
  • #444,522
  • Oct 26, 2016 4:25pm Oct 26, 2016 4:25pm
I could be wrong as rain, but I'm convinced the bottom is in (at least for the foreseeable future) in Gbp/Usd, and that it will finish the week UP. I'm currently long from 1.2194. So far, so good. There may be one more big downflush in Gbp/Usd, but if it happens, I expect it to occur from higher levels, like maybe getting slammed back down a couple of hundred pips or so from 1.2500 before moving higher. This is more of a fundamental rather than a technical trade for me - I just think all the panic over Brexit has been massively overblown.
It's also worth looking at Gbp/Aud, which has been beaten to hell and back, but that recovered strongly today to close back above 1.6000. I'm long there from 1.5895, so I've got a bit of breathing room, thank God.
Writer, currency trader, madman
  • #444,523
  • Edited 5:23pm Oct 26, 2016 4:28pm | Edited 5:23pm
Bottoming with new low before reversal
Attached Image (click to enlarge)
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Elliott Wave for optimum entry, exit and risk management of trades
  • #444,524
  • Oct 26, 2016 5:42pm Oct 26, 2016 5:42pm
Quoting hilmy83
Here's my super duper prediction for 10/27 Price will drop to 1.2207 +/- 5 pips. Drop will occur at GBP news time Rise to 1.2307 +/- 5 pips lets see
sounds about right
Be hopeful in a winning position, and fearful in a losing position.
  • #444,525
  • Oct 26, 2016 6:11pm Oct 26, 2016 6:11pm
Rag - That sounds like a pretty solid prediction to me - they tested the 1.2200 level plenty of times over the past couple of days, so yeah, I'd expect it not to go lower than 1.2210 or so for tomorrow (unless, of course, the bottom just falls out), but to sustain a rally they've got to at least get well above 1.2250.
We'll see.
Writer, currency trader, madman
  • #444,526
  • Oct 26, 2016 6:32pm Oct 26, 2016 6:32pm
Quoting KeenPips
Watch this video below. How can it help you trade better? Note, I have no commercial relationship with the presenter or his group. KP https://www.youtube.com/watch?v=fv2GwGYShJw
good and accurate info
Be hopeful in a winning position, and fearful in a losing position.
  • #444,527
  • Oct 26, 2016 6:52pm Oct 26, 2016 6:52pm
I think price will continue up to 1.227-1.228 until before London session 27OCT (time for bear)
  • #444,528
  • Oct 26, 2016 8:27pm Oct 26, 2016 8:27pm
Quoting Peruvian80
it will go up again to 1.2240, i will wait for that and take a short again.
Well i just made my goal for the week. 2 trades of 20 pips each. Gbpusd is in a range and thats good for now.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #444,529
  • Oct 26, 2016 9:04pm Oct 26, 2016 9:04pm
Quoting hilmy83
Here's my super duper prediction for 10/27 Price will drop to 1.2207 +/- 5 pips. Drop will occur at GBP news time Rise to 1.2307 +/- 5 pips lets see
got part of that right, bit off on timing.

if the low of this day exceeds 1.2190 and actually close lower, this is a TROLL MARKET!
  • #444,530
  • Oct 27, 2016 12:55am Oct 27, 2016 12:55am
Inserted Video
  • #444,531
  • Oct 27, 2016 1:05am Oct 27, 2016 1:05am
EARLY MORNING REPORT
Ubi maior minor cessat
  • #444,532
  • Oct 27, 2016 1:52am Oct 27, 2016 1:52am
Hi everyone. My bias again is long today but who knows. Lets see what the market does when the UK opens. Hoping for a drop to below 1.2200 then a stall /reversal to find an entry point. Second consideration for entry is above 1.2230. Waiting patiently. Who knows I might end up short. I'll try and let the marker tell me and put by bias aside.
Striving for consistency
  • #444,533
  • Oct 27, 2016 2:52am Oct 27, 2016 2:52am
simplified view: either break of 200EMA 1H / trendline and fly or retest the lows.
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  • #444,534
  • Oct 27, 2016 3:04am Oct 27, 2016 3:04am
Try H4 close at 1.2204 ( now or next )or above or test 1.2160/34 next support or better say ,the bottom & more perhaps . Take care ,
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #444,535
  • Oct 27, 2016 3:31am Oct 27, 2016 3:31am
Added some intraday long we should be headed much higher.

UC ready for reversal as well.
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Be hopeful in a winning position, and fearful in a losing position.
  • #444,536
  • Oct 27, 2016 3:33am Oct 27, 2016 3:33am
Quoting Wdfx
Hi everyone. My bias again is long today but who knows. Lets see what the market does when the UK opens. Hoping for a drop to below 1.2200 then a stall /reversal to find an entry point. Second consideration for entry is above 1.2230. Waiting patiently. Who knows I might end up short. I'll try and let the marker tell me and put by bias aside.
Caught the move long at 1.2209 profit lock in, still running.
Striving for consistency
  • #444,537
  • Oct 27, 2016 3:35am Oct 27, 2016 3:35am
And of course swing account holding for 1.2450+, mostly locked in.
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Be hopeful in a winning position, and fearful in a losing position.
  • #444,538
  • Oct 27, 2016 3:36am Oct 27, 2016 3:36am
Quoting hilmy83
{quote} got part of that right, bit off on timing. if the low of this day exceeds 1.2190 and actually close lower, this is a TROLL MARKET!
where my props at bitches

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  • #444,539
  • Oct 27, 2016 3:39am Oct 27, 2016 3:39am
Quoting Rag2RichesFX
And of course swing account holding for 1.2450+, mostly locked in. {image}

Very good trades Rags
  • #444,540
  • Oct 27, 2016 3:41am Oct 27, 2016 3:41am
2307. by end of day. another reversal like on 10/25 i will curse this market to hell
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