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Cable Update (GBPUSD)

  • #444,741
  • Nov 1, 2016 1:27am Nov 1, 2016 1:27am
Quoting Rag2RichesFX
This is the area where bears should re-emerge. If not I think another 100 pips higher we will go. {image}
Nice chart, pls where do I get a free download of that indicator on ur chart that nicely draw the R, P, S?
  • #444,742
  • Nov 1, 2016 1:33am Nov 1, 2016 1:33am
Namaste! It is just inside of a Darvas box (sidways). I will wait for a breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Darvas box.png Size: 24 KB
  • #444,743
  • Nov 1, 2016 3:02am Nov 1, 2016 3:02am
EARLY MORNING REPORT
Ubi maior minor cessat
  • #444,744
  • Nov 1, 2016 3:11am Nov 1, 2016 3:11am
Cable just broke last weeks high at 2271
Striving for consistency
  • #444,745
  • Nov 1, 2016 3:11am Nov 1, 2016 3:11am
Early breakout before GB news? interesting

Hope we see 1.24xx/50 soon
Make money by doing the opposite of Giveachance aka loser
  • #444,746
  • Nov 1, 2016 3:19am Nov 1, 2016 3:19am
Quoting nessus94
Early breakout before GB news? interesting Hope we see 1.24xx/50 soon
Lets see if we can at least sustain the 2270 level for a while
Striving for consistency
  • #444,747
  • Nov 1, 2016 3:28am Nov 1, 2016 3:28am
Quoting Wdfx
Cable just broke last weeks high at 2271
It broke ,that is pre-news behavior .if it close above weekly PV ,oh well the bull season has returned .
  • #444,748
  • Nov 1, 2016 3:33am Nov 1, 2016 3:33am
Quoting yuddy
{quote} It broke ,that is pre-news behavior .if it close above weekly PV ,oh well the bull season has returned .
Huhhh!! That news just shifted to 1.30hr forward. Mtchewwww!!!
  • #444,749
  • Nov 1, 2016 3:33am Nov 1, 2016 3:33am
yep, got a funny feeling about 2365ish

Come with me if you want to live....
  • #444,750
  • Nov 1, 2016 3:54am Nov 1, 2016 3:54am
Hands up anyone who's just gone short to fade this second Bull Flag...I know you are out there...
  • #444,751
  • Nov 1, 2016 4:08am Nov 1, 2016 4:08am
Quoting FXClarity
Hands up anyone who's just gone short to fade this second Bull Flag...I know you are out there...
Quite risky I think.
I think bulls will be hunting the monthly pivot and maybe 2365 area
Come with me if you want to live....
  • #444,752
  • Nov 1, 2016 4:09am Nov 1, 2016 4:09am
I believe 1.22 80 is a terminal move of this bull move of last few days. I might be wrong, but I will be a seller
at 1.22 15 on stop
  • #444,753
  • Nov 1, 2016 4:11am Nov 1, 2016 4:11am
Given up predicting what is going to happen. Although if the news is good I'll be long but only following price action.
Striving for consistency
  • #444,754
  • Nov 1, 2016 4:31am Nov 1, 2016 4:31am
Quoting FXClarity
Hands up anyone who's just gone short to fade this second Bull Flag...I know you are out there...
I have a sell position @1.2260 and sell stop @1.2240
Letting losses run is the most serious mistake made by most investors.
  • #444,755
  • Nov 1, 2016 4:57am Nov 1, 2016 4:57am
Quoting yuddy
{quote} Nice chart, pls where do I get a free download of that indicator on ur chart that nicely draw the R, P, S?
google ACBForexTrading pivot indicator, that website has it

monthly pivot, weekly r1, daily r1 were all clustered within 6 pips of each other and price was hammered from these levels.

this is the busiest week of the year for news/data

5 central bank meetings, NFP and the election
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #444,756
  • Nov 1, 2016 5:04am Nov 1, 2016 5:04am
These levels of unfinished business above will be met - It forms the core of the trading strategy I've executed for a long time now - the challenge sits in scaling in the entries and managing leverage and drawdown until it turns.

At the risk of trading an opinion...Cable is at Multi Year Lows and when I see something at multi year lows I'm gearing up for a retrace.

Added - These are the conservative 1st targets for my strategy - there is another level at 1.2914
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 41 KB
Click to Enlarge Name: GBPUSDM30_2.png Size: 37 KB
  • #444,757
  • Nov 1, 2016 5:19am Nov 1, 2016 5:19am
GBP/USD is testing the resistance at 1.2250. I think that if it breaks out above that level it will reach 1.2330 again.
  • #444,758
  • Nov 1, 2016 5:31am Nov 1, 2016 5:31am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 125 KB
  • #444,759
  • Nov 1, 2016 5:49am Nov 1, 2016 5:49am
We need to be very patient with GBP
Make money by doing the opposite of Giveachance aka loser
  • #444,760
  • Nov 1, 2016 6:16am Nov 1, 2016 6:16am
Sell gbp/usd
target 122.15
It's a big game.
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