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Cable Update (GBPUSD)

  • #444,761
  • Nov 1, 2016 6:37am Nov 1, 2016 6:37am
Quoting Rag2RichesFX
{quote} 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 {image}
Thanks for the indie reference, 3 strong line at that level, what's so special at that price? Lol, GU needs lots of booze and weed to crack it. I guess NFP and the election would, coz trump is winning the election.
  • #444,762
  • Nov 1, 2016 6:37am Nov 1, 2016 6:37am
Quoting funzodundee
Sell gbp/usd target 122.15
Why?
  • #444,763
  • Nov 1, 2016 6:40am Nov 1, 2016 6:40am
Quoting yuddy
{quote} Thanks for the indie reference, 3 strong line at that level, what's so special at that price? Lol, GU needs lots of booze and weed to crack it. I guess NFP and the election would, coz trump is winning the election.
Yes Trump is clearly winning

However, I don't believe the establishment will let him win.

Anyway, I'm short GBP after being long. I will go long on dip or if we breakout of monthly pivot.

Ultimately I still think we are going back 1.25-1.30

Check this guy out...

http://www.forexfactory.com/aliqazi#acct.87

Probably demo considering from what I have heard, LiteForex is a scam broker.

Still, impressive none the less.
Be hopeful in a winning position, and fearful in a losing position.
  • #444,764
  • Nov 1, 2016 7:13am Nov 1, 2016 7:13am
Quoting FXClarity
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 {image} {image}
I agree that at some point cable will retrace. The questions is when? After the US election? After the expected US interested rate hike in December? After Article 50 is finally signed in the spring? Most of these factors point to it going down. The rest of the world need to see the UK as a good option. Unfortunately this will only happen when something bad happens else where and the UK is seen as a better bet. My bias is also still long but I am trying my best not to have a bias at present.
Striving for consistency
  • #444,765
  • Nov 1, 2016 7:26am Nov 1, 2016 7:26am
Quoting yuddy
{quote} Why?
Why not?
Job done
It's a big game.
  • #444,766
  • Nov 1, 2016 7:28am Nov 1, 2016 7:28am
SELL GBPUSD at 1.225...
Attached Image (click to enlarge)
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  • #444,767
  • Nov 1, 2016 7:56am Nov 1, 2016 7:56am
Quoting mrhb30jr
SELL GBPUSD at 1.225... {image}
Why?
  • #444,768
  • Nov 1, 2016 8:34am Nov 1, 2016 8:34am
Quoting yuddy
{quote} Why?
Hi Yuddy,

Price still below my pivot point at 1.2270 area .... may be i'm wrong

see the long candle occure confirm for the supply area if break out this area price will go higher ...
see the chart ....

cheers
Attached Image (click to enlarge)
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  • #444,769
  • Nov 1, 2016 8:44am Nov 1, 2016 8:44am
Quoting mrhb30jr
{quote} Hi Yuddy, Price still below my pivot point at 1.2270 area .... may be i'm wrong cheers
That is a good reason, unless it breaks that level, GU is still a bear party. Maybe US ISM could break that level
  • #444,770
  • Nov 1, 2016 8:46am Nov 1, 2016 8:46am
Sell: Gbp/usd 122.35
target 121.85
It's a big game.
  • #444,771
  • Nov 1, 2016 8:49am Nov 1, 2016 8:49am
GBP/USD is expected to remain in a consolidative range between 1.2080 and 1.2350 in near term.
Trend Index
Bearish
Oversold
  • #444,772
  • Nov 1, 2016 9:02am Nov 1, 2016 9:02am
this is so pathetically weak reaction to news..
  • #444,773
  • Nov 1, 2016 9:23am Nov 1, 2016 9:23am
another leg down to 1.2200 is coming
  • #444,774
  • Nov 1, 2016 9:34am Nov 1, 2016 9:34am
Quoting Wdfx
{quote} I agree that at some point cable will retrace. The questions is when? After the US election? After the expected US interested rate hike in December? After Article 50 is finally signed in the spring? Most of these factors point to it going down. The rest of the world need to see the UK as a good option. Unfortunately this will only happen when something bad happens else where and the UK is seen as a better bet. My bias is also still long but I am trying my best not to have a bias at present.
All fair and valid points.

...But I am a very patient man...My time horizon isn't intraday for these swing trades. I'll treat each trade set up the same and am happy to nurture it along - if that takes a while, that's fine. My days of being excited about watching candles turn from red to green and vice versa are long gone. Its just business now.

..And on that note - I've noticed this thread seems to favour a shorter term approach (why not) so I'll wish you all well for the future and get back to my own trading.

Thanks for having me for a while
  • #444,775
  • Nov 1, 2016 10:04am Nov 1, 2016 10:04am
Quoting Dr.Zain
GBP/USD is expected to remain in a consolidative range between 1.2080 and 1.2350 in near term. Trend Index Bearish Oversold
I guess there it shall stay until next year.
  • #444,776
  • Nov 1, 2016 10:06am Nov 1, 2016 10:06am
Can somebody pls explain why EU is flying high? It might wanna carry It's ex wife GU along.
  • #444,777
  • Nov 1, 2016 10:19am Nov 1, 2016 10:19am
Be prepared for another "FIX" today ,in the next minutes till London close
  • #444,778
  • Nov 1, 2016 10:20am Nov 1, 2016 10:20am
Quoting yuddy
Can somebody pls explain why EU is flying high? It might wanna carry It's ex wife GU along.
USD is weak.
  • #444,779
  • Nov 1, 2016 10:35am Nov 1, 2016 10:35am
Are you tracking cable? Consider the channels it is operating in. See attached. Trade safe.

KP

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Do your homework, follow the footprints of smart money
  • #444,780
  • Nov 1, 2016 10:55am Nov 1, 2016 10:55am
essentially the Americans have been slow to figure out Clinton can not be president
Attached Image (click to enlarge)
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