Cable Update (GBPUSD) | Page 22357 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #447,121
  • Jan 9, 2017 1:42am Jan 9, 2017 1:42am
Quoting shimmering
Does anyone know why cable dropped with a gap over the weekend?
more than the gap..... is there a clear reason for this move down?!

my long went closed (minor loss). this area 1.21 is IMO a possible medium term support...

BUT

looks like there will be a continuation far down. let's see where it will stop and show support.

90% of traders use TA, indicators and prediction
  • #447,122
  • Jan 9, 2017 1:47am Jan 9, 2017 1:47am
In at 67 sl and short 60
  • #447,123
  • Jan 9, 2017 1:50am Jan 9, 2017 1:50am
Quoting elbert3
In at 67 sl and short 60
short grid, no SL

TP1 1.210
TP2 1.19x
  • #447,124
  • Jan 9, 2017 1:53am Jan 9, 2017 1:53am
Quoting shimmering
Does anyone know why cable dropped with a gap over the weekend?
the main reason will be the speech from Mrs. May that the UK does not want to remain in the single market as a result of Brexit.
  • #447,125
  • Jan 9, 2017 1:54am Jan 9, 2017 1:54am
Quoting openyoureyes
{quote} short grid, no SL TP1 1.210 TP2 1.19x
  • #447,126
  • Jan 9, 2017 1:58am Jan 9, 2017 1:58am
Critical price level for termination of wave iv of an(expanding) ending diagonal c red.
Setup for longs towards 1.2940 with SL at invalidation @ bottom of ii - for good Reward/Risk.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 9Jan17.png Size: 88 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #447,127
  • Jan 9, 2017 2:03am Jan 9, 2017 2:03am
Quoting shimmering
Does anyone know why cable dropped with a gap over the weekend?
Yes
  • #447,128
  • Jan 9, 2017 2:04am Jan 9, 2017 2:04am
Quoting skyhok
Critical price level for termination of wave iv of an(expanding) ending diagonal c red. Setup for longs towards 1.2940 with SL at invalidation @ bottom of ii - for good Reward/Risk. GBPUSD 9Jan17.png;2131194 {image}
Doji thick body thou on 1 hour ?? If it moves up gap fill 2300 2360 for now but let's see . E
  • #447,129
  • Jan 9, 2017 2:10am Jan 9, 2017 2:10am
Quoting shimmering
Does anyone know why cable dropped with a gap over the weekend?
Comments during Theresa May interview on Sunday morning inferring hard Brexit.

Rgds,
Angus
  • #447,130
  • Jan 9, 2017 2:18am Jan 9, 2017 2:18am
I see some possible hourly support lines.

1.2140 (static)
1.2050 and 1.2040 (dynamic).

just areas to watch.

weekly chart now (after the failure @1.24), is suggesting a 2nd leg to previous low but in case there is need to confirm that descending line, we might even see 1.10 printed soon.

Attached Image


While a quick reverse up from this 1.21 area to > 1.23 within this week, could mean an epic bull win. Not the case IMO.
90% of traders use TA, indicators and prediction
  • #447,131
  • Jan 9, 2017 2:30am Jan 9, 2017 2:30am
Considering the whole picture around.... I better stay away from this instrument for a while.
At least as long as there will be a bit of stability and not a price moving 200pips down because of senseless reasons.
90% of traders use TA, indicators and prediction
  • #447,132
  • Jan 9, 2017 2:43am Jan 9, 2017 2:43am
On 5 min 2179 wick now becomes tl with bottom ant fall out from that line could could go short and take out the bottom ??
  • #447,133
  • Jan 9, 2017 3:05am Jan 9, 2017 3:05am
Quoting _BBKing_
we might even see 1.10 printed soon. {image}
Interesting that you should mention this level BB because I have the daily range low at 1.1814
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 98 KB
  • #447,134
  • Jan 9, 2017 3:09am Jan 9, 2017 3:09am
Last post for a while...
My hourly chart setup:
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_4 Hours_snapshot.png Size: 50 KB


the 1.2140 and 1.2154 are lines I will watch to buy if price goes lower and later will use them as support.
The descending channel and dotted TL are levels I expect market will retest and eventually bounce, which will be a first sign of possible support.
btw, the red channel seen in zoom out comes very very closed to that area pre - brexit:
Attached Image (click to enlarge)
Click to Enlarge Name: 2_Chart_GBP_USD_4 Hours_snapshot.png Size: 28 KB


There is nothing atm in any chart suggesting a possible move up, excluing that having no reasons is already a very good reason, and the belief to see price recovering from this area.

I highly expect price to move away up from these levels, but definetly not now. When it will, there will be sound reasons on charts e.g. a killer daily candle with a long pin on the lower side and a strong body breaking this price structure.

Good luck everyone
90% of traders use TA, indicators and prediction
  • #447,135
  • Jan 9, 2017 3:17am Jan 9, 2017 3:17am
Quoting Nala66
{quote} Interesting that you should mention this level BB because I have the daily range low at 1.1814 {image}
Yes definetly there is work to be done on the lower areas!
Will leave it for some days/weeks and see what happens
90% of traders use TA, indicators and prediction
  • #447,136
  • Jan 9, 2017 3:21am Jan 9, 2017 3:21am
I think this will go up to 1.2329 (blue line on MML and possibly wave 2) before resuming trend down to 1.10.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 36 KB
Lost....
  • #447,137
  • Jan 9, 2017 3:22am Jan 9, 2017 3:22am
On the day chart from the high of Friday to 2200 would be a good to put on a extention to the short side to see what we get watch out for 61% below the low and a possible retake of 2200 . If we can combine a 4 hour doji somewhere could look to be a strong bottom . ?? Or it will go to 161% I would think . At my site now so sorry no charts . Some kind trader might post one .xxx
  • #447,138
  • Jan 9, 2017 3:38am Jan 9, 2017 3:38am
Quoting elbert3
On the day chart from the high of Friday to 2200 would be a good to put on a extention to the short side to see what we get watch out for 61% below the low and a possible retake of 2200 . If we can combine a 4 hour doji somewhere could look to be a strong bottom . ?? Or it will go to 161% I would think . At my site now so sorry no charts . Some kind trader might post one .xxx
don't know what you exactly mean.
here some charts.

1. fib retracement 1.22 - 1.2430 with extension on lower side
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_4 Hours_snapshot.png Size: 16 KB

2. adding fib extension 1.27high - 1.22 - 1.2430
Attached Image (click to enlarge)
Click to Enlarge Name: 2_Chart_GBP_USD_4 Hours_snapshot.png Size: 22 KB

3. fib extension 1.27high - 1.25 - 1.27
Attached Image (click to enlarge)
Click to Enlarge Name: 3_Chart_GBP_USD_4 Hours_snapshot.png Size: 24 KB
90% of traders use TA, indicators and prediction
  • #447,139
  • Jan 9, 2017 3:55am Jan 9, 2017 3:55am
Isn't that strange BB your 161 fib retrace is the same as the Daily equilibrium swing shown in my Fridays post 447 111.

I don't even have a fib tool...weird or what?
  • #447,140
  • Jan 9, 2017 4:30am Jan 9, 2017 4:30am
17/01/09 MONDAY 11:25+1GMT
WEEKLY REPORT
Ubi maior minor cessat
1,534 traders viewing now, 1 is registered: