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Cable Update (GBPUSD)

  • #447,541
  • Jan 20, 2017 4:48pm Jan 20, 2017 4:48pm
Quoting KeenPips
{quote} Good luck m8! Imho, dojis don't work by themselves; order flow context is key. Trade safe and prosper. KP
Had a good run off the doji and that looks to be support for now ??? But as posted working inside the day candle but looking for any breakouts . Regards E
  • #447,542
  • Jan 20, 2017 5:01pm Jan 20, 2017 5:01pm
Quoting elbert3
{quote} Had a good run off the doji and that looks to be support for now ??? But as posted working inside the day candle but looking for any breakouts . Regards E
Howdy E , thinking we should blow thru the quarterly pivot this time , yellow x s mark the spot lol, red x s , may with a typical cable overshoot get tagged its last months candle wick top , daily and weekly close above the quarterly open should be bullish I reckon, ,,,,,,,,,,,,, bout lost my azz trying to get long down near the quarterly low, trump already paying dividends for me tho lol patience really is a virtue , , all good now , cheers man
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  • #447,543
  • Jan 20, 2017 6:57pm Jan 20, 2017 6:57pm
I hope you make some money those ways but for a tech newbie like me all these charts look like a joke. After what I just said not sure I'll get an answer : On Tuesday 24. Jan. there is a ruling about the trigger of Art. 50 by the Government or the Parliament. Nothing to do with May's promise a few days ago to submit the final deal to the Parliament in 2019.

So here my question : does any of your charts take that into account ? And in other words would the UK / GBP position remain strong if the Parliament had to decide about a possible Brexit instead of May's Government ?
  • #447,544
  • Edited 10:23pm Jan 20, 2017 9:23pm | Edited 10:23pm
Quoting Giusto
So here my question : does any of your charts take that into account ?
Absolutely not, we T.A. technicians simply look at the charts and trade accordingly, from a strictly technical analysis (T.A.) point of view, there is no "if this or that", just an entry point, a stop and an take profit target, that's all there is to it.

Personally I don't listen to politicians (all liars), I don't listen to financial TV shows (CNBC and the like), I don't read the WSJ, Barron's, Investors Business Daily, Financial Times and all that jazz (even though they do publish/broadcast some good articles/shows from time to time).

Just study the charts, they will tell what you need to know and they never lie.

Cheers and have a good weekend.
  • #447,545
  • Jan 20, 2017 9:26pm Jan 20, 2017 9:26pm
Quoting Giusto
I hope you make some money those ways but for a tech newbie like me all these charts look like a joke. After what I just said not sure I'll get an answer : On Tuesday 24. Jan. there is a ruling about the trigger of Art. 50 by the Government or the Parliament. Nothing to do with May's promise a few days ago to submit the final deal to the Parliament in 2019. So here my question : does any of your charts take that into account ? And in other words would the UK / GBP position remain strong if the Parliament had to decide about a possible Brexit instead...
If one could answer that question , probably wouldn't need charts at all, but what one can interpret from the charts is there was a lot of buying from 1.20ish lows ,,,,,,,,,, whether it was trades being closed because of the up coming news or a lot of buying coming in to offset the selling in reality it doesent matter , it was bullish close to the week,,,,,,,,,,,,,,, as far as the news Tuesday thats 2 1/3 trading days away, it isint like its a long process to close a trade,,,,,,,,, or open one , really dont think the market will quit moving till the news ,,,,,,,,,,,,,,,news , if you been trading long then you know its not the news ,,,,,,,,, its how it is interpreted by entities that have 100s of thousands of dollars to spend figuring out exactly how it should affect things ,,,,,,,,,,,,,, its also a chess game between those entities with the little retailer getting fleeced both ways if they are not careful,,,,,,,,,,,,, you say you are a tech newbie , why a newbie ,,,,,,, what you was using before not working,,,,,,, hit a rough patch,,,,,, or just adding to your tool box,,,,,,,, all these joke charts please enlighten us ,,,,,,,,,,,,,,side note , there is a few good traders in here, a belittling attitude probably not the best way to glean any answers especially with no clue as too what you were or are using before becoming a tech newbie.
  • #447,546
  • Jan 20, 2017 10:22pm Jan 20, 2017 10:22pm
Trump's inauguration speech may increase volatility but Gbp/Usd did not change much, still trading in a range, consolidation seems continue, strong resistance level can be found around 1.2415/2420 zone.
  • #447,547
  • Edited 10:59pm Jan 20, 2017 10:37pm | Edited 10:59pm
Quoting csc2009
strong resistance level can be found around 1.2415/2420 zone.
Resistance and support areas only exist in a particular time frame.

A perceived resistance could in fact be a support area, if you use a higher or lower time frame.

And vice versa for those so-called "support" areas.

Always mention the specific time frame you are using, directly or on your charts, otherwise your analysis has no meaning, no matter how relevant it is.
  • #447,548
  • Jan 21, 2017 2:08am Jan 21, 2017 2:08am
now we have a solid weekly as predicted
double bottom would be right if price starting trading in the zone above
on other data providers it looks better with the shorter wick
one thing I say without doubt is that low is super strong
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #447,549
  • Jan 21, 2017 2:18am Jan 21, 2017 2:18am
let's read that puppy in conjunction with the Q
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #447,550
  • Edited 2:56am Jan 21, 2017 2:28am | Edited 2:56am
May gave her plan ,the market liked it I liked it lol
She's setting herself up as hard-nosed unlike super softy cameron
mostly her speech copied my posts on the subject ??:-))
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  • #447,551
  • Edited 2:53am Jan 21, 2017 2:35am | Edited 2:53am
this tl is gone or going dont get tls that are liberal at all
whilst mine exists as a hurdle ,
price say to me no way

Quoting Mr Breakout
{quote} Ok, so how about this one here (see daily chart below)? Now we have an entirely different (and bearish) scenario... {image}
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  • #447,552
  • Jan 21, 2017 3:30am Jan 21, 2017 3:30am
Quoting Bones
this tl is gone or going dont get tls that are liberal at all whilst mine exists as a hurdle , price say to me no way {quote}
I just don't get your daily chart at all, this makes tls different.

Mine is respecting the green horizontal line where yours is all over the place.
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  • #447,553
  • Jan 21, 2017 4:01am Jan 21, 2017 4:01am
Hi Nala ,looks like a channel break on yours also ,you noted a good pivot ,that pivot wont hold
whats not to get

Quoting Nala66
{quote} I just don't get your daily chart at all, this makes tls different. Mine is respecting the green horizontal line where yours is all over the place. {image}
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  • #447,554
  • Jan 21, 2017 4:01am Jan 21, 2017 4:01am
The Pound had a very good week up against all peers on May's optimism!
  • #447,555
  • Jan 21, 2017 4:02am Jan 21, 2017 4:02am
show me your weekly and how you read it ?
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  • #447,556
  • Jan 21, 2017 4:05am Jan 21, 2017 4:05am
it can only retrace without higher ,im right with high probability ,look at the other similar size
only this looks way more bullish than that
Attached Image (click to enlarge)
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  • #447,557
  • Edited 4:37am Jan 21, 2017 4:10am | Edited 4:37am
it gapped down below that last then went straight up and closed above off of 12
seems super bullish to me GBP is undervalued big time
majority of data is green


Quoting Bones
It was particularly volatile week and difficult I guess In actual fact if you look last 10 candles which are quite large and mostly decent signals that should work... so its consolidating down being knocked back every time bulls try if the low goes now we will see free fall at very least the actual low whatever that is I posted that bearish candle was false the line of thinking is that one was entirely in traffic I could see free fall and hold Btw it closed on the low of last month and the low of last week {quote} {image} {image}
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  • #447,558
  • Jan 21, 2017 5:12am Jan 21, 2017 5:12am
Quoting Bones
show me your weekly and how you read it ?
Here is my weekly though I pay little attention to this being a long term event.
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  • #447,559
  • Jan 21, 2017 5:20am Jan 21, 2017 5:20am
Oh I forgot the how I read it bit...

I see we are still trading below the average so on this weekly chart there is little to indicate a long at this time.

A closing break into that last small green box would indicate going down to 1.15247.

Whereas a closing break above would indicate a possible change in trend direction, trading above the average to the 1.337 zone.

As I said these positions are weeks away and of little interest to me as a day trader.
  • #447,560
  • Jan 21, 2017 5:40am Jan 21, 2017 5:40am
ok no prob your not looking at PA
Ill let you know before it happens
its not going in your lower box without hitting your red average
be sure to quote me if im wrong


Quoting Nala66
Oh I forgot the how I read it bit... I see we are still trading below the average so on this weekly chart there is little to indicate a long at this time. A closing break into that last small green box would indicate going down to 1.15247. Whereas a closing break above would indicate a possible change in trend direction, trading above the average to the 1.337 zone. As I said these positions are weeks away and of little interest to me as a day trader.
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