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Cable Update (GBPUSD)

  • #448,481
  • Jan 30, 2017 4:41pm Jan 30, 2017 4:41pm
Quoting Mr Breakout
{quote} Yep, after these important financial news some traders will be laughing all the way to the bank. The others will be singing the Blues... https://www.youtube.com/watch?v=6s9M-52fRGU
that's cool music , love it
  • #448,482
  • Jan 30, 2017 4:43pm Jan 30, 2017 4:43pm
Quoting Mr Breakout
{quote} Yep, after these important financial news some traders will be laughing all the way to the bank. The others will be singing the Blues... https://www.youtube.com/watch?v=6s9M-52fRGU
Can't beat a bit of SRV!
  • #448,483
  • Jan 30, 2017 5:20pm Jan 30, 2017 5:20pm
Quick straw pole, whilst the market is quiet --

Do you use moving averages (of any type) on your charts and, on a scale of 1-10, what level of reliance/credibility do you place on them?
  • #448,484
  • Jan 30, 2017 5:24pm Jan 30, 2017 5:24pm
Quoting MXT
{quote} that's cool music , love it
Thanks, glad you like it, I love Blues and Jazz music.

Quoting Luzbay
Can't beat a bit of SRV
You bet.


Alright, cable approaching 1.25, I guess that's our last chance to get aboard this down breakout...
  • #448,485
  • Jan 30, 2017 5:30pm Jan 30, 2017 5:30pm
Quoting elbert3
{quote} Hi Nav long time buddy how is the plan going ? Regards B sorry late reply busy day
Was on holidays from trading. Not in living town for for 5 months, touring a lot.

Now back with a bang !
Intraday only.
  • #448,486
  • Jan 30, 2017 5:36pm Jan 30, 2017 5:36pm
Maybe a test of the last trendline breakout is possible and then again up to higher channel line, see example in my picture link

https://www.mql5.com/en/charts/65028...tional-limited
  • #448,487
  • Jan 30, 2017 6:14pm Jan 30, 2017 6:14pm
The cable is still trapped inside an ascending channel, breakout coming up....
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 168 KB
  • #448,488
  • Jan 30, 2017 6:59pm Jan 30, 2017 6:59pm
Quoting Mr Breakout
The cable is still trapped inside an ascending channel, breakout coming up.... {image}
Breakout to the upside, could be a fake..
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 179 KB
  • #448,489
  • Jan 30, 2017 7:37pm Jan 30, 2017 7:37pm
I believe it still in down bias.
My entry point will be around 38.2
Price making lower low now.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD+H1.png Size: 49 KB
Let Market Tell You
  • #448,490
  • Jan 30, 2017 8:04pm Jan 30, 2017 8:04pm
Quoting Monokl
I believe it still in down bias. My entry point will be around 38.2 Price making lower low now. GBPUSD+H1.png;2163966 {image}
GBP/USD Intraday: Key resistance at 1.2520/25. The pair recorded a succession of lower highs and lower lows yesterday, which confirms a negative outlook. As long as 1.2520/25(Friday's low) is resistance, look for a downside towards 1.2460 and even 1.2420 in. Only a break above 1.2520 would turn the outlook to positive with an up target at 1.2560 and even 1.2600/20.[DJ Music].
  • #448,491
  • Jan 30, 2017 8:10pm Jan 30, 2017 8:10pm
Quoting Monokl
Price making lower low now. GBPUSD
Absolutely my friend, on the 1h chart the GBP/USD is indeed making lower lows and lower highs, with a resistance area around 1.2520 (red line on the chart).
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 170 KB
  • #448,492
  • Jan 30, 2017 8:33pm Jan 30, 2017 8:33pm
Quoting Mr Breakout
{quote} Absolutely my friend, on the 1h chart the GBP/USD is indeed making lower lows and lower highs, with a resistance area around 1.2520 (red line on the chart). {image}
Thank you for your thoughts
Let Market Tell You
  • #448,493
  • Jan 30, 2017 8:44pm Jan 30, 2017 8:44pm
Sell GBP/USD 1.2514
Target...........1.2440
It's a big game.
  • #448,494
  • Jan 30, 2017 8:56pm Jan 30, 2017 8:56pm
Quoting funzodundee
Sell GBP/USD 1.2514 Target...........1.2440
And your stop?

Don't worry, I won't tell the market makers...
  • #448,495
  • Jan 30, 2017 9:02pm Jan 30, 2017 9:02pm
Better wait...cable can cross up or continue bearish..but cable seems sleep today after yesterday bearish.
  • #448,496
  • Edited 10:11pm Jan 30, 2017 9:12pm | Edited 10:11pm
The cable is trying to break 1.2520.

A breakout of that level could spell trouble for the short sellers (like Dr Zain also said earlier).

However, this level will hold (in my opinion), the market is probably just trying to flush the weak hands...
  • #448,497
  • Jan 30, 2017 10:35pm Jan 30, 2017 10:35pm
still think 1.2460/65 was the most important support of the week, don't think I'm shorting it till that gets taken out.
Look Sharp/Trade Tight
  • #448,498
  • Jan 30, 2017 10:41pm Jan 30, 2017 10:41pm
Short GBP/USD at 1.2510, 25 pip stop.

Now drop like a stone and give me at least 100 pips Mr Cable, on the double, off you go, chop chop!
  • #448,499
  • Jan 30, 2017 10:51pm Jan 30, 2017 10:51pm
Quoting PayTheLimit
still think 1.2460/65 was the most important support of the week, don't think I'm shorting it till that gets taken out.
The last few bulls are still fighting for their territory but it seems that they are running out of ammo...
  • #448,500
  • Jan 30, 2017 10:57pm Jan 30, 2017 10:57pm
Quoting Mr Breakout
{quote} The last few bulls are still fighting for their territory but it seems that they are running out of ammo...
Perhaps, overall I'm confused...most of my good levels got hit yesterday, not only in cable, but across the board..think I'll be sidelined overall today...
Look Sharp/Trade Tight
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