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Cable Update (GBPUSD)

  • #448,861
  • Edited 12:36pm Feb 2, 2017 12:05pm | Edited 12:36pm
gbp is consolidating ,$ is trending down
but can't be sure where the line is
maybe consolidate this week
this isnt what it seems imo

like before
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,862
  • Feb 2, 2017 12:11pm Feb 2, 2017 12:11pm
$ prints red only I believe when I see
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,863
  • Feb 2, 2017 12:25pm Feb 2, 2017 12:25pm
Nice pips back 2560 and swap short again sl on manage target 2534 2510
  • #448,864
  • Feb 2, 2017 12:39pm Feb 2, 2017 12:39pm
Quoting elbert3
Nice pips back 2560 and swap short again sl on manage target 2534 2510
Does 1.2522 (ish) feature on your chart?

If so, or a similar level, what are your plans at that stage?

Today's trading has left me a little confused about the whole picture (on the three pairs that I follow), with only a relative sense of direction on USDJPY.
  • #448,865
  • Feb 2, 2017 12:52pm Feb 2, 2017 12:52pm
Quoting Luzbay
{quote} Does 1.2522 (ish) feature on your chart? If so, or a similar level, what are your plans at that stage? Today's trading has left me a little confused about the whole picture (on the three pairs that I follow), with only a relative sense of direction on USDJPY.
Wrote the plan week ago so I have to play it as I see it happen . On 5 min tl again and it's out so unless it confirms higher looking to break the low 2528 and 2515 is a big one if it breaks that should have an easy way down . But I play it as it come with the whole plan in mind . Regards B
  • #448,866
  • Feb 2, 2017 1:03pm Feb 2, 2017 1:03pm
Coming up this will be 3 rd try on the 5 min
  • #448,867
  • Feb 2, 2017 1:08pm Feb 2, 2017 1:08pm
Hope to let this run and add
  • #448,868
  • Feb 2, 2017 1:12pm Feb 2, 2017 1:12pm
Quoting elbert3
{quote} Wrote the plan week ago so I have to play it as I see it happen . On 5 min tl again and it's out so unless it confirms higher looking to break the low 2528 and 2515 is a big one if it breaks that should have an easy way down . But I play it as it come with the whole plan in mind . Regards B
I agree. I've got 1.2522 as the big one to break. If it does, the next stop (according to me...!) is 1.24090.
  • #448,869
  • Feb 2, 2017 2:10pm Feb 2, 2017 2:10pm
Quoting elbert3
Hope to let this run and add
1.2519 at the time of typing.

What are you saying, E?
  • #448,870
  • Feb 2, 2017 2:35pm Feb 2, 2017 2:35pm
Quoting Luzbay
{quote} 1.2519 at the time of typing. What are you saying, E?
Sorry people in the house . What did you do ?
  • #448,871
  • Feb 2, 2017 2:43pm Feb 2, 2017 2:43pm
Quoting elbert3
{quote} Sorry people in the house . What did you do ?
Nothing yet, I've sat tight.

I want the H1 candle to close convincingly below 1.2522 - either through volume of move or type of candle.

H1 currently shows a little bullish divergence. I wonder whether it'll revisit 1.2560x before it's descent.
  • #448,872
  • Feb 2, 2017 2:45pm Feb 2, 2017 2:45pm
Quoting Luzbay
{quote} Nothing yet, I've sat tight. I want the H1 candle to close convincingly below 1.2522 - either through volume of move or type of candle. H1 currently shows a little bullish divergence. I wonder whether it'll revisit 1.2560x before it's descent.
Mmm I have a few in the bag ?? 2540 area might be hold and add ???
  • #448,873
  • Feb 2, 2017 2:48pm Feb 2, 2017 2:48pm
Quoting Luzbay
{quote} Nothing yet, I've sat tight. I want the H1 candle to close convincingly below 1.2522 - either through volume of move or type of candle. H1 currently shows a little bullish divergence. I wonder whether it'll revisit 1.2560x before it's descent.
Just had a look on 4 hour 40 is the bottom body on the last candle so let's see
  • #448,874
  • Feb 2, 2017 3:03pm Feb 2, 2017 3:03pm
Quoting elbert3
{quote} Mmm I have a few in the bag ?? 2540 area might be hold and add ???
I think you might be onto something with this ^^
  • #448,875
  • Feb 2, 2017 3:11pm Feb 2, 2017 3:11pm
Quoting Luzbay
{quote} I think you might be onto something with this ^^
Hope so I am on at 40 sl on that one same
  • #448,876
  • Feb 2, 2017 3:16pm Feb 2, 2017 3:16pm
Quoting Luzbay
{quote} I think you might be onto something with this ^^
Don't like the look on 1 hour might have to change tac ???
  • #448,877
  • Feb 2, 2017 3:28pm Feb 2, 2017 3:28pm
Quoting elbert3
{quote} Don't like the look on 1 hour might have to change tac ???
The daily and 4 hour look bearish, but the 1 hour has the potential to retrace/turn bullish.

I'm going to avoid my usual trick and jumping in, until it becomes a little clearer.
  • #448,878
  • Feb 2, 2017 3:33pm Feb 2, 2017 3:33pm
Actually, depending on how this H4 candle closes, this could look bullish, too.
  • #448,879
  • Feb 2, 2017 4:08pm Feb 2, 2017 4:08pm
I'm thinking of setting up a short limit order at around 1.2559, with a 20 pip SL. Hoping for a ride down to 1.2450, if it catches.
  • #448,880
  • Feb 2, 2017 4:58pm Feb 2, 2017 4:58pm
I AM going to make a fortune being long Gbp/Usd.
It's just taking longer than I thought it would...really glad I'm in closer to 1.2000 - Every time I think, "That's it, we're outta here", they slam it back to the downside.
But those bears are getting kinda old...the bulls day is coming - I WILL see this stuff over 1.3500 sometime in 2017.
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