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Cable Update (GBPUSD)

  • #448,921
  • Feb 3, 2017 1:04am Feb 3, 2017 1:04am
Quoting elbert3
{quote} Monthly candle body's and day after that 2087 is main support for me E
I'll have a close look at it...thanks...
Look Sharp/Trade Tight
  • #448,922
  • Feb 3, 2017 1:04am Feb 3, 2017 1:04am
Quoting Nala66
{quote} Yes why there when it now crossing your spectacular trend line...short!
Again and for the last time, the market is under no obligation to respect any trendline, no matter how "perfect" it is.

The price can either respect that trendline (for X period of time) or break through it, end of story and case closed (like my uncle used to say).
  • #448,923
  • Feb 3, 2017 1:08am Feb 3, 2017 1:08am
17/02/03 FRIDAY 07:57+1GMT
EARLY MORNING REPORT
Ubi maior minor cessat
  • #448,924
  • Feb 3, 2017 1:11am Feb 3, 2017 1:11am
Quoting Nala66
The market has been dead all day so far {image}
That's the typical calm before the storm, "dead" markets often make explosive moves when the original trend resumes...
  • #448,925
  • Feb 3, 2017 1:21am Feb 3, 2017 1:21am
I don't know, all I got is 2465, and 2582 really...bored with cable a bit, got some other more sexy levels else where....I'm very fond on 1.0710 in the euro...I'd like to bet the farm on that if I get a chance....anyway, back to bug you later...good luck
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 70 KB
Look Sharp/Trade Tight
  • #448,926
  • Feb 3, 2017 1:32am Feb 3, 2017 1:32am
Quoting PayTheLimit
. why 2550, why there?
Well, the cable made a 200 pip down move in less than 24hours, so a small retrace is expected, at least at the 23.8% Fib level (around 2550ish).

But again, the market will do what it wants, when it wants, how it wants, and for as long as it wants to, nothing new under the sun here.
  • #448,927
  • Feb 3, 2017 1:44am Feb 3, 2017 1:44am
#USD attempts to rebound ahead of Non Farm Payroll
https://t.co/QddUcu1TAI #NFP #Friday
not euphoria follower
  • #448,928
  • Feb 3, 2017 1:46am Feb 3, 2017 1:46am
Quoting Mr Breakout
{quote} Well, the cable made a 200 pip down move in less than 24hours, so a small retrace is expected, at least at the 23.8% Fib level (around 2550ish). But again, the market will do what it wants, when it wants, how it wants, and for as long as it wants to, nothing new under the sun here.
You want it both ways.

Your 1 hour trend line indicates an up - trend so this could just as easily been a 200 pip retracement and now we go for the continuation northwards.

This kind of talk is just ... heads or tails anybody?
  • #448,929
  • Feb 3, 2017 1:51am Feb 3, 2017 1:51am
Quoting iqyu5an
#USD attempts to rebound ahead of Non Farm Payroll https://t.co/QddUcu1TAI #NFP #Friday
Not sure why you are using the daily time frame to time an entry on the Non Farm Payroll.

Nice descending wedges on the US Dollar Index however, a serious breakout is about to happen...
  • #448,930
  • Feb 3, 2017 2:05am Feb 3, 2017 2:05am
Quoting Nala66
You want it both ways.
I don't want anything, I just want to be aware of any possible scenario and counter-scenario, because I know that having any preconceived idea about the market is wrong and unrealistic.

Quoting Nala66
Your 1 hour trend line indicates an up - trend
No, it only indicates a POSSIBLE up trend, that's different

Quoting Nala66
so this could just as easily been a 200 pip retracement and now we go for the continuation northwards.
You keep forgetting that I trade the small 15-min time frame, I look for mini intra trends, short or long it does not matter.

Quoting Nala66
This kind of talk is just ... heads or tails anybody?
No, we are simply trying to analyze any possible scenario so that we can be prepared in advance.

You see, I always assume that my trade will be a losing trade.
Try it for a while, you will see the market in an entirely new way...
  • #448,931
  • Feb 3, 2017 2:06am Feb 3, 2017 2:06am
Quoting Mr Breakout
{quote} Not sure why you are using the daily time frame to time an entry on the Non Farm Payroll. Nice descending wedges on the US Dollar Index however, a serious breakout is about to happen...
just to see the global ...mate

and am flat at the moment.
not euphoria follower
  • #448,932
  • Feb 3, 2017 2:10am Feb 3, 2017 2:10am
Quoting iqyu5an
just to see the global ...mate .
In that case nothing wrong with that.
Thanks for the info.
  • #448,933
  • Feb 3, 2017 3:02am Feb 3, 2017 3:02am
Quoting Mr Breakout
{quote} Your 4h trendline GBP/USD chart is the exact equivalent of this 1h chart (see below). It is not a very convincing trendline because there is too much white space. However, seeing these very small 1h doji and hammer candles on the right side of the chart (red circle), near the trendline, is a very good sign, that means that the price is respecting the up trendline. At least for now... {image}

thankyou Mr Breakout
onorebate
  • #448,934
  • Feb 3, 2017 3:06am Feb 3, 2017 3:06am
4 hour doji but resistance for now yesterday's bear candle ? Let's see
  • #448,935
  • Feb 3, 2017 3:25am Feb 3, 2017 3:25am
Quoting Kajos2250
GU H4 GMT+2 after the bullish belthold the IBBO by bullish engulfing are the signs to go higher. buy stop .2623, invalidation close under ~2538. first realization ~2800. maybe the YPP ~3055 is the next station... good luck! {image}
GU H4 GMT+2

bullish trend is holding, betting for the dojis that can be the end of correction.
buy stop .2543, invalidation close under ~2450, BE ~2638, first realization ~2750.
targeting YPP ~3050...

good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.proH4.png Size: 52 KB
Anything is math!
  • #448,936
  • Feb 3, 2017 4:05am Feb 3, 2017 4:05am
so what about this area down here? anyone doing anything? no interest?

I mean how important is it to the bulls that 2411 holds....
Look Sharp/Trade Tight
  • #448,937
  • Feb 3, 2017 4:11am Feb 3, 2017 4:11am
Quoting PayTheLimit
so what about this area down here? anyone doing anything? no interest? I mean how important is it to the bulls that 2411 holds....
Well it hit that H4 trendline to the pip and seems to want to go up....
If it makes a double M5 bottom it may worth a scalp for 20p
  • #448,938
  • Feb 3, 2017 4:18am Feb 3, 2017 4:18am
I cant figure if 65 is a great play, or if its a suckers play....surely everyone and their mother is watching it...its a spot that got play early in the week...
Look Sharp/Trade Tight
  • #448,939
  • Feb 3, 2017 4:29am Feb 3, 2017 4:29am
These levels are the same as my old post when I mentioned if price broke above/below the purple level...

 

  1. So yesterday the 1 candlestick broke above R
  2. The 2 candle stick tested T (level was off by 2pips)
  3. The 3 candle stick broke below R
  4. The 4 candle stick tested R (that's where you enter short - I did and the news spiked up real quick and hit my SL. I put SL a bit too tight)
  5. The 4 candle stick broke both Support levels G,Z.
  6. The 5 candle stick broke the primary support ( purple line )
  7. The 6 candle stick retested Resistance
  8. At this point we still wait because levels A,B are a zone and we need to wait for a break below B and a retest of B,A.
  9. The 7 candle stick was the clear retest (enter short)
  10. C,D is another zone - PA touched D (TP) ... You could also enter long here for a couple pips with a SL just underneath D.
  11. And now you wait to see what PA does. If we break D we wait for a retest before entering short
  12. If it breaks above C I won't long instead I will look for a short opportunity (beacuse PA is below Purple Line)
  13. If we break below D I will come up with more levels and zones and see where we go from there.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 63 KB
  • #448,940
  • Feb 3, 2017 4:34am Feb 3, 2017 4:34am
Quoting Noors
If we break below D I will come up with more levels and zones and see where we go from there. {image}
lol, this is the best one....

don't post a chart like this up again, the anti-level people are liable to run you out of here...



I'll take a good look at it later...
Look Sharp/Trade Tight
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