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Cable Update (GBPUSD)

  • #449,441
  • Feb 12, 2017 1:25pm Feb 12, 2017 1:25pm
Quoting elbert3
Good evening price could gap to 2495 over that them o will look at longs again to 2520 see if it breaks . Or short 2495 to 24150 area
Good evening Elbert3. Yes I think this week we will see what the cable is really up to.
  • #449,442
  • Feb 12, 2017 1:25pm Feb 12, 2017 1:25pm
Quoting Mr Breakout
{quote} What FX platform/broker are you using?
Yer that's not even on XE
  • #449,443
  • Edited 1:41pm Feb 12, 2017 1:31pm | Edited 1:41pm
Quoting elbert3
{quote} Yer that's not even on XE
It's 8:30 AM in New Zealand, so some FX trading activity is taking place at this moment.
In fact Forex never sleeps really, even during the weekend, because some banks and Forex dealers can still buy/sell currencies via the Interbank, depending on their needs.
It's impossible to stop money.
  • #449,444
  • Feb 12, 2017 1:34pm Feb 12, 2017 1:34pm
Quoting Mr Breakout
{quote} It's 8:30 AM in New Zealand, so some FX trading activities is taking place at this moment. In fact Forex never sleeps really, even during the weekend, because some banks and Forex dealers can still buy/sell currencies, depending on their needs.
Yes but could you let's say sell order on at 2490 and a tp at 2475 ???if the auto trading platforms fill the orders ??? I just tried it anyway lol
  • #449,445
  • Feb 12, 2017 1:35pm Feb 12, 2017 1:35pm
Quoting A-speculator
{quote} Hey bro.. long time no see.. I reckon the wave is more to the downside bro..
Hey Specs, I'm good thx mate, hope all is well with you.

I see our respective/contrasting views of Cable have not changed in all these years lol...
Come with me if you want to live....
  • #449,446
  • Feb 12, 2017 1:40pm Feb 12, 2017 1:40pm
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http://www.forexlive.com/
  • #449,447
  • Feb 12, 2017 1:52pm Feb 12, 2017 1:52pm
Quoting elbert3
{quote} Yes but could you let's say sell order on at 2490 and a tp at 2475 ???if the auto trading platforms fill the orders ??? I just tried it anyway lol
Well, if your stop is 15 pips the order could go through and trigger your stop immediately due to the huge Sunday spread.
That spread will prevent you from outsmarting your FX broker in most cases.
  • #449,448
  • Feb 12, 2017 2:08pm Feb 12, 2017 2:08pm
Quoting Mr Breakout
{quote} Well, if your stop is 15 pips the order could go through and trigger your stop immediately due to the huge Sunday spread. That spread will prevent you from outsmarting your FX broker in most cases.
Yes they would of had any loop holes covered
  • #449,449
  • Feb 12, 2017 2:16pm Feb 12, 2017 2:16pm
I wonder if if ?? The gap will be a gap that does not close until the major support s found ?
  • #449,450
  • Feb 12, 2017 2:25pm Feb 12, 2017 2:25pm
Quoting elbert3
I wonder if if ?? The gap will be a gap that does not close until the major support s found ?
I don't see any gap, the cable closed at 1.2484 on Friday (bid).
  • #449,451
  • Feb 12, 2017 2:37pm Feb 12, 2017 2:37pm
Bloomberg.
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  • #449,452
  • Edited 2:54pm Feb 12, 2017 2:44pm | Edited 2:54pm
As a day trader I don't see anything interesting on the cable and all its crosses at the moment.

However, the GBP/CAD offers a potential trading opportunity. It will be interesting to see the price action around that big fat 115 pips "bearish" candle (see chart): seller's trap or real bearish sign...?
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  • #449,453
  • Feb 12, 2017 4:37pm Feb 12, 2017 4:37pm
If you are tracking GBPUSD this week, note that presently, price action on the weekly time frame shows a struggle between the bulls and the bears with the bulls still more influential. Should the bulls overpower the bears, a much likely target upwards will be the immediate resistance zone around 1.3030, which adjoins the 61.8 Fib and may also retest the descending trendline (chocolate colour). On the H4 time frame, price action is operating within an ascending channel with the technicals in support of a bullish push upwards. You can get further details on this from weekly technical outlook.

I may be wrong. Trade safe and prosper.

KP

Attached Image
Do your homework, follow the footprints of smart money
  • #449,454
  • Feb 12, 2017 4:56pm Feb 12, 2017 4:56pm
Quoting KeenPips
If you are tracking GBPUSD this week, note that presently, price action on the weekly time frame shows a struggle between the bulls and the bears with the bulls still more influential. Should the bulls overpower the bears, a much likely target upwards will be the immediate resistance zone around 1.3030, which adjoins the 61.8 Fib and may also retest the descending trendline (chocolate colour). On the H4 time frame, price action is operating within an ascending channel with the technicals in support of a bullish push upwards. You can get further...
It says "Attached image cannot be displayed because it contains errors"
  • #449,455
  • Feb 12, 2017 5:17pm Feb 12, 2017 5:17pm
Japanese GDP report in 35 minutes (6:50 PM EST).

Not sure if it's going to move the GBP/JPY but let's take a look, we never know...
  • #449,456
  • Feb 12, 2017 5:19pm Feb 12, 2017 5:19pm
Quoting Ill-b-back
{quote} Hey Specs, I'm good thx mate, hope all is well with you. I see our respective/contrasting views of Cable have not changed in all these years lol...
  • #449,457
  • Edited 6:33pm Feb 12, 2017 5:43pm | Edited 6:33pm
Quoting Mr Breakout
Japanese GDP report in 35 minutes (6:50 PM EST). Not sure if it's going to move the GBP/JPY but let's take a look, we never know...
Seems like the GBP/JPY is breaking from some sort of triangle on the 15-min chart, ahead of the JPY Gross Domestic Product numbers.
When the Yen starts moving during the Asian session, watch out, it does not wait for anybody!

However, we also have an un-filled Sunday gap just sitting there...
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  • #449,458
  • Feb 12, 2017 6:00pm Feb 12, 2017 6:00pm
Like I said a few weeks ago, the Yen does not react to JPY-related financial news reports immediately, at least not anymore, for some strange reasons.

I have noticed over and over that the real move usually comes 15 to 90 minutes later, in most cases.

Why I don't have a single clue.
  • #449,459
  • Feb 12, 2017 6:25pm Feb 12, 2017 6:25pm
Quoting Mr Breakout
Like I said a few weeks ago, the Yen does not react to JPY-related financial news reports immediately, at least not anymore, for some strange reasons. I have noticed over and over that the real move usually comes 15 to 90 minutes later, in most cases. Why I don't have a single clue.
Another perfect example.
The GBP/JPY did not move for more than 10 minutes after the GDP report and then made a sudden 50 pip move in 6 minutes.

The Yen is a very very sneaky and subtle currency indeed.

Now let's see if we can find a nice entry point....
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  • #449,460
  • Feb 12, 2017 6:36pm Feb 12, 2017 6:36pm
not my words
Quoting Mr Breakout
{quote} So if I understand you correctly you are apparently waiting for a close above that weekly doji candle to go long the GBP/JPY?
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