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Cable Update (GBPUSD)

  • #450,581
  • Edited 9:03pm Mar 4, 2017 8:01pm | Edited 9:03pm
Quoting Bones
what ones https://www.forexfactory.com/attachm...9&d=1487004079
So let's recap.

1: Breakdown.
2: Test of the breakout area.
3: Down it goes (next probable target is at least 1.2100....).

See, no imaginary "uptrend" on the cable Bones, end of story and case closed.
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  • #450,582
  • Mar 4, 2017 9:15pm Mar 4, 2017 9:15pm
Lol. mr b where ya been ,,,,,,,,, nice drop no doubt ,,,,,,,,,,,, it stopped in kinda a peculiar area tho ,,,,,,,,,, you have played that pattern 1000s of times on a 15 minute chart,,,, not saying thats what it is but still a little down side room and still be valid ,,,, could see a poke to the quarterly open before a drop , cheers man
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and the invert
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  • #450,583
  • Mar 4, 2017 9:20pm Mar 4, 2017 9:20pm
Failure around the open I will be looking for 2069 on the next drop
  • #450,584
  • Mar 5, 2017 12:35am Mar 5, 2017 12:35am
My short bias by next week.
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Let Market Tell You
  • #450,585
  • Mar 5, 2017 2:19am Mar 5, 2017 2:19am
next low januari 2017
#Trade what you see and not what your think
  • #450,586
  • Mar 5, 2017 4:15am Mar 5, 2017 4:15am
Quoting Mr Breakout
{quote} So let's recap. 1: Breakdown. 2: Test of the breakout area. 3: Down it goes (next probable target is at least 1.2100....). See, no imaginary "uptrend" on the cable Bones, end of story and case closed. {image} {image}
  • #450,587
  • Mar 5, 2017 5:11am Mar 5, 2017 5:11am
Quoting craftsman44
1.2220 has strong support and the bearish run would possibly be over. Not surprise if it rebounded to 1.2306 next Monday(23.6% Fibonacci retracement level). Worse than expectation Services PMI and Yellen speaking did not drag sterling down. craftsman {image}

Friday closed at 1.2290, March futures contract closed at 1.2309.
Weekend headlines are neutral, would expect a jump opening on Monday in Asia session.

Next level is around 1.2350, which should have some kind of resistance.
And if closed above 1,2390 on Monday & Tuesday, would possibly return to 1.24-1.255, the comfortable range again.

craftsman
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  • #450,588
  • Mar 5, 2017 5:47am Mar 5, 2017 5:47am
yea it failed to go higher but it will imo before the low
its range which is always tricky the only thing I said with certainty you wont see 1.2 in the past 2 weeks and the 2 weeks before.
while at least I knew it wont do your drop like a rock charts though that bottom how do I know 4 weeks ago

so its 300 pips above that now and 200 pips below that chart


Quoting Mr Breakout
{quote} So let's recap. 1: Breakdown. 2: Test of the breakout area. 3: Down it goes (next probable target is at least 1.2100....). See, no imaginary "uptrend" on the cable Bones, end of story and case closed. {image} {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #450,589
  • Mar 5, 2017 6:35am Mar 5, 2017 6:35am
It is going to retest 1.2320, if it fails to break this level.. then the next target is 1.2120
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Markets are Irrational
  • #450,590
  • Mar 5, 2017 6:45am Mar 5, 2017 6:45am
Levels I'll be playing with for couple of days if it stay in this lower range. Will look for a short at DD and a buy at S or T depending how PA moves around those levels. Other than that, I expect price to hit F then maybe continue lower from there. A break of F and a retest of F I'll buy. Break down below G and a retest of G I will sell. That's all for now.
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  • #450,591
  • Mar 5, 2017 7:16am Mar 5, 2017 7:16am
Quoting ArslanHyder
It is going to retest 1.2320, if it fails to break this level.. then the next target is 1.2120 {image}
agree with you. bearish is still in charge from now on. and 1.2320 is just the bearish channel line on h4 chart. above 1.2320,bullish will have a chance. otherwise, bearish keeps on.
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A chart helps those who can read it.
  • #450,592
  • Mar 5, 2017 9:49am Mar 5, 2017 9:49am
Quoting ArslanHyder
It is going to retest 1.2320, if it fails to break this level.. then the next target is 1.2120 {image}
-------
FWIW true bankOrderFlow , Bware many False ones floatin around in this fx_jungle
da n0o0b + $hit_Disturber
  • #450,593
  • Mar 5, 2017 10:08am Mar 5, 2017 10:08am
I'm long the Sterling, let's see how the week goes. Good support levels.
  • #450,594
  • Mar 5, 2017 12:28pm Mar 5, 2017 12:28pm
#GBPUSD / My count / H4
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  • #450,595
  • Mar 5, 2017 12:50pm Mar 5, 2017 12:50pm
Quoting pipsy7
{quote} ------- FWIW true bankOrderFlow , Bware many False ones floatin around in this fx_jungle
According to Weekly Bars... Bullish engulfing suggests the price to break up and hit 1.2730 level.. let's see what happens in the coming two to three weeks. The price is going to go up ultimately to 1.2730 level within two to three weeks...
Markets are Irrational
  • #450,596
  • Mar 5, 2017 1:04pm Mar 5, 2017 1:04pm
What about a small gap down and it does not fill until the weekly bottom tl gets hit ???
  • #450,597
  • Mar 5, 2017 1:39pm Mar 5, 2017 1:39pm
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#Trade what you see and not what your think
  • #450,598
  • Mar 5, 2017 1:40pm Mar 5, 2017 1:40pm
Quoting elbert3
What about a small gap down and it does not fill until the weekly bottom tl gets hit ???
In my opinion, the price is going to retest 1.2100 level (according to daily bearish engulfing bar).... and then again up to 1.2700 level (according to weekly bullish engulfing bar) .. Let's see what happens...
Markets are Irrational
  • #450,599
  • Mar 5, 2017 2:00pm Mar 5, 2017 2:00pm
1.2291 atm
  • #450,600
  • Mar 5, 2017 2:20pm Mar 5, 2017 2:20pm
Quoting ArslanHyder
{quote} In my opinion, the price is going to retest 1.2100 level (according to daily bearish engulfing bar).... and then again up to 1.2700 level (according to weekly bullish engulfing bar) .. Let's see what happens...
Totally agree if you go on your weekly chart and draw tl from Brit bottom to the next low that's where the price is going to hit if it breaks it 1 it will be a false break to take out the trade . 2 . Well it could be a train wreck for gb . But let's see the plan out first . Regards E
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