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Cable Update (GBPUSD)

  • #452,141
  • Apr 19, 2017 2:21am Apr 19, 2017 2:21am
Quoting dean1star
{quote} Not such an easy one to answer as there will always be opinions which are different but since trump spoke last week after the NFP this pair seems to be in an up move as such strength in wall st's buying power and capacity that said one would also think that an election would cause waves of negativity as its a political nightmare with the never ending uk politics scenario of being in or out of Europe, my personal take is the move before the news was to clear the range for an up move, notice how after a certain point the initial move went...
Much appreciated dean1star! Clearing up prior to this move makes sense. Things could get funny with Carney tomorrow
  • #452,142
  • Apr 19, 2017 3:03am Apr 19, 2017 3:03am
2017/04/19 WEDNESDAY 10:00+1GMT
MORNING REPORT
Ubi maior minor cessat
  • #452,143
  • Apr 19, 2017 3:26am Apr 19, 2017 3:26am
Quoting elbert3
{quote} Morning 2839 was short target 2760 area 2608 2 nd target cable don't like giving that many pips away . If 2760 area is a bounce then look to yesterday high and 3355 possible
That for now looks like a false breaking isn't touch 1 hour tl so let's see if we can find a pennant shape to trade to and trade off back long
  • #452,144
  • Apr 19, 2017 4:06am Apr 19, 2017 4:06am
awful awful morning
  • #452,145
  • Apr 19, 2017 4:09am Apr 19, 2017 4:09am
Starting to see some weakness here, lets see
  • #452,146
  • Edited 5:29am Apr 19, 2017 5:18am | Edited 5:29am
61.8 fibs will then take a look at shorts
(long euro usd x 2 postions still around 180 pips)
waiting on this pair.
green line is my fibs line 61.8 zone would short around there thinking then higher and taking 3 positions to catch the drop
2 week trade one imagines but could be lucrative
Attached Image (click to enlarge)
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  • #452,147
  • Apr 19, 2017 5:43am Apr 19, 2017 5:43am
Quoting dean1star
61.8 fibs will then take a look at shorts (long euro usd x 2 postions still around 180 pips) waiting on this pair. green line is my fibs line 61.8 zone would short around there thinking then higher and taking 3 positions to catch the drop 2 week trade one imagines but could be lucrative {image}
by the way, do you mean SELL? where is your target? i am also selling but already have position at 1.2755
  • #452,148
  • Apr 19, 2017 5:47am Apr 19, 2017 5:47am
Quoting yongsien
{quote} by the way, do you mean SELL? where is your target? i am also selling but already have position at 1.2755
ah right so your in early i would be looking at 127 sell zone with higher movement and re load and i hope 3 positions on around the 127 128 and near to 129 zones and a drop to 126 for target - .. i let the price action and movement guide me whilst aiming for a the target zone in this instance 126 in time say two weeks .. well thats my take anyways Yongsien.
  • #452,149
  • Apr 19, 2017 5:49am Apr 19, 2017 5:49am
Quoting dean1star
{quote} ah right so your in early i would be looking at 127 sell zone with higher movement and re load and i hope 3 positions on around the 127 128 and near to 129 zones and a drop to 126 for target - .. i let the price action and movement guide me whilst aiming for a the target zone in this instance 126 in time say two weeks .. well thats my take anyways Yongsien.
thank you dean...
  • #452,150
  • Apr 19, 2017 5:53am Apr 19, 2017 5:53am
Quoting yongsien
{quote} thank you dean...
no worries - btw if we start to hit the 130 zone then i will still be waiting to short and my targets would be re adjusted from the 128 zone we are in now but i try not to second guess the market no point i just wait and let it tell me all i need to know ..to make my monthly targets - its a slow game but hey there is no second guessing and i tell you that alone is worth the wait best lesson i learnt was how to not second guess the market.

Dont forget i am still long on the euro usd est 190 pips so its not like waiting for something to happen as these two pairs are constant on their moves and structures.
  • #452,151
  • Apr 19, 2017 5:59am Apr 19, 2017 5:59am
Quoting dean1star
{quote} no worries - btw if we start to hit the 130 zone then i will still be waiting to short and my targets would be re adjusted from the 128 zone we are in now but i try not to second guess the market no point i just wait and let it tell me all i need to know ..to make my monthly targets - its a slow game but hey there is no second guessing and i tell you that alone is worth the wait best lesson i learnt was how to not second guess the market.
yes, waiting is the best, yesterday night i put pending sell at 200 daily moving average. i really don't know it will be triggered. it really shock me out in the morning. GBPUSD 500 pips moving in a day.
  • #452,152
  • Apr 19, 2017 6:07am Apr 19, 2017 6:07am
Hi,

Yesterday GBP/USD breakout was a sign that we're in full reversal move. I've been aiming for the 1.3000 big psychological number since we where trading near the 1.2100 March low. I'm more curious to see how it will react to the French election. Even if Le Pen wins, which I doubt, the British Pound should still be supported as their will be a lot of influx of capital coming from EU.

By the way the 1st chart was my GBPUSD forecast at the beginning of the week and the second one is how it looks now. The chart have been posted previously on my twitter feed here: Daytrader213

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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all the best.
  • #452,153
  • Apr 19, 2017 8:21am Apr 19, 2017 8:21am
is overbought in the short term

i think 1.2950 is the next reasonable target
Don't Worry Be Happy
  • #452,154
  • Apr 19, 2017 8:50am Apr 19, 2017 8:50am
Quoting fontu
So heading strongly for the target /next signal level 1.2794 , if success break then 1.3050 or 3444 will be next easy targets . so crush or success at 1.2794.Take care , fontu {image} {image}
same as before , after breaking the great signal level the next target goes to more highs but chances correction down a lot towards 1.2614 possible or not at all while bullying continues , 1.2809 may be enough to go green before next signal 1.3050 or confirmations at 1.3444 & 1.3835 .Take care care in this journey. fontu
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSDM5.png Size: 33 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #452,155
  • Apr 19, 2017 12:15pm Apr 19, 2017 12:15pm
Quoting elbert3
{quote} Morning 2839 was short target 2760 area 2608 2 nd target cable don't like giving that many pips away . If 2760 area is a bounce then look to yesterday high and 3355 possible
It's in that area above hold or tp ???
  • #452,156
  • Apr 19, 2017 4:33pm Apr 19, 2017 4:33pm
Nobody posting . 2780 now and fail here could see a quicker drop to 2608
  • #452,157
  • Apr 19, 2017 4:40pm Apr 19, 2017 4:40pm
I think we will still see more low from here on cable, but the bears shouldn't get too excited as this is still very much the bulls party
  • #452,158
  • Apr 19, 2017 6:40pm Apr 19, 2017 6:40pm
An EG 8457ish retest could indicate timing for more GU gains
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 26 KB
Click to Enlarge Name: EURGBPWeekly.png Size: 29 KB
Come with me if you want to live....
  • #452,159
  • Apr 20, 2017 12:33am Apr 20, 2017 12:33am
Quoting elbert3
Nobody posting . 2780 now and fail here could see a quicker drop to 2608
2807 resistance area 2777 support for now can it get higher so just hedge here 2806 see which way for a bit
  • #452,160
  • Apr 20, 2017 2:32am Apr 20, 2017 2:32am
Quoting elbert3
{quote} 2807 resistance area 2777 support for now can it get higher so just hedge here 2806 see which way for a bit
Lets see if it can break higher
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