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Cable Update (GBPUSD)

  • #452,241
  • Apr 26, 2017 11:04am Apr 26, 2017 11:04am
Quoting eryaran
On the weekly market at good resistance zone ! O.618 fibonacci retracement + 1.00 fibonacci expansion line up.. {image}

And whats withe the down side ??
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  • #452,242
  • Apr 26, 2017 11:10am Apr 26, 2017 11:10am
First target 1.27ish on daily and second target is 1.26-1.2550 zone
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  • #452,243
  • Apr 26, 2017 12:29pm Apr 26, 2017 12:29pm
Quoting Toranaga
{quote} 2 pips. I hope you closed it before. Thats the reason i started to trade D1 and W1 with really wide SL and mostly with grid. Forex sucks but if you can outfox it sometimes you can make money. But you have to find new ways to do that. Thats why im still trading it.
I agree.

My most commonly checked chart is daily and I will not often use stops of less than 80 pips.

Give you plenty of breathing space if you've gauged the trend, but not entered at the optimum moment.
  • #452,244
  • Apr 26, 2017 12:47pm Apr 26, 2017 12:47pm
Shorted at 128 300
  • #452,245
  • Edited 1:11pm Apr 26, 2017 12:49pm | Edited 1:11pm
Quoting Toranaga
{quote} 2 pips. I hope you closed it before. Thats the reason i started to trade D1 and W1 with really wide SL and mostly with grid. Forex sucks but if you can outfox it sometimes you can make money. But you have to find new ways to do that. Thats why im still trading it.
lol Took 15 pips on it

Scalp another 2 * 10 pips short too

Flat now and done for the day GL all
  • #452,246
  • Apr 26, 2017 1:06pm Apr 26, 2017 1:06pm
where to go? its so choppy
  • #452,247
  • Apr 26, 2017 1:08pm Apr 26, 2017 1:08pm
Anybody know why Tax Reform press conference made the pound rally against the dollar?
  • #452,248
  • Apr 26, 2017 1:22pm Apr 26, 2017 1:22pm
Quoting fahad516
Anybody know why Tax Reform press conference made the pound rally against the dollar?
I wouldn't necessarily call 10-20 pips a rally, but my two cents is that the buyers are squeezing the last of the current upward move out, before we head down.

I can't see why cuts in US taxes would weaken the dollar.
  • #452,249
  • Apr 26, 2017 3:18pm Apr 26, 2017 3:18pm
Quoting eryaran
First target 1.27ish on daily and second target is 1.26-1.2550 zone {image}
Let's hope so just took short again and gbj 142.950
  • #452,250
  • Apr 26, 2017 3:59pm Apr 26, 2017 3:59pm
It wants to go above. Feels like big boys didn't sort out yet...
  • #452,251
  • Apr 26, 2017 4:05pm Apr 26, 2017 4:05pm
Quoting kk300
It wants to go above. Feels like big boys didn't sort out yet...
Hope it doesn’t go above kill all short SL then go down under
Self discipline It is a practice
  • #452,252
  • Apr 26, 2017 5:27pm Apr 26, 2017 5:27pm
Cable continues to be trading within a narrow range in positive territroy , there is no clear directional strength, the consolidation would probably continue until Friday preliminary Q1 GDP release.
  • #452,253
  • Apr 26, 2017 6:23pm Apr 26, 2017 6:23pm
Well days have passed and as suspected the daily chart held the high position as the EMA breaks previous levels heading towards the much higher one at 1.323. There is still no evidence of a long term short all evidence still points towards the long side.

Price is holding in the top Quartile (25%) and appears to have broken out of a a pennant though a retest would be nice.

There are some huge triangles here also which since the Swissy crash I don't ignore any longer.

All in all I would still be buying the dips on this pair.

Daily chart...
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  • #452,254
  • Apr 26, 2017 6:37pm Apr 26, 2017 6:37pm
Seen at the 1 hour level price appears to be lazy as it ambles along waiting for the daily catch up.

We do see it continues to put in unbroken supports so again no evidence yet of shorts and is generally trading above its average.
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  • #452,255
  • Apr 27, 2017 12:41am Apr 27, 2017 12:41am
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  • #452,256
  • Apr 27, 2017 1:53am Apr 27, 2017 1:53am
Quoting andoseg2
Looking to buy {image}

Update : some pics posted on facebook group :

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Money moves the market, not an indicator.
  • #452,257
  • Apr 27, 2017 2:08am Apr 27, 2017 2:08am
I'm in the bull camp also, and 1.2820/25 seems like a decent support to lean on today...
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Look Sharp/Trade Tight
  • #452,258
  • Apr 27, 2017 2:30am Apr 27, 2017 2:30am
Looks like 1.2959 coming up
Come with me if you want to live....
  • #452,259
  • Apr 27, 2017 2:42am Apr 27, 2017 2:42am
Taking a few shorts in this area ,,,last weeks high ,,,,,tgting weekly pivot at 2740 to start with ,Ill see what happens, hope all are doing well .
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  • #452,260
  • Apr 27, 2017 2:43am Apr 27, 2017 2:43am
will take some profit around the weekly open ,,,,,28ish area if and when it gets there
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