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Cable Update (GBPUSD)

  • #453,121
  • Jun 16, 2017 5:47pm Jun 16, 2017 5:47pm
Cable could be pushing for a retest of major weekly resistance
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 28 KB
Click to Enlarge Name: GBPUSDDaily1.png Size: 26 KB
Click to Enlarge Name: GBPUSDWeekly.png Size: 20 KB
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  • #453,122
  • Jun 16, 2017 8:44pm Jun 16, 2017 8:44pm
Quoting Ill-b-back
Cable could be pushing for a retest of major weekly resistance {image} {image} {image}
or it could go below...what do you make of this? http://www.reuters.com/article/uk-br...-idUSKBN1970T6
It's not how much U make, but how much U keep
  • #453,123
  • Jun 16, 2017 9:40pm Jun 16, 2017 9:40pm
Quoting akiga
{quote} or it could go below...what do you make of this? http://www.reuters.com/article/uk-br...-idUSKBN1970T6
My market view only reaches to next week and a rise of a little over 100 pips, it's not necessarily relevant to the bigger 3 to 6 month picture mentioned in the article. I read somewhere that the UK coalition with DUP maybe announced next week which would give May a majority of sorts and prob be pound positive. Maybe the item to do the trick north.
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  • #453,124
  • Jun 16, 2017 9:48pm Jun 16, 2017 9:48pm
Quoting Ill-b-back
{quote} My market view only reaches to next week and a rise of a little over 100 pips, it's not necessarily relevant to the bigger 3 to 6 month picture mentioned in the article. I read somewhere that the UK coalition with DUP maybe announced next week which would give May a majority of sorts and prob be pound positive. Maybe the item to do the trick north.
Nice info, thanks
It's not how much U make, but how much U keep
  • #453,125
  • Jun 16, 2017 10:17pm Jun 16, 2017 10:17pm
Big picture .. keeping it simple.. EWT point of view this daily upmove into the teeth of the M and W downtrend looks corrective - in light of the bigger picture downside momentum it looks like we should expect a break of the low once more before the move up happens.. once that is broken again we would complete the structure and the upside may proceed in earnest.. - just follow the arrows and happy trading!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 169 KB
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  • #453,126
  • Jun 17, 2017 2:54am Jun 17, 2017 2:54am
Quoting Dr.Zain
{quote} GBP/USD continues to struggle at its 55 day ma at 1.2800 and while capped by its 20 day ma at 1.2860 will maintain a bearish bias. Nearby support remains 1.2642/36, one remain unable to rule out a brief extended rally towards 1.2800/40 ish. Provided that the rally remains capped by the 20 day ma at 1.2860 the market will remain vulnerable on the downside. Red 50 ma,Blue 20 ma {image}
Are we expecting a gap down or a drift down for GBPUSD with the BREXIT talks start Monday?

Experts to give us their opinions.
  • #453,127
  • Jun 17, 2017 8:57am Jun 17, 2017 8:57am
Of my three trades I ended with two wins and one break even. Hoping for a 50% retracement in GU but misread it. I was at 41 pips hoping to double it but, oh well--didn't lose. I'm up 15.5% for the month.
Taigen Profit This Month: na
  • #453,128
  • Jun 17, 2017 9:22am Jun 17, 2017 9:22am
Quoting Taigen
Of my three trades I ended with two wins and one break even. Hoping for a 50% retracement in GU but misread it. I was at 41 pips hoping to double it but, oh well--didn't lose. I'm up 15.5% for the month.
Excellent results buddy. BUT b/e after 41 pips is not good, let me guess...GREED crept in & you felt well I already won 2 so the third lets let fly...100pips!
who dares wins
  • #453,129
  • Jun 17, 2017 10:33am Jun 17, 2017 10:33am
MY NEXT WEEK PLAN GUYS, WHATS YOUR VIEW ON IT ?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 25 KB
Work Hard In Silence, Let Your Success Be Your Noise.
  • #453,130
  • Jun 17, 2017 10:47am Jun 17, 2017 10:47am
h1

above===>@1.27845====>1.28301=====>1.28538
below===>@1.27844====>1.27586=====>1.27504===>1.27397
Attached Image (click to enlarge)
Click to Enlarge Name: h1.png Size: 85 KB
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  • #453,131
  • Jun 17, 2017 11:00am Jun 17, 2017 11:00am
Quoting keep4x
MY NEXT WEEK PLAN GUYS, WHATS YOUR VIEW ON IT ? {image}
See if 128 300 will do to short this pair
  • #453,132
  • Jun 17, 2017 3:18pm Jun 17, 2017 3:18pm
Quoting keep4x
MY NEXT WEEK PLAN GUYS, WHATS YOUR VIEW ON IT ? {image}
Personally abandoned S/R quite a while back and my trading is based on EWT however I am thinking you have to have a support and resistance you have 2 support- and I usually see them more drawn as a price level. I would say based on the overall chart right now, we are on the same page looking for a sell rather than buy -- it can go up some more from here, but I am looking for sell set up.. for a "wave-ist" .. that would basically be a lower degree impulse and flag to sell. Next week may be fun!
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  • #453,133
  • Jun 17, 2017 3:26pm Jun 17, 2017 3:26pm
Quoting nesta
h1 above===>@1.27845====>1.28301=====>1.28538 below===>@1.27844====>1.27586=====>1.27504===>1.27397 {image}
ok.. this may be why i abandon s/r - are you saying you are buying or selling?? where is your current buy or sell line and how does it equal a buy or sell 'trigger'.. I would like to follow this and see if someone can show S/R that works.. everytime i see someone do S/R the line they have moves? but then how do you trade it if line is moving? Please do not take as criticism, I am really trying to see if there is a method that holds water with S/R - maybe I just was not applying it correctly. Always open to learning something new if it can improve my trading (by that i mean improve my account in $) - win / loss matters not.. account tells the ultimate truth..
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  • #453,134
  • Jun 17, 2017 4:27pm Jun 17, 2017 4:27pm
Quoting DocHolliday
{quote} ok.. this may be why i abandon s/r - are you saying you are buying or selling?? where is your current buy or sell line and how does it equal a buy or sell 'trigger'.. I would like to follow this and see if someone can show S/R that works.. everytime i see someone do S/R the line they have moves? but then how do you trade it if line is moving? Please do not take as criticism, I am really trying to see if there is a method that holds water with S/R - maybe I just was not applying it correctly. Always open to learning something new if it can...
u can pending orders...
buy low pip sl
and sellstop
Dear Friend certainty does not exist on the market. Statistics and probability and numerical analysis should be considered.
Make way, just in full swing. The same way.
I see better sales. And short-term buy.
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  • #453,135
  • Jun 17, 2017 7:50pm Jun 17, 2017 7:50pm
Quoting nesta
{quote} u can pending orders... buy low pip sl and sellstop Dear Friend certainty does not exist on the market. Statistics and probability and numerical analysis should be considered. Make way, just in full swing. The same way. I see better sales. And short-term buy.
Certainly i understand every trader has to have their own strategy and rules for when to enter the trade.. but let me give an example here using NU chart because easier to illustrate. As a wave trader I see the 240 chart and without detail into flats etc, lets just say im looking for a sell setup.. so based on 240 i want to trade the 60 mins.. this one has made an impulse down breaking the trend and is making a flag/pull back --- this is attractive sell set up for me as a wave guy-- and I will post this chart with the notation as here [sell the break] pretty obvious where i expect it to go after in the trade... obviously it is up to each trader to have entry strategy on what is break to them etc.. 1 pip/ 10 pip/time factor whatever.. but it seems pretty clear..

Now I see S/R guys often put the line (green) on the uptrend and say - buy retest it is now support.. then when it bounces before getting there and is moving up as now.. they change it to a box (which i placed also) but this box is after the fact.. and they say - "did you buy" in this support area.. so now it is an 'area' .. and the size of those boxes/areas change and they are place after.... if it breaks the original support 'line' but go back up .. the new "box" goes below the line now and maybe a little above. This was my experience w S/R and why i find it is not really tradeable, at least for me -- so that is why i was asking if you have a chart example for a set up when you would buy or sell .. say on this NU chart.. thanks for taking time to entertain my questions -- Doc
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  • #453,136
  • Jun 17, 2017 8:37pm Jun 17, 2017 8:37pm
Quoting DocHolliday
{quote} Certainly i understand every trader has to have their own strategy and rules for when to enter the trade.. but let me give an example here using NU chart because easier to illustrate. As a wave trader I see the 240 chart and without detail into flats etc, lets just say im looking for a sell setup.. so based on 240 i want to trade the 60 mins.. this one has made an impulse down breaking the trend and is making a flag/pull back --- this is attractive sell set up for me as a wave guy-- and I will post this chart with the notation as here [sell...
Thank you for your interesting of the expert and the primary good.
But in your chart, I see nzdusd! I had to gbpusd analysis. Maybe you're looking for is example.
In any case, thank you.
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  • #453,137
  • Jun 18, 2017 12:03am Jun 18, 2017 12:03am
Quoting nesta
{quote} Thank you for your interesting of the expert and the primary good. But in your chart, I see nzdusd! I had to gbpusd analysis. Maybe you're looking for is example. In any case, thank you.
yes .. i am aware it is NZDUSD -- it was easier to show example and I was asking if you can show on the NU chart how you trade it with S/R... thanks.
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  • #453,138
  • Jun 18, 2017 12:39am Jun 18, 2017 12:39am
GU H4 (19-23 JUN 2017)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 50 KB
Self discipline It is a practice
  • #453,139
  • Jun 18, 2017 5:15pm Jun 18, 2017 5:15pm
A small gap down in H4 chart ahead of Brexit negotiation.
  • #453,140
  • Jun 18, 2017 6:16pm Jun 18, 2017 6:16pm
Quoting akiga
{quote} Nice info, thanks
Just to clarify akiga, I'm not into buying the pound at the moment but looking for areas to sell
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