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cable short for gbpusd? 8 replies

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Cable Update (GBPUSD)

it's been considerably harder to trade long for over 40 weeks actually or have any bullish over distance view
if you iron out the noise
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#doyourownanalysisordietryin
Quoting Bones
it's been considerably harder to trade long for over 40 weeks actually or have any bullish over distance view if you iron out the noise {image}
True, this is one great chart to be much clear. Anyway long-shorts go side by side for day weekly traders! 3rd candle can be ranging before decision : go towards the previous low or previous top without changing intentions greatly!! Just risky extended ranges what may happen here.
Not understand?better not follow my analyses!doubt clearer first, risks ++
Yea it depends how far you want to go with a trade in the distance ,
but still, if somethings going to fail or you need to be saved by the trend
it's been short
no argument
here's the thing I said all along is if its going crazy wipeout orders the higher tf says down,
then we had the move on the 2nd

Quoting fontu
{quote} True, this is one great chart to be much clear. Anyway long-shorts go side by side for day weekly traders! 3rd candle can be ranging before decision : go towards the previous low or previous top without changing intentions greatly!! Just risky extended ranges what may happen here.
#doyourownanalysisordietryin
that day should be a prime example of what higher high TFs can do to save you being caught
#doyourownanalysisordietryin
everything is easier if you can work the direction out period, that's why I'm looking much higher
#doyourownanalysisordietryin
Quoting TheJoker
{quote} Thank you. Bearish but depends on the vote on 2 Jan. I expect it to take a dive after then regardless of the vote outcome. Dammed if they do; dammed if they don't.
Bones, the 2nd of Jan drop was 'predicted' but many people, including FF did not note the importance of the vote of the 2nd jan's emergency cabinet meeting. FF did not even mention it in the feed.
Quoting Bones
everything is easier if you can work the direction out period, that's why I'm looking much higher
Nice.

3 questions:
Bones - a little more punctuation

Bones, do you use Moving Av. in your trades?? 100 or 50 MA does wonders.

Guys, what do you think of recent lies about Deal/No Deal, Vote No vote???
Will it drop pound (fear out) or strengthen ( no Brex at all)???
Add to this the normal Trumpy behavior (up)......
What way do you see for Monday and Tuesday etc??

I'm traveling Euro so I'm waiting there. To buy.

But I'm curious about pound fundamental??
Beware of robber banks (RB), bad advisors.
Quoting Not-KPMG
{quote} Nice. 3 questions: Bones - a little more punctuation Bones, do you use Moving Av. in your trades?? 100 or 50 MA does wonders. Guys, what do you think of recent lies about Deal/No Deal, Vote No vote??? Will it drop pound (fear out) or strengthen ( no Brex at all)??? Add to this the normal Trumpy behavior (up)...... What way do you see for Monday and Tuesday etc?? I'm traveling Euro so I'm waiting there. To buy. But I'm curious about pound fundamental??
Fundamentally the markets seem to mostly depend on the twitter feeds and gestures of our high class elite lol ... or their statements that they will carry on with their looney clinic alone if needed ... I just wait for it and the markets reaction to it, no need to be crystal ball guru calling out some magic levels ...

So guess for Brexit it also sums up the fundamental situation pretty well ... please do not mention rational aspects like the UK economic situation atm, as I think the market does not really care lol ...
Fix up, trade sharp ...
Quoting Not-KPMG
{quote} Nice. 3 questions: Bones - a little more punctuation Bones, do you use Moving Av. in your trades?? 100 or 50 MA does wonders. Guys, what do you think of recent lies about Deal/No Deal, Vote No vote??? Will it drop pound (fear out) or strengthen ( no Brex at all)??? Add to this the normal Trumpy behavior (up)...... What way do you see for Monday and Tuesday etc?? I'm traveling Euro so I'm waiting there. To buy. But I'm curious about pound fundamental??
I have at least 3 indicators plus my personal bias that the we should be below 2600, while I do have at least one indicator showing that 2800 is distinct possibility. If we hit 2800 and stay then I would most likely change to short term bulling. Overall though, I see the risk is mostly on the bulls, not the bears. 2400 will stay a possibility for a while still.

As always, don't trade on my speculations & opinions unless you want to lose your money, I'm just adding to the discussion.
Quoting TheJoker
{quote} I have at least 3 indicators plus my personal bias that the we should be below 2600, while I do have at least one indicator showing that 2800 is distinct possibility. If we hit 2800 and stay then I would most likely change to short term bulling. Overall though, I see the risk is mostly on the bulls, not the bears. 2400 will stay a possibility for a while still. As always, don't trade on my speculations & opinions unless you want to lose your money, I'm just adding to the discussion.
EU dipped under 1.14; I was surprised that GU didn't close nearer 1.27 on friday. Shrugs.
I see most of the levels I mentioned in previous posts , yes 2771,2814/38 to even 2926 at risk near immediately /next week and in the process of bull tries may retest 2657/2516/03 again . 2424 iis very good level to bull & have multiple supports to do so but this was accomplished in just spike , no solid close to have bear continuation & hence price may back again there next time. 2838/2926 may be next brexit tanking level for 2503 or more down plays to continue bear or temporarily halt station.so overall 2771/2838/2926 to 2500/2362 may play next 1-2 weeks before bound for 3050 areas . not like eu but playing lows still not over to more higher levels in this pair . Anyway stay carefully in all crazy moves possible this way or that way.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
Quoting fontu
I see most of the levels I mentioned in previous posts , yes 2771,2814/38 to even 2926 at risk near immediately /next week and in the process of bull tries may retest 2657/2516/03 again . 2424 iis very good level to bull & have multiple supports to do so but this was accomplished in just spike , no solid close to have bear continuation & hence price may back again there next time. 2838/2926 may be next brexit tanking level for 2503 or more down plays to continue bear or temporarily halt station.so overall 2771/2838/2926...
I think I am with you on that 3050 but I did post in November that 3050 was a touching tl and if you recall it went over to 3070 ish as a fake break . But that just tells me in the near future it's going to retake that tl and hit 3070 so yes we could be on the way . Also on the weekly chart if you look at the doji and the 2 tails after that we also find we have a tl bounce last week . And a close cross over 10 and 20 ema on the day chart so if that crosses I think I will be in big lots as to the plan. Regards E
I'm not a great literate, more practical the only things I was good at school was woodwork -metalwork
my handwriting is ugly
I do have a ribbon on some charts also pivots ,I really like Bollinger with candles and that's my definition of oversold

Quoting Not-KPMG
{quote} Nice. 3 questions: Bones - a little more punctuation Bones, do you use Moving Av. in your trades?? 100 or 50 MA does wonders. Guys, what do you think of recent lies about Deal/No Deal, Vote No vote??? Will it drop pound (fear out) or strengthen ( no Brex at all)??? Add to this the normal Trumpy behavior (up)...... What way do you see for Monday and Tuesday etc?? I'm traveling Euro so I'm waiting there. To buy. But I'm curious about pound fundamental??
#doyourownanalysisordietryin
the main thing above all is just price
the hand drawn 5-week candle is closed, and severed me very well to cut the noise
open now is important
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#doyourownanalysisordietryin
I'm not labeling it because its not clear to me
just saying its below the tl right now
#doyourownanalysisordietryin
I find it handy to choose my own open and have two tfs on the same chart ,
its something I developed myself
#doyourownanalysisordietryin
condensing data higher reveals much more info ,so reading higher tf is actually easier
#doyourownanalysisordietryin
the time I drew that cross on the top 5 weeks which looked bearish but wasn't exactly clear on w1
Cross I know is great that high TF
Now I can look back after many disagreements right here that the cross is actually something to sit up and listen to
go beyond everything is a pin bar


Quoting Bones
{image}{image}
#doyourownanalysisordietryin
Here's my take on cable, from the technical perspective of a swing trader.

A descending channel (blue) is discernible on the daily time frame and price action is operating in it. Last week Thursday, price action printed a bullish pinbar and was followed up on Friday by a further northward move. However, the horizontal resistance around 1.27500 hindered the bullish drive. We may see bulls make further attempt to take price action northwards at least in the early part of this week. Technically, the disposition is northwards on the short term, and southward on the medium term.


I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
US dollar will weaken.
Start. Last week
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