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Cable

CABLE BEARISH CORRECTION MAY CAUSE PRICE TO FALL ON H4On August 2, we provided our long term view on GBPUSD. Zooming into H4, Cable is now on correction and the structure looks more bearish. Expecting price to fall briefly to 1.30216 next week Monday & if price is rejected between 1.29978 & 1.30216, then cable could start another rally to 1.3333 (as explained in our August 2nd post). However, a violation of 1.29978 & 1.30216 will see the currency pair testing weekly mean price around 1.27000 & 1.28000. N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Long
by BullBearMkt
GBPUSD - Within the range!GBPUSD - Yesterday, I posted bear flag formation - we did get to one of the support levels I been looking at but that key pull back I mentioned was key! We are range bound between the areas of: Resistance 1: 1.31233 Resistance 2: 1.31794 Support 1: 1.30151 Support 2: 1.29831 Pattern: Triangle - Consolidating at this moment of time. If we were to go below these key support areas, a further pull back will continue further - However, above resistance area 1 i'd be bullish towards 2nd resistance area. Even within the ranges, there are key trading opportunities. Which you could just focus on the levels and take the trading opportunities within smaller time frames. Larger picture overall on the daily - We are within the range as most majors currently are - Keep an eye on that. Overall, seek whatever direction the momentum goes towards. Key tips: - Longer time frame, indicates shorter time frame movement. - Add alerts it will make it easier for any price movement that develops. ( Remember: Just an idea, not a recommendation! ) Trade Journal.
by Trade_Journal
GBPUSD - More downside? GBPUSD - What clean moves we have had. When it comes to trading and you don't understand what's going on go through higher time frames and concentrate on the levels and then go through more in depth technical approach the shorter the time frames you go into or having few bad runs - take a day or two off and come back refreshed. I've been selling this pair since 1.31200 areas. Now is a key area to be looking at - Why? Let me explain further...! Technical terms: We have a bear flag forming - it's having a pull back as this current time - But question yourself for me if this pull back goes extending further towards lower ends of 1.31010 areas. Could be a fake break out! I will be thinking perhaps bulls are back in control and will be looking at the price action to keep an eye on. However, if this pull back validates and we have further weakness bears are still in control under 1.30150 area. You could measure the bear flag which reach towards areas of: 1.29558. You could even put: EMA's, Fib Retracement, or Elliott wave. Either direction - With my analysis, I keep a non-bias approach. Keep in mind - The beautiful pull back we had in precious metals, 10 yr/5 yr T notes and DXY. Just a trade idea, not a recommendation. All the best, Trade Journal.
by Trade_Journal
Cable GBP/USD (Speak low, if you speak love.)View On GBP/USD (10 AUG 2020) We are the bulling trend of GBP seems to get stalled. 1.309-1.32 shall be strong support. The price shall have a hard time breaking up. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
by SonicDeejay
GBPUSD - Intraday - At a very interesting area. It's a pair that some traders are finding difficult to trade but let me break it down for you: Technical: - Bull Flag - Resistance area: 1.31400 areas and that's where the target of the Bull flag would end. (Patterns don't always work out - that's another thing to keep in mind that's why looking at the levels will help). If we were to decline the areas that seems interesting: - Support area of 1.30650 if we were to decline further, between 1.30300-1.30080 areas. Bearing in mind - the monthly conditions we are in august - for further analysis you could look at seasonality. Remember: Just an idea, not a trade recommendation.
by Trade_Journal
Cable Long planHi guys, happy Tuesday. A long position is on the cards here for the cable pair. as you can see major trend line resistance has been holding now for quite some time and price cant seem to break it try as though it might. A minor 15m resistance has started to also form on the 1.30585 area, which is where price is currently hovering. We took a nice short position yesterday on the pair which was spotted on my previous idea. As always though we stick to our plan. Price is currently in an uptrend there fore we trade with the trend (the trend is ALWAYS out friend). I have a feeling that price will once again reject the major trend line and shoot up. I will be waiting for all of my criteria to be met before entering this one as always. The criteria being: RSI above 50 MACD histogram coming from negative to positive/slightly negative to show the beginning of a new trend/reversal. Stochastic heading up but not overbought. And finally the 5 and 10 SMA cross. No major data coming out of either currency so i don't think the fundamentally are going to affect price too much today. But we will keep a close eye as always. Cheers guys, Let me know your thoughts.
Long
by Ethan_FX
Cable, watch it for the possible channel It seems that we are in the midst of making a big channel here, 1- Except for the weekly trend lines, 2- The 38.2% extension of the previous up move and 3- The possible 3rd wave completion of a 5 wave up move Suggest that we would start a down move, likely in a corrective fashion, soon. So we are watching it to see how this very early forecast would play out. Sorry for the messy chart, had to consider everything 😉 Happy Trading, Stay Green! ✌️ ➖➖➖➖➖➖➖➖➖➖➖➖➖ 💬 Please let me know your view about the idea 🔗 Check out the "Related ideas..." in the links below too ➖➖➖➖➖➖➖➖➖➖➖➖➖
Short
by Forexian
1
Cable, An aggressive sellI took an aggressive SELL just when it touched a "not so important weekly trend line". If you are not an aggressive trader, it's better to wait for a 4H candle to close following a flag for confirmation to find your sell setup. If you are an aggressive trader and your strategy allows you to take this kind of trades, then go ahead and put an order under it with a tight stop loss To see what I mean by the "wait for the trade setup" please check out the "Related ideas..." below and see how in the last forecast (Fiber, A SELL setup is in the horizon) putting an order and not jumping in the trade, saved us of taking a loss Happy Trading, Stay Green! ✌️ ➖➖➖➖➖➖➖➖➖➖➖➖➖ 💬 Please let me know your view about the idea 🔗 Check out the "Related ideas..." in the links below too ➖➖➖➖➖➖➖➖➖➖➖➖➖ 📌 Kindly note that Forexian is not a signal provider. The published idea is ONLY our views and analysis of the market! Forexian does not take any responsibility for your decisions and/or trades.
Short
by Forexian
2
Mid-term outlook / idea for GBPUSD 🔌Today I'd like to share my GBPUSD trade idea with you. We're seeing Dollar weakness as at end of July. I expect GBPUSD to continue it's rally to in and around the 1.30000 psychological level. I also expect price to react quite strongly at this level, to push to the downside. Potential downside targets can be in and around the 1.24500 level (550 Pips). Some confluent factors to this target are the channel and potential liquidity lying under the bars / wicks formed early in July. After the retracement to 1.24500 I'll look to go long targeting the pre-covid level of 1.32000 for a potential 750 Pip rally. something I'll be looking at for confluences - stronger DXY in upcoming weeks, as well as a rise in the yield of 10-year Treasury Notes. So lower prices! But all of this is just speculation - happy trading.
by DreyerJEK