My outlook for short term (only technical, because I don't understand fundamental): I can see a divergence on 4hour chart in stochastic and price retraced back to a former resistance trendline, which is now support. I "think" it will go higher now ...

Cable Update (GBPUSD)

Nosedive means a strong downmove, like a plane which flying vertical down. ------ Strong resistance at 1.9460 in daily chart: image

Cable Update (GBPUSD)

If the market wants to go higher, it would retrace back to the top in the middle of the channel and then breakout, or the opposite for a downmove.

Daily Cable Analysis

Depends on used risk and money management. But yeah, you can see where the market will go if you have a look on these statistics because most traders lose. If you see massive people selling in a uptrend, go long.

Cable Update (GBPUSD)

Wow. Nice chart. I don't count WXY because I find them too complex. Thats merely curve-fitting.

Cable Update (GBPUSD)

On daily, he reached the bottom of a prior daily upchannel exactly now. But I take my targets and think price will retrace back to where we are now later today. Never try to find the retracement point, thats because I think it will go a little ...

Cable Update (GBPUSD)

As I had prior expected, its wave 4 up or subwave 3 up, then others could say its a correction C up. LOL You can count it like you want, as long you are in the rules of EW trading. 2.000 is something I thought we will see this year because dollar ...

Cable Update (GBPUSD)

As I said, the wonder of trendlines. It sounds like you never experienced such a day before. How fast people can forget.

Cable Update (GBPUSD)

The wonder of trendlines: image Really amazing how the price trends exactly on these lines along its way into the future.

Cable Update (GBPUSD)

Seems it depends on how much swissy or gold I have. (real gold or swissy, not virtual money on a brokers account)

Cable Update (GBPUSD)

Its offtopic, but which currency would be the safest if the dollar crashes and a global economic crisis is going on? Swissy maybe? Beside of Gold I think, buts not a currency. Because currencies are traded against each other I assume that someone ...

Cable Update (GBPUSD)

You forgot 'time', its a direction too.

Cable Update (GBPUSD)

That would mean trading against the trend.

Cable Update (GBPUSD)

I'm long to target 9470-9480 for tomorrow and then higher for the next days, up to 9550, before any downtrend will continue. That was my target since the next day after the asian selloff. But this sideway sh*t freaked me out.

Cable Update (GBPUSD)

Now everyone in every thread in denial phase.

Cable Update (GBPUSD)

@SunTrader: Depends on how you measure the trading direction. In every thread here I saw everyone believing it will go south as a wave 5 (subwave 3), breaking the last low. This pair is all about bluff and mask.

Cable Update (GBPUSD)

Not troday. But it looks to me like a strong uptrend. You can measure it when the price will not retrace much (not lower than pivot point 9300), then it is an uptrend. Tomorrow we will see 9470 or more.

Cable Update (GBPUSD)

It looked exactly like prior patterns of december and january, why should cable now show other patterns? Its typical: When everyone expect a clear direction, its only a false breakout and it will head away into the opposite. I see this speculator ...

Cable Update (GBPUSD)

I was right. And for sure, we will see 9470 next. :

Cable Update (GBPUSD)

The problem is, fundamentals are often curve-fitted into what was told in news or rumours after a reaction of the market happened. Thats sounds often great but is sh*t in my opinion. But I like to read the news you are posting. Keep on it!

Cable Update (GBPUSD)