GBPCAD 4 Hr chart. Range: 1.70 - 1.74. Disclaimer: Trade on your own Risk. Forex Trading is very risky. Be careful.
S/R : 1.68xx/ 1.76xx.
S/R : 1.68xx/ 1.76xx.
Cable Update - Continued 102 replies
Cable (GBPUSD) vs Euro (EURUSD) 31 replies
Cable Update (GBP/USD) without Idiots 23 replies
Why is GBPUSD called cable? 66 replies
cable short for gbpusd? 6 replies
DislikedThe momentum down is so big now. Shorting is the only option these days. -possibility of rate hike has rising in the past week for USD -BoE even holds the door open to 0% interest rate and the market is anticipating such a move to happen as well. The mistake I see a lot of people make is to think that GBP used to be so much higher and that it belongs there, but that way of thinking can be dangerous. If you didn't have any historic data of GBP, would you be long or short, given the circumstances?Ignored
Disliked{quote} Ever since Brexit from memory I haven't read any post talking about the good ol days of 1.6000 but that doesn't mean cable can't rally a couple of hundred pips and we can take advantage of said move.... I'd just like a move back up to 3100, could certainly grab 50-60 piperoonies......LOLIgnored
Dislikeddropping that rate was a sham no need for it at all . I think it was done as a slap in the face and to devalue the pound as buying and trading outside EU makes UK Imports expensive ? I think the more happy medium is for the pounds new average price would be in the 1.450 range .Ignored
Disliked{quote} Why trade the hard way? I know 0 people who are profitable trading against the trend. They always get stopped out by a trending spike. I wish you good luck, because we are both obviously biased to one side, but momentum and trends have learned me to not underestimate certain actions and the effects it has on the short and long term trend.Ignored
Disliked{quote} Thanks for the heads up, just so you know I'm not going against the trend as my trading is mostly day trading and try to close a position on the day if my positioning is correct. I do have a few open positions... And last week was a very good trading week for me...It felt like a slog all week for some reason but at the end of it I was up 166%, so I was very pleased with myself...LOLIgnored
Disliked{quote} i agree with you. we are going up with gu 3130* minimumIgnored
Disliked{quote} That's interesting, I'm just watching a video on youtube by a good trader, he uses elliot wave and has no problem seeing G/U go to 3710 and even as high as 4200......myself I would not be comfortable setting TP at those levels if I was a swing trader but this guys got loads of experience. He has a buy at 3066 with SL at 2910(I think) He has another buy at 3130 Saying that there is no guarantee he's right.....but after two big drops in two days there could be some selling exhaustion...Ignored