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Cable Update (GBPUSD)

  • #593,101
  • May 5, 2021 10:06am May 5, 2021 10:06am
Quoting BeeTogether
{quote} need to crack past 13920 towards 13940 those levels should help dictate short term long term movement as much as I’d love to see 14+ unless there is major swings tomorrow and also the BoE decision with potential tapering.
You think tapering? I haven't read any of the commentary yet

My instinct is they might try and lower real interest rates by increasing their asset purchasing program which means bearish cable

I like what SangReal is saying about reaching higher before the move down... just speculation though who knows. I thought it would reach above 1.40 last week and it caused me issues. I'm back on full scalp mode- much respect for the folks who can call out targets 100s of pips away, I can't do it

I think 1.3930-35 might be the cap today, could be wrong. Would be surprised if it doesn't reach above todays high. Very close to re-entering long 1.3906
  • #593,102
  • May 5, 2021 10:07am May 5, 2021 10:07am
I am no longer in a position but biased towards a bullish breakout due to the inverted h&s pattern.
I have loosely framed the price action and will wait for a strong breakout in whatever direction it chooses to go.
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  • #593,103
  • May 5, 2021 10:11am May 5, 2021 10:11am
Quoting JayBag
{quote} Abi we need learn work from you self .. Watin be your target sha.. I dey wait for low price sha
U sure say e no go take out my sl wey i adjust to 1.395. O d target 1.382 area and lower if e work. Whats your target boss
  • #593,104
  • May 5, 2021 10:12am May 5, 2021 10:12am
Quoting mysterio
{quote} You think tapering? I haven't read any of the commentary yet My instinct is they might try and lower real interest rates by increasing their asset purchasing program which means bearish cable I like what SangReal is saying about reaching higher before the move down... just speculation though who knows. I thought it would reach above 1.40 last week and it caused me issues. I'm back on full scalp mode- much respect for the folks who can call out targets 100s of pips away, I can't do it I think 1.3930-35 might be the cap today, could be wrong....

personally I think it’s a bit early however the article on DailyFX was interesting

Bank of England Preview: Will the BoE Taper QE?: https://www.dailyfx.com/forex/market...r.html/webview
Insane in the Brain..
  • #593,105
  • May 5, 2021 10:14am May 5, 2021 10:14am
Quoting BeeTogether
{quote} personally I think it’s a bit early however the article on DailyFX was interesting Bank of England Preview: Will the BoE Taper QE?: https://www.dailyfx.com/forex/market...r.html/webview
Yea I'm gonna be really surprised if they taper at this early stage. Still pretty much in lockdown, economy still in a precarious position. Buy the rumour sell the news I think..
  • #593,106
  • May 5, 2021 10:21am May 5, 2021 10:21am
Bullish -> above 1.396
Bearish -> below 1.38
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  • #593,107
  • May 5, 2021 10:22am May 5, 2021 10:22am
Quoting mysterio
{quote} Yea I'm gonna be really surprised if they taper at this early stage. Still pretty much in lockdown, economy still in a precarious position. Buy the rumour sell the news I think..
yeah!! I think the local elections will have more of an impact especially if BoE announcement is as expected
Insane in the Brain..
  • #593,108
  • May 5, 2021 10:24am May 5, 2021 10:24am
Is that Spike Lee I see on the horizon?
  • #593,109
  • May 5, 2021 10:28am May 5, 2021 10:28am
Quoting BeeTogether
{quote} yeah!! I think the local elections will have more of an impact especially if BoE announcement is as expected
For sure, there was a guy on Bloomberg there just said Sterling at 1.10 if there's Scottish independence

Looking forward to the wild ride wherever it goes!
  • #593,110
  • May 5, 2021 10:34am May 5, 2021 10:34am
Quoting PiploEscobar
Is that Spike Lee I see on the horizon?

too slow
  • #593,111
  • May 5, 2021 10:42am May 5, 2021 10:42am
Quoting PiploEscobar
Is that Spike Lee I see on the horizon?
You missed him! 15:40 was Spike
  • #593,112
  • May 5, 2021 10:47am May 5, 2021 10:47am
Quoting mysterio
{quote} For sure, there was a guy on Bloomberg there just said Sterling at 1.10 if there's Scottish independence Looking forward to the wild ride wherever it goes!
i think even allowing a referendum could see the pound drop below 120
Insane in the Brain..
  • #593,113
  • May 5, 2021 10:49am May 5, 2021 10:49am
Quoting mysterio
{quote} You missed him! 15:40 was Spike
Yeah might have Didn't TP at 1.39200. Be good if he circles back for an encore.
  • #593,114
  • May 5, 2021 10:51am May 5, 2021 10:51am
Head and Shoulder on M15. Lets rock and roll or not?
  • #593,115
  • May 5, 2021 10:56am May 5, 2021 10:56am
Quoting wanted
Sell limit 1.3930, it seem to be hard to 1.3950
so boring, until now not run this order, maybe tomorrow it reached then down
  • #593,116
  • Edited 11:22am May 5, 2021 11:06am | Edited 11:22am
GU

Holding to two small position for scalping.

At SRF for price to decide to break above or reverse.

Waiting for price action at LTF reaction.

EDIT :
Note:

Just an update, I find price action on candle stick works best when near support or resistant. just do that and you seldom wrong.

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  • #593,117
  • May 5, 2021 11:08am May 5, 2021 11:08am
Quoting wanted
{quote} so boring, until now not run this order, maybe tomorrow it reached then down
You may consider entering manually
  • #593,118
  • May 5, 2021 11:18am May 5, 2021 11:18am
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yes yes yes
  • #593,119
  • May 5, 2021 11:20am May 5, 2021 11:20am
Quoting BeeTogether
{quote} i think even allowing a referendum could see the pound drop below 120
I do not see a world where the Conservatives allow Indyref2. That being said, crazy times.
  • #593,120
  • May 5, 2021 11:25am May 5, 2021 11:25am
Quoting Nd10
{quote} U sure say e no go take out my sl wey i adjust to 1.395. O d target 1.382 area and lower if e work. Whats your target boss
1.391 suppose CAP am bro. I dey reason 1.320 but I get targets before that handle. Like 1.37146 etc...

Make we see how them run the matter finish.
Normally, Liu Kang suppose clear today but I nor know why the delay sha.

SS
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