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Cable Update (GBPUSD)

  • #547,901
  • Sep 13, 2020 5:52am Sep 13, 2020 5:52am
Quoting xRedStaRx
{quote} You should always trade in the direction of the H4/D1. The problem is people have different definitions of it, and naturally, most people are wrong. The daily is bullish to me, we have the final target yet.
You were seeing 1,37 when it was 1,33

what tells us you are wrong again?
Make money by doing the opposite of Giveachance aka loser
  • #547,902
  • Sep 13, 2020 6:20am Sep 13, 2020 6:20am
Quoting nessus94
{quote} You were seeing 1,37 when it was 1,33 what tells us you are wrong again?
What do you mean by that? Why do you think I'm wrong?
  • #547,903
  • Sep 13, 2020 6:22am Sep 13, 2020 6:22am
Quoting Riskonfx
{quote} LOL - Even Red gets it wrong.... 1.37 kek
Well, well, look who it is
  • #547,904
  • Sep 13, 2020 6:27am Sep 13, 2020 6:27am
Quoting xRedStaRx
{quote} Well, well, look who it is
For that reason

it could easily go to 1,22-1,24 i think
Make money by doing the opposite of Giveachance aka loser
  • #547,905
  • Sep 13, 2020 6:31am Sep 13, 2020 6:31am
Quoting nessus94
{quote} For that reason it could easily go to 1,22-1,24 i think
This is a daily buy level for GBP, if 1.2700 doesn't break, we will go to 1.3700 very soon. You need to watch all the pairs to get an idea of institutional positioning on a daily to weekly level.
  • #547,906
  • Edited 8:18am Sep 13, 2020 8:07am | Edited 8:18am
W/e analysis cont...

The next and last arguably 'major' dly/wkly asc t/line [that joins 2074 with 2252 swing lo's] will come thru on monday's daily candle circa 2570 - so unlikely to be hit on monday re adr in any downside move - but anything can happen, particularly in these febrile times/market conditions we are in. Of course if we get an upside move and friday's daily candle becomes the middle candle in a new fractal price pivot on that t/f then a new asc t/line can be joined to it on that t/f from 1411. Daily is below..

151 pips has been the deepest pullback so far in this move down from 3482 to friday's 2762 lo.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 75 KB
Trader with an Edge.
  • #547,907
  • Sep 13, 2020 8:10am Sep 13, 2020 8:10am
Quoting xRedStaRx
{quote} This is a daily buy level for GBP, if 1.2700 doesn't break, we will go to 1.3700 very soon. You need to watch all the pairs to get an idea of institutional positioning on a daily to weekly level.
You mention institutional positioning but seem to be unaware that they are still net-short. I can see us going as low as 1.20 but we shall see. This downtrend has only just begun. I'm hoping for a retrace to the 1.32 region to add shorts. A double top at 1.35 would be even better but I doubt we will get there.
  • #547,908
  • Edited 9:18am Sep 13, 2020 8:27am | Edited 9:18am
Quoting Scotteyy
{quote} You mention institutional positioning but seem to be unaware that they are still net-short. I can see us going as low as 1.20 but we shall see. This downtrend has only just begun. I'm hoping for a retrace to the 1.32 region to add shorts. A double top at 1.35 would be even better but I doubt we will get there.
Yes indeed the sell just began. I will consider going long when the WSW zone is tested..

IMO
Le$$ I$ More
  • #547,909
  • Sep 13, 2020 8:48am Sep 13, 2020 8:48am
Targets for coming weeks:

If 1.2774 will brake i will aim to 1.2550. If 1.2550 brakes 1.2280 last target.

Maybe we can get some help this week from unemplyment rate and boe.
Twitter: Rummer_grapes
  • #547,910
  • Sep 13, 2020 8:53am Sep 13, 2020 8:53am
Quoting Bacco
Targets for coming weeks: If 1.2774 will brake i will aim to 1.2550. If 1.2550 brakes 1.2280 last target. Maybe we can get some help this week from unemplyment rate and boe.
i think if it closes below that
  • #547,911
  • Sep 13, 2020 10:33am Sep 13, 2020 10:33am
I think (so) next 4 weeks we should follow fundamentals rather than technicals. Any sign of EU deal would be excessively bullish from this point and surely other hand no deal would be catastrophic. There are lots of risk rewards in coming days.
Some Tory MPs, press (media) and opposition started make pressure on Boris. He is stubborn we know. Will he step back on no deal idea? Will he seek another solutions? Is that all a part of game? Or we all heading to full brexit with no deal? Border in Ireland?
Its not an advice and sorry for grammar.
  • #547,912
  • Sep 13, 2020 10:38am Sep 13, 2020 10:38am
if we have good brexit news, probably c this
or
in bad news situation probably c pic2
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: bad new 11 sep.png Size: 27 KB
  • #547,913
  • Sep 13, 2020 10:55am Sep 13, 2020 10:55am
Quoting oundar
I think (so) next 4 weeks we should follow fundamentals rather than technicals. Any sign of EU deal would be excessively bullish from this point and surely other hand no deal would be catastrophic. There are lots of risk rewards in coming days. Some Tory MPs, press (media) and opposition started make pressure on Boris. He is stubborn we know. Will he step back on no deal idea? Will he seek another solutions? Is that all a part of game? Or we all heading to full brexit with no deal? Border in Ireland?
Even as an exclusively technical trader I look to understand the fundie/macro environment/events that drive price and as technicals - particularly PA are a reflection of this then all I need to know is what the PA conditions are on the t/f's of interest to me and where the potential supp and res is, and act accordingly per my edge. Obviously in a strongly trending market/move with a price reaction to a specific event risk (scheduled or unscheduled) sometimes but not exclusively as opposed to price discovery as a result of the'general' fundie/macro environment, which can sometimes have a similar effect, I am careful when going counter trend/move re target expectations and from where.
Trader with an Edge.
  • #547,914
  • Sep 13, 2020 11:00am Sep 13, 2020 11:00am
daily chart... the PA hit 200 day SMA.

Can bounce some.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 29 KB
Intraday only.
  • #547,915
  • Edited 1:06pm Sep 13, 2020 11:10am | Edited 1:06pm
Possible bounce Zones

1.2724
1.2692

Destinations...

1.3270
1.3680

Duration

October 2020 - February 2021

Note: Ensure equity can tolerate 1.2400.

Peace.
Data + Stat + Risk/Emotions Management
  • #547,916
  • Sep 13, 2020 12:18pm Sep 13, 2020 12:18pm
going long minimum price out, buy it

max target 1.8

us will going bad really bad

oil price going thru the rooffffffff,
  • #547,917
  • Sep 13, 2020 1:05pm Sep 13, 2020 1:05pm
Quoting Georginson
Possible bounce Zones 1.2724 1.2692 Destinations... 1.3270 1.3680 Duration October 2020 - February 2021.
any reasons for this number George?

Can you provide charts ?

My reasoning is 200 day SMA.
Intraday only.
  • #547,918
  • Sep 13, 2020 1:49pm Sep 13, 2020 1:49pm
eu, ej, au under scanner by me for possible short on Monday
Intraday only.
  • #547,919
  • Sep 13, 2020 3:23pm Sep 13, 2020 3:23pm
Quoting OnlineAddict
{quote} That weekly chart looks both bearish and bullish, looking from different angles...so I am really curious what next week candle will look like. Some gap up wouldn't be a surprise either.
Looks like we'll have a small gap up of 20 pips.
Everyone can see the chart, but only a few can actually read it.
  • #547,920
  • Sep 13, 2020 3:24pm Sep 13, 2020 3:24pm
Quoting navk
eu, ej, au under scanner by me for possible short on Monday
I think EU will go slowly up until FED on wednesday.
Everyone can see the chart, but only a few can actually read it.
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