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Cable Update (GBPUSD)

  • #476,821
  • May 1, 2019 2:03pm May 1, 2019 2:03pm
Well that was disappointing. 30pips
Wheres the day the FOMC meetings made a 100-200pip move.

Thought it would be a nice quick move. Ag well so much for news trading.
Thats why i dont bother with news anymore. Its just noise.

Regardless what the FOMC meeting was going to be the GBP was at a sell zone on my analysis.
  • #476,822
  • May 1, 2019 2:10pm May 1, 2019 2:10pm
Heres a simple example.
Never under estimate the power of a simple Exponential moving average. No need for fancy indicators.
Notice all the old trades. Always taking profit at the Yellow moving average.
You trade towards it or away from it. That simple.
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red lines are short trades Blue lines are long trades.
  • #476,823
  • May 1, 2019 2:55pm May 1, 2019 2:55pm
Inserted Video
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #476,824
  • Edited 3:48pm May 1, 2019 3:34pm | Edited 3:48pm
Quoting Henry2501
Well that was disappointing. 30pips Wheres the day the FOMC meetings made a 100-200pip move. Thought it would be a nice quick move. Ag well so much for news trading. Thats why i dont bother with news anymore. Its just noise. Regardless what the FOMC meeting was going to be the GBP was at a sell zone on my analysis.
Well said, that includes NFP too. These days they barely move the market by 100 pips, back then a 200 pip move was very regular after FOMC or NFP. Now you're either trading price action or using moving averages with less attention to the news.

Heads up, daily pinbar on GBPUSD. My short trades are off.
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when you can accurately predict the future, you leave nothing to chance.
  • #476,825
  • May 1, 2019 4:49pm May 1, 2019 4:49pm
Quoting zizoo
{quote} Well said, that includes NFP too. These days they barely move the market by 100 pips, back then a 200 pip move was very regular after FOMC or NFP. Now you're either trading price action or using moving averages with less attention to the news. Heads up, daily pinbar on GBPUSD. My short trades are off. {image}
yep i used to trade FOMC on breakouts even eur/usd used to move 150 pips in 2 seconds! The rest of the day was candle as high as your monitor LOL Then they got wise to that after couple of years and started the rapid pump n dump trades almost as fast. Mind you that was 20 years ago
  • #476,826
  • May 1, 2019 8:42pm May 1, 2019 8:42pm
Quoting zizoo
{quote} Well said, that includes NFP too. These days they barely move the market by 100 pips, back then a 200 pip move was very regular after FOMC or NFP. Now you're either trading price action or using moving averages with less attention to the news. Heads up, daily pinbar on GBPUSD. My short trades are off. {image}
Sorry, my English is not so good...
By "My short trades are off.", you means, you close ur short trades or u open short trades ?
Im confused.

I also saw that pin bar, but the wick is not so long.
Im still testing for short though.
And also tomorrow is NFP, it render any analysis "Non-sense" for a short period of time.

Best of luck.
  • #476,827
  • May 1, 2019 10:44pm May 1, 2019 10:44pm
My thoughts are gbpusd still has more room to the upside until NFP
  • #476,828
  • Edited 1:56am May 2, 2019 12:27am | Edited 1:56am
ok to move forwards possibly , correct 3043/32/26/009/ most likely +2990/2974 to continue bull, any or all .in daily tf limit down for up 2946 and may need few days play and so for this levels may try catch more & new highs like 3118/32/46 to a sell off to get limit ,so possible now play levels above 3000 to up this week end . will look just breaks 3026 down to up moves .lets see
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #476,829
  • May 2, 2019 1:13am May 2, 2019 1:13am
Bear Break out? I think London cable bridge is about to come down
  • #476,830
  • May 2, 2019 1:15am May 2, 2019 1:15am
Quoting kayodAfolab
Bear Break out? I think London cable bridge is about to come down
On H1 might this might be the case
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persistence and determination alone are omnipotent
  • #476,831
  • May 2, 2019 1:16am May 2, 2019 1:16am
GBPUSD is a ranging market atm.

KP

Quoting kayodAfolab
Bear Break out? I think London cable bridge is about to come down
Do your homework, follow the footprints of smart money
  • #476,832
  • May 2, 2019 1:51am May 2, 2019 1:51am
GooD Morning

Please be careful on the GBP if you went short last night.
There seem to be a strong resistance at 1.30422 area.

I am hanging on to my short trades for now.
If you worried and you shorted with me last night then please bring your stop to break even.

We also have a strong resistance at 1.311 area as per my previous long trades last week. So she might push up to that level then come down again.

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  • #476,833
  • May 2, 2019 1:58am May 2, 2019 1:58am
Ladies and Gentlemen,

Whatever my analysis is, I should be aware of the BOE announcements later today. It's nice opportunity for spikes and stop sweeping either direction as before the news, so after.

Trade safe.
Not to Advance is to Fall Back
  • #476,834
  • May 2, 2019 2:08am May 2, 2019 2:08am
if 3060 does not break, 3016 is what one can aim for.
Intraday only.
  • #476,835
  • May 2, 2019 2:19am May 2, 2019 2:19am
be careful of BOE
There is a important support 1.3040 and a strong resistance 1.3076 ( trend 45 and MA200 reaches together )
Attached Image
  • #476,836
  • May 2, 2019 2:21am May 2, 2019 2:21am
Quoting navk
if 3060 does not break, 3016 is what one can aim for.
What if breaking 3060 is actually a trap, especially before news? 3016 seems valid enough but 3060 and above seems like fake reversal.
  • #476,837
  • May 2, 2019 2:25am May 2, 2019 2:25am
Quoting navk
if 3060 does not break, 3016 is what one can aim for.
it trigger gun at the wrong place , may not sustain long time , and likely deeper correction down below 3000 possible .will watch 3074 at & above also ok as fake frankie and scalping short test there as range increased
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #476,838
  • May 2, 2019 2:34am May 2, 2019 2:34am
Quoting fontu
{quote} it trigger gun at the wrong place , may not sustain long time , and likely deeper correction down below 3000 possible .will watch 3074 at & above also ok as fake frankie and scalping short test there as range increased {image}
noted
Intraday only.
  • #476,839
  • May 2, 2019 3:13am May 2, 2019 3:13am
Attached Image (click to enlarge)
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  • #476,840
  • May 2, 2019 3:16am May 2, 2019 3:16am
Added another short target is still 1.2885 area.

I like the fact that the bulls lost their urge to buy-Maybe they realized the earth is flat so they jumped of the edge
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