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Cable Update (GBPUSD)

  • #486,381
  • Jul 23, 2019 8:30am Jul 23, 2019 8:30am
Quoting birdland
prepare for a wild upswing in the next two hours...
  • #486,382
  • Jul 23, 2019 8:30am Jul 23, 2019 8:30am
Quoting mbrown
{quote} I'm still laughing!!! Man, that long was such a howler!!!!
Maybe just a poor entry
  • #486,383
  • Jul 23, 2019 8:33am Jul 23, 2019 8:33am
Quoting Coreg2004
just the charts... {image} {image} {image}
no personal viewpoint, just the charts...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU 07.23.60M.PNG Size: 91 KB
Click to Enlarge Name: DX07.23.4H.PNG Size: 113 KB
Always trade your own plan...I don't provide trading signals.
  • #486,384
  • Jul 23, 2019 8:33am Jul 23, 2019 8:33am
Quoting directxxx
{quote} Maybe just a poor entry

The same difference.

It is no big deal, I'm just chuckling to myself about it. It is just a planned stop-out after-all.
  • #486,385
  • Jul 23, 2019 8:34am Jul 23, 2019 8:34am
If you are tempted to go southwards on the GU, wait for a pullback first. The consolidation mode is still very much in play on the daily time frame, even though the technicals favour bears. Presently, price action is operating in a narrow range falling wedge (blue) within a larger falling channel (blue). As price action is located a few pips to the wedge support trendline, it is better to wait for a northward pullback to a value area, perhaps the 1.24870 area, which is proximal to the weekly pivot, before looking for a sell trading setup.

Trade safe.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_July_23,_2019_D1.png Size: 51 KB
Do your homework, follow the footprints of smart money
  • #486,386
  • Jul 23, 2019 8:36am Jul 23, 2019 8:36am
Cable could be a great long . As mentioned before both sides want a deal, there was some mention in the papers about eu members in touch with boris;s party maybe trying to find a resolution who knows

as for the usd element fed expected to cut rates 25bps the interesting part is whether this will be start of an easing cycle or not. But long GU could be quite a nice cheeky long IMO
  • #486,387
  • Jul 23, 2019 8:38am Jul 23, 2019 8:38am
I wonder what Coreg2004 thinks!
  • #486,388
  • Jul 23, 2019 8:39am Jul 23, 2019 8:39am
Well to my pound is still showing weakness. 3 days ago just hit top of the falling wedge, had a false breakout and since then tanked down. 382 FIB also held very well and on top of that today at the noon we had that long wick candle rejecting the pivot point and the 50 EMA. I believe today we might see the bottom of the wedge 1.2400. I hope everybody is having a green day !
  • #486,389
  • Jul 23, 2019 8:41am Jul 23, 2019 8:41am
DXY is already in 'fake it til you make it' territory. Reversal anyone?
  • #486,390
  • Jul 23, 2019 8:44am Jul 23, 2019 8:44am
Quoting mbrown
I wonder what Coreg2004 thinks!
mbrown take the wild guess, come on mb you know how I trade ( we used to post similar charts, you with PF and I with channels)...Yes, I am bullish on GU...
Always trade your own plan...I don't provide trading signals.
  • #486,391
  • Jul 23, 2019 8:48am Jul 23, 2019 8:48am
Not many traders paid attention when I've posted this DXY setup last week.
Too bad. Ignorance is a bliss. Going forward, EU and GU will diverge, therefore best low risk play right now
is short EU and long GU, alternatively just short EURGBP and print stacks.

PS: obviously EU will bounce off the floor near 1100//1120. Wait and short sell the bounce.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 37 KB
Click to Enlarge Name: Screenshot2.png Size: 39 KB
  • #486,392
  • Jul 23, 2019 8:49am Jul 23, 2019 8:49am
Quoting Coreg2004
{quote} mbrown take the wild guess, come on mb you know how I trade ( we used to post similar charts, you with PF and I with channels)...Yes, I am bullish on GU...

I just needed the confirmation to make sure.
  • #486,393
  • Jul 23, 2019 8:54am Jul 23, 2019 8:54am
I was on the right path but i was confused and had lack of confidence at my own analysis, that's why after yesterday's 50 pips profit i didn't closed my trade at the first time but later I was closed at 20 pips profit and thought like others buy buy buy and now what a scenario of today!!!, I lost my profit and account due to buy lesson learned
It always seems impossible until it is done.
Annex_of_Realsoldier All Time Return: na
  • #486,394
  • Jul 23, 2019 8:55am Jul 23, 2019 8:55am
Quoting RRealSoldier
I was on the right path but i was confused and had lack of confidence at my own analysis, that's why after yesterday's 50 pips profit i didn't closed my trade at the first time but later I was closed at 20 pips profit and thought like others buy buy buy and now what a scenario of today!!!, I lost my profit and account due to buy lesson learned
Lost your account on one trade! You mean you lost the trade?
Don't trade what you think. Just what you see!!!
  • #486,395
  • Jul 23, 2019 8:59am Jul 23, 2019 8:59am
Quoting mbrown
{quote} I just needed the confirmation to make sure.
I don't want to duplicate comments because it might seem that I copy someone viewpoint... @hesron beaten me to it today...https://www.forexfactory.com/showthr...9#post12397779
Attached Image (click to enlarge)
Click to Enlarge Name: GU 07.23.60M.b.PNG Size: 90 KB
Always trade your own plan...I don't provide trading signals.
  • #486,396
  • Jul 23, 2019 9:00am Jul 23, 2019 9:00am
Quoting directxxx
DXY is already in 'fake it til you make it' territory. Reversal anyone?
GU weakness primarily comes from EG. Here is EG on daily, licking the EMA26. Waiting soon to see 8915ish which will be positive for GU upmove. From there easily might fall to 87 which will send GU much higher.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.png Size: 19 KB
  • #486,397
  • Jul 23, 2019 9:01am Jul 23, 2019 9:01am
Quoting asgcorp
Not many traders paid attention when I've posted this DXY setup last week. Too bad. Ignorance is a bliss. Going forward, EU and GU will diverge, therefore best low risk play right now is short EU and long GU, alternatively just short EURGBP and print stacks. PS: obviously EU will bounce off the floor near 1100//1120. Wait and short sell the bounce. {image} {image}
You are very right, the best set up this week it`s EUR/GBP short. I watch this pair for few weeks now. Last week hit 0.90464 monthly resistance level . Very soon will be a great short entry.
  • #486,398
  • Jul 23, 2019 9:10am Jul 23, 2019 9:10am
Quoting birdland
prepare for a wild upswing in the next two hours...
I'm ready
  • #486,399
  • Jul 23, 2019 9:10am Jul 23, 2019 9:10am
Quoting blackjacker
{quote} GU weakness primarily comes from EG. Here is EG on daily, licking the EMA26. Waiting soon to see 8915ish which will be positive for GU upmove. From there easily might fall to 87 which will send GU much higher. {image}
Talking about EG there is also a great angle on weekly.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.png Size: 87 KB
  • #486,400
  • Jul 23, 2019 9:12am Jul 23, 2019 9:12am
Quoting Theoak
{quote} Lost your account on one trade! You mean you lost the trade?
hi theok wahts ur sl on ur trade on gbpusd??
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