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Cable Update (GBPUSD)

  • #494,121
  • Sep 21, 2019 7:48am Sep 21, 2019 7:48am
If that's a continuation pattern, and it could be, whats the monthly to close like
I'm starting with it's not.

Quoting HaLBot
Note, weekly indecision candle with sellers in control.... {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #494,122
  • Sep 21, 2019 7:58am Sep 21, 2019 7:58am
Quoting Bones
If that's a continuation pattern, and it could be, whats the monthly to close like I'm starting with it's not. {quote}
Probably should have added more info,

When I say sellers in control I'm talking short term, thinking Monday be a pullback to the 2400 area, pickup more buyers(as others have stated) b4 another push higher....
Or if some negative brexit news comes out then I see cable dropping 150 pips b4 buyers come in...
Don't Leave Money on the Table
  • #494,123
  • Sep 21, 2019 7:58am Sep 21, 2019 7:58am
Personally
I think the court will rule in the government's favour
I also think with Labour and Lib Dems recent policy changes they have no chance to win an election.
So the conclusion is the conservatives will hold government.
I don't think there's a deal that can pass Parliament
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #494,124
  • Sep 21, 2019 9:54am Sep 21, 2019 9:54am
Quoting Bones
Personally I think the court will rule in the government's favour I also think with Labour and Lib Dems recent policy changes they have no chance to win an election. So the conclusion is the conservatives will hold government. I don't think there's a deal that can pass Parliament
I think the question now is if there will be a breakthrough on the negotiation with EU and if Benn bill will really stops a no deal brexit on 31st Oct.

A breakthrough in negotiation is looking more doubtful if we look at what the Irish foreign minister said as well as the EU reactions to the UK "non-papers" reported on Friday. So unless UK government is willing to concede and accept putting the boarder in the Irish sea instead, I don't think there will be a new deal.

There seems to be ways for Boris Johnson to circumvent the Benn Bill without getting into trouble, so it is not guaranteed that UK will ask for an extension on 19th Oct.

The best way to avoid no deal Brexit to me is for cross party rebels to come together and vote for May's deal on the 4th try, there have been talks about some opposition MPs are willing to rebel and vote for May's deal if it reaches the commons again now that most people think Boris is serious about leaving on 31st Oct without a deal if necessary. I think a lot of MPs will go for this as it is a lesser evil between the two options, opposition MPs can claim that parliament came together and successfully preventing a no deal Brexit, while the government can claim that they delivered Brexit on 31st Oct as promised, everyone can claim a small victory going into the general election post 31st Oct.
  • #494,125
  • Sep 21, 2019 10:10am Sep 21, 2019 10:10am
Quoting b_hand
{quote} hi ... you are talking about wolf waves advanced, it is very difficult but easy if we use the common ones which traders always use. https://youtu.be/vjnXdZNpngI
Thank you b_hand for response and link. For sure this video expends my WW knowledge. Good luck with your trading.
Always trade your own plan...I don't provide trading signals.
  • #494,126
  • Edited 1:33pm Sep 21, 2019 10:27am | Edited 1:33pm
there were good signals to have bull attempt to take minimum price 2782 but unable to close strong weekly resistances but overcome daily one so far . still within channel up in an extension to move further up and last week as doji indecision may top range again and again before failure to get that 2782 . anyway top ranging unrest market spikes rather just submissive tanking so soon. ranging apparently 2232 to 2680 before decision , so market bearish next week . remember monthly bullish , expect next this month close over 2408, not far away . expect bull try now price , next 2437 , 2391 as last signal( bull should not shake at all before it breaks down ) for further down towards 2282 or better 2232 down to UP strong if.Take care
Attached Image(s) (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #494,127
  • Sep 21, 2019 12:46pm Sep 21, 2019 12:46pm
There's a lot of noise on lower TFs and also from the news wires.
Outcome A, Outcome B, Outcome C, this all literally brain ****.

Right now most traders will do good if they just stick with the bull trend, cause it's already
a confirmed bull trend off the lows at 1975.

Very strong/confirmed DB on weekly price chart of GBPUSD.

Going into October the bull run will likely resume until 18-20th of the month.

1.28-1.30 is a great target going into October, just buy any dips next few weeks.

If Brexit gets delayed, or there is a deal at the end of the day, we might hit 1.33-1.35.

On Brexit 2 most likely outcomes (simplified) - Hard Brexit and a big dump from, say 1.33-1.35 until 1.15
and the other outcome is - everyone actually wants a deal, they delay, delay again and again
and this shit drags on for months and then eventually boom, we get a Deal announcement
and GBPUSD rallies and hits 1.45-1.50 sometime in 2020.
Attached Image (click to enlarge)
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  • #494,128
  • Sep 21, 2019 12:56pm Sep 21, 2019 12:56pm
I have to laugh at Mays deal rising from the dead. The deal in its current form is dead. Not my words, but entirely right.
Those people you're talking about are in leave areas and Labour is just about to propose something no leaver would go for.
Labour would be better to propose a fair fight leave and remain if they have to sit on the fence.

Turnout on Labours proposal will sink to all-time lows. That's a problem all by itself.



Quoting Han2019
{quote} I think the question now is if there will be a breakthrough on the negotiation with EU and if Benn bill will really stops a no deal brexit on 31st Oct. A breakthrough in negotiation is looking more doubtful if we look at what the Irish foreign minister said as well as the EU reactions to the UK "non-papers" reported on Friday. So unless UK government is willing to concede and accept putting the boarder in the Irish sea instead, I don't think there will be a new deal. There seems to be ways for Boris Johnson to circumvent the Benn Bill without...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #494,129
  • Sep 21, 2019 1:04pm Sep 21, 2019 1:04pm
Quoting Bones
I have to laugh at Mays deal
There's something odd going on with UK politicians lately.

Inserted Video
  • #494,130
  • Sep 21, 2019 1:09pm Sep 21, 2019 1:09pm
Don't laugh that's her legacy



Quoting asgcorp
{quote} There's something odd going on with UK politicians lately. https://www.youtube.com/watch?v=3ocuhcH6FUc
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #494,131
  • Sep 21, 2019 1:23pm Sep 21, 2019 1:23pm
The question is
How do you overturn a very high turn out referendum without ever carrying it out?
The answer is
You don't.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #494,132
  • Sep 21, 2019 11:21pm Sep 21, 2019 11:21pm
Usdx fight for 98.01 continues for last time perhaps with probable baby camel action in h5 tf for pullback another try, now having doji at top though. Likely correct down for few h5 before the pullback try up. So opposite for others in monday ranging possible. Take care
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #494,133
  • Sep 22, 2019 12:52am Sep 22, 2019 12:52am
Quoting RickM
{quote} There is a lack of Sellers so Liquidity pools are drying up above. The market always seeks a high density of orders and guess where they lie. There are thousands of Buyers with their Stops below recent lows so the market will hunt these Buyer stops very soon. The market won't ignore this density of orders much longer.
Tganks for clarifying Rick. So maybd one should look for opportunities to buy.... Again thanks
  • #494,134
  • Sep 22, 2019 12:58am Sep 22, 2019 12:58am
Quoting asgcorp
{quote} Yeah, sure. Bones got a good point though. Weekly candle combo is signaling a pullback next week. I agree with that, yes, cause monthly range (500 points) is already out, naturally we need to cool down a bit and also pick new buyers from below. Nothing moves in a straight line, especially in FX. What I don't agree is that next weekly candle got to close in bear mode. I see a green candle next week. (reason posted previously - THU/FRI pump).
Ahhhh, it beguns to make sense..... Thanks for clarifying as a new trader it always helps when other traders share their insites
  • #494,135
  • Sep 22, 2019 1:17am Sep 22, 2019 1:17am
Quoting FeliciaM
{quote} Tganks for clarifying Rick. So maybd one should look for opportunities to buy.... Again thanks
I would leave it and see if it drops close too 1.2393 first then see if it has moved close to the ADR(20) day range. Price wants orders so generally takes out yesterdays highs or lows. So I would Buy if it takes out the last trading days low. I would also conside Selling if it takes out the High but only if it spikes hard.

If you have the stomach for it, trade it on M1
Trading thin liquidity at the boundary of the charts
  • #494,136
  • Sep 22, 2019 4:09am Sep 22, 2019 4:09am
According to this 4Hr chart we got some more downside b4 any upside as I posted earlier with another chart, aside from the possible drift lower during asian trading(baring news events) I believe buying will occur around 2400 area...

Attached Image (click to enlarge)
Click to Enlarge Name: GU 4Hr 22 Sept.png Size: 61 KB
Don't Leave Money on the Table
  • #494,137
  • Sep 22, 2019 5:52am Sep 22, 2019 5:52am
Quoting HaLBot
According to this 4Hr chart we got some more downside b4 any upside as I posted earlier with another chart, aside from the possible drift lower during asian trading(baring news events) I believe buying will occur around 2400 area... {image}
Make sense
yes yes yes
  • #494,138
  • Sep 22, 2019 6:46am Sep 22, 2019 6:46am
H4 has fallen, I agree, However D1 is still bullish and daily resistance is yet to form as per my system.

If daily resistance is formed, then, daily resistance + H4 bearish will take the price still down.

I can confirm if daily resistance is formed or not.... wait till market opens.
Attached Image (click to enlarge)
Click to Enlarge Name: MetaTrader 4.png Size: 71 KB
Intraday only.
  • #494,139
  • Sep 22, 2019 7:01am Sep 22, 2019 7:01am
probably Monday, dips are to be bought. From Tuesday on wards, spikes are to be sold.( probability )
Intraday only.
  • #494,140
  • Sep 22, 2019 7:28am Sep 22, 2019 7:28am
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