Cable Update (GBPUSD)

Quoting hans91

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{quote} well, so if let say bad news happen with no deal brexit, is still possible if we're going to see 1.20 again while PA is very bullish right now? so far i do think that at monthly TF, double bottom pattern could push the price up to 1.3 as minimum target, but with uncertainty of brexit, it could mess up anything.

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Quoting malcolmb14

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{quote} Of course . But if bad news we will see it on the charts before it happens . News and deals are known by smart money prior to release on main stream media . Take china trade deal as a prime example .. trump no no no I will never accept an interim deal .. yet dow screaming up 1000 points in three days and then hey presto deal is done Coincidence ? Mmmm . I have seen it many many times where news is used to manipulate price . I actually trade using volume spread analysis and if you know what to look for you can see professional money...

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Quoting okosodo

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{quote}Correctly stated, chart is bae. I do not listen to the news except when some unusual set ups start to blur my vision, then i will turn a fundamental apostle

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Quoting hans91

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{quote} sorry @malcomb14, please ignore this, as you have posted the previous.late to read. But thanks heaps for the explanation, i know you must be a very great trader with uncommon analysis.

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Quoting malcolmb14

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{quote} I ignore news only mark when the known news is coming on charts so I can either be sidelined or protect my positions . Everything we need to see is on the charts

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Quoting malcolmb14

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{quote} The way I look it ... is brexit really an uncertainty ? That break out bar cost someone a few trillion .... not a scalping position Perse . anything is possible in this market ... but my bet is some sort of deal is done . The sticking point is only Irish border and really how much influenced does that have on the U.K. Economy ? They will come to some sort of resolution

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Quoting malcolmb14

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This chart may show the future ... if Brexit news good gold would drop to 1450 right ? 1 . Wide spread up bar based on poor retail news .. note it could not break 1490 and gold only did half its days range... so to me that's bearish 2. We see in Asia a test of the high of the wide spread up bar .. it was an UP bar but volume was ULTRA high. Smart money sell on up bars and buy on down bars 3. Next bar is down meaning that at 2 we saw sellers I will be looking for lower price in gold today as long as that 1490 holds as it seems weakness is there {image}...

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Quoting hans91

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{quote} my thought is the resolution has never been tested yet so, there will be opposite view from EU and then British parliament. and we often meet this when read news from any other sources. also it has been 3 years happened since 2016 and never got the right solution to solve the brexit issue.

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Quoting asgcorp

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Hey guys today I present you my contrarian analysis of gbpusd based on massive daily bear structure in gbpnzd. what does that mean? well, there's still huge upside in gbpusd (which is in-line with ew i've posted previously). however, it looks like we will get some sort of extension for oct31 deadline and then things go horribly wrong. later nov-dec 2019, it's possible we get a huge move from gbpusd 1.3200-1.3400 back to 1.1000 (2400 pips dump). https://www.tradingview.com/chart/GB...1-3400-1-1000/...

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