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Cable Update (GBPUSD)

  • #501,621
  • Oct 29, 2019 2:01pm Oct 29, 2019 2:01pm
A gentle reminder. A bunch of red items incoming pretty much every day until end of week.
FOMC on Wednesday. This will produce some wicked moves in GBPUSD.
No need to force setups though. Both bulls and bears can make money next few days.
  • #501,622
  • Oct 29, 2019 2:07pm Oct 29, 2019 2:07pm
enough fuel left for another epic squeeze.
but granted. those bear cubs won't give up without putting up a fight.
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  • #501,623
  • Oct 29, 2019 2:11pm Oct 29, 2019 2:11pm
Quoting asgcorp
enough fuel left for another epic squeeze. but granted. those bear cubs won't give up without putting up a fight. {image} {image}
ah so cute
now i feel guilty about going long lol

BUY 2862

this is on M1 frame.
trailing HLs
in wondering about yourself, you forgot what you came here to be part of
  • #501,624
  • Oct 29, 2019 2:16pm Oct 29, 2019 2:16pm
If election date is set its bullish ,imo
because that opens up a potential change on Brexit and
unlocks the impasse
I can only assume Boris would come to the country with his deal, then every other party is a softer position apart from the Brexit party.

The weekly can fail outright to the upside easy

Quoting AmirRS
The vote will pass as Corbyn has agreed to the election. This should push this pair up?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #501,625
  • Oct 29, 2019 2:22pm Oct 29, 2019 2:22pm
election is rather bearish imo. no deal brexit is ruled out but if labour gains any movement in the polls it will be negative for the pound.. nobody knows how strong labour will get hence its hard to put a bullish/bearish on elections tho.
  • #501,626
  • Oct 29, 2019 2:23pm Oct 29, 2019 2:23pm
Waiting for a short tomorrow...setup looks good. A move above 2900 would be ideal first. The higher the better, before FED.
Everyone can see the chart, but only a few can actually read it.
  • #501,627
  • Oct 29, 2019 2:26pm Oct 29, 2019 2:26pm
Quoting asgcorp
GBPUSD update on daily price chart. It's possible that Wave3 completed at 3000. But it's not the end of the bull run. Final target is 3250. I'd focus on buying dips, only print <2620 will void this setup for bulls now. Good luck, traders! ps: https://www.tradingview.com/chart/GB...S-AFTER-WAVE4/ here's a permanent link on Tradingview so that no one accuses me of deleting/adjusting my outlook. {image}
On HTF my view is unchanged. Accumulation in progress. Bulls have a valid target @ 3150-3250 later in Q4 (probably November).
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  • #501,628
  • Oct 29, 2019 2:29pm Oct 29, 2019 2:29pm
Quoting Moty
simple pa says that we are currently in uptrend {image}
Moty, I will play devil's advocate...you know everything that is on my chart.
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Always trade your own plan...I don't provide trading signals.
  • #501,629
  • Oct 29, 2019 2:36pm Oct 29, 2019 2:36pm
Labour's in trouble= Corbyn will be gone after the election
Labour hold a murky remain position ,but a huge swathe of Labour voters are strong leave
Quoting Bagge
election is rather bearish imo. no deal brexit is ruled out but if labour gains any movement in the polls it will be negative for the pound.. nobody knows how strong labour will get hence its hard to put a bullish/bearish on elections tho.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #501,630
  • Oct 29, 2019 2:39pm Oct 29, 2019 2:39pm
I think GBPUSD can go down this week to 1.2705. We have a some support zone there and the upmoves from last days can normaly create some retracements.
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  • #501,631
  • Oct 29, 2019 3:04pm Oct 29, 2019 3:04pm
Quoting Moty
simple pa says that we are currently in uptrend {image}
...
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Always trade your own plan...I don't provide trading signals.
  • #501,632
  • Oct 29, 2019 3:04pm Oct 29, 2019 3:04pm
Quoting FXTradings
I think GBPUSD can go down this week to 1.2705. We have a some support zone there and the upmoves from last days can normaly create some retracements. {image} {image}
it's possible, yes, but if you scroll back your H4 chart Oct/Sept, how many tall tower bear candles you got on the chart?
I only see a few. So bulls still own this space.
  • #501,633
  • Oct 29, 2019 3:10pm Oct 29, 2019 3:10pm
Quoting knkie
{quote}BUY 2862 this is on M1 frame. trailing HLs
adding a buy pending 2865
up one frame were on M5 now

edit: i think if M30 closes above 2865 this could be a big move.
in wondering about yourself, you forgot what you came here to be part of
  • #501,634
  • Oct 29, 2019 3:19pm Oct 29, 2019 3:19pm
Quoting asgcorp
{quote} it's possible, yes, but if you scroll back your H4 chart Oct/Sept, how many tall tower bear candles you got on the chart? I only see a few. So bulls still own this space.
Maybe we are in a uptrend, i dont know what will happen in next weeks or months, i was just thinking to share my idea for this week, or in other words for next days. Of course everythink is always possible, as we all know. Good luck
  • #501,635
  • Oct 29, 2019 3:32pm Oct 29, 2019 3:32pm
Quoting knkie
{quote} if M30 closes above 2865 this could be a big move.
wow
2864
ha now whwat
in wondering about yourself, you forgot what you came here to be part of
  • #501,636
  • Oct 29, 2019 3:38pm Oct 29, 2019 3:38pm
1.28648... a whisker away! Time to log off and enjoy a cold beverage.
  • #501,637
  • Oct 29, 2019 3:45pm Oct 29, 2019 3:45pm
unchanged for the day, yes.

My take on Wednesday trading: FOMC/EU data will have very limited impact on GBPUSD.
GU unlikely to produce strong moves before Thursday.
Not to say that it won't move at all.
But main move (weekly range draw) likely reserved for Thu/Fri.
  • #501,638
  • Oct 29, 2019 3:45pm Oct 29, 2019 3:45pm
Quoting avpcap
1.28648... a whisker away! Time to log off and enjoy a cold beverage.
i know right
so close and yet

it will jump
in wondering about yourself, you forgot what you came here to be part of
  • #501,639
  • Oct 29, 2019 3:47pm Oct 29, 2019 3:47pm
Quoting knkie
{quote} i know right so close and yet it will jump
And it did!
  • #501,640
  • Oct 29, 2019 3:51pm Oct 29, 2019 3:51pm
Quoting avpcap
{quote} And it did!
hah
yeah but rejected as well on m5
it may be done for today

im gonna break even here
in wondering about yourself, you forgot what you came here to be part of
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