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Cable Update (GBPUSD)

  • #505,601
  • Dec 9, 2019 2:27am Dec 9, 2019 2:27am
Short 3170, SL 3182. Exit once the bulls recover.

For me, it is guerilla tactics this week, ie, hit and run.
  • #505,602
  • Dec 9, 2019 2:29am Dec 9, 2019 2:29am
Quoting knkie
just my 2 cents: H1 is making a LH, if it makes a HL price will shoot up.
worked out as expected...
still just my 2 cents:
next H4 bar will probably be down which is necessary for H4 to break upward.
As long as price stays above 3150 zone the bulls are in control.
in wondering about yourself, you forgot what you came here to be part of
  • #505,603
  • Dec 9, 2019 2:40am Dec 9, 2019 2:40am
Quoting tito5615104
may we see this level 1.3175-1.3185? {image}
done here
Attached Image(s) (click to enlarge)
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good luck
  • #505,604
  • Dec 9, 2019 2:43am Dec 9, 2019 2:43am
Pa will depend on the 3176 high, if we see a daily close above here then we can assume price will go towards the 3389 high but not before a retest into the 3176 area maybe as far as 3089.

Other scenario is a no daily close above 3176 then we might see the pa heading back towards 2897 .

In any anycase let price action lead the way, hope and crystal balls and pretty pictures with pointless lines drawn all over the place will not make us money.
Follow The Markets Structure - Patience and Discipline
  • #505,605
  • Dec 9, 2019 2:45am Dec 9, 2019 2:45am
Quoting Bydyke
Short 3170, SL 3182. Exit once the bulls recover. For me, it is guerilla tactics this week, ie, hit and run.

Out at 3150, hope to jump in again on the retrace
  • #505,606
  • Dec 9, 2019 2:50am Dec 9, 2019 2:50am
Quoting knkie
{quote} worked out as expected... still just my 2 cents: next H4 bar will probably be down which is necessary for H4 to break upward. As long as price stays above 3150 zone the bulls are in control.
BUY 3158
M5 frame
in wondering about yourself, you forgot what you came here to be part of
  • #505,607
  • Dec 9, 2019 2:53am Dec 9, 2019 2:53am
still the limit hold for the bull leg up ! watching , if breaks then target limited towards 3171 instead regular there 3192 now & short there for correction down , bo 3142 towards 3099 bottom next
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #505,608
  • Dec 9, 2019 3:07am Dec 9, 2019 3:07am
The drop is around the corner
Attached Image (click to enlarge)
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yes yes yes
  • #505,609
  • Dec 9, 2019 3:28am Dec 9, 2019 3:28am
Quoting Moty
The drop is around the corner {image}

The direction of the GBP/USD this week and next will be determined by one event, the result of Thursday's general election.

Johnson is currently ahead here by 10 points in the opinion polls, which if it happens would give him a majority to vote through the Brexit deal.

The result will be known around 2am on Friday morning.

Positioning short in the run up to the election is a big gamble.
Nil desperandum
  • #505,610
  • Edited 3:59am Dec 9, 2019 3:37am | Edited 3:59am
m30 M15 frame
40 pip target
Attached Image
in wondering about yourself, you forgot what you came here to be part of
  • #505,611
  • Dec 9, 2019 3:55am Dec 9, 2019 3:55am
Quoting knkie
m30 frame 40 pip target {image}
Looks like 15 minute time frame?
Don't Leave Money on the Table
  • #505,612
  • Dec 9, 2019 3:58am Dec 9, 2019 3:58am
Quoting HaLBot
{quote} Looks like 15 minute time frame?
oh apologies, you are correct M15.
in wondering about yourself, you forgot what you came here to be part of
  • #505,613
  • Edited 4:27am Dec 9, 2019 4:16am | Edited 4:27am
Checking the morning pa eurusd and gbousd , ok Monday ranging so far!
Usdx not corrected properly and so up and down more there now also, indecision and wasting time before burst!
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #505,614
  • Dec 9, 2019 4:22am Dec 9, 2019 4:22am
Attached Image (click to enlarge)
Click to Enlarge Name: New Doc 2019-12-09 12.14.30_1.jpg Size: 100 KB
yes yes yes
  • #505,615
  • Dec 9, 2019 4:39am Dec 9, 2019 4:39am
Quoting Moty
{image}
Hi, Moty

I don't trade using indicators, but as I can see every indicator on your chart except Fibonacci (but we can extend it on uptrend wave and it also will become bullish) showing an up move, but your forecast is for down move, why is that?
  • #505,616
  • Dec 9, 2019 4:40am Dec 9, 2019 4:40am
Quoting knkie
m30 M15 frame 40 pip target {image}
adding a buy 3168
same target 3198
in wondering about yourself, you forgot what you came here to be part of
  • #505,617
  • Dec 9, 2019 4:41am Dec 9, 2019 4:41am
Quoting PandaTradeFx
{quote} Hi, Moty I don't trade using indicators, but as I can see every indicator on your chart except Fibonacci (but we can extend it on uptrend wave and it also will become bullish) showing an up move, but your forecast is for down move, why is that?
"Hope Arrows"
in wondering about yourself, you forgot what you came here to be part of
  • #505,618
  • Edited 4:58am Dec 9, 2019 4:42am | Edited 4:58am
Quoting Fader123
Looking ahead over the weeks ahead-I can see price targeting into 1.3750 ish This week obviously, there is a general election coming up. But the Tories will win this, plus there is a small matter of the US cash rate meeting and of course Trump's decision over tarriffs This is the most important thing in the markets. So this week you would expect to see more of a risk off bias on Cable - its an election. And the strong NFP figures on Friday will give extra strength into the dollar. I would also expect Powell to still be neutral positive. For me its...
Got some shorts into the rally this morning.
The thing is the market is really concerned about is Trump - and his tariffs
This is putting pressure on the dollar and pushing up the Euro (especially in light of the decent figures this morning), which obviously has an effect on the pound.
Nothing like clear sentiment is there.
The other thing is that every bank on the planet is bullish on Cable
  • #505,619
  • Dec 9, 2019 4:53am Dec 9, 2019 4:53am
Quoting knkie
{quote} "Hope Arrows"
Lol....
  • #505,620
  • Dec 9, 2019 5:14am Dec 9, 2019 5:14am
One would think that the whole "predictable elections outcome of a Conservative majority" has been well and truly priced in. Consequently, the expectation of a bullish exhaustion, perhaps even caution, at current price levels simply cannot be ruled out. Chances of a significant pullback hence are heightened.

1.3170-80 should serve as a tough resistance from the start of this week.

We go SHORT from here...
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