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Cable Update (GBPUSD)

  • #506,541
  • Dec 17, 2019 3:17am Dec 17, 2019 3:17am
Quoting kuroro001
{quote} If bloomberg said it, we may never reach it
At least it's not as bad as 1.7XX as some of our friends who left this Forum predicted...
Charts don't drive price, market conditions drive price...
  • #506,542
  • Dec 17, 2019 3:17am Dec 17, 2019 3:17am
Quoting kuroro001
We retraced all Brexit vote.... Daily could bring prices back to 1.27xx area...if around here or below i'll long for monthly 1.50/1.55 with a tracker to prevent me from paying stupid swaps for months
I noticed the spike came with trade news not any brexit vote , as election timing near end or started count it continued down, , even the result did not move a pip up!
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #506,543
  • Dec 17, 2019 3:24am Dec 17, 2019 3:24am
Quoting Guztro
{quote} At least it's not as bad as 1.7XX as some of our friends who left this Forum predicted...
Depends what is their timeframe of trading, if it's in 10 years why not
COT: The precious data ignored
  • #506,544
  • Dec 17, 2019 3:25am Dec 17, 2019 3:25am
Quoting fontu
{quote} I noticed the spike came with trade news not any brexit vote , as election timing near end or started count it continued down, , even the result did not move a pip up!
And now we rejected inside the 1.32/1.3240 daily area...another test of 1,3160? llets see

GBP is very interesting lately
COT: The precious data ignored
  • #506,545
  • Dec 17, 2019 3:35am Dec 17, 2019 3:35am
yes 3150 must hold for 3225 or 3250
Intraday only.
  • #506,546
  • Dec 17, 2019 3:47am Dec 17, 2019 3:47am
Quoting kuroro001
{quote} And now we rejected inside the 1.32/1.3240 daily area...another test of 1,3160? llets see GBP is very interesting lately
1.3160 restested. Break of 1.3150 now would lead to 1.312x area.

Else back to 1.3200.

Still short bias for now
COT: The precious data ignored
  • #506,547
  • Dec 17, 2019 3:49am Dec 17, 2019 3:49am
Quoting kuroro001
{quote} 1.3160 restested. Break of 1.3150 now would lead to 1.312x area. Else back to 1.3200. Still short bias for now
Waiting to sell it at 1.32 again hopefully
Fingers crossed
  • #506,548
  • Dec 17, 2019 3:49am Dec 17, 2019 3:49am
Quoting Tekin
{quote} My Target is highlighted but waiting to touch h1 or m15 ma kiss then i will try sell lets see what will happen {image}
10 minutes to close h4 candle and its fighting to h4 moving average already at fibo161 level next station is 1.3408 or 1.3115 who knows? ( time of course)
Attached Image (click to enlarge)
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  • #506,549
  • Dec 17, 2019 3:52am Dec 17, 2019 3:52am
Quoting Coreg2004
{quote} Bones, I don't have higher levels for this run without retracement... {image}
...
Attached Image (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #506,550
  • Dec 17, 2019 3:59am Dec 17, 2019 3:59am
In any case, I reckon this could spark a bit more selling in the pound towards 1.3300 but I would still view this as an opportunity to scale in on the dip - even more so if price threatens to challenge the key hourly moving averages.
  • #506,551
  • Dec 17, 2019 4:04am Dec 17, 2019 4:04am
Quoting Coreg2004
{quote} ... {image}
I like the chart but that would be some move. Not saying it's not possible.
  • #506,552
  • Dec 17, 2019 4:08am Dec 17, 2019 4:08am
Still in an uptrend. Easy buy area. Buy the dip in an uptrend and this has been a very nice dip.
  • #506,553
  • Dec 17, 2019 4:13am Dec 17, 2019 4:13am
Quoting avpcap
{quote} I like the chart but that would be some move. Not saying it's not possible.
avpcap, just the pattern (EW)...how it unfolds? I don't know, we see in the future. Termination of the correction can happen in 2 places...1) around W:4 or around W:1 of lesser degree.
Attached Image (click to enlarge)
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Attached Image
Always trade your own plan...I don't provide trading signals.
  • #506,554
  • Dec 17, 2019 4:15am Dec 17, 2019 4:15am
Quoting HumzahJ
{quote} Waiting to sell it at 1.32 again hopefully Fingers crossed
With divergence down below and twice 1.3160 hit, i may wait higher to short again

But good luck mate, hope you are right

PS : 1.32/1.3210 m5 res, better if go back below 1.3200
COT: The precious data ignored
  • #506,555
  • Dec 17, 2019 4:17am Dec 17, 2019 4:17am
Quoting Tekin
{quote} 10 minutes to close h4 candle and its fighting to h4 moving average already at fibo161 level next station is 1.3408 or 1.3115 who knows? ( time of course) {image}

within this 4 hours everything is possible but now yes h4 couldnt close above h4 ma but fibo 161 (1.316)4 is supporting and its possible fly like ikarus. i closed buys and only 0.01 lot buy is working. 1.3170 i will buy again with 1.3140 stop. maybe it will be boring times take care
  • #506,556
  • Dec 17, 2019 4:23am Dec 17, 2019 4:23am
Attached Image (click to enlarge)
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yes yes yes
  • #506,557
  • Dec 17, 2019 4:36am Dec 17, 2019 4:36am
For the mid/long term trader, i would be cautious to long, as asset managers are the most bullish here for the past 10 years....probably due to the nice outcome of the vote.

The rise was overcrowded with longs, hence its falling now
COT: The precious data ignored
  • #506,558
  • Dec 17, 2019 5:27am Dec 17, 2019 5:27am
Wow , i can happily announce that i had recovered all the loses from last week at the election's day
Classis buy at roumers and sell at news move
Attached Image(s) (click to enlarge)
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yes yes yes
  • #506,559
  • Dec 17, 2019 5:40am Dec 17, 2019 5:40am
Quoting Guztro
{quote} Man, that’s harsh, the big boys just know how to play it. That move during Asian session was crazy. As an aside, I’m always careful for when Trump tweets, but now I have to keep an eye on Boris Johnson too, there are articles suggesting he wants to make law amendments that will in effect force the UK out by end December 2020, deal or no deal. Still, I can’t say if that news dropping caused that move. Trade safe. Guz
Yeah I know, was pretty aggressive, after session change over... I saw the move and was like...not missing this one! lol. Normally GU is quite during a good chunk of Asian.... didn't expect it to move further before London open though. Pegged it around 3200-3220 for support...

I think this move is going to take out the longer term position traders, we see another bull run come wed/thursday. move was too sharp... unless something has drastically changed from a fundamentals point of view.

I wouldn't be surprised if price consolidates for the rest of the day, then returns back to today's high later this week.. just a guess, nothing in stone.
  • #506,560
  • Dec 17, 2019 6:14am Dec 17, 2019 6:14am
now the selling really gets on the way:

SELL 3197
SELL Pending 3184
SELL Pending 3175
in wondering about yourself, you forgot what you came here to be part of
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