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Cable Update (GBPUSD)

  • #511,001
  • Feb 6, 2020 11:16am Feb 6, 2020 11:16am
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  • #511,002
  • Feb 6, 2020 11:20am Feb 6, 2020 11:20am
Quoting fontu
checking usd , target it already got as 98.30 , and still next likely test 98.49 + may to halt! {image} {image}
fontu, the first target of Gartley pattern reached and all depends on tomorrow's NFP data...yeah, I know that GU is weighted only at 12% in DX...
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Always trade your own plan...I don't provide trading signals.
  • #511,003
  • Feb 6, 2020 11:22am Feb 6, 2020 11:22am
I see everybody is short biased now...so keeping my long. Expecting a dollar drop after tomorrow's news.
Everyone can see the chart, but only a few can actually read it.
  • #511,004
  • Feb 6, 2020 11:30am Feb 6, 2020 11:30am
Long to the low of last week
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yes yes yes
  • #511,005
  • Feb 6, 2020 11:32am Feb 6, 2020 11:32am
Quoting Moty
When dx reach ressistence i will be long at gu {image}
Dxy looks like euro

From what i see gu has nothing to do with it
COT: The precious data ignored
  • #511,006
  • Feb 6, 2020 11:40am Feb 6, 2020 11:40am
Quoting Coreg2004
{quote} Bones, I agree...I'm posting this chart like forever, but this is 3rd touch of the TL and tomorrow is a fun day (NFP) {image} {image}
Yes, NFP tomorrow and the dummy run, the ADP, posted brilliant numbers yesterday.
Gone to a better place
  • #511,007
  • Feb 6, 2020 11:41am Feb 6, 2020 11:41am
Quoting kuroro001
{quote} Dxy looks like euro From what i see gu has nothing to do with it
GU is mostly only correlated with DXY during the US session, as that is dollar driven. And tomorrow the biggest event are the US news...so if dollar drops, both EU and GU will go up.
Everyone can see the chart, but only a few can actually read it.
  • #511,008
  • Feb 6, 2020 11:56am Feb 6, 2020 11:56am
Quoting kuroro001
{quote} Dxy looks like euro From what i see gu has nothing to do with it
o.k so you taking short now ?
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yes yes yes
  • #511,009
  • Feb 6, 2020 12:44pm Feb 6, 2020 12:44pm
Quoting OnlineAddict
I see everybody is short biased now...so keeping my long. Expecting a dollar drop after tomorrow's news.
Maybe here, but not true as retail traders sentiment. Check websites like FXSSI or FXBlue. Retail traders are long GBPUSD, indicating more down side

Also, I’ve seen that the sentiment index changes so quickly with sudden moves. So I prefer to just trade my charts rather than let the sentiment index dictates my trades. I got the down move I wanted. The price is sitting on another major support level at 1.29. Who knows what happens next. But long term chart shows more down side risk
  • #511,010
  • Feb 6, 2020 1:09pm Feb 6, 2020 1:09pm
Quoting shahab8b
But long term chart shows more down side risk
I am making a plan for next day, not next month.
Everyone can see the chart, but only a few can actually read it.
  • #511,011
  • Feb 6, 2020 1:09pm Feb 6, 2020 1:09pm
Quoting OnlineAddict
{quote} GU is mostly only correlated with DXY during the US session, as that is dollar driven. And tomorrow the biggest event are the US news...so if dollar drops, both EU and GU will go up.
Hard to tell the direction tomorrow...any rises? good i'll short it again i guess.

Or i'll wait for the new COT report tomorrow evening and reevaluate things for the next week
COT: The precious data ignored
  • #511,012
  • Feb 6, 2020 1:10pm Feb 6, 2020 1:10pm
Quoting Moty
{quote} o.k so you taking short now ? {image} {image}
Short GU at support? no
Short dollar now? no as well

I'd prefer buying jpy for now
COT: The precious data ignored
  • #511,013
  • Feb 6, 2020 1:10pm Feb 6, 2020 1:10pm
lovely charts, as usual, my friend
Quoting Coreg2004
{quote} Bones, I agree...I'm posting this chart like forever, but this is 3rd touch of the TL and tomorrow is a fun day (NFP) {image} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #511,014
  • Feb 6, 2020 1:16pm Feb 6, 2020 1:16pm
it won't hold , its a pivotal space but the one it just broke is stronger, read the weekly now for bias

Quoting MamounDeb
{quote} the strong support region on your chart is holding since 20 of October 2019. I don't know what makes you think it's week. It was resistance until 19th of December than became strong support. As I said we are in a ranging market for cable so we should play with S and R instead of selling drops and buying rallies. It's a good chart though. Edit: This Support held 7 times on daily already. and only broke once and it was for the bulls .
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #511,015
  • Feb 6, 2020 1:45pm Feb 6, 2020 1:45pm
the actual major tight pivot is above ,not there ,its about 12970 with give and take zone ,but we also have the tl break ,bearish all tf situ, bullish candle's failure in this move
Also check coreg specialist in wave I've yet to see wrong


Quoting MamounDeb
{quote} the strong support region on your chart is holding since 20 of October 2019. I don't know what makes you think it's week. It was resistance until 19th of December than became strong support. As I said we are in a ranging market for cable so we should play with S and R instead of selling drops and buying rallies. It's a good chart though. Edit: This Support held 7 times on daily already. and only broke once and it was for the bulls .
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #511,016
  • Feb 6, 2020 2:08pm Feb 6, 2020 2:08pm
Attached Image (click to enlarge)
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yes yes yes
  • #511,017
  • Feb 6, 2020 4:19pm Feb 6, 2020 4:19pm
Today's daily close has broken another short term trendline. More downside coming...
Attached Image (click to enlarge)
Click to Enlarge Name: Vikinsa GBPUSD Short Trade Mid Week Feb 06 2020 Update Broken Trend Line Short Brexit-2.png Size: 86 KB
Technical Analyst & Trader @ Vikinsa
  • #511,018
  • Feb 6, 2020 6:48pm Feb 6, 2020 6:48pm
it sould be ranging day, 2950 and above . 2900 is likely support in NY session.
Intraday only.
  • #511,019
  • Edited 10:22pm Feb 6, 2020 8:38pm | Edited 10:22pm
test long GU - follow take own risk.
*price not yet go above resistance level 142.333
closed -7
Exits == most important part of your strategy
  • #511,020
  • Feb 6, 2020 8:55pm Feb 6, 2020 8:55pm
Quoting navk
it sould be ranging day, 2950 and above . 2900 is likely support in NY session.
sorry, it is bullish candle day. stop 2920
Intraday only.
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