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Cable Update (GBPUSD)

  • #511,081
  • Feb 7, 2020 4:41am Feb 7, 2020 4:41am
Quoting Nvrmd
if anyone cares for gbpaud, there is a perfect h&s pattern building on the 4h, right shoulder is about to hit the r3 , could potentially be a sign for gbp weakness

Looks interesting but H&S is stretching the imagination a bit, personally i would not base a gbpusd decision on what the GBPAUS is doing, cable has been consolidating for however long now, and gbpaud trending up so no real corrolation there.
Follow The Markets Structure - Patience and Discipline
  • #511,082
  • Feb 7, 2020 4:48am Feb 7, 2020 4:48am
people are afraid to trade because of nfp. so no real direction at the moments. but i ll hammer the nfp with great precision. closed my trade in small profits
99.9% persistence
  • #511,083
  • Feb 7, 2020 4:49am Feb 7, 2020 4:49am
Quoting pipfarm
{quote} Looks interesting but H&S is stretching the imagination a bit, personally i would not base a gbpusd decision on what the GBPAUS is doing, cable has been consolidating for however long now, and gbpaud trending up so no real corrolation there.
i think the uptrend in gbpaud is over with last weeks close and we could see a longer downtrend. In general I am bearish on most gbp pairs for the next few weeks and many times gbp is the driver, mostly due to fundamentals. You often see gbp either the weakest or strongest currency and huge movements across the board. Let´s see if we can finally break the bottom.
  • #511,084
  • Feb 7, 2020 4:53am Feb 7, 2020 4:53am
I'm carefull with sell until I see a clear break and retest of the demand zone, we just might shoot up today catching all sellers on the wrong side.
Attached Image (click to enlarge)
Click to Enlarge Name: GU5.png Size: 18 KB
  • #511,085
  • Feb 7, 2020 5:00am Feb 7, 2020 5:00am
Quoting navk
if 2947 fail to clear, another good drop below 2890 can be expected today
trade what you see and not what you expect
99.9% persistence
  • #511,086
  • Feb 7, 2020 5:20am Feb 7, 2020 5:20am
Quoting mtruefx
I'm carefull with sell until I see a clear break and retest of the demand zone, we just might shoot up today catching all sellers on the wrong side. {image}
I agree with You. I closed all my orders in profit today because of NFP. My longer term targets still remains 1.27-1.25 areas, but I do not want to risk today. SO the best choice wait for the break and retest and sell again, or take the expectation to retrace to better price and reenter more sell next week. Your chart clearly shows 50/50 gambling which side can choose the pair. Thanks.
  • #511,087
  • Feb 7, 2020 5:23am Feb 7, 2020 5:23am
Quoting DeivzasLT
{quote} I agree with You. I closed all my orders in profit today because of NFP. My longer term targets still remains 1.27-1.25 areas, but I do not want to risk today. SO the best choice wait for the break and retest and sell again, or take the expectation to retrace to better price and reenter more sell next week. Your chart clearly shows 50/50 gambling which side can choose the pair. Thanks.
From my experience h1 channel low 1.28850 we visit today or later.
  • #511,088
  • Feb 7, 2020 5:28am Feb 7, 2020 5:28am
Are you ready for the rangebound ?
Attached Image (click to enlarge)
Click to Enlarge Name: New Doc 2020-02-09 13.27.02_1.jpg Size: 121 KB

Looks like the dx showing weakness
Attached Image (click to enlarge)
Click to Enlarge Name: New Doc 2020-02-09 13.30.58_1.jpg Size: 119 KB
yes yes yes
  • #511,089
  • Feb 7, 2020 5:32am Feb 7, 2020 5:32am
It's time to close positions before NFP. I'll sell the rallies.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-5M15 272020.png Size: 52 KB
  • #511,090
  • Feb 7, 2020 5:34am Feb 7, 2020 5:34am
closed my shorts too. will trade the break out today
Intraday only.
  • #511,091
  • Feb 7, 2020 5:52am Feb 7, 2020 5:52am
Quoting navk
Buy Trades – EUR/GBP, XAU/USD Sell Trades – GBP/USD, GBP/JPY, NZD/USD, NZD/CAD, AUD/USD, GBP/CHF, AUD/CAD, GBP/CAD This is based on yesterday strenth and weakness.
what time of day do you check that? it changes a lot during day. I found it working well on Mondays but not other days. Do you have any trade plan you follow?
  • #511,092
  • Feb 7, 2020 5:53am Feb 7, 2020 5:53am
Quoting shahab8b
{quote} what time of day do you check that? it changes a lot during day. I found it working well on Mondays but not other days. Do you have any trade plan you follow?
I take this as basis
Intraday only.
  • #511,093
  • Feb 7, 2020 6:53am Feb 7, 2020 6:53am
bulls are now making money.. as said
99.9% persistence
  • #511,094
  • Feb 7, 2020 6:54am Feb 7, 2020 6:54am
Quoting Moty
Are you ready for the rangebound ? {image} Looks like the dx showing weakness{image}
Moty you will close your UG long at 945?
  • #511,095
  • Feb 7, 2020 6:59am Feb 7, 2020 6:59am
Quoting Tekin
Very confusing day no important data and its sitting on a support {image}
30 minutes to NFP which red line will be on hand 1.2837 or spike up? i dont have trade at gbpusd now i have gold sell but gold is forcing resistance and gbpusd is taking support. critical times
  • #511,096
  • Feb 7, 2020 7:00am Feb 7, 2020 7:00am
Quoting doniyor81
{quote} Moty you will close your UG long at 945?
no , i will take profit at 1.3000
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU1.png Size: 35 KB
Click to Enlarge Name: dx.png Size: 39 KB
Click to Enlarge Name: EG.png Size: 44 KB
yes yes yes
  • #511,097
  • Feb 7, 2020 7:14am Feb 7, 2020 7:14am
Quoting pipfarm
{quote} Update to my plan, Hold the short from yesterday with s/l above 2947 , add a buy stop above the 2947 high @2962.

Update again my trade plan,

the short trade stop was taken out for +27 so now , i have the buy stop at 2962 (s/l below 2021 low) for target around the 3070 high and i will place a sell stop below the low at 2919 with target open
Follow The Markets Structure - Patience and Discipline
  • #511,098
  • Feb 7, 2020 7:20am Feb 7, 2020 7:20am
Expecting spike to 1.2975, and after it, huge sell. We will see in 10 minutes
  • #511,099
  • Feb 7, 2020 7:26am Feb 7, 2020 7:26am
nfp we wait
99.9% persistence
  • #511,100
  • Feb 7, 2020 7:33am Feb 7, 2020 7:33am
Quoting zuluremys
i think its going down

you mist be kidding me that you first write go up, then you go in and edit your post 2min later, after nfp and write go down?? Seriously??
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