Patience is not simply the ability to wait - it's how we behave while we're
Cable Update (GBPUSD)
- #516,163
- Apr 12, 2020 3:45pm Apr 12, 2020 3:45pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts | Online Now
Here's my take on the GBPUSD, from the technical perspective of a swing trader.
The GBPUSD market has been under a bearish pressure since the bearish drop from the 1.31900 area six weeks ago. On the daily time frame, price action is consolidating within the 1.21890/1.24970 zone (bound by magenta horizontal lines). Presently, price action is located near the upper boundary of the zone where it printed a doji-like candlestick on Friday, indicating a pause in directional momentum.
On the H4 time frame, price action is located at the upper boundary of the horizontal channel (magenta) seen on the daily time frame. The candlestick prints in the area are relatively small; technically indicating a decline in bullish momentum. Any significant bearish print in the area in the early part of this week will likely encourage bears to go for a southward turnaround. I will be looking for a feasible bearish setup this week.
I may be wrong. Stay safe and trade safe.
KP
The GBPUSD market has been under a bearish pressure since the bearish drop from the 1.31900 area six weeks ago. On the daily time frame, price action is consolidating within the 1.21890/1.24970 zone (bound by magenta horizontal lines). Presently, price action is located near the upper boundary of the zone where it printed a doji-like candlestick on Friday, indicating a pause in directional momentum.
On the H4 time frame, price action is located at the upper boundary of the horizontal channel (magenta) seen on the daily time frame. The candlestick prints in the area are relatively small; technically indicating a decline in bullish momentum. Any significant bearish print in the area in the early part of this week will likely encourage bears to go for a southward turnaround. I will be looking for a feasible bearish setup this week.
I may be wrong. Stay safe and trade safe.
KP
Do your homework, follow the footprints of smart money
- #516,164
- Apr 12, 2020 6:07pm Apr 12, 2020 6:07pm
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #516,165
- Apr 12, 2020 6:09pm Apr 12, 2020 6:09pm
- Joined Dec 2013 | Status: Trader | 1,508 Posts
Be humble or be humbled.
- #516,166
- Apr 12, 2020 6:14pm Apr 12, 2020 6:14pm
- Joined Jul 2009 | Status: The Alchemist | 8,917 Posts
- #516,170
- Apr 12, 2020 10:32pm Apr 12, 2020 10:32pm
- Joined Oct 2010 | Status: Trader | 21,478 Posts
some small money was made in EJ.
For my breakfast, Lunch & Dinner.
For my breakfast, Lunch & Dinner.
Intraday only.
- #516,171
- Edited Apr 13, 2020 12:09am Apr 12, 2020 10:39pm | Edited Apr 13, 2020 12:09am
- Joined Oct 2010 | Status: Trader | 21,478 Posts
{quote} lot of bank are close.. so why not we also close our biz until NY later or tuesday?
You can join with me if you wish, but only for breakfast. I have only 5 $ balance.
( Frankly speaking, I can have buffet meal all three times in the place where I am living currently.
) Intraday only.
- #516,173
- Apr 12, 2020 11:43pm Apr 12, 2020 11:43pm
- Joined Oct 2010 | Status: Trader | 21,478 Posts
Intraday only.
- #516,175
- Apr 13, 2020 12:57am Apr 13, 2020 12:57am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
{quote} I need 5 $ for my breakfast, 20 $ for my lunch and dinner. You can join with me if you wish, but only for breakfast. I have only 5 $ balance.
good for you..
i only enjoy some movies
just for a cup of coffee...
- #516,177
- Apr 13, 2020 1:31am Apr 13, 2020 1:31am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
