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Cable Update (GBPUSD)

  • #517,801
  • Apr 26, 2020 12:24pm Apr 26, 2020 12:24pm
Quoting corongumet
{quote} yes it is like that. I have tried trading using long term, it made my head dizzy last week. by feeling some losses, and maybe going to cut back with losses, I will see Monday and Tuesday as prices go where? there will decide to cut or hold
That huge engulfing weekly candle after the 30+ year low is significant though.
  • #517,802
  • Apr 26, 2020 12:50pm Apr 26, 2020 12:50pm
Quoting corongumet
{quote} yes it is like that. I have tried trading using long term, it made my head dizzy last week. by feeling some losses, and maybe going to cut back with losses, I will see Monday and Tuesday as prices go where? there will decide to cut or hold
Cut your losses if you are short, cable heading 1.27x this week. No more lows for cable below 1.22
  • #517,803
  • Apr 26, 2020 12:54pm Apr 26, 2020 12:54pm
Quoting mkvy
{quote} That huge engulfing weekly candle after the 30+ year low is significant though.
what do you mean? market going to short or bounce to long..
  • #517,804
  • Apr 26, 2020 12:58pm Apr 26, 2020 12:58pm
Quoting corongumet
{quote} what do you mean? market going to short or bounce to long..
Double edged sword lol live market is up 20 pips on Friday close at 2383 don’t know if it will make any difference when the market opens
  • #517,805
  • Apr 26, 2020 1:12pm Apr 26, 2020 1:12pm
Quoting elbert3
{quote} Double edged sword lol live market is up 20 pips on Friday close at 2383 don’t know if it will make any difference when the market opens
I am trying to open a position for weekly trading, because I am going to do a thesis exam and I have to prepare it. but after seeing the existing market conditions it made me dizzy and had to re-form the strategy

I saw the volume drop. price going to drop at weekly. lets see
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  • #517,806
  • Apr 26, 2020 1:14pm Apr 26, 2020 1:14pm
Quoting BaxiDevOps
{quote} Hi bro, could you share the link to see this info please?? otherwise let me explain me to see if i get it on the correct way.. on this week the expectations by the big sharks on the market are: CHF: Short, GBP: Long and JPY: Short expectations??? if i am right, i would like to see EUR and USD COT's could you share the link to see this info please??
https://cotunchained.com/
https://www.cftc.gov/MarketReports/C...ders/index.htm

GBP is bias.

its my reason to said bias
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  • #517,807
  • Edited 1:36pm Apr 26, 2020 1:24pm | Edited 1:36pm
Quoting corongumet
{quote} https://cotunchained.com/ https://www.cftc.gov/MarketReports/C...ders/index.htm GBP is bias. its my reason to said bias {image}

Thanks for links. So if 'Dealer/Intermediaries' are net long could it mean that they are hedging their net short client positions, and as most 'retail clients' lose then it's better to stay long ? (lol.)
Trader with an Edge.
  • #517,808
  • Apr 26, 2020 1:32pm Apr 26, 2020 1:32pm
Quoting mkvy
{quote} if i traded the weekly candles i would be dead before being rich and i would never base trades on last weeks candle
You looked at 5-minute candles as Friday closes with a small increase disregarding the downward candle closing the week. Proposal? The market will probably open with a downward gap
  • #517,809
  • Apr 26, 2020 1:44pm Apr 26, 2020 1:44pm
Here's my take on the GBPUSD. The GBPUSD market is sideways. Presently, the price action is disposed northward on the H4 time frame, respecting a rising trendline (blue) from recent lows. The 1.24500 area is a horizontal resistance. A breakdown of the trendline may see bears target the 1.22000 horizontal support area (light green).

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #517,810
  • Apr 26, 2020 2:26pm Apr 26, 2020 2:26pm
Quoting KeenPips
Here's my take on the GBPUSD. The GBPUSD market is sideways. Presently, the price action is disposed northward on the H4 time frame, respecting a rising trendline (blue) from recent lows. The 1.24500 area is a horizontal resistance. A breakdown of the trendline may see bears target the 1.22000 horizontal support area (light green). I may be wrong. Trade safe and prosper. KP {image}
kind of depends on the aspect ratio of your chart. 1 to 1 scale its a very steep trendline that blue one
  • #517,811
  • Apr 26, 2020 2:31pm Apr 26, 2020 2:31pm
Quoting mkvy
{quote} if i traded the weekly candles i would be dead before being rich and i would never base trades on last weeks candle
lol
  • #517,812
  • Apr 26, 2020 2:47pm Apr 26, 2020 2:47pm
Yes, steep but I am not trading it. I am watching how price action handles it as you can see from the full post.

KP

Quoting mkvy
{quote} kind of depends on the aspect ratio of your chart. 1 to 1 scale its a very steep trendline that blue one
Do your homework, follow the footprints of smart money
  • #517,813
  • Apr 26, 2020 2:51pm Apr 26, 2020 2:51pm
Inserted Video
  • #517,814
  • Apr 26, 2020 3:37pm Apr 26, 2020 3:37pm
3 days of patient waiting, finally get into a buy...
  • #517,815
  • Apr 26, 2020 3:52pm Apr 26, 2020 3:52pm
Quoting mkvy
3 days of patient waiting, finally get into a buy...
Hi how do you determine that buy ? Could you show or tell us why ? Best regards E
  • #517,816
  • Edited 4:12pm Apr 26, 2020 4:02pm | Edited 4:12pm
1 hour chart
Higher high 32 hours ago
Upward channel forming
Price is cheap
UK about to come out of lockdown
quite a few moving averages EMA have crossed. and price is not too far away from this point. i plot on 10,20,30,40,50,60,70,
Stoploss set at 1.2250
  • #517,817
  • Apr 26, 2020 4:12pm Apr 26, 2020 4:12pm
Quoting mkvy
1 hour chart Higher high 32 hours ago Upward channel forming Price is cheap UK about to come out of lockdown quite a few moving averages EMA have crossed. and price is not too far away from this point Stoploss set at 1.2250

How do you know UK is coming out of lockdown soon please?


A link said:
Unfortunately, this is not an answer that can be easily answered due to the lack of evidence currently available.
“We aren’t in a position yet to know when and how the lockdown will be relaxed,” says Katrina Herren, chief clinical officer at Doctorlink, the leading symptom assessment provider to the NHS.


https://www.google.com/amp/s/www.ind...246.html%3famp
  • #517,818
  • Apr 26, 2020 4:13pm Apr 26, 2020 4:13pm
Could you show us the relevant chart(s)?

KP

Quoting mkvy
1 hour chart Higher high 32 hours ago Upward channel forming Price is cheap UK about to come out of lockdown quite a few moving averages EMA have crossed. and price is not too far away from this point Stoploss set at 1.2250
Do your homework, follow the footprints of smart money
  • #517,819
  • Apr 26, 2020 4:16pm Apr 26, 2020 4:16pm
Quoting baby_legend
{quote} How do you know UK is coming out of lockdown soon please? A link said: Unfortunately, this is not an answer that can be easily answered due to the lack of evidence currently available. “We aren’t in a position yet to know when and how the lockdown will be relaxed,” says Katrina Herren, chief clinical officer at Doctorlink, the leading symptom assessment provider to the NHS. https://www.google.com/amp/s/www.ind...246.html%3famp...
It will be an incremental easing of the lockdown
  • #517,820
  • Apr 26, 2020 5:14pm Apr 26, 2020 5:14pm
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what do we think 2 W .. patterns ???? Bull flag . ??? The measurements are 2425 target ??? Or total fail as plan on Sunday posts
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