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Cable Update (GBPUSD)

  • #518,621
  • May 1, 2020 3:17pm May 1, 2020 3:17pm
Quoting elbert3
{image}{quote} As above and short take stop is 6 pip target 24400
2495 needs to fold or if it holds 2566
  • #518,622
  • May 1, 2020 3:25pm May 1, 2020 3:25pm
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little h/s lol
  • #518,623
  • May 1, 2020 3:29pm May 1, 2020 3:29pm
Quoting elbert3
{quote} I do talk to it .. it feeling like a busy day .
As above lol
  • #518,624
  • May 1, 2020 3:33pm May 1, 2020 3:33pm
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1 hour . 1.. is a retest of the bull candle . Long order at 2511 sell on the possible below
  • #518,625
  • May 1, 2020 3:34pm May 1, 2020 3:34pm
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love that h/s
  • #518,626
  • May 1, 2020 4:00pm May 1, 2020 4:00pm
Quoting Stefan90csk
Are you guys still buying?
very soon.
A little dip next week into mid 24's, then waiting for bullish sign on lower tf
Compulsions can be hard to resist
  • #518,627
  • May 1, 2020 5:05pm May 1, 2020 5:05pm
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what a week
well,
Now, we have double top on Weekly chart

if next week cable down below 1.2427 possible down to:

1.2370 ~ 1.2250 and then, possible up to 1.29xx


  • #518,628
  • May 1, 2020 5:25pm May 1, 2020 5:25pm
Quoting trumps
{quote} very soon. A little dip next week into mid 24's, then waiting for bullish sign on lower tf
April confirms rejection at more recent resistance as Bones suggested would happen.
Small spike on day tf next week for retest, then down.
Attached Images
Compulsions can be hard to resist
  • #518,629
  • May 2, 2020 12:26am May 2, 2020 12:26am
Intraday prediction;
Currently trend bias:Neutral

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  • #518,630
  • May 2, 2020 7:39am May 2, 2020 7:39am
What a week its been for GBP/USD!

I think we will see it go above 1.2600 in the next week or two.

Anyone else agree?
  • #518,631
  • May 2, 2020 7:58am May 2, 2020 7:58am
I post here hourly chart and 5 min TF.

iT is possible 2525 would offer resistance for down move towards 2450 which is hourly support and then bounce.

However, if 2488 holds, then a big move towards 2640 on cards.
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Intraday only.
  • #518,632
  • May 2, 2020 8:04am May 2, 2020 8:04am
Cot data
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  • #518,633
  • May 2, 2020 8:04am May 2, 2020 8:04am
Looking at the structure of Fridays daily candle and what might it become on Monday the recent comparison is the 26th Feb daily candle. It had no bottom wick and Fridays had a very small wick indicating Bears were in control and that bulls did not attempt to push higher of it's lows.
If we have a bearish day Monday we could see it rise to 2540 then turn bearish and head to the 2440 area, bottom of the decending channel I have drawn. If it respects that channel? Also the area other traders have indicated!
Bullish rallying day Monday we'll see 2700, top of descending channel(if it respects that channel?) or at least 2600 for a bullish day
Daily 100ma comes in @ 2741 and the 200ma @ 2652
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Don't Leave Money on the Table
  • #518,634
  • May 2, 2020 8:15am May 2, 2020 8:15am
Quoting htcone
One has to dig out the bigger moves in last day of the month and next day price falls like a rock making all analysis useless...It is reoccurring pattern with GBP pairs in most of month ends...
Someone said it was flawed observation
sell strength in falling markets, and buy weakness in rising markets.
  • #518,635
  • May 2, 2020 9:21am May 2, 2020 9:21am
GU 1H

Quotes are next to reversal zone.....so on the left new green swing with entry point & TPs

Stay SAFE, stay GREEN
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  • #518,636
  • May 2, 2020 9:33am May 2, 2020 9:33am
Quoting ozalid
{quote} A valuable insight. On 30/12 and 30/01 the price soared up and then fell. It is worth keeping an eye on it
pattern repeated
sell strength in falling markets, and buy weakness in rising markets.
  • #518,637
  • May 2, 2020 10:14am May 2, 2020 10:14am
Quoting HaLBot
Looking at the structure of Fridays daily candle and what might it become on Monday the recent comparison is the 26th Feb daily candle. It had no bottom wick and Fridays had a very small wick indicating Bears were in control and that bulls did not attempt to push higher of it's lows. If we have a bearish day Monday we could see it rise to 2540 then turn bearish and head to the 2440 area, bottom of the decending channel I have drawn. If it respects that channel? Also the area other traders have indicated! Bullish rallying day Monday we'll see 2700,...
Great piece of analysis you have got here. Friday bearish move was necessary to correct the weekly range overbought condition and also to drag the 4 hours RSI from 73 back to medium at 50. Most Mays are bearish in nature and the medium term trend is still bearish for a test of 1.22 region. This month is expected to move at least 10 to 140 pips above the opening price which shows 1.2605 - 1.2735 which will not overrule the bearish bias of 1.22. May should have at least 450 pips range and should the rate attempt 1.2735, just subtract 450 pips from it which will give 1.2285 in summary a sell from 1.26 -1.27 is advisable to 1.22 level while stop loss can be set at 1.2770. stay safe and remain profitable.
Data + Stat + Risk/Emotions Management
  • #518,638
  • May 2, 2020 10:20am May 2, 2020 10:20am
Quoting htcone
{quote} pattern repeated
That was a deep search but these market makers are smart, they will make this last trading day in May Sell aggressively or end it as doji/draw
Data + Stat + Risk/Emotions Management
  • #518,639
  • May 2, 2020 2:32pm May 2, 2020 2:32pm
Quoting sgkrishn
Sell not advisable till FE 161.8% 1.2568
ok next Target 1.3500. Thank me later
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #518,640
  • May 2, 2020 7:17pm May 2, 2020 7:17pm
GBPUSD bearish.
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