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Cable Update (GBPUSD)

  • #519,541
  • May 10, 2020 1:31pm May 10, 2020 1:31pm
Quoting Bartosz77
Monday - price will reach 1.25333. Pull back to 1.24666, end of the day ~1.25000. Tuesday - price will reach 1.26150. Pull back to 1.25533, end of the day ~1.25888
My analysis also points at pricing reaching 1.2550 by Tuesday but doubt it attaining 1.2533 by Monday as the ranges for Monday are usually between 80 -100 pips. So assuming Monday opens at 1.2405 and touches low of 1.2400, then the possible high is 1.2485/1.2500 or assuming price slides to 1.2350, then possible high will be positioned at 1.2435 /1.2450 region. Just saying, as price can do the most unthinkable!
Data + Stat + Risk/Emotions Management
  • #519,542
  • May 10, 2020 1:32pm May 10, 2020 1:32pm
I think that this was an unexpected event - rather than a sell the news
With sell the news - everyone expects something - price spikes on announcement - then its a rush to take profits and prices collapse
Also price pull back to a nice level on Friday
My view is if we think it - so does Goldmans and BOA
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,543
  • May 10, 2020 1:37pm May 10, 2020 1:37pm
Quoting SFundamental
I think that this was an unexpected event - rather than a sell the news
what do you mean? This news has been anticipated for a while and most european countries have been opened up recently.

dont get my wrong, i am from sweden, we never closed down but the economy is in some pretty bad situation anyhow as some major industries have closed down. Our largers employers like volvo trucks plans for example to keep close until September due to empty order book. With about 50k plus workers worldwide it is one of the larger companies in sweden. So just my point here, open up is one thing, but to start consuming and investing can be something completely different
  • #519,544
  • May 10, 2020 1:40pm May 10, 2020 1:40pm
Quoting Bones
If I had to guess the form of the next candle I would say like that one.The reason is the last daily ended with an upper wick and I believe support will hold.Its around a strong pivot, below 485. Some times I can have a much more specific view ,but I'm doubting anyone can say with high conviction from current PA.high ,low, open .close.-next 2 D1's. {image}

this is my expectation
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  • #519,545
  • Edited 2:05pm May 10, 2020 1:41pm | Edited 2:05pm
I'm from England and I don't think this was expected.
There was nothing in the papers
There was talk of meeting up with relatives etc... but this is still not allowed
Anyway lets see on Monday
Brexit talks get started on Monday- but the UK going back to work is going to be the main theme for me
Looking at it through interest rate bias
Remember the US Fed members are still talking about neg rates
BOE Bailey said that will never happen
That on its own is a buy on dips
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,546
  • May 10, 2020 1:59pm May 10, 2020 1:59pm
Attached Image (click to enlarge)
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what do we see ?? Tl breakout and touch confirm with pincer dB . Doij under and over the s/r line yes it looks so simple to read into a long trade . But this is cable . Never take it as said .
  • #519,547
  • May 10, 2020 2:09pm May 10, 2020 2:09pm
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down to 5 min . We could look at the green line as resistance???? So price will open low to the bottom of that tl . So again I would hope confirm low price high trade .
  • #519,548
  • May 10, 2020 2:14pm May 10, 2020 2:14pm
Quoting elbert3
{image} what do we see ?? Tl breakout and touch confirm with pincer dB . Doij under and over the s/r line yes it looks so simple to read into a long trade . But this is cable . Never take it as said .
haha like you comment "never take it as said".
  • #519,549
  • May 10, 2020 2:19pm May 10, 2020 2:19pm
Quoting SFundamental
I'm from England and I don't think this was expected. There was nothing in the papers There was talk of meeting up with relatives etc... but this is still not allowed Anyway lets see on Monday Brexit talks get started on Monday- but the UK going back to work is going to be the main theme for me Looking at it through interest rate bias Remember the US Fed members are still talking about neg rates BOE Bailey said that will never happen That on its own is a buy on dips
I for sure believe that you are from UK and not my interest to take up this discussion here. But please do a quick google search from last week and you will find several articles talking about this.. this is one from the guardian 6th May.. https://www.theguardian.com/world/20...avirus-success.

This was rather expected news..
  • #519,550
  • May 10, 2020 2:41pm May 10, 2020 2:41pm
LOL
I see that many people do it, I do it sometimes. Has market expectations. Expectations give birth to disappointments. I am struggling with my weakness so that I don't have expectations from the market, just patiently wait for the best setup and then enter the position in accordance with the rules of RR
  • #519,551
  • Edited 3:55pm May 10, 2020 2:48pm | Edited 3:55pm
Quoting krst8
{quote} I for sure believe that you are from UK and not my interest to take up this discussion here. But please do a quick google search from last week and you will find several articles talking about this.. this is one from the guardian 6th May.. https://www.theguardian.com/world/20...avirus-success. This was rather expected news..

I try to look at government messages and info from Bloomberg/Reuters- and also gauge sentiment.
I know what Bloomberg were not quite expecting a go back to work on Monday message
They were expecting something more cautious
Reactions from business

https://uk.reuters.com/article/uk-he...-idUKKBN22M0PN

There are two things that worry me - carry & the fact that there is a high probability that when people go back to works etc... more will be infected.
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,552
  • May 10, 2020 3:03pm May 10, 2020 3:03pm
Quoting msniper
{quote} this is my expectation {image}
Hello msniper....i do agree with your forecasted direction...its been holding for a while...how are you doing? its been long since have been around here...cheers.Parsifal
Imanuel Parsifal
  • #519,553
  • May 10, 2020 3:08pm May 10, 2020 3:08pm
Quoting Bones
ok, give us the chart that says that. I'm talking the whole chart with time and price ,not some snippet ,why hard to work out snippets when I know you can do it when pushed. with detailed analysis {quote}
He sounds like some president i know in white house...how are you bones???been years,hope trading this period has been highly profitable???cheers..Parsifal
Imanuel Parsifal
  • #519,554
  • May 10, 2020 3:45pm May 10, 2020 3:45pm
Here's my take on the GBPUSD. On the daily time frame, price action is within a rising triangle (blue). Last week Friday, it printed a bullish candlestick which took it from the triangle base. However, it is presently located at a minor horizontal resistance around the 1.24500 area and we should await how the market handles the area in the early part of this week. The 1.21800 area (magenta) can be an initial target of a bearish attempt to complete a down-leg of the ’M’ pattern on the daily time frame

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #519,555
  • May 10, 2020 5:29pm May 10, 2020 5:29pm
GU up move stalling
GJ UP +30PIPS since open

A lot to see in Asian session
Discipline is key
  • #519,556
  • May 10, 2020 6:41pm May 10, 2020 6:41pm
Quoting elbert3
{image} down to 5 min . We could look at the green line as resistance???? So price will open low to the bottom of that tl . So again I would hope confirm low price high trade .
https://www.tradingview.com/x/xsVSBWm8/
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,557
  • May 10, 2020 6:56pm May 10, 2020 6:56pm
Liftoff
Liftoff
We had a lift off
Discipline is key
  • #519,558
  • May 10, 2020 7:00pm May 10, 2020 7:00pm
Bullish weekly candle. Bearish daily candle. I maintain my statement after seeing the open price.
Intraday only.
  • #519,559
  • Edited 7:33pm May 10, 2020 7:09pm | Edited 7:33pm
Cable been driven by the dollar atm
The fact that Germany has introduced restrictions - puts a slight dampener on things- but EJ is doing well
Hopefully, there will be some decent comments on the first day Brexit talks - but that does slightly concern me a bit
Fed member speeches over the weekend has helped the Dow-
This helped the move on GJ- up 50+ pips- so you'd expect Cable to get a move on
These are the types of trades I like -obvious, less stress- bigger pips
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,560
  • May 10, 2020 7:47pm May 10, 2020 7:47pm
Quoting ongtrumvn99
{quote} sl -20 LONG GU 1.2450
ADD LONG 1.2418
SCALP WIN
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