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Cable Update (GBPUSD)

  • #519,901
  • May 12, 2020 8:36am May 12, 2020 8:36am
Quoting Agu
{quote} Closed my short at 2353 I expect bulls to take advantage of the bad CPI news to build strong support at 2350 and break for 2400 -50 Hence I'm long at 2355 with 20pip SL
Seems the bulls can't hold 2350 and we're back to bear territory.

I await a good entry point
Discipline is key
  • #519,902
  • May 12, 2020 8:37am May 12, 2020 8:37am
Lots of selling going on pound, S&P etc... etc....
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,903
  • May 12, 2020 8:39am May 12, 2020 8:39am
This is pound selling though rather than dollar driven - so closing shorts atm
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,904
  • May 12, 2020 8:40am May 12, 2020 8:40am
second bite
Watch me trade Live on YouTube
  • #519,905
  • May 12, 2020 8:41am May 12, 2020 8:41am
Second setup,lets see if this one pays
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.png Size: 133 KB
Watch me trade Live on YouTube
  • #519,906
  • May 12, 2020 8:45am May 12, 2020 8:45am
Quoting Stefan90csk
Somehow I don’t see it falling more, I think as low as 1.23000. Thats my opinion tho.
Exectly
Attached Image (click to enlarge)
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Dx is starting his engine
Up up and away
Attached Image (click to enlarge)
Click to Enlarge Name: CamScanner 05-12-2020 16.52.35_1.jpg Size: 99 KB
yes yes yes
  • #519,907
  • May 12, 2020 8:48am May 12, 2020 8:48am
Quoting Moty
{quote} Exectly {image}
Moty Moty Moty!!!!!

You need to get these shorts out of the way.
Discipline is key
  • #519,908
  • May 12, 2020 8:52am May 12, 2020 8:52am
Quoting SFundamental
This is pound selling though rather than dollar driven - so closing shorts atm

should have waited but pound was leading...

https://www.tradingview.com/x/eDHZc16M/
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,909
  • May 12, 2020 8:52am May 12, 2020 8:52am
Bears not out of the woods yet...
Attached Image (click to enlarge)
Click to Enlarge Name: GU5.12.30M.png Size: 73 KB
Always trade your own plan...I don't provide trading signals.
  • #519,910
  • May 12, 2020 8:54am May 12, 2020 8:54am
Quoting Moty
{quote} Exectly {image}
Opportunity to close shorts... A fly up looms
Data + Stat + Risk/Emotions Management
  • #519,911
  • May 12, 2020 8:56am May 12, 2020 8:56am
A few of weakhanded shorts getting hurt atm
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,912
  • May 12, 2020 8:58am May 12, 2020 8:58am
Now at fair value

https://www.tradingview.com/x/NOh5Gw2l/
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,913
  • May 12, 2020 9:05am May 12, 2020 9:05am
Quoting Coreg2004
Bears not out of the woods yet... {image}
I am extremely stubborn today at 1.24100 (maybe higher). I have added to this business today. I give myself one last chance, if I don't stop trading today, I'll be back tomorrow
  • #519,914
  • May 12, 2020 9:09am May 12, 2020 9:09am
Quoting Coreg2004
Bears not out of the woods yet... {image}
Moty, be aware of this possibility...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU5.12.3M.png Size: 61 KB
Click to Enlarge Name: BearTruncated.PNG Size: 65 KB
Always trade your own plan...I don't provide trading signals.
  • #519,915
  • May 12, 2020 9:12am May 12, 2020 9:12am
I don't get it. Eur/Usd exploding upwards and Usd/Chf going down. Why would cable fall for the last three hours?
Gone to a better place
  • #519,916
  • May 12, 2020 9:15am May 12, 2020 9:15am
Quoting smikester
I don't get it. Eur/Usd exploding upwards and Usd/Chf going down. Why would cable fall for the last three hours?
GBP weakness
Focus.
  • #519,917
  • May 12, 2020 9:15am May 12, 2020 9:15am
Quoting smikester
I don't get it. Eur/Usd exploding upwards and Usd/Chf going down. Why would cable fall for the last three hours?
EUR is 5X stronger than GBP and USD today.
One of the reasons why I'm not trading today.
Patience.....
  • #519,918
  • May 12, 2020 9:15am May 12, 2020 9:15am
Tp is in place
Attached Image (click to enlarge)
Click to Enlarge Name: CamScanner 05-12-2020 17.15.04_1.jpg Size: 117 KB
yes yes yes
  • #519,919
  • May 12, 2020 9:16am May 12, 2020 9:16am
Quoting Vincent1
{quote} 1.2330 is the key level. Last reaction makes me think that bulls want it up If bears are not able to break it soon, we are in bulls territory
Look like it is not able to stay above 1.23, $ stronger
So, possible short, under 1.20/1.19 looking for bulls to push 1.3150
IMHO
  • #519,920
  • May 12, 2020 9:18am May 12, 2020 9:18am
Quoting smikester
I don't get it. Eur/Usd exploding upwards and Usd/Chf going down. Why would cable fall for the last three hours?
To see correlation if exist , you need to look at weekly chart atleast , sometimes at daily .
Attached Image(s) (click to enlarge)
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yes yes yes
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