Cable Update (GBPUSD) | Page 26046 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #520,901
  • May 17, 2020 3:29am May 17, 2020 3:29am
Gbpusd situation as for now but yes we still have time
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200517_112718.jpg Size: 80 KB

Take care.
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #520,902
  • May 17, 2020 3:39am May 17, 2020 3:39am
Don't commit suicide. Look around your home and see what you can sell off to raise some cash. Check around your neighborhood to see who can employ you or give you a casual work to do, while looking for a more permanent job. Then stay off Forex trading until you have learned solid trading skills and developed a mindset geared towards patience and self-discipline.

Keep safe.

KP

Quoting silolo
https://www.ig.com/en/weekend-trading Left buy at 1.1204 15 pips down and my account is flames zero equity. I was scammed some years ago and my life was in mess. I think suicide will just do it. $245 is whole lot in my condition. Forex did not hurt me but those that misled me and scammed my innocent. Life is never merciful
Do your homework, follow the footprints of smart money
  • #520,903
  • May 17, 2020 3:40am May 17, 2020 3:40am
Quoting azidane
https://www.bloomberg.com/news/artic...says-telegraph GAP down and a push down more ??
Actually it is not a "news"
It is already in the market:
https://www.forexfactory.com/news/99...ore-qe-in-june

Big boys already knew, that's why GBP is waek since May 7th
  • #520,904
  • May 17, 2020 3:42am May 17, 2020 3:42am
Yes my life has been gambled away yes you right brutal commentator. I was scammed thousands of dollars in life savings online some years ago. The memory is so strong now. I came to forex to seek solace and make small small gains but alas some signal magicians mess with my mind. I was doing fine on my own initially. I was never a forex trader growing up in my life.

GU is 56 pips down from Friday close and I know my equity is gone.

This use to give me comfort and joy. I'm helplessly hopeless right now
  • #520,905
  • May 17, 2020 3:46am May 17, 2020 3:46am
Morning.
  • #520,906
  • May 17, 2020 4:10am May 17, 2020 4:10am
Quoting silolo
{quote} My account is gone . Just saw the gap down from the link posted yesterday. At 58 years just look at me. Equity was $245 before this strike that just befall me. If I don't come here to cry this out, I may do something stupid soon. Yes it is all the funds I have got. I was scammed some years ago of everything. Anyone else knows how else I can raise some money online as I am indoor all through. No wife, no kids
Many of us have gone through the same experience as you have. If you want you may switch to a cent account. You can deposit $10 and in a couple of weeks transform that in $100. I suggest you select this broker, FBS. Truth being said, I don't understand why would your life be tied to $200.
Risk Management is of utmost importance!
  • #520,907
  • May 17, 2020 4:24am May 17, 2020 4:24am
Quoting RCtrader
{quote} Many of us have gone through the same experience as you have. If you want you may switch to a cent account. You can deposit $10 and in a couple of weeks transform that in $100. I suggest you select this broker, FBS. Truth being said, I don't understand why would your life be tied to $200.
just leave he at his fantasy world mate..
wasted our time to talk this kind of person..
kids at kindergarten is more understand when we give them some advice..
this keep shouting all time..
already know market are close at weekend..
just for a cup of coffee...
  • #520,908
  • May 17, 2020 4:29am May 17, 2020 4:29am
hey guys, it will not open down, the price either open at same price as it closed or at higher price.

IMO there is no interest in shorting at this low price.

Last 5 days continuous bearish candles, so Monday and Tuesday expect bullish candles.

And since price never retraced on Friday, expect retracement on Monday open.

Wait for another 12 hrs.
Intraday only.
  • #520,909
  • May 17, 2020 4:50am May 17, 2020 4:50am
Quoting navk
hey guys, it will not open down, the price either open at same price as it closed or at higher price. IMO there is no interest in shorting at this low price. Last 5 days continuous bearish candles, so Monday and Tuesday expect bullish candles. And since price never retraced on Friday, expect retracement on Monday open. Wait for another 12 hrs.
you are most probably right, just around 50-100 GAP down Is still possible and will be a blessing to buy for 2-3 days, and at the same time will transfer base currency of an account to GBP as well, targeting long term 1.3-1.4 =)
  • #520,910
  • May 17, 2020 4:51am May 17, 2020 4:51am
Quoting silolo
https://www.ig.com/en/weekend-trading left buy at 1.1204 15 pips down and my account is flames zero equity. I was scammed some years ago and my life was in mess. I think suicide will just do it. $245 is whole lot in my condition. Forex did not hurt me but those that misled me and scammed my innocent. Life is never merciful
weekend rates are majorly affected by low liquidity, the spot forex market fluctuations and any major news factors or happenings. All these results in the gaps on opening.

Look again at those prices about 5 mins before market opening.

If you are still afraid of the current price wait till powell's interview is aired and he is hawkish or dovish

though we are in a bear market, i expect a retracement to previous support turned resisitance 2150-64

like navk said wait for 12 hrs.
Discipline is key
  • #520,911
  • May 17, 2020 4:54am May 17, 2020 4:54am
Quoting NeoMatriX
GU {image}
H4
Attached Image (click to enlarge)
Click to Enlarge Name: gu h4.PNG Size: 37 KB
  • #520,912
  • May 17, 2020 4:56am May 17, 2020 4:56am
Quoting navk
hey guys, it will not open down, the price either open at same price as it closed or at higher price. IMO there is no interest in shorting at this low price. Last 5 days continuous bearish candles, so Monday and Tuesday expect bullish candles. And since price never retraced on Friday, expect retracement on Monday open. Wait for another 12 hrs.
Price is already down sir. 55 pips gap. I am using the thread to calm nerves for now. Somebody suggested to me what to do. I will post it here later for all to see@everyone else is there drug one could take and possibly do not wake up. This way you aren't hurting anyone
  • #520,913
  • May 17, 2020 5:05am May 17, 2020 5:05am
Quoting silolo
{quote} Price is already down sir. 55 pips gap. I am using the thread to calm nerves for now. Somebody suggested to me what to do. I will post it here later for all to see@everyone else is there drug one could take and possibly do not wake up. This way you aren't hurting anyone
please dont make this forum for telling your problems, this forum is filled with informative and positive comments on trading, please dont make it a place to disperse your problems, these aren't made that. im sorry but hard reality it aint.

additionally i dont wanna see newcomers see comments like this, gives a bad rep for this industry.

you shouldn't be trading if your emotions are like this, this will damage you.


trade safe and stay safe
Joe
  • #520,914
  • May 17, 2020 5:07am May 17, 2020 5:07am
Quoting akim0895
{quote} just leave he at his fantasy world mate.. wasted our time to talk this kind of person.. kids at kindergarten is more understand when we give them some advice.. this keep shouting all time.. already know market are close at weekend..
agreed as bad as it sounds people never listen, and people think were being mean or whatever but you gotta be emotionless in this bracket, truth.
  • #520,915
  • May 17, 2020 5:21am May 17, 2020 5:21am
a good friend told me its not where you at to succeed in anything at life, its where your minds at.

i think i can speak for all here, when we all started we didn't have money coming out of are ears, we have all looked on our trading platforms and seen red and been worried, its about learning and staying composed, its just part of the journey, speaking from experience dude losing money at 18 when i was working full time on minimum wage sucked, my life had hardly began and i was losing, its not what happens it how you deal with it, if you wanna talk feel free to private message me or anyone here, we can all speak on this issue, but the last place to do it is all over online for hundreds to see.

i hope you read this message

Joe
  • #520,916
  • May 17, 2020 5:31am May 17, 2020 5:31am
Quoting Almo2312
Gbpusd situation as for now but yes we still have time {image} Take care.
Do you trust it?
Patience and Discipline.
  • #520,917
  • May 17, 2020 5:33am May 17, 2020 5:33am
Quoting silolo
{quote} Price is already down sir. 55 pips gap. I am using the thread to calm nerves for now. Somebody suggested to me what to do. I will post it here later for all to see@everyone else is there drug one could take and possibly do not wake up. This way you aren't hurting anyone
where do you seemtheprice ?

however, the price what you see is not applicable when you the market opens
Intraday only.
  • #520,918
  • May 17, 2020 5:38am May 17, 2020 5:38am
Quoting Georginson
{quote} There are still many hours left before open, price can still open at 1.2130 region... Suicide is not an option, money can still be made but life that is gone can never be recovered.
My friend, there is no doubt in the trend the gbpusd is on the downside and needs to get down around more than 400 pips more before it gets the support. Just try to understand that market work in waves so yes the slight pullback is possible and you can get the price. But if the opening gap is huge which currently suggests than pullback might not be possible anyways the price will retest the 1.2000 level before making the lower lows you can cut that trade at that point.

Never lose more than 1% of your capital in a single trade. Forex is nothing but just money management.

Now let's discuss my thoughts critics are welcome.

https://www.tradingview.com/x/slCpKEd9/

The price has formed the double head and shoulder which is typically known as a double top as well. The neckline is clearly broken and the distance from the neckline to the head is 400 pips so this is the bear target.

Which is actually 23.6% of the Fibs. So I see sell sell in the next week.

You can get the weekly candle top at around 1.2110 to 1.2150 as the current marketing is fighting at 38.2 Fib. I recommend a short entry within this range and the stop loss of 100 pips and the downside so of 400 pip the risk to reward ratio is 1:4 or you can get out sooner as well. It's best that you do the scaling of the trade at within these levels.

Again never risk your capital more than 5% even if it is a good opportunity patience is a virtue.

Please keep in mind that currencies have co-relation as well so we need to check the EURUSD as well as the drag od 400 pip not be possible without impacting the other high yielders.

Please see the euro chart.

https://www.tradingview.com/x/g7V8HIir/

The EURO is fighting at the 23.8 Fib level with a symmetrical triangle. Since it is a symmetrical triangle the outlook can be determined till the end of the break. But the price actions tell a lot of things usually the price goes away as it touched the trendline but currently the price is not going away it stays over there so the seller are gaining control near the trendline. Plus the technical outlook of the world at least for the next two months is not good till the lockdown gets ended. So the fall of the markets is expected as well adding more power in USD. One more thing this trendline break will be very heavy on Euro as in the monthly scale it is a 35-year-old trendline.

So the EURO break is also expected.

Please share your thoughts and confirm are my observations are correct.
  • #520,919
  • May 17, 2020 5:55am May 17, 2020 5:55am
GBP made New All Time Highs in Gold (XAUGBP) on Friday close, which indicates more weakness in GBP

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 23 KB
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 19.6%
  • #520,920
  • May 17, 2020 6:06am May 17, 2020 6:06am
From IG, I see 1.2065, yeah,

But week end prices can not be trusted.
Intraday only.
412 traders viewing now, 1 is registered:
CPUmice