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Cable Update (GBPUSD)

  • #524,801
  • Jun 2, 2020 4:13am Jun 2, 2020 4:13am
hello
I see resistance at:
2566
2572

after that open country until area of 2610/2620

M15 chart
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 10 KB
in wondering about yourself, you forgot what you came here to be part of
  • #524,802
  • Jun 2, 2020 4:16am Jun 2, 2020 4:16am
Quoting Stefan90csk
{quote} Okay, 1.26000 it is.
Careful Stefan.... Risk reward skewed for a fall to at least 1.2310
Data + Stat + Risk/Emotions Management
  • #524,803
  • Jun 2, 2020 4:19am Jun 2, 2020 4:19am
Heading towards 1.26000 I guess.
  • #524,804
  • Jun 2, 2020 4:20am Jun 2, 2020 4:20am
Quoting Georginson
{quote} Careful Stefan.... Risk reward skewed for a fall to at least 1.2310
I ain't buying that BS. Still hope it will be exhausted soon.

Running out of patience
Patience and Discipline.
  • #524,805
  • Jun 2, 2020 4:21am Jun 2, 2020 4:21am
Quoting Georginson
{quote} Careful Stefan.... Risk reward skewed for a fall to at least 1.2310
From my experience, whenever there is a gap, 2 things happen

If usually fill the gap (at some point), then it goes back to the weekly open. This week we filled up the gap but didn't reach the weekly open which is a 1.2325

Don't know if you stats about it
COT: The precious data ignored
  • #524,806
  • Jun 2, 2020 4:25am Jun 2, 2020 4:25am
Quoting tehnoob
{quote} Ohh juicy! Me likey! Maybe pips for Luke! {image}
Closed this GBP/JPY punt from last Friday the 29th as well, originally posted here.

Bit over 300 pips from that one. Keeping my puffer fish well-fed
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJPY yarr.jpg Size: 95 KB
Click to Enlarge Name: GBPJPYclosed.jpg Size: 99 KB
  • #524,807
  • Jun 2, 2020 4:28am Jun 2, 2020 4:28am
It is safe not to against a moving "train"
It is safe not to chase a moving "train" if you already missed it
It is safe to wait for the next "train"
  • #524,808
  • Jun 2, 2020 4:31am Jun 2, 2020 4:31am
Quoting ongtrumvn99
{quote} Today I am confident that GBP will continue to increase strongly
Maybe. Maybe it still visits the last feeding grounds: the double top of 1.2650

But puffer fish are easily scared. When they start feeling very confident is when they start getting paranoid they're wrong

Today has a bit of that March 9th feeling
  • #524,809
  • Jun 2, 2020 4:38am Jun 2, 2020 4:38am
Quoting kuroro001
{quote} From my experience, whenever there is a gap, 2 things happen If usually fill the gap (at some point), then it goes back to the weekly open. This week we filled up the gap but didn't reach the weekly open which is a 1.2325 Don't know if you stats about it
Gaps are often filled and might sometimes not be filled immediately... This year 2020 has an unfilled gap at 1.3250 area which will still be filled but I see that happening around October/December...

Meanwhile, I have seen a typical weekly candle of this nature dated 16 September 2018... Price opened at 1.3068, touched a low of 1.3067 surged to high of 1.3298 being 230 pips above the opening price then on the last trading day of that week price slide to 1.3054 still got a 14 pip decline from the open...

This week candle is the exact replica of that and other numerous times this scenario have occurred they end up touching a weekly low before the week ends.

In addition weekly range now stands at 232 pips equalling last week range, 4 hours RSI also at 73.4 all pointing towards a drop. There is always an aggression when the trend is about to end and here it is.
Data + Stat + Risk/Emotions Management
  • #524,810
  • Jun 2, 2020 4:39am Jun 2, 2020 4:39am
who have taken fresh short ?

still wants to go u.

lol

2562 is holding now
Intraday only.
  • #524,811
  • Jun 2, 2020 4:39am Jun 2, 2020 4:39am
They are trying to sell it...but global risk is squeezing it

https://www.tradingview.com/x/ml4NbZ0x/
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #524,812
  • Jun 2, 2020 4:44am Jun 2, 2020 4:44am
Quoting Yngwie
My Daily chart show price will going up more. Wait nearby 2600 to short. Try to buy if price down bit {image}
nice
Attached Image
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #524,813
  • Jun 2, 2020 4:44am Jun 2, 2020 4:44am
Quoting Georginson
{quote} Gaps are often filled and might sometimes not be filled immediately... This year 2020 has an unfilled gap at 1.3250 area which will still be filled but I see that happening around October/December... Meanwhile, I have seen a typical weekly candle of this nature dated 16 September 2018... Price opened at 1.3068, touched a low of 1.3067 surged to high of 1.3298 being 230 pips above the opening price then on the last trading day of that week price slide to 1.3054 still got a 14 pip decline from the open... This week candle is the exact replica...
Thanks for the stats

I guess time will tell...but it looks ugly now. When you look at EURO its worst

Patience patience
COT: The precious data ignored
  • #524,814
  • Jun 2, 2020 4:48am Jun 2, 2020 4:48am
Quoting kuroro001
{quote} Thanks for the stats I guess time will tell...but it looks ugly now. When you look at EURO its worst Patience patience
It gets worst before it gets better.. patience will do the trick.
Data + Stat + Risk/Emotions Management
  • #524,815
  • Jun 2, 2020 4:48am Jun 2, 2020 4:48am
Fundamentally, why would you short the pound atm.
Apart from price
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #524,816
  • Jun 2, 2020 4:49am Jun 2, 2020 4:49am
Quoting navk
who have taken fresh short ? still wants to go u. lol 2562 is holding now
this is powerful momentum.
There may be retraces at resistance zones on the way, but i would not go against this up move today.
in wondering about yourself, you forgot what you came here to be part of
  • #524,817
  • Jun 2, 2020 4:51am Jun 2, 2020 4:51am
Quoting Siame
LONG 1.26400 next resistance it seems. A close below yesterday's High invalidates this Bullish Bias. .

I'm expecting this Bullish Rally till NFP.

1st TP at 1.26000
  • #524,818
  • Jun 2, 2020 4:52am Jun 2, 2020 4:52am
Closed long position. Looking for sell only
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #524,819
  • Edited 5:08am Jun 2, 2020 4:56am | Edited 5:08am
This is a very import concept ,but not as a bear trap
it gaped down then opened bullish and went up 150 ,the only thing is that open is like the other two prior
Its firm = today is Tuesday ,quote me when that open breaks down this week
It can retrace now and has plenty of room but it cannot take that open this week ,all we can do is wait a further 3-4 days to prove it...

So you got on W1
gap down shaven inverted hammer ,
then open bullish confirmation -against long failed bear which closed shaven...
then gap down open bullish -up right now on Tuesday from the bottom of a box- now at the top region, in 2 and a bit week

It can retrace ,go side or break the top this week would be the actual conclusion rather than bear trap for this week

Quoting Georginson
{quote} There is already 200 pips to the upside this week and no single sell from the weekly opening price, this is a classical buying trap. We will see 1.23....1.21 and 1.19 in an aggressive manner all bull callers will quietly switch to Bears. This is time for swing for me personally... Third sell entry at 1.2510 and first target is 1.23 second target is 1.2160.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-Weekly.png Size: 17 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #524,820
  • Jun 2, 2020 4:59am Jun 2, 2020 4:59am
2574 mmm watch
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