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Cable Update (GBPUSD)

  • #528,341
  • Jun 16, 2020 7:53am Jun 16, 2020 7:53am
The new 4H candle is about to start..after about 10 min.... i think price would retrace with the new candle..good chance to get more longs.
  • #528,342
  • Jun 16, 2020 7:54am Jun 16, 2020 7:54am
Quoting harold1
the news is good but the market goes the other way around, haha... stophunt?
Equities up on the news…...
Pound is risk based....
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #528,343
  • Jun 16, 2020 7:54am Jun 16, 2020 7:54am
Quoting Georginson
{quote} It depends on the direction of the patience.
Still holding on to your shorts?
  • #528,344
  • Jun 16, 2020 7:57am Jun 16, 2020 7:57am
h4
Attached Image (click to enlarge)
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SCALP WIN
  • #528,345
  • Jun 16, 2020 7:59am Jun 16, 2020 7:59am
m5
Attached Image (click to enlarge)
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SCALP WIN
  • #528,346
  • Jun 16, 2020 8:01am Jun 16, 2020 8:01am
I am a lovesick guy
Inserted Video
SCALP WIN
  • #528,347
  • Jun 16, 2020 8:03am Jun 16, 2020 8:03am
Quoting ongtrumvn99
I am a lovesick guy https://youtu.be/1hhoWqK3XX8
Me 2
Don't trade what you think. Just what you see!!!
  • #528,348
  • Jun 16, 2020 8:05am Jun 16, 2020 8:05am
Hey guys I am totally lost! could anyone help me understand this please!
I was keeping an eye on "USD Core Retail Sales m/m" & USD "Retail Sales m/m" results. they came out to be very good for USD. So my anticipation was that GPB/USD would go down but instead it went up!

Can anyone please explain!!!!!
  • #528,349
  • Jun 16, 2020 8:06am Jun 16, 2020 8:06am
what is going on ? drop ?
  • #528,350
  • Jun 16, 2020 8:10am Jun 16, 2020 8:10am
Quoting Maverick10
{quote} Still holding on to your shorts?
I have closed all my previous short @ 1.2520 last week as I knew better sell levels at 1.2585 and 1.2635. So currently I have one short from 1.2605.
Now here are reasons to hold on to short for a target of 1.2430 short term and 1.2310 medium term.

*the weekly range is currently 224 pips which is the minimum weekly range in the last 15 weeks, so reversal likely anywhere from this current 1.2670 level (now not ruling out 1.2720)
*monthly range Being 488 pips at the moment is average monthly range for June and not expected to break the top at 1.2812
*this current month has 0 pip movement below the opening price of the month at 1.2324 which 90% of the time price often drops by at least 10 pips below or above monthly opening.

Bias still tilted for a test of 1.2310.

Peace!
Data + Stat + Risk/Emotions Management
  • #528,351
  • Jun 16, 2020 8:13am Jun 16, 2020 8:13am
ok. correction is confirmed
Intraday only.
  • #528,352
  • Jun 16, 2020 8:15am Jun 16, 2020 8:15am
Quoting Mitiblotch
{quote} Correct. I cannot even imagine buying here. If I wanted to try it should be 2550 which also coincides with the daily pivot and that would just be a scalp with tight SL.
Asterik 1.2720 as possible top which is unlikely, then a drop back to 1.24 and 1.23
Data + Stat + Risk/Emotions Management
  • #528,353
  • Jun 16, 2020 8:15am Jun 16, 2020 8:15am
Oh my GU, you truly are the Widow Maker! Hope everyone is trading with SL.
  • #528,354
  • Jun 16, 2020 8:16am Jun 16, 2020 8:16am
yes, a good drop can be expected now.
Intraday only.
  • #528,355
  • Jun 16, 2020 8:16am Jun 16, 2020 8:16am
Attached Image (click to enlarge)
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yes yes yes
  • #528,356
  • Jun 16, 2020 8:17am Jun 16, 2020 8:17am
cut-loss sir
  • #528,357
  • Jun 16, 2020 8:26am Jun 16, 2020 8:26am
Its still ranging, boring day
COT: The precious data ignored
  • #528,358
  • Jun 16, 2020 8:30am Jun 16, 2020 8:30am
I think the pound wont leave this zone yet..took new longs from 1.2645 still targeting 1.2709.
  • #528,359
  • Jun 16, 2020 8:32am Jun 16, 2020 8:32am
it will test 26711 before the drop
Sell : 26711
Tp : 25511
  • #528,360
  • Jun 16, 2020 8:32am Jun 16, 2020 8:32am
Quoting ali.hassaan
Hey guys I am totally lost! could anyone help me understand this please! I was keeping an eye on "USD Core Retail Sales m/m" & USD "Retail Sales m/m" results. they came out to be very good for USD. So my anticipation was that GPB/USD would go down but instead it went up! Can anyone please explain!!!!!
Take the result of the news with a pinch of salt.
Focus on price action.
Patience.....
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