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Cable Update (GBPUSD)

  • #528,361
  • Jun 16, 2020 8:40am Jun 16, 2020 8:40am
closed all.... wait news 15mins
break... time to sell
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row row row your boat
  • #528,362
  • Jun 16, 2020 8:41am Jun 16, 2020 8:41am
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!!!!!
Lol, just risk on for some time: is good for cable. Later often bit of a reality check..

Better trade some risk asset classes like oil or Spx/dax many times; I rearly play currencies on these events
Life is great!!
  • #528,363
  • Jun 16, 2020 8:43am Jun 16, 2020 8:43am
Quoting Siame
LONG 1.26706
CLOSED @ 1.26247 -50pips

Till tomorrow.
  • #528,364
  • Jun 16, 2020 8:50am Jun 16, 2020 8:50am
hello all

like i said im trying to reduce my commenting to more productive pieces so for this week ive placed one trade on GU and 3 on GJ.

as we all know on GJ the 12th we had quite a dramatic push through on its downtrend, we then saw it bottom out a second time for the confirmation of a rise. causing 133.8 to be support , i patiently waited for a decent pip confirmation and jumped on.

for GU, the pattern for the past few days was similar, we passed the passed two previous days high i can see this slowly coming up to 1.27 despite some of these big negative candles on 15m

my positions are below for those interested, any feedback will be appreciated

i wish you all a green week

Joe
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  • #528,365
  • Jun 16, 2020 8:50am Jun 16, 2020 8:50am
Quoting thatguy22
Please consider taking a look at my Weekly Market Update. DXY starts at 0:03, GBP/USD starts at 09:28. I upload weekly analysis every Sunday and daily analysis from TUE to FRI. https://www.youtube.com/watch?v=9MUlMefw9z4
Taking this trade
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  • #528,366
  • Jun 16, 2020 8:52am Jun 16, 2020 8:52am
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!!!!!

If you look at equities - these rallied when the data was released

Equities are regarded as being risk based. - (ie - you may not get back what you invest- hence risk)

The pound is regarded as a risk based currency-

And always look at volume

Look ahead, Macro=Direction, Levels & Structure = Entry
  • #528,367
  • Jun 16, 2020 8:54am Jun 16, 2020 8:54am
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!!!!!
if your trading bias is with news be very careful, similar to fredo PA is very important, news can be opposite to even what it says, doesn't make sense, NFP has been prime example.

this is one reason i never trade news.


hope you have a green week
Joe
  • #528,368
  • Jun 16, 2020 8:57am Jun 16, 2020 8:57am
Powell in 3 minutes
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yes yes yes
  • #528,369
  • Jun 16, 2020 9:16am Jun 16, 2020 9:16am
Quoting SFundamental
{quote} And always look at volume
Im amazed to see most of the charts without voume honestly; I like to think they just showing price action and watching on other chart the volume

Trading seeing no volume feels a bit like driving the car blind lol

Cheers mate, wonderfull day!
Life is great!!
  • #528,370
  • Jun 16, 2020 9:18am Jun 16, 2020 9:18am
Okay you had your fun,
my computer crashed and you may have noticed that in the last two days I only upload graphs through the smartphone, now I have a new computer and the drilling continues
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yes yes yes
  • #528,371
  • Jun 16, 2020 9:20am Jun 16, 2020 9:20am
A case of sell at resistance, buy at support as some consolidation sets-in...The 2hr chart below shows the upside potential obstacles/resistance and the potential obstacles/support to more downside. 2598 is the next downside fib being of move from yesterday's lo - today's current hi. Powell speaking so beware !
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Trader with an Edge.
  • #528,372
  • Jun 16, 2020 9:22am Jun 16, 2020 9:22am
Quoting Moty
Okay you had your fun, my computer crashed and you may have noticed that in the last two days I only upload graphs through the smartphone, now I have a new computer and the drilling continues {image} {image}
told ya to stop hammering
row row row your boat
  • #528,373
  • Jun 16, 2020 9:27am Jun 16, 2020 9:27am
Quoting Moty
Okay you had your fun, my computer crashed and you may have noticed that in the last two days I only upload graphs through the smartphone, now I have a new computer and the drilling continues {image} {image}
Get them charts on there bud! I have not got a clue how to read them... up.. up.. down. up.. down.. up...up.down.
Don't trade what you think. Just what you see!!!
  • #528,374
  • Jun 16, 2020 9:29am Jun 16, 2020 9:29am
Quoting Roszey
If traders are patient with GBPUSD they will be rewarded big time. {image}
Please can i have these tools or can you point to were i can have something similar. Thanks in advance
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #528,375
  • Jun 16, 2020 9:33am Jun 16, 2020 9:33am
M5
buyStop @ 1.26346

atb vvm
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PA Trading with EMAs & common Sense
  • #528,376
  • Jun 16, 2020 9:35am Jun 16, 2020 9:35am
smaller tf resist at weekly pivot. bull trap?
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  • #528,377
  • Jun 16, 2020 9:41am Jun 16, 2020 9:41am
certainly a day for the smaller t/f's so far today......is the last but current 1hr that bearishly engulfed last 4 on that t/f a clue to more downside? ....weekly pivot and yesterday's hi being tested again now.
Trader with an Edge.
  • #528,378
  • Jun 16, 2020 9:42am Jun 16, 2020 9:42am
2600 last bulls until 2550/63
COT: The precious data ignored
  • #528,379
  • Jun 16, 2020 9:43am Jun 16, 2020 9:43am
Quoting Kimjoun
smaller tf resist at weekly pivot. bull trap? {image}
today close below weekly pivot we gonna have nice daily candle
  • #528,380
  • Jun 16, 2020 9:44am Jun 16, 2020 9:44am
Quoting Theoak
{quote} Get them charts on there bud! I have not got a clue how to read them... up.. up.. down. up.. down.. up...up.down.
here is a clue
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yes yes yes
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