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Cable Update (GBPUSD)

  • #529,721
  • Jun 21, 2020 12:24pm Jun 21, 2020 12:24pm
I've deleted my posts from a respect point of view.

Impact of Negative news on the correlated pair.

In this example the pair is EUR/USD

Please find attached
https://www.investoo.com/wp-content/...t-13.55.23.png
Don't trade what you think. Just what you see!!!
  • #529,722
  • Jun 21, 2020 12:32pm Jun 21, 2020 12:32pm
At least you are looking for stuff Theo
good luck
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #529,723
  • Jun 21, 2020 12:47pm Jun 21, 2020 12:47pm
Quoting SFundamental
At least you are looking for stuff Theo good luck
This is not looking at stuff. This is basic economics. I've put this simple flow chart on for the forum's members perusal.
Attached Image (click to enlarge)
Click to Enlarge Name: Annotation 2020-06-21 184542.png Size: 87 KB
Don't trade what you think. Just what you see!!!
  • #529,724
  • Jun 21, 2020 12:54pm Jun 21, 2020 12:54pm
Quoting Sunriser
{quote} Do you think this will drop further?
yes .. it will depend on many factors to be observant during that week.
  • #529,725
  • Edited 1:42pm Jun 21, 2020 12:59pm | Edited 1:42pm
Quoting Georginson
{quote} This June price action is identical to June 2013 price action, in fact this year 2020 price action in terms of behaviour is so similar to year 2013 as a whole. I remember when price was trading at 1.2770/1.2800 region I did state many times that price will return to at least 1.2310 this June and is now on the verge of being attacked. Now here are major similarities between year 2013 and year 2020 * 2013 opened at 1.6321 and touched a high of 1.6338 between January to October it only moved above the year opening by 17 pips, then it slide...

Great research my friend.
Yes it will be worth more than 1.60 someday ... but it could have a big drop even before, it will depend on the stock market.
I have to wait if the big drop has already occurred,
Usually a pair follows its cycle when many traders have already given up on it..And the price tires them all. most of the time.
  • #529,726
  • Jun 21, 2020 2:59pm Jun 21, 2020 2:59pm
Quoting OnlineAddict
{quote} We can only wait and see...but I see GU as an easy long early tomorrow. No matter what happens anywhere...
Hi schmoo

You said you're selling for 1.20 a day ago....

1.45 is coming too!????

Keep your lies straight OK???
Beware of robber banks (RB), bad advisors.
  • #529,727
  • Jun 21, 2020 3:02pm Jun 21, 2020 3:02pm
... And that's why I'm sick of this thread and the 85% dilbos I find in it.

That dumbo on Saturday....
No moron, I didn't GO LONG.
Yes, moron, I can hedge 12 shorts with 1-2 longs.

Yes dumbos, I can enter small lots WITHOUT telling street hookers the details.

No, I won't post my ideas any flicking more. I'm tired of helping or explaining stuff to schmucks, and not ONE thank you.

Pathetic.
Beware of robber banks (RB), bad advisors.
  • #529,728
  • Jun 21, 2020 3:14pm Jun 21, 2020 3:14pm
Quoting OnlineAddict
{quote} Your first chart gave me an idea. Since we know GU's one-way friday move is a trap more often than not...so 2550-2650 first, then 2260. {image}
That lower line is broke.
Maybe up to 1.25-(spike 2550) for retest of support area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 27 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 26 KB
Compulsions can be hard to resist
  • #529,729
  • Jun 21, 2020 3:32pm Jun 21, 2020 3:32pm
Here's my take on the GBPUSD, from a top-down technical perspective of a swing trader. Technicals on the weekly time frame favour bears. However, market operation is at a horizontal support around the 1.23450 area, and we should watch how the area is handled by price action in the early part of this week. On the H4 time frame, technicals and recent order flow context favour bears. After price action broke down a rising trendline (magenta) traceable to May 25, 2020, there was a 61.8 Fib retracement of the downward swing from 1.28130 to 1.24550; this was followed by a bearish continuation. I am more bearish than bullish GBPUSD.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly_June 21, 2020.png Size: 51 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4_June 21, 2020.png Size: 52 KB
Do your homework, follow the footprints of smart money
  • #529,730
  • Jun 21, 2020 3:34pm Jun 21, 2020 3:34pm
Quoting trumps
{quote} That lower line is broke. Maybe up to 1.25-(spike 2550) for retest of support area. {image} {image}
Sounds very prescient. They are gonna fool the masses the first 3 days of the market this week. After they screw over the GBP shorts then they go long USD on TUE.
Be humble or be humbled.
  • #529,731
  • Jun 21, 2020 3:35pm Jun 21, 2020 3:35pm
Quoting Temujin
{quote} Sounds very prescient. They are gonna fool the masses the first 3 days of the market this week. After they screw over the GBP shorts then they go long USD on TUE.
Did you mean THU?
Everyone can see the chart, but only a few can actually read it.
  • #529,732
  • Jun 21, 2020 3:38pm Jun 21, 2020 3:38pm
Quoting OnlineAddict
{quote} Did you mean THU?
Sorry in the U.S. I count Sunday evening as day 1.
Mitsubishi put out a play targeting 1.21 this week. Yeah 1.25 1st.
Be humble or be humbled.
  • #529,733
  • Jun 21, 2020 3:47pm Jun 21, 2020 3:47pm
Quoting Temujin
{quote} Sorry in the U.S. I count Sunday evening as day 1. Mitsubishi put out a play targeting 1.21 this week. Yeah 1.25 1st.
may I ask where you read this?
  • #529,734
  • Jun 21, 2020 3:50pm Jun 21, 2020 3:50pm
Weekly Market Update is ready check it out

DXY starts at 0:03,
GBP/USD starts at 12:00.

I upload weekly analysis every Sunday and daily analysis from TUE to FRI.

Inserted Video
  • #529,735
  • Jun 21, 2020 4:08pm Jun 21, 2020 4:08pm
1.24000 is my target. Market gapped down at open which I was hoping. After spreads stabilize I’ll be looking for an entry depending on how the current & next 1hr bar trade
  • #529,736
  • Edited 9:27pm Jun 21, 2020 4:13pm | Edited 9:27pm
Quoting OnlineAddict
{quote} Your first chart gave me an idea. Since we know GU's one-way friday move is a trap more often than not...so 2550-2650 first, then 2260. {image}
Won't be surprised if it goes your way. Won't also be surprised if it goes down first before popping up. What matters is for us to buy when it shoots up and also sell when it tanks
  • #529,737
  • Edited 4:34pm Jun 21, 2020 4:22pm | Edited 4:34pm
Bought at 1.2350, lets hope the Japenese are kind to the pound while I'm off to sleep.
  • #529,738
  • Jun 21, 2020 4:24pm Jun 21, 2020 4:24pm
Just closed my sell trade, 200 pips is acceptable
I just got a funny feeling its going to start going up.. Im not trading on that gut feeling. I want to see a big push up before jumping on it..
  • #529,739
  • Jun 21, 2020 4:32pm Jun 21, 2020 4:32pm
Quoting Scotteyy
Bought at 1.2350, lets hope the Japs are kind to the pound while I'm off to sleep.
Wrong word .
  • #529,740
  • Jun 21, 2020 4:36pm Jun 21, 2020 4:36pm
Quoting elbert3
{quote} Wrong word .
My bad, didn't realise that was offensive.
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