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Cable Update (GBPUSD)

  • #530,121
  • Jun 23, 2020 12:31am Jun 23, 2020 12:31am
Quoting joesherwood
Good morning all
Good morning Joe, good luck trading today!
  • #530,122
  • Jun 23, 2020 12:41am Jun 23, 2020 12:41am
cable will target area between 1.2120 to 1.2190

down move can start from now

and worst case it will be delayed until the end of today with a sideway movement or slight up move

but the main thing is buying is big big risk and selling is the safe thing to do
  • #530,123
  • Jun 23, 2020 12:44am Jun 23, 2020 12:44am
Quoting msniper
cable will target area between 1.2120 to 1.2190 down move can start from now and worst case it will be delayed until the end of today with a sideway movement or slight up move but the main thing is buying is big big risk and selling is the safe thing to do
Agreed daily pivot is the big support though. If we fail to break it this time then we'll see a double bottom and could see some significant upmove. That's my newbie insight anyway.

Edit: Thats weekly pivot gone.
  • #530,124
  • Jun 23, 2020 12:44am Jun 23, 2020 12:44am
I will not sell until this trendline breaks with at least a proper 4hr candle. Trying to sell yesterday was not profitable and that daily candle was a big bully, even though the volume was small. Maybe tomorrow is the sell day. My thoughts below:
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  • #530,125
  • Jun 23, 2020 12:45am Jun 23, 2020 12:45am
Quoting msniper
cable will target area between 1.2120 to 1.2190 down move can start from now and worst case it will be delayed until the end of today with a sideway movement or slight up move but the main thing is buying is big big risk and selling is the safe thing to do
Daily candle reversed, so I see no reason for a big drop today. There is plenty of room to go up. Thursday-friday might be selling days, depends on the chart setup. Scalps sure, but other than that, better to wait. 2260 will come, but better to be short from above 2600 than from below 2500.
Everyone can see the chart, but only a few can actually read it.
  • #530,126
  • Jun 23, 2020 12:47am Jun 23, 2020 12:47am
Quoting Mitiblotch
I will not sell until this trendline breaks with at least a proper 4hr candle. Trying to sell yesterday was not profitable and that daily candle was a big bully, even though the volume was small.Maybe tomorrow is the sell day. My thoughts below: {image}
of course the area u pointed is the safest area to go short with no drawdown but i cannot trust gbp maybe they fall before reaching the safe sell zone
  • #530,127
  • Jun 23, 2020 12:48am Jun 23, 2020 12:48am
Quoting OnlineAddict
{quote} Daily candle reversed, so I see no reason for a big drop today. There is plenty of room to go up. Thursday-friday might be selling days, depends on the chart setup. Scalps sure, but other than that, better to wait. 2260 will come, but better to be short from above 2600 than from below 2500.
GBPs will go down at least 2 to 3 days which mean i will keep my trade open until friday close no need to hurry

if they go up i will add more
  • #530,128
  • Jun 23, 2020 12:53am Jun 23, 2020 12:53am
Short closed for +20 pips will see how it reacts to daily pivot.
  • #530,129
  • Jun 23, 2020 12:53am Jun 23, 2020 12:53am
Morning all. Stay safe and green today
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  • #530,130
  • Jun 23, 2020 12:56am Jun 23, 2020 12:56am
Quoting msniper
{quote} GBPs will go down at least 2 to 3 days which mean i will keep my trade open until friday close no need to hurry if they go up i will add more
same same.
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #530,131
  • Jun 23, 2020 12:57am Jun 23, 2020 12:57am
Prices are held up at Pervious weekly Open (2511) if by next 4hr closes bearish, then i think the bears are good. But if 2511 is broken after London session then expect 2533.
Note: The Market has already done 70-80% of its WEEKLY RAGE.
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Le$$ I$ More
  • #530,132
  • Jun 23, 2020 1:01am Jun 23, 2020 1:01am
Quoting OnlineAddict
{quote} Daily candle reversed, so I see no reason for a big drop today. There is plenty of room to go up. Thursday-friday might be selling days, depends on the chart setup. Scalps sure, but other than that, better to wait. 2260 will come, but better to be short from above 2600 than from below 2500.
Two weeks ago it had 130 pips move above the opening price before a crash of 200 pips below the weekly open, last week it had 174 pips move above the weekly open before crashing below the weekly open by 174 pips... Here we go again this week with current 160 pips move above the weekly open. Price attaining 1.25 level is necessary to Gather fresh selling momentum to break 1.2333 weekly low to 1.2280 level. This bull run should end anywhere 1.2510/1.2565 region before an imminent crash to 1.2310/1.2280 levels. So a sell from 1.2510/1.2535 level will be smart and timely considering the weekly range would have spaced by 200 pips which means 65% of weekly risk would have been avoided.

Peace.
Data + Stat + Risk/Emotions Management
  • #530,133
  • Edited 1:21am Jun 23, 2020 1:04am | Edited 1:21am
I took a SHORT at 1.24670 as price remained below Previous Day's High.

*corrected
  • #530,134
  • Jun 23, 2020 1:04am Jun 23, 2020 1:04am
4hr support is needed.

Probably when 5 AM candle opens
Intraday only.
  • #530,135
  • Jun 23, 2020 1:08am Jun 23, 2020 1:08am
dxy 15 mins
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PATIENCE AND DISCIPLINE!
  • #530,136
  • Jun 23, 2020 1:08am Jun 23, 2020 1:08am
if USD index gives Bullish sign It will be perfect to short GBP.
  • #530,137
  • Jun 23, 2020 1:08am Jun 23, 2020 1:08am
Quoting Siame
I took a SHORT at 1.24670 as price remained below Previous Day's low.
Yesterday's low was around 234x area or slightly below. So how is price below it?
  • #530,138
  • Jun 23, 2020 1:11am Jun 23, 2020 1:11am
Quoting Georginson
{quote} Two weeks ago it had 130 pips move above the opening price before a crash of 200 pips below the weekly open, last week it had 174 pips move above the weekly open before crashing below the weekly open by 174 pips... Here we go again this week with current 160 pips move above the weekly open. Price attaining 1.25 level is necessary to Gather fresh selling momentum to break 1.2333 weekly low to 1.2280 level. This bull run should end anywhere 1.2510/1.2565 region before an imminent crash to 1.2310/1.2280 levels. So a sell from 1.2510/1.2535...
You are hitting it hard bro. Such hard facts and statistics is the best way to trade this pair. Hush... before the criminal movers hear you and change it. Lol... I would want to see 2560 area or slightly less to enter a short.
  • #530,139
  • Jun 23, 2020 1:16am Jun 23, 2020 1:16am
usd is strong and gbp is weak
  • #530,140
  • Jun 23, 2020 1:19am Jun 23, 2020 1:19am
Quoting Mitiblotch
{quote} Yesterday's low was around 234x area or slightly below. So how is price below it?
Thank you for noting the error.

Previous Day's High, my mistake.

Cheers
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