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Cable Update (GBPUSD)

  • #533,761
  • Jul 8, 2020 3:13am Jul 8, 2020 3:13am
Hopefully we are not done rising. Expecting another push higher before NY open

Stop loss still @ 1.2491
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  • #533,762
  • Jul 8, 2020 3:17am Jul 8, 2020 3:17am
Uk chancellor - The boy wonder Sunak may say something to please the £ buyers later ? (or not if he disappoints) but will we get the customary shake out of the weak hands before a possible rise - trapping some short for good measure ?
Trader with an Edge.
  • #533,763
  • Jul 8, 2020 3:17am Jul 8, 2020 3:17am
Some more Gatrleys.

Aiming for daily S1 for now. 1.24730
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Patience and Discipline.
  • #533,764
  • Jul 8, 2020 3:22am Jul 8, 2020 3:22am
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yes yes yes
  • #533,765
  • Jul 8, 2020 3:22am Jul 8, 2020 3:22am
OMG!

Looks about to crash! But do you believe it?

I think LDN and NY session will be two different faces today, one bull, the other bear
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  • #533,766
  • Jul 8, 2020 3:30am Jul 8, 2020 3:30am
Quoting tehnoob
OMG! Looks about to crash! But do you believe it? I think LDN and NY session will be two different faces today, one bull, the other bear {image}
Not yet. Magic will begin near NY session. Bulls are waiting on sidelines to show their true power later IMHO.

TW
WARNING: This post warps space and time in its vicinity.
  • #533,767
  • Jul 8, 2020 3:31am Jul 8, 2020 3:31am
Quoting tehnoob
OMG! Looks about to crash! But do you believe it? I think LDN and NY session will be two different faces today, one bull, the other bear {image}
I'd tell the puffer to protect its meals.......IMO, this may rebound later after this correction around 1.2490 - 1.250, so we'll have to watch what the PA will be at these levels.
Lost....
  • #533,768
  • Jul 8, 2020 3:36am Jul 8, 2020 3:36am
Quoting tehnoob
OMG! Looks about to crash! But do you believe it? I think LDN and NY session will be two different faces today, one bull, the other bear {image}
this is still abc corrective move
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yes yes yes
  • #533,769
  • Jul 8, 2020 3:36am Jul 8, 2020 3:36am
Quoting gespiri
{quote} I'd tell the puffer to protect its meals.......IMO, this may rebound later after this correction around 1.2490 - 1.250, so we'll have to watch what the PA will be at these levels.
Can't agree more.
WARNING: This post warps space and time in its vicinity.
  • #533,770
  • Jul 8, 2020 3:41am Jul 8, 2020 3:41am
Quoting gespiri
{quote} I'd tell the puffer to protect its meals.......IMO, this may rebound later after this correction around 1.2490 - 1.250, so we'll have to watch what the PA will be at these levels.
Once it breaks the DPP at 1.25315 (coincidentally at the 50% fib level), this will go down to my TP of 1.2497.
From there, I'll wait and see......
Lost....
  • #533,771
  • Jul 8, 2020 3:43am Jul 8, 2020 3:43am
watching gold as signal ( as already reaches the crazy target 1800 , ok 1830 still present though ) for all perhaps , breaks 1795 , conformation 1791 as just start any big failure soon.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #533,772
  • Jul 8, 2020 3:47am Jul 8, 2020 3:47am
Quoting Moty
{quote} this is still abc corrective move {image}
after c done, it not certain at all that it keep the trend for another 1-5.
the price tested the pivot and fly almost 20 pips high and back down again, so it feels like the bears are on a mission.
15m candle below the pivot and the pic is clear to me.. s1
  • #533,773
  • Jul 8, 2020 3:52am Jul 8, 2020 3:52am
Having a second look at the correlation between currencies and commodities (mostly copper), there could be a good drop coming.

Copper producers are going very shorts, while money managers (dumb money here) is going very long on top.

It could mean a rise in USD overall....watch out
COT: The precious data ignored
  • #533,774
  • Jul 8, 2020 3:54am Jul 8, 2020 3:54am
I have just closed my 2 shorts from which I posted last night. +7%! No more trading for the day now. Used bugger lots as cable always has some sort of a reaction after momentum like that.
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  • #533,775
  • Jul 8, 2020 3:54am Jul 8, 2020 3:54am
Pound is going to 1.24, then prob will bounce around between 1.25 and 1.23 before deciding where to go next..
I'm looking for continuation higher towards 1.3
69
  • #533,776
  • Jul 8, 2020 3:54am Jul 8, 2020 3:54am
Quoting Moty
{quote} this is still abc corrective move {image}
Could be.....I see a couple of scenarios.
1) Daily - we could be in the middle of wave C up which end at 1.2695
2) 1/4 hr - looks like a wave C down to 1.2497
Just my obs.....we'll see how it reacts to the below targets.
Lost....
  • #533,777
  • Jul 8, 2020 3:56am Jul 8, 2020 3:56am
1.2510 technically it's a place to long

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  • #533,778
  • Jul 8, 2020 3:57am Jul 8, 2020 3:57am
...@ the 50% of y/day's rise....2515-11 a 4 fib cluster.
Trader with an Edge.
  • #533,779
  • Jul 8, 2020 3:57am Jul 8, 2020 3:57am
Quoting Likerty
Pound is going to 1.24, then prob will bounce around between 1.25 and 1.23 before deciding where to go next.. I'm looking for continuation higher towards 1.3
Generally, yes,.....but I'm worried about today and tomorrow.
I see it trying to snap back to 1.2634.....we'll see.
Lost....
  • #533,780
  • Jul 8, 2020 4:02am Jul 8, 2020 4:02am
Looks like heading to 1.25.
Bullish PA from there would be indicative of 1.26 imo.
But I'm already short from 2590.
Compulsions can be hard to resist
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