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Cable Update (GBPUSD)

  • #533,781
  • Jul 8, 2020 4:06am Jul 8, 2020 4:06am
...last 1hr was a bearish close....landing at that 50% of y/day's rise. 1hr below.
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Trader with an Edge.
  • #533,782
  • Jul 8, 2020 4:06am Jul 8, 2020 4:06am
up up and away we go from here
comformation , a break of last hourly high 1.25502
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yes yes yes
  • #533,783
  • Jul 8, 2020 4:08am Jul 8, 2020 4:08am
Morning All,

Took a small short this morning to the 50% fib (apols after fact); however, plan now is to wait until break down of 50% level or back up above 23%. Rgds, Angus
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  • #533,784
  • Jul 8, 2020 4:08am Jul 8, 2020 4:08am
80% correlation on a weekly basis over the last 4 years

Watch out of the commodities traders....

Attached Image
COT: The precious data ignored
  • #533,785
  • Jul 8, 2020 4:11am Jul 8, 2020 4:11am
...not fully formed and may never do (on my osc settings) but likely to if price drops lower - possible 1hr bullish hidden div devloping...needs to stay above y/day's lo to be valid though....we'll see - caution though it would do so at a L on 4hr uptrend - ie the trend it may signal an entry after pullback into ...always better @ a HL on the trend t/f you are entering a trend on after the pullback.
Trader with an Edge.
  • #533,786
  • Jul 8, 2020 4:14am Jul 8, 2020 4:14am
Quoting Moty
up up and away we go from here comformation , a break of last hourly high 1.25502 {image}
Quoting Moty
i will cut my losses at the grey area , or trail stop last 15 m candle high . yesterday i earned 91 $ and now i am at 88 $loss , tomorrow it's a new day , i want to leave some equity to work with {image}
Quoting OnlineAddict
{quote} Just don't start buying in the grey area right away, wait it out a bit...it might keep dropping.
Man, you bought even higher than the grey area was...even though all signs were saying it is topping there. You need to be more patient and not switch between longs and shorts all the time. And the martingale doesn't help either.
Everyone can see the chart, but only a few can actually read it.
  • #533,787
  • Jul 8, 2020 4:18am Jul 8, 2020 4:18am
Quoting adc
Morning All, Took a small short this morning to the 50% fib (apols after fact); however, plan now is to wait until break down of 50% level or back up above 23%. Rgds, Angus {image}
Quicker than I expected. Short 1.2520 just below 200 EMA on 5m, DP and 50% fib. SL -20 pips, TP 1.2480. Rgds, Angus
  • #533,788
  • Jul 8, 2020 4:19am Jul 8, 2020 4:19am
Short in at 1.2526 target 20 pips ish sl on chart
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Don't trade what you think. Just what you see!!!
  • #533,789
  • Jul 8, 2020 4:19am Jul 8, 2020 4:19am
Please consider taking a look at my Weekly Market Update.
I provide trading ideas with potential stops and targets.

DXY starts at 0:03.
GBP/USD starts at 12:45.

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

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  • #533,790
  • Jul 8, 2020 4:20am Jul 8, 2020 4:20am
Quoting OnlineAddict
{quote} I am seing a topping setup...down from here. 2500 and then we will see what happens...
We are close to 2500 now...so lets see if we bounce up from here again...
Everyone can see the chart, but only a few can actually read it.
  • #533,791
  • Jul 8, 2020 4:24am Jul 8, 2020 4:24am
Here you going up
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  • #533,792
  • Jul 8, 2020 4:24am Jul 8, 2020 4:24am
sell at 2513, sl at 2500
first trade of the day
  • #533,793
  • Jul 8, 2020 4:24am Jul 8, 2020 4:24am
Quoting joesherwood
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. {image}
of course we see movement as soon as I exit positions lol, could of made another 40 pips!!!
this forex game man haha
  • #533,794
  • Jul 8, 2020 4:24am Jul 8, 2020 4:24am
Quoting khalid33
shorted G$ 1.2570 ---- stop 1.2670 -------- target 1.17
i added short 1.2516
  • #533,795
  • Jul 8, 2020 4:24am Jul 8, 2020 4:24am
Quoting cmk
Where is NOT-KPMG?
He mocked and criticised Georginson for buying the Pound last week around 1.23.

Then he disappeared, promising not to come back for a long time because there are so many dumb people in Forex Factory.
Compulsions can be hard to resist
  • #533,796
  • Jul 8, 2020 4:25am Jul 8, 2020 4:25am
....previously mentioned 4 fib cluster at the current daily lo...below here and next one a 3 cluster this time....2503-24492 should price test deeper.
Trader with an Edge.
  • #533,797
  • Jul 8, 2020 4:27am Jul 8, 2020 4:27am
Quoting joesherwood
{quote} of course we see movement as soon as I exit positions lol, could of made another 40 pips!!! this forex game man haha

We all doubtless have a file full of 'shoulda woulda coulda' trades lol !
Trader with an Edge.
  • #533,798
  • Jul 8, 2020 4:27am Jul 8, 2020 4:27am
Potential move to 2405/2420 today

Equity topish, oil topish, copper topish....favoring USD rise
COT: The precious data ignored
  • #533,799
  • Jul 8, 2020 4:28am Jul 8, 2020 4:28am
i bought GU now again 1.2509 my SL either 1.2435 or 4h candle close below 1.2500 if i want to be strict

target new high

i dont see it going below 1.2480 today
Attached Image
  • #533,800
  • Jul 8, 2020 4:33am Jul 8, 2020 4:33am
Quoting trumps
{quote} He mocked and criticised Georginson for buying the Pound last week around 1.23. Then he disappeared, promising not to come back for a long time because there are so many dumb people in Forex Factory.
You have got a great memory
Data + Stat + Risk/Emotions Management
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