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Cable Update (GBPUSD)

  • #537,641
  • Jul 23, 2020 1:59am Jul 23, 2020 1:59am
Quoting epzero
DXY still crashing, i don't think there's hope for the dollar
The Yearly DXY low is 94.65 (March Crash) so DXY should spike back up after this. So GU still very Bullish unless DXY rebounds before this point. IMO
  • #537,642
  • Jul 23, 2020 2:00am Jul 23, 2020 2:00am
Trying long

Edit: closed +1
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  • #537,643
  • Jul 23, 2020 2:03am Jul 23, 2020 2:03am
Quoting tradebloke
{quote} The Yearly DXY low is 94.65 (March Crash) so DXY should spike back up after this. So GU still very Bullish unless DXY rebounds before this point. IMO
DXY currently at 94.77 only few pips so everyone is waiting
  • #537,644
  • Jul 23, 2020 2:10am Jul 23, 2020 2:10am
One more long.

Edit: closed +2
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  • #537,645
  • Jul 23, 2020 2:11am Jul 23, 2020 2:11am
Weekly trading ranges
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  • #537,646
  • Jul 23, 2020 2:11am Jul 23, 2020 2:11am
Quoting Theoak
{quote} After just looking at the chart. I've changed my target to 1.2800
Now that 5 min push down does not make any sense to me. I can only think it is to take longs out before push up. I've added to long at 1.2723.
Don't trade what you think. Just what you see!!!
  • #537,647
  • Jul 23, 2020 2:12am Jul 23, 2020 2:12am
Cleaning out weak longs.......
Lost....
  • #537,648
  • Jul 23, 2020 2:12am Jul 23, 2020 2:12am
Quoting Moty
false break in the making {image}
Don't do it Moty, the bulls has this...
Charts don't drive price, market conditions drive price...
  • #537,649
  • Jul 23, 2020 2:13am Jul 23, 2020 2:13am
just hit my trailed SL, earned +60pips...
  • #537,650
  • Jul 23, 2020 2:14am Jul 23, 2020 2:14am
Quoting Theoak
{quote} Now that 5 min push down does not make any sense to me. I can only think it is to take longs out before push up. I've added to long at 1.2723.
It's a regular pattern of behaviour on this pair.
Compulsions can be hard to resist
  • #537,651
  • Jul 23, 2020 2:15am Jul 23, 2020 2:15am
Quoting iqyu5an
No position on Cable till everything is clear at the top or bottom , don't care about : ) meanwhile holding long gbp/aud for fun and green ...
GBP/AUD Long? Nope, that pair is short.
Charts don't drive price, market conditions drive price...
  • #537,652
  • Jul 23, 2020 2:15am Jul 23, 2020 2:15am
1.27436 is a hard nut to crack.

if it does not happen soon there could be a reaction down.

i thought it would blast thru this morning
in wondering about yourself, you forgot what you came here to be part of
  • #537,653
  • Jul 23, 2020 2:15am Jul 23, 2020 2:15am
Quoting Theoak
{quote} Now that 5 min push down does not make any sense to me. I can only think it is to take longs out before push up. I've added to long at 1.2723.
Maybe some Sopp Hunter ?
  • #537,654
  • Jul 23, 2020 2:16am Jul 23, 2020 2:16am
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if you remember this chart I posted . It was a false pennant breakout so it told us it can break . So it goes down to the bottom again to find More buyers while the fake stopped traders out . So now it could go to 75% off that wick . And go down . Or 61.8ext then go down . And it could be fast not as long as it took to go up .. G I hope that’s a bit clear . Regards E
  • #537,655
  • Jul 23, 2020 2:17am Jul 23, 2020 2:17am
Quoting Theoak
{quote} Now that 5 min push down does not make any sense to me. I can only think it is to take longs out before push up. I've added to long at 1.2723.
...if it does continue up from there it will have cleared out a few weak longs and encouraged a few short for good measure lol ! 1hr below.
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Trader with an Edge.
  • #537,656
  • Jul 23, 2020 2:21am Jul 23, 2020 2:21am
Quoting Guztro
{quote} Don't do it Moty, the bulls has this...
no , it's bears turn
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yes yes yes
  • #537,657
  • Jul 23, 2020 2:23am Jul 23, 2020 2:23am
Quoting Headland
{quote} ...or vice-versa...and we see it here and in other threads in for eg a strong uptrend, so many just talk about shorting and indeed enter short (s) - even averaging in as price continues higher....if they put even 1/2 as much effort into finding a hi-probability entry to get long they'd likely do ok. In respect of your point - I wonder too whether psychologically it has something to do with the fact that when trending price is always near the top or bottom of a screen lol - ie there is a physical but imaginary obstacle to more up/downside...
This is a wonderful piece, you have said it all
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #537,658
  • Jul 23, 2020 2:25am Jul 23, 2020 2:25am
Quoting trumps
{quote} It's a regular pattern of behaviour on this pair.
Well it might be, but I don't like it. I'm long with a target now of 110 pips and stop loss of 45 pips.
Don't trade what you think. Just what you see!!!
  • #537,659
  • Jul 23, 2020 2:30am Jul 23, 2020 2:30am
waiting...
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  • #537,660
  • Jul 23, 2020 2:31am Jul 23, 2020 2:31am
bearish engulfing h4 candle
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yes yes yes
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