Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#542,041
Aug 11, 2020 10:50am Aug 11, 2020 10:50am

navk
Joined Oct 2010 | Status: Trader | 21,479 Posts

had few long positions around 3100/3105... added more long positions at the drop and closed all long positions with a small profit.

Not very much convinced of long or short.

Flat now.

Intraday only.

#542,042
Aug 11, 2020 11:01am Aug 11, 2020 11:01am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

Quoting navk

Disliked

had few long positions around 3100/3105... added more long positions at the drop and closed all long positions with a small profit. Not very much convinced of long or short. Flat now.

Ignored

this will determine

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yes yes yes

#542,043
Aug 11, 2020 11:15am Aug 11, 2020 11:15am

OxyGen_FX
| Joined Aug 2012 | Status: Trader | 524 Posts

Quoting OxyGen_FX

Disliked

Short GBPUSD. Although it went up together with the rest of the Majors, with 1.32 being a magnet, and GJ had just broke above bull flag, there seems to be no follow-thru. In fact, Majors all reverse the NY session gains.

Ignored

Closing half for +35 pips.
I had earlier closed shorts with losses as prices went up. Now, it has come back down.
Well, I guess it was the right thing to do back then, I must tell myself.
One never knows where the price will go.
GU is so close to 1.32 to signal bulls, and yet the upward converging triangle inspire some bearish confidence.
Have to be very careful at this point I guess.

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#542,044
Aug 11, 2020 11:19am Aug 11, 2020 11:19am

Wavegarrick
Joined Sep 2017 | Status: Trader | 4,360 Posts

Gu Is showing all signs of daily higher highs and higher lows this week and more importantly a higher low from last weeks low at 1.29784 ish, my weekly pivot at 1.30728 stands and price has not pierced below after London yet. Very deceptive price action today but overall I stay bullish.

Having said not easy trading right now will update
Cheers.

Trade to trade another day

#542,045
Aug 11, 2020 11:46am Aug 11, 2020 11:46am

morfes2
| Commercial User | Joined Jul 2015 | 383 Posts

Quoting morfes2

Disliked

{quote} https://youtu.be/khnCiznBlYw

Ignored

Inserted Video

#542,046
Aug 11, 2020 11:51am Aug 11, 2020 11:51am

mkvy
Joined Apr 2011 | Status: Trader | 2,433 Posts

I wonder... just maybe
That would be of make sense of the range... a channel expansion

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#542,047
Aug 11, 2020 11:59am Aug 11, 2020 11:59am

Georginson
Joined Aug 2018 | Status: Research Analyst | 4,290 Posts

Gold crash today means something. GBPUSD to follow, 160 pips daily range to the downside looms in one of the last 3 trading days of this week. Scalping buys will likely get burnt. Warning sign last week Friday.

Note. My candid view, strictly no obligation to follow.

Data + Stat + Risk/Emotions Management

#542,048
Aug 11, 2020 12:11pm Aug 11, 2020 12:11pm

ricmaj
Joined Jun 2011 | Status: Trader | 1,731 Posts

with support around 3030 and the establishment of a minor bull camp at 3084/64
a clear indication that bulls might be heading for higher prices.
the chances of 31960 still not overruled.

Keep the Lights on then you can catch the rise from the dark.

#542,049
Aug 11, 2020 12:37pm Aug 11, 2020 12:37pm

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

5 minor swings up on the hourly, very erratic, classic bulls trying to gain ground but also classic b wave an abc correction , im going to go heavy on the downside as soon as i get the signal

Follow The Markets Structure - Patience and Discipline

#542,050
Aug 11, 2020 12:37pm Aug 11, 2020 12:37pm

Wavegarrick
Joined Sep 2017 | Status: Trader | 4,360 Posts

Quoting Wavegarrick

Disliked

{quote} Hi Guys, I needed to take a step back today. With my prior post on the 28th of July, I remarked about possible Pound strength over the Euro. Are we perhaps seeing this materializing now? EurGbp has camped around this area for more than a week. Is it time for the Pound to decouple from the Euro? I got into a sell trade today With EG. I do believe that the Pound has much more room to move to the upside than the Euro. Having said the triangle break out also got me into buy trades on GbpUsd with my sell trails taken out with small profits and...

Ignored

Hi Guys,
Probably my perfect trade setup and Hey Ho with EurGbp.
Trade safe
Cheers

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