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Cable Update (GBPUSD)

  • #542,981
  • Aug 18, 2020 2:01am Aug 18, 2020 2:01am
Quoting Georginson
Short 1.3163 target 1.3093... stop 1.3205 For me only.
Loads of interests in the BUY side for me (Long Term).. However, I have a feeling last week's low may be tested. I would prefer to wait if that will be the case..

So your short idea is not a bad one.. Good Luck G

StaySafe
  • #542,982
  • Aug 18, 2020 2:01am Aug 18, 2020 2:01am
Quoting Suj
Pound can drop fiercely now. Time will tell
yes , dx is defiantly going to fly from here
Attached Image (click to enlarge)
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yes yes yes
  • #542,983
  • Aug 18, 2020 2:02am Aug 18, 2020 2:02am
Quoting mesiforex
1.35 1.40 1.50 1.60 1.70 {image}
And someone thought I was crazy talking about 1.50

SS
  • #542,984
  • Aug 18, 2020 2:04am Aug 18, 2020 2:04am
Quoting JayBag
{quote} Loads of interests in the BUY side for me (Long Term).. However, I have a feeling last week's low may be tested. I would prefer to wait if that will be the case.. So your short idea is not a bad one.. Good Luck G StaySafe
Well said mate.
I have a medium and long term view of pound at 1.33 by September, 1.35 by October and 1.45 next year (2021) but I will prefer to buy around 1.29/1.28 levels for first target of 1.33/1.34 in September.
Data + Stat + Risk/Emotions Management
  • #542,985
  • Aug 18, 2020 2:06am Aug 18, 2020 2:06am
Quoting JayBag
{quote} And someone thought I was crazy talking about 1.50 SS
I just draw on emotion, I'm not sure. But according to the picture is probably going to 1.5 ..... or 1.6 .... or 1.7 or .....
  • #542,986
  • Aug 18, 2020 2:08am Aug 18, 2020 2:08am
Quoting Georginson
{quote} Well said mate. I have a medium and long term view of pound at 1.33 by September, 1.35 by October and 1.45 next year (2021) but I will prefer to buy around 1.29/1.28 levels for first target of 1.33/1.34 in September.
1.31700 sl 20 pips, im with you G 🖐
  • #542,987
  • Aug 18, 2020 2:09am Aug 18, 2020 2:09am
Quoting JayBag
{quote} Loads of interests in the BUY side for me (Long Term).. However, I have a feeling last week's low may be tested. I would prefer to wait if that will be the case.. So your short idea is not a bad one.. Good Luck G StaySafe
It appears the move UP is only beginning.
We just had a breakout from that tight range.
And EURGBP just took out last week's High and turned.

Cable strength may continue with the overall dollar weakness. I expect other Pound pairs to follow suit.

Cheers
  • #542,988
  • Aug 18, 2020 2:09am Aug 18, 2020 2:09am
Double top is possible for today
Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 47 KB
  • #542,989
  • Aug 18, 2020 2:13am Aug 18, 2020 2:13am
Quoting Gym4life
{quote} 1.31700 sl 20 pips, im with you G 🖐
I may be blind mate... I hope we are right.
Data + Stat + Risk/Emotions Management
  • #542,990
  • Aug 18, 2020 2:14am Aug 18, 2020 2:14am
77 pips so far - a retracement - yes, a drop - no.

Obv the dollar is really weak, but I don't realize what people consider as top? Top of what? 2.0160?

Dollar at the bottom? What bottom? 71.35?

C'mon guys - trade what you see, don't try to predict the market.
Patience and Discipline.
  • #542,991
  • Aug 18, 2020 2:18am Aug 18, 2020 2:18am
Quoting Stefan90csk
77 pips so far - a retracement - yes, a drop - no. Obv the dollar is really weak, but I don't realize what people consider as top? Top of what? 2.0160? Dollar at the bottom? What bottom? 71.35? C'mon guys - trade what you see, don't try to predict the market.
Extactly. Quick Profit made if you follow the trend not against it. IMO
Le$$ I$ More
  • #542,992
  • Aug 18, 2020 2:21am Aug 18, 2020 2:21am
Still holding to 1.32
Attached Image (click to enlarge)
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Patience.....
  • #542,993
  • Aug 18, 2020 2:23am Aug 18, 2020 2:23am
Quoting Moty
{quote} THIS is always what happens to me . i loss 2 take profits yesterday because i aimed to daily r1 and not the the channle ceiling , and today i shorted where it stopped many times , but this time it went way above daily r1 of yesterday 1.31400 , now i need to hope that dx will supported on the 92.500 {image} {image} {image}
not sure if this will help you or any others
when market moves side ways and is accumulating asses the underlying momentum and go with it
You can see on your chart ive simply marked the highs and lows in red and blue, the cellings are red and the blueare the floors. As you can see the ceilings are being broken and floors are getting higher being establish and maintained.
Go with this you will usually be on the right side of the market and it will prevent you trying to pick tops or bottoms unless your a pull back trader or countertrend IF you do countertrend id recommend only taking those types of trades at a session high or low.
Attached Image (click to enlarge)
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  • #542,994
  • Aug 18, 2020 2:26am Aug 18, 2020 2:26am
Quoting Siame
{quote} It appears the move UP is only beginning. We just had a breakout from that tight range. And EURGBP just took out last week's High and turned. Cable strength may continue with the overall dollar weakness. I expect other Pound pairs to follow suit. Cheers
I agree we are facing a solid Bullish wave and I can't do or say otherwise. IF this is the BO to ride higher without testing last week's LOW, then TODAY candle MUST close convincingly above 1.3118. But IF we close below 1.3118 today, then there's high chance of last week's LOW retest.

Note: For anyone who's lazy to read only the 'MUST' please acknowledge the big 'IF'
Pretty simple idea.
StaySafe
  • #542,995
  • Aug 18, 2020 2:27am Aug 18, 2020 2:27am
very very small amount in packet until now.

Not getting an entry after tokyo open to go long.

Early Asia.. was long though
Intraday only.
  • #542,996
  • Aug 18, 2020 2:31am Aug 18, 2020 2:31am
Quoting Neil0163
{quote} not sure if this will help you or any others when market moves side ways and is accumulating asses the underlying momentum and go with it You can see on your chart ive simply marked the highs and lows in red and blue, the cellings are red and the blueare the floors. As you can see the ceilings are being broken and floors are getting higher being establish and maintained. Go with this you will usually be on the right side of the market and it will prevent you trying to pick tops or bottoms unless your a pull back trader or countertrend IF...
Nice explanation, crystal clear, thanks.
  • #542,997
  • Aug 18, 2020 2:32am Aug 18, 2020 2:32am
Quoting Moty
{quote} THIS is always what happens to me . i loss 2 take profits yesterday because i aimed to daily r1 and not the the channle ceiling , and today i shorted where it stopped many times , but this time it went way above daily r1 of yesterday 1.31400 , now i need to hope that dx will supported on the 92.500 {image} {image} {image}

LOL Don't be upset, If you are entering using 30min~ 1 hours chart then it will take hours or day for that chart to develop, if you are entering a trade using 5~15min chart then it will take few hours to complete the cycle. Never blame the market . What happens to your trading style? you had a better trading style 6 months ago with weekly pivods, your chart looks very messy now..
  • #542,998
  • Aug 18, 2020 2:34am Aug 18, 2020 2:34am
A lot of confusion in the market with all pound pairs falling except for GU which seems boosted by dollar's weakness. I think I will wait for 1.3185-1.3200 levels on GU to be cleared before confidently longing. If it doesn't then I will go the opposite way. Just my opinion. What do you think guys?
  • #542,999
  • Aug 18, 2020 2:35am Aug 18, 2020 2:35am
break even in the making ?
dx have a lot of buyer at 92.5 , price should not pass there
Attached Image (click to enlarge)
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yes yes yes
  • #543,000
  • Aug 18, 2020 2:36am Aug 18, 2020 2:36am
1 pip didnt get filled by....
annoying
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