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Cable Update (GBPUSD)

  • #543,441
  • Aug 19, 2020 6:46pm Aug 19, 2020 6:46pm
Good morning to traders monitoring the Asia hours.
Yesterday was really dramatic.
Majors broke above to new highs but no follow-thru, then FOMC sank all of them with its pessimism.

The fall is too sharp. Very hard to trade.
Better to see what Asia traders make of this.
Or trade something else other than Majors.
  • #543,442
  • Aug 19, 2020 6:58pm Aug 19, 2020 6:58pm
Buy rumor ... sell the fact
not euphoria follower
  • #543,443
  • Aug 19, 2020 7:17pm Aug 19, 2020 7:17pm
Quoting iqyu5an
Buy rumor ... sell the fact
I always thought the above quote is for stocks only.
As forex works as a pair, sell GBP means GBPUSD down, sell USD means GBPUSD up.
And I can't really tell which is the rumor, which is the fact and which currency to buy or sell !
  • #543,444
  • Aug 19, 2020 7:24pm Aug 19, 2020 7:24pm
I see further downside from here, 1.287 could be on the cards
  • #543,445
  • Aug 19, 2020 7:41pm Aug 19, 2020 7:41pm
Quoting OxyGen_FX
{quote} But in this era of "near zero", "zero"and some even "negative" rates, will Carry Trade still matters? I am starting to doubt. Most Central Banks have committed to "low rates for prolonged periods".
It was more to generate conversation on interest rates rather the merits of carry
Interest rates are important in fx as is risk..a change of interest rate bias by a central bank is probably my number one trade...
Perhaps this is not the forum or thread for this topic
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #543,446
  • Aug 19, 2020 7:44pm Aug 19, 2020 7:44pm
Quoting OxyGen_FX
{quote} I always thought the above quote is for stocks only. As forex works as a pair, sell GBP means GBPUSD down, sell USD means GBPUSD up. And I can't really tell which is the rumor, which is the fact and which currency to buy or sell !
Buy the rumour sell the fact - does apply to fx.
I was long gold in the days leading up to Trump's speech on China.
Then it was an easy sell off particularly when he was not going to do anything

There was also the UK election- when it was obvious that the conservatives were going to win- that was a great sell the news trade.
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #543,447
  • Aug 19, 2020 8:01pm Aug 19, 2020 8:01pm
Quoting SFundamental
{quote} It was more to generate conversation on interest rates rather the merits of carry Interest rates are important in fx as is risk..a change of interest rate bias by a central bank is probably my number one trade... Perhaps this is not the forum or thread for this topic
My comments is also just to generate conversation as well.
Thanks for the explanation for the "Buy rumor sell fact"quote.
  • #543,448
  • Aug 19, 2020 8:11pm Aug 19, 2020 8:11pm
Quoting Moty
damm that dx and his 92.500 , it support him in the end , and f*cked me twice {image} {image} {image}
take a rest. ur mind and body need it.
row row row your boat
  • #543,449
  • Aug 19, 2020 8:15pm Aug 19, 2020 8:15pm
Attached Image (click to enlarge)
Click to Enlarge Name: 00.png Size: 85 KB
  • #543,450
  • Aug 19, 2020 8:17pm Aug 19, 2020 8:17pm
asian session not to fast not to slow ( do not try to beat the number, always let it go ) it will come back to us ( gold up and down 200pips in mid top )

holy shit asian cant handle dollars....2 bad asian
  • #543,451
  • Aug 19, 2020 8:31pm Aug 19, 2020 8:31pm
Goodby Pound, see you next month
Compulsions can be hard to resist
  • #543,452
  • Aug 19, 2020 8:39pm Aug 19, 2020 8:39pm
Quoting navk
When GU was making top in Asia, some here were talking..bears will learn lesson. If 3260 was shorted, 85 pips today. Anyways, no one is guru..and just follow the PA instead of predicting. IMO
this is my yesterday post.
Try to read. this

ha..ha..
Intraday only.
  • #543,453
  • Aug 19, 2020 9:04pm Aug 19, 2020 9:04pm
Quoting BWilliam
{quote} Remember I posted this pic this weekend showing the bolded line of the 1.3250 Yearly Open Line with the comment that last week ended with 8pips gain. Nobody cares so I deleted the post. {image}
So ???
not euphoria follower
  • #543,454
  • Aug 19, 2020 9:10pm Aug 19, 2020 9:10pm
gold 1st buy position open, careful ( 1hrs chart )
  • #543,455
  • Aug 19, 2020 9:16pm Aug 19, 2020 9:16pm
Attachment gAttachment g
yes yes yes
  • #543,456
  • Aug 19, 2020 10:26pm Aug 19, 2020 10:26pm
=) gold doing well (140pips max for upper block, 120pip for low block) asian session out of money
  • #543,457
  • Aug 19, 2020 11:15pm Aug 19, 2020 11:15pm
bad gold overload system overload ( soon 2 destroy itself )
  • #543,458
  • Aug 19, 2020 11:42pm Aug 19, 2020 11:42pm
almost 24:00, time 2 goto bed ( cya at 6 in the morning all ) gold is almost over now
  • #543,459
  • Aug 20, 2020 12:16am Aug 20, 2020 12:16am
Quoting OxyGen_FX
{quote} I always thought the above quote is for stocks only. As forex works as a pair, sell GBP means GBPUSD down, sell USD means GBPUSD up. And I can't really tell which is the rumor, which is the fact and which currency to buy or sell !
An example of this could be just before European markets open up there's rumors of a binding and mutually beneficial brexit deal with all the UK and EU members struting around with beaming expressions.
BANG..... Euro and Pound rally hard up 150 pips
2 hours later it's announced that there are still lingering issues that need addressing with no clear timeframe to sort these out.
BOOM..... Euro and Pound plummet because actual fundamentals were showing a dollar positive day with stocks sold off
Don't Leave Money on the Table
  • #543,460
  • Aug 20, 2020 12:19am Aug 20, 2020 12:19am
Quoting nessus94
{quote} Short 1,3235 target 1,2802
I am still holding it
target is not changing
Make money by doing the opposite of Giveachance aka loser
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