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Cable Update (GBPUSD)

  • #543,781
  • Aug 20, 2020 2:45pm Aug 20, 2020 2:45pm
Quoting nessus94
{quote} It is bullish
I think so.
Compulsions can be hard to resist
  • #543,782
  • Aug 20, 2020 2:56pm Aug 20, 2020 2:56pm
Quoting Siame
{quote} The Unexpected happened today. Unless we have a reversal back down, I have no reason to go against this trend this week. 1.33000 next plan
The unexpected? I don't think so unless you were not paying attention to the massive uptrend since July. "Buy the dips in an uptrend" sounds simple, right? But when it dips everyone forgets and shorts the damn thing.
  • #543,783
  • Aug 20, 2020 3:04pm Aug 20, 2020 3:04pm
Quoting shahab8b
{quote} The unexpected? I don't think so unless you were not paying attention to the massive uptrend since July. "Buy the dips in an uptrend" sounds simple, right? But when it dips everyone forgets and shorts the damn thing.
I think it was yesterdays long bearish and shaven bottom candle that caught some of us swing traders off guard, looking for a decent retrace worth trading.
Compulsions can be hard to resist
  • #543,784
  • Aug 20, 2020 3:09pm Aug 20, 2020 3:09pm
Quoting trumps
{quote} I think it was yesterdays long bearish and shaven bottom candle that caught some of us swing traders off guard, looking for a decent retrace worth trading.
That's why I posted that daily chart with intact S and TL earlier today. To show the bigger picture. That being said, it might have another leg down from here. At this moment, weekly chart looks very bullish. Lets see how it closes tomorrow.
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  • #543,785
  • Aug 20, 2020 3:11pm Aug 20, 2020 3:11pm
Quoting krst8
If this closes about this level it will be a “mean joke”. Three candles, almost engulfing each other at the daily level 3 days in a row {image}
I see a strong bearish divergence with rsi on daily timeframe, it's over for today but not for tomorrow/ next week I guess
Twitter: Rummer_grapes
  • #543,786
  • Aug 20, 2020 3:12pm Aug 20, 2020 3:12pm
Quoting shahab8b
{quote} The unexpected? I don't think so unless you were not paying attention to the massive uptrend since July. "Buy the dips in an uptrend" sounds simple, right? But when it dips everyone forgets and shorts the damn thing.
...easy said so...if someone remembers uk election last year.. we fell pretty long from the top... so yeah easier said than done..

in my view there are many strong positions now long. They already earn some hefty amounts of money, any indication of a reversal they are going to kill it and everyone will buy the dip again ;-)

but for sure some firms are making big money on gbp last years, GBP move without any sense since long. Now i do admit that i dont have the skills to trade gbp, but it is pure manipulation and most likely collaboration. People tends to forget that several time last year firms has been caught in the open with insider information in news and economic releases etc.. so yeah, great place for retail to loose money as everyone is hunting this high volatility..
  • #543,787
  • Aug 20, 2020 3:15pm Aug 20, 2020 3:15pm
Quoting shahab8b
{quote} That's why I posted that daily chart with intact S and TL earlier today. To show the bigger picture. That being said, it might have another leg down from here. At this moment, weekly chart looks very bullish. Lets see how it closes tomorrow. {image}
Yep, I find when the daily doesn't make sense to my structured analysis, I need to look higher.
Weekly and monthly are much clearer.
I have a 1.35 - 1.2633 monthly range.

I definitely think 1.35 before 1.2633
Compulsions can be hard to resist
  • #543,788
  • Aug 20, 2020 3:23pm Aug 20, 2020 3:23pm
It's clear that the market's where not created for people who can not even make it move a pip.

#trade safe
BARAK
  • #543,789
  • Aug 20, 2020 3:25pm Aug 20, 2020 3:25pm
Quoting trumps
{quote} Yep, I find when the daily doesn't make sense to my structured analysis, I need to look higher. Weekly and monthly are much clearer. I have a 1.35 - 1.2633 monthly range. I definitely think 1.35 before 1.2633
if this week also closes in green after this move this week there is the risk many will go long, or what you think? That would make it hard of making it to go higher? We have already now seen the monthly candle from the election, since then uk has basically gone “south”.. waiting for the brexit failing, no one gives a damn about that really anymore, who would care about collaboration in times when every country tries to “kill” all other countries with the excuse of corona.. UK is the best, it has among the highest corona cases, and STILL blocks it citizens of leaving the country by putting quarantine rules. Basically wants to kill all business relationships and to assure not a penny is spend outside of thr country..
  • #543,790
  • Aug 20, 2020 3:35pm Aug 20, 2020 3:35pm
Quoting MarketPatrol
It's clear that the market's where not created for people who can not even make it move a pip. #trade safe
i like it) most important to be trade safe
Like your wife says, hold the fucking position until I tell you I'm done.
  • #543,791
  • Aug 20, 2020 3:42pm Aug 20, 2020 3:42pm
Quoting krst8
{quote} if this week also closes in green after this move this week there is the risk many will go long, or what you think? That would make it hard of making it to go higher? We have already now seen the monthly candle from the election, since then uk has basically gone “south”.. waiting for the brexit failing, no one gives a damn about that really anymore, who would care about collaboration in times when every country tries to “kill” all other countries with the excuse of corona.. UK is the best, it has among the highest corona cases, and STILL...
I don't know sorry mate, I just trade what my chart shows me each day.
Compulsions can be hard to resist
  • #543,792
  • Aug 20, 2020 3:54pm Aug 20, 2020 3:54pm
Didn't expect today to be like that?!? Couldn't transform some sells (40%) into buys due to the very fast move up...

What bearish week, when there are not two dacking sell days in a row, YET?!?

These are us cents lots. Don't get jelaous.
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Maadik Hugiis. IQ 69.
  • #543,793
  • Aug 20, 2020 4:02pm Aug 20, 2020 4:02pm
GU exaggerated to the north pole by recovering almost it's losses against the dollar today. What I am keeping in mind is that the usdx started shooting up aggressively before the FOMC meeting minutes and today it didn't go overboard during the pullback from yesterday's gain's, it is supported around 92.70. this could mean something only will tell.

•my thoughts
#trade safe
BARAK
  • #543,794
  • Aug 20, 2020 4:14pm Aug 20, 2020 4:14pm
Couldn’t break previous day but the close is impressive.. New stack zone now at 1.31793..

Time to get some sleep..
Good night bulls..

SS
  • #543,795
  • Aug 20, 2020 4:16pm Aug 20, 2020 4:16pm
Aug'20 looks like a trending month. So far. The opening wick (the one at the bottom of the Aug'20 monthly candle) is way smaller than 150 pips, which means, all small Aug candle's size expectations (~300 pips HL) will probably NOT MATCH with the upcoming reality...
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Maadik Hugiis. IQ 69.
  • #543,796
  • Aug 20, 2020 4:33pm Aug 20, 2020 4:33pm
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  • #543,797
  • Aug 20, 2020 4:37pm Aug 20, 2020 4:37pm
Quoting shahab8b
The unexpected? I don't think so unless you were not paying attention to the massive uptrend since July. "Buy the dips in an uptrend" sounds simple, right? But when it dips everyone forgets and shorts the damn thing.
Reversals begin with a bearish momentum as what we experienced. If the weekly had closed like that, it would most likely continue lower. Besides, it just hit an important zone.

Hence, why I used that term.
  • #543,798
  • Aug 20, 2020 4:54pm Aug 20, 2020 4:54pm
While i dont trade rsi, a bearish divergence is building there on 4 hours.. to good to be true...
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  • #543,799
  • Aug 20, 2020 8:20pm Aug 20, 2020 8:20pm
Quoting JayBag
{quote} Still anticipating this daily close.. Needless to say I am expecting more spike.. SS
more ..
just for a cup of coffee...
  • #543,800
  • Edited 8:39pm Aug 20, 2020 8:24pm | Edited 8:39pm
low for the day 3010.

Buy tHE DIPS untll London open

I am not going to short till then.

IMO.
Intraday only.
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