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Cable Update (GBPUSD)

Quoting epzero
{quote} no matter how high it goes today one thing is certain and that is cable is finishing below the open price today
Alright bro
1.35 is a scary number. if it finds support there, dollar is dead. 1.50 will happen imo if that is the case. otherwise i still see 1.20 until christmas. maybe march (if so, would suggest seasonal y/y dollar trend change) i am no dollar bull, but we are stretching for sure. i try to stay flat and short dollar unless the month end has something to say about it.
be careful
Let the market decide
Quoting WhipKream
1.35 is a scary number. if it finds support there, dollar is dead. 1.50 will happen imo if that is the case. otherwise i still see 1.20 until christmas. maybe march (if so, would suggest seasonal y/y dollar trend change) i am no dollar bull, but we are stretching for sure. i try to stay flat and short dollar unless the month end has something to say about it.
Dollar is not dead, market is trading at a normal level, what goes up must surely come down, 1.35 and then the fall starts.
Quoting epzero
{quote} Dollar is not dead, market is trading at a normal level, what goes up must surely come down, 1.35 and then the fall starts.
hey i think parity is fair, but dont fight the fed ya know?
Quoting WhipKream
{quote} hey i think parity is fair, but dont fight the fed ya know?
i am 100% sure cable will bounce at 1.35 not because of the fed but because lots of buyers will exit their position.
Quoting epzero
{quote} i am 100% sure cable will bounce at 1.35 not because of the fed but because lots of buyers will exit their position.
monthly close so bullish i wouldnt be so sure. id be happy to see it, but not a trade i would take. 1.35 is a neckline, and there's no liquidity up here. from 1.35 to 1.50 there is no supply. heavy rejection at 1.35 will have me eat my words and short some.
Still going up for a while, nice momentum.
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60-75 pips, then a base / consolidation.

I'm testing my psycho at this level, usually I don't trade in this kind of situation.
Let the market decide
i see some shorts, but really, on the weekly, its just too bullish. if today is a nice bearish day and monthly becomes a bearish pin, i will short like i said to 1.20 if it goes there. we have some rejection on the white supply box, and cot says momentum stalled. this could have been a clearance of the shorts which were building before 1.35, and today could be 2 day reversal again. my std dev is high on the 4hr, so more or less this could just be more range and bullish consolidation before a break down. i am waiting.
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and higher up, its just too wide open. really, idk what they were thinking. long term price shock effects? now the melt up though.....
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1.34 last stand chance for bears. 20% from the bottom, 10% from the monthly tail.
There are not any short vibrations whatsoever at the moment...
Maadik Hugiis. IQ 69.
dx broke 92.500 , it's going down.
gu will not rest until it get to 1.35 , so only long trades for until that.
weekly open is above weekly pivot, so main target is weekly r1.
The price does not have to go down to check the weekly pivot, so I took it from here.
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Quoting Moty
dx broke 92.500 , it's going down. gu will not rest until it get to 1.35 , so only long trades for until that. weekly open is above weekly pivot, so main target is weekly r1. The price does not have to go down to check the weekly pivot, so I took it from here. {image} {image}

NFP week, so wide zig zag, in a range, makes sense, too...
Maadik Hugiis. IQ 69.
at the last friday london was close below daily range,Interesting
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Monthly candle on breaking nearest TL
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I'm probably wrong.
Let the market decide
Quoting MondumaFx
I'm probably wrong.
You are not wrong but you are cute
Quoting MondumaFx
I'm probably wrong.
I had to scroll up to see what your 'Probably wrong' about.....LOL

A prop trader I knew Adam would always say "price heads in the direction to hurt most traders" this is because the banks have an Eagle's eye view on where all orders and SLs lay.
Were all now conditioned to think that 1.35 is imminent but with London closed for a holiday I'm thinking there is not much chance of that happening, some time this week it can happen but not today IMO
I could be wrong
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I will be waiting to see the FIRST bull to flip his position to sell today.

Expect the metamorphosis!!!
If price stays under 10ema were heading south, have a sell trade from last week I had mostly hedged so happy to close around 1.33. Made all my money on The Dragon last Friday
Eur/Gbp being bought
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