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Cable Update (GBPUSD)

  • #546,761
  • Sep 8, 2020 1:00am Sep 8, 2020 1:00am
Quoting Moty
{quote} No my friend. Yesterday low and last weklow is broken. Trend line is is broken. I should move my tp lower . I will leave it at 1.31219 and wait for lo for another set up for sell
Sometimes it’s good to listen to people’s advice when your still in profit
  • #546,762
  • Sep 8, 2020 1:07am Sep 8, 2020 1:07am
Quoting SCopier
Wait price touch that red line, that is good time to open long {image}
Why u always are right
  • #546,763
  • Sep 8, 2020 1:12am Sep 8, 2020 1:12am
it will be rocky tuesday today i guess...
end of the month, u r already a winner
  • #546,764
  • Sep 8, 2020 1:21am Sep 8, 2020 1:21am
https://i.imgur.com/81Asd4c.jpg
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  • #546,765
  • Sep 8, 2020 1:23am Sep 8, 2020 1:23am
Quoting SCopier
Wait price touch that red line, that is good time to open long {image}
What TP area do you see for this long?
Observation is the path to discovery.
  • #546,766
  • Sep 8, 2020 1:28am Sep 8, 2020 1:28am
Price not hit the red line yet, but keep watching near pivot will break up or not. My SS maybe can explain it
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  • #546,767
  • Sep 8, 2020 1:34am Sep 8, 2020 1:34am
Quoting Georginson
{quote} The pair can surge to 1.3250/1.3320 area next, you may consider taking off your short and re entering at a higher level.
1.32 possible if difficult. 1.325 problematic. 1.33... very unlikely in my view.

We are not trading in a vacuum, real-life political developments are important. I can't see many buyers with the current EU-UK tension escalation, and technical flows can only take you so far.
  • #546,768
  • Sep 8, 2020 1:44am Sep 8, 2020 1:44am
Quoting VM.
{quote} 1.32 possible if difficult. 1.325 problematic. 1.33... very unlikely in my view. We are not trading in a vacuum, real-life political developments are important. I can't see many buyers with the current EU-UK tension escalation, and technical flows can only take you so far.
My medium term view of this pair is 1.2870 should be seen but it can't go in a straight line. After 360/380 pips fall from high, it often retraces by 200/230 pips before bearish continuation. You may check April 30 to May 8 and June 10 to June 16.
Data + Stat + Risk/Emotions Management
  • #546,769
  • Sep 8, 2020 1:57am Sep 8, 2020 1:57am
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feel free to invite me to your forum, if you have any
  • #546,770
  • Sep 8, 2020 1:58am Sep 8, 2020 1:58am
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Good Morning
Stil sit on my hands... Looking forward to cut half of my position, i have still problems with my TP/ Exit of my trades.
Thanks shahab8b for those wise word its important to keep this in Mind
  • #546,771
  • Sep 8, 2020 2:06am Sep 8, 2020 2:06am
Short 3143
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #546,772
  • Sep 8, 2020 2:09am Sep 8, 2020 2:09am
Quoting Georginson
{quote} My medium term view of this pair is 1.2870 should be seen but it can't go in a straight line. After 360/380 pips fall from high, it often retraces by 200/230 pips before bearish continuation. You may check April 30 to May 8 and June 10 to June 16.
I don't doubt that it has happened in the past, as it is a normal technical pattern. But patterns may or may not apply to current situation. This week's focus is Brexit. So we can advance higher if there is good news on Brexit, or if there is no news, and we advance on dollar weakness. But good news are nowhere to come from, and dollar is not showing weakness right now. Bad news, on the other hand, will continue to pile up. We will see retraces of course, but I doubt we can rally for 150-200pips.
  • #546,773
  • Sep 8, 2020 2:14am Sep 8, 2020 2:14am
terrible terrible trend, went for a sell, it became bullish crossed my SL and then went into sell again, lost quite a lot chasing this erratic trend.

regards
  • #546,774
  • Sep 8, 2020 2:19am Sep 8, 2020 2:19am
Quoting Georginson
{quote} but it can't go in a straight line.
It went up in a straight line, why not down? This year we have seen a lot of big one-way movements, it is becoming more normal.
  • #546,775
  • Sep 8, 2020 2:20am Sep 8, 2020 2:20am
Quoting VM.
{quote} I don't doubt that it has happened in the past, as it is a normal technical pattern. But patterns may or may not apply to current situation. This week's focus is Brexit. So we can advance higher if there is good news on Brexit, or if there is no news, and we advance on dollar weakness. But good news are nowhere to come from, and dollar is not showing weakness right now. Bad news, on the other hand, will continue to pile up. We will see retraces of course, but I doubt we can rally for 150-200pips.
I don't only base my observations on past happenings, I also consider technical levels to buttress my view. I'm heavily bearish on this pair to 1.2870 but some mini bounce will definitely happen along the way with or without brexit saga.
Data + Stat + Risk/Emotions Management
  • #546,776
  • Sep 8, 2020 2:24am Sep 8, 2020 2:24am
Quoting VM.
{quote} I don't doubt that it has happened in the past, as it is a normal technical pattern. But patterns may or may not apply to current situation. This week's focus is Brexit. So we can advance higher if there is good news on Brexit, or if there is no news, and we advance on dollar weakness. But good news are nowhere to come from, and dollar is not showing weakness right now. Bad news, on the other hand, will continue to pile up. We will see retraces of course, but I doubt we can rally for 150-200pips.
On the otherside i would say that a strong Sterling or Euro isnt that good for our Economy. I dont know the situation in UK but for our Exports in Germany a weak Euro is more profitable to sell goods instead of a rising one
  • #546,777
  • Sep 8, 2020 2:26am Sep 8, 2020 2:26am
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yes yes yes
  • #546,778
  • Sep 8, 2020 2:37am Sep 8, 2020 2:37am
Quoting Moty
{image}
That a 50 MA band moty?
  • #546,779
  • Sep 8, 2020 2:40am Sep 8, 2020 2:40am
Quoting Georginson
{quote} I don't only base my observations on past happenings, I also consider technical levels to buttress my view. I'm heavily bearish on this pair to 1.2870 but some mini bounce will definitely happen along the way with or without brexit saga.
Mini-bounce, even 50/100 pips -- possible. 200 pips -- I can't see it.

I am not sure if you just make notes on how price will react, or plan to trade on this. If it is the latter, you are going against a strong trend and against your own mid-term expectation. I don't think it is considered a good practice.
  • #546,780
  • Sep 8, 2020 2:45am Sep 8, 2020 2:45am
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managed to secure a short yesterday, and targeting 200 EMA on 4hr chart.
I have no clue where it's going
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