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Cable Update (GBPUSD)

  • #546,961
  • Sep 8, 2020 3:44pm Sep 8, 2020 3:44pm
Quoting Bones
anyone believe that monthly can go bullish is wrong, in all probability.
The bullish chance is extremely slim, though a halt at 1.2870/1.2730 is very likely which may be met with a bounce... Now brexit fears are back and that may explain the consecutive bullish run from 1.2250 to 1.3481. it's been prepared for a certain fall which had been previously factored in.
Data + Stat + Risk/Emotions Management
  • #546,962
  • Sep 8, 2020 3:50pm Sep 8, 2020 3:50pm
Quoting Georginson
{quote} The bullish chance is extremely slim, though a halt at 1.2870/1.2730 is very likely which may be met with a bounce... Now brexit fears are back and that may explain the consecutive bullish run from 1.2250 to 1.3481. it's been prepared for a certain fall which had been previously factored in.
You said bounce 1,2950/1,2870 a couple of posts back

now you say 1,2870/1,2830 bounce
Next you will say 1,27/1,2750 ? And so on until there is a bounce

like i said, your system is broken. Fix it and come back stronger

im not enjoying seeing you losing money even though you think the opposite

so fix your system (or change it) until it works better
Make money by doing the opposite of Giveachance aka loser
  • #546,963
  • Sep 8, 2020 3:51pm Sep 8, 2020 3:51pm
Quoting epzero
{quote} he is just like JayBag thinking they know it all, now market has sold 500pips and JayBag is no where to be found, i guess he is gone with the wind
He told me ones his former teacher, about the biggest joke I had ever heard on this forum.

Its some broker agent on other forum. Than I really knew the big joker he was


  • #546,964
  • Sep 8, 2020 3:55pm Sep 8, 2020 3:55pm
Quoting trumps
{quote} No touch on major TL's {image} {image}
also you have this $ w1 view even across the majors ,3 inside up today, break tl by the open.
and as pointed out at weekend the Dow in a crucial position with bear weekly= minus 786 today.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #546,965
  • Sep 8, 2020 4:00pm Sep 8, 2020 4:00pm
I don't know why they are not moving the rate to 1.2800, overnight?

For me, living a life without any open trades would be much less complicated...
Maadik Hugiis. IQ 69.
  • #546,966
  • Sep 8, 2020 4:01pm Sep 8, 2020 4:01pm
Quoting nessus94
{quote} You said bounce 1,2950/1,2870 a couple of posts back now you say 1,2870/1,2830 bounce Next you will say 1,27/1,2750 ? And so on until there is a bounce like i said, your system is broken. Fix it and come back stronger im not enjoying seeing you losing money even though you think the opposite so fix your system (or change it) until it works better
The most likely is 1.2870 which looks very clear but the brexit development isn't looking good at all.

Based on September Ranges which is usually from 500 - 650 pips, one can take 1.2980 which I posted few days ago as definite if 1.3481 remains unbroken and here we are there right now... We still have 16 more trade days to go and range may still extend to make 650 pips...

1.3481 minus 500 = 1.2981 already conquered
1.3481 minus 650 = 1.2831 next psychological range break target
1.3481 minus 753 (Sept 2017 range) = 1.2728 area...

Now the bearish pressure is really much and monthly range of 500 pips happening within first 6 trade days of the month is somewhat frightening.
Data + Stat + Risk/Emotions Management
  • #546,967
  • Sep 8, 2020 4:04pm Sep 8, 2020 4:04pm
Now let's look at other currencies and asset classes.
"Risk currencies" AUD and NZD fell by 1%
"Oil currency" NOK fell by 2%
Oil and gas futures fell by 5-6%
US stock indices fell by 2.5%-4%

I saw figures like these not too long before...

On the fundamental front:
1) the economic situation now is worse than it was in March;
2) central banks used a lot of ammunition;
3) governments cannot bail out everyone indefinitely (even if they say they can);
4) Covid is not going to go away; we will have a second wave on Europe, and even in the US I would expect the number of cases to go even higher.

Also, note a miraculous price growth in stocks in the last few months, and dollar softness that drove GBP from 1.2 to 1.35 in weeks. Yes, it may be just a correction before further up. But it may be also that the bulls were given time (and, well, money), and now bears will come to the scene.

(2/2)
  • #546,968
  • Sep 8, 2020 4:06pm Sep 8, 2020 4:06pm
Quoting epzero
{quote} LOL every bear here on this forum had a million and one post of the sell to come, my question to you is this, did you enter the sell from 1.348 and did you close it at 1.298? if no then your just a joker.
I did enter the sell at 1.347 and at 1.326, but closed both too early, which I of course regret.
I don't pretend to be a great trader; I am relatively new to this, and am learning.
Still, I suggest that we either communicate in a respectful manner, or not at all.
  • #546,969
  • Sep 8, 2020 4:13pm Sep 8, 2020 4:13pm
Last two weeks range 303 and 307 pips...


Maximum weekly range in the last 10 weeks is 393 pips (26/07/2020)

This week range already 1.3267 - 1.2979 = 292 pips.

1.2965 will equate last two weeks ranges... Or 1.2875 will equate maximum weekly range of 393 pips.

It's just Wednesday and 3 more trade days this week to go a lot of volume to still cover.
Data + Stat + Risk/Emotions Management
  • #546,970
  • Sep 8, 2020 4:25pm Sep 8, 2020 4:25pm
Quoting Bones
{quote} I don't discount going to that high again ,thats a monthly line, multi year long ,the reaction speaks for itself It's close enough for sure {image}
this DXY chart for me is in correction and it will make new low. it might go up to 94 or 94.50 but then will head down again to below 91.70 and from there they will find a very solid bottom
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  • #546,971
  • Sep 8, 2020 4:38pm Sep 8, 2020 4:38pm
Bones

checkout GBPJPY very critical level and check the MACD and RSI super low the last time it was that low we bounced 1000pips

what u think
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  • #546,972
  • Sep 8, 2020 4:45pm Sep 8, 2020 4:45pm
Quoting Georginson
Last two weeks range 303 and 307 pips... Maximum weekly range in the last 10 weeks is 393 pips (26/07/2020) This week range already 1.3267 - 1.2979 = 292 pips. 1.2965 will equate last two weeks ranges... Or 1.2875 will equate maximum weekly range of 393 pips. It's just Wednesday and 3 more trade days this week to go a lot of volume to still cover.
Are you in any long term sell already?
  • #546,973
  • Sep 8, 2020 5:05pm Sep 8, 2020 5:05pm
The zone is broken.. quitting plating God and move with the wave. Life is short.
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if prices stay below the SW Zone, then we are in for a nice sell ride.
Le$$ I$ More
  • #546,974
  • Sep 8, 2020 5:08pm Sep 8, 2020 5:08pm
Quoting msniper
Bones checkout GBPJPY very critical level and check the MACD and RSI super low the last time it was that low we bounced 1000pips what u think {image}
it's broken already
be patient
  • #546,975
  • Sep 8, 2020 5:37pm Sep 8, 2020 5:37pm
Looks to me 2750 coming up
Compulsions can be hard to resist
  • #546,976
  • Sep 8, 2020 6:09pm Sep 8, 2020 6:09pm
Quoting JungleLionFx
{quote} what are the chances of uk scrapping the deal in parliament on Wednesday
There is no chance of that.
It will be a first reading of the bill, which is not even accompanied with a debate.
Note, however, that there will be Prime Minister's Questions which are likely to be devoted in large part to the same topic. And Johnson is more likely to double down than to back off.

https://commonsbusiness.parliament.u...dTextAnchor003
  • #546,977
  • Sep 8, 2020 6:27pm Sep 8, 2020 6:27pm
wow..!!
lots of bears..
i like its because i'm still at bull side..
long till die..
just for a cup of coffee...
  • #546,978
  • Sep 8, 2020 6:38pm Sep 8, 2020 6:38pm
Quoting msniper
{quote} this DXY chart for me is in correction and it will make new low. it might go up to 94 or 94.50 but then will head down again to below 91.70 and from there they will find a very solid bottom {image}
$ basket is up to tl ?
it's bullish over the open as cable bearish below the open ,
monthly you're looking at today both charts are off a major tl and pivot to change current view you have the weight of market 'as is' and all that res/support ,this is why I say the monthly direction is set on cable and probably gbp jpy ,theres a big problem looming for the end of week ,it would take a miracle to change it

cable and gbp jpy are at or around their up TL

If cable turned bullish this month it would not stop with a major trend change.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #546,979
  • Sep 8, 2020 7:11pm Sep 8, 2020 7:11pm
Quoting akim0895
wow..!! lots of bears.. i like its because i'm still at bull side.. long till die..
hehe whats ur targets bro ?
  • #546,980
  • Sep 8, 2020 7:12pm Sep 8, 2020 7:12pm
Quoting Bones
{quote} $ basket is up to tl ? it's bullish over the open as cable bearish below the open , monthly you're looking at today both charts are off a major tl and pivot to change current view you have the weight of market 'as is' and all that res/support ,this is why I say the monthly direction is set on cable and probably gbp jpy ,theres a big problem looming for the end of week ,it would take a miracle to change it cable and gbp jpy are at or around their up TL If cable turned bullish this month it would not stop with a major trend change. {image}...
so i guess everything will be clear with euro rate news on thursday maybe

i can see bearish h&s on euro pointing down but at the same time its sitting on a support rising channel
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