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Cable Update (GBPUSD)

  • #548,321
  • Sep 15, 2020 2:05pm Sep 15, 2020 2:05pm
Economists at UBS advise to hold their nerve on UK assets despite the heightened concerns over the final stages of the Brexit process as the political and economic incentives point to an agreement eventually being reached. This outlook supports UK assets.
Key quotes

“We are positive on the medium-term outlook for sterling, both against the US dollar and against the euro. In line with this view, we are not hedging sterling risk for UK assets held in international portfolios. By September of next year we expect sterling to rise to USD 1.40, against 1.29 at present.”
  • #548,322
  • Sep 15, 2020 2:11pm Sep 15, 2020 2:11pm
Quoting Bones
{quote} its a standard one liner the reason the monthly cannot recover like before is where price is relative to its's surroundings . So the recovery before he points-price was literately in the middle of nowhere relative to before. {image}
I wouldn't say we are in the middle of nowhere. I think we are clearly at a key area for a major bounce, which I've posted about before.

I was more wondering why He thought a daily close below 2780 meant the downtrend would continue. I thought he meant it will continue plummeting 100's of pips down into previous yearly low.
But that's not what he meant from his response to me.
Attached Image(s) (click to enlarge)
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Compulsions can be hard to resist
  • #548,323
  • Sep 15, 2020 2:15pm Sep 15, 2020 2:15pm
Quoting msniper
Economists at UBS advise to hold their nerve on UK assets despite the heightened concerns over the final stages of the Brexit process as the political and economic incentives point to an agreement eventually being reached. This outlook supports UK assets. Key quotes “We are positive on the medium-term outlook for sterling, both against the US dollar and against the euro. In line with this view, we are not hedging sterling...
I think this is reasonable.
We are only half way through the month, the candle looks like a shake out to me
Compulsions can be hard to resist
  • #548,324
  • Sep 15, 2020 2:16pm Sep 15, 2020 2:16pm
Quoting spatel522
{quote} 1.2780 its the fourth level of major support, is already closed below 3 major support areas. 1.3161, 1.3058, 1.3004, these were all major support areas that were taken out in one day (9/8). If it closes below 4 major supports then the high stands. I am not saying it wont go below, all im saying is for it to continue the down trend we need a closing below 1.2780. If it does close below it could test the 1.2511 area on a daily basis.
Thanks, I understand better now
Compulsions can be hard to resist
  • #548,325
  • Sep 15, 2020 2:51pm Sep 15, 2020 2:51pm
Quoting msniper
Economists at UBS advise to hold their nerve on UK assets despite the heightened concerns over the final stages of the Brexit process as the political and economic incentives point to an agreement eventually being reached. This outlook supports UK assets. Key quotes “We are positive on the medium-term outlook for sterling, both against the US dollar and against the euro. In line with this view, we are not hedging sterling...
I agree with 1.40 before September next year but we got lower to go yet.
  • #548,326
  • Sep 15, 2020 3:35pm Sep 15, 2020 3:35pm
There's a potential to continue the rise tomorrow. I think if it holds the next couple days, it should rise above the 1.2780 target. Its still only one bad day away from that close though so never know.

But in general Boris cant afford to do this shit during a pandemic. He will surely lose all power and eventually the office if he doesn't come to his senses.
  • #548,327
  • Sep 15, 2020 3:49pm Sep 15, 2020 3:49pm
Haven't been here in over +10years. Glad to see you all! I dont remember what my user name was back then but I had shared a few of my strategies. Anyway, this seems like a fun and lively thread. Cheers all !

P.S good buying time with a tightest of stops (when the spread has chilled), placing my SL at BE the second the days high is hit. Or stopped out just below .2880
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #548,328
  • Sep 15, 2020 4:30pm Sep 15, 2020 4:30pm
Good point mate.

Stay safe, trade safe.

KP

Quoting Wavegarrick
{quote} Hi Guys, Trading never easy is it?. They will confuse the living shit out of you.... For me, remaining calm and patient is of the utmost importance, when these things happen....
Do your homework, follow the footprints of smart money
  • #548,329
  • Sep 15, 2020 7:39pm Sep 15, 2020 7:39pm
Attached Image (click to enlarge)
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yes yes yes
  • #548,330
  • Sep 15, 2020 8:50pm Sep 15, 2020 8:50pm
Quoting Moty
{image}
Nooo mate..
they said deep down!!!
ha ha
just joking
GL ️
just for a cup of coffee...
  • #548,331
  • Sep 15, 2020 9:12pm Sep 15, 2020 9:12pm
Quoting akim0895
{quote} Nooo mate.. they said deep down!!! ha ha just joking GL ️
All out at yesterday's daily r1 1.29142
100 $ profit on this last move.
Now Mabye i will try a little short
Attached Image(s) (click to enlarge)
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yes yes yes
  • #548,332
  • Sep 15, 2020 9:24pm Sep 15, 2020 9:24pm
today 2940, then retrace
Intraday only.
  • #548,333
  • Sep 15, 2020 9:25pm Sep 15, 2020 9:25pm
Quoting KiwiTrada
kiwi closing in on last weeks gap?? 6721 ,could be worth building a shot short ??
adding a 2nd short!! sl 13pips
If you are new to Forex? Say Goodbye to your account!!
  • #548,334
  • Sep 15, 2020 9:55pm Sep 15, 2020 9:55pm
Dx is building a uptrend structure, i am short both on eu and gu
Attached Image (click to enlarge)
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yes yes yes
  • #548,335
  • Sep 15, 2020 10:10pm Sep 15, 2020 10:10pm
ma,s can prove helpful, weekly 200sma is in play as resistance interestingly monthly 50sma is acting as support, in between is just range trading, monthly 200 sloping down is bear trend (primary) until it changes??
If you are new to Forex? Say Goodbye to your account!!
  • #548,336
  • Sep 15, 2020 10:16pm Sep 15, 2020 10:16pm
long sl 1.28606
  • #548,337
  • Sep 15, 2020 10:17pm Sep 15, 2020 10:17pm
Quoting greengp
long sl 1.28606
any retrace long again with 1.28606 in mind
  • #548,338
  • Sep 15, 2020 11:07pm Sep 15, 2020 11:07pm
hourly possibly early formation of a bear flag gold, tapping upper trendline as typing?
If you are new to Forex? Say Goodbye to your account!!
  • #548,339
  • Sep 15, 2020 11:24pm Sep 15, 2020 11:24pm
Quoting KiwiTrada
hourly possibly early formation of a bear flag gold, tapping upper trendline as typing?
pierced for now
If you are new to Forex? Say Goodbye to your account!!
  • #548,340
  • Sep 15, 2020 11:45pm Sep 15, 2020 11:45pm
hmm
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.png Size: 108 KB
be patient
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