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Cable Update (GBPUSD)

  • #549,181
  • Sep 19, 2020 12:46pm Sep 19, 2020 12:46pm
The price could not move over the 1.3000 level. But it might do that next week.
September in the Spotlight
Risk Management is of utmost importance!
  • #549,182
  • Sep 19, 2020 12:57pm Sep 19, 2020 12:57pm
M15
View of the week
Target will be 1.28400 for me
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  • #549,183
  • Sep 19, 2020 1:41pm Sep 19, 2020 1:41pm
The market clearly overreacted to the bill last week.

"The bill passed its first stage in the Commons by 340 votes to 263, and looks set to clear further stages next week after Johnson moved to avert a rebellion by offering concessions.

The bill is scheduled to finish its journey through the lower house on September 29.

After this it will undergo scrutiny in the House of Lords. The bill is not being fast-tracked by Lords and will take most of October and November to consider.

This means it will not be law either before the EU's end of September deadline to withdraw the bill, or Johnson's Oct. 15 deadline for a deal with the EU. The negotiations around either of these deadlines, if successful, could remove the need for the bill's most contentious parts."
Everyone can see the chart, but only a few can actually read it.
  • #549,184
  • Sep 19, 2020 1:49pm Sep 19, 2020 1:49pm
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  • #549,185
  • Sep 19, 2020 2:02pm Sep 19, 2020 2:02pm
Quoting OxyGen_FX
{quote} Hi Moty, you have got nice trades there, and probably had more experience than me in terms of no.of trading days, but let me offer a different perspective from a price action point of view. Purely my own view. Price action and patterns are mere possibilities. Studies have shown SHS are 75% accurate, flags 70% etc etc...are still only possibilities. May not happen. Patterns sometimes morph. I can bring up a text-book case about AUDCAD Daily chart if you are interested. GBPUSD. In the event that GU does go up above 1.30 next week, it is still...
Throw everything babypips out of the window, this is one of the best advice you can get in your trading journey, and as a bonus, it's totally free.

As for GJ, I have a long from Friday, looks like a double liquidity trap to me, absorbing sellers under the broken trendline, with a final dip in price to take the NY gap from the previous run-up, now we wait for the verdict on Monday.

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  • #549,186
  • Sep 19, 2020 2:25pm Sep 19, 2020 2:25pm
Quoting OnlineAddict
The market clearly overreacted to the bill last week. "The bill passed its first stage in the Commons by 340 votes to 263, and looks set to clear further stages next week after Johnson moved to avert a rebellion by offering concessions. The bill is scheduled to finish its journey through the lower house on September 29. After this it will undergo scrutiny in the House of Lords. The bill is not being fast-tracked by Lords and will take most of October and November to consider. This means it will not be law either before the EU's end of September...
In my opinion, there is no way trade negotiations will conclude successfully unless the bill's controversial clauses are taken off the table completely. In fact, EU issued an ultimatum to remove them until month end (and Johnson rejected the ultimatum). So there is also a case for saying market underreacted to the bill.
  • #549,187
  • Sep 19, 2020 2:40pm Sep 19, 2020 2:40pm
Quoting VM.
{quote} In my opinion, there is no way trade negotiations will conclude successfully unless the bill's controversial clauses are taken off the table completely. In fact, EU issued an ultimatum to remove them until month end (and Johnson rejected the ultimatum). So there is also a case for saying market underreacted to the bill.
If there is no deal, it will be because of Johnson, not the EU. EU politicians are soft, big talk, but never any action...just puppets...and whoever is paying them, doesn't want to lose money in some uncertainty between UK and EU, so they will push for a deal, no matter how bad it will be for them(even though they may claim the opposite in the media, for the sheep to be calm).
Everyone can see the chart, but only a few can actually read it.
  • #549,188
  • Sep 19, 2020 5:09pm Sep 19, 2020 5:09pm
Quoting godlike
{quote} Lol it's not a stupid and question, and I'm still quite a newbie but don't worry I'll get them millons too You're comparing your system with Akim's, and the years you guys have spent trading is almost the same according to your posts. So I'm just helping you make the comparison. For your system to beat Akim's own it must have better than this godlike pinpoint entries lol Over 90% accuracy Made you millions of dollars over your years of trading Akim's system has all over the above,...
Rather than speaking for akim why don't you speak for yourself, if you think his system is better than mine then follow him and ignore my post, or does my post get to you? the constant barking of a dog can never make him a lion okay.
  • #549,189
  • Sep 19, 2020 5:37pm Sep 19, 2020 5:37pm
Quoting epzero
{quote} Rather than speaking for akim why don't you speak for yourself, if you think his system is better than mine then follow him and ignore my post, or does my post get to you? the constant barking of a dog can never make him a lion okay.
Jeez you mean ( NO MATTER HOW THE DOG BARK IT CAN NEVER ROAR LIKE THE KING IN THE JUNGLE ) OH BOY........ THAT IS FATALITY MOVE IN MORTAL KOMBAT
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GREATEST WISDOM AND POSITIVE ENABLEMENT COMES FROM ALMIGHTY GOD
  • #549,190
  • Sep 19, 2020 6:06pm Sep 19, 2020 6:06pm
Quoting godlike
{quote} Has your system returned tens of millions of dollars
How do you know AKIM's system has made millions or tens of millions of dollars?
Compulsions can be hard to resist
  • #549,191
  • Edited 7:45pm Sep 19, 2020 6:59pm | Edited 7:45pm
Quoting L.m
{quote} I know why my analysis is not your prime choice. We come from a decade bearish mkt, the weekly star looks scary etc. But I see signs of a change. I'm not surprised by bearish signals and I don't want to undervalue them, I'm ready to say I was wrong to read the bullish inversion of the long term trend but the recent drop seems just manupulation at the moment. I refer to the speed, not to the fall itself because I expected the price to drop to 1.28 at least after a 1200 pips rally. Looking at fundamentals, I still don't think the UK Parliament...
I know what you're saying but I don't think my bias stems from that, I spent quite a few months posting bullish ideas based on the wick .I thought the wick was bullish but never really thought it could go further, on that alone.To break up after such down in this year it would have to go very far.
I am bearish right now,I believe the monthly will print bearish.But I don't look further than the range.

The monthly with that wick is a very unusual candle ,but I don't know if it's bullish like an end of long term trend.There not really any candle pattern there.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #549,192
  • Sep 19, 2020 8:03pm Sep 19, 2020 8:03pm
I agree
Quoting VM.
{quote} In my opinion, there is no way trade negotiations will conclude successfully unless the bill's controversial clauses are taken off the table completely. In fact, EU issued an ultimatum to remove them until month end (and Johnson rejected the ultimatum). So there is also a case for saying market underreacted to the bill.
The fact that Boris is making a law that breaks the treaty he just signed gives a good indication as to how the talks are going.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #549,193
  • Sep 20, 2020 2:04am Sep 20, 2020 2:04am
Hourly SW..
Maybe the market will want to continue its sell move it started from last Friday..
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Le$$ I$ More
  • #549,194
  • Sep 20, 2020 2:59am Sep 20, 2020 2:59am
Selling Zones for this week
1.3030 to 1.3100

Buying Zones for this week
1.2800 to 1.2724

Target Zone for this week
1.2900

Note:- current 1.29 is an indecision zone in the short term, better avoid buying or selling this level.

Trade with caution.
Data + Stat + Risk/Emotions Management
  • #549,195
  • Sep 20, 2020 3:25am Sep 20, 2020 3:25am
On Ninjatrader 2020/09/11 chart, (tick chart) there's a 200 pip move. But I can't see anything like that on MT4 time based charts. It seems charts history from 15.30 on 10th Sept to the midnight of the same day is missing from the charts. Any idea why this happens?
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  • #549,196
  • Sep 20, 2020 4:13am Sep 20, 2020 4:13am
Quoting sameer99
On Ninjatrader 2020/09/11 chart, (tick chart) there's a 200 pip move. But I can't see anything like that on MT4 time based charts. It seems charts history from 15.30 on 10th Sept to the midnight of the same day is missing from the charts. Any idea why this happens? {image}
The 200pips move happened on 10th Sep
Le$$ I$ More
  • #549,197
  • Edited 4:45am Sep 20, 2020 4:29am | Edited 4:45am
Quoting Bones
{quote} I know what you're saying but I don't think my bias stems from that, I spent quite a few months posting bullish ideas based on the wick .I thought the wick was bullish but never really thought it could go further, on that alone.To break up after such down in this year it would have to go very far. I am bearish right now,I believe the monthly will print bearish.But I don't look further than the range. The monthly with that wick is a very unusual candle ,but I don't know if it's bullish like an end of long term trend.There not really any candle...
You're more expert than me about technicals, so you'll be likely right, but for the moment I don't think the price will break the violet support areas in my chart (I too think the monthly will print bearish btw).

Edit: the fact is I see patterns, at least what I consider to be as such

Quote
In my opinion, there is no way trade negotiations will conclude successfully unless the bill's controversial clauses are taken off the table completely. In fact, EU issued an ultimatum to remove them until month end (and Johnson rejected the ultimatum). So there is also a case for saying market underreacted to the bill.

That's the point. I don't think the UK Parliament will vote the bill as it is now.
  • #549,198
  • Sep 20, 2020 5:01am Sep 20, 2020 5:01am
Quoting L.m
That's the point. I don't think the UK Parliament will vote the bill as it is now.
We know exactly what will happen. Commons will vote for the bill, amending it so that Parliament has a bigger role if government decides to break the international law. See, for instance: https://www.bbc.co.uk/news/amp/uk-politics-54170397.

Question is, whether EU would be satisfied with this. I don't see how this amendment changes anything from EU's perspective, as the threat to break Withdrawal Agreement is still there. It may (or may not) however be enough for EU to soften their stance a bit and allow more time before going to court or stopping the negotiations. At any rate, the last negotiating round is 29 Sep - 2 Oct, so things will really start moving around that time.
  • #549,199
  • Sep 20, 2020 7:07am Sep 20, 2020 7:07am
Quoting Roszey
Hourly SW.. Maybe the market will want to continue its sell move it started from last Friday.. {image}
my thoughts exactly
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yes yes yes
  • #549,200
  • Sep 20, 2020 7:28am Sep 20, 2020 7:28am
i can't see,. index in buyer position for currently
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