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Cable Update (GBPUSD)

  • #549,761
  • Sep 23, 2020 1:36pm Sep 23, 2020 1:36pm
Quoting ZTrader123
{quote} So do you not use like EURUSD for cross analysis to support your GBP trades? Or do you just rely on GBP price action
Cross analysis is just correlations, you will run into trouble making decisions based on that information

It is more useful as confirmation after a move has progressed
its just a script. join the club
  • #549,762
  • Sep 23, 2020 1:42pm Sep 23, 2020 1:42pm
Quoting Fredo219
Just sold for 40pips 1:1
1.27253 is a iron support
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yes yes yes
  • #549,763
  • Sep 23, 2020 1:55pm Sep 23, 2020 1:55pm
Quoting Dzap
{quote} Cross analysis is just correlations, you will run into trouble making decisions based on that information It is more useful as confirmation after a move has progressed
I feel like i have gotten some good trades off cross analysis
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Here are two examples where i feel like cross analysis can show a market out of "equilibrium" if thats what you wanna call it, it seems as though since GBP doesnt make up much of the market volume a day it kind of has to follow what euro is doing since its the big boy and how they are both XXX/USD related they do show similarities. Ive found that when GBP makes higher highs while EUR struggles to break old highs GBP will usually follow, same goes with on the opposite end, such as today we had GBP make a run lower while EUR held strong at its support level, this resulted in EUR and GBP going up but like you said i dont know if im just like catching wind of a move thats alrdy happening or im on to something here
Either way these markets are confusing af at times because this cross analysis thing that i do seems to work like 100% like it was meant to happen and then can form the next day and have zero affect on GBP

For the traders that have been around a while i would like to hear if this even matters or makes sense in these markets or im just wasting my time on some monkey stuff
  • #549,764
  • Sep 23, 2020 1:57pm Sep 23, 2020 1:57pm
Quoting Wavegarrick
{quote} Hi Guys, Sorry for the after the fact post. Had a very busy morning, non trading related. Nice crystal clear sell signal for me this morning. My weekly support 1 just below at 1.28131. Do we form a double bottom or smash through with next area of support at 1.26622 ish?. I am also getting a strong buy signal from a weekly perspective. We shall see what transpires here. Have a great week. Cheers. {image} {image}
Hi Guys,
I am not gonna become too complacent here. My target at 1.26622 almost there. I have taken handsome profits off the table today. My daily pivots contracting tells me that bears are losing a bit of steam. I have entered a sell trade off my daily pivot with a fully confirmed sell signal but am not going to get greedy on this one.

Trade Safe
Cheers.
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Trade to trade another day
  • #549,765
  • Sep 23, 2020 2:09pm Sep 23, 2020 2:09pm
Attached Image (click to enlarge)
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yes yes yes
  • #549,766
  • Sep 23, 2020 2:53pm Sep 23, 2020 2:53pm
The market might test April's High tomorrow. (2650)
Le$$ I$ More
  • #549,767
  • Sep 23, 2020 3:11pm Sep 23, 2020 3:11pm
Quoting Moty
{quote} 1.27253 is a iron support {image}
Maybe.
Market will decide tho.
Patience.....
  • #549,768
  • Sep 23, 2020 3:14pm Sep 23, 2020 3:14pm
Quoting Roszey
The market might test April's High tomorrow. (2650)
Icall that area a possible bounce
  • #549,769
  • Sep 23, 2020 4:27pm Sep 23, 2020 4:27pm
Quoting HBN08
{quote} Icall that area a possible bounce
possible!!
Le$$ I$ More
  • #549,770
  • Sep 23, 2020 8:34pm Sep 23, 2020 8:34pm
Attached Image (click to enlarge)
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yes yes yes
  • #549,771
  • Sep 23, 2020 8:53pm Sep 23, 2020 8:53pm
Quoting trumps
Further to what OA said earlier about GU and USD, it's interesting that GU has dropped over 700 pips, while USD has risen only about 150. USD could have a little catching up to do. {image}
USD has been catching up the last few days, and is now approaching resistance.
Compulsions can be hard to resist
  • #549,772
  • Sep 23, 2020 9:37pm Sep 23, 2020 9:37pm
Again 1.27129 support or resistence
  • #549,773
  • Sep 23, 2020 11:53pm Sep 23, 2020 11:53pm
index open sell order "yesterday after 4pm"
  • #549,774
  • Sep 24, 2020 12:10am Sep 24, 2020 12:10am
Gu will find support at round number 1.2700
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yes yes yes
  • #549,775
  • Sep 24, 2020 1:09am Sep 24, 2020 1:09am
Made a mistake last night.
Thought that dx will drop at the top of the channel or maybe daily r2 .
I saw the support that can become a resistance at 94.545 but i didn't believe it will up there.
Ok , what done is done.
Up up and away for gu to 1.27700 again
yes yes yes
  • #549,776
  • Sep 24, 2020 1:31am Sep 24, 2020 1:31am
As for now i prefer still to sell the fake.
But market can change any minute so lets see
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #549,777
  • Sep 24, 2020 1:57am Sep 24, 2020 1:57am
Quoting Almo2312
As for now i prefer still to sell the fake. But market can change any minute so lets see
im with the second part of your post, it will change..drop of 50 is possible, but will climb back up
  • #549,778
  • Sep 24, 2020 2:01am Sep 24, 2020 2:01am
Hi Guys,
For those of you interested.
USDX at a strong juncture which served as a bounce point for dollar bulls in the past. Could it serve as resistance this time around?
Cheers.
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Trade to trade another day
  • #549,779
  • Sep 24, 2020 2:06am Sep 24, 2020 2:06am
It looks like a support been form at 78.6 prz level
~ I may be wrong trade safe
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  • #549,780
  • Sep 24, 2020 2:08am Sep 24, 2020 2:08am
Buyers wicks
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yes yes yes
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