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Cable Update (GBPUSD)

  • #553,441
  • Oct 15, 2020 11:06am Oct 15, 2020 11:06am
Quoting thevisitor
{quote} yes Almo..here in Germany this works for years but in 2021 this will be a new law...but we are still fighting >> Verfassungsklage Karlsruhe!!!
Hope you all be successful with this issue ..if not it will be very unfair for traders
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #553,442
  • Oct 15, 2020 11:07am Oct 15, 2020 11:07am
wish me luck....otw red line
Attached Image (click to enlarge)
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  • #553,443
  • Oct 15, 2020 11:15am Oct 15, 2020 11:15am
Quoting Almo2312
{quote} Hope you all be successful with this issue ..if not it will be very unfair for traders
Almo,
I don't like consolidating markets at all.
They make me confuse, especially when I'm in red.
Do you see GU going deeper or is there a hope for those of us holding long?
Your opinion please.
  • #553,444
  • Oct 15, 2020 11:15am Oct 15, 2020 11:15am
Quoting miedpreneur
{quote} as always you have nice and good chart setup.. but im afraid i still see GU wanna drop again from current price 1.2910 atm.. we may not see any good support at least until 1.287ish but i can be very wrong who knows..
1.2570
wow
  • #553,445
  • Oct 15, 2020 11:15am Oct 15, 2020 11:15am
Hey guys took a time from FF to be more focus while my trading...
For me yesterday we made the W low today was just a kiss to good bye , now we should go to 1.30060 /1.30500
If price breaks 1.28600 i expect 1.27600
(can be wrong)
Good trades guys
  • #553,446
  • Oct 15, 2020 11:20am Oct 15, 2020 11:20am
Quoting Kanizaro
{quote} Almo, I don't like consolidating markets at all. They make me confuse, especially when I'm in red. Do you see GU going deeper or is there a hope for those of us holding long? Your opinion please.
Hi buddy ,i cant tell you what to do about your trading..
For now i am in short but it can be change if i see any significant sign for reversal that's it for me ..
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #553,447
  • Oct 15, 2020 11:21am Oct 15, 2020 11:21am
For the last six M5 candles, support has been just a little below 1.29100.
I hope it will remain there till we get to 1.30000 or at least 1.29590
  • #553,448
  • Oct 15, 2020 11:22am Oct 15, 2020 11:22am
Quoting rich_man
{quote} 1.2570
noted.. thx i see that level as well lets see how fast GU can reach that level.. hahaha gila
Trade what you see, not what you think.. react and stay sharp..
  • #553,449
  • Oct 15, 2020 11:23am Oct 15, 2020 11:23am
support was 1.293,. no longer need
  • #553,450
  • Oct 15, 2020 11:29am Oct 15, 2020 11:29am
Quoting Almo2312
{quote} Hi buddy ,i cant tell you what to do about your trading.. For now i am in short but it can be change if i see any significant sign for reversal that's it for me ..
im agree with you, still not see any sign of reversal yet.. by looking to h4 TF still indicates strong sell .. but weekly we still on bullish mode
Trade what you see, not what you think.. react and stay sharp..
  • #553,451
  • Oct 15, 2020 12:17pm Oct 15, 2020 12:17pm
Seems to be stuck in a tight range here. As soon as I see a green spike it’s slapped right back. Rejected the drop below 12890 a couple of times not sure if it’s sufficient to indicate a long.
Insane in the Brain..
  • #553,452
  • Oct 15, 2020 12:22pm Oct 15, 2020 12:22pm
Quoting BeeTogether
Seems to be stuck in a tight range here. As soon as I see a green spike it’s slapped right back. Rejected the drop below 12890 a couple of times not sure if it’s sufficient to indicate a long.
Wow...
Very well said.
Let's see how it goes.
My day has been very tough but still not given up yet.
  • #553,453
  • Oct 15, 2020 12:30pm Oct 15, 2020 12:30pm
Target for my short trade is the 2681 low as the daily up trend has not been reversed yet, this is only a swing reversal from the previous daily upswing , so support would the 2681 low, however if the 2681 low breaks and the daily closes below then the daily trend is reversed and i will put all the profit from the first trade back on short as the price retests 2681 for a target of 1.2250.

Same for gbpjpy target support at 133.08 and break below with a retest all profit going on the daily trend reversal


Eurusd has already reversed the daily uptrend and currently my trade from 1719 is a continuation trade first support around 1250 but ultimate target will be around 1.0807, yes that right 900 pips.
Follow The Markets Structure - Patience and Discipline
  • #553,454
  • Oct 15, 2020 12:30pm Oct 15, 2020 12:30pm
It looks like we are just having some range created between those two lines.
Maybe later the price decide to take one direction.
Checking daily Charts I would say it will finally go bullish, but we can still see some bearish movement before that, so I will wait for buying.
Attached Image (click to enlarge)
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The trend lines you see on my charts, are created using Neural Networks
  • #553,455
  • Oct 15, 2020 12:39pm Oct 15, 2020 12:39pm
Quoting Sobrevals
It looks like we are just having some range created between those two lines. Maybe later the price decide to take one direction. Checking daily Charts I would say it will finally go bullish, but we can still see some bearish movement before that, so I will wait for buying. {image}
Yes.
Range: low 1.29080 and highest 1.29375 where the spike hit. But it's not gone above 1.29295 either.
Let's see which one will break first.
Because I'm long, I wish we go up.....lol
But let the market decide.
  • #553,456
  • Oct 15, 2020 12:40pm Oct 15, 2020 12:40pm
Quoting pipfarm
Target for my short trade is the 2681 low as the daily up trend has not been reversed yet, this is only a swing reversal from the previous daily upswing , so support would the 2681 low, however if the 2681 low breaks and the daily closes below then the daily trend is reversed and i will put all the profit from the first trade back on short as the price retests 2681 for a target of 1.2250. Same for gbpjpy target support at 133.08 and break below with a retest all profit going on the daily trend reversal Eurusd has already reversed the daily uptrend...
Good

my euro target is 1,1530 and 1,1290
my gbp target is 1,24 and 1,17
Make money by doing the opposite of Giveachance aka loser
  • #553,457
  • Oct 15, 2020 12:46pm Oct 15, 2020 12:46pm
Quoting nessus94
{quote} Good my euro target is 1,1530 and 1,1290 my gbp target is 1,24 and 1,17
From 1310 GMT, price has not been able to go below 1.29095,
  • #553,458
  • Oct 15, 2020 12:48pm Oct 15, 2020 12:48pm
From chief UK negotiator David Frost:
Disappointed by the #EUCO conclusions on UK/EU negotiations. Surprised EU is no longer committed to working "intensively" to reach a future partnership as agreed with @vonderleyen on 3 October. Also surprised by suggestion that to get an agreement all future moves must come from UK. It's an unusual approach to conducting a negotiation. PM @BorisJohnson will set out UK reactions and approach tomorrow in the light of his statement of 7 September.

Now let's look at the statement of 7 September:
The EU have been very clear about the timetable. I am too. There needs to be an agreement with our European friends by the time of the European Council on 15 October if it’s going to be in force by the end of the year. So there is no sense in thinking about timelines that go beyond that point. If we can’t agree by then, then I do not see that there will be a free trade agreement between us, and we should both accept that and move on.
(full statement here: https://www.gov.uk/government/speech...september-2020)

You think a seasoned diplomat like Frost mentioned Johnson's statement by chance? If Johnson is not quite ready to walk away, his response will still likely be dramatic, probably some sort of ultimatum to EU; at the very least he will say that no deal is now the main scenario.

I am already short GBP, hope for a spike tomorrow morning to sell more.
  • #553,459
  • Oct 15, 2020 1:09pm Oct 15, 2020 1:09pm
Looking hindsight we had a great demand turn to supply zone on the daily (1.307) which is probably what initiated this down movement, this means we definitely could see some more downside as the next daily demand area is 1.27

The only area i see where bulls can defend is 1.28

Attached Image (click to enlarge)
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  • #553,460
  • Oct 15, 2020 1:54pm Oct 15, 2020 1:54pm
Quoting Kanizaro
{quote} Almo, I don't like consolidating markets at all. They make me confuse, especially when I'm in red. Do you see GU going deeper or is there a hope for those of us holding long? Your opinion please.
Against many traders that entered short i see here a bull explosion next week.

I was short yestarday but i quit my position to enter bull, what a loss!! i see 127 level to be tested but also i see market just wants to drain small pockects and maybe with a non signal bull would culminate that .

Both scenarios are pretty equal in chances to show up. the perfect one will be test 127 (even could be testing 125) and then pull back up to chase 136 again .

Here as always timing is crucial, so be good traders an look for the correct entry, for now i am out i had to cut losses.
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