Cable Update (GBPUSD)

I have similar, just a smidge deeper first though.

Will carefully analyse it and revert.

If biden wins dollar will loose value against pound

Short term because Brexit will be way heavier

It's not rocket science.

13650

Target.

Happy to stay awake all night for that.

So last week these are the important areas we travelled

high 1.29891

other important areas

1.29495
1.29264
1.29124
1.28919 around and the lowest

Quoting Georginson

Disliked

Scenario A did happen ... Marginally missed projected high by 22 pips Marginally missed projected low by 18 pips Marginally missed projected close by 40 pips Bones do not need to disagree on this. {image}

Ignored

Last 7 weeks have identical or close sizes? Between 200 and 300 pips. More or less.
Still, it is impressive at your end, I have to admit it.
You seem skillful in a range.

Edit: what exactly is a wild movement for you?! For me, 200-300 pips movement is more like a mundane thing... 600-800+ pips? For 2 to 4 weeks? Now we are talking...

Some weird daily movements from 140 - 200 pips when traders least expect it.

This November will be wild in terms of monthly range, expecting movement between 600 - 800 pips.

These levels should be carefully watched 1.3178 being broken will expose 1.3380 but will first meet a temporary resistance at 1.3270. The candle that will break 1.3178 area will be very Aggressive and will contain around 180 to 250 daily pips range.

Break of 1.2840 exposes 1.2660, break of 1.3178 exposes 1.3380. November will likely move between 1.2660 - 1.3380.

In summary November will have lots of fireworks unlike the slow motion October.

EXCUSES FOR THESE FIREWORKS WILL BE

* Potential Lock down talks in UK
* Unending Brexit drama
* Trump versus Biden election and post election outcome.

I'm quite sure I don't trade your method, and I don't have quite the same projections, but they are similar.

Quoting Georginson

Disliked

{quote}expecting movement between 600 - 800 pips. ... November will likely move between 1.2660 - 1.3380. In summary November will have lots of fireworks unlike the slow motion October. EXCUSES FOR THESE FIREWORKS WILL BE * Potential Lock down talks in UK * Unending Brexit drama * Trump versus Biden election and post election outcome.

Ignored

Same here, although I am completely lost with HL projection values...

This is Nov’16. The GOAT won against Clinton and this fact did not affect GU at all. The 538 direct voters voted against the nation’s majority and did pick up Trump as a US President. Same will probably repeat this Nov’20. Won’t affect GU much, if any at all.

Attached Image (click to enlarge)

That is a spanner in the works! However I believe that might have already been priced in to a certain extent. Keep a watch out on weekend GU pairs if they fall rapidly over the weekend then it might be worth adding tighter s/l levels to any long trades.

Here in UK there is the smell of another lockdown next week, at least for a month.

Another market crash?

Let's see...

W/E analysis

Week and Month just closed were subdued pip ranges of 73% of 13week awr, and 52% of 3mth amr respectively.

Mthly: The mthly candle closes as an effective 'IB' (Inside Bar) and although slightly bullish bodied is some kind of inverted pinbar which in and of itself might be bullish but because it is effectively an IB might be considered a continuation candle - ie of the candle to the left of it which is that big bearish engulfing. Mthly is still ranging with what now might be a double top as the close of this October mthly candle creates a fractal swing LH at 3482. last few fractal prints up to that LH have been HL, LH, L, H, LL, HH, LL, LH. The 20/50/100 ema's remain crossed down on this t/f.

Wkly: The wkly candle closes as a bearish 'dark cloud cover' type candle. There was a slight downside breech of the weekly ascending t/line during the trading week but price closed just on it. The t/f remains in an uptrend with last few fractal prints being HL, H, HL, HH, HL. The 20/50/100 ema's rare neutral/intertwined on this t/f

Dly: The dly candle closes with a bullish body but with a longer upper wick than lower, and again is effectively an IB. It's closes creates a fractal HL and the last few fractal prints up to and including it have been, H (= to last LH,) HL, HH, HL, LH, H, HL so the t/f on this measure can be said to be in a 'general' fractal uptrend and it's 20/50/100 ema's remain crossed up.

4hr: Last 4hr candle close is bearish and creates a fractal LH at 2988. The t/f can be said to be in a general fractal downtrend with last few fractal prints up to and including that one being LL, HL, H, HL, LH, L, LH, LL, LH. It's 20/50/100 ema's are neutral/intertwined, although 1hr's are crossed down.

As George has said above, rumours of a total England lockdown re Covid, ongoing brexit talk leaks, and U.s Election as well as the usual data releases all might have an effect on price this coming trading week. It is a brave man that makes any predictions given these variables. Although we all know what the 'perceived wisdom' is re effect on markets of each of the outcomes - Trade what you see !

Anyone with long positions open might need to have a look at the current weekend cable.

Although the weekend trend has recently overturned I don’t think this will unless the Uk government contradict the lockdown story

Yepppp, news of a national lockdown in the UK, being introduced as early as next week!

I ll try to catch the entire move Sunday evening.....
Is gonna be a bloody Monday.

But probably short against jpy is safer....election are around the corner.....

U.K. possible national lockdown

https://www.bbc.com/news/uk-54758655