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Cable Update (GBPUSD)

  • #555,941
  • Oct 31, 2020 9:24am Oct 31, 2020 9:24am
Hey guys
Im expecting some up move in Gbp in the first days of the week, usdidx needs to retrace and its already starting to retrace in my view..
I would say 1.28000 or below next week

That image was me yesterday doing some scalp counter trend
Good weekend guys be safe

(found this ahahah enjoy comedy)

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  • #555,942
  • Oct 31, 2020 9:42am Oct 31, 2020 9:42am
Where can I access the 12 hour time frame chart on mobile phone. I am not on computer & in fact I don't own one.

Not sure it is available on mobile mt5
  • #555,943
  • Edited 11:22am Oct 31, 2020 10:06am | Edited 11:22am
... Thinking about the 3 upcoming major event risks and their most probable outcomes and most probable effects on the gbpusd;

1. Probable England Covid 2nd Lockdown (announcement today ?) - reportedly more probable than not - most probable affect on gbpusd = price falls.
2. U.s Election - Biden win more probable according to polls (!) - most probable affect on gbpusd = price rises (ie $ weakens.)
3. Brexit deal - more probable than not according to latest reports - most probable affect on gbpusd = price rises.

This is just the perceived wisdom but of course, anything can happen re outcome of these event risks and indeed, the reaction of price to the outcomes.

What affect though these 3 things happening in close proximity to each other (other than the initial knee-jerk reaction?) Trade what you see.
Trader with an Edge.
  • #555,944
  • Oct 31, 2020 10:17am Oct 31, 2020 10:17am
Quoting silolo
Where can I access the 12 hour time frame chart on mobile phone. I am not on computer & in fact I don't own one. Not sure it is available on mobile mt5
Ok got what I needed. I downloaded ICM ctrader
  • #555,945
  • Oct 31, 2020 10:27am Oct 31, 2020 10:27am
According to IG's weekend trading, down 67 pips.

https://www.ig.com/en/indices/market...ekend%20GBPUSD
I will tear the world apart for you.
  • #555,946
  • Oct 31, 2020 10:40am Oct 31, 2020 10:40am
Quoting Moty
{quote} i trade 200 $ with 100% used margin . it's the same as trading 2000 $ account with 10% used margin . i know my limitations . i will always end up putting all my money in use , so i keep my account always with small amount
OK. The account is the stop limit. Fair enough. Good luck.
  • #555,947
  • Oct 31, 2020 10:42am Oct 31, 2020 10:42am
Quoting HBN08
Hey guys Im expecting some up move in Gbp in the first days of the week, usdidx needs to retrace and its already starting to retrace in my view.. I would say 1.28000 or below next week That image was me yesterday doing some scalp counter trend Good weekend guys be safe (found this ahahah enjoy comedy) https://www.youtube.com/watch?v=BDqR...ist=LL&index=3 {image}
Now is 67 pips down.
  • #555,948
  • Oct 31, 2020 10:43am Oct 31, 2020 10:43am
Quoting Headland
... Thinking about the 3 upcoming major event risks and their most probable outcomes and most probable effects on the gbpusd
Brexit deal is far from certain; mood is more positive, but issues are unresolved. I am also not sure Biden win is that negative for dollar; stimulus would be, but it is not likely to come until January, and two months is a long time. And contested election will be dollar-positive for sure.

There is also a small matter of BOE and Fed meetings on November 5.
  • #555,949
  • Oct 31, 2020 11:10am Oct 31, 2020 11:10am
Quoting Tim_isoara
{quote} Now is 67 pips down.
My broker dont shows me price mov when is closed..
Just my view sir overall i still belive next week will be more down agressive move but expecting retrace first
  • #555,950
  • Oct 31, 2020 11:12am Oct 31, 2020 11:12am
1 month lockdown in UK until 2nd Dec
I play the trade gamble to feed my Porsche addiction.
  • #555,951
  • Edited 12:22pm Oct 31, 2020 11:18am | Edited 12:22pm
Quoting VM.
{quote} Brexit deal is far from certain; mood is more positive, but issues are unresolved. I am also not sure Biden win is that negative for dollar; stimulus would be, but it is not likely to come until January, and two months is a long time. And contested election will be dollar-positive for sure. There is also a small matter of BOE and Fed meetings on November 5.

There are so may many possible specific outcomes - ie the devil is in the detail of each. I am not sure any of them are a binary outcome possibility. Eg; what if Biden wins but Trump contests it and stays put ,? what if deal is done re Brexit but there is suprise element in it,? What if a 2nd lockdown is announced with loads of exceptions etc etc.... Which is why the best advice is always to trade what we see.

Re Biden win specifically, I agree. He is more likely to get control over Covid than Trump which is good economically, but then there is the stimulus thing etc etc..
Trader with an Edge.
  • #555,952
  • Oct 31, 2020 2:35pm Oct 31, 2020 2:35pm
Quoting fxmasterdxb
{quote} According to ig, cable is currently at 1.2855! If uk announces lockdown then huge gap is definitely coming!
1 month full lockdown is implemented, expect at least 100 pips gap on Monday
  • #555,953
  • Oct 31, 2020 2:43pm Oct 31, 2020 2:43pm
Quoting Headland
Re Biden win specifically, I agree. He is more likely to get control over Covid than Trump which is good economically, but then there is the stimulus thing etc etc..
How will Biden get control over covid? Look at the democrat run states...its a complete disaster there, from both covid and the rioting. Each state is managed by their elected officials, they don't have do what Trump says or wants, they just use him as an excuse when they mess something up.
Everyone can see the chart, but only a few can actually read it.
  • #555,954
  • Oct 31, 2020 2:46pm Oct 31, 2020 2:46pm
Quoting Barnell
According to IG's weekend trading, down 67 pips. https://www.ig.com/en/indices/market...ekend%20GBPUSD
i aimed for 60 $ profit , tp at 1.28800
now i will take more , 100 $
Boris Johnson , thank you for calling home
yes yes yes
  • #555,955
  • Oct 31, 2020 2:48pm Oct 31, 2020 2:48pm
Quoting fxmasterdxb
{quote} 1 month full lockdown is implemented, expect at least 100 pips gap on Monday
What will happen to gold?
I will tear the world apart for you.
  • #555,956
  • Oct 31, 2020 2:50pm Oct 31, 2020 2:50pm
Quoting Moty
{quote} i aimed for 60 $ profit , tp at 1.28800 now i will take more , 100 $ Boris Johnson , thank you for calling home
Hey Moty, could you help me with a question I have here? Thanks.

Also, good luck, a gap down is likely to happen so you should get your TP. Whether or not it recovers remains to be seen.
I will tear the world apart for you.
  • #555,957
  • Oct 31, 2020 3:04pm Oct 31, 2020 3:04pm
should I massively short gbp on Monday opening to grab 50 - 100 pips?
  • #555,958
  • Oct 31, 2020 3:08pm Oct 31, 2020 3:08pm
Looks like as soon as we open it’s a short trade!
Insane in the Brain..
  • #555,959
  • Oct 31, 2020 3:14pm Oct 31, 2020 3:14pm
Quoting Barnell
{quote} What will happen to gold?
Thats another story Im expecting a bit further push up before the “big drop”
  • #555,960
  • Oct 31, 2020 3:16pm Oct 31, 2020 3:16pm
gbp/Usd currently around 1.2865, should have room to drop further. so was wondering if I should massively short on Monday morning. what ya guys think?
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