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Cable Update (GBPUSD)

  • #556,081
  • Edited 3:02pm Nov 1, 2020 2:50pm | Edited 3:02pm
I did not (and do not) expect a large gap. I don't think there was a gap bigger than 40 pips up or down in the last year, with some of the weekend news much more important than a lockdown (which was expected anyway). BUT: this does not mean that price won't be heading down aggressively. Some of the Mondays following negative news started with a small gap down and then big (circa 200pips) movements.
  • #556,082
  • Nov 1, 2020 3:03pm Nov 1, 2020 3:03pm
Posted this in The Swamp about Cable's potential gap down:
Quoting Barnell
{quote} Should happen. Although it seems like it won't be that huge. Maybe 30 pips.

Let's see..
I will tear the world apart for you.
  • #556,083
  • Nov 1, 2020 3:06pm Nov 1, 2020 3:06pm
Quoting BeeTogether
https://www.forexfactory.com/news/10...ng-key-impasse this maybe why the cable went up
I am convinced that Bloomberg is manipulating the prices. I lost count how many times they reported a "breakthrough" in Brexit talks.
  • #556,084
  • Nov 1, 2020 3:10pm Nov 1, 2020 3:10pm
Quoting VM.
{quote} I am convinced that Bloomberg is manipulating the prices. I lost count how many times they reported a "breakthrough" in Brexit talks.
Media will write whatever for the right amount. You can submit an article saying the opposite, if you pay the right amount, they will definitely print it. Thats how media works these days.
Everyone can see the chart, but only a few can actually read it.
  • #556,085
  • Nov 1, 2020 3:12pm Nov 1, 2020 3:12pm
Quoting OnlineAddict
{quote} Media will write whatever for the right amount. You can submit an article saying the opposite, if you pay the right amount, they will definitely print it. Thats how media works these days.
Indeed. The media is the most powerful weapon in today's age.
I will tear the world apart for you.
  • #556,086
  • Nov 1, 2020 3:22pm Nov 1, 2020 3:22pm
Quoting Barnell
{quote} Indeed. The media is the most powerful weapon in today's age.
Your personality and situation is the most powerful commodity today. Its just whether or not one is intelligent enough to realize what is logical and what is fabrication or BS.

What has been proven is that if you even have an inclining to a view, data can be pumped to you to persuade you to actually start to believe the false narratives that exist. Outside of normal logic.

Its basically fucking scary.
  • #556,087
  • Nov 1, 2020 3:33pm Nov 1, 2020 3:33pm
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hey guy's some help with my TA is that a false flag ?
  • #556,088
  • Nov 1, 2020 3:56pm Nov 1, 2020 3:56pm
If you are tracking the GBPUSD this week, consider this technical perspective. Price action on the H4 time frame is bearing southward within a descending channel (black). It is presently below the 1.30400 horizontal support seen on the monthly time frame. A bearish continuation is likely to target the support trendline (blue) of the rising channel seen on the weekly time frame. I am more bearish GBPUSD than bullish.


I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #556,089
  • Nov 1, 2020 4:13pm Nov 1, 2020 4:13pm
No major drop yet. Looks like it will be in the morning when European markets open
Insane in the Brain..
  • #556,090
  • Nov 1, 2020 4:33pm Nov 1, 2020 4:33pm
Keep in mind on Friday GU made ID so high or low will be tested...it happens 92-94% of the time...of course, the second ID is possible but it's a very rare occurrence. Only 6-8% of the time both (H and L) ends of the prior day are tested on the same day but we don't have a pattern of how these days are distributed so it can happen anytime...
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Always trade your own plan...I don't provide trading signals.
  • #556,091
  • Nov 1, 2020 4:59pm Nov 1, 2020 4:59pm
Looks bearish
Compulsions can be hard to resist
  • #556,092
  • Nov 1, 2020 5:30pm Nov 1, 2020 5:30pm
Quoting VM.
{quote} I am convinced that Bloomberg is manipulating the prices. I lost count how many times they reported a "breakthrough" in Brexit talks.
Reuters are better
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #556,093
  • Nov 1, 2020 6:39pm Nov 1, 2020 6:39pm
Quoting KiwiTrada
{quote} not so much buying usd more like buying the only safe haven normally money in crisis used to go to usd, yen, franc gold or oil, this virus bs pretty much killed gold & oil, snb and boj have been buying us bonds ad nauseum as has china since 2008 again 2014 only one left was usd, stirling is in brexit bs, wish you well on your short Im short all the girls tonight fo me was about positioning for the months close, monthly chart is soo interesting massive falling utl gave an almost pip perfect entry last month, there is expanding chanel from...
swissy @ resistance last weeks high 9171 should easily get to 9200 (that will be real test) eu @ support last weeks low 1 1639 (could be tough to break) if so should cruise to 1 1611 (that will be longer term test could be interesting day/week
If you are new to Forex? Say Goodbye to your account!!
  • #556,094
  • Nov 1, 2020 6:50pm Nov 1, 2020 6:50pm
Quoting KiwiTrada
{quote} swissy @ resistance last weeks high 9171 should easily get to 9200 (that will be real test) eu @ support last weeks low 1 1639 (could be tough to break) if so should cruise to 1 1611 (that will be longer term test could be interesting day/week
cad next test 1 3400 cable (gap is interesting) no closure could target 1 2900 if can make break 1 2880 fresh air below, is presently flirting with ltl of rising chanel so some work to do aussie attacking psych 7000 kiwi 6600 psych looks like bearish week ahead :-)
If you are new to Forex? Say Goodbye to your account!!
  • #556,095
  • Nov 1, 2020 7:31pm Nov 1, 2020 7:31pm
Good morning everyone..

Inserted Video
I will tear the world apart for you.
  • #556,096
  • Nov 1, 2020 8:03pm Nov 1, 2020 8:03pm
after all the promises , that is all the gap ?
i am still in small loss
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yes yes yes
  • #556,097
  • Nov 1, 2020 8:13pm Nov 1, 2020 8:13pm
Quoting Moty
after all the promises , that is all the gap ? i am still in small loss {image}
Lol, did told you guys not to get overly excited...
I will tear the world apart for you.
  • #556,098
  • Nov 1, 2020 8:34pm Nov 1, 2020 8:34pm
IG weekend chart showed cable went down below 1.2800 Sunday
  • #556,099
  • Nov 1, 2020 8:54pm Nov 1, 2020 8:54pm
Quoting mw4121
IG weekend chart showed cable went down below 1.2800 Sunday
For the rest of the world 1.2800 don't exist.
  • #556,100
  • Nov 1, 2020 9:14pm Nov 1, 2020 9:14pm
Quoting mw4121
IG weekend chart showed cable went down below 1.2800 Sunday
Sweetheart, if your sell didn't tp at 1.2800, then it doesn't mean much. Just saying.
I will tear the world apart for you.
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