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Cable Update (GBPUSD)

  • #556,581
  • Nov 3, 2020 10:27am Nov 3, 2020 10:27am
Quoting Lock
{quote} Acceptation above 3064 and here we are 2 pips below 30795 last week pit high test: if failure all the way back to 30445. If, again, acceptation, we can see a possible attempt toward 3152 weaknesses. (but considering the structure left below this will be very very risky)
...watch out as it didn't even reach 30795. I want to see this period closed above 3064 for a new attempted test. If not....
Ubi maior minor cessat
  • #556,582
  • Nov 3, 2020 10:29am Nov 3, 2020 10:29am
Quoting TerpFan2
{quote} Good Work, Coreg... My other thought is, this is Just Wave-5 Sell-Off, of Wave-3... Even "if" We only get a "B" back-up, She could become a Wave-5, Instead of Just an A-B-C. -(This whole thing thus far A-B-C), -depending how you lopk at it.
Jeff, anything is possible ... the daily chart gives you a higher target but we don't know as of right now if GU gets there...have a setup TF ( my is 30M but I also follow closely 2H) and be aware of what's going on on higher TF...
Attached Image (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #556,583
  • Nov 3, 2020 10:32am Nov 3, 2020 10:32am
Quoting MoneyZilla
Gold has room to 1925-30, at least. Which hints the Cable might go higher with another 200 pips? edit: plus, this gets better and better... {image}
if you believe Gold will get to 1925-1930 then boldly take a buy and hold it.
  • #556,584
  • Nov 3, 2020 10:42am Nov 3, 2020 10:42am
Quoting Lock
{quote} ...watch out as it didn't even reach 30795. I want to see this period closed above 3064 for a new attempted test. If not....
E period (m30) close above 3064 and here we are at a new test of 30795. If failure above, all the way back to 30445 as a first step. If acceptation above it... well, I see only 3150 zone...
Ubi maior minor cessat
  • #556,585
  • Nov 3, 2020 10:45am Nov 3, 2020 10:45am
Quoting Fredo219
Bought now for 100 pips
TP hit
Patience.....
  • #556,586
  • Nov 3, 2020 10:52am Nov 3, 2020 10:52am
finally it stopped
Attached Image(s) (click to enlarge)
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yes yes yes
  • #556,587
  • Nov 3, 2020 10:52am Nov 3, 2020 10:52am
Quoting Coreg2004
{quote} TV, I know...we have in America a lot of them... {image}
with respect coreg, let's focus on trading.
for me, watching the election the whole night.
may the best win..
all the best for you and always enjoying your great charts!!!
  • #556,588
  • Nov 3, 2020 10:53am Nov 3, 2020 10:53am
Quoting Moty
finally it stopped {image} {image}
lol it couldn't break 1.308
  • #556,589
  • Nov 3, 2020 10:55am Nov 3, 2020 10:55am
Quoting Lock
{quote} E period (m30) close above 3064 and here we are at a new test of 30795. If failure above, all the way back to 30445 as a first step. If acceptation above it... well, I see only 3150 zone...
It eventually failed exactly at 30795 and here we are back to 30445 with one single period as expected. Note that current high is poor (as it is a double tag) and weak as it is a perfect tag of a previous week high. So current liquidation* is correcting the poor structure left below, but carry forward the weakness left above at 30795.

For current liquidation we have huge space downside, but take this market a piece at a time.
Ubi maior minor cessat
  • #556,590
  • Nov 3, 2020 10:56am Nov 3, 2020 10:56am
timber !!!!
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yes yes yes
  • #556,591
  • Nov 3, 2020 10:57am Nov 3, 2020 10:57am
wow 38pips drop , a very healthy sell
  • #556,592
  • Nov 3, 2020 10:57am Nov 3, 2020 10:57am
Now, 3041 is half back of current pit session: is a weak level, with automatic buy action.
Ubi maior minor cessat
  • #556,593
  • Nov 3, 2020 11:00am Nov 3, 2020 11:00am
Quoting Lock
{quote} It eventually failed exactly at 30795 and here we are back to 30445 with one single period as expected. Note that current high is poor (as it is a double tag) and weak as it is a perfect tag of a previous week high. So current liquidation* is correcting the poor structure left below, but carry forward the weakness left above at 30795. For current liquidation we have huge space downside, but take this market a piece at a time.
Medals for this? No? Did you see it? It's market generated information.
Ubi maior minor cessat
  • #556,594
  • Nov 3, 2020 11:01am Nov 3, 2020 11:01am
Quoting Moty
timber !!!! {image} {image}
I hope.. I am holding shorts at 1.2990...
Golden Goose Return This Month: na
  • #556,595
  • Nov 3, 2020 11:01am Nov 3, 2020 11:01am
I am also bored with long short at 1.30569 with sl 1.30641
  • #556,596
  • Nov 3, 2020 11:02am Nov 3, 2020 11:02am
short 1.3059
Sl 1,3080
  • #556,597
  • Nov 3, 2020 11:03am Nov 3, 2020 11:03am
Quoting epzero
wow 38pips drop , a very healthy sell
it's a liquidation, the very opposite of an healthy sell. Weak sellers operated at an exact reference that now is very weak. It's fundamental to distinguish between weak participants and strong ones. This does not mean it cannot continue lower (at all) it means that traders should take note of it for what it is and carry forward this important market generated information.
Ubi maior minor cessat
  • #556,598
  • Nov 3, 2020 11:04am Nov 3, 2020 11:04am
Quoting KiwiTrada
{quote} agree 1 3000 is as good an entry as any, if it fails it fails, but Im in but my sl is not that big!!
Stopped out. This is a big daily candle.
Now I expect price to retrace downward to 1.3000 area before gathering fresh buying momentum to attack 1.3120 area.

UK lockdown ought to be pound negative, US election ought to be USD erratic, here we are having USD on it's knees. I will follow the technicals and aim higher, any drop is a buy for me as 1.3270 is starting to show its face.
Data + Stat + Risk/Emotions Management
  • #556,599
  • Nov 3, 2020 11:06am Nov 3, 2020 11:06am
Stock rallied as well gold
  • #556,600
  • Nov 3, 2020 11:09am Nov 3, 2020 11:09am
Quoting Barnell
{quote} Sorry, do you mind telling us that in hours and minutes? I'm in Europe, have no idea about American time, lol. THanks.

HA HA HA
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