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Cable Update (GBPUSD)

  • #557,761
  • Nov 8, 2020 9:55am Nov 8, 2020 9:55am
Quoting BeeTogether
{quote} {image}
What's DFB?
I will tear the world apart for you.
  • #557,762
  • Nov 8, 2020 10:02am Nov 8, 2020 10:02am
Quoting Wavegarrick
{quote} Kampion, firstly, by asking all these questions, you are putting me at risk of promoting a different service. I don't promote anything but merely trying to help fellow traders. I have done this selflessly for many years and would like to keep it at that. Do your due diligence and search the forum. Cheers Friend.
I'll just assume you're using the same username on the other forum.
You can do it!
  • #557,763
  • Nov 8, 2020 10:26am Nov 8, 2020 10:26am
Quoting joesherwood
Hello all. This is a new article I have put together regarding technical analysis and market structure, it gives readers an insight on how I personally look at the charts whilst also including some of my trades also. It’s about a 10 minute read. Thankyou for your time if you do read it. Any feedback please send it via DM, I would greatly appreciate it. This not an advertisement whatsoever, its free to view and i get nothing from it, its for those who are on the platform to seek some help. https://joeshrwood.medium.com/education-9cb3b9fc0463...


Good article but what you have written about is not market structure , they are merely chart patterns that when traded alone with out proper understanding of market structure can lead to cumulative losses, we all know the traders here that see h&s , triangles etc all over the place and think they should just jump in to a trade because of the pattern and end up losing, those patterns alone will not make a trader successful.
Follow The Markets Structure - Patience and Discipline
  • #557,764
  • Nov 8, 2020 10:30am Nov 8, 2020 10:30am
Quoting Wavegarrick
{quote} Hi Guys, My View with an extra topping on my pizza for the coming week. If it does not work out I will eat that whole Pizza and order an extra-large pizza with a double topping and drown my sorrows in that. There is a good chance that my future weekly pivot at 1.30575 ish could be tested and if a break below we could be set for a correction downwards. I do not act impulsively but rather on confirmation. X-mas is around the corner so a good time to have a X-mas tree. Have a great week...

Good job Wagergarrick, always like the way you look for confirmation based on you analysis and not just blind faith that your right, a lesson for many to be learnt here.
Follow The Markets Structure - Patience and Discipline
  • #557,765
  • Nov 8, 2020 11:05am Nov 8, 2020 11:05am
These currencies seem to be slow like a tortoise march ... I don't have as many expectations when the market opens .... in fact I don't have as many expectations for good movements in Forex this year.
  • #557,766
  • Nov 8, 2020 12:30pm Nov 8, 2020 12:30pm
Well, I guess from the technical perspective, situation is very clear. We are just below important resistance levels for EU and GU, 1.9 and 1.318 respectively. If these are broken, it's hard to see how we can avoid further USD slip to 1.2/1.33 at least. Even more so if they are broken in Asian session which usually respects strong support/resistance. Failure to break may start a significant correction.
  • #557,767
  • Nov 8, 2020 12:35pm Nov 8, 2020 12:35pm
Quoting VM.
Well, I guess from the technical perspective, situation is very clear. We are just below important resistance levels for EU and GU, 1.9 and 1.318 respectively. If these are broken, it's hard to see how we can avoid further USD slip to 1.2/1.33 at least. Even more so if they are broken in Asian session which usually respects strong support/resistance. Failure to break may start a significant correction.
If it broke during asian session, it would be a fakeout, not a confirmation of anything.
Everyone can see the chart, but only a few can actually read it.
  • #557,768
  • Nov 8, 2020 12:50pm Nov 8, 2020 12:50pm
Quoting OnlineAddict
{quote} If it broke during asian session, it would be a fakeout, not a confirmation of anything.
Maybe you are right, although in my experience, if breaks of important levels happen before Frankfurt, they are followed by a bigger move in the same direction in European session.
  • #557,769
  • Nov 8, 2020 12:58pm Nov 8, 2020 12:58pm
Quoting VM.
{quote} Maybe you are right, although in my experience, if breaks of important levels happen before Frankfurt, they are followed by a bigger move in the same direction in European session.
After friday's topping, it can only break important levels on the way down. Big boys often use friday as an entry into next week.
Everyone can see the chart, but only a few can actually read it.
  • #557,770
  • Nov 8, 2020 1:06pm Nov 8, 2020 1:06pm
Quoting OnlineAddict
{quote} After friday's topping, it can only break important levels on the way down. Big boys often use friday as an entry into next week.
There is only one way and thats up dude; still dont get it? Dear..

I'm looking for some donkey picture but cant find any(..)

  • #557,771
  • Nov 8, 2020 1:10pm Nov 8, 2020 1:10pm
Quoting FreakingDon
{quote} There is only one way and thats up dude; still dont get it? Dear..
Kpmg is now buying? Best time to sell then...this guy was selling GU below 1.20, EU below 1.0350, bitcoin below 20,000 and now he is buying GU above 3150, makes you think how he always finds the worst spots to buy/sell, but he just does.
Everyone can see the chart, but only a few can actually read it.
  • #557,772
  • Nov 8, 2020 2:02pm Nov 8, 2020 2:02pm
Quoting OnlineAddict
{quote} After friday's topping, it can only break important levels on the way down. Big boys often use friday as an entry into next week.
I am short myself but with much less conviction.
  • #557,773
  • Nov 8, 2020 2:05pm Nov 8, 2020 2:05pm
Investing.com quotes current Cable at 1.3170.
I will tear the world apart for you.
  • #557,774
  • Nov 8, 2020 2:09pm Nov 8, 2020 2:09pm
Quoting VM.
{quote} Maybe you are right, although in my experience, if breaks of important levels happen before Frankfurt, they are followed by a bigger move in the same direction in European session.
I'm more for a failure of this upward move. Retest of 3000, I would say lower, but dollar is very weak. I prefer short GJ right now.
This has reached my first point of failure, that is current price, above that there is a second step (don't remember the price as I'm not with laptop now).
If break above the second, it means gbp is strongly supported and there is a fundamental move behind that normally, and, at the current situation, I don't see this support now, considering all the troubles ahead for gbp.

So from here to year end, I expect more swings up and down with a constant revisit of the area 2800/3200.

If u look back in the chart (last 2 years) price likes to flactuate between 2700 and 3400 ( except some strong fundamental that makes go the price above or behind.
Looks like there is a sort of equilibrium in this area
Twitter: Rummer_grapes
  • #557,775
  • Nov 8, 2020 2:26pm Nov 8, 2020 2:26pm
Quoting FreakingDon
{quote} There is only one way and thats up dude; still dont get it? Dear.. I'm looking for some donkey picture but cant find any(..)

Some days ago, I drew this donkey/character/mascot and he has no name... Maybe you can use it for your purposes?
Attached Image (click to enlarge)
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Under my explicid request. My daughter drew these two donkeys. I call them Nextass and Barnass. Two entirely fictional characters. Any connections with real individuals or people, is nothing different than a pure chance and quite unfortunate coincidence...
Attached Image (click to enlarge)
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Maadik Hugiis. IQ 69.
  • #557,776
  • Nov 8, 2020 2:35pm Nov 8, 2020 2:35pm
Quoting Bacco
{quote} I'm more for a failure of this upward move. Retest of 3000, I would say lower, but dollar is very weak. I prefer short GJ right now. This has reached my first point of failure, that is current price, above that there is a second step (don't remember the price as I'm not with laptop now). If break above the second, it means gbp is strongly supported and there is a fundamental move behind that normally, and, at the current situation, I don't see this support now, considering all the troubles ahead for gbp. So from here to year end, I expect...
Agree, but fundamentals are strong. Brexit, corona, US stimulus and general perception of next US administration are all big market movers. So I do expect that we step outside of this area in the next two months, even if temporarily.
  • #557,777
  • Nov 8, 2020 3:04pm Nov 8, 2020 3:04pm
Quoting MoneyZilla
{quote}My daughter drew these two donkeys. I call them Nextass and Barnass
Beautifull paintings!

I finally found the right one now lol
Attached Image
  • #557,778
  • Nov 8, 2020 3:27pm Nov 8, 2020 3:27pm
Quoting Barnell
Investing.com quotes current Cable at 1.3170.
Now back to 1.3148 as per CNBC
  • #557,779
  • Nov 8, 2020 3:32pm Nov 8, 2020 3:32pm
I will not be entering the GBPUSD market this week until I see a momentum shift. Here's why, from the technical perspective of a swing trader. The GBPUSD has been largely sideways for a while. On the daily time frame, price action is operating within the 1.28500/1.31800 zone. Presently, it is located around the 1.31800 horizontal resistance, where it printed an indecision candlestick last Friday. Personally, as a swing trader, I will not be looking to trade this pair until there is a momentum candlestick print on the daily time frame.


I may be wrong. Trade safe and prosper.


KP

Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #557,780
  • Nov 8, 2020 3:36pm Nov 8, 2020 3:36pm
Quoting fxmasterdxb
{quote} Now back to 1.3148 as per CNBC
Ys, I'm on CNBC as well.

CNBC and Investing.com seems to give fairly close/similar quotes.
I will tear the world apart for you.
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