Cable Update (GBPUSD)

Quoting JayBag

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{quote} Hi George, Short? I’d like to think it’s high risk shorting at this point even though it’s for swings (my opinion).. It’s past the 15th (half of the month) which means all retraces are probably done and time for continuation. 1.50 is a target but ofcause not a straight line.. Maybe we can get 1.38 this time without little or no reasonable retrace? BTW, what’s your exit point if bears don’t come to play? And what’s your target if bears comes to play? StaySafe

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Quoting pipcenturion

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{quote} Excellent entry! Hold the trade for more pips. {image}

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Quoting pipcenturion

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{quote} Excellent entry! Hold the trade for more pips. {image}

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Quoting Arief-

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Short 1.3225 SL 25p1.3250 {image}

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Quoting Georginson

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{quote} Hello Jay, the trend is clearly bullish in the long term, while i only want to capitalize on my short and medium term outlook which points at 1.2960/3010 area as my short position target. The risk reward for the remaining part of 2020 clearly gives me a bearish outlook considering that the pair trades close to the yearly top and the distance to the yearly low is 1860 pips as i type. The short and medium term perspective of 1.2960/1.3010 is limited to year 2020 only which has only 6 weeks left. As for the long term perspective i clearly see...

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Quoting fxmasterdxb

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{quote} TP 1 done I can see today’s high around 1.33, however, i will exit the remaining part of my position on 1.3285 or maybe a bit earlier

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Quoting fxmasterdxb

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{quote} Out at 1.3259, seems we will some retrace might buy lower

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Quoting ChiForex

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Damn these days we reached that market price mostly stops at random resistances/supports. How lovely were the old days when market price was nicely touching the expected levels and retreating..

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Quoting Bacco

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{quote} 3221 might be considered for another 20 pips jump up

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Quoting Headland

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{quote} Sometimes these swing points (on whatever t/f's) may seem random to us - but it probably just means that our respective potential supp/res analysis hasn't highlighted those areas, or maybe some are just random ? Whatever the case - there are still enough reactions to pre-identified obvious areas of potential supp/res to make intraday or longer t/f swing trading a profitable option. The reaction at the current dly hi is a good example - supply at the bottom of that prev 1hr sw hi zone - a prev price pivot that had seen supply seeing supply...

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Quoting pipfarm

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I see no reason for me to exit this trade, as its a daily minor wave there will be minor pullbacks on the 4H which are a good opp to add in long and as i entered this trade on the break of the 4H triangle 3230 i will most probably ride this to the top looking for an exit on daily.

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Quoting Headland

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{quote} Sometimes these swing points (on whatever t/f's) may seem random to us - but it probably just means that our respective potential supp/res analysis hasn't highlighted those areas, or maybe some are just random ? Whatever the case - there are still enough reactions to pre-identified obvious areas of potential supp/res to make intraday or longer t/f swing trading a profitable option. The reaction at the current dly hi is a good example - supply at the bottom of that prev 1hr sw hi zone - a prev price pivot that had seen supply seeing supply...

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