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Cable Update (GBPUSD)

  • #560,101
  • Nov 20, 2020 6:09am Nov 20, 2020 6:09am
did you expecting price will roll over to 1.3245-13212???
  • #560,102
  • Nov 20, 2020 6:13am Nov 20, 2020 6:13am
Quoting malcolmb14
{quote} exactly ... well said .. my comment was a joke and no one seemed to have got it ....
Great Friend. Please let respect one another opinion and always have a healthy argument just like what happened this morning without insulting any members indirectly. Every one of us have our own strategies that works for us. It might not be the best. We can always learn from others view about market sentiments. No body is an island of knowledge when it comes to forex trading. We learn everyday. I read every comments here in details and adjust my strategies when needs be. We are to learn, relearn and unlearn in forex. Thanks for your understanding.

My Bias today is still bearish.
  • #560,103
  • Nov 20, 2020 6:14am Nov 20, 2020 6:14am
Quoting malcolmb14
{quote} whole market is acting irrational today ...gold gbp dax and dow a little patience is needed
'The market is never wrong,' it's individual traders/commentators that judge it to be rational or irrational.
Trader with an Edge.
  • #560,104
  • Nov 20, 2020 6:16am Nov 20, 2020 6:16am
Quoting nessus94
{quote} then buy for 160 pips up

hmmm i hear u
Keep the Lights on then you can catch the rise from the dark.
  • #560,105
  • Nov 20, 2020 6:21am Nov 20, 2020 6:21am
expecting the minor TL break ..

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My Endeavour
  • #560,106
  • Nov 20, 2020 6:23am Nov 20, 2020 6:23am
Quoting Maximumheigh
{quote} Great Friend. Please let respect one another opinion and always have a healthy argument just like what happened this morning without insulting any members indirectly. Every one of us have our own strategies that works for us. It might not be the best. We can always learn from others view about market sentiments. No body is an island of knowledge when it comes to forex trading. We learn everyday. I read every comments here in details and adjust my strategies when needs be. We are to learn, relearn and unlearn in forex. Thanks for your understanding....

i respect everyone ...

looking at 60 this can do anything at the moment all Uk we have been coiling like a spring . Lets see what US session does
Blogging daily now at www.volume.zone
  • #560,107
  • Nov 20, 2020 6:25am Nov 20, 2020 6:25am
"just where is the entry who gave us peacful mind." most of my failed trades came from looking for safety at entry. you should be stressed imo. then sell on elation

me leaves are saying da boys are buying, i'm already long but if were looking for an entry maybe 1.326 ish.
In tea leaves we trust!
  • #560,108
  • Nov 20, 2020 6:27am Nov 20, 2020 6:27am
Quoting L.m
{quote} Thanks for your answer. Do you expect the yearly range not to get broken because it's already over 2000 pips? If so that would mean you consider the March low as a normal price printed across the year. I find all your reasoning interesting, but I consider that low an overextended value not to be considered in a time series. If you took May low as the yearly low would you still consider the 2020 range already done? And one last thing, the actual price is at the levels of the end of August when we were far from a Brexit deal, why do you consider...
A weird year 2020 is isn't it? That March low of 1.1408 was not in anyway part of the market makers plan hence there was a sharp rejection back to 1.24 area.

Back to the main question of if year 2020 range is done from perspective of whether 1.1408 (March Low) should be ignored for 1.2073 (May Low). The answer is both levels have strong significance and have been factored in to make my year 2020 bias to maintain current yearly range of 2088 pips.

Connect 1.14 October 2016 flash crash low with this March 1.14 pandemic driven low, this two identical and unplanned lows establishes a case for a first rise to 1.36 area as it happened in September 2017 then 1.43 area as it happened April 2018. That 1.14 has done two legs which provides a strong foundation for a move to 1.36 and 1.43 levels in 2021.

You may also connect 1.19 January 2017 low and 1.19 September 2019 low which met at 1.35 area in September 2017 and December 2019. When price surged to 1.36 in September 2017 and 1.35 in December 2019 swift retracement of 600+ pips occured to 1.30/1.29 area.

Also noteworthy that these two moves (January 2017 to September 2017 and September 2019 to December 2019) contain 1500 - 1600 pips.

Now if we are to pick 1.2073 May low and add 1500/1600 pips, it will give way to price surge 1.35/1.36 a coincidence of above 2017 and 2019 moves. At the same time we can't totally ignore the March low of 1.14 which already stretches the yearly range to 2088 pips as it stands.

As for Brexit deal, the market has been optimistic that a deal will be struck and has led to the surge to this 1.33 area, the market makers will see the sentiments of the retail traders which is to cheer the news of brexit breakthrough and stimulate their buying appetite and that will be a perfect trap to crash the price by 500 pips or more before the inevitable rise to 1.36/1.43 area in the first half of 2021.
Data + Stat + Risk/Emotions Management
  • #560,109
  • Nov 20, 2020 6:36am Nov 20, 2020 6:36am
Need trump to move the price
  • #560,110
  • Nov 20, 2020 6:39am Nov 20, 2020 6:39am
Quoting gatenio
{quote} whole week, no clue, going down period! just where is the entry who gave us peacful mind. this is the big Q
The only entry that will give me peace of mind is by selling at the yearly, monthly or weekly top with modest stake. My most comfortable top for uninterrupted short this November and rest of 2020 will 1.3380.
Data + Stat + Risk/Emotions Management
  • #560,111
  • Nov 20, 2020 6:40am Nov 20, 2020 6:40am
Before the end of the year we likely will see strong initial knee-jerk market reactions to:

1. If a brexit trade deal is struck - upside reaction likely - gbpusd.

2. Relevant approval re vaccines in Uk and U.s...probably more risk on reaction ?

Whether these carry through is open to debate and depends on how the market views the detail of each.
-------------------------------------------------------

Meantime, price struggling to gain upside traction at the prev 1hr sw hi zone leading to today's current 3293 hi. Dly R1 just above that @ 3295 which is in the 4hr/dly part of the prev 1hr/4hr/dly sw hi zone to 3312/14. 1hr part begins circa 3303.
Trader with an Edge.
  • #560,112
  • Nov 20, 2020 6:41am Nov 20, 2020 6:41am
Quoting Georginson
{quote} The only entry that will give me peace of mind is by selling at the yearly, monthly or weekly top with modest stake. My most comfortable top for uninterrupted short this November and rest of 2020 will 1.3380.
so you are targering 1.3 now to 1.34?
  • #560,113
  • Nov 20, 2020 6:44am Nov 20, 2020 6:44am
Quoting gatenio
{quote} so you are targering 1.3 now to 1.34?
I am bearish from 1.32/1.33 area for a minimum target of 1.3000 in the short term for 2020 only. I will be a big bull from 1.29 area targeting 1.36 in the medium term and 1.43 in the long term.
Data + Stat + Risk/Emotions Management
  • #560,114
  • Nov 20, 2020 6:48am Nov 20, 2020 6:48am
Quoting Georginson
{quote} A weird year 2020 is isn't it? That March low of 1.1408 was not in anyway part of the market makers plan hence there was a sharp rejection back to 1.24 area. Back to the main question of if year 2020 range is done from perspective of whether 1.1408 (March Low) should be ignored for 1.2073 (May Low). T.
Weird to say the least. Anyway I get your point, and if you talk about 500 pips it's still more than what I expect but 1.28 area might still be tested again, but 1.000 pips well no I don't think we'll see that level (1.23) at all.

About Brexit, all that happened in the last 2,5 months was driven by news, up and down news, and we are where we started from at the beginning of September and what retailers are doing now is selling not buying.

Overall your long term targets are equal to mine, we will see the next retracement how deep will be
  • #560,115
  • Nov 20, 2020 6:50am Nov 20, 2020 6:50am
price suppose to go up , daily open > daily pivot
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yes yes yes
  • #560,116
  • Nov 20, 2020 6:58am Nov 20, 2020 6:58am
Quoting Headland
Before the end of the year we likely will see strong initial knee-jerk market reactions to: 1. If a brexit trade deal is struck - upside reaction likely - gbpusd. 2. Relevant approval re vaccines in Uk and U.s...probably more risk on reaction ? Whether these carry through is open to debate and depends on how the market views the detail of each. ------------------------------------------------------- Meantime, price struggling to gain upside traction at the prev 1hr sw hi zone leading to today's current 3293 hi. Dly R1 just above that @ 3295 which...
Brexit deal wont happen, I'm expecting a no-deal, they wasted a whole year without making any deal n how on earth will they possibly make a deal within three weeks of r four
I'm enjoying the wins because I was once terrified by loses
  • #560,117
  • Nov 20, 2020 6:59am Nov 20, 2020 6:59am
closer to the TL

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My Endeavour
  • #560,118
  • Nov 20, 2020 7:06am Nov 20, 2020 7:06am
Quoting Erto
{quote} Brexit deal wont happen, I'm expecting a no-deal, they wasted a whole year without making any deal n how on earth will they possibly make a deal within three weeks of r four

I have no idea whether they will or won't but if I was a betting man I would say they will, but really, no idea. The 'mood music'/briefings/updates have been positive lately but I'm not sure you can attach too much credence to them. Re the timescale remaining - well the Eu has a history of going right up to the wire in deal negotiations so that is part of their dna/culture, consequently I don't think that is a particular factor. They love snatching 'victory from the jaws of defeat' or of course 'defeat from the jaws of victory!' Who knows.
Trader with an Edge.
  • #560,119
  • Nov 20, 2020 7:32am Nov 20, 2020 7:32am
ugly crooks , they went for the stop
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yes yes yes
  • #560,120
  • Nov 20, 2020 7:45am Nov 20, 2020 7:45am
no volatility at all.

Closed all my positions, with OK profit.

Now will see if the price goes extreme, preferably UP, to take short trade.
Intraday only.
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