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Cable Update (GBPUSD)

  • #560,261
  • Nov 22, 2020 1:56pm Nov 22, 2020 1:56pm
Quoting JayBag
{quote} I’m all good buddy. It’s been a long minute I must agree .. Hope you well.. Asper the confrontations, I’d say it’s getting better yerrr.. A few weeks ago was something else.. That’s fact! Price goes where it wants regardless of our arguments.. I am with you on the bull side till 1.38 before any meaningful retrace.. New week ahead of us, let’s see how it goes StaySafe bro
Yes all is good here. Thanks God! Crazy month buddy. Crazy PA. Trump may be a bad boy but we made bucks here didn’t we?!
1.38? Yeah why not! I believe it can touch at least 1.37, but you know that’s not gonna go straight up. So there will be a chance for selling as well.
Yea let’s see how it goes.
Stay safe too bro. Really nice to see you again
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #560,262
  • Nov 22, 2020 3:38pm Nov 22, 2020 3:38pm
Attached Image (click to enlarge)
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  • #560,263
  • Nov 22, 2020 3:52pm Nov 22, 2020 3:52pm
Here's my take on the GBPUSD as a technical, swing trader. Technically, price action on the H4 time frame is still disposed northward, respecting the inner rising trendline seen on the daily time frame (blue). However, the ‘wicky’ candlestick prints of recent price action indicate a decline in bullish momentum as price action approaches the 1.33500 horizontal resistance. It may take a significant breakout of the 1.33500 area, including a retest for a role flip, before we can have confidence in a bullish directional momentum. Success in that respect may see bulls target the 1.34800 handle (magenta).

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
  • #560,264
  • Nov 22, 2020 4:46pm Nov 22, 2020 4:46pm
Quoting KeenPips
Here's my take on the GBPUSD as a technical, swing trader. Technically, price action on the H4 time frame is still disposed northward, respecting the inner rising trendline seen on the daily time frame (blue). However, the ‘wicky’ candlestick prints of recent price action indicate a decline in bullish momentum as price action approaches the 1.33500 horizontal resistance. It may take a significant breakout of the 1.33500 area, including a retest for a role flip, before we can have confidence in a bullish directional momentum. Success in that respect...
Master piece of work
That’s my teacher. Thanks for sharing KP. Keep up the master work
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #560,265
  • Nov 22, 2020 4:51pm Nov 22, 2020 4:51pm
GU opens just below 1.33. Can it clearly break a strong resistance of 1.33 in Asia? It would be hugely bullish, but also very difficult. At the same time, there seems to be no appetite for a drop lower. So I wonder what price will do for the rest of Asian session? It cannot just trade with 5-10 pip range for the whole session, can it? Maybe some news will come to produce a drop...
  • #560,266
  • Nov 22, 2020 4:56pm Nov 22, 2020 4:56pm
Hi All,

I think GBPUSD could be short from 1.33, very strong resistance. I am expecting some bearish price action before I enter this trade, but I think it has some good chances to drop down to 1.32~ or so.
  • #560,267
  • Nov 22, 2020 5:01pm Nov 22, 2020 5:01pm
Quoting VM.
GU opens just below 1.33. Can it clearly break a strong resistance of 1.33 in Asia? It would be hugely bullish, but also very difficult. At the same time, there seems to be no appetite for a drop lower. So I wonder what price will do for the rest of Asian session? It cannot just trade with 5-10 pip range for the whole session, can it? Maybe some news will come to produce a drop...
Asian session is mostly meaningless for the pound...whatever they do in 10 hours, London can reverse in 10 minutes.
Everyone can see the chart, but only a few can actually read it.
  • #560,268
  • Nov 22, 2020 5:05pm Nov 22, 2020 5:05pm
Quoting OnlineAddict
{quote} Asian session is mostly meaningless for the pound...whatever they do in 10 hours, London can reverse in 10 minutes.
Most of the time, yes. But when it breaks a strong support/resistance, it is usually very important, exactly because it is difficult to do with low liquidity.
  • #560,269
  • Nov 22, 2020 5:13pm Nov 22, 2020 5:13pm
Quoting VM.
{quote} Most of the time, yes. But when it breaks a strong support/resistance, it is usually very important, exactly because it is difficult to do with low liquidity.
I mostly saw the opposite, if asia broke up or down, especially during early week trading, price was mostly "back" when I woke up. To me, its just an opportunity to counter trade those moves. Asia doesn't decide on direction, London with NY do.

They just broke friday's top, before Tokyo even...to me, shorting this, is like finding money on the street. Easy cashout during London.
Everyone can see the chart, but only a few can actually read it.
  • #560,270
  • Nov 22, 2020 5:19pm Nov 22, 2020 5:19pm
hmm.. add sell again.. im building my short position..

low volume price up.. hmm there's something hidden.. guess what..
Trade what you see, not what you think.. react and stay sharp..
  • #560,271
  • Nov 22, 2020 5:26pm Nov 22, 2020 5:26pm
Quoting OnlineAddict
{quote} I mostly saw the opposite, if asia broke up or down, especially during early week trading, price was mostly "back" when I woke up. To me, its just an opportunity to counter trade those moves. Asia doesn't decide on direction, London with NY do. They just broke friday's top, before Tokyo even...to me, shorting this, is like finding money on the street. Easy cashout during London.
You are most probably right, but today I would be cautious. I don't like this PA; and Asia did break 1.32 last week.
  • #560,272
  • Nov 22, 2020 5:31pm Nov 22, 2020 5:31pm
Quoting VM.
{quote} You are most probably right, but today I would be cautious. I don't like this PA; and Asia did break 1.32 last week.
Yes, it did, but GU was bottoming on friday before that, so it wasn't as surprising. Today, I think I will wake up to GU being around 3260 or less.
Everyone can see the chart, but only a few can actually read it.
  • #560,273
  • Nov 22, 2020 5:59pm Nov 22, 2020 5:59pm
ny boyz couldn't get it on but asian boyz can. moving up as expected. defo going over 1.33128 and do some stop hunting. after that we'll see.

i optimistically have my sell order @ 1.33667..

we'll see.
In tea leaves we trust!
  • #560,274
  • Nov 22, 2020 7:14pm Nov 22, 2020 7:14pm
Took short at resistance area after tp was hit at 1.33000 from last week
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yes yes yes
  • #560,275
  • Nov 22, 2020 7:15pm Nov 22, 2020 7:15pm
Everyone’s still banking on the GU drop yet we’re holding above a “important level” during Asian session

I wouldn’t be surprised if we hit 1.34 this week
  • #560,276
  • Nov 22, 2020 7:32pm Nov 22, 2020 7:32pm
the price now broke the resistance, could drop close to 3300 R1 level, b4 another thrust up.

My calculations of short went wrong at 3300

Price now at R2
Intraday only.
  • #560,277
  • Nov 22, 2020 8:24pm Nov 22, 2020 8:24pm
https://www.forexfactory.com/thread/...8#post13275688
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #560,278
  • Nov 22, 2020 8:28pm Nov 22, 2020 8:28pm
being bought here - still might dip though.
In tea leaves we trust!
  • #560,279
  • Nov 22, 2020 8:32pm Nov 22, 2020 8:32pm
Reversal is going sooner . Hope im right . Sl 1.3350
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  • #560,280
  • Nov 22, 2020 9:50pm Nov 22, 2020 9:50pm
Quoting tiborf71
{quote} yes, almost everyone here thinks about where the price will go in the future and opens a position based on that. I do not.
same way i trade .. trend alignment on multi time frames look for the entry on a test
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