Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#560,641
Nov 24, 2020 3:21am Nov 24, 2020 3:21am

Catempire
Joined Nov 2013 | Status: Only thing to change was the view. | 2,444 Posts

Opened another at 13378

Que Sera

#560,642
Nov 24, 2020 3:21am Nov 24, 2020 3:21am

VM.
| Joined Feb 2020 | Status: Trader | 629 Posts

The interesting thing with movements like yesterday's is that it largely removes resistance and support orders. So reaching 1.338-9 is not difficult for the bulls (as reaching at least 1.333 won't be difficult for bears if tide turns). Breaking 1.34, on the other hand, will be difficult as it was not even properly tested yesterday.

#560,643
Nov 24, 2020 3:23am Nov 24, 2020 3:23am

nessus94
| Commercial User | Joined Sep 2009 | 1,757 Posts

Quoting Catempire

Disliked

{quote} The people making the decisions are wrong & will lose money but you are right because your charts telling you so? Well good luck i guess we find out eventually.

Ignored

yes chart is saying up

i hope you have exit plan

Make money by doing the opposite of Giveachance aka loser

#560,644
Nov 24, 2020 3:24am Nov 24, 2020 3:24am

Catempire
Joined Nov 2013 | Status: Only thing to change was the view. | 2,444 Posts

Quoting nessus94

Disliked

{quote} yes chart is saying up i hope you have exit plan

Ignored

Of course.

SL a decent size above the 15 year trend. Seems like a safe bet to me.

Que Sera

#560,645
Nov 24, 2020 3:26am Nov 24, 2020 3:26am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

Drop it mf

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yes yes yes

#560,646
Nov 24, 2020 3:27am Nov 24, 2020 3:27am

Fix-it
Joined Oct 2019 | Status: Trader | 336 Posts

We had false break up yesterday on a 4hr ascending channel and looks like we are going to get another one now. if the 4hr candle finishes above WR1 1.3405 the long will be my bias or it will drop again and short.

#560,647
Nov 24, 2020 3:29am Nov 24, 2020 3:29am

shux
| Joined Nov 2020 | Status: Trader | 1 Post

bulls?

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100 pips im out !!!

#560,648
Nov 24, 2020 3:31am Nov 24, 2020 3:31am

Catempire
Joined Nov 2013 | Status: Only thing to change was the view. | 2,444 Posts

Quoting Fix-it

Disliked

We had false break up yesterday on a 4hr ascending channel and looks like we are going to get another one now. if the 4hr candle finishes above WR1 1.3405 the long will be my bias or it will drop again and short.

Ignored

I just don't see what strength in conviction there will be for buyers above a 15 year trend 5 weeks away from brexit... can't see 13400 being breached with any conviction.

The considerable / fast sell off yesterday reinforces that imo, many sellers around waiting for the tight sl and huge positioning entry.

Que Sera

#560,649
Nov 24, 2020 3:32am Nov 24, 2020 3:32am

nessus94
| Commercial User | Joined Sep 2009 | 1,757 Posts

Quoting Catempire

Disliked

{quote} Of course. SL a decent size above the 15 year trend. Seems like a safe bet to me.

Ignored

buying is safer imo

Make money by doing the opposite of Giveachance aka loser

#560,650
Nov 24, 2020 3:33am Nov 24, 2020 3:33am

Catempire
Joined Nov 2013 | Status: Only thing to change was the view. | 2,444 Posts

Quoting nessus94

Disliked

{quote} buying is safer imo

Ignored

Buy when its up... sell when its down... Makes sense.

Que Sera

#560,651
Nov 24, 2020 3:36am Nov 24, 2020 3:36am

Whale
Joined Jun 2013 | Status: Trader | 14,544 Posts

if someone really want to sell something. AU.. week to month end.
check it out.

#560,652
Nov 24, 2020 3:39am Nov 24, 2020 3:39am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

Quoting Catempire

Disliked

{quote} I just don't see what strength in conviction there will be for buyers above a 15 year trend 5 weeks away from brexit... can't see 13400 being breached with any conviction. The considerable / fast sell off yesterday reinforces that imo, many sellers around waiting for the tight sl and huge positioning entry.

Ignored

Re buyers conviction and staying above that 13 year descending t/line (2.1162-7188-3482) ...what about this - a likely scenario - Biden gets his $2tr stimulus and a Uk brexit deal happens with Eu, vaccine starts getting distributed, economies start picking up (pent up demand theory) and' risk on' comes back big-time? It's a plausible scenario and would likely give buyers the conviction you talk about. Also the mthly technicals (falling wedge) favour a break and clear and the likely yrly candle does too.

Trader with an Edge.

#560,653
Nov 24, 2020 3:43am Nov 24, 2020 3:43am

nessus94
| Commercial User | Joined Sep 2009 | 1,757 Posts

Quoting Catempire

Disliked

{quote} Buy when its up... sell when its down... Makes sense.

Ignored

yes check euro, check dollar
sell dollar it is worthless paper

Make money by doing the opposite of Giveachance aka loser

#560,654
Nov 24, 2020 3:43am Nov 24, 2020 3:43am

nessus94
| Commercial User | Joined Sep 2009 | 1,757 Posts

Quoting gatenio

Disliked

if someone really want to sell something. AU.. week to month end. check it out.

Ignored

sell dollar

Make money by doing the opposite of Giveachance aka loser

#560,655
Nov 24, 2020 3:45am Nov 24, 2020 3:45am

Catempire
Joined Nov 2013 | Status: Only thing to change was the view. | 2,444 Posts

Quoting Headland

Disliked

{quote} Re buyers conviction and staying above that 13 year descending t/line (2.1162-7188-3482) ...what about this - a likely scenario - Biden gets his $2tr stimulus and a Uk brexit deal happens with Eu, vaccine starts getting distributed, economies start picking up (pent up demand theory) and' risk on' comes back big-time? It's a plausible scenario and would likely give buyers the conviction you talk about. Also the mthly technicals (falling wedge) favour a break and clear and the likely yrly candle does too.

Ignored

I see your reasoning and i agree with it but the timeline to events is..

Brexit dealine has passed to get any meaningful vote through the EU... it was set to be last friday... currently it is just noise.

Biden doesn't get into power until 20th January so no stimulus tomorrow...

Brexit happens at the end of the year...

Economy will pick up once vaccine gets distributed but that will on the large part be post brexit...

Down then Up.

Que Sera