Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#561,301
Nov 26, 2020 5:14am Nov 26, 2020 5:14am

Ksth
| Joined Jun 2012 | Status: Trader | 977 Posts

Haha very nice drop.. Just bought some @1.33455 hahahaha ( that area is weekly resistance become support now) ;-);-);-);-)

#561,302
Nov 26, 2020 5:14am Nov 26, 2020 5:14am

Mcbeaners
Joined Nov 2020 | Status: Trader | 2,850 Posts

ok starting to see tings that make feel a little safer - stops in @ 1.33403 going back to bed.

true to form i'm in too early.

In tea leaves we trust!

#561,303
Nov 26, 2020 5:16am Nov 26, 2020 5:16am

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

will it bounce again , i think not .
last time the dx didn't break , now it is

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yes yes yes

#561,304
Nov 26, 2020 5:18am Nov 26, 2020 5:18am

JayBag
Joined May 2016 | Status: Clueless | 6,896 Posts

Quoting Moty

Disliked

will it bounce again , i think not . last time the dx didn't break , now it is {image} {image} {image}

Ignored

Nice one M, your TL correlates with the top of the bull doji on H1.. Now, that’s a confluence

It’s even clearer now
SS

#561,305
Nov 26, 2020 5:21am Nov 26, 2020 5:21am

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

Goldman Sachs Forecast: Strong Pound Sterling

Trilogy of key Sterling factors over the remainder of 2020

Goldman notes three crucial elements that will determine Sterling direction over the remainder of this year and two of these factors are global in nature which will influence risk appetite.

The first key element will be the US elections on November 3rd with the Presidential and congressional outcomes both important.
If the outcome increases the potential for substantial fiscal stimulus, Sterling will tend to benefit from increased confidence in the global economy. In this context, a Democrat clean sweep would tend to weaken the dollar and support GBP/USD.

The second factor is the potential for a coronavirus vaccine. According to the bank, risk appetite will also strengthen if several of the vaccine candidates are shown to be safe and effective.

The third element will inevitably be Brexit and whether a trade agreement is secured. Goldman considers that the recent acrimonious negotiations are mainly political posturing and it expects that a skinny deal will be agreed.

So who is most likely to be right some random on a trading forum or GS

Follow The Markets Structure - Patience and Discipline

#561,306
Nov 26, 2020 5:22am Nov 26, 2020 5:22am

genadi
Joined Nov 2020 | Status: Trader | 2,471 Posts

Quoting genadi

Disliked

Sold Gu 1.3381 SL 1.3481 risk 1% of acc

Ignored

closed at 1.3353

it seems it wont drop

#561,307
Nov 26, 2020 5:22am Nov 26, 2020 5:22am

D1n3r0
Joined Mar 2017 | Status: Trader | 565 Posts

Typical Holiday type of trading going on. I didn’t start to dislike holidays and weekends until I became a profitable trader. But I guess we all need a break at times. You guys trade safely and happy holiday to the US traders.

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#561,308
Nov 26, 2020 5:23am Nov 26, 2020 5:23am

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

Quoting pipfarm

Disliked

Goldman Sachs Forecast: Strong Pound Sterling Trilogy of key Sterling factors over the remainder of 2020 Goldman notes three crucial elements that will determine Sterling direction over the remainder of this year and two of these factors are global in nature which will influence risk appetite. The first key element will be the US elections on November 3rd with the Presidential and congressional outcomes both important. If the outcome increases the potential for substantial fiscal stimulus, Sterling will tend to benefit from increased confidence...

Ignored

Considering GS are very often wrong & likely wanting to unload into a strong market...

I should probably buy some to help their case.

Que Sera

#561,309
Nov 26, 2020 5:24am Nov 26, 2020 5:24am

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

Quoting pipfarm

Disliked

..... So who is most likely to be right some random on a trading forum or GS

Ignored

I'd have said that would be about 50:50 lol!

Trader with an Edge.

#561,310
Nov 26, 2020 5:25am Nov 26, 2020 5:25am

b_hand
| Joined Sep 2012 | Status: Trader | 580 Posts

Quoting Moty

Disliked

will it bounce again , i think not . last time the dx didn't break , now it is {image} {image} {image}

Ignored

Time will tell US on NY season.

#561,311
Nov 26, 2020 5:27am Nov 26, 2020 5:27am

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

I wouldn't listen to any broker forecast or analysis on any asset, ever.

Make your own analysis, everyone with deep pockets in this game has a motive & the only ones taking any notice of forecasts like those are the pigs that get slaughtered.

Que Sera

#561,312
Nov 26, 2020 5:28am Nov 26, 2020 5:28am

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

Quoting Headland

Disliked

{quote} I'd have said that would be about 50:50 lol!

Ignored

We shall see as in 2019 they were correct 7 out of 10

Personally i use my own analysis and as i have i said already i think its going to be a stretch to get above 3450 weekly resistance, if does then there is a massive supply area waiting just above but you never know in this game

Follow The Markets Structure - Patience and Discipline

#561,313
Nov 26, 2020 5:29am Nov 26, 2020 5:29am

Bartosz77
| Joined Aug 2016 | Status: Trader | 386 Posts

Quoting b_hand

Disliked

{quote} Time will tell US on NY season.

Ignored

Thanksgiving today? What NY session?

#561,314
Nov 26, 2020 5:32am Nov 26, 2020 5:32am

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

Quoting pipfarm

Disliked

{quote} We shall see as in 2019 they were correct 7 out of 10 Personally i use my own analysis and as i have i said already i think its a stretch to get above 3450 weekly resistance if does then there is a massive supply area waiting just above but you never know in this game

Ignored

As long as they are wrong when it matters they are quids in.

Que Sera

#561,315
Nov 26, 2020 5:34am Nov 26, 2020 5:34am

Tim_isoara
Joined May 2009 | Status: trader | 2,034 Posts

Quoting Catempire

Disliked

I wouldn't listen to any broker forecast or analysis on any asset, ever. Make your own analysis, everyone with deep pockets in this game has a motive & the only ones taking any notice of forecasts like those are the pigs that get slaughtered.

Ignored

But 50% fib ret is 1.4297, and 61% fib ret is 1.4980.
Why you don't wait for sell?

#561,316
Nov 26, 2020 5:36am Nov 26, 2020 5:36am

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

"The second factor is the potential for a coronavirus vaccine. According to the bank, risk appetite will also strengthen if several of the vaccine candidates are shown to be safe and effective.

The third element will inevitably be Brexit and whether a trade agreement is secured. Goldman considers that the recent acrimonious negotiations are mainly political posturing and it expects that a skinny deal will be agreed."

Considering vaccines are global i dont think this will have any baring on a movement, up or down.

Is this the conclusions they have come to after 3 years of talking... "acrimonious negotiations are mainly political posturing" ... is that taking into account the various outlets saying its not possible to vote through a EU deal so close to the date ??

Que Sera