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Cable Update (GBPUSD)

  • #561,361
  • Nov 26, 2020 8:10am Nov 26, 2020 8:10am
Quoting shahab8b
{quote} Yea, you're right. I read this the other day. Some may find it interesting. {image}
IMO.

Important snippet of the BOA statement to note is the fact the UK spin (to the General Public) that a deal is within reaching distance... but the EU doesn't share this same optimism.

The UK government then has a rather large get out of Jail card to use on the UK public to keep them onside.

"Talks fell apart because of the EU"

There really has never been any intention of a meaningful deal as the UK government are stubborn and the hard right want a No deal.
Que Sera
  • #561,362
  • Nov 26, 2020 8:10am Nov 26, 2020 8:10am
...steepest asc 1hr/4hr t/line breeched to downside...price has reached 50% of the 3263-3398 rise...that 4hr/dly rising wedge bottom looks vulnerable now circa 3320. 1hr below. So far today 58% of 30 day adr travelled.
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Trader with an Edge.
  • #561,363
  • Nov 26, 2020 8:11am Nov 26, 2020 8:11am
Quoting gatenio
4hour bears made amazing achievement by taking the sw zone down. daily S1 - 1.333 is the target. as moty like to say.. THE DROP IS COMING.. 30-40 pips {image}
we are here..
  • #561,364
  • Nov 26, 2020 8:28am Nov 26, 2020 8:28am
looking at the tape, there's nothing to draw a conclusion from. not enough volume for me. uk can drift it anywhere. what happens tomorrow will probably tell us more.

for me, selling yesterday would have been good. ha ha.
In tea leaves we trust!
  • #561,365
  • Nov 26, 2020 8:31am Nov 26, 2020 8:31am
Quoting Catempire
Today. either range bound or slow sell off which picks up pace as the day goes on (imo) bulls have had 4 days to try and crack new highs & failed & this is well due a pullback.
Stand by this... I think sell pressure will pick up into tomorrow.
Que Sera
  • #561,366
  • Nov 26, 2020 8:44am Nov 26, 2020 8:44am
Quoting Maximumheigh
{quote} Offloaded some shorts again. Another target area is 1.3300. Let see market reaction. I am still bearish. {image}
This is what they call gradual sell off. It continues to drip down gradually with 2 to 3 pips in every 10minutes. I am still bearish.
  • #561,367
  • Nov 26, 2020 8:44am Nov 26, 2020 8:44am
if I were short i'd be looking for break of yesterday's low 33033 but not more. given the volume... good luck.
In tea leaves we trust!
  • #561,368
  • Nov 26, 2020 8:48am Nov 26, 2020 8:48am
6 consec bearish bodied 15min candles closes now...right on this 4hr/dly rising wedge bottom at the current dly lo. Downside break and clear ? 66% of 30 day adr travelled ie 76pips so far today.
Trader with an Edge.
  • #561,369
  • Nov 26, 2020 8:52am Nov 26, 2020 8:52am
Quoting Wavegarrick
{quote} Hi Guys Subtle bearish hints for me. Could this rising wedge be broken to the down side? Trade safe Cheers. {image}
Hi Guys,
So far so good. It took alot of patience wth this one. My green highlighted zones with my weekly supports seem good targets for a correction to the down side.
Ultimately I would like to see a test of the bottom channel line (magenta) at 1.30 ish for a decent correction, we shall see.

All trades locked in an price must do its thing.
Trade safe
Cheers.
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Trade to trade another day
  • #561,370
  • Nov 26, 2020 8:53am Nov 26, 2020 8:53am
Got through the S1...

Although volume is low clearly a slow heavy sell off with bulls struggling to pull it back up... Should / could break the trend in the next hour... open below on the H4 in an hour would be good.
Que Sera
  • #561,371
  • Edited 9:12am Nov 26, 2020 8:58am | Edited 9:12am
Quoting Moty
ready or not, 1.33255 is coming the mini drop is coming {image} {image}
now let's drop to the last target 1.33000-1.33044
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update :
i am out !
i had 2 strategics orders waiting
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yes yes yes
  • #561,372
  • Nov 26, 2020 9:04am Nov 26, 2020 9:04am
Attached Image
Que Sera
  • #561,373
  • Nov 26, 2020 9:08am Nov 26, 2020 9:08am
Quoting Yngwie
{quote} LoL 1.3400 untouchable. Today we start all over again to the downside
Pips for all
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #561,374
  • Nov 26, 2020 9:16am Nov 26, 2020 9:16am
Quoting gatenio
{quote} fresh sw zone on h1
its on
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Le$$ I$ More
  • #561,375
  • Nov 26, 2020 9:16am Nov 26, 2020 9:16am
Quoting Catempire
{image}

... certainly has been so far today
Attached Image
Trader with an Edge.
  • #561,376
  • Nov 26, 2020 9:25am Nov 26, 2020 9:25am
...and just as bears were getting smug the asc t/line / 4hr/dly rising wedge bottom holds on 2nd test...how strong are the bears now,? Is this a bullish staging post/good place to launch another assault on the hi's ?
Attached Image
Trader with an Edge.
  • #561,377
  • Nov 26, 2020 9:30am Nov 26, 2020 9:30am
Attached Image (click to enlarge)
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yes yes yes
  • #561,378
  • Nov 26, 2020 9:33am Nov 26, 2020 9:33am
Quoting Moty
{image}
Interesting idea! I think it may go even lower.
  • #561,379
  • Nov 26, 2020 9:33am Nov 26, 2020 9:33am
Quoting Headland
...and just as bears were getting smug the asc t/line / 4hr/dly rising wedge bottom holds on 2nd test...how strong are the bears now,? Is this a bullish staging post/good place to launch another assault on the hi's ? {image}
Just a slow sell off of the £

It'll break. Not enough buy pressure or buyers to take it back to a 13 year upper trend line lol.
Que Sera
  • #561,380
  • Nov 26, 2020 9:37am Nov 26, 2020 9:37am
Quoting Headland
...and just as bears were getting smug the asc t/line / 4hr/dly rising wedge bottom holds on 2nd test...how strong are the bears now,? Is this a bullish staging post/good place to launch another assault on the hi's ? {image}
I am here for this
Where do you get these tho

Legit crack me up..
Just when bears are feeling comfy, then..... i guess the rest is yet to be known
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