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Cable Update (GBPUSD)

  • #561,901
  • Nov 29, 2020 2:43pm Nov 29, 2020 2:43pm
Quoting KiwiTrada
{quote} best scenario for me todays open cable gapping to 133 00 (will be my marker) possible pull back to 133 67 geppy gapping to 138 50 (my marker) possible pullback to 139 00 opposite scenario they keep dumping waiting waiting
It’s up 22 points on weekend trading Ig
Que Sera
  • #561,902
  • Nov 29, 2020 2:52pm Nov 29, 2020 2:52pm
You kok sokkas really need some pepp talk and let go the tech head in your mind sometimes. GL
  • #561,903
  • Nov 29, 2020 3:39pm Nov 29, 2020 3:39pm
I will not bet against GBPUSD bulls yet. Here's why, from the technical perspective of a swing trader. Although the bullish price action on the daily time frame is presently experiencing a bearish pressure as it enters the 1.33500/1.34800 horizontal resistance zone (magenta) seen on the monthly time frame, technicals still favour bulls. Last week Friday, a bearish print broke down the sideways created some days earlier at the 1.33500 boundary but failed to breach an inner rising trendline (black). A longer rising trendline (red) is still intact. Thus, I will not bet against the bulls yet. It will take a significant breakdown of the inner rising trendline (black) on a daily closing basis before I look for a feasible a sell trading opportunity.

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
  • #561,904
  • Nov 29, 2020 3:47pm Nov 29, 2020 3:47pm
Quoting KeenPips
I will not bet against GBPUSD bulls yet. Here's why, from the technical perspective of a swing trader. Although the bullish price action on the daily time frame is presently experiencing a bearish pressure as it enters the 1.33500/1.34800 horizontal resistance zone (magenta) seen on the monthly time frame, technicals still favour bulls. Last week Friday, a bearish print broke down the sideways created some days earlier at the 1.33500 boundary but failed to breach an inner rising trendline (black). A longer rising trendline (red) is still intact....
No bet against, justy buy you freak
  • #561,905
  • Nov 29, 2020 3:55pm Nov 29, 2020 3:55pm
Quoting FreakingDon
{quote} No bet against, justy buy you freak
LOL!
In tea leaves we trust!
  • #561,906
  • Nov 29, 2020 4:09pm Nov 29, 2020 4:09pm
Quoting Mcbeaners
{image} i've seen this pattern before, i calls it the "porcupine". its an exhaustion play. i'm not sure of its predicted outcome, for Monday likely a move back up to resistance 3327 ish and drop from there to 3265. from there it depends. i still believe that the bulls are in charge here, if the bears where in charge they would have let it drift north of 1.34, get the bulls offside and then drop the hammer. instead they are trying to exhaust the bulls and then take it up. all imo.
i said 3327 and it has open @ 3328 . booyaka. now will it bring it down to 3265. let's see.
In tea leaves we trust!
  • #561,907
  • Nov 29, 2020 4:26pm Nov 29, 2020 4:26pm
Quoting FreakingDon
{quote} No bet against, justy buy you freak
Calmpre TF down. Who pissed you off over the weekend ?
  • #561,908
  • Nov 29, 2020 4:52pm Nov 29, 2020 4:52pm
Quoting Mcbeaners
{quote} i said 3327 and it has open @ 3328 . booyaka. now will it bring it down to 3265. let's see.
Last day of the month on a Monday? Won’t be surprised to see bulls take charge the whole day.. I’d keep buying anything below open .. IMHO

SS
  • #561,909
  • Nov 29, 2020 4:53pm Nov 29, 2020 4:53pm
so,... gap up @ market open and price challenging that prev 4hr sw lo x 2 zone = prev supp = pot (potential) sbr (supp becomes res) to 3334 / 38.2% 3398-3285....Will be back during Ldn session. 4hr below.
Attached Image
Trader with an Edge.
  • #561,910
  • Nov 29, 2020 5:11pm Nov 29, 2020 5:11pm
Quoting FreakingDon
{quote} No bet against, justy buy you freak
I sense you are being sarcastic
Que Sera
  • #561,911
  • Nov 29, 2020 5:39pm Nov 29, 2020 5:39pm
Quoting JayBag
{quote} Last day of the month on a Monday? Won’t be surprised to see bulls take charge the whole day.. I’d keep buying anything below open .. IMHO SS
like i said i am not sure they are done with the setup i posted. but they could and so you could be right. i'm watching on the side lines for the moment.
In tea leaves we trust!
  • #561,912
  • Nov 29, 2020 5:40pm Nov 29, 2020 5:40pm
EU flying... careful my fury friends.
In tea leaves we trust!
  • #561,913
  • Nov 29, 2020 5:45pm Nov 29, 2020 5:45pm
3327 broken. and i don't see much resistance until 3351-9
In tea leaves we trust!
  • #561,914
  • Nov 29, 2020 6:01pm Nov 29, 2020 6:01pm
Quoting Mcbeaners
3327 broken. and i don't see much resistance until 3351-9
GU is making tail candle for daily Tf.
  • #561,915
  • Nov 29, 2020 7:26pm Nov 29, 2020 7:26pm
3365 to test R1, likely.

IMO
Intraday only.
  • #561,916
  • Nov 29, 2020 7:33pm Nov 29, 2020 7:33pm
i'm not seeing anything that suggests i should buy here. seems neutral. it basically hit my resistance point and stalled.
In tea leaves we trust!
  • #561,917
  • Nov 29, 2020 8:34pm Nov 29, 2020 8:34pm
Attached Image (click to enlarge)
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yes yes yes
  • #561,918
  • Nov 29, 2020 8:54pm Nov 29, 2020 8:54pm
Gold has dropped to a lower level than Friday. 1773 now
  • #561,919
  • Nov 29, 2020 8:59pm Nov 29, 2020 8:59pm
1764 now
  • #561,920
  • Nov 29, 2020 9:14pm Nov 29, 2020 9:14pm
1765 is buy level there for gold
Intraday only.
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