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Cable Update (GBPUSD)

  • #562,321
  • Dec 1, 2020 2:44am Dec 1, 2020 2:44am
Quoting Catempire
Nice double top to start the month of December off with... Ho Ho Ho
Go brexit

i am buying more
Make money by doing the opposite of Giveachance aka loser
  • #562,322
  • Dec 1, 2020 2:45am Dec 1, 2020 2:45am
the m30 SW zones were a nice pick to go bullish..
SW for life.
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Le$$ I$ More
  • #562,323
  • Dec 1, 2020 2:46am Dec 1, 2020 2:46am
With cable anything is possible, even 1.3490 before NY open
  • #562,324
  • Dec 1, 2020 2:47am Dec 1, 2020 2:47am
Quoting nessus94
{quote} Go brexit i am buying more
give us the levels that you buy.. I want it on my note.
  • #562,325
  • Dec 1, 2020 2:49am Dec 1, 2020 2:49am
Quoting OnlineAddict
{quote} The fact that people living in London are trading now, doesn't mean its "London open" already.
...well, in an interbank (non exchange 24hr) market like forex there is no 'official' open but it is recognised in the city (the centre of world forex trading where most volumes are transacted) that 0630am/0700am London time IS known as the London Forex Open. I spent 17 years trading forex in the city (and other asset classes when I moved to a hedge fund from a bank,) so I think I might know this . And yes, the traders at city desks tend to live in London, or easy commute to it for the early start.
Trader with an Edge.
  • #562,326
  • Dec 1, 2020 2:49am Dec 1, 2020 2:49am
Quoting nessus94
{quote} U were looking at 1,29 then 1,30 now 1,3180 ? if we go to 1,37 you short for 1,35 ?
1.3180 is my first target... 1.3050 is the possible bearish destination by mid December.

I am selling here at 1.3403/1.3376 to target 1.3180

Then I will buy 1.3050/1.3100 area by mid December.

1.29 has a 50/50 chance at the moment and I'm not willing to make unrealistic expectations.
Data + Stat + Risk/Emotions Management
  • #562,327
  • Dec 1, 2020 2:50am Dec 1, 2020 2:50am
looks like my SL will get hit soon.

1.3415
  • #562,328
  • Dec 1, 2020 2:52am Dec 1, 2020 2:52am
Don't know if it will break now, but downside it's limited to 1,3177 for the moment imo.
Confident in the deal, 1,37 remain my first target

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  • #562,329
  • Dec 1, 2020 2:52am Dec 1, 2020 2:52am
Quoting gatenio
{quote} give us the levels that you buy.. I want it on my note.
Every move below 1,3320

but now we could be in a big breakup
Make money by doing the opposite of Giveachance aka loser
  • #562,330
  • Dec 1, 2020 2:53am Dec 1, 2020 2:53am
As far as i am concerned this is a win for the bulls, once a new high is made the analysis can be classed as correct, where it goes from 3400 that is another matter.

Just shows fundamentals in forex are not tradable as forex is an unregulated market unlike stocks.

Unlucky bears or should i say bad analysis.

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Follow The Markets Structure - Patience and Discipline
  • #562,331
  • Dec 1, 2020 2:54am Dec 1, 2020 2:54am
there is a lot of selling pressure above 3460
99.9% persistence
  • #562,332
  • Dec 1, 2020 2:55am Dec 1, 2020 2:55am
I mean 34060
99.9% persistence
  • #562,333
  • Dec 1, 2020 2:56am Dec 1, 2020 2:56am
Pipfarm that's hilarious.

"As far as i am concerned this is a win for the bulls, once a new high is made the analysis can be classed as correct"

Some people really hate to be wrong eh... lol
Que Sera
  • #562,334
  • Dec 1, 2020 2:57am Dec 1, 2020 2:57am
Quoting pipfarm
As far as i am concerned this is a win for the bulls, once a new high is made the analysis can be classed as correct, where it goes from 3400 that is another matter. Just shows fundamentals in forex are not tradable as forex is an unregulated market unlike stocks. Unlucky bears or should i say bad analysis. {image}

...certainly it was bad analysis if it was being read technically, even in last week's choppy range it favoured a break of 3398, but the fundie bears could well be right yet, time will tell. This zone to 3482/3514 could be a big supply zone if price enters deeper into it. We have encountered supply already at it's base.
Trader with an Edge.
  • #562,335
  • Dec 1, 2020 2:57am Dec 1, 2020 2:57am
shorting automatically without waiting for trend change is a recipe for disaster
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yes yes yes
  • #562,336
  • Dec 1, 2020 3:00am Dec 1, 2020 3:00am
Quoting Moty
shorting automatically without waiting for trend change is a recipe for disaster {image}
what? who are you?

A demon took over Moty
  • #562,337
  • Dec 1, 2020 3:00am Dec 1, 2020 3:00am
Quoting Headland
{quote} ...well, in an interbank (non exchange 24hr) market like forex there is no 'official' open but it is recognised in the city (the centre of world forex trading where most volumes are transacted) that 0630am/0700am London time IS known as the London Forex Open. I spent 17 years trading forex in the city (and other asset classes when I moved to a hedge fund from a bank,) so I think I might know this . And yes, the traders at city desks tend to live in London, or easy commute to it for the early start.
what was the average position size you were trading? (asking for a friend)
  • #562,338
  • Dec 1, 2020 3:01am Dec 1, 2020 3:01am
Quoting Moty
shorting automatically without waiting for trend change is a recipe for disaster {image}
did you enter any trade? I dont see it
  • #562,339
  • Dec 1, 2020 3:03am Dec 1, 2020 3:03am
Quoting Headland
{quote} ...certainly it was bad analysis if it was being read technically, even in last week's choppy range it favoured a break of 3398, but the fundie bears could well be right yet, time will tell. This zone to 3482/3514 could be a big supply zone if price enters deeper into it. We have encountered supply already at it's base.
Well I think an upper wick on a new month, even when the month does turns out to be Bearish, is highly likely.

EU puts contingency plans in place tomorrow or Thursday... anyone think the details there in will scare the market somewhat ?

DXY currently re testing its lows from yesterday & holding so far...
Que Sera
  • #562,340
  • Dec 1, 2020 3:05am Dec 1, 2020 3:05am
Quoting asset21
{quote} what was the average position size you were trading? (asking for a friend)

Well, at the bank then it was like the wild west compared to now, mostly done on phone with counterparties, often 'a yard' or more (£1billion,) less at hedge fund, The fund was what was known then as a 'boutique' fund so it was smaller sizes but more trades, holding for less time, still in the high 10's of millions to sometimes 00's of millions.
Trader with an Edge.
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