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Cable Update (GBPUSD)

  • #563,021
  • Dec 2, 2020 8:55am Dec 2, 2020 8:55am
Quoting Yngwie
Hope 1.3280 strong. buying mode
already 60+ pips wohoo
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #563,022
  • Dec 2, 2020 8:58am Dec 2, 2020 8:58am
copper is again about to break to new highs. easy money folks.

gold n silver also goodn's.
In tea leaves we trust!
  • #563,023
  • Dec 2, 2020 8:58am Dec 2, 2020 8:58am
Market sells GBP on Brexit and USD on stimulus.
I guess buying EG and EU/AU may be wiser than trading GU, but every time I look at them I think "they are too high already".
The good thing though, when dollar starts to show strength (it should happen one day, right?), GU bears will be paid handsomely.
  • #563,024
  • Dec 2, 2020 9:10am Dec 2, 2020 9:10am
Quoting Mcbeaners
anyone correlate ftse with cable? i dont but ftse is motoring and its not stopping soon me thinks.
Correlation is tricky in this case, depends on the reason for the movement. Pound weakness usually helps FTSE100 companies many of which are global. At the same time, risk on will usually help both FTSE and pound (conversely with risk off). Today we have both pound weakness and risk on, so double good for FTSE.
  • #563,025
  • Dec 2, 2020 9:24am Dec 2, 2020 9:24am
Quoting VM.
{quote} Correlation is tricky in this case, depends on the reason for the movement. Pound weakness usually helps FTSE100 companies many of which are global. At the same time, risk on will usually help both FTSE and pound (conversely with risk off). Today we have both pound weakness and risk on, so double good for FTSE.
thanks - that was close to my understanding. ftse was bought on friday btw (according my tape). similar setup to 29 oct where it was bought, it dipped and did a massive rally. probably vac related.
In tea leaves we trust!
  • #563,026
  • Dec 2, 2020 9:36am Dec 2, 2020 9:36am
It is going again above 1,3420

see you above
Make money by doing the opposite of Giveachance aka loser
  • #563,027
  • Dec 2, 2020 9:39am Dec 2, 2020 9:39am
Quoting helioss
15min: bear pressure is decreasing.....1.3340 key level. Bulls are going stronger {image}
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  • #563,028
  • Dec 2, 2020 9:48am Dec 2, 2020 9:48am
Please give good idea about cable
  • #563,029
  • Dec 2, 2020 9:52am Dec 2, 2020 9:52am
Quoting shahab8b
I understand why some say GU has reversed. But for me the key level is 1.33. As long as 1.33 holds buying the dips might work. The setup was posted here https://www.forexfactory.com/thread/...ideas?page=483 {image}
This range (1.33 to 1.34) provided some good trading opportunities. Yesterday, I thought we finally broke above it. But we are back inside the range again. I will sell 1.34 and buy 1.33 again as long as this remains the case.
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  • #563,030
  • Dec 2, 2020 10:07am Dec 2, 2020 10:07am
Attached Image (click to enlarge)
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yes yes yes
  • #563,031
  • Dec 2, 2020 10:29am Dec 2, 2020 10:29am
Quoting shahab8b
{quote} This range (1.33 to 1.34) provided some good trading opportunities. Yesterday, I thought we finally broke above it. But we are back inside the range again. I will sell 1.34 and buy 1.33 again as long as this remains the case. {image}
You are right of course, R/R was great. But we are in the world of finite entities, nothing lasts forever. Maybe the new high and retest of last week's low in the same day indicate that we are about to break free. It's not that we lack strong drivers to do that, they just balanced each other out so far. But something gotta give.
  • #563,032
  • Dec 2, 2020 10:32am Dec 2, 2020 10:32am
gu dec and mar contracts completely out of sync now. dec full of impulse and mar with none. not good for bulls imo. is anyone calling for 1.28?
In tea leaves we trust!
  • #563,033
  • Dec 2, 2020 10:34am Dec 2, 2020 10:34am
Quoting Mcbeaners
gu dec and mar contracts completely out of sync now. dec full of impulse and mar with none. not good for bulls imo. is anyone calling for 1.28?
Could you please explain, how do you determine this? Thanks!
  • #563,034
  • Dec 2, 2020 10:38am Dec 2, 2020 10:38am
Quoting VM.
{quote} Could you please explain, how do you determine this? Thanks!
dec contract is running to a close and would expect some longs to be entering the new contract if it was bullish. they don't appear to be. so they (as it appears to me) think its going down and will roll over after it drops. we'll see.
In tea leaves we trust!
  • #563,035
  • Dec 2, 2020 10:57am Dec 2, 2020 10:57am
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yes yes yes
  • #563,036
  • Dec 2, 2020 10:57am Dec 2, 2020 10:57am
The market is repeating itself week by week.
Le$$ I$ More
  • #563,037
  • Dec 2, 2020 11:02am Dec 2, 2020 11:02am
Quoting VM.
{quote} You are right of course, R/R was great. But we are in the world of finite entities, nothing lasts forever. Maybe the new high and retest of last week's low in the same day indicate that we are about to break free. It's not that we lack strong drivers to do that, they just balanced each other out so far. But something gotta give.
Yea, of course it will break out of the range at some point. I have been trading 1.33 and 1.34 levels with 15-20 pips SL and each time I collected 50-100 pips. Would you consider that a bad strategy? Forecasting what the price does next is one thing and having a good trading strategy is another thing. I consider trading more like a probability game. Also, as a discretionary trader, I switch between range trading methods and trend following methods depending on the market conditions. So I will change my trading strategy whenever GU breaks out of this range. And I really don't care whether it's up or down.
  • #563,038
  • Dec 2, 2020 11:03am Dec 2, 2020 11:03am
people like lines on a chart, here is some lines on a chart. my guess the run up to 3398 will be swift and the drop just as fast. happy hunting.
Attached Image (click to enlarge)
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In tea leaves we trust!
  • #563,039
  • Dec 2, 2020 11:12am Dec 2, 2020 11:12am
Quoting Mcbeaners
people like lines on a chart, here is some lines on a chart. my guess the run up to 3398 will be swift and the drop just as fast. happy hunting. {image}
or feck it, it could just drop from here. both are good to me.
In tea leaves we trust!
  • #563,040
  • Dec 2, 2020 11:13am Dec 2, 2020 11:13am
Quoting Mcbeaners
people like lines on a chart, here is some lines on a chart. my guess the run up to 3398 will be swift and the drop just as fast. happy hunting. {image}
My 1h view is similar (even if first reversal level .3363 was touched)
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