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Cable Update (GBPUSD)

  • #563,481
  • Dec 4, 2020 3:56am Dec 4, 2020 3:56am
you can't stop hunt me , if i don't use it
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yes yes yes
  • #563,482
  • Dec 4, 2020 4:01am Dec 4, 2020 4:01am
Quoting ChiForex
Today, support starts at around 1.3410 and follows it 1.3360s. On upside, 1.3510s seems the target with possibly 1.3580s as Max movement.
GU found support at first level 1.3410, that is the first buy for bulls and first take profit for bears.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #563,483
  • Dec 4, 2020 4:02am Dec 4, 2020 4:02am
it is bad, just in few minutes.

I had huge profit in shorts, and had 3402 TP.

It reversed and took my trailing stop.

My bad.
Intraday only.
  • #563,484
  • Dec 4, 2020 4:04am Dec 4, 2020 4:04am
... 1hr master bullish engulf close...ie engulfs 14 others before it.
Trader with an Edge.
  • #563,485
  • Dec 4, 2020 4:06am Dec 4, 2020 4:06am
Quoting nessus94
{quote} it can even go to 1,45 after the deal it would be perfect but there are 3 retraces area 1.3350 1.3185 1.2740
It did not move above 1.35 yet, and the deal is not signed yet -- and I don't expect it this week, to be honest.

I was actually expecting news / tweet of similar nature, this has been done by Reuters/Bloomberg so many times now. But somehow, after all the breakthroughs that were reported, the talks are still not concluded.
  • #563,486
  • Dec 4, 2020 4:06am Dec 4, 2020 4:06am
Quoting nessus94
{quote} it can even go to 1,45 after the deal it would be perfect but there are 3 retraces area 1.3350 1.3185 1.2740

I suppose 3700 is where the previous weekly trend broke down around may 2018 but we would need a clear break of 3514 for the current weekly uptrend to move up to 3700


May hold a position over the weekend , i think it might be worth the risk
Follow The Markets Structure - Patience and Discipline
  • #563,487
  • Dec 4, 2020 4:10am Dec 4, 2020 4:10am
Quoting ChiForex
{quote} GU found support at first level 1.3410, that is the first buy for bulls and first take profit for bears.
Cable found "support" when those who were involved into this market realized that there was no acceptation below September GB close level 34145: If you have no acceptation below the last higher accepted level of the year the next obvious move is to go to test the most recent GB close that is at 34955 made yesterday. And this is what happened in the last m30 period. And now they are searching to evaluate a possible acceptation above last 2020 GB high at 3466: if accepted 3500 RN pit current yearly high is at risk (like 2019 Sydney absolute high 35145), if not accepted back into balance waiting for new participants (preUS and Pit)
Ubi maior minor cessat
  • #563,488
  • Dec 4, 2020 4:11am Dec 4, 2020 4:11am
Yesterday:
https://www.forexfactory.com/news/10...e#post13292210
Today:
https://www.forexfactory.com/news/10...nt-expected-by
Next week:
France will veto Brexit deal

If you can get 20-30pips per trade, it's good enough these days......
Lost....
  • #563,489
  • Dec 4, 2020 4:11am Dec 4, 2020 4:11am
Quoting pipfarm
{quote} May hold a position over the weekend , i think it might be worth the risk
Don't do that, unless 300 pips down is ok for you. Talks have every chance of collapsing.
  • #563,490
  • Dec 4, 2020 4:13am Dec 4, 2020 4:13am
the 50 sma bands is supporting
but the 1.34817-1.35141 area is blocking
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come on eg
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yes yes yes
  • #563,491
  • Dec 4, 2020 4:16am Dec 4, 2020 4:16am
[quote=VM.;13296676]{quote} Don't do that, unless 300 pips down is ok for you. Talks have every chance of collapsing.[/quote


I will consider all the options before market close tonight, thanks
Follow The Markets Structure - Patience and Discipline
  • #563,492
  • Dec 4, 2020 4:24am Dec 4, 2020 4:24am
And now we are heading back to 1.34 and below. So unexpected.
  • #563,493
  • Dec 4, 2020 4:25am Dec 4, 2020 4:25am
...what goes up ! 1hr below.
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Trader with an Edge.
  • #563,494
  • Dec 4, 2020 4:25am Dec 4, 2020 4:25am
this 0.886 retracement shit is really working
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yes yes yes
  • #563,495
  • Dec 4, 2020 4:27am Dec 4, 2020 4:27am
Quoting VM.
And now we are heading back to 1.34 and below. So unexpected.
Fully expected id say just have to ride out the spikes. I think the £ is done now and should really weaken on all pairs
Keep it simple stupid
  • #563,496
  • Dec 4, 2020 4:27am Dec 4, 2020 4:27am
Quoting VM.
And now we are heading back to 1.34 and below. So unexpected.
Forreal. Unexpected and happened so fast lol.
  • #563,497
  • Dec 4, 2020 4:29am Dec 4, 2020 4:29am
gold can't break, what don't go up , will drop down
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yes yes yes
  • #563,498
  • Dec 4, 2020 4:30am Dec 4, 2020 4:30am
Quoting Craven64
{quote} Fully expected id say just have to ride out the spikes. I think the £ is done now and should really weaken on all pairs
This was sarcasm of course.
Retest of 1.35 was fully expected, and the nature of it is absolutely standard for GU.
  • #563,499
  • Dec 4, 2020 4:33am Dec 4, 2020 4:33am
Quoting Lock
{quote}...And now they are searching to evaluate a possible acceptation above last 2020 GB high at 3466: if accepted 3500 RN pit current yearly high is at risk (like 2019 Sydney absolute high 35145), if not accepted back into balance waiting for new participants (preUS and Pit)
no acceptance above 3466 and back to balance..... SO unexpected only for those who have no idea whatsoever of market generated information...
Ubi maior minor cessat
  • #563,500
  • Dec 4, 2020 4:35am Dec 4, 2020 4:35am
Quoting Lock
{quote} no acceptance above 3466 and back to balance..... SO unexpected only for those who have no idea whatsoever of market generated information...

And by the way price is actually up and down today Point of control, meaning the absolute center of today balance: 3451
Ubi maior minor cessat
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