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Cable Update (GBPUSD)

  • #564,801
  • Dec 10, 2020 4:40am Dec 10, 2020 4:40am
Quoting Wilczur
Iam commenting to share my point of view. If you disagree ofcourse you can do it. You dont care about longer time, ok. In shorter time (today) we will reach 1.33400 - 1.33500 meybe 1.34 (hard to reach today), price direction is down obviously. I only trade in price action nothing more. Trust me that longer term price action is very predictable and due to this we can predict shorter time price but this is harder.
Based on the fundamentals I wholly agree with you, when you know you know... timing entry is somewhat more tricky.
Que Sera
  • #564,802
  • Dec 10, 2020 4:45am Dec 10, 2020 4:45am
Maybe in the short term, you win some. But overall, professional traders don't predict the market. They develop market scenarios and adopt strategies to deal with emerging market outcomes. In the long run, longer term?, not predicting the market pays. We deal in probabilities.

Stay safe, trade safe and prosper.

KP

Quoting Wilczur
{quote} It is my strategy mate, and if i can help i would share my vision.
Do your homework, follow the footprints of smart money
  • #564,803
  • Dec 10, 2020 4:47am Dec 10, 2020 4:47am
Quoting Steamroller
Hitting some reasonable resistance on the FTSE which may slow GBP descent.
Don’t correlate in that way. The pound won’t suddenly stop dropping because the ftse hits support if the fundamentals support it going lower.

if the £ drops then the ftse rises based on export & oil trading in dollars (ftse is heavily oil weighted) provided the fundamentals support it, but they can equally both drop together.

if companies like RR stop production because they can’t get parts in an already struggling economy then the ftse will drop as will the pound.

there are some really really good priced put options expiring in March and feb for the ftse & with the likelihood of the market dropping back because of biden, brexit & the rona they have a really high success rate.

Technicals have to be supported by the fundamentals otherwise they are showing false info.

ftse into the 4’s and pound into the 1.1x’s
Que Sera
  • #564,804
  • Dec 10, 2020 4:51am Dec 10, 2020 4:51am
If you don't believe me stick an MA(20) on 5 minute period.
  • #564,805
  • Dec 10, 2020 4:54am Dec 10, 2020 4:54am
Quoting Arief-
the bearish gartley reaction

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 44 KB
  • #564,806
  • Dec 10, 2020 4:57am Dec 10, 2020 4:57am
Quoting Steamroller
If you don't believe me stick an MA(20) on 5 minute period.
What do you mean?

im just saying if the fundamentals of the U.K. economy are fooked and the fundamentals of the pound are fooked they will both drop.

have a read up of the effects of a no deal brexit on the U.K. oil market (among about a thousand others)

the ftse will be hit hard.
Que Sera
  • #564,807
  • Dec 10, 2020 5:10am Dec 10, 2020 5:10am
Everybody is the good time to sell now! Target: 1.32
Damage
  • #564,808
  • Dec 10, 2020 5:11am Dec 10, 2020 5:11am
I expect the pound to start dropping first (as it is) which will push the ftse higher until reality sets in.

coincided with a Biden corporate tax rate hike all markets will sell off, add in businesses in U.K. struggling and lack of demand for goods.

Earnings season in February so put options in March won’t go far wrong imo. There will be some dire forward looking statements in the results.
Que Sera
  • #564,809
  • Dec 10, 2020 5:14am Dec 10, 2020 5:14am
I know there may be food shortages, and unemployment will climb and businesses will go bankrupt - but at least we will have our fishing industry
I will remember that when I am queining at the fish counter at Tesco.....what a total waste
Boris screwed up the pandemic- we have the highest number of deaths, is it any surprise he would screw this up as well
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #564,810
  • Dec 10, 2020 5:14am Dec 10, 2020 5:14am
3310 broke and tested
m5 chart
short for 38 pips
Attached Image (click to enlarge)
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in wondering about yourself, you forgot what you came here to be part of
  • #564,811
  • Dec 10, 2020 5:15am Dec 10, 2020 5:15am
Quoting Moty
{quote} this is 0.01 lot survivur from another wiped acoount . i deposite again , and planing to sell today . this is my new strategy yesterday {image} today {image}

hay moty sir namskar ji

i am also face same problem but this time i am study to paradox system which is given by dove alliance he is master of trading also paradox system very faith full for trading if you want to study there might be very good trader if i heart you then forgive me my language not english

GOD bless you
  • #564,812
  • Dec 10, 2020 5:28am Dec 10, 2020 5:28am
If you are considering intra-day technical reaction areas have a look at the attached H4 chart. Price action is operating in a rising channel (blue) in the context of a long-term rising trendline (red). Prevailing horizontal resistance zone: 1.34500/1.35000(magenta), prevailing horizontal support zone: 1.33100/1.32600 (green), next potential technical support is at 1.30600 (purple). Note that presently price action is at channel support trendline as well at the 1.33100/1.32600 horizontal support area. It is not advisable to short at this level unless a significant breakdown of the zone/channel support trendline plus a retest for a role flip of the zone. Of course, neither is it advisable to buy; just wait for H4 pa to play out at the zone first.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4_December 10, 2020.png Size: 45 KB
Do your homework, follow the footprints of smart money
  • #564,813
  • Dec 10, 2020 5:28am Dec 10, 2020 5:28am
Quoting SFundamental
I know there may be food shortages, and unemployment will climb and businesses will go bankrupt - but at least we will have our fishing industry I will remember that when I am queining at the fish counter at Tesco.....what a total waste Boris screwed up the pandemic- we have the highest number of deaths, is it any surprise he would screw this up as well
They will blame anyone but themselves. The question / referendum should never have been asked / happened.

no deal is best option now tho.
Que Sera
  • #564,814
  • Dec 10, 2020 5:54am Dec 10, 2020 5:54am
some people really think you couldn't ask the question
how would they deal with Farage I wonder ,stay in the EU while the biggest party there is the UK Brexit party.
Attached Image
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #564,815
  • Dec 10, 2020 5:55am Dec 10, 2020 5:55am
you can't fight faith
this sucker need to drop hard
cough him in the end
tp 1.32200
Attached Image(s) (click to enlarge)
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yes yes yes
  • #564,816
  • Dec 10, 2020 5:56am Dec 10, 2020 5:56am
Quoting Georginson
SELL OPENED AT 1.3416... my target is 1.3296.
Target attained
Data + Stat + Risk/Emotions Management
  • #564,817
  • Dec 10, 2020 5:58am Dec 10, 2020 5:58am
Quoting helioss
Here we are....3270is next strong supply {image}
.3270 done
  • #564,818
  • Dec 10, 2020 5:59am Dec 10, 2020 5:59am
Broken the range to the downside. A continuation could go some way to 1.316 "bad news".
  • #564,819
  • Dec 10, 2020 5:59am Dec 10, 2020 5:59am
Quoting Bones
some people really think you couldn't ask the question how would they deal with Farage I wonder ,stay in the EU while the biggest party there is the UK Brexit party. {image}
Only after all the lies he told. He even said the MEP’s weren’t elected & yet manage to persuade loads of football supporters to elect him.

”Brexit means brexit”

slogans for the stupid.
Que Sera
  • #564,820
  • Dec 10, 2020 6:00am Dec 10, 2020 6:00am
Long opened @ 1.3260, target 1.3400.
Data + Stat + Risk/Emotions Management
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