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Cable Update (GBPUSD)

  • #564,981
  • Dec 11, 2020 3:31am Dec 11, 2020 3:31am
Quoting Moty
the profit is here , all out !!! {image} {image} {image}
Well done and congrats, Moty.
  • #564,982
  • Dec 11, 2020 3:38am Dec 11, 2020 3:38am
Understand Dollar strength
But off Bailey's comments - not short gold for me
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #564,983
  • Dec 11, 2020 3:40am Dec 11, 2020 3:40am
classic retrace to 50 % of last massive candle and daily s1
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 33 KB
yes yes yes
  • #564,984
  • Dec 11, 2020 3:41am Dec 11, 2020 3:41am
Quoting fxmasterdxb
{quote} As much as i would love to see gold dropping hard, i cant see signs of the same, i would say gold is more bullish than bearish
its FRYday anything possible.... if you check monthly on gold....i feel it can be a same candle as last month.... i.e inverted hammer...
Extreme gut feeling trader
  • #564,985
  • Dec 11, 2020 3:42am Dec 11, 2020 3:42am
Quoting pipfarm
{quote} Spot on so far 100 pips Before {image} After {image}

Great result as analysis, profit taken 190 pips, exact same trade on gy

Before
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 44 KB


After

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1-after.png Size: 35 KB
Follow The Markets Structure - Patience and Discipline
  • #564,986
  • Dec 11, 2020 3:43am Dec 11, 2020 3:43am
Good Morning,

Good Pips Moty,
I happen to be long ATM from the bottom "Area".
LooKing for maybe a Retrace up into the 50's, 60's area. -We'll see.
I'm noT holding my hat on this one. She even looks done at the moment,
and had a hard time bumping out of the Cloud & was only "Forced-Out".

Again,
Great Run & Calculation on things Moty,
My Best, & Happy Pipping "All"...
P.S. She LooK's like she did a 50% then another 61.8% or so on Pull-Backs,
on this Little Retrace Run...
Attached Image (click to enlarge)
Click to Enlarge Name: 12_11_2020 GBP_USD Long After 100 Pip Drop.png Size: 49 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 12_11_2020 GBP_USD Out of the Cloud_But Doesnt LooK Strong.png Size: 49 KB
I will work to Objectively Identify my Edges
  • #564,987
  • Dec 11, 2020 3:44am Dec 11, 2020 3:44am
Quoting montygoldy
{quote} its FRYday anything possible.... if you check monthly on gold....i feel it can be a same candle as last month.... i.e inverted hammer...
Agree with you, im actually expecting gold to be dumped before month-end, but probably some sideways for the time being, push a bit higher and then get dumped
  • #564,988
  • Dec 11, 2020 3:46am Dec 11, 2020 3:46am
Quoting TerpFan2
Good Morning, Good Pips Monty, I happen to be long ATM from the bottom "Area". LooKing for maybe a Retrace up into the 50's, 60's area. -We'll see. I'm noT holding my hat on this one. She even looks done at the moment, and had a hard time bumping out of the Cloud & was only "Forced-Out". Again, Great Run & Calculation on things Monty, My Best, & Happy Pipping "All"... P.S. She LooK's like she did a 50% then another 61.8% or so on Pull-Backs, on this Little Retrace Run... {image}{image}
Very valid targets, in fact i have my sell limits at those levels waiting to be triggered
  • #564,989
  • Dec 11, 2020 3:53am Dec 11, 2020 3:53am
Quoting kk300
i think no more up. until we reach the level. {image}
Posted chart on wednesday. Its almost achieved.
  • #564,990
  • Dec 11, 2020 4:08am Dec 11, 2020 4:08am
Quoting fxmasterdxb
{quote} Very valid targets, in fact i have my sell limits at those levels waiting to be triggered
Thx FX, I'm out of that Mess... (re-editing here & there).
She did an A-B-C on the 5 min & if you look at the 1m, it extrapolated down to a Five-Wave Run.
I'm actually "SHORT" now. She did NOT Go for that area, and did what a Wave-3 Retracement
Normally does, w/a 38.2 (Usual Maximum Retracement).

My bad MOTY, -i added an "N" Groggy from 3am Wake-Up over here.
My best Gang,

Jeff ! P.S. I thought they were good Calls FX- Should of been Shorting w/Moty again,
With his "Hammer" earlier ! 'Gonna See what this Wave-Set does South.
I will work to Objectively Identify my Edges
  • #564,991
  • Dec 11, 2020 4:16am Dec 11, 2020 4:16am
Quoting HandsFx
should break below 1.3220 for the next 1-2 days
Probably 3150-3170 in next 2 hours..
  • #564,992
  • Dec 11, 2020 4:18am Dec 11, 2020 4:18am
Well that just shook me out...
Sheesh! Nice little wave there. Dang
I will work to Objectively Identify my Edges
  • #564,993
  • Dec 11, 2020 4:20am Dec 11, 2020 4:20am
Quoting HandsFx
{quote} Probably 3150-3170 in next 2 hours..
Attached Image (click to enlarge)
Click to Enlarge Name: EA7B5F31-6D0A-4507-91BE-5A650EA22309.png Size: 358 KB
  • #564,994
  • Dec 11, 2020 4:35am Dec 11, 2020 4:35am
Next slide to 1.31750 after clearing pattern number 2.
WT
  • #564,995
  • Dec 11, 2020 4:57am Dec 11, 2020 4:57am
I don't plan to close my short soon.

From fundamental perspective, things are as bad as they can be for UK. Market may not realise it now, but we will start a descent into chaos unless a path to a deal can be found. I don't think many here in the UK lived through an economic collapse; I have, and trust me, it will be much worse than people imagine now as a "worst case scenario".

From the technical perspective, I think upward targets were reached at 1.35+, and we saw reversal of the trend. Pound weakness is evident. I am not yet satisfied that dollar selling has finished, but even there we have some signs of at least a correction.

Also, the market was very bullish on GU, and I am sure a lot of orders were open from 1.27 to 1.34. Now when political risks are clear, would bulls want to hold on to their longs? I would not if I were them. Add to that that any firms/wealthy individuals with exposure to GBP, will probably want to lock the current high price. So we can have a triple downward pressure: 1) speculators opening short positions; 2) closing of long positions; 3) hedging of long exposure.
  • #564,996
  • Dec 11, 2020 4:58am Dec 11, 2020 4:58am
Quoting VM.
I don't plan to close my short soon. From fundamental perspective, things are as bad as they can be for UK. Market may not realise it now, but we will start a descent into chaos unless a path to a deal can be found. I don't think many here in the UK lived through an economic collapse; I have, and trust me, it will be much worse than people imagine now as a "worst case scenario". From the technical perspective, I think upward targets were reached at 1.35+, and we saw reversal of the trend. Pound weakness is evident. I am not yet satisfied that dollar...
In other words pound is going to zero lol
Make money by doing the opposite of Giveachance aka loser
  • #564,997
  • Dec 11, 2020 5:04am Dec 11, 2020 5:04am
My previous post told already. First target is 1.32. Reached. 200pip pocketed. Next is 1.28. You still have the time to sell. You will regret when it went to 1.28
Damage
  • #564,998
  • Dec 11, 2020 5:05am Dec 11, 2020 5:05am
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 31 KB
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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yes yes yes
  • #564,999
  • Dec 11, 2020 5:10am Dec 11, 2020 5:10am
Quoting abconqq7
Everybody is the good time to sell now! Target: 1.32
what i told already. GBP will be drop more
Damage
  • #565,000
  • Dec 11, 2020 5:12am Dec 11, 2020 5:12am
Quoting Kaysole
Bought @1.3227 [email protected] [email protected] I don't think the pound will go down that easy.
SL Hit
I'm gonna give it another shot.
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