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Cable Update (GBPUSD)

  • #566,141
  • Dec 16, 2020 10:27pm Dec 16, 2020 10:27pm
[email protected]
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[email protected]
  • #566,142
  • Dec 16, 2020 10:32pm Dec 16, 2020 10:32pm
Quoting Sang.Real
GU Newbie thinking on today set up Any comments and view are welcome to improve knowledge. Thank you in advance. May god bless all of you today with many green pips {image}
Well I would love to see 1.3660 today, cable has the fuel to push another 100 pips today and i think it’ll do it
  • #566,143
  • Dec 16, 2020 10:32pm Dec 16, 2020 10:32pm
Quoting trumps
There are far too many traders and lots short GBPUSD https://www.forexfactory.com/trades
Still too many GBPUSD shorts
Compulsions can be hard to resist
  • #566,144
  • Dec 16, 2020 10:41pm Dec 16, 2020 10:41pm
Quoting fxmasterdxb
{quote} Well I would love to see 1.3660 today, cable has the fuel to push another 100 pips today and i think it’ll do it
dollar index broke 90 and cable did not take much advantage of this sell off. lets see if dollar index falls to 89/88 or forms a bottom.
  • #566,145
  • Edited 11:00pm Dec 16, 2020 10:44pm | Edited 11:00pm
daily ranging mode db/sar both at top with red fibo
4 hr db/sar at top with red fibo
2hr db top with both divergence with red fibo last sar at bottam sar with psar at this time sar at top according to rule if sar here stand than i will go sell after2 hr candle close

also readjustment if dove sir watching then he say me full because i breaking rule only 1 trad a day loss or profit
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  • #566,146
  • Dec 16, 2020 10:44pm Dec 16, 2020 10:44pm
Quoting trumps
{quote} Still too many GBPUSD shorts
I have said this before forexfactory traders are just droplet of the huge trader fraternity and their tiny orders dont matter much. CFTC data for 15th I don't have but as of Dec 8th they are net long. looking at the rally this week more shorts would have been trimmed. so as of dec 15th they are long again
  • #566,147
  • Dec 16, 2020 11:44pm Dec 16, 2020 11:44pm
Quoting giveachance
{quote} I have said this before forexfactory traders are just droplet of the huge trader fraternity and their tiny orders dont matter much. CFTC data for 15th I don't have but as of Dec 8th they are net long. looking at the rally this week more shorts would have been trimmed. so as of dec 15th they are long again
I realise FF traders mean nothing in terms of volume.
That's not the point.

My point is, the data relating to net positions for GBPUSD as published on this website, is among the best contraindicators I have seen anywhere.
Very reliable.

Myfxbook, another good contraindicator, is even more heavily short.
Compulsions can be hard to resist
  • #566,148
  • Dec 16, 2020 11:57pm Dec 16, 2020 11:57pm
Quoting Bsverma
buy for 40/40 according to paradox syste rule entry should be sar with psar but that time i was sleep so daily complee uptrend 2hr sar with psar so next conection of sar should be top so will go here buy whenever 1hr psar fleep for support{image}
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my target 40/40 rule paradox always right but may be i am wrong
  • #566,149
  • Dec 16, 2020 11:58pm Dec 16, 2020 11:58pm
Quoting navk
will be looking to sell GU below 3550 today.
selling proposal cancelled as of now
Intraday only.
  • #566,150
  • Dec 17, 2020 12:06am Dec 17, 2020 12:06am
Quoting trumps
{quote} I realise FF traders mean nothing in terms of volume. That's not the point. My point is, the data relating to net positions for GBPUSD as published on this website, is among the best contraindicators I have seen anywhere. Very reliable. Myfxbook, another good contraindicator, is even more heavily short.
everyone is heavily short. does it mean we will go to 1.50. it is not about the published positions that matter. investment banks never publish their trades nor do big traders. they dont participate in forums either. you probably need to read what I wrote. CFTC positioning is already long and they have added more longs. you should only see CFTC data because that is what matters but by the time you receive it it is already late
  • #566,151
  • Dec 17, 2020 12:06am Dec 17, 2020 12:06am
again short 1.3560 potential hard sell zona 1.3575
  • #566,152
  • Dec 17, 2020 12:10am Dec 17, 2020 12:10am
Quoting Lastaccount
again short 1.3560 potential hard sell zona 1.3575
Hi,

Id like to think it’s a potential LONG idea after the break of 1.3547 ..

Please apply caution
SS
  • #566,153
  • Dec 17, 2020 12:16am Dec 17, 2020 12:16am
Quoting giveachance
{quote} everyone is heavily short. does it mean we will go to 1.50. it is not about the published positions that matter. investment banks never publish their trades nor do big traders. they dont participate in forums either. you probably need to read what I wrote. CFTC positioning is already long and they have added more longs. you should only see CFTC data because that is what matters but by the time you receive it it is already late
Hi giveachance, I read what you wrote, thats why I responded.
I know about CFTC data, it pertains to more volume than FF positioning and it is a lagging indicator.

With regards to "what matters", my logic is simple, and perhaps you need to read what I wrote.

If an indicator, or in this case a contraindicator, proves to be reliable, then to me, that is what matters. And it isn't lagging by 3-4 days or so.

The rest is no real concern to me.

Having said all this, I do my own analysis, but it's more interesting to note how often the daily net positions on this website are opposite to what transpires.
Not 100%, but even on it's own, has shown to be reliable and would be profitable.
Compulsions can be hard to resist
  • #566,154
  • Dec 17, 2020 12:18am Dec 17, 2020 12:18am
GU looking to attack 1.36 and touch just around 1.3620.
A base above this price and we are going way higher on strong bullish trend to 1.3680s later..

A move toward 1.3600-20 and bounce before BOE would be a good setup for bears. Other than that may go higher..
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #566,155
  • Dec 17, 2020 12:19am Dec 17, 2020 12:19am
Important update for bears...

Price currently at 1.3560 new 2020 high...

Whichever high it records which is expected to terminate anywhere between 1.3560/1.3620 area will be met with Aggressive sell to 1.3000 area within 13 trade days after making this high.

When the bears hit town finally, avoid scalping buy so as not to get hurt by a dropping knife.

As usual, money management is king.
Data + Stat + Risk/Emotions Management
  • #566,156
  • Dec 17, 2020 12:30am Dec 17, 2020 12:30am
Quoting Georginson
Important update for bears... Price currently at 1.3560 new 2020 high... Whichever high it records which is expected to terminate anywhere between 1.3560/1.3620 area will be met with Aggressive sell to 1.3000 area within 13 trade days after making this high. When the bears hit town finally, avoid scalping buy so as not to get hurt by a dropping knife. As usual, money management is king.
Keep shorting the fall of the dollar
Make money by doing the opposite of Giveachance aka loser
  • #566,157
  • Dec 17, 2020 12:30am Dec 17, 2020 12:30am
Quoting Georginson
Important update for bears... Price currently at 1.3560 new 2020 high... Whichever high it records which is expected to terminate anywhere between 1.3560/1.3620 area will be met with Aggressive sell to 1.3000 area within 13 trade days after making this high. When the bears hit town finally, avoid scalping buy so as not to get hurt by a dropping knife. As usual, money management is king.
Hi George,

I think we can both agree that December is just like Friday? If that’s agreed, then I think 1.38 could be where this thing may attract a bit of bear?

The levels you mentioned could provide a bit of retrace here and there but I doubt any of it will drop it like it’s hot. (Excuse the pun)

Just like Friday, moves suppressed during the week usually blow off on the last day

just my thought and not necessarily because I am long..

I have 1.37146 to exit my sky scraper of longs but I won’t attempt to short it yet

SS
  • #566,158
  • Dec 17, 2020 12:32am Dec 17, 2020 12:32am
Quoting giveachance
{quote} dollar index broke 90 and cable did not take much advantage of this sell off. lets see if dollar index falls to 89/88 or forms a bottom.
Exactly what im looking at! I think it will bottom around 88.90
  • #566,159
  • Dec 17, 2020 12:36am Dec 17, 2020 12:36am
Tricky day today. To trade or not to trade is the question
  • #566,160
  • Dec 17, 2020 12:39am Dec 17, 2020 12:39am
Quoting goldfish3
Tricky day today. To trade or not to trade is the question
Have a glass of whatever makes you happy and you may get your answer Gold
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