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Cable Update (GBPUSD)

  • #566,841
  • Dec 18, 2020 10:28am Dec 18, 2020 10:28am
Quoting Wavegarrick
{quote} Hi Guys, I am in with a buy trade. We are getting to a point where things are becoming Iffy to me. I need a 4hr candle close back above my mid round number at 1.35500 and more importantly a push above my daily pivot at 1.35625. An M formation and a break below my ascending trend line could spell the beginning of a short cycle for me, Trade safe. Cheers {image}
Well my Iffy hunch could just spell a cyclic correction. My buy trade from the day before and today were all taken out with small profits. My mid round number at 1.35500 served as a perfect rejection point to the downside. I have had a 4 hr close below 1.3500, A daily close below 1.3500 could be worth monitoring, but more important is that we have a new daily lower low. If all falls in place for a cyclic correction we could probably see a retest of the round number 1.35000 to 1.35500.

I have entered a short trade and locked in, but as mentioned above, we could have a decent retrace before I get full bearish confirmation signals from a 4hr perspective.

It is Friday and with Brexit looming we need to be extra cautious.
Have a great weekend Guys
Cheers
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Trade to trade another day
  • #566,842
  • Dec 18, 2020 10:28am Dec 18, 2020 10:28am
When this breaks up , and it will , we will get 1.34650 at the gu
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yes yes yes
  • #566,843
  • Dec 18, 2020 10:42am Dec 18, 2020 10:42am
strong support trendline is there from 28 august it can't easily break . gbpusd must go up , atleast 50-80 pips

guaranteed no more down movement
  • #566,844
  • Dec 18, 2020 10:42am Dec 18, 2020 10:42am
Can we hit 1.35200 .. in this 4h candle.. thats my long scalp tp
Extreme gut feeling trader
  • #566,845
  • Dec 18, 2020 10:45am Dec 18, 2020 10:45am
...just back @ desk updating charts, seeing what I missed.

88.6% of the 3451-3624 upswing @ the current dly lo / 4hr+ general fractal uptrend p/back lo. This is in the previously mentioned prev dly/wkly sw hi zone = prev res = pot sbr that started @ 3539 down to likely 3450. That prev 1hr/4hr sw lo zone = prev supp = pot supp to weds 3450 p/back lo is confluential with it with 50% 3279-3624 @ it's base. Dly below.

Barring a no-deal brexit announcement or some such £ negative thing, the wkly candle is almost certain to close bullish now ?
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Trader with an Edge.
  • #566,846
  • Dec 18, 2020 10:47am Dec 18, 2020 10:47am
Quoting maheeee
strong support trendline is there from 28 august it can't easily break . gbpusd must go up , atleast 50-80 pips guaranteed no more down movement
Quite a bold statement
  • #566,847
  • Dec 18, 2020 10:48am Dec 18, 2020 10:48am
Quoting Moty
{quote} Maybe but there is a correction to complete First we go to 1.34650 (maybe the crooks will make falsebreak) Then we will retrace to right shoulder and then to 1.33750 , 50% retracement {image}
It does that thing as usual like you say, I am long from 82 - from the old bullish SM area - if BE SL hit then I am out till Monday, seems I missed some sellers before - will try to be more attentive next week, bye everyone till Monday and have a good weekend
Always Defend your investment 1775
  • #566,848
  • Dec 18, 2020 10:49am Dec 18, 2020 10:49am
Quoting maheeee
strong support trendline is there from 28 august it can't easily break . gbpusd must go up , atleast 50-80 pips guaranteed no more down movement
Would that guarantee be as good as your statement from y/day evening,? (london time) ie ' gbpusd will go below today's opening price within few minutes....and candle will end as bear...........' I think we all know what happened to that lol !
Trader with an Edge.
  • #566,849
  • Dec 18, 2020 10:54am Dec 18, 2020 10:54am
Quoting montygoldy
Can we hit 1.35200 .. in this 4h candle.. thats my long scalp tp
Casino account...
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Extreme gut feeling trader
  • #566,850
  • Dec 18, 2020 10:57am Dec 18, 2020 10:57am
U.s stimulus deal could steal the limelight this w/e ?

from fxlive.com
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Trader with an Edge.
  • #566,851
  • Dec 18, 2020 10:58am Dec 18, 2020 10:58am
Quoting fxmasterdxb
Took a long @ 1.3485
Closed @ 1.3500
  • #566,852
  • Dec 18, 2020 11:04am Dec 18, 2020 11:04am
Quoting fxmasterdxb
{quote} Closed @ 1.3500
well done
https://linktr.ee/Soultrader
  • #566,853
  • Dec 18, 2020 11:06am Dec 18, 2020 11:06am
how many are closing down for Christmas today?

I'm considering - year end institutional settlements due etc etc. lot of traders finished today in london for the holidays. i'd think half staffed for next week - it could mean some good moves but also some severe spiking
https://linktr.ee/Soultrader
  • #566,854
  • Dec 18, 2020 11:07am Dec 18, 2020 11:07am
Quoting soultrader
{quote} well done
Thanks
  • #566,855
  • Dec 18, 2020 11:08am Dec 18, 2020 11:08am
Nice part of the world you live in buddy. are you arabian yourself?
https://linktr.ee/Soultrader
  • #566,856
  • Dec 18, 2020 11:17am Dec 18, 2020 11:17am
Quoting soultrader
Nice part of the world you live in buddy. are you arabian yourself?
Yes im, originally from dubai and living in dubai
  • #566,857
  • Dec 18, 2020 11:18am Dec 18, 2020 11:18am
Quoting fxmasterdxb
{quote} Yes im, originally from dubai and living in dubai
Thats nice, amyway, pleased to meet you.

the impression is that everyone who lives there is a billionaire - are you? LOL
https://linktr.ee/Soultrader
  • #566,858
  • Dec 18, 2020 11:20am Dec 18, 2020 11:20am
Quoting soultrader
how many are closing down for Christmas today? I'm considering - year end institutional settlements due etc etc. lot of traders finished today in london for the holidays. i'd think half staffed for next week - it could mean some good moves but also some severe spiking
I think you are broadly right about London although this year may be a bit different re expectation of a brexit deal (or not) announcement is possible - but who knows? I'll probably trade up to day before xmas eve - quite like those thin liquidity spikes so long as have tight stops - have done ok from it in previous years. May also see some movement if U.s stimulus deal is done ?
Trader with an Edge.
  • #566,859
  • Dec 18, 2020 11:31am Dec 18, 2020 11:31am
must admit i fancy cable long right now just for 20 pips BUT i'm aso aware of the time of day but i'm NOST aware that it could come out that no deal is the result over the weekend and i'm not sure i want to risk a 1000 pip drop on sunday open.if it wasnt friday i'd be long now.

I KNOW that a deal will e done and we will be stiffed, but they might wait a bit longer for their mates to get in gold before they announce it.
https://linktr.ee/Soultrader
  • #566,860
  • Dec 18, 2020 11:43am Dec 18, 2020 11:43am
http://icmarkets.ctrader.com/c/NnGvn

Took it

hmm, trying to insertpicture???

i give up
https://linktr.ee/Soultrader
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