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Cable Update (GBPUSD)

  • #567,161
  • Dec 21, 2020 3:43am Dec 21, 2020 3:43am
Quoting nutgm5169
now gu closed gap already let’s see next
which gap are yoi talking about???last weeks ga, traders here kept shorting shorting for gap closure 1 3225 she went to 3622 still not closed, many trades stopped, now seems the same situation todays gap, traders trying to trade gap closure, 3500ish now 3230 traders trying to buy buy buy for gap closure, pa keeps dropping again many trades being stopped, it is lunacy, to try catch a falling knife, at the best of times, more patience required??last weeks "gap" about to close, so what now, geppy closed last weeks "gap" 2 hrs ago, and appears to be keep on trucking, possible lesson to lose, dont buy the gap closure except quick scalps, and wait to see if it actually is a support worth defending???
If you are new to Forex? Say Goodbye to your account!!
  • #567,162
  • Dec 21, 2020 3:44am Dec 21, 2020 3:44am
Quoting Georginson
{quote} 1.3230 almost conquered, 1.3060 looms in days ahead.
1.3230 done ... Gap closed... Mission accomplished.

Now allow for retracement back to 1.3350 before new round of selling.
Data + Stat + Risk/Emotions Management
  • #567,163
  • Dec 21, 2020 3:46am Dec 21, 2020 3:46am
Bull market, they said.
Soon to 1.4, they said.
Fundamentals don't matter, they said.
  • #567,164
  • Dec 21, 2020 3:47am Dec 21, 2020 3:47am
Quoting Georginson
{quote} 1.3230 done ... Gap closed... Mission accomplished.
More to come mate
Compulsions can be hard to resist
  • #567,165
  • Dec 21, 2020 3:47am Dec 21, 2020 3:47am
Quoting Catempire
{quote} That is a signal bad times on assets ahead. This winter will be a good run for the bears on the stock markets.
i wouldn't project that far. i reckon it's something more current.
In tea leaves we trust!
  • #567,166
  • Dec 21, 2020 3:48am Dec 21, 2020 3:48am
The bears have arrived

not sure we will get any significant retrace tbh

Que Sera
  • #567,167
  • Dec 21, 2020 3:49am Dec 21, 2020 3:49am
Quoting Sang.Real
{quote} Hi Bartosz, Honestly, I don't know why it goes down. As newbie, I just learn Basic Support and Resistant to trade,. As for now, my trade only base SNR zone. I'm waiting for the price to come to me ( waiting for GU to hit the buy zone) I marked those zone and trade it as it is. I hope to learn more from many professional, experienced and expert traders in this forum Sincerely Newbie aka Sang Real
Don't make the mistake like many other traders and only focus on the technical aspect (technical analysis) of the market. Only retail traders use purely TA and as we all know: 90% of retail traders lose money.

The real driving force behind the markets are the fundamentals. Technicals play a role too, yes, but they need to be used correctly. So don't try to buy the bottom or sell the top. Understand why the market moves and move with it, instead of against it.

For GU, why it goes down: Market sentiment.

  1. No Brexit breakthrough, EU's deadline was Sunday. Talks are said to continue, UK says "after christmas".
  2. UK shut because of new Corona strain fear.
  3. Market in "risk-off" mode: Strengthening safe-heavens (USD, JPY, CHF) while pressuring antipodeans (AUD, NZD), commodities and equities.

  • #567,168
  • Dec 21, 2020 3:50am Dec 21, 2020 3:50am
Europe already banned UK flights and rest of the world is also banning UK over new covid variant
be patient
  • #567,169
  • Dec 21, 2020 3:50am Dec 21, 2020 3:50am
bulls are done.. they are being beaten back and blue. nothing much to cause damage now. most of the sell stops are done. we ride now

Quoting forexdhaka
Europe already banned UK flights and rest of the world is also banning UK over new covid variant
India just banned flights from UK
  • #567,170
  • Dec 21, 2020 3:50am Dec 21, 2020 3:50am
i add to my long 1.3225
Make money by doing the opposite of Giveachance aka loser
  • #567,171
  • Dec 21, 2020 3:51am Dec 21, 2020 3:51am
Funny how when price goes up, the TA traders bash FA and when it goes down, vice versa.
  • #567,172
  • Dec 21, 2020 3:51am Dec 21, 2020 3:51am
Quoting KiwiTrada
{quote} which gap are yoi talking about???last weeks ga, traders here kept shorting shorting for gap closure 1 3225 she went to 3622 still not closed, many trades stopped, now seems the same situation todays gap, traders trying to trade gap closure, 3500ish now 3230 traders trying to buy buy buy for gap closure, pa keeps dropping again many trades being stopped, it is lunacy, to try catch a falling knife, at the best of times, more patience required??last weeks "gap" about to close, so what now, geppy closed last weeks "gap" 2 hrs ago, and appears...
lol.. u must be happy now. geppy has been sink today
  • #567,173
  • Dec 21, 2020 3:52am Dec 21, 2020 3:52am
Quoting miedpreneur
{quote} but who knows moty see something else.. maybe it can go up there as moty said..
It seems moty blows up one account after another, until he is right once in a while.
  • #567,174
  • Dec 21, 2020 3:58am Dec 21, 2020 3:58am
Where are the arrogant bulls? They need to understand that the crash is usually faster than the rise. A lesson taught to them again. Now expect 1.3350.
Data + Stat + Risk/Emotions Management
  • #567,175
  • Dec 21, 2020 3:58am Dec 21, 2020 3:58am
Quoting mw108
{quote} Don't make the mistake like many other traders and only focus on the technical aspect (technical analysis) of the market. Only retail traders use purely TA and as we all know: 90% of retail traders lose money. The real driving force behind the markets are the fundamentals. Technicals play a role too, yes, but they need to be used correctly. So don't try to buy the bottom or sell the top. Understand why the market moves and move with it, instead of against it. For GU, why it goes down: Market sentiment. No Brexit breakthrough, EU's deadline...
Hi mw108.

Thank you for sharing knowledge with Newbie like me.

I have yet to learn Fundamental in forex trading ( just started live account 6 months ago).

This year, i only managed to complete my BabyPips course and learning Support/Resistant.

Maybe I will learn Price Structure in Jan 2021 and Fundamentals in October 2021.

Meanwhile, I've picked up a lot of lesson & knowledge from Professional Traders like you on trading GBP.

Keep up the good work to help Newbie.

Sincerly

Sang Real
  • #567,176
  • Dec 21, 2020 3:59am Dec 21, 2020 3:59am
Quoting Georginson
Where are the arrogant bulls? They need to understand that the crash is usually faster than the rise. A lesson taught to them again. Now expect 1.3350.
Probably waiting to buy.
  • #567,177
  • Dec 21, 2020 3:59am Dec 21, 2020 3:59am
Quoting mw108
{quote} It seems moty blows up one account after another, until he is right once in a while.
I believe (not know) that people spend too much time and effort on direction rather than money management
  • #567,178
  • Dec 21, 2020 4:01am Dec 21, 2020 4:01am
Seems the reality of brexit and a fucked U.K. economy is finally sinking in.

think the value of cable is going to surprise every one of not one savvy rich man will want £’s until it looks cheap
Que Sera
  • #567,179
  • Dec 21, 2020 4:01am Dec 21, 2020 4:01am
Quoting giveachance
{quote} lol.. u must be happy now. geppy has been sink today
not to brag friday I defended geppy 140 00 cable 1 3600 au 76c kiwi 71c today gold 1900 silver 27 000 cad 127 00 swissy 8850 eu todays open, this got stopped by that shit spike last hr, (bitch almost retraced as typing) so yes pretty dam happy at the moment
If you are new to Forex? Say Goodbye to your account!!
  • #567,180
  • Dec 21, 2020 4:01am Dec 21, 2020 4:01am
Quoting Mcbeaners
{quote} i wouldn't project that far. i reckon it's something more current.
It’s what I do for a living.

I can give a list of reasons why the markets will sell off & have said so for last month or longer.

this winter will be a bear market across assets.
Que Sera
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