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Cable Update (GBPUSD)

  • #568,201
  • Dec 23, 2020 2:36pm Dec 23, 2020 2:36pm
Quoting Headland
Hi Catempire, below is essentially your favoured scenario on a deal being announced ! {image}
Aye thats the one mate.

As we have discussed a deal is not as good as what we already have & it is the UK that will have had to back down, the EU can't, if there is a dweal it won't be a positive for the uk.

What we don't know is how long it will be until the truth depths of the f * ck up are known... I swey with anything, other than staying in the EU, being priced in.
Que Sera
  • #568,202
  • Dec 23, 2020 2:50pm Dec 23, 2020 2:50pm
Quoting knkie
consider this: 35% of all US dollars ever printed were printed in the last 10 months. {image}
And if there is MORE of something, it becomes cheaper!!
  • #568,203
  • Dec 23, 2020 3:05pm Dec 23, 2020 3:05pm
Hi All

Im Newbie.

This is the set up I came up by looking at price support/resistant zone.

Any comment are welcome

Thank You
Attached Image (click to enlarge)
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  • #568,204
  • Dec 23, 2020 3:16pm Dec 23, 2020 3:16pm
... unlikely to be an announcement tonight now, despite earlier reports there might/would be. Today's daily candle might still close a bullish engulf. Will be interesting to see what overnight asian session does with that. Will leave screens open tomorrow morning just to see. Dly below.

In the event of a deal being announced early tomorrow the near term potential resistances are: obviously the prev 1hr/likely 4hr sw hi zone to today's current/likely hi -3570, the 1st main upside obstacle, then the prev 1hr sw lo/hi zone to likely 3589, before the prev 1hr/4hr/dly sw hi zone to 3624 current yrly hi, and then that prev dly/wkly/minor mthly sw lo beginning @ 3711. There are of course fibs too, and above 3624 current yearly hi, near-term they are;

3639 61.8% 5016-1411
3670 50% 5930-1411
3676 76.4% 4376-1411
3712 23.6% 2.1162-1411
3742 78.6% 4376-1411
Attached Image (click to enlarge)
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Trader with an Edge.
  • #568,205
  • Dec 23, 2020 3:17pm Dec 23, 2020 3:17pm
Quoting Sang.Real
Hi All Im Newbie. This is the set up I came up by looking at price support/resistant zone. Any comment are welcome Thank You {image}
I would say very possible scenario mate BUT, better take what we have - it is a weekend and we can have gaps both ways, read my previous posts - all info is there
Always Defend your investment 1775
  • #568,206
  • Dec 23, 2020 3:19pm Dec 23, 2020 3:19pm
Quoting Sang.Real
Hi All Im Newbie. This is the set up I came up by looking at price support/resistant zone. Any comment are welcome Thank You {image}
Friend, it's an entirely possible scenario, but who knows ? It probably depends on whether there is a brexit trade deal announcement and what it is, - likely tomorrow? (morning?) now - gmt.
Trader with an Edge.
  • #568,207
  • Dec 23, 2020 3:23pm Dec 23, 2020 3:23pm
Quoting knkie
consider this: 35% of all US dollars ever printed were printed in the last 10 months. {image}
Magic printer.... unfortunately money are not going to increase the salaries....
Twitter: Rummer_grapes
  • #568,208
  • Dec 23, 2020 3:25pm Dec 23, 2020 3:25pm
Very Very hard to trade GU, high volatility with squeeze UP & DOWN, i hope news on BEXIT will be annunced soon
  • #568,209
  • Dec 23, 2020 3:46pm Dec 23, 2020 3:46pm
Quoting Mitiblotch
Shorts are piling in and adding. 2% additional shorts from morning taking it up to 61%. I believe at some point when the short term shorts are in the trap the movers will close the trap and fly price up. {image}
When I shared this image twice in the morning I knew what I was saying. 61% selling? Don't even bother to sell. Just close your eyes and buy. All my buys are now closed. I put all TP at 3560. I closed some manually. I timed it to the pip and it was an excellent day. Could have made more but profit is profit.
  • #568,210
  • Dec 23, 2020 3:51pm Dec 23, 2020 3:51pm
Quoting KiwiTrada
{quote} nice to see honesty amongst the bs, looking to defend geppy 139 000 psych sl 17 pips above
stopped now defending 140 000 hedging uj
If you are new to Forex? Say Goodbye to your account!!
  • #568,211
  • Dec 23, 2020 3:57pm Dec 23, 2020 3:57pm
Quoting Sang.Real
Hi All Im Newbie. This is the set up I came up by looking at price support/resistant zone. Any comment are welcome Thank You {image}

Just to add to my response, when I go into a swing trade from one of my repeating set-ups at pre-identified potential support or resistance I look for what the 1st 'ppa' is ie the 1st potential problem area / obstacle to the trade that it may encounter if/when it reaches it. So For eg...I was long on that 2nd test of the prev 1hr/4hr sw hi zone, now a prev 1hr sw lo zone too - marked with red arrow on 1hr below...the 1st 'main' ppa was/is the prev 1hr sw hi zone to today's current hi-3570, but before that there was the prev 30min sw hi x 2 zone to 3519 marked with the pink horizontal rectangle on chart below and sure enough it encountered sellers there..

So instead of prejudging what might happen next which is only ever one of a number of possible scenarios with every trade you take, it may be better to think in these terms. Also the ppa's always occur on a t/f above that you used for entry.

Legend:
sw = swing, ie a fractal swing.
prev = previous
pot = potential
sbr = supp becomes res
rbs = res becomes supp
ppa = potential problem area
Attached Image (click to enlarge)
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Trader with an Edge.
  • #568,212
  • Dec 23, 2020 4:01pm Dec 23, 2020 4:01pm
Quoting Mitiblotch
{quote} When I shared this image twice in the morning I knew what I was saying. 61% selling? Don't even bother to sell. Just close your eyes and buy. All my buys are now closed. I put all TP at 3560. I closed some manually. I timed it to the pip and it was an excellent day. Could have made more but profit is profit.
from where you get the collective data?
  • #568,213
  • Dec 23, 2020 4:10pm Dec 23, 2020 4:10pm
Quoting Mitiblotch
{quote} When I shared this image twice in the morning I knew what I was saying. 61% selling? Don't even bother to sell. Just close your eyes and buy. All my buys are now closed. I put all TP at 3560. I closed some manually. I timed it to the pip and it was an excellent day. Could have made more but profit is profit.
Why? I SOLD =))) at 3560
Always Defend your investment 1775
  • #568,214
  • Dec 23, 2020 4:14pm Dec 23, 2020 4:14pm
Quoting kk300
{quote} from where you get the collective data?
https://fxssi.com/tools/current-ratio?filter=GBPUSD

Note: This data in itself won't help you do much until you learn how to take advantage of it. It works best when ratios are leaning too much on one side like today. Also add pivots to it like today Asia broke price up above pivot (3374) and London couldn't even break down 3400. It was a buy setup as clear as daylight. Other things like charts and price movements help me in making my decisions.
  • #568,215
  • Dec 23, 2020 4:17pm Dec 23, 2020 4:17pm
Quoting Hunterrus84
{quote} Why? I SOLD =)))
You sold at 3350? That's about 220 pips from your entry point. If you want to hold, great! For me short term I don't appreciate anything more than 50 pips against me. But if you sold 3570 then excellent, it means you were not a seller today. You just picked the top and sold it.
  • #568,216
  • Dec 23, 2020 4:24pm Dec 23, 2020 4:24pm
Quoting Mitiblotch
{quote} You sold at 3350? That's about 220 pips from your entry point. If you want to hold, great! For me short term I don't appreciate anything more than 50 pips against me. But if you sold 3570 then excellent, it means you were not a seller today. You just picked the top and sold it.
That's the way it looked like =) you can find a screenshot at 28410-11 page, have a good weekend
Always Defend your investment 1775
  • #568,217
  • Dec 23, 2020 4:28pm Dec 23, 2020 4:28pm
Hello, this is my GBP/USD analysis, every rise represents the beginning of a level, the first rise was the first level, today's rise was the second level, now we are in the consolidation period of the second level, a we should see a big rise tomorrow and maybe a reversal after that (usually reversals occur after the third level), but if the deal is reached and it's in favor of the United Kingdom GBP value could rise a lot. Be aware that when i say tomorrow I mean that it possibly will happen during the london session, but the rise could start in any moment in reality.
Btw I trade Steve Mauro's method mixed with technical analysis.
Attached Image (click to enlarge)
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  • #568,218
  • Dec 23, 2020 4:44pm Dec 23, 2020 4:44pm
Quoting M.Fadly
i will wait at support area for buy, and sell at resisten for sell {image}
Attached Image (click to enlarge)
Click to Enlarge Name: gu2412.png Size: 64 KB
Like me, cuts losses quickly. But has more patience and lets his winn
  • #568,219
  • Dec 23, 2020 5:29pm Dec 23, 2020 5:29pm
Quoting KiwiTrada
{quote} stopped now defending 140 000 hedging uj
trading yen because only one not going on holiday till last day of this year and 1st day of new year, 140 000 is psych level, top of daily range since 11 nov, every push through has been smacked back down by bears, has paid handsomely so far until it fails I will keep trying :-)
If you are new to Forex? Say Goodbye to your account!!
  • #568,220
  • Dec 23, 2020 5:52pm Dec 23, 2020 5:52pm
Quoting Mitiblotch
{quote} https://fxssi.com/tools/current-ratio?filter=GBPUSD Note: This data in itself won't help you do much until you learn how to take advantage of it. It works best when ratios are leaning too much on one side like today. Also add pivots to it like today Asia broke price up above pivot (3374) and London couldn't even break down 3400. It was a buy setup as clear as daylight. Other things like charts and price movements help me in making my decisions.
Thanks. Appriciated.. i have my system in place.. will act accordingly.. before that i use only ig client sentiment.. i ll have a look into it also.
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