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Cable Update (GBPUSD)

  • #576,401
  • Feb 5, 2021 2:47am Feb 5, 2021 2:47am
I have started building my short trades starting from this 1.37 with further pending sell trades at 1.3770 and 1.3850 to gradually target 1.36... 1.35 and 1.33 area in days/weeks ahead.

My new bearish bias is based on the fact that 1.3580 got broken yesterday and this pair has not bought for 5 consecutive months since year 2006.

My February to March Projection is 1.3880 - 1.3060

While my 2021 projection is 1.43 - 1.28...

Please trade with utmost caution and good luck to us all.
Data + Stat + Risk/Emotions Management
  • #576,402
  • Feb 5, 2021 2:48am Feb 5, 2021 2:48am
Quoting Moty
{quote} {file}{file}{file}
how to insert this on my chart?
  • #576,403
  • Feb 5, 2021 2:50am Feb 5, 2021 2:50am
Quoting Georginson
I have started building my short trades starting from this 1.37 with further pending sell trades at 1.3770 and 1.3850 to gradually target 1.36... 1.35 and 1.33 area in days/weeks ahead.
Good shout
  • #576,404
  • Feb 5, 2021 2:54am Feb 5, 2021 2:54am
Back on the dollar leash
  • #576,405
  • Feb 5, 2021 2:54am Feb 5, 2021 2:54am
Quoting Georginson
I have started building my short trades starting from this 1.37 with further pending sell trades at 1.3770 and 1.3850 to gradually target 1.36... 1.35 and 1.33 area in days/weeks ahead. My new bearish bias is based on the fact that 1.3580 got broken yesterday and this pair has not bought for 5 consecutive months since year 2006. My February to March Projection is 1.3880 - 1.3060 While my 2021 projection is 1.43 - 1.28... Please trade with utmost caution and good luck to us all.
why shorting breakup ? i don't understand
Attached Image (click to enlarge)
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yes yes yes
  • #576,406
  • Feb 5, 2021 2:57am Feb 5, 2021 2:57am
Quoting Moty
{quote} why shorting breakup ? i don't understand {image}
Hey Moty... I'm a swing trader and I position my trades for both short term and medium term outlook... Now that 1.3580 got broken, I'm convinced the bears will now start dominating hence I start building my short trades from 1.37-1.38 area. I will be patient and not emotional about these movements.
Data + Stat + Risk/Emotions Management
  • #576,407
  • Feb 5, 2021 2:59am Feb 5, 2021 2:59am
its bad to trade daily chart because on daily trend 50-100 pips its nothing.you see trend and see it should drop but before it it can go 100 another pips up.better trade 4h.
  • #576,408
  • Edited 3:17am Feb 5, 2021 3:02am | Edited 3:17am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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yes yes yes
  • #576,409
  • Feb 5, 2021 3:03am Feb 5, 2021 3:03am
Quoting BadshahFX
{quote} Can you please post the chart
Attached Image (click to enlarge)
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twitter: @gettoefl
  • #576,410
  • Feb 5, 2021 3:03am Feb 5, 2021 3:03am
Banks are going to make big money from traders today.


https://www.investing.com/analysis/n...mism-200558744

the leading indicators point to a potentially better-than-expected reading from the January NFP report, with headline job growth potentially seeing an increase of 100-200k jobs
My observation may be wrong but intent correct. Stay calm!
  • #576,411
  • Feb 5, 2021 3:03am Feb 5, 2021 3:03am
Buy @1.37027 - TP 30 pips - ST -60 pips
Buy @1.37027 - TP none - ST -60 pips
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  • #576,412
  • Feb 5, 2021 3:04am Feb 5, 2021 3:04am
Dxy has just crossed the trend line more down for Dxy and up for GBP
  • #576,413
  • Feb 5, 2021 3:07am Feb 5, 2021 3:07am
Quoting Georginson
{quote} Hey Moty... I'm a swing trader and I position my trades for both short term and medium term outlook... Now that 1.3580 got broken, I'm convinced the bears will now start dominating hence I start building my short trades from 1.37-1.38 area. I will be patient and not emotional about these movements.
agree, but we need to take it day by day.
I want 1.3725 to short. But i will wait for NFP first.
  • #576,414
  • Feb 5, 2021 3:08am Feb 5, 2021 3:08am
Quoting pinguin
{quote} would you share your view regarding EU please ??
Sure. But don't rely on it I've traded EU just a couple of times before and need time to research and 'feel' the asset.
Anyway, at the moment 1H divergences and strong inverse correlation with DXY suggest an upward movement (and it has already moved)
My pending order got filled, so I stay.
Attached Image (click to enlarge)
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DXY possible downward move. But thing may change drastically before news. And need to check smaller timeframes.
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Air force
  • #576,415
  • Feb 5, 2021 3:11am Feb 5, 2021 3:11am
i dont want to buy here better wait sell,but today its friday,so sell can be i dont know level.its h4.h4 need down i would say.trend daily up.can be 1.37200 around or i dont know because on friday.logically wait sell.
  • #576,416
  • Feb 5, 2021 3:16am Feb 5, 2021 3:16am
I London
Are you ?
  • #576,417
  • Feb 5, 2021 3:22am Feb 5, 2021 3:22am
Quoting Sang.Real
{quote} GU Waiting for L.O. Hold or Closed ?.......... {image}

GU

Cut Loss.

Re-Enter Short Scalping.


Hope it goes well....
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  • #576,418
  • Feb 5, 2021 3:25am Feb 5, 2021 3:25am
Quoting gatenio
{quote} agree, but we need to take it day by day. I want 1.3725 to short. But i will wait for NFP first.
You are correct about the day by day thing. The issue now is price tends to range most of the time but gets volatile when traders least expect it, so I prefer to be trading in the direction of possible break out, so I don't get caught napping.

Daily trading can be very erratic and can change easily which mostly results to trap. Traders need to find their area and methodology of strength and build on it.
Data + Stat + Risk/Emotions Management
  • #576,419
  • Feb 5, 2021 3:29am Feb 5, 2021 3:29am
Quoting Moty
{quote} why shorting breakup ? i don't understand {image}
'morning,
perhaps due to the pink area of your chart.
seems that general sentiment is bearish trough here.
to me also, but i rather short near 1.37236/340. if it gets there.
despite price going up on lower volume and being now at extreme M15/H1.
stay cool.
If you don't know how to earn money, don't loose it.
  • #576,420
  • Feb 5, 2021 3:29am Feb 5, 2021 3:29am
Attached Image (click to enlarge)
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yes yes yes
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