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Cable Update (GBPUSD)

  • #576,921
  • Feb 9, 2021 5:55am Feb 9, 2021 5:55am
Quoting Moty
{quote} always buy s3 , and sell r3 , it's high rate strategy
prefer to work with WP, not daily.
large picture always better.. ADR lately was low, so R3 is too close.
so 61.8 plus round number, wont short before scalping up with sl below 3750 better.

anyway 3738-3750 for me is a buy.. for today.
but hey, we've got divergence
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  • #576,922
  • Feb 9, 2021 6:08am Feb 9, 2021 6:08am
I would say 1.3745-50 area is highly confluencd area where price may hold and continue to the upside. If the zone breaks the trend support means a short term bear run, which could lead to higher impluse in my opinion.
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Fools Rushing
  • #576,923
  • Feb 9, 2021 6:10am Feb 9, 2021 6:10am
#Source :- XM
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Worth Reading...

https://www.xm.com/research/analysis...ing-out-135427
Regret is Brutal
  • #576,924
  • Feb 9, 2021 6:12am Feb 9, 2021 6:12am
On my chart, the 4h candle on DXY wicked outside of an ascending channel but closed inside, if its going up it has to be soon. Much further down could mean a breakout which means more upside for cable. Cable tested the edge of a wedge a couple of times so I tweaked my SL higher for a bit and set it to BE again. Theres also a hidden bullish divergence (DXY 4h)

Bad news for the dollar is US 10y treasury yields hit psych level 1.20 and have sharply dropped- this is the main reason for the drop in the dollar
  • #576,925
  • Feb 9, 2021 6:12am Feb 9, 2021 6:12am
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yes yes yes
  • #576,926
  • Feb 9, 2021 6:14am Feb 9, 2021 6:14am
Instead of these constant crystal ball predictions and trying to trade corrections why not wait for a correction and then the trend to resume.
Follow The Markets Structure - Patience and Discipline
  • #576,927
  • Feb 9, 2021 6:20am Feb 9, 2021 6:20am
Spike Lee is lurking in the corner..

Prices are in monthly zone. Prices broke January's high and looking to test it.

I still remain bullish above 3758
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Le$$ I$ More
  • #576,928
  • Feb 9, 2021 6:24am Feb 9, 2021 6:24am
For over 8 hours Cable has continued sideways. The engulfing candlestick on H1 and DXY gradual pullback with weak volume may all spell a short bear run for cable. Meanwhile the overall outlook of GU is bullish.

Trade with Caution!Attachment GAttachment GAttachment G
  • #576,929
  • Feb 9, 2021 7:11am Feb 9, 2021 7:11am
Quoting Jonadab
For over 8 hours Cable has continued sideways. The engulfing candlestick on H1 and DXY gradual pullback with weak volume may all spell a short bear run for cable. Meanwhile the overall outlook of GU is bullish. Trade with Caution!385874038587413858742
seems like all the action is overnight. No real retrace either
Insane in the Brain..
  • #576,930
  • Feb 9, 2021 7:15am Feb 9, 2021 7:15am
I hate that days when the price goes in the direction of the crookis,
and then gets stuck like he really has nowhere to go,
then IT makes a false break and flips over, so do your thing already MF
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yes yes yes
  • #576,931
  • Feb 9, 2021 7:16am Feb 9, 2021 7:16am
Quoting ChiForex
GU looking to be basing above 1.3740s heading to weekly targets talked about at the beginning of this month, located around 1.3820s, can reach there as soon as today. A base above there will later on target 1.3900s For now, a base above 1.3770 on daily will start the upward journey. Watch out 1.3790 resistance, base above on weekly will confirm the medium term view to monthly target 1.3900s
The attack is countinuing at 1.3790, how long can it hold on before breaking through and basing above..lets see
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #576,932
  • Edited 8:07am Feb 9, 2021 7:21am | Edited 8:07am
Quoting mysterio
{quote} Sorry i'm talking about DXY, its touched S1 on my chart, i'm short GBP from 1.3780
out BE, not loving this now

Re-shorted at 1.3785, locked in at BE.. a bit of impatience, i'm not proud
  • #576,933
  • Feb 9, 2021 7:30am Feb 9, 2021 7:30am
if she doesn't return under 1.3779,.. not simply 1.3800, but 1.3850th ( my thoughts)
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dolce vita
  • #576,934
  • Feb 9, 2021 7:38am Feb 9, 2021 7:38am
Out from short with BE. Should have kept it just above DH level as the big boys, as expected just clipped the DH.

Its a good day to sit it out.

Take care,
I

Quoting Ilvez
SL @ BE, targeting 35pips. I agree, overall GU is bullish. My take is that first they will take out yesterday high stops at 3749 before moving up again. {quote}
  • #576,935
  • Feb 9, 2021 7:43am Feb 9, 2021 7:43am
so Obvious
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yes yes yes
  • #576,936
  • Feb 9, 2021 7:49am Feb 9, 2021 7:49am
Be careful out there, for now just retail funds are collected, to be taken out shortly.


Quoting Moty
so Obvious {image} {image}
  • #576,937
  • Feb 9, 2021 7:49am Feb 9, 2021 7:49am
This is waiting for something......look at M1.
Still short....
Lost....
  • #576,938
  • Feb 9, 2021 7:59am Feb 9, 2021 7:59am
Hey Lads and Gents, looking at 1.3802 as a top, time span until midnight tonight. I have been building a short, looking at eating the 1.3622 jump but hey it is personal opinion. Peaceful and profitable trading everyone
A trader is as good as his stop loss. Understand your mistakes.
  • #576,939
  • Feb 9, 2021 8:02am Feb 9, 2021 8:02am
Hi to all...here we are, sideway
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  • #576,940
  • Feb 9, 2021 8:12am Feb 9, 2021 8:12am
DXY Trading below S3 for now.

Remaining short for GBPUSD till DXY closes the gap at 90.95.

Cheers.
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