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Cable Update (GBPUSD)

Quoting coryaaron
{quote} Agreed, thoughts on asian market opening times though? I’ve noticed tons of growth in GU seems to happen at about 2am-4am GMT.
Can't comment - usually in the land of nod.
Play it by beer!!!
GBP currently goes crazy. GBP/CHF is even more ugly, in Eur/gbp is no retrace at all anymore. I really don't know what's going on. No news, only vaccin stuff but no one knows anything.

Here a little anecdote from 2018... for all long term fetishists among you who think no one can hurt you anymore... see what happened:

Red line in 200 ma 1 minute.... (because everyone says always, only go long above 200 ma, short below etc. etc.). Imagine you jumped in on the last retrace before top...

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Quoting ChiForex
GU is caught in a sandwich btw keeping the bullish trend by turtling upward and being already overbought. After retracing to past resistance now support 1.4090 bounced back up, looking to be going soon to 1.4120s nearing the crucial resistance 1.4130-40 We are on the verge of a big decision, 20-30pips from there, a monthly open above there is very bullish. Any shorts must keep that level in mind for SL. A retrace still have wide range down but that must happen in only 3 days to go.. Tomorrow BOE news and Powell again.. Lets see if GU bulls will...
IMHO GU still has a little rise to the said 1.4130-40 as a Max push then the sharp fall will come for some reason, mostly fundamental to join the technical outlook that's already overbought.
I'll bet on that..and anyways SL is easy, tight and nearby at a base above 1.4130/40 on monthly while TP is way down..
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
Quoting ChiForex
{quote} IMHO GU still has a little rise to the said 1.4130-40 as a Max push then the sharp fall will come for some reason, mostly fundamental to join the technical outlook that's already overbought. I'll bet on that..and anyways SL is easy, tight and nearby at a base above 1.4130/40 on monthly while TP is way down..
How sharp is this fall going to be in your non financial advisory opinion? Are you on about a correction to the 1.385 level where we’d see it continue up, or a full on 1.32 everybody looking to short is on about?
Why not just trade the trend?

Quoting JackintheBox
GBP currently goes crazy. GBP/CHF is even more ugly, in Eur/gbp is no retrace at all anymore. I really don't know what's going on. No news, only vaccin stuff but no one knows anything. Here a little anecdote from 2018... for all long term fetishists among you who think no one can hurt you anymore... see what happened: Red line in 200 ma 1 minute.... (because everyone says always, only go long above 200 ma, short below etc. etc.). Imagine you jumped in on the last retrace before top... {image}
I do not pretend to be an expert..,

I would like to call it:

"...cable during covid time"

P.S. this week is already 7th Week of Bull Candles in a row
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dolce vita
Quoting Ilvez
Why not just trade the trend? {quote}
Ummm...see my chart ?! That was a nice uptrend- until it reversed so crazy that you could not get out anymore at all. That happens quite often, also on GBP/USD today.
Quoting coryaaron
{quote} How sharp is this fall going to be in your non financial advisory opinion? Are you on about a correction to the 1.385 level where we’d see it continue up, or a full on 1.32 everybody looking to short is on about?
Agree with the dilemma here.
If you don't find it fall like a stone on M15, then the uptrend is not over yet. That's how I want to take it on this now.
My observation may be wrong but intent correct. Stay calm!
Quoting parshal
{quote} Agree with the dilemma here. If you don't find it fall like a stone on M15, then the uptrend is not over yet. That's how I want to take it on this now.
There is something pushing this sucker up and it is not eager to let that go surely it’d be in their best profitable interest to just stop pushing it up and put in a huge sell order, taking the profits and slowly working it back up in months to come, just my opinion though and i’m not as experienced as many people in here so.

Will be interesting to see the next few days, especially the asian markets in my opinion, i’ve noticed they typically push it up overnight.
Quoting coryaaron
{quote} There is something pushing this sucker up and it is not eager to let that go surely it’d be in their best profitable interest to just get ready stop pushing it up and put in a huge sell order, taking the profits and slowly working it back up in months to come, just my opinion though and i’m not as experience as many people in here so. Will be interesting to see the next few days, especially the asian markets in my opinion, i’ve noticed they typically push it up.
On the contrary I don't understand if it's just because DXY is weak, then why does EURUSD not shoot up like cable.
There are also some positive fundamentals in the eurozone lately except the vaccination thing.
My observation may be wrong but intent correct. Stay calm!
Quoting parshal
{quote} On the contrary I don't understand if it's just because DXY is weak, then why does EURUSD not shoot up like cable. There are also some positive fundamentals in the eurozone lately except the vaccination thing.
Honestly, it’s very strange. I definitely agree with some of the comments in this thread that there must be some huge players boosting this up right now as good news, bad news, cable goes up . I think the UK could do anything right now, no matter how politically, humanly, economically wrong it was, and somehow, the pound would go up . Intriguing to say the least.

Wishing you the best in green pips though!
Quoting Theoak
{quote} Can't comment - usually in the land of nod.
Seems like Cable is a good investment than GOLD or atleast better than the Blonde
My observation may be wrong but intent correct. Stay calm!
Latina better
Quoting W0lfram
{quote} To support your idea, possible three drives pattern. My tp 1770, but I have bad luck... {image}{image}
127.2+127.2 ≠ 1.29+1.28 in your chart.



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GBP/USD
What do you mean by: “Could not get out of the trade?”

Take the appropriate stoploss, move on to new opportunities, case closed.

Quoting JackintheBox
{quote} Ummm...see my chart ?! That was a nice uptrend- until it reversed so crazy that you could not get out anymore at all. That happens quite often, also on GBP/USD today.
Quoting babayaga
I do not pretend to be an expert.., I would like to call it: "...cable during covid time" P.S. this week is already 7th Week of Bull Candles in a row {image} {image}
No COVID.
It's call "Bla Bla Bla Brexit trend" trading...
GBP/USD
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Quoting JackintheBox
GBP currently goes crazy. GBP/CHF is even more ugly, in Eur/gbp is no retrace at all anymore. I really don't know what's going on. No news, only vaccin stuff but no one knows anything. Here a little anecdote from 2018... for all long term fetishists among you who think no one can hurt you anymore... see what happened: Red line in 200 ma 1 minute.... (because everyone says always, only go long above 200 ma, short below etc. etc.). Imagine you jumped in on the last retrace before top... {image}
I wouldn't be using terms like "everyone". You need to be asking yourself why you are using the 200 ema and what it means to you and what you can do with it to affect your trading decisions
Quoting gatenio
{quote} almost sure its going more then 1820.. tonight/tomorrow.. watch your h4 trend is fresh from the oven
switched to long
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don't try to tell the market where to go , let him tell you
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GBP/USD
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