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Cable Update (GBPUSD)

  • #580,081
  • Feb 23, 2021 2:00pm Feb 23, 2021 2:00pm
Thoughts on asian market open?
GU 1.412? or GU 1.4
  • #580,082
  • Feb 23, 2021 2:12pm Feb 23, 2021 2:12pm
who is doing what?
Is there still scope for a short position?
I have given up for the moment.
My observation may be wrong but intent correct. Stay calm!
  • #580,083
  • Feb 23, 2021 2:14pm Feb 23, 2021 2:14pm
Quoting parshal
who is doing what? Is there still scope for a short position? I have given up for the moment.
I’m the same, just observing but it’s really not budging either way really
  • #580,084
  • Feb 23, 2021 2:15pm Feb 23, 2021 2:15pm
Quoting Moty
{image}
To support your idea, possible three drives pattern. My tp 1770, but I have bad luck...
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Air force
  • #580,085
  • Feb 23, 2021 2:22pm Feb 23, 2021 2:22pm
Quoting coryaaron
{quote} I’m the same, just observing but it’s really not budging either way really
No juice in the market. Its a waste of time till tomorrow!!!
Don't trade what you think. Just what you see!!!
  • #580,086
  • Feb 23, 2021 2:28pm Feb 23, 2021 2:28pm
Quoting Theoak
{quote} No juice in the market. Its a waste of time till tomorrow!!!
Agreed, thoughts on asian market opening times though? I’ve noticed tons of growth in GU seems to happen at about 2am-4am GMT.
  • #580,087
  • Feb 23, 2021 2:28pm Feb 23, 2021 2:28pm
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 hit and run from here or keep hold on steady up movement!
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #580,088
  • Feb 23, 2021 2:53pm Feb 23, 2021 2:53pm
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.
Don't trade what you think. Just what you see!!!
  • #580,089
  • Feb 23, 2021 3:45pm Feb 23, 2021 3:45pm
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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  • #580,090
  • Feb 23, 2021 4:08pm Feb 23, 2021 4:08pm
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
  • #580,091
  • Feb 23, 2021 4:11pm Feb 23, 2021 4:11pm
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?
  • #580,092
  • Feb 23, 2021 4:22pm Feb 23, 2021 4:22pm
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}
  • #580,093
  • Feb 23, 2021 4:29pm Feb 23, 2021 4:29pm
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
  • #580,094
  • Feb 23, 2021 4:32pm Feb 23, 2021 4:32pm
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.
  • #580,095
  • Feb 23, 2021 4:39pm Feb 23, 2021 4:39pm
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!
  • #580,096
  • Feb 23, 2021 4:42pm Feb 23, 2021 4:42pm
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.
  • #580,097
  • Feb 23, 2021 4:51pm Feb 23, 2021 4:51pm
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!
  • #580,098
  • Feb 23, 2021 4:53pm Feb 23, 2021 4:53pm
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!
  • #580,099
  • Feb 23, 2021 4:58pm Feb 23, 2021 4:58pm
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!
  • #580,100
  • Feb 23, 2021 5:10pm Feb 23, 2021 5:10pm
Latina better
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