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Cable Update (GBPUSD)

  • #581,281
  • Mar 1, 2021 12:48pm Mar 1, 2021 12:48pm
There is a war going on between the buyers and sellers, let's see who win this war. I pray the sellers win this war because I'm in the sellers team
  • #581,282
  • Mar 1, 2021 12:49pm Mar 1, 2021 12:49pm
Quoting gespiri
{quote} Dude, forget about it. That's why I blocked him a long time ago....
Yes of course Gespiri,
Did that before and gave him a second chance. So no go this time.
Cheers.
Trade to trade another day
  • #581,283
  • Mar 1, 2021 12:51pm Mar 1, 2021 12:51pm
Quoting Olabanji-Tex
Hello everyone, I think the GBPUSD price is trading between the 1.3900 and 1.4000 price level. Check out this 4 hour GBPUSD chart that I posted. {image}
I found a fellow Nigerian here
  • #581,284
  • Edited 1:08pm Mar 1, 2021 12:53pm | Edited 1:08pm
Short in at 1.3904
MOMENTUM CHANGE
OUT + 1 PIP
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Don't trade what you think. Just what you see!!!
  • #581,285
  • Mar 1, 2021 12:53pm Mar 1, 2021 12:53pm
one more push down
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yes yes yes
  • #581,286
  • Mar 1, 2021 1:10pm Mar 1, 2021 1:10pm
Quoting Coreg2004
just choose the side of the market you want to play...short or long doesn't matter as long as we follow our plan {image}
Coreg, would this count be considered a Wave A(5) at this point?
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Lost....
  • #581,287
  • Mar 1, 2021 1:21pm Mar 1, 2021 1:21pm
It might make the move around Tokyo session I think, though it is an unclear HNS pattern and price usually ranges in the Asia hours
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  • #581,288
  • Mar 1, 2021 1:26pm Mar 1, 2021 1:26pm
Quoting trumps
{quote} Although having said this, it would be nice to see the $ return to 0.93 area {image}
Or also 98
  • #581,289
  • Edited 3:19pm Mar 1, 2021 1:33pm | Edited 3:19pm
Quoting trumps
{quote} Hi Headland, What would be your view of 'short term' in this context? I don't really understand how it will become $+ve. In the past, these stimulus/liquidity measures have boosted stocks and driven the $ down from the movement of cash into these markets. Keen to understand your view on this.
Hi... In a nutshell ...probable short term dollar boost because of the boost to the wider economy with covid support package and in particular support cheques to public stoking inflationary pressures. Add this to the stuff going on in bond markets in U.s re T-notes and expectations , rightly or wrongly, of a fed rate hike and subsequent dollar demand. I think the context is different this time 're the focus on economic recovery and belief that with the vaccines we could be at the beginning of getting covid19 fiinally under control 're no more lock downs, and the bond market. It's always all about context. Also the probable £ negative brexit effects haven't gone away and will become more apparent and back into the market's focus, it's just that there has been 'another show in town' in the interim, swallowing all the attention.

Of course it remains to be seen what effect the U.s covid stimulus package may actually have on markets, or indeed if it will even pass in the Senate, (unchanged.) The advantage we have as technical traders is that we can trade what actually happens led by PA. Ie trade what we see - not what we think.
Trader with an Edge.
  • #581,290
  • Mar 1, 2021 2:11pm Mar 1, 2021 2:11pm
Quoting Amin1422
It might make the move around Tokyo session I think, though it is an unclear HNS pattern and price usually ranges in the Asia hours {image}
Without any objection, I tend to agree to this post. More down movement expected
  • #581,291
  • Mar 1, 2021 2:13pm Mar 1, 2021 2:13pm
Quoting gespiri
{quote} Coreg, would this count be considered a Wave A(5) at this point? {image}
gespiri, honestly I am not sure because DX clouds my judgment...somehow I see one more push down by DX unless the market proves me wrong.
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Always trade your own plan...I don't provide trading signals.
  • #581,292
  • Mar 1, 2021 2:19pm Mar 1, 2021 2:19pm
Quoting Headland
{quote} Hi... In a nutshell ...probable short term dollar boost because of the boost to the wider economy with covid support package and in particular support cheques to public stoking inflationary pressures. Add this to the stuff going on in bond markets in U.s re T-notes and expectations , rightly or wrongly, of a fed rate hike and subsequent dollar demand. I think the context is different this time 're the focus on economic recovery and belief that with the vaccines we could be at the beginning of getting covid19 fiinally under control 're no...
Ok great stuff, thx Headland
Compulsions can be hard to resist
  • #581,293
  • Mar 1, 2021 2:20pm Mar 1, 2021 2:20pm
i moved my tp to the adr low area , 1.39080
price need to drop more , but not today
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yes yes yes
  • #581,294
  • Mar 1, 2021 2:40pm Mar 1, 2021 2:40pm
Inserted Video
  • #581,295
  • Mar 1, 2021 2:45pm Mar 1, 2021 2:45pm
keep rolling
  • #581,296
  • Mar 1, 2021 3:06pm Mar 1, 2021 3:06pm
Good luck Moty!

Just watch very closely out for bounce up - price is not really convincingly for now willing to break 3900 level, GBP is still very bullish and 3900 was the place where last buying rally started.

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Take care,
I

Quoting Moty
i moved my tp to the adr low area , 1.39080 price need to drop more , but not today {image}
  • #581,297
  • Mar 1, 2021 3:43pm Mar 1, 2021 3:43pm
...consolidation now within consolidation (with a bearish bias,) today, double top @ current and likely dly hi, double bottom @ current and maybe daily lo. 1hr below.
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Trader with an Edge.
  • #581,298
  • Edited 4:00pm Mar 1, 2021 3:43pm | Edited 4:00pm
Today could be one of those funny days where the pair open and close on the same rate ie with a 0 pip loss or gain.
Insane in the Brain..
  • #581,299
  • Mar 1, 2021 4:30pm Mar 1, 2021 4:30pm
Normally I trade with Renko brick size of 10 but it looks like that Renko brick size of 5 gives better results with a smoother chart. Any comment?
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  • #581,300
  • Mar 1, 2021 4:59pm Mar 1, 2021 4:59pm
heading to 1.39258, if breaks up then 1.39399 is next target.
If you don't know how to earn money, don't loose it.
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