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Cable Update (GBPUSD)

  • #583,121
  • Mar 10, 2021 10:01am Mar 10, 2021 10:01am
Quoting Moty
{image}
So beautiful ~ you must be the reincarnation of the Mr.Jesse Livermore
  • #583,122
  • Edited 10:22am Mar 10, 2021 10:01am | Edited 10:22am
Looks like the 4h closed juuust outside the channel on dollar index.

It's too close to call but if that holds then dollar continues its downtrend, cable should break the last high pretty soon and the path is open to 1.40. Feel better about my long. Stop at BE anyway, FX is great at making you feel safe then reducing you to tears when you least expect it.

Still not sure if I called that too soon, its still fighting. Euro also trying to decide if it wants to stay inside its bull flag channel.

edit- stopped out BE and close to shorting now because we're back in the dxy channel
  • #583,123
  • Mar 10, 2021 10:06am Mar 10, 2021 10:06am
Quoting DailyChart
{quote} So beautiful ~ you must be the reincarnation of the Mr.Jesse Livermore

Do you mean he will put a bullet into his head? In a hotel room? Soon?
Maadik Hugiis. IQ 69.
  • #583,124
  • Mar 10, 2021 10:06am Mar 10, 2021 10:06am
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heiken ashi is positive from h4 and under , so every signal at m5 it's a buy
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yes yes yes
  • #583,125
  • Mar 10, 2021 10:06am Mar 10, 2021 10:06am
Quoting Coreg2004
{quote} MTF Test, can GU brake 1.4008 after shallow C? {image}
Hey Coreg,

If you ask me. my simple answer would be '' I don't know''. I would never know what's going to happen next.

BTW, i am a fan of your charts.
Fools Rushing
  • #583,126
  • Mar 10, 2021 10:09am Mar 10, 2021 10:09am
I feel your pain - I had only virtual trading day due to other commitments, broke my heart as the calls would have been right

As I see it Cable is relatively stronger against USD at the moment, meaning that correlation to USDX is there but slightly weaker. 200MA on 4H TF has provided ample resistance and accumulation, which in my books will give Cable short term boost upwards.

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Upward move is supported by large players increasing long positions in GU in March as well:

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But does it all matter from daytrader perspective whose stops can be hit 10 times per day in any direction...?

Probably its just good to follow PA and short term S/R.

Keep on bending the cable!

Quoting mysterio
{quote} 15 mins decides it {image}
  • #583,127
  • Mar 10, 2021 10:19am Mar 10, 2021 10:19am
Quoting Ilvez
I feel your pain - I had only virtual trading day due to other commitments, broke my heart as the calls would have been right As I see it Cable is relatively stronger against USD at the moment, meaning that correlation to USDX is there but slightly weaker. 200MA on 4H TF has provided ample resistance and accumulation, which in my books will give Cable short term boost upwards. {image} Upward move is supported by large players increasing long positions in GU in March as well: {image} But does it all matter from daytrader perspective whose...
about March.., it looks to be bullish to me, yes

but it is still plenty of time, today only the 10th

I am selling right now..,
dolce vita
  • #583,128
  • Mar 10, 2021 10:20am Mar 10, 2021 10:20am
Quoting littspaniard
longs at retrace {image}
closed manually with loss
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The only constant is change
  • #583,129
  • Mar 10, 2021 10:31am Mar 10, 2021 10:31am
i had enough from waiting for the adr high
tp is at last high 1.39341
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yes yes yes
  • #583,130
  • Mar 10, 2021 10:35am Mar 10, 2021 10:35am
I still keep my buy (from 1.38156 )

but as I see right now
she has nothing left (up) to go for

she has to break 1.3845

I could be wrong
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dolce vita
  • #583,131
  • Mar 10, 2021 10:38am Mar 10, 2021 10:38am
longs
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The only constant is change
  • #583,132
  • Mar 10, 2021 10:43am Mar 10, 2021 10:43am
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  • #583,133
  • Mar 10, 2021 10:45am Mar 10, 2021 10:45am
Quoting MoneyZilla
{quote} Do you mean he will put a bullet into his head? In a hotel room? Soon?
Hahaha
  • #583,134
  • Mar 10, 2021 10:49am Mar 10, 2021 10:49am
waiting for the break
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yes yes yes
  • #583,135
  • Mar 10, 2021 10:51am Mar 10, 2021 10:51am
5M Potential BIAS
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Fools Rushing
  • #583,136
  • Mar 10, 2021 10:57am Mar 10, 2021 10:57am
Weekly trend is LONG, on daily at moment GBP momentum is retracing. USD is weak
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  • #583,137
  • Mar 10, 2021 11:04am Mar 10, 2021 11:04am
sellers hunting continues

dolce vita
  • #583,138
  • Mar 10, 2021 11:08am Mar 10, 2021 11:08am
I notice many intraday traders in this thread and less interest in swing trades. I do be dropping my views and suggestions for intraday from now on without necessarily altering the swing outlook.
Data + Stat + Risk/Emotions Management
  • #583,139
  • Mar 10, 2021 11:22am Mar 10, 2021 11:22am
Inserted Video


enjoy
while waiting
dolce vita
  • #583,140
  • Mar 10, 2021 11:22am Mar 10, 2021 11:22am
Quoting MTF Test
What do you see ? Big drop to 1.35 or consolidation towards 1.37 or 1.40 {image}
It is basically dependent on this auction at 6pm. I see the market is edging yields lower so maybe that indicates they collectively expect no surprises because of the benign inflation data. If it goes smoothly then I guess dollar continues its downtrend, if it goes like the 7y auction the other week then another treasury sell off and GU tanks. So there's no point opening anything around here based on any technical factor.

I kinda implied that the dxy channel decides it but I'm thinking about it the wrong way, the fundamental news decides it the market just hangs around at the technical turning points until the news is clear
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