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Cable Update (GBPUSD)

  • #583,181
  • Mar 11, 2021 12:56am Mar 11, 2021 12:56am
Quoting ChiForex
Very clear that GU is keeping on holding and holding on daily resistance, refusing to breakout for weekly resistance. Staying below 1.3940 can easily take it back to around 1.3900 first
1.3944-59 might be a fakeout on daily just to fill the 4hr. Above there is weekly 1.40
*Buy positions today located at 1.3900s and around 1.3875
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #583,182
  • Mar 11, 2021 1:01am Mar 11, 2021 1:01am
Sold 1.3942, currently locked in at BE TP open

Thinking the 0.5 fibo of the last major swing high/low on dxy might give a bit of retrace

Edit- out BE already, i guess not
  • #583,183
  • Mar 11, 2021 1:12am Mar 11, 2021 1:12am
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  • #583,184
  • Mar 11, 2021 1:12am Mar 11, 2021 1:12am
G/M, all about ECB stuff today later on - may have some cross-flow effect on this pairing if anything materialises re eurgbp etc... Meantime, sub 30day adr thrusty type bullish Dly candle y/day here (3rd bullish bodied dly candle in a row on gmt+2 broker timings.) Asian session very slim - 27 pips, as London breaks north of the asian range. Current 1hr is below.

Between current dly hi and the zone leading to 4017 some fibs and Dly R1, and Dly R2.
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Trader with an Edge.
  • #583,185
  • Mar 11, 2021 1:17am Mar 11, 2021 1:17am
Quoting phd893
{quote} {image}
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  • #583,186
  • Mar 11, 2021 1:27am Mar 11, 2021 1:27am
... price @ current dly hi almost @ 38.2% of the total 4242-3778 fall, (3955.) 4hr below.
Attached Image
Trader with an Edge.
  • #583,187
  • Mar 11, 2021 1:31am Mar 11, 2021 1:31am
Quoting Moty
Lucky i got out This drop should had.cost me 35 $ It could be a potential buy , touch on the band {image}
,
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yes yes yes
  • #583,188
  • Mar 11, 2021 1:36am Mar 11, 2021 1:36am
... 4hr bearish hidden div present probably good so long as 4017 holds - ie price stays below, but not really a dly downtrend to enter after a pullback although could be start of one? .. As described above - a bit thin on pot (potential) res/sbr factors between here and that zone to 4017 which on 1hr starts @ circa 3998 - Dly R2, lower on 4hr. It is a prev 1hr/4hr/dly swing hi zone =prev res=pot res.
Trader with an Edge.
  • #583,189
  • Mar 11, 2021 1:47am Mar 11, 2021 1:47am
Tp 1.39700
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yes yes yes
  • #583,190
  • Mar 11, 2021 1:49am Mar 11, 2021 1:49am
Quoting Headland
... 4hr bearish hidden div present probably good so long as 4017 holds - ie price stays below, but not really a dly downtrend to enter after a pullback although could be start of one? .. As described above - a bit thin on pot (potential) res/sbr factors between here and that zone to 4017 which on 1hr starts @ circa 3998 - Dly R2, lower on 4hr. It is a prev 1hr/4hr/dly swing hi zone =prev res=pot res.
I see it- are you using MACD divergence?

I used to like this tool but when cable went on that bullish run up to 1.42 it was basically useless. Still trying to decide if it has use, like anything in this you probably have to use it in combination with other things, be aware of its limitations etc

On GU this morning i'm following a wedge/ending diagonal on dxy indicating either the 15m channel top 1.3970 or the supply overhead around 1.3990-1.4030 might be the top before back down. If the dollar wedge holds then some pullback here then back up.
  • #583,191
  • Mar 11, 2021 1:49am Mar 11, 2021 1:49am
expect a drop to 3900 when london opens, and then 4000 for NY
Intraday only.
  • #583,192
  • Mar 11, 2021 1:50am Mar 11, 2021 1:50am
Quoting helioss
{quote} POtential AB-CD Pattern with TP .395/.396 {image}
ABCD completed
  • #583,193
  • Mar 11, 2021 1:50am Mar 11, 2021 1:50am
I will sell gu at 1.40173
  • #583,194
  • Mar 11, 2021 1:53am Mar 11, 2021 1:53am
Quoting mysterio
{quote} I see it- are you using MACD divergence? I used to like this tool but when cable went on that bullish run up to 1.42 it was basically useless. Still trying to decide if it has use, like anything in this you probably have to use it in combination with other things, be aware of its limitations etc On GU this morning i'm following a wedge/ending diagonal on dxy indicating either the 15m channel top 1.3970 or the supply overhead around 1.3990-1.4030 might be the top before back down. If the dollar wedge holds then some pullback here then back...
No, I used to on fairly short settings but changed to 2 x proprietary custom built osc's years ago...Yeh all tools have their limitations and as you will know any oscillator for divergence purposes depends on the settings you employ of course - the shorter the settings the more potentially false signals you'll get in a trending market. Always good to seek a combination of technical factors - without over analysing/complicating it. G/L.
Trader with an Edge.
  • #583,195
  • Mar 11, 2021 1:54am Mar 11, 2021 1:54am
Quoting Moty
Tp 1.39700 {image}
yes yes yes, smart move, this is the way it should be done

  • #583,196
  • Mar 11, 2021 2:00am Mar 11, 2021 2:00am
I am the master of turning 200 $ into 1000
But in the other hand, i am the master of turning 1000 $ into nothing
So i need to keep withdrawing before that
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yes yes yes
  • #583,197
  • Mar 11, 2021 2:08am Mar 11, 2021 2:08am
Quoting Moty
I am the master of turning 200 $ into 1000 But in the other hand, i am the master of turning 1000 $ into nothing So i need to keep withdrawing before that {image}
your account tells something about leveraging
  • #583,198
  • Mar 11, 2021 2:26am Mar 11, 2021 2:26am
Great to see cable up there along with eurusd and audusd and dxy dumped as i wrote yesterday.


Good job all those that were long
Follow The Markets Structure - Patience and Discipline
  • #583,199
  • Mar 11, 2021 2:31am Mar 11, 2021 2:31am
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  • #583,200
  • Mar 11, 2021 2:32am Mar 11, 2021 2:32am
Very weak dollar this morning. Noticed treasuries are being snapped up, yields falling off a cliff currently. Just dropped below 150bps. GU is resisting the pressure though so when dollar pulls back it looks like GU might drop.
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