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Cable Update (GBPUSD)

  • #583,661
  • Mar 12, 2021 12:24pm Mar 12, 2021 12:24pm
Quoting Coreg2004
{quote} Kaysole, thanks....when GU reaches 120%dailyATR(14) level the bounce can be from 30 to 60 pips during the NY session...I am crazy about the stats...
Keen observation Coreg2004...thanks for sharing.
  • #583,662
  • Mar 12, 2021 12:27pm Mar 12, 2021 12:27pm
Quoting Marbas
{quote} powah, what a trade! very cool This picture can be printed in books about trading easily GBP/CAD is very volatile pair with much noise. Such as GBPAUD and GBPCHF They often give huge moves, but keep in mind-it retraces often and deep. This pair is good for scalping and EA-scalpers.

Seldom trade this pair.

Agreed with you, when this pair went berserks, no SNR level will be able to hold her.

I traded her only with a triple star SNR level set up. Sometimes, only two trade per week.

Thanks Marbas.

Admire your Fundamental knowledge on trading.
  • #583,663
  • Mar 12, 2021 12:33pm Mar 12, 2021 12:33pm
Quoting Sang.Real
{quote} Is a Camel Derby.... Ha ha ha. I'm done for the week. Just going thro my list of to do item for tomorrow race. Camel already asleep coz I want them to have a good rest tonight. Thanks for guide and views on my trading execution. Hope someday I will become like you, a better trader and smart trader. Good nite all. P/s What Do You Call a Green Camel In a Forest?
Camelflage
Don't trade what you think. Just what you see!!!
  • #583,664
  • Edited Mar 13, 2021 5:16am Mar 12, 2021 12:35pm | Edited Mar 13, 2021 5:16am
Quoting Nd10
{quote} Why you say so
I just think the rising treasury yields/US inflation expectations story is going to gain momentum. Yields just broke the last high and are on a roll. More economic data out next week and the stimulus is hitting which is only going to add fuel to the fire. US economy is about to get pretty hot. Meanwhile in the UK we're still in this nightmare lockdown and the economy and unemployment is getting worse. We dont have the same inflationary pressures the economy is going to stay in the doldrums for a while. With that said, Gilt yields are on the rise too but didn't break the last high.

From a technical perspective the GBPUSD weekly supply is still in control and we just hit the top of a daily descending channel yesterday, so the bottom of that is the next step I think, around 1.37. Daily could be forming a bit of an M pattern. Daily chart is showing a lower high (didn't break the 4th of March high) and weekly has an inside bar. Dollar looks as if it is about to start another bullish cycle, the move down was just a 0.382 retrace/correction. I just think the dollar is set to go way higher unless the Fed start intervening more heavily

Just my opinion, I'm not a position trader, strictly intraday, could easily be wrong. If we view the channel as a flag then it's more likely to break out of the top of it eventually.

We also have FOMC next week so who knows what they're going to say. There is the old saying 'don't fight the Fed'. Usually whenever bond traders have tried to push the market down they get steamrollered by the Fed. We just dunno how the dollar is going to react next week so any speculation on the direction of GU is just that, speculation. I'm not loading up positions based on this view I'm just waiting to see what happens and ride along with it. The only way you'll be a successful trader if you completely let go of your ego and can very quickly accept that you're wrong and be able to change your view quickly if the market changes.
  • #583,665
  • Mar 12, 2021 12:37pm Mar 12, 2021 12:37pm
Quoting Theoak
{quote} Camelflage
Attached Image
  • #583,666
  • Mar 12, 2021 12:38pm Mar 12, 2021 12:38pm
Quoting mysterio
{quote} I just think the rising treasury yields/US inflation expectations story is going to gain momentum. Yields just broke the last high and are on a roll. More economic data out next week and the stimulus is hitting which is only going to add fuel to the fire. US economy is about to get pretty hot. Meanwhile in the UK we're still in this nightmare lockdown and the economy and unemployment is getting worse. With that said, Gilt yields are on the rise too but didn't break the last high. From a technical perspective the GBPUSD weekly supply is still...
This year the UK economy will explode!!!!!! You wait and see!!!
Don't trade what you think. Just what you see!!!
  • #583,667
  • Mar 12, 2021 12:42pm Mar 12, 2021 12:42pm
Quoting mysterio
{quote} I just think the rising treasury yields/US inflation expectations story is going to gain momentum. Yields just broke the last high and are on a roll. More economic data out next week and the stimulus is hitting which is only going to add fuel to the fire. US economy is about to get pretty hot. Meanwhile in the UK we're still in this nightmare lockdown and the economy and unemployment is getting worse. We dont have the same inflationary pressures the economy is going to stay in the doldrums for a while. With that said, Gilt yields are on...

Your analysis are solid bruv
  • #583,668
  • Mar 12, 2021 12:47pm Mar 12, 2021 12:47pm
Quoting Theoak
{quote} This year the UK economy will explode!!!!!! You wait and see!!!
In a bad way?

I just think the lockdown pain hasn't been fully felt here, furlough is still on so we're literally being held up by that. Once that's taken away it's going to be a total disaster here.

They're also following an elimination strategy for Covid here, it seems as if restrictions will be on all year to some extent, it's not gonna help
  • #583,669
  • Mar 12, 2021 12:48pm Mar 12, 2021 12:48pm
Be in the making
Attached Image (click to enlarge)
Click to Enlarge Name: CamScanner 03-12-2021 20.48_1.jpg Size: 133 KB
yes yes yes
  • #583,670
  • Mar 12, 2021 1:00pm Mar 12, 2021 1:00pm
Quoting Moty
Be in the making {image}
Or maybe it was bears trap after all
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CamScanner 03-12-2021 20.57_1.jpg Size: 130 KB
Click to Enlarge Name: CamScanner 03-12-2021 20.59_1.jpg Size: 124 KB
yes yes yes
  • #583,671
  • Mar 12, 2021 1:12pm Mar 12, 2021 1:12pm
Quoting mysterio
{quote} In a bad way? I just think the lockdown pain hasn't been fully felt here, furlough is still on so we're literally being held up by that. Once that's taken away it's going to be a total disaster here. They're also following an elimination strategy for Covid here, it seems as if restrictions will be on all year to some extent, it's not gonna help
30% - Already jabbed up.
Come summer - infection rate down to nothing... Sun seems to burn it away.
UK people will want to make up for lost time...

Just think in the summer in a beer garden, drinking in the sun... hhhheeeeemmmmm. At that moment have a drink on the Theoak!!!
Attached Image (click to enlarge)
Click to Enlarge Name: lamb-lion-york-beer-garden-pint.jpg Size: 158 KB
Don't trade what you think. Just what you see!!!
  • #583,672
  • Mar 12, 2021 1:15pm Mar 12, 2021 1:15pm
Quoting Theoak
{quote} 30% - Already jabbed up. Come summer - infection rate down to nothing... Sun seems to burn it away. UK people will want to make up for lost time... Just think in the summer in a beer garden, drinking in the sun... hhhheeeeemmmmm. At that moment have a drink on the Theoak!!! {image}
That first pint is gonna be sweet nectar from the gods
  • #583,673
  • Mar 12, 2021 1:24pm Mar 12, 2021 1:24pm
Quoting Theoak
{quote} 30% - Already jabbed up. Come summer - infection rate down to nothing... Sun seems to burn it away. UK people will want to make up for lost time... Just think in the summer in a beer garden, drinking in the sun... hhhheeeeemmmmm. At that moment have a drink on the Theoak!!! {image}
cant bloody wait for the beer gardens! I’m hoping goals opens it’s bar after footy this month
Insane in the Brain..
  • #583,674
  • Mar 12, 2021 1:27pm Mar 12, 2021 1:27pm
Quoting Theoak
{quote} 30% - Already jabbed up. Come summer - infection rate down to nothing... Sun seems to burn it away. {image}
Here is a funny fact..
Today came up concerns that the AstraZeneca's doses result in blood clots. This vaccines are not truly tested, UK people are like laboratory rabbits now..
Now imagine that people can start dying from vaccines? What a horror will come to markets?
  • #583,675
  • Mar 12, 2021 1:29pm Mar 12, 2021 1:29pm
I was blocked on the eur only site. Not sure why? People’s egos get flustered I suppose.
  • #583,676
  • Mar 12, 2021 1:34pm Mar 12, 2021 1:34pm
Quoting Marbas
{quote} Here is a funny fact.. Today came up concerns that the AstraZeneca's doses result in blood clots. This vaccines are not truly tested, UK people are like laboratory rabbits now.. Now imagine that people can start dying from vaccines? What a horror will come to markets?
Well I'm going to become a rabbit when offered... This is not living.....we can't live like this.
Attached Image
Don't trade what you think. Just what you see!!!
  • #583,677
  • Mar 12, 2021 1:38pm Mar 12, 2021 1:38pm
Was yesterday’s low 13918?
Insane in the Brain..
  • #583,678
  • Mar 12, 2021 1:44pm Mar 12, 2021 1:44pm
I have one interesting opinion..
Todays dollar strength can be a classic "buy the rumour-sell the fact" reaction on Bidens stimulus plan. It was priced in all the time, and after Biden signs it, dollar soars. Plus it soars on Friday, which can be confluenced with profit taking.
Picture on all USD-pairs is muted now, all of them retraced alot. When bears are in control, D1 candle should close very close to the lows. But now we have a long wick and the body of todays candle can close even higher than yesterdays open. And we did not have even engulfing in such case. Will wait for a daily close.
I think if we will have no engulfing, GU will raise from Monday. I dont have fundamental reason for this, but candles just hint about this in moment of writing.
  • #583,679
  • Mar 12, 2021 1:45pm Mar 12, 2021 1:45pm
Quoting Houtbay
I was blocked on the eur only site. Not sure why? People’s egos get flustered I suppose.
Did you break the rules on the front page?
  • #583,680
  • Mar 12, 2021 1:48pm Mar 12, 2021 1:48pm
Quoting mysterio
Shorting again. DXY reached the 0.618 fib retrace/demand area. GU in 1h supply/0.5 retrace and testing the 4h channel Momentum shift was a 1m TL break I know it's too late to expect anything but a 50 pip lightning bolt drop would be great, thx
Gonna close this shortly, I don't want to hold over the weekend, just a handful of pips in the green
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