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Cable Update (GBPUSD)

  • #584,021
  • Mar 16, 2021 4:10am Mar 16, 2021 4:10am
Hi there
Info for those, who is interested in fundamental market drivers:
In 2019, DXY weakened on five of eight FOMC meeting days. In 2020, DXY has weakened on nine of ten decision days. This pattern may have changed this year. The dollar gained at the January meeting. If the FED is unable to shift market expectations away from rising yields at this week’s meeting on Wednesday, then we would expect rates to spike higher and give the dollar further fuel to rise.
Brace yourself, and dont trade against trend
  • #584,022
  • Mar 16, 2021 4:25am Mar 16, 2021 4:25am
Quoting babayaga
1.3804 will I get it? {image}
close manually +20
I' d like to have a break ()
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dolce vita
  • #584,023
  • Mar 16, 2021 4:29am Mar 16, 2021 4:29am
I had enough of this crooky gu
Entered long gold
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yes yes yes
  • #584,024
  • Mar 16, 2021 4:35am Mar 16, 2021 4:35am
Quoting babayaga
last guess: 1.3810th then 1.3910 (WPP) or 1.3930 (DeMark's WPP)

if on the way up she will pass 1.3860th
dolce vita
  • #584,025
  • Mar 16, 2021 5:06am Mar 16, 2021 5:06am
ab=cd is in place, didnt buy it yet, think it should drop more or at least another visit.
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  • #584,026
  • Mar 16, 2021 5:07am Mar 16, 2021 5:07am
Quoting Moty
I had enough of this crooky gu Entered long gold {image}
gold PA is AWFUL! yak, yichsa!
  • #584,027
  • Mar 16, 2021 5:11am Mar 16, 2021 5:11am
Quoting gatenio
{quote} gold pa is awful! Yak, yichsa!
תעקוץ קטנות אחי
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #584,028
  • Mar 16, 2021 5:12am Mar 16, 2021 5:12am
yea bears are good but can you endure the pain up to 13860, am scalping from 13830 til there with impunity
twitter: @gettoefl
  • #584,029
  • Mar 16, 2021 5:13am Mar 16, 2021 5:13am
G/M, downside breach of the 3188-3778 dly asc t/line in the move down (94% of 30day adr so far,) and the current dly lo @ 85.4% of the 3778-4005 move, and probably Wkly S1 for some, (depending on broker timings.) Next Dly+ asc t/line on today's dly candle circa 3750. U.s retail sales later.

1hr below.
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Trader with an Edge.
  • #584,030
  • Mar 16, 2021 5:17am Mar 16, 2021 5:17am
I was too early entering my first position before London. I suspected it will happen like this. I didn't listen myself. Anyway BE. Lost the downtrend. GU laid all cards now. Didn't trigger my buy at the low. So bought it a little bit above.
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  • #584,031
  • Mar 16, 2021 5:24am Mar 16, 2021 5:24am
Dont think bears are finished, I'll sell up at 1.3860-70

Bounce off 4h demand zone/weekly S1/100% fib ext
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  • #584,032
  • Mar 16, 2021 5:25am Mar 16, 2021 5:25am
Quoting ChiForex
Today seems a drop to 1.3800s in the cards, this time taking EU with it, while base above 1.3910 and we're probably back to 1.3940s
Target met..buy order executed Tp 1.3890-00s and sell again, SL base below 1.38
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #584,033
  • Mar 16, 2021 5:30am Mar 16, 2021 5:30am
Quoting mysterio
Dont think bears are finished, I'll sell up at 1.3860-70 Bounce off 4h demand zone/weekly S1/100% fib ext {image}
I think this may turn now with a bit of luck
Don't trade what you think. Just what you see!!!
  • #584,034
  • Mar 16, 2021 5:37am Mar 16, 2021 5:37am
Quoting Theoak
{quote} I think this may turn now with a bit of luck
Gonna wait, Euro is breaking out and dollar is sinking, I think EU will want to go up to high 1.19s so it may limit any further downside for cable this morning

Missed the bounce unfortunately I thought it would touch 1.38

I think that 60-75 zone should be good lets see how the PA is

GBP will want to sink when DXY rises though, there is buying pressure on Gilts

There is a 5m supply zone here so maybe some drop if DXY finds support around here, it's at a TL retesting area
  • #584,035
  • Mar 16, 2021 5:45am Mar 16, 2021 5:45am
sell 1.3840
let's see
dolce vita
  • #584,036
  • Mar 16, 2021 5:48am Mar 16, 2021 5:48am
thinking of selling gold ( I am afraid a little bit)
dolce vita
  • #584,037
  • Mar 16, 2021 5:48am Mar 16, 2021 5:48am
Quoting babayaga
sell 1.3840 let's see
https://www.mql5.com/en/charts/13620...-group-limited
  • #584,038
  • Mar 16, 2021 5:51am Mar 16, 2021 5:51am
... another strong bounce in this down move.....upside potential obstacles overhead. 4hr is below (gmt+3 - broker on daylight saving time now.)

EDIT: 38.2% of today's fall reached.
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Trader with an Edge.
  • #584,039
  • Mar 16, 2021 5:56am Mar 16, 2021 5:56am
Quoting phd893
{quote} https://www.mql5.com/en/charts/13620...-group-limited
very interesting way to draw trendline
  • #584,040
  • Mar 16, 2021 5:57am Mar 16, 2021 5:57am
Quoting mysterio
{quote} Gonna wait, Euro is breaking out and dollar is sinking, I think EU will want to go up to high 1.19s so it may limit any further downside for cable this morning Missed the bounce unfortunately I thought it would touch 1.38 I think that 60-75 zone should be good lets see how the PA is GBP will want to sink when DXY rises though, there is buying pressure on Gilts There is a 5m supply zone here so maybe some drop if DXY finds support around here, it's at a TL retesting area
I thought it would touch 1.38 too. I'm in a 23 pip hole at the moment and will add to the short aiming at 1.38 when I see some short term momentum, but if this keep going up will have to cut a lick wounds. Should be some resistance at 1.3840


Licking wounds!!!!! OUT
Don't trade what you think. Just what you see!!!
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