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Cable Update (GBPUSD)

  • #584,221
  • Mar 16, 2021 12:01pm Mar 16, 2021 12:01pm
Quoting mysterio
{quote} It's going down this is just a last gasp for air
seems so as it has been trying 139 for a while.
Insane in the Brain..
  • #584,222
  • Mar 16, 2021 12:07pm Mar 16, 2021 12:07pm
Quoting BeeTogether
{quote} from what I can see if GU goes over 13930 we could be in totally different territory
over 1.39028 we go to 1.4000
game over , hourly candle broke the high of the bearish tail of last candle
up up and away gu go
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 30 KB
yes yes yes
  • #584,223
  • Mar 16, 2021 12:08pm Mar 16, 2021 12:08pm
Quoting Wavegarrick
Anyway started adding shorts just below 1.3900, Crumbs, trading is never easy Is it? tight stops cheers
Is it still wise to still have SHORTS with the kind of upward momentum?
  • #584,224
  • Mar 16, 2021 12:09pm Mar 16, 2021 12:09pm
How GU is looking to crash Southward https://media.giphy.com/media/3o6wrD...sATK/giphy.gif
  • #584,225
  • Mar 16, 2021 12:11pm Mar 16, 2021 12:11pm
Quoting Nd10
{quote} Is it still wise to still have SHORTS with the kind of upward momentum?
Yes!
  • #584,226
  • Mar 16, 2021 12:12pm Mar 16, 2021 12:12pm
Quoting gatenio
{quote} yes!
scalp scalp scalp

lol
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #584,227
  • Mar 16, 2021 12:13pm Mar 16, 2021 12:13pm
I do not see cable going down specially after that 4H bullish engulfing.
Why are most of us here having an opinion going down? is there something missing?
My observation may be wrong but intent correct. Stay calm!
  • #584,228
  • Mar 16, 2021 12:14pm Mar 16, 2021 12:14pm
why not?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 119 KB
If you don't know how to earn money, don't loose it.
  • #584,229
  • Mar 16, 2021 12:14pm Mar 16, 2021 12:14pm
damn.. it broke my R... i hav no idea right now... maybe moty is right,, it will rise at least 3930 (my 2nd R)...
im done for to day... ciao all
Trade with prediction = witch with her visions lol
  • #584,230
  • Mar 16, 2021 12:20pm Mar 16, 2021 12:20pm
Quoting parshal
I do not see cable going down specially after that 4H bullish engulfing. Why are most of us here having an opinion going down? is there something missing?
These are just preambles. I'd be really drunk to place North Orders. 1.3200 is out there for the taking. that is what is missing
  • #584,231
  • Mar 16, 2021 12:24pm Mar 16, 2021 12:24pm
Quoting ruben247
{quote} These are just preambles. I'd be really drunk to place North Orders. 1.3200 is out there for the taking. that is what is missing
Why do you say 1.32 fella? Seems extreme

Not saying it won't happen, respect for people who can call such far away numbers, I definitely can't do it

Quoting parshal
I do not see cable going down specially after that 4H bullish engulfing. Why are most of us here having an opinion going down? is there something missing?
Daily downtrend LLs LHs I think for most, this move up seems overextended if this is gonna hold, bullish pressure on the dollar currently too
  • #584,232
  • Mar 16, 2021 12:30pm Mar 16, 2021 12:30pm
Quoting ruben247
{quote} These are just preambles. I'd be really drunk to place North Orders. 1.3200 is out there for the taking. that is what is missing
I may respect your sentiments here more than your analysis...but even if it has to come true, what time duration are you analyzing?..days, hours or months?
It would be nice to see your point of analysis as a way to learn more.
My observation may be wrong but intent correct. Stay calm!
  • #584,233
  • Mar 16, 2021 12:32pm Mar 16, 2021 12:32pm
Quoting Georginson
{quote} Now jumped in ... Couldn't wait for exact 1.3900. now sold at 1.3894, target 1.3850.
Bulls have taken the initiative for now, this entry will be manually closed at 1.3890. 75% chance the bulls will take it up to 1.3930/1.3960 tomorrow. This is intraday play.
Data + Stat + Risk/Emotions Management
  • #584,234
  • Mar 16, 2021 12:39pm Mar 16, 2021 12:39pm
Quoting Hutch
{quote} I like to trade using 20 pips trailing stops sometime it works sometimes it doesn't.
Well I havent ever used 20 pips Trailing stops . I Dont like the idea of something sniffing Profits from the rear when its moving and cut it out in between.

But 20 pips trailing will need some testing by an EA to see how % Target Hitting is achieved and whether its in Net Profit.
  • #584,235
  • Mar 16, 2021 12:42pm Mar 16, 2021 12:42pm
Quoting TrTT
{quote} Well I havent ever used 20 pips Trailing stops . I Dont like the idea of something sniffing Profits from the rear when its moving and cut it out in between. But 20 pips trailing will need some testing by an EA to see how % Target Hitting is achieved and whether its in Net Profit.
It makes sense only after the stop loss is moved by at least 10 pips distance before enabling 20 pips trailing stop..otherwise it just eats away your earnings.
Hopefully an EA can do this with a bit of coding.
My observation may be wrong but intent correct. Stay calm!
  • #584,236
  • Mar 16, 2021 12:46pm Mar 16, 2021 12:46pm
Quoting mysterio
{quote} Why do you say 1.32 fella? Seems extreme Not saying it won't happen, respect for people who can call such far away numbers, I definitely can't do it {quote} Daily downtrend LLs LHs I think for most, this move up seems overextended if this is gonna hold, bullish pressure on the dollar currently too
The logic makes sense for a downtrend with LLs and LHs.
On a different view there is a high chance of a W pattern with double tops.
My observation may be wrong but intent correct. Stay calm!
  • #584,237
  • Mar 16, 2021 12:51pm Mar 16, 2021 12:51pm
Quoting parshal
{quote} It makes sense only after the stop loss is moved by at least 10 pips distance before enabling 20 pips trailing stop..otherwise it just eats away your earnings. Hopefully an EA can do this with a bit of coding.
Ok I See

Well EA would Test it out whether the idea of 20 pips Trailing is a good one. Maybe it is
  • #584,238
  • Mar 16, 2021 12:51pm Mar 16, 2021 12:51pm
Quoting mysterio
{quote} Why do you say 1.32 fella? Seems extreme Not saying it won't happen, respect for people who can call such far away numbers, I definitely can't do it {quote} Daily downtrend LLs LHs I think for most, this move up seems overextended if this is gonna hold, bullish pressure on the dollar currently too
Not even going to take credit for a target I did not come up with. I am fortunate to chart with Jaybag once in a while out of his busy schedule and he shared the 1.3200 with me. it does look extreme and I plan on squeezing profits on every round number till he's projected target.
  • #584,239
  • Edited 1:12pm Mar 16, 2021 12:52pm | Edited 1:12pm
Quoting parshal
{quote} The logic makes sense for a downtrend with LLs and LHs. On a different view there is a high chance of a W pattern with double tops.
Yeah I guess it's always a balance of probabilities. At some point you have to just pick a side and find a sensible entry or you'd never trade

I approach it by taking a position at a place where there's a high chance of a reaction so I can get my stop to BE and let the market say if i'm right or not

And right now I can see a wedge developing aiming at a supply area/RN so I know if that breaks out I can put my stop above the TL because it will act as resistance. There's also divergences so that tells me this move is overextended

I'm also thinking DXY will pop very soon because Euro has tested its lows/0.382 retrace and should drop now, so maybe this will pull down GU

We also failed to break the last high so for me a break down is still on the cards. Yea a deeper correction is definitely possible so if that's the case I'll take the BE and wait.

Also lots of fundie reasons for a stronger dollar right now, FOMC tomorrow and its possible JP will fail to calm the bond vigilantes and send the dollar higher (or the opposite who knows). On the other side we actually had lowering GBP yields today so this should pull through to cable?

Quoting ruben247
{quote} As I mentioned above, I did not analyze the said target. I won;t be able to show the workings. My mentor said it may take within 2 months to reach target.
I can see it in 2 months for sure. A lot of analysts expect the Treasury yield story to rumble on for a while. It seems to me that the market wants to camp around the daily TL to hedge its bets ahead of FOMC which should decide the direction. If that breaks then 1.37 is surely guaranteed, and if that breaks I also see 1.32 as the next key area
Attached Image (click to enlarge)
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  • #584,240
  • Mar 16, 2021 12:54pm Mar 16, 2021 12:54pm
Quoting parshal
{quote} I may respect your sentiments here more than your analysis...but even if it has to come true, what time duration are you analyzing?..days, hours or months? It would be nice to see your point of analysis as a way to learn more.
As I mentioned above, I did not analyze the said target. I won;t be able to show the workings. My mentor said it may take within 2 months to reach target.
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