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Cable Update (GBPUSD)

  • #584,961
  • Mar 19, 2021 5:05am Mar 19, 2021 5:05am
I am lazy trader IF I arouse I am the killer
  • #584,962
  • Mar 19, 2021 5:06am Mar 19, 2021 5:06am
Inserted Video
Like me, cuts losses quickly. But has more patience and lets his winn
  • #584,963
  • Mar 19, 2021 5:07am Mar 19, 2021 5:07am
Quoting Sang.Real
{quote} GU Trying to catch small fish (scalping) {image}
that blue bar area is my thinking of today’s highs. It could go south after that but the basis of resistance is there in my opinion
Insane in the Brain..
  • #584,964
  • Mar 19, 2021 5:08am Mar 19, 2021 5:08am
Quoting SteadyAsItGo
{image}
i hope no yoyo on friday
  • #584,965
  • Mar 19, 2021 5:09am Mar 19, 2021 5:09am
Quoting parshal
Cable seems to be on the mercy of DXY and DXY on the mercy of 10 year bonds..and 10 years bonds on whose?
forget dixie it is a moving average and it is not traded, price is the king
twitter: @gettoefl
  • #584,966
  • Mar 19, 2021 5:12am Mar 19, 2021 5:12am
Quoting BeeTogether
{quote} that blue bar area is my thinking of today’s highs. It could go south after that but the basis of resistance is there in my opinion
Yeah,

maybe up to Aqua zone.

Will look again , if price reach there.

Let price action tell us what its going to do when it reaches the zone
  • #584,967
  • Mar 19, 2021 5:12am Mar 19, 2021 5:12am
Quoting gettoefl
{quote} forget dixie it is a moving average and it is not traded, price is the king
Really? My theory is the futures are traded and can have an effect on GU via algos, just a theory.

Decision time anyway
Attached Image (click to enlarge)
Click to Enlarge Name: dxy.jpg Size: 91 KB
  • #584,968
  • Mar 19, 2021 5:14am Mar 19, 2021 5:14am
anyway i took profit short on GU
reaccess later
  • #584,969
  • Mar 19, 2021 5:16am Mar 19, 2021 5:16am
Quoting mysterio
{quote} Really? My theory is the futures are traded and can have an effect on GU via algos, just a theory. Decision time anyway {image}
has use for eurusd imo otherwise it leads or lags and you won;t know which so can be fooled ... perhaps longer term it will give a clue
twitter: @gettoefl
  • #584,970
  • Mar 19, 2021 5:17am Mar 19, 2021 5:17am
every day has its candle , engulfing that give indication for what next
the crooks mad a bulls trap like yesterday
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.png Size: 36 KB
yes yes yes
  • #584,971
  • Mar 19, 2021 5:21am Mar 19, 2021 5:21am
Told son my son do not mistake
  • #584,972
  • Mar 19, 2021 5:27am Mar 19, 2021 5:27am
Attached Image (click to enlarge)
Click to Enlarge Name: GU1.png Size: 70 KB
  • #584,973
  • Mar 19, 2021 5:28am Mar 19, 2021 5:28am
Quoting Kaysole
{quote} As long as you play it by beer, you'll be good to go.
Never trade without one!! Not sure where it is going to go now!!! Open another can and kick back....!!!
Don't trade what you think. Just what you see!!!
  • #584,974
  • Mar 19, 2021 5:29am Mar 19, 2021 5:29am
I think Gettoefl has a point because USDX is ultimately a aggregation of how the USD behaves against majors, mostly EUR. And while USD is part of the GU equation, the GBP has also mind of its own. Probably for mid-term e.g. weekly trading USDX can give some clues but when intraday trading GU, perhaps its sometimes better to eliminate distractions and just follow the GU S/R, short term trendlines, mostly 15M candles PA and be aware of the different sessions dynamics e.g. if and when stops are most likely hunted to avoid being get caught.

Just a thought, from real newbie

Quoting mysterio
{quote} Really? My theory is the futures are traded and can have an effect on GU via algos, just a theory. Decision time anyway {image}
  • #584,975
  • Mar 19, 2021 5:31am Mar 19, 2021 5:31am
Inserted Video
  • #584,976
  • Mar 19, 2021 5:34am Mar 19, 2021 5:34am
G/M, steepest 1hr asc t/line and 61.8% 3892-3959 bounce at the current deep pullback lo off that move. 1hr below.

4hr, and now 1hr range continues, but for how long?
Attached Image (click to enlarge)
Click to Enlarge Name: 0e3fb1874514e6cdd3f1238833c8baba.png Size: 67 KB
Trader with an Edge.
  • #584,977
  • Mar 19, 2021 5:36am Mar 19, 2021 5:36am
Quoting Moty
every day has its candle , engulfing that give indication for what next the crooks mad a bulls trap like yesterday {image}
need dxy push up to get gu down now
  • #584,978
  • Mar 19, 2021 5:43am Mar 19, 2021 5:43am
Quoting SteadyAsItGo
{quote} need dxy push up to get gu down now
Yields goes up right now, dxy will go up too!
  • #584,979
  • Mar 19, 2021 5:45am Mar 19, 2021 5:45am
Quoting Ilvez
I think Gettoefl has a point because USDX is ultimately a aggregation of how the USD behaves against majors, mostly EUR. And while USD is part of the GU equation, the GBP has also mind of its own. Probably for mid-term e.g. weekly trading USDX can give some clues but when intraday trading GU, perhaps its sometimes better to eliminate distractions and just follow the GU S/R, short term trendlines, mostly 15M candles PA and be aware of the different sessions dynamics e.g. if and when stops are most likely hunted to avoid being get caught. Just a thought,...
if you see the price of DXY for last 30 mins, it's almost poised and then look GU..what can you correlate?
My observation may be wrong but intent correct. Stay calm!
  • #584,980
  • Edited 5:55am Mar 19, 2021 5:45am | Edited 5:55am
Quoting Ilvez
I think Gettoefl has a point because USDX is ultimately a aggregation of how the USD behaves against majors, mostly EUR. And while USD is part of the GU equation, the GBP has also mind of its own. Probably for mid-term e.g. weekly trading USDX can give some clues but when intraday trading GU, perhaps its sometimes better to eliminate distractions and just follow the GU S/R, short term trendlines, mostly 15M candles PA and be aware of the different sessions dynamics e.g. if and when stops are most likely hunted to avoid being get caught. Just a thought,...
I can see where youre both coming from

I think there are cross correlations still, they both influence one another. Obv not a simple 1:1 inverse correlation. I use dxy as a barometer to where cable is going and I know for certain it helps me get into good trades.

There are hedge fund employees who's full time job it is to figure out these relationships and make trading algos based on them, I think.

Agree there are issues using a derivative index to solely base trading decisions. Like the VIX is another example. But the supply/demand areas 'shadow' over I think

This is all just theory and how it exists in my own head

Just to add- think about stock market indexes. S&P500, FTSE, DAX, DOW etc. People will trade TA on these- yet they are just a derivative of the underlying stocks. But the futures price/ETFs etc all influence the price of the underlying stocks.
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