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Cable Update (GBPUSD)

  • #584,981
  • Mar 19, 2021 5:46am Mar 19, 2021 5:46am
Quoting mysterio
{quote} 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.
exactly..you described it well
My observation may be wrong but intent correct. Stay calm!
  • #584,982
  • Mar 19, 2021 5:53am Mar 19, 2021 5:53am
I agree.

For me the biggest question is that what pair gives first hint on the potentially big USD intraday move? Is it EU, AU or GU? Or there is no such pair at all? Clearly USDX has a noise and lag due to cocktail of 6 majors.

Quoting mysterio
{quote} 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...
  • #584,983
  • Mar 19, 2021 5:55am Mar 19, 2021 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,...
My observation is that, most of time, not all times, GU goes in opposite direction with DXY!
  • #584,984
  • Mar 19, 2021 5:57am Mar 19, 2021 5:57am
Quoting Theoak
{quote} Never trade without one!! Not sure where it is going to go now!!! Open another can and kick back....!!!
It seems to me that we might get another bounce (30-40 pips) off of 1.39 again, if it ever reaches there of course.
  • #584,985
  • Edited 6:20am Mar 19, 2021 6:04am | Edited 6:20am
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break down
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yes yes yes
  • #584,986
  • Mar 19, 2021 6:16am Mar 19, 2021 6:16am
Quoting Benton
{quote} Yields goes up right now, dxy will go up too!
yes
  • #584,987
  • Mar 19, 2021 6:19am Mar 19, 2021 6:19am
... downside follow thru on last but one big 1hr bear thrust candle off the current dly hi...straight into that prev 1hr sw lo zone =prev supp=potential supp, after a steepest 1hr asc t/line breach. (It was a classic 5/15min 'M' pattern at the top...pullback and follow thru.) This is the current near-term 1hr+ downside obstacle to price.

1hr below.
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Trader with an Edge.
  • #584,988
  • Mar 19, 2021 6:24am Mar 19, 2021 6:24am
Quoting parshal
{quote} if you see the price of DXY for last 30 mins, it's almost poised and then look GU..what can you correlate?
cable doing a beautiful job keeping all options open, equal chance here of big up big down, let's grab everyone's stop ... in fact let's keep it on this knife edge for the week's remaining 11 hours so only options make money, i mentioned 7 seven weeks ago in a chart how long we will anchor at 13904
twitter: @gettoefl
  • #584,989
  • Mar 19, 2021 6:27am Mar 19, 2021 6:27am
Quoting Kaysole
{quote} TP hit Sell [email protected] [email protected] [email protected]
Sell position [email protected]

Buy [email protected]
[email protected]
[email protected]
  • #584,990
  • Mar 19, 2021 6:34am Mar 19, 2021 6:34am
Bought the weekly pivot/5m demand

Locked at BE
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  • #584,991
  • Mar 19, 2021 6:39am Mar 19, 2021 6:39am
Quoting Kaysole
{quote} Sell position [email protected] Buy [email protected] [email protected] [email protected]
Bloody good call there mate! Well done
Insane in the Brain..
  • #584,992
  • Mar 19, 2021 6:43am Mar 19, 2021 6:43am
Quoting mysterio
Bought the weekly pivot/5m demand Locked at BE {image}
nice...
Trade with prediction = witch with her visions lol
  • #584,993
  • Mar 19, 2021 6:46am Mar 19, 2021 6:46am
Quoting BeeTogether
{quote} Bloody good call there mate! Well done
Thanks for the comment BeeTogether, but unfortunately (for me) my buy limit wasn't activated.
  • #584,994
  • Mar 19, 2021 6:51am Mar 19, 2021 6:51am
... currently a 1hr range within a 4hr range within a daily range - you gotta love rangy conditions - on the lower t/f's - plenty of hi-prob trading opportunities, although 1hr+ trend traders will be pulling their hair out lol!

1hr is below...great 1min,3min and 5min bullish regular div set-ups there and even the 15min gave a pinbar with effectively bullish hidden div, although it was an entry into a 1hr range after a pullback not a 1hr uptrend, which is always preferable. Anyways, those 'tweezer' bottoms/tops can be strong supp/res/sbr/rbs can't they? Price ran straight into the 5min/15min prev sw hi zone at the pullback hi off that last lo.

1hr below.
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Trader with an Edge.
  • #584,995
  • Mar 19, 2021 6:55am Mar 19, 2021 6:55am
Quoting Kaysole
{quote} Thanks for the comment BeeTogether, but unfortunately (for me) my buy limit wasn't activated.
unlucky mate.. my new strategy is to have activation points slightly above or below (by 1-5 pips depending on trend force) to activate..
Insane in the Brain..
  • #584,996
  • Mar 19, 2021 6:57am Mar 19, 2021 6:57am
Quoting W0lfram
{quote} What about others? S1 is ~ 1.388?{image}
just got up from nap.

You made me to laugh.

Intraday only.
  • #584,997
  • Mar 19, 2021 6:58am Mar 19, 2021 6:58am
Want to sell, but cant trust usd.
Tones of supports
prefer to scalp up everytime till 1.385/1.38 break

this is my trading plan.. watch trendlines, very clear.
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  • #584,998
  • Mar 19, 2021 6:59am Mar 19, 2021 6:59am
i waiting for the the break sown all day , and when that happend , it spikes up
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yes yes yes
  • #584,999
  • Mar 19, 2021 7:00am Mar 19, 2021 7:00am
Quoting BeeTogether
{quote} unlucky mate.. my new strategy is to have activation points slightly above or below (by 1-5 pips depending on trend force) to activate..
Yeah, I was quite certain that price would make it to 1.3900 maybe even a bit lower.

*Edit: My limit finally got activated...I just hope it doesn't activate my SL too.
  • #585,000
  • Mar 19, 2021 7:05am Mar 19, 2021 7:05am
Quoting Moty
i waiting for the the break sown all day , and when that happend , it spikes up {image}
As Headland pointed out, today has been nerve-racking for trend trading.
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