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Cable Update (GBPUSD)

  • #585,221
  • Mar 21, 2021 3:00pm Mar 21, 2021 3:00pm
Quoting trumps
{quote} Why only 2 point? Q candles highlighted on monthly chart. I think part of the Fed plan is to inflate away the debt to make it more manageable. {image}
Wouldn’t that send the USD down?
Insane in the Brain..
  • #585,222
  • Mar 21, 2021 3:02pm Mar 21, 2021 3:02pm
Quoting BeeTogether
{quote} Wouldn’t that send the USD down?
Yes
Compulsions can be hard to resist
  • #585,223
  • Mar 21, 2021 3:12pm Mar 21, 2021 3:12pm
Quoting trumps
{quote} Why only 2 point? Q candles highlighted on monthly chart. I think part of the Fed plan is to inflate away the debt to make it more manageable. {image}
its 2 point on the Quarterly
I don't think thats a line, but it did react on the monthly.Its a trick to think test.
see the Q close
piercing line is high probability candles on a high probability TF {or dark cloud off major EU}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #585,224
  • Mar 21, 2021 3:26pm Mar 21, 2021 3:26pm
pre market mini gap down
Attached Image (click to enlarge)
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yes yes yes
  • #585,225
  • Mar 21, 2021 3:38pm Mar 21, 2021 3:38pm
Quoting Moty
it will range between 1.38 and 1.40 this week {image} {image} {image}
I see 1.3910 - 1.3700 this week.
Data + Stat + Risk/Emotions Management
  • #585,226
  • Mar 21, 2021 3:48pm Mar 21, 2021 3:48pm
Quoting trumps
{quote} I think part of the Fed plan is to inflate away the debt to make it more manageable. {image}
I agree thats a good plan ,but I'm struggling with how they can afford it.
Can you see how they can let it run sustainably hot + keep interest rates down + avoid the debt going through the roof ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #585,227
  • Edited 4:00pm Mar 21, 2021 3:50pm | Edited 4:00pm
Quoting Georginson
{quote} I see 1.3910 - 1.3700 this week.
Thinking very similar

Looking to get short if price can rise up to the circled area

Curious if Bailey will start talking about yield curve control now with 10y Gilt yields approaching 100bps, this could cause a huge drop on GU. Both pound and dollar have been strengthening recently causing this ranging

Big gap down on market open, down at 1.3837 currently
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  • #585,228
  • Mar 21, 2021 3:58pm Mar 21, 2021 3:58pm
Quoting mysterio
{quote} Thinking very similar Looking to get short if price can rise up to the circled area {image} {image}
Seeing what y'all are seeing too. Well I expect it to be a dramatic week
You can't backtest emotions.
  • #585,229
  • Mar 21, 2021 4:31pm Mar 21, 2021 4:31pm
Quoting Bones
{quote} I agree thats a good plan ,but I'm struggling with how they can afford it. Can you see how they can let it run sustainably hot + keep interest rates down + avoid the debt going through the roof ?
Not really, but it seems to be their strategy nonetheless.
They are in a corner.
Fed has indicated they are happy to let inflation run up, I suspect because they have to.
Compulsions can be hard to resist
  • #585,230
  • Edited 7:08pm Mar 21, 2021 4:41pm | Edited 7:08pm
Quoting trumps
{quote} Not really, but it seems to be their strategy nonetheless. They are in a corner. Fed has indicated they are happy to let inflation run up, I suspect because they have to.
I agree with you Trumps ,this is why you will definitely get inflation .The only way you don't is if our cousins wake up with a Japanese attitude.
This is unlikely because politicians are busying saying this will be the greatest recovery on record.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #585,231
  • Mar 21, 2021 4:47pm Mar 21, 2021 4:47pm
Below 1.3825 the slide is to 1.3770, below there is around 1.3710 Resistance 1.3880 to 1.3910 today
GU needs a big push to go up anytime soon as chart shows..favoring down to grab some power to possibly go up again.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #585,232
  • Edited Mar 22, 2021 2:21am Mar 21, 2021 4:57pm | Edited Mar 22, 2021 2:21am
Here's my take on the GBPUSD, from the technical perspective of a swing trader. After the shooting star printed on February 24, 2021, the technical impulse on the GBPUSD daily time frame is in favour of bears. There was a retracement to the 50 Fib area on March 11, and a retest of the area was attempted last week Wednesday, but this was met with a bearish rejection on Thursday and a bearish continuation occurred on Friday. Further bearish drive will likely complete an ‘M’ pattern around 1.37680 (sandybrown) and may later complete an extended ‘M’ pattern at the 1.36240 major horizontal support area (green).

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #585,233
  • Mar 21, 2021 5:26pm Mar 21, 2021 5:26pm
good start will good end of week
  • #585,234
  • Mar 21, 2021 6:12pm Mar 21, 2021 6:12pm
took long to gap and 1.39000
Attached Image (click to enlarge)
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yes yes yes
  • #585,235
  • Mar 21, 2021 7:38pm Mar 21, 2021 7:38pm
Quoting Moty
took long to gap and 1.39000 {image}
probability go 1.3770 before go to gap?
  • #585,236
  • Mar 21, 2021 8:20pm Mar 21, 2021 8:20pm
closed "friday's positions" with profit

see you later
dolce vita
  • #585,237
  • Mar 21, 2021 8:28pm Mar 21, 2021 8:28pm
Quoting mhhbmnasir
{quote} probability go 1.3770 before go to gap?
my feeling is going up before going down! Yields dictates the market. Yields is dropping at this moment, dxy will follow down very soon and GU bounces up!
Of course I could be wrong.
  • #585,238
  • Mar 21, 2021 8:45pm Mar 21, 2021 8:45pm
Hi everyone ............ is there such a thing as donchian channel based pivots or levels? thanks..............
  • #585,239
  • Mar 21, 2021 8:47pm Mar 21, 2021 8:47pm
Quoting M.Fadly
{image}
wait another setup
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Like me, cuts losses quickly. But has more patience and lets his winn
  • #585,240
  • Mar 21, 2021 8:58pm Mar 21, 2021 8:58pm
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Like me, cuts losses quickly. But has more patience and lets his winn
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