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Cable Update (GBPUSD)

  • #585,321
  • Mar 22, 2021 7:37am Mar 22, 2021 7:37am
...although we have 1hr bearish hidden div @ the current dly hi (as referred to earlier) - that 1hr pattern is probably a bit too big/long to be a bear flag? Don't know.

1hr below.
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Trader with an Edge.
  • #585,322
  • Mar 22, 2021 7:37am Mar 22, 2021 7:37am
if tank
GU normal PA is to test back 1.3900
if rejected then could tank
  • #585,323
  • Mar 22, 2021 7:43am Mar 22, 2021 7:43am
Quoting lockstockd
{quote} Me too! Entered at 1.38740 once DXY gap was closed.
Good luck to us!. Was watching for that bounce at the end of the gap, too. On the 50pc fib.

I got 3871. On my chart there is a small M pattern with divergence developing within a larger M. As well as the 0.382 retrace level and a confluence of TLs

We have T yields starting to spike in a demand zone too
  • #585,324
  • Mar 22, 2021 7:45am Mar 22, 2021 7:45am
Quoting Kaysole
{quote} I used to follow yields rigorously a few years ago, but it just wasn't worth the hassle in my opinion. I agree that they definitely have an impact on exchange rates, especially in the long term, but as far as intraday movement is concerned, not so much. Again, this is my observation only; some of you might have had extreme success with it. But you are right, it's quite possible that GU could tank. Thanks for the heads up Benton.

I have had the same experience trying to use that and dxy as a leading indicator for gbpusd, many years ago, but wasn't sufficiently robust to call it an edge...But the bond market is very febrile at the moment so it's worth just keeping an eye on sometimes.
Trader with an Edge.
  • #585,325
  • Mar 22, 2021 7:50am Mar 22, 2021 7:50am
the break is here
Powell in 10 minutes
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yes yes yes
  • #585,326
  • Mar 22, 2021 7:53am Mar 22, 2021 7:53am
Quoting klm1011
{quote} ........are there any spin offs of this Donchian channels..................? thanks
You have increased the requirement for posting on EURUSD Club to medium which means I won't be able to post. I hope I didn't cause inconvenience, I enjoyed posting on that thread.
Risk Management is of utmost importance!
  • #585,327
  • Mar 22, 2021 7:53am Mar 22, 2021 7:53am
Quoting klm1011
{quote} ........are there any spin offs of this Donchian channels..................? thanks
You have increased the requirement for posting on EURUSD Club to medium impact which means I won't be able to post. I hope I didn't cause inconvenience, I enjoyed posting on that thread.
Risk Management is of utmost importance!
  • #585,328
  • Mar 22, 2021 7:54am Mar 22, 2021 7:54am
... the prev 1hr sw lo x 2 zone =prev supp=pot supp the current downside potential obstacle to price....Downside breach of steepest 1hr asc t/line now 1hr below.
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Trader with an Edge.
  • #585,329
  • Mar 22, 2021 7:55am Mar 22, 2021 7:55am
Quoting mysterio
{quote} Good luck to us!. Was watching for that bounce at the end of the gap, too. On the 50pc fib. I got 3871. On my chart there is a small M pattern with divergence developing within a larger M. As well as the 0.382 retrace level and a confluence of TLs We have T yields starting to spike in a demand zone too
So far so good! Hopefully we can break 1.38 today, let's see.
  • #585,330
  • Mar 22, 2021 7:56am Mar 22, 2021 7:56am
Quoting Headland
{quote} I have had the same experience trying to use that and dxy as a leading indicator for gbpusd, many years ago, but wasn't sufficiently robust to call it an edge...But the bond market is very febrile at the moment so it's worth just keeping an eye on sometimes.
Yeah, I wasn't able to build a solid strategy around it either. At times, it would lead price, but at others, price would behave contrary to what was expected (even hundreds of pips).

But it is definitely worth keeping an eye on at least.
  • #585,331
  • Mar 22, 2021 7:58am Mar 22, 2021 7:58am
Quoting lockstockd
{quote} So far so good! Hopefully we can break 1.38 today, let's see.
Trying to figure out my TP. Although my ultimate target is around 1.37 I'll probably close this at 1.3811
  • #585,332
  • Mar 22, 2021 8:00am Mar 22, 2021 8:00am
... 1hr bearish close. 4hr bearish engulf close. 4hr below.
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Trader with an Edge.
  • #585,333
  • Mar 22, 2021 8:05am Mar 22, 2021 8:05am
And boom there we are...
Insane in the Brain..
  • #585,334
  • Mar 22, 2021 8:07am Mar 22, 2021 8:07am
Quoting mysterio
{quote} Trying to figure out my TP. Although my ultimate target is around 1.37 I'll probably close this at 1.3811
nearly there mate...
Insane in the Brain..
  • #585,335
  • Mar 22, 2021 8:07am Mar 22, 2021 8:07am
Quoting navk
some time in NY session, the price will hit 3808/3800. whatever is the price now. To me only, ( Not for anybody else )
out from shorts

Intraday only.
  • #585,336
  • Mar 22, 2021 8:10am Mar 22, 2021 8:10am
Quoting BeeTogether
{quote} nearly there mate...
Just took +45, beautiful move
  • #585,337
  • Mar 22, 2021 8:14am Mar 22, 2021 8:14am
Quoting mysterio
{quote} Just took +45, beautiful move
Looking for bounce up?
Insane in the Brain..
  • #585,338
  • Mar 22, 2021 8:14am Mar 22, 2021 8:14am
... price @ the current pullback lo off the current dly hi has entered the prev 1hr/4hr sw lo zone to 3817 which is coexistant with the prev 1hr/4hr/dly sw lo zone to 3809. Below there the prev 4hr/dly lo zone to 3778, the 4hr part of which starts circa 3809. Dly S1 3809, Wkly S1 3781.
Trader with an Edge.
  • #585,339
  • Mar 22, 2021 8:16am Mar 22, 2021 8:16am
Quoting mysterio
{quote} Just took +45, beautiful move
Beautiful move indeed!

Took +48, great start to the week.

Will you be looking for another short set up today?
  • #585,340
  • Mar 22, 2021 8:16am Mar 22, 2021 8:16am
Quoting mysterio
{quote} Just took +45, beautiful move

CONGRATS
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