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Cable Update (GBPUSD)

  • #585,901
  • Mar 24, 2021 6:16am Mar 24, 2021 6:16am
Quoting Benton
{quote} I am new to this forum and have difficulty inserting charts. In my Metatrader 4, the UK index future has bounced off low. USA 500 IDX,JPN IDX all bounce off low. All those indices are rising. DXY is off top now.
very easy
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yes yes yes
  • #585,902
  • Mar 24, 2021 6:21am Mar 24, 2021 6:21am
I want to take a break off this thread for few months but will drop some trade views with no obligation to follow.

I expect price to touch 1.4300 by June/July before final uninterrupted fall to 1.28 area by November/December.

In the medium term 1.3400 is imminent which looks likely around May.

Trade with utmost caution.
Data + Stat + Risk/Emotions Management
  • #585,903
  • Mar 24, 2021 6:21am Mar 24, 2021 6:21am
Quoting Waveskierrob
{quote} Show me evidence that the equity market is recovering and show me H+S on DXY timeframe then we can look at why GU could continue to fall ps and why you think that the equity market and H+S on the DXY would have any impact on the GU
GU fell because DXY rose.
DXY rose because market sentiment turned bad due to covid concern, possible US tax hike and trade war with China. That is why equity market fell yesterday.
Now equity market seems bouncing back, so DXY won't rise any more. DXY doesn't create new high.
  • #585,904
  • Mar 24, 2021 6:23am Mar 24, 2021 6:23am
Took profit , now gone short at 13711 S/L at 13735 will move to b/e as it drops below 137
Insane in the Brain..
  • #585,905
  • Mar 24, 2021 6:24am Mar 24, 2021 6:24am
Attached Image (click to enlarge)
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yes yes yes
  • #585,906
  • Mar 24, 2021 6:24am Mar 24, 2021 6:24am
Sideways atm imo. Check H4 tf.

KP

Quoting MoneyZilla
{quote} The other way around also works, I think? She is going nowhere... I mean outside the ~1.37 to ~1.40 range, my bet goes.
Do your homework, follow the footprints of smart money
  • #585,907
  • Mar 24, 2021 6:33am Mar 24, 2021 6:33am
buy
I bought a little position to see how it goes..,

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dolce vita
  • #585,908
  • Mar 24, 2021 6:37am Mar 24, 2021 6:37am
Quoting babayaga
buy I bought a little position to see how it goes.., {image}
If half a lot is a little position then what is a large position?
Risk Management is of utmost importance!
  • #585,909
  • Mar 24, 2021 6:37am Mar 24, 2021 6:37am
5min below...the bullish hidden div mentioned earlier kicked in even though there wasn't much of a 30min/1hr uptrend to enter after the pullback, so don't know whether it will result in a new hi? ie it didn't set up in the optimum 'trend' (uptrend in this case) conditions on next higher t/f.
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Trader with an Edge.
  • #585,910
  • Mar 24, 2021 6:37am Mar 24, 2021 6:37am
Quoting Waveskierrob
{quote} Show me evidence that the equity market is recovering and show me H+S on DXY timeframe then we can look at why GU could continue to fall ps and why you think that the equity market and H+S on the DXY would have any impact on the GU
UK equity future index has bounced off low and rising. DXY will lack the driving force to go higher! So I believe that the GU will rise.
Of course I could be wrong!
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  • #585,911
  • Mar 24, 2021 6:42am Mar 24, 2021 6:42am
Quoting Benton
{quote} GU fell because DXY rose. DXY rose because market sentiment turned bad due to covid concern, possible US tax hike and trade war with China. That is why equity market fell yesterday. Now equity market seems bouncing back, so DXY won't rise any more. DXY doesn't create new high.
Thanks for reply, just be careful covid, tax hike and trade war been going on for ages now, so probably not the cause of yesterdays drop also dont rely on DXY and cable doing opposite been plenty of days where they both rise and both fall at the same time
  • #585,912
  • Mar 24, 2021 6:42am Mar 24, 2021 6:42am
Quoting babayaga
{quote} all my respect (to say the true, I didn't expect such a range during these days) when I opened my chart today.., yes I saw this, she went to 1.4851
thanks mate..
I just see GJ yesterday just pass my trendline here..
Based on my indi rules Daily chart, if just pass trendline it's mean just follow the trend.
I think GU also will find 1.363 for today.
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  • #585,913
  • Mar 24, 2021 6:43am Mar 24, 2021 6:43am
Price action has made a first attempt to break down the 1.36340 horizontal support area but was repelled by bulls. We may see a second and stronger attempt by bears after the current northward retracement.

Stay safe, trade safe.

KP
Do your homework, follow the footprints of smart money
  • #585,914
  • Mar 24, 2021 6:43am Mar 24, 2021 6:43am
Back

Where is my cuties all today
  • #585,915
  • Mar 24, 2021 6:46am Mar 24, 2021 6:46am
Gu yet to break 200 sma on 5m
  • #585,916
  • Mar 24, 2021 6:47am Mar 24, 2021 6:47am
Quoting RCtrader
{quote} If half a lot is a little position then what is a large position?
don't you see it's MICRO

I started this year "from scratch"



thank you
dolce vita
  • #585,917
  • Mar 24, 2021 6:53am Mar 24, 2021 6:53am
Quoting Headland
{quote} Currently the sellers don't agree who sold the pullback - a great technical set-up...it was pretty hi-probability that they would re-emerge, but whether we will see a new dly lo is anyone's guess.
We are gambling!
I just placed a bet in other option platform: Tomorrow at 3:00 AM ET. If GU goes above 1.3760, I would win $82. If not, I would lose $18.
  • #585,918
  • Mar 24, 2021 6:54am Mar 24, 2021 6:54am
Tomorrow is a key day for GBP. It seems to me that markets have somewhat priced in the possibility of EU blocking the export of the AZ vaccine. If this does not happen, GBP should go back towards 1.4.
  • #585,919
  • Mar 24, 2021 6:56am Mar 24, 2021 6:56am
tight range
1.3700-1.3710

let's see where she will go first
dolce vita
  • #585,920
  • Mar 24, 2021 6:58am Mar 24, 2021 6:58am
Quoting babayaga
tight range 1.3700-1.3710 let's see where she will go first
there is some red ticket data coming up that should provide a better sense of direction
Insane in the Brain..
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