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Cable Update (GBPUSD)

  • #588,941
  • Apr 11, 2021 8:04am Apr 11, 2021 8:04am
I would not be surprised if there was a bull gap when the market opened.
because the correction would be very timely already. in the worst case, I look forward to Monday-Tuesday.
until then I build the long situation.
  • #588,942
  • Apr 11, 2021 10:06am Apr 11, 2021 10:06am
The weekend gap is quite big today in favour of the longs
Insane in the Brain..
  • #588,943
  • Apr 11, 2021 10:12am Apr 11, 2021 10:12am
Quoting BeeTogether
The weekend gap is quite big today in favour of the longs
these prices mean nothing, the opening price of the market matters.
  • #588,944
  • Edited 2:14pm Apr 11, 2021 12:33pm | Edited 2:14pm
Quoting Behavist
{quote}The return of mortgage rates to June's levels last year, together with house prices growth, contributed to a slowdown quantity of mortgage applications for purchases and refinancing. In this way, the Fed influences the banks so that they give out fewer mortgage loans. If you look at the inflation structure, you will see that the growth is driven by higher energy prices and higher import prices (mainly from China). In such a situation, inflation is growing due to external factors, not due to consumer activity growth within the country....
Hello
The Fed never changed any rate .
Theres a calculation after the fed rate ,they do not outright control the lending at all, they influence .
Right now FED want lower rates ,Market wants higher, theres a battle in hand.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #588,945
  • Apr 11, 2021 12:56pm Apr 11, 2021 12:56pm
Quoting TrTT
{quote} Most of your explanations goes on the side of my head but I would like to understand this equation Internet + Demo = Expert - Attitude- Time=Bone Zunks HAHA
The calculation is wrong because even in 2007 I never did demo
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #588,946
  • Edited 3:59pm Apr 11, 2021 2:56pm | Edited 3:59pm
Looking at DXY to pop this week : https://www.ft.com/content/f296fe3c-...f-1a677f450ff6 US tens starting to look bullish (yields) again

UK 10 y Gilt yields ran into a confluence level around 89bps and are getting some retrace after a strong run up, so this will add to the bear pressure on GU.

DXY finished a 0.382 retrace and into weekly demand, also a nice gap on the daily higher up. So I believe EUR and Cable will fall next week maybe after some initial bull movement. Longer term I think we can get to 1.32-33. Will get some charts up later.
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  • #588,947
  • Edited 3:41pm Apr 11, 2021 3:24pm | Edited 3:41pm
If price doesnt pursue to 1.36 this week and instead pulls straight back up and persists above 1.3730s, a lot of position and swing traders will buy this potential pullback around here and especially around 1.38, all the way up to 1.3850s level and wait for 1.39 to clearly break to add more to their winning positions.

Bulls lets be patient to get in at the right moment, or be careful because this could very well NOT be a correction, but a reversal.

Bears lets be careful because if this is a correction, its about to end.

Lets continue to be BearBulls !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #588,948
  • Apr 11, 2021 3:31pm Apr 11, 2021 3:31pm
Here's a technical perspective on the GBPUSD. Please note that I am a swing trader. On the GBPUSD daily time frame, on Friday, price action surged southwards to the minor horizontal support around 1.36640, printing a hammer-like candlestick in the area. This was a change in bearish potency, a change which began on Thursday with a doji-like print after there had been two relatively big bearish candlesticks printed on Tuesday and Wednesday. Very much likely we may see a bullish pullback to an area of value, say the 1.38380/1.38820 area (magenta), before any southward turnaround.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #588,949
  • Edited 7:17pm Apr 11, 2021 4:12pm | Edited 7:17pm
Quoting NotAtrader
{quote} Stick to your view mate. It’s the right one. The ones who expect FED to raise rates anytime soon will get burned nastily. Look back at the FED’s model and the way they present their intentions to the public anyone can see only transparency and nothing but transparency and efforts to make themselves understood so that the market get as less as possible surprised. Not only FED does not suggest rate raise. FED says explicitly that they will not raise rates anytime soon. The economy is on a recovery path but far from getting overheated. I will...
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #588,950
  • Edited 7:10pm Apr 11, 2021 5:18pm | Edited 7:10pm
The bond professional in the video describes how $ gets trapped on QE in the banking system
Inserted Video


I read Gold Q as evening star through major.
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What I'm saying from my research is QE traps the $ for sure up to date.
But FED's recent answer =under the umbrella of this crisis is to monetise debt & helicopter it in.(a desperate move, against the federal reserve act for a good reason)
This is the answer for those that believe you can continue on this path indefinitely without inflation.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #588,951
  • Apr 11, 2021 6:00pm Apr 11, 2021 6:00pm
I reckon we could be heading to 38 early this week, with some bears waiting around there
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Compulsions can be hard to resist
  • #588,952
  • Apr 11, 2021 6:03pm Apr 11, 2021 6:03pm
with all these Andrews' Pitchforks
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dolce vita
  • #588,953
  • Apr 11, 2021 6:07pm Apr 11, 2021 6:07pm
what I am looking at?..
if any of these Wolfe Wave patterns "comes true"

let's see
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dolce vita
  • #588,954
  • Apr 11, 2021 7:36pm Apr 11, 2021 7:36pm
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yes yes yes
  • #588,955
  • Apr 11, 2021 8:55pm Apr 11, 2021 8:55pm
Out from long
Gu is bearish
I Will look for short set at lo
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yes yes yes
  • #588,956
  • Apr 11, 2021 9:00pm Apr 11, 2021 9:00pm
Quoting mtako
If price doesnt pursue to 1.36 this week and instead pulls straight back up and persists above 1.3730s, a lot of position and swing traders will buy this potential pullback around here and especially around 1.38, all the way up to 1.3850s level and wait for 1.39 to clearly break to add more to their winning positions. Bulls lets be patient to get in at the right moment, or be careful because this could very well NOT be a correction, but a reversal. Bears lets be careful because if this is a correction, its about to end. Lets continue to be BearBulls...

Patience is key.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #588,957
  • Apr 11, 2021 9:02pm Apr 11, 2021 9:02pm
Quoting Moty
{image}{image}
Moty...
Maybe Buy at 1.3686 (Middle Daily S1) or at 1.3666 (Daily S1)
TP at Daily R1 1.3746

ServerUang
  • #588,958
  • Apr 11, 2021 9:11pm Apr 11, 2021 9:11pm
Quoting ServerUang
{quote} Moty... Maybe Buy at 1.3686 (Middle Daily S1) or at 1.3666 (Daily S1) TP at Daily R1 1.3746 ServerUang
I agree.
  • #588,959
  • Apr 11, 2021 9:15pm Apr 11, 2021 9:15pm
Quoting kris89
{image}my POV on next week
still with this plan - my view side on side
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #588,960
  • Apr 11, 2021 9:17pm Apr 11, 2021 9:17pm
Quoting trumps
I reckon we could be heading to 38 early this week, with some bears waiting around there {image}
Of course, it could also drop straight to 3611 and beyond
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Compulsions can be hard to resist
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