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Cable Update (GBPUSD)

  • #591,081
  • Apr 23, 2021 2:23am Apr 23, 2021 2:23am
Quoting Ihlas
Sell again from 1.38850 New target is in the pocket 1.37700 Boom!!! Have a good day guys. That's all for today.
i hope so too, but somehow the price action feels like it wants to break 1.3900
  • #591,082
  • Apr 23, 2021 2:24am Apr 23, 2021 2:24am
Quoting helioss
Reversal Zone is calling {image}
Closed +105pips Tnx Fibonacci
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 33 KB
  • #591,083
  • Apr 23, 2021 2:29am Apr 23, 2021 2:29am
Quoting mysterio
The zone is holding, could be the beginning of the final bull leg of the W, ie higher high I have completely missed the mark all week with HTF direction though, or at least, not been able to execute on it properly {image}
W has already formed. You know i have been stating this since. What i think wanna happen is H and S. Stil check that daily chart. However, i believe that the right shoulder has not started yet. I'm hoping though cos it would be a shame for me to miss it again as i messed up with my bull call of 1.4. I expect a buy around 1.378 area but this stuff is tough
  • #591,084
  • Apr 23, 2021 2:29am Apr 23, 2021 2:29am
Below .382 new short opportunities.....again yesterdat PUT options were bougth more than CALL ones
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 49 KB
  • #591,085
  • Apr 23, 2021 2:30am Apr 23, 2021 2:30am
Inserted Video

No need to worry
GU will drop only down down down
Even if there is correction
  • #591,086
  • Apr 23, 2021 2:32am Apr 23, 2021 2:32am
Quoting Nd10
{quote} W has already formed. You know i have been stating this since. What i think wanna happen is H and S. Stil check that daily chart. However, i believe that the right shoulder has not started yet. I'm hoping though cos it would be a shame for me to miss it again as i messed up with my bull call of 1.4. I expect a buy around 1.378 area but this stuff is tough
Yea, the completion of it is a retrace to neckline/fib level and then a higher high, at least that's what i've observed. Usually quite reliable, works on all TFs

Yea it's one thing to spot these things and form a view its another thing entirely to actually execute on it successfully

DXY also reacting strongly off the flip zone I pointed out and confluence with upper TL/0.618 fib retrace of last bear leg, so it looks very bearish on the dollar to me
  • #591,087
  • Apr 23, 2021 2:39am Apr 23, 2021 2:39am
Morning Gang,

GU bears had a field day yesterday and congrats to them .. Will check how things go to know if to clean my tables off and buy KOTA ..

Something new and probably out of TOPIC, I stacked a few SHORTS on USTechCash yesterday and was fortunate to catch the drop. Thing is, I am not familiar with this instrument and would like to ask anyone trading it for a while to suggest a swing target/SUPPORT (That's if they share the same view with me)

Suggestions would be highly appreciated.

Take Care Gang and be KIND.
TGIF
  • #591,088
  • Apr 23, 2021 2:44am Apr 23, 2021 2:44am
Quoting Ihlas
https://www.youtube.com/watch?v=oUbpGmR1-QM No need to worry GU will drop only down down down Even if there is correction
Does not look like that´s very likely anymore, given the strong price action upwards, it seems to want to break 1.3900 for sure now.
  • #591,089
  • Apr 23, 2021 2:50am Apr 23, 2021 2:50am
Quoting geektrader
{quote} Does not look like that´s very likely anymore, given the strong price action upwards, it seems to want to break 1.3900 for sure now.
The down move must have a correction which is usually between 40 - 70 pips, example is the 1.3887 to 1.3949 correction before fall resumption, if this correction from 1.3826 exceeds 1.3919 then we will assume bulls have taken over yet again, otherwise it is a bearish resumption to 1.3778 area.
Data + Stat + Risk/Emotions Management
  • #591,090
  • Apr 23, 2021 2:51am Apr 23, 2021 2:51am
Quoting geektrader
{quote} Does not look like that´s very likely anymore, given the strong price action upwards, it seems to want to break 1.3900 for sure now.

Patience Patience Patience
GU doesn't have a break like Mercedes-Benz or BMW
  • #591,091
  • Apr 23, 2021 2:54am Apr 23, 2021 2:54am
Shpet squeeze, don't fall for that
The crooks are trying to shake you
The drop is coming
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CamScanner 04-23-2021 10.49.jpg Size: 129 KB
Click to Enlarge Name: CamScanner 04-23-2021 10.17.jpg Size: 140 KB
yes yes yes
  • #591,092
  • Apr 23, 2021 3:04am Apr 23, 2021 3:04am
Looking at this current H1 close on GU, I think it could take us well above 1.42 (It will take time but this MONTHLY candle may attempt it). The general idea for GU for me is Bullish.

SS
  • #591,093
  • Apr 23, 2021 3:05am Apr 23, 2021 3:05am
Quoting Moty
Shpet squeeze, don't fall for that The crooks are trying to shake you The drop is coming {image} {image}
Careful buddy. DXY is setting up very bearish. That 91.3-91.4 zone has good confluence and has resisted strongly twice. The daily upper TL is also holding. Could be wrong.
  • #591,094
  • Apr 23, 2021 3:07am Apr 23, 2021 3:07am
I don´t like the price action for a bearish trade either. Currently, we are seeing higher lows on M1 all the time, which shows it has the intention to breakout higher.
  • #591,095
  • Apr 23, 2021 3:12am Apr 23, 2021 3:12am
A clean break above 139 might help with trend line.. judging by how yesterday’s drop went after a fair bit of teasing we could see similar but this time in bulls favour
Insane in the Brain..
  • #591,096
  • Apr 23, 2021 3:15am Apr 23, 2021 3:15am
Wait and see if GU could stay above 1.3890? If it stands above 1.3890, it is more likely a bull, otherwise it is a bear! especially it if falls below 1.3875.
  • #591,097
  • Apr 23, 2021 3:20am Apr 23, 2021 3:20am
Looking better now that it just dipped 1.3875. Might be ready for the fall now, I am in!
  • #591,098
  • Apr 23, 2021 3:24am Apr 23, 2021 3:24am
Quoting geektrader
Looking better now that it just dipped 1.3875. Might be ready for the fall now, I am in!

Let's go then
  • #591,099
  • Apr 23, 2021 3:30am Apr 23, 2021 3:30am
Still a bit skeptical, it could also be reloading for the break towards 1.3900.
  • #591,100
  • Apr 23, 2021 3:33am Apr 23, 2021 3:33am
Nice, glad I am short now ;-)
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