Cable Update (GBPUSD) | Page 29564 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #591,261
  • Apr 24, 2021 4:14am Apr 24, 2021 4:14am
Quoting ChiForex
Went to relax yesterday when price was at 1.3860s, to check it today and see it made 1.3890 again before market close, well if expected that, could had set a pending sell order there for free money MMs insisted to keep pushing the pair higher back to my said higher weekly resistance/support(switching) 1.3880s talked about before than closing it weak at lower weekly one 1.3850s, alongside EU forcefully pushed to the long dream target 1.21 Still I see the weekly close non convincing to be bullish, close is even below 1.3880s at 1.3876 and below...
The move was driven by USD selling, not gbp strength (opposite as Monday)I am bullish on gbp looking at cot and correlation with other gbp pair. 2h bullish divergence can be seen on gbp/aud and gbp/chf and bearish on EUR/gbp. Maybe we can have some strengthening next week.
Medium term I am looking at the touch of the yearly high as currently has been formed only during Asian session, so it must be corrected in some way by European and USA session.
Later I ll post my cot chart updated.
Twitter: Rummer_grapes
  • #591,262
  • Apr 24, 2021 4:30am Apr 24, 2021 4:30am
As a newbie I often read traders' posts/comments on this forum about Dollar index and I can boldly testify how significant it has been in my trades. However, it got me wondering if there was a Pounds index and behold there is.

Now I ask, please can anyone help connect the dots between these two indexes Dollar and Pounds.

A look at their last performance it was observed that both currency index share the same candle stick action i.e 1H ended as a BUY while Dly, Wkly and Mnthly ended as a SELL. The only difference is the 4H, which has a BUY (GBP) and a SELL (USD).

IMHO I see a transition from Bear to Bull (no in depth analysis to back it for the now)

Thanks for the input.
  • #591,263
  • Apr 24, 2021 4:33am Apr 24, 2021 4:33am
Quoting Bacco
{quote} The move was driven by USD selling, not gbp strength (opposite as Monday)I am bullish on gbp looking at cot and correlation with other gbp pair. 2h bullish divergence can be seen on gbp/aud and gbp/chf and bearish on EUR/gbp. Maybe we can have some strengthening next week. Medium term I am looking at the touch of the yearly high as currently has been formed only during Asian session, so it must be corrected in some way by European and USA session. Later I ll post my cot chart updated.
Just told another dude on EU thread that COT reports mean nothing useful to be traded accordingly.
Just a short living indicator from many others. Or else any newbie or who know nothing about forex would just wait for it and open positions at whatever price and make money.
The truth is only found on charts, in PA combined with basic indicators, anything else is just speculation or gambling 50/50 probability, better flip your coin
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #591,264
  • Apr 24, 2021 4:56am Apr 24, 2021 4:56am
Quoting ChiForex
{quote} Just told another dude on EU thread that COT reports mean nothing useful to be traded accordingly. Just a short living indicator from many others. Or else any newbie or who know nothing about forex would just wait for it and open positions at whatever price and make money. The truth is only found on charts, in PA combined with basic indicators, anything else is just speculation or gambling 50/50 probability, better flip your coin
Well, it depends how you look at it. Intraday is useless. But very useful to understand what participant are doing.

I look it in two ways: position when reach the extremes ( they have to be closed at some point) and if the market is switching from long to short (or viceversa) or if the move is only a profit taking.

Image n1 tot long: what do we see? Speculators are heavy loaded of longs

image n2 tot short: have a look of the arrows n1,2,3. With every drop we had an increase of short position. It didnt happen with arrow 4 and 5, so this makes me think that they are not very interested in shorting the market but only to take profit of ther longs.

Image n3 tot position: at every peak we had a change in sentiment, from long to short, now is not happening (it doesnt mean it wont)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: tot long 1.jpg Size: 1.3 MB
Click to Enlarge Name: tot short 1.jpg Size: 1.7 MB
Click to Enlarge Name: tot position 1.jpg Size: 1.4 MB
Twitter: Rummer_grapes
  • #591,265
  • Edited Apr 25, 2021 7:38am Apr 24, 2021 7:49am | Edited Apr 25, 2021 7:38am
Quoting kris89
{quote} 1.37700 last bus stop.
I'm watching this spot to go long too

Would make a nice return to daily demand/TL retest

Or, it can fail to break the last low then go straight up, watching for both scenarios

So-two possibilities next week for me

1) Down to 1.3770 then up to 1.4050 (minimum). Obviously prefer this as I can get in at a discount
2) More or less straight up to 1.41

Then, a correction on the ABCD completion and then a higher high

I'm also going to be very careful to wait for the opportunities to present themselves rather than go hunting for them, whenever I consciously make this shift I make way more.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 89 KB
Click to Enlarge Name: GU2.jpg Size: 77 KB
  • #591,266
  • Apr 24, 2021 9:40am Apr 24, 2021 9:40am
Ok My Take on Gbpusd for Monday and on. Will update on Monday

Attached Image (click to enlarge)
Click to Enlarge Name: 6c120691ab7505d306f0349d7d6d4947.png Size: 9 KB

Attached Image (click to enlarge)
Click to Enlarge Name: c2ff561daac2376efb844822a2191f15.png Size: 5 KB

What I See is that the Price may have formed a base to launch to the Higher Side

Ok See You
  • #591,267
  • Apr 24, 2021 10:02am Apr 24, 2021 10:02am
Quoting ChiForex
{quote} Just told another dude on EU thread that COT reports mean nothing useful to be traded accordingly. Just a short living indicator from many others. Or else any newbie or who know nothing about forex would just wait for it and open positions at whatever price and make money. The truth is only found on charts, in PA combined with basic indicators, anything else is just speculation or gambling 50/50 probability, better flip your coin

You Nigerian?
  • #591,268
  • Apr 24, 2021 10:17am Apr 24, 2021 10:17am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20210424-161712.png Size: 979 KB
Twitter: Rummer_grapes
  • #591,269
  • Edited 7:48am Apr 25, 2021 7:05am | Edited 7:48am
Attached Image (click to enlarge)
Click to Enlarge Name: a03cbf2044a23a1191efc622b286acdc.png Size: 87 KB
I believe we are going to see a rally high to create a double top on the weekly chart.
On the daily it appears that the pivot highs have been met with more aggression from sellers and they will probably take the price lower eventually; the buyers do not seem so interested at each pivot low plus there is very strong resistance on the monthly chart.
Anything could happen though, just another perspective.

note: the last green line should be red...
  • #591,270
  • Apr 25, 2021 8:14am Apr 25, 2021 8:14am
May be wrong as i am fairly new to trading, but i see GBP/USD as going up as it has had a break then retest bear flag trend line on daily tf, any input if i am wrong is welcome, also if i am right, been lurking here for a while, and have to admire traders input on here, like sang real, moty, mysterio and jaybag, big up to you guys, pipbasket.
find a way to make money in your sleep or you work until you die
  • #591,271
  • Apr 25, 2021 9:27am Apr 25, 2021 9:27am
Hope this will help
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 55 KB
  • #591,272
  • Apr 25, 2021 10:12am Apr 25, 2021 10:12am
Thank you ihlas
find a way to make money in your sleep or you work until you die
  • #591,273
  • Apr 25, 2021 10:47am Apr 25, 2021 10:47am
Quoting pipbasket
Thank you ihlas

My pleasure
  • #591,274
  • Apr 25, 2021 11:00am Apr 25, 2021 11:00am
I would like to share my analysis, but havent quite worked out how to upload them, { i am over 50 btw ] lol
find a way to make money in your sleep or you work until you die
  • #591,275
  • Apr 25, 2021 11:20am Apr 25, 2021 11:20am
Quoting Ihlas
Hope this will help {image}
Really
  • #591,276
  • Edited 1:36pm Apr 25, 2021 11:43am | Edited 1:36pm
Here we go, finally got how to upload it with many thanks to my stepson.
Attached Image (click to enlarge)
Click to Enlarge Name: d9fc2095f80bee6d48851f26d62e1c32.png Size: 23 KB
find a way to make money in your sleep or you work until you die
  • #591,277
  • Apr 25, 2021 11:46am Apr 25, 2021 11:46am
Quoting Wavegarrick
{quote} Hi Guys, I hope that bears can gain some traction now. I have nice confirmation sell signals. Currently retesting my daily pivot. I am in with some more shorts. We shall see. Cheers. {image}
One of the few major pairs that I see the potential for a major reversal. It will not come without stutters and stop hunts,

Trade safe Guys
Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1109.png Size: 67 KB
Trade to trade another day
  • #591,278
  • Apr 25, 2021 12:55pm Apr 25, 2021 12:55pm
Market will answer all curiosities, it is really unclear now. But from my checks, (M5, H1, H4) it should be bearish for time being then bull. Or exact opposite.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 23 KB
Try the simple and make it for you ~
  • #591,279
  • Apr 25, 2021 1:41pm Apr 25, 2021 1:41pm
im still in bearish bias
tryin so hard to see bull but i dont know,, i see bear ..
Trade with prediction = witch with her visions lol
  • #591,280
  • Apr 25, 2021 1:55pm Apr 25, 2021 1:55pm
Or is this our direction down to demand? Different tf tell a different story, generally not a good idea, but i think its a good idea to lower my sl below demand zone
Attached Image (click to enlarge)
Click to Enlarge Name: 5d9760f6efdb2e16903f1654bf71c5ca.png Size: 20 KB
find a way to make money in your sleep or you work until you die
894 traders viewing now, 3 are registered:
Simoleon
,
ndtrunghieu
,
lzuda20