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Cable Update (GBPUSD)

  • #592,441
  • Apr 30, 2021 12:27pm Apr 30, 2021 12:27pm
Quoting coyoteuglyxxx
{quote} I’ve been banging on about this short move on GBPUSD since Monday pm this week. My timing is terrible obviously, but never the less it’s a fact - LH and LL on the weekly. I believe that means only one thing- bearish bias for the pair. I do not expect to see 1.40 any time soon… just IMO
The only reason we will not see 1.4000 is if May has very limited up move. Yearly has already given a bearish signal to 1.34 area but can't happen in a straight line... My projection for May is between 1.40 to 1.34.
Data + Stat + Risk/Emotions Management
  • #592,442
  • Apr 30, 2021 12:30pm Apr 30, 2021 12:30pm
Quoting mysterio
{quote} Thought you were joining me in planet scalp rather than swing? I'm back to 20-30 pip targets, fallen victim to too many dream targets recently. Exception is when we get to strong daily S&D levels
Good point! I still can’t avoid turning 20-30 pip profit into 10-15 pip loss. I have tight stops as well, but this happens all the time tbh.
Did you place your stop loss order? Why not?!? Story of my life...
  • #592,443
  • Apr 30, 2021 12:44pm Apr 30, 2021 12:44pm
Quoting mysterio
We just tagged a strong daily demand zone, here down to 1.3720 Can just be a month end rebalancing thing & profit taking, strong dollar demand but treasury yields actually down on the day Anyone looking for buys or am I thoroughly on my own (next week not tonight) {image}
I'm with you, long near 3750 to target 4010 next week
  • #592,444
  • Apr 30, 2021 12:47pm Apr 30, 2021 12:47pm
Quoting makati
{quote} I'm with you, long near 3750 to target 4010 next week
Lets do this

I'll wait to see if we get a momentum shift on the 1h chart. Zone of interest is 1.3716-3757
  • #592,445
  • Apr 30, 2021 12:48pm Apr 30, 2021 12:48pm
A quick note before doing some work.
GBPUSD approaching some support
USD approaching some resistance
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 20 KB
Click to Enlarge Name: GBPUSDMonthly.png Size: 22 KB
Click to Enlarge Name: USDOLLARDaily.png Size: 25 KB
Compulsions can be hard to resist
  • #592,446
  • Apr 30, 2021 12:58pm Apr 30, 2021 12:58pm
Quoting mysterio
{quote} Thought you were joining me in planet scalp rather than swing? I'm back to 20-30 pip targets, fallen victim to too many dream targets recently. Exception is when we get to strong daily S&D levels
you know I was and then get suckered into a long term trade old dog new tricks lol
Insane in the Brain..
  • #592,447
  • Apr 30, 2021 1:00pm Apr 30, 2021 1:00pm
This is the easiest Buy on Sterling i saw in sometime ... target of 1.385 is soooooo reachabllllllllllllllllllllllllle
  • #592,448
  • Apr 30, 2021 1:04pm Apr 30, 2021 1:04pm
Quoting Georginson
{quote} The only reason we will not see 1.4000 is if May has very limited up move. Yearly has already given a bearish signal to 1.34 area but can't happen in a straight line... My projection for May is between 1.40 to 1.34.
You may laugh at this but I called a top this week in one of my previous posts, which was not a bad call at the time, looking from this perspective, after the event, i.e. now. I'm talking about this Thursday's top, which is there to stay IMO
Here it is… post Nr 590330 from last Tue 20.Apr:
''Going back 10 years ago on the weekly, there was a top during w/c 25.April.2011. Ten years cycle is a significant time period and if history repeats as per Gann, we might see a GBP USD top by Thursday but not before Wednesday this week (I guess around 1.4050/75) . If this is the case, 1.36 comes next then 1.33…… Just my 10 cents.''
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd.jpg Size: 152 KB
Did you place your stop loss order? Why not?!? Story of my life...
  • #592,449
  • Apr 30, 2021 1:10pm Apr 30, 2021 1:10pm
Quoting OnlineAddict
GU looks like an easy trade...if you are not short already from 1.40, then anything above 3900 is a good short...set the target to 3700-50 and go on vacation to ignore the zig-zag.
Quoting OnlineAddict
FED might take this up again, just to discourage bears and then a big dump should come. I hope it goes back above 3900 before or during FED, would be a nice confirmation of a drop.
Everything worked out nicely. Continuation next week. Waiting for a correction for new shorts...
Everyone can see the chart, but only a few can actually read it.
  • #592,450
  • Apr 30, 2021 1:17pm Apr 30, 2021 1:17pm
Well, this was the exact same thing that happened with the last FOMC meeting, wasn't it? Big pump up for liquidity then down. I was saying on the Euro thread, FOMC manipulation needs to clear the high made on the 26th before the real down move from 1.2150. Did I trade it? Of course not
  • #592,451
  • Apr 30, 2021 1:23pm Apr 30, 2021 1:23pm
Quoting Tekin
{quote} anyway today will be kind of bloody {image}
Pound made good job i quit usd cad at be
  • #592,452
  • Apr 30, 2021 1:35pm Apr 30, 2021 1:35pm
Quoting OnlineAddict
{quote} {quote} Everything worked out nicely. Continuation next week. Waiting for a correction for new shorts...
Correction to what area?
Data + Stat + Risk/Emotions Management
  • #592,453
  • Apr 30, 2021 1:38pm Apr 30, 2021 1:38pm
Quoting Georginson
{quote} Correction to what area?
No idea...3850-3900? We will see...but a drop towards 3600 is inevitable, so the question is where to short, not where to long.
Everyone can see the chart, but only a few can actually read it.
  • #592,454
  • Apr 30, 2021 1:44pm Apr 30, 2021 1:44pm
Quoting OnlineAddict
{quote} No idea...3850-3900? We will see...but a drop towards 3600 is inevitable, so the question is where to short, not where to long.
I think 1.3860 is more realistic, considering we are entering a new month. The candle should have an upper wick of around 70 - 100 pips even if the fall is inevitable.
Data + Stat + Risk/Emotions Management
  • #592,455
  • Apr 30, 2021 1:44pm Apr 30, 2021 1:44pm
Quoting mysterio
We just tagged a strong daily demand zone, here down to 1.3720 Can just be a month end rebalancing thing & profit taking, strong dollar demand but treasury yields actually down on the day Anyone looking for buys or am I thoroughly on my own (next week not tonight) {image}
I'm about to buy till 1.41. Are you with me. Hope u saw my sell call earlier today from 1.39 to 1.38.
my problem? I chicken out too easily
  • #592,456
  • Apr 30, 2021 1:48pm Apr 30, 2021 1:48pm
Quoting Nd10
{quote} I'm about to buy till 1.41. Are you with me. Hope u saw my sell call earlier today from 1.39 to 1.38. my problem? I chicken out too easily
Missed it! Cause it's a Friday I decided just to take that accumulation scalp buy in the morning then leave it for the afternoon (got my first post lockdown haircut in 4 months).

Yea, I chicken out too easily too-prefer quickie trades. I'm not gonna call out targets several cents away, just read the PA on the day and be aware of the nearby levels. This has always been the most profitable for me.

Not fully sold on either direction for now-lets see what the charts are saying on Monday, but I am interested in buys in the 1.37xx zone
  • #592,457
  • Apr 30, 2021 1:48pm Apr 30, 2021 1:48pm
my 1st targets've hitted (cable&gj )

Attached Image (click to enlarge)
Click to Enlarge Name: 30 04 gg.JPG Size: 17 KB


price was dancing around for more than 5 min..,
Attached Image
dolce vita
  • #592,458
  • Apr 30, 2021 1:56pm Apr 30, 2021 1:56pm
Quoting OnlineAddict
{quote} No idea...3850-3900? We will see...but a drop towards 3600 is inevitable, so the question is where to short, not where to long.
Pretty funny, dxy tagged your level then immediately reversed and tagged mine, then reversed again

Quoting mysterio
{quote} Dxy should hit 90.5 next
Quoting OnlineAddict
{quote} 91.10+ next, I think.
  • #592,459
  • Apr 30, 2021 1:56pm Apr 30, 2021 1:56pm
Quoting Nd10
{quote} I'm about to buy till 1.41. Are you with me. Hope u saw my sell call earlier today from 1.39 to 1.38. my problem? I chicken out too easily
It was a great call! Like many other folks on this thread I was in a buy at 1.39 and did not expect this level to break until 1.40 was reached. Looking for a retrace just below 1.38 area.
  • #592,460
  • Apr 30, 2021 1:58pm Apr 30, 2021 1:58pm
Quoting BadBunny
{quote} USD Data just came good beside it has been going down the whole month and today is the last day in the month for a correction, EURUSD, AUDUSD and GBPUSD as far as I know they hit their monthly resistance, currently trading on AUDUSD since yesterday it showed weakness. so I guess that, What do I know anyway I'm only a starter.
"...What do I know anyway I'm only a starter?" You know quite a lot!
Well done for the input - a very nice information!
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