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Cable Update (GBPUSD)

  • #593,601
  • May 7, 2021 10:41am May 7, 2021 10:41am
Quoting mysterio
{quote} Feeling is close around 1.40. Reach above maybe as high as 1.41 supply/channel top next week. Or at least ABCD completion in mid/high 1.40xx. Get it sufficiently above 1.40 for traders to think it's a bullish breakout. Then bears kick in big league. Anyone got any prediction ?
I think you’re right, volume is not the best tool but whilst the volume is certainly high it is not super high - look at 4th May for example. On a breakout I expect the volume to be very high. However that may be the case if it breaks beyond 1.40 but if it rises higher beyond 1.4 on lower volume it is almost certainly a bull trap.
  • #593,602
  • May 7, 2021 10:41am May 7, 2021 10:41am
Quoting Moty
it will reverse at 1.40000 {image}
1.40057-1.4039
divergences on 1h/4h/d1

not easy to trade it, build short from 1.40057
  • #593,603
  • May 7, 2021 10:43am May 7, 2021 10:43am
Once 1.40060 is off I will be off with the veiled one

Its always preferable to have veiled one for likica
  • #593,604
  • May 7, 2021 10:48am May 7, 2021 10:48am
Quoting BeeTogether
{quote} UJ not going anywhere although that could be something for Monday
I always buy when the market doesn't go anywhere.Always in a day like this one when nobody wants to get long.Target 110 for UJ in 3 days.UC will go up too, is way too imbalanced.I bet on USD strength next week.
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #593,605
  • May 7, 2021 10:49am May 7, 2021 10:49am
Quoting Moty
nailed over 100 $ with 90 pips at eu , with multiple and addon orders along the way now enter on gu to 1.39758 , payment time mf {image} {image}
Congratulations brother, you have the last laugh. I've been following all your post. God bless you more pips.
We love him, because he first loved us.
  • #593,606
  • May 7, 2021 10:50am May 7, 2021 10:50am
1.40006-1.40166 strong res
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 14 KB
yes yes yes
  • #593,607
  • May 7, 2021 10:54am May 7, 2021 10:54am
I think if it has to breakout 1.4006 then it has to retrace to at least 1.39600 and up again.
Otherwise I see a big drop coming soon.
My observation may be wrong but intent correct. Stay calm!
  • #593,608
  • May 7, 2021 10:58am May 7, 2021 10:58am
The price is rising on falling volume, the opposite of what it should be doing to breakout. Trade carefully
Attached Image (click to enlarge)
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  • #593,609
  • May 7, 2021 11:05am May 7, 2021 11:05am
Quoting mysterio
{quote} Feeling is close around 1.40. Reach above maybe as high as 1.41 supply/channel top next week. Or at least ABCD completion in mid/high 1.40xx. Get it sufficiently above 1.40 for traders to think it's a bullish breakout. Then bears kick in big league. Anyone got any prediction ?
There is a strong resistance between 1.4000 - 1.4020, I see this move as a classical bull trap. You may check the way and manner the price closed last week at 1.3812 when the bulls got slaughtered but in preparation for their meal this week. Now the bears will come in aggressively and slam the price to 1.34/1.35 area in days ahead.

Let's see how this unfolds...
Data + Stat + Risk/Emotions Management
  • #593,610
  • May 7, 2021 11:07am May 7, 2021 11:07am
Bad day for USD news. Treasury Sec Yellen speaks give a strength. Selling with SL at 4020
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 15 KB
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #593,611
  • May 7, 2021 11:08am May 7, 2021 11:08am
the retrace is here .
daily high 1.40000
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1.png Size: 36 KB
Click to Enlarge Name: dx.png Size: 29 KB
yes yes yes
  • #593,612
  • May 7, 2021 11:12am May 7, 2021 11:12am
Every smart trader took profit into this acceleration.NFP is good for this and come always AFTER the event ,when banks need to fill their orders in the opposite direction.I am neutral for GBP but bullish for USD next week and right now in profit with USDJPY long
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #593,613
  • May 7, 2021 11:25am May 7, 2021 11:25am
Quoting Pipa1
Today GU 1.39750 -1.40++ EU 1.21250 -121500
I was dam RIGHT , just before NFP
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #593,614
  • May 7, 2021 11:31am May 7, 2021 11:31am
Quoting segarann
GBP USD 1HR Upper Trend - 1.39403, 1.39067 Lower Trend - 1.38863 1.38895 UTD - 1.38995 BROKEN AT 1.39019 Target - 1.39726 (707 PIPS) LTD 1.38919 Target - 1.38717 {image}

As said by chart
  • #593,615
  • May 7, 2021 11:43am May 7, 2021 11:43am
Quoting JayBag
{quote} I can't tell you or anyone what to do. But buying this requires a king-size balls my friend But you know the drill anyway Be Kind
jay at what point do you think it may start falling bro
  • #593,616
  • May 7, 2021 11:43am May 7, 2021 11:43am
Short at 13974 open tp but it’s Moty’s hammer time
Insane in the Brain..
  • #593,617
  • May 7, 2021 11:48am May 7, 2021 11:48am
Quoting Bacco
Waiting for the high 4009 to be corrected and shorting from there to balance the move down to 3975 {image}
4009 still waiting and didnt triggered my short down
Twitter: Rummer_grapes
  • #593,618
  • May 7, 2021 11:54am May 7, 2021 11:54am
Quoting Yngwie
Bad day for USD news. Treasury Sec Yellen speaks give a strength. Selling with SL at 4020 {image}
Yes my boss, I can see that the bull today is trap it will time for bearish
  • #593,619
  • May 7, 2021 12:05pm May 7, 2021 12:05pm
4000 could be this week high but a reverse is very much possible after the horn. RSI 12 suggests market is overbought already (H4 chart).
Try the simple and make it for you ~
  • #593,620
  • May 7, 2021 12:13pm May 7, 2021 12:13pm
1.4000 or 1.4020 then downfall to 1.3670 them 1.3400
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