Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#594,261
May 11, 2021 2:21pm May 11, 2021 2:21pm

Bainbrito
Joined Apr 2021 | Status: Trader | 383 Posts

Quoting BeeTogether

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{quote} patience don’t poke the sleeping bear the MF will take everyone by surprise... although it’s been bullish today the pair look like it’s running out of steam compared to yesterday.

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It's true, the bulls are tired after that run but only takes one MM MF to wave a red flag and they are stampeding to 1.42

#594,262
May 11, 2021 2:23pm May 11, 2021 2:23pm

BeeTogether
Joined Oct 2020 | Status: Trader | 14,017 Posts

Quoting Bainbrito

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{quote} It's true, the bulls are tired after that run but only takes one MM MF to wave a red flag and they are stampeding to 1.42

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yup that too! I think tomorrow with the loss of steam we could see 141

Insane in the Brain..

#594,263
May 11, 2021 2:37pm May 11, 2021 2:37pm

mysterio
Joined Sep 2009 | Status: Trader | 6,009 Posts

Quoting Lupin.III

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Buyers are trying very hard to raise the price of the pound. But even though the dollar is not strong enough, they could not raise the price of the pound. When the dollar comes to power, sellers will gain more power. I apologize for my poor English. {image} {image}

Ignored

Correct

Nice big CPI print tomorrow and we drop, or it can start overnight

imo, anything can happen

#594,264
May 11, 2021 2:45pm May 11, 2021 2:45pm

nikosk0
| Commercial User | Joined Apr 2020 | 776 Posts

Quoting Bones

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{quote} Its a very straightforward story How you make money from inflation is from low interest debt & buy something thats real, Copper went up in value and it's not going back. {image}

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yep agreed

i have 40k worth of 2003 price in cooper tubes (todays price above 200k + half of it was sold in the first 2 years, total value when we bought it was 80k). i only sell small portions every year (1% or less and that only in winter when prices are higher). my father didnt knew about stocks and such but he did know his bussiness at the time. and personally i treat them like a safe for emergency, if need may be, its easy to sell everything.

and the tubes i dont have, i buy on september, sell on the winter and manage accordingly to last me for the summer.

same with cables but a lot less gross income from them, they make less than 20% of my total copper value.

these things work with all the markets, but u need to learn them very well. the fundamentals behind them and the technicals come next, when trading that way

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offering my system to copy trade. check my link

#594,265
May 11, 2021 3:18pm May 11, 2021 3:18pm

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

... Today the 4166 current daily hi (after the 4158- 4103 intraday range was broken to the upside) is deeper into that previous dly/wkly/minor mthly swing hi zone to 4242, where supply was encountered @ that hi. Could be further supply layered deeper into if it tested. Mthly R1 @/around 4171.

...Uk Gdp then U.s Cpi tomorrow so could see some fireworks. Volatility would be welcome lol! Be prepared for anything, (or indeed nothing,!) and follow what actually happens not what we think/pre-assume should be happening.

Till tomorrow.

Trader with an Edge.

#594,266
May 11, 2021 3:31pm May 11, 2021 3:31pm

babayaga
Joined Aug 2010 | Status: Trader | 5,359 Posts

1.4140th - today close(?) price is tomorrow pivot (area)
such a kind of scenario happened already few times

she is free to go in any direction

see you

dolce vita

#594,267
May 11, 2021 3:48pm May 11, 2021 3:48pm

parshal
| Joined Jan 2021 | Status: Trader | 348 Posts

It was a tough day...bulls were all around running...but bears could hold them within 50 pips range.
I hope it falls all through where it started from 1.38x area. But like many fellow traders also targeting even lower, I will definitely not stop the rail going down.
Just chill after a hard day. Relax and Cheers. Nice evening!

My observation may be wrong but intent correct. Stay calm!

#594,268
May 11, 2021 3:59pm May 11, 2021 3:59pm

Pipa1
Joined May 2021 | Status: Trader | 424 Posts

Quoting Headland

Disliked

... Today the 4166 current daily hi (after the 4158- 4103 intraday range was broken to the upside) is deeper into that previous dly/wkly/minor mthly swing hi zone to 4242, where supply was encountered @ that hi. Could be further supply layered deeper into if it tested. Mthly R1 @/around 4171. ...Uk Gdp then U.s Cpi tomorrow so could see some fireworks. Volatility would be welcome lol! Be prepared for anything, (or indeed nothing,!) and follow what actually happens not what we think/pre-assume should be happening. Till tomorrow.

Ignored

It's going to drop sharply on Asian session.Last spike was the stop run. In the last 30 hours traded in a tight range ---> accumulation for possible retracement to 1.40, reversal.

I'm The Real Deal Quant-XR ,The Financial Hacker

#594,269
May 11, 2021 4:05pm May 11, 2021 4:05pm

KiwiTrada
Joined Aug 2009 | Status: Trader | 12,448 Posts

Quoting KiwiTrada

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{quote} swissy is very similar, inverted H&S with clear neckline BO and retest already played waiting for a decent push north, not a big pattern H&S target approx 90 41 but what is more important, generally H&S are reversal patterns!!!!!

Ignored

9hrs later she is 1 pip away from H&S (inverted) target, eu complied with daily LL, dix H&S invalid with right shoulder lower than head, however 90 still holding so now double bottom in play daily, market is fluid, trader needs to be also :-) copper daily has printed LL and if it closes with a LH, yesterdays inverted hammer should come into play, great to see people bought it year ago, that is irrelevant, what matters is now, got a great buy (retrospective) year ago, potential for awesome short "NOW" real time :-)

If you are new to Forex? Say Goodbye to your account!!

#594,270
May 11, 2021 4:18pm May 11, 2021 4:18pm

CHeard
| Joined Apr 2021 | Status: Trader | 6 Posts

Quoting parshal

Disliked

It was a tough day...bulls were all around running...but bears could hold them within 50 pips range. I hope it falls all through where it started from 1.38x area. But like many fellow traders also targeting even lower, I will definitely not stop the rail going down. Just chill after a hard day. Relax and Cheers. Nice evening!

Ignored

It's a shared feeling Parshal!
Just waiting a few more minutes to disconnect, relax and have a beer (or two)..

Greetings from UK!

#594,271
May 11, 2021 4:29pm May 11, 2021 4:29pm

Vincent1
Joined Aug 2019 | Status: Trader | 598 Posts

Quoting Bones

Disliked

{quote} I wouldn't try to short copper if you look on the Q how long it takes to reverse that kind of momentum from the time you mention 2011 . I don't think it will reverse there and prices will be accepted at all time highs (on the Q) .I think the speech was the catalyst but I'm sure there are many reasons why it reversed So the Fed control overnight rates thats what they're talking about not raising.The way to control the rates in the retail economy is buy much more of the curve. They need to buy the longer maturities and that would be a very...

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