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Cable Update (GBPUSD)

  • #596,401
  • May 20, 2021 12:38pm May 20, 2021 12:38pm
GBPUSD will rise...
There is no point to sell right now
(Current situation, will check tomorrow)
  • #596,402
  • May 20, 2021 12:39pm May 20, 2021 12:39pm
the candles looking weird...is the storm coming?
  • #596,403
  • May 20, 2021 12:44pm May 20, 2021 12:44pm
These are our current position recommendations from our tool if someones interested
As you now, it can change from minute to minute

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  • #596,404
  • Edited 12:55pm May 20, 2021 12:44pm | Edited 12:55pm
Quoting windows1087
the candles looking weird...is the storm coming?
This is a pretty dead time in FX. Advise to switch it off and forget about opening positions after 17:00 BST. Volume will pick up again around 01:00 BST.

Anyone wondering if they could have got in on that buy. Personally I'd just booked my profit from the sell and wasn't thinking quickly enough to reverse. We had a double bottom with MACD divergence, if you see these on a support or demand level (round number here for added confluence), then it's a very good LTF reversal signal. Probably the divergence would be on whatever oscillator etc you use. I could not have foreseen such a big rise today though and usually would only hold to the nearest resistance/supply.

https://www.tradingview.com/x/M612VdAJ/
  • #596,405
  • May 20, 2021 12:52pm May 20, 2021 12:52pm
Bought @ 4177 7 pips SL 299 pips TP


!!!!!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #596,406
  • May 20, 2021 12:53pm May 20, 2021 12:53pm
Quoting mysterio
{quote} This is a pretty dead time in FX. Advise to switch it off and forget about opening positions after 17:00 BST. Volume will pick up again around 01:00 BST.
Sounds like good advice from an experienced trader!
Thanks, Darion
  • #596,407
  • May 20, 2021 1:13pm May 20, 2021 1:13pm
So far good. I closed my earlier position this week with TP 1.4205
Today I opened a new position at 1.4120 with TP 1.429x
My observation may be wrong but intent correct. Stay calm!
  • #596,408
  • May 20, 2021 1:17pm May 20, 2021 1:17pm
unbelievable
after a very nice drop yesterday , price conciliated for a while , and instead of continue to drop , it reversed
and go up , breaking the average daily range , leaving me with a sell position at the low of the day
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yes yes yes
  • #596,409
  • May 20, 2021 1:19pm May 20, 2021 1:19pm
Quoting Pipa1
Dear bulls , say hello to my little friend!{image}
Who exactly? Hahaha
You have to have an IQ higher than 90 to interact with this user.
  • #596,410
  • May 20, 2021 1:19pm May 20, 2021 1:19pm
Quoting Moty
unbelievable after a very nice drop yesterday , price conciliated for a while , and instead of continue to drop , it reversed and go up , breaking the average daily range , leaving me with a sell position at the low of the day {image}
Thatīs whats gonna happen if traders trade against the banks.
Anyways, interesting to read what you think/thought of the market.
Will continue to read.

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  • #596,411
  • May 20, 2021 1:34pm May 20, 2021 1:34pm
Quoting Nordling00
This is a great opportunity to buy, sellers. Be careful.
Quoting Nordling00
{quote} I didn't have time to elaborate on that and i just had time to take an eye at FOMC Minutes. And it says: "...the Board of Governors voted unanimously to leave the interest rates on required and excess reserve balances at 0.10 percent. The Board of Governors also voted unanimously to approve establishment of the primary credit rate at the existing level of 0.25 percent, effective April 29, 2021." So USD will continue losing it's value. And the down move in GBP/USD today is nothing but a pullback. Just like last week's CPI data. That's why...
Yeah just as i expected yesterday looks like a pullback now. Of course we will see if it's going to pass these levels and make new higher highs. I think it will though, I am holding my long. Good luck everyone!
You have to have an IQ higher than 90 to interact with this user.
  • #596,412
  • May 20, 2021 1:37pm May 20, 2021 1:37pm
Quoting GreyInvest
{quote} Thatīs whats gonna happen if traders trade against the banks. Anyways, interesting to read what you think/thought of the market. Will continue to read. {image}
i thing that bulls took over and will continue to go up tomorrow or on Monday
after a retracement
that's why i am staying at this trade and will exit when price touch the band ( the band is envelope 27 sma , deviation 0.02)
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maybe the way to trade is on the 5 m chart , without long tern view
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yes yes yes
  • #596,413
  • May 20, 2021 1:40pm May 20, 2021 1:40pm
Quoting Moty
unbelievable after a very nice drop yesterday , price conciliated for a while , and instead of continue to drop , it reversed and go up , breaking the average daily range , leaving me with a sell position at the low of the day {image}
There is a hidden divergence, perhaps the price will make another high
My observation may be wrong but intent correct. Stay calm!
  • #596,414
  • May 20, 2021 1:49pm May 20, 2021 1:49pm
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yes yes yes
  • #596,415
  • May 20, 2021 1:52pm May 20, 2021 1:52pm
Quoting mtako
Bought @ 4177 7 pips SL 299 pips TP !!!!!
Bought .4182 SL 4pips TP 1166pips
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #596,416
  • May 20, 2021 1:58pm May 20, 2021 1:58pm
Quoting Moty
{image}
looks good, but I am anticipating even higher around 1.429x to make a new high.
lets see. All the best!
My observation may be wrong but intent correct. Stay calm!
  • #596,417
  • May 20, 2021 2:02pm May 20, 2021 2:02pm
I bought GBPUSD. @ 1.4177 SL Open .TP 1.4250 my own insight could be wrong .
  • #596,418
  • May 20, 2021 2:05pm May 20, 2021 2:05pm
Quoting parshal
Now cable can test the new high at 1.428x Bought Cable at 1.4120
I had to close this one with some loses yesterday and re-bought at the same price targeting 1.429x
My observation may be wrong but intent correct. Stay calm!
  • #596,419
  • May 20, 2021 2:12pm May 20, 2021 2:12pm
Seems determined to touch 1.42 tonight
  • #596,420
  • May 20, 2021 2:17pm May 20, 2021 2:17pm
taking a (probably bad) gamble for a short limit at 4195. 30 pip stop only. no TP
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