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Cable Update (GBPUSD)

  • #596,841
  • May 23, 2021 3:46pm May 23, 2021 3:46pm
Quoting windows1087
I think i have the best strategy for you guys: if i will go short, the marked is going long. If i will go long, the market will go short. Trust me guys!
Not so long ago I had the same.
Air force
  • #596,842
  • May 23, 2021 3:59pm May 23, 2021 3:59pm
Here's my take on the GBPUSD, from the technical perspective of a medium-term swing trader. Price action on the daily time frame is presently above an inner rising trendline (blue) from lows traceable to November 2, 2020, having moved away from an outer rising trendline (red) seen on the weekly time frame. Meanwhile, price action is sideways, producing ‘wicky’ tops as it tackles a minor horizontal resistance around the 1.42410 area (magenta). Should bulls maintain a strong influence in the market, we may see further northward push, but any bullish misstep may incentivize bears for a southward pullback.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily_May 23, 2021.png Size: 47 KB
Do your homework, follow the footprints of smart money
  • #596,843
  • May 23, 2021 4:02pm May 23, 2021 4:02pm
Quoting KeenPips
Here's my take on the GBPUSD, from the technical perspective of a medium-term swing trader. Price action on the daily time frame is presently above an inner rising trendline (blue) from lows traceable to November 2, 2020, having moved away from an outer rising trendline (red) seen on the weekly time frame. Meanwhile, price action is sideways, producing ‘wicky’ tops as it tackles a minor horizontal resistance around the 1.42410 area (magenta). Should bulls maintain a strong influence in the market, we may see further northward push, but any bullish...
The lines are wrong.
  • #596,844
  • May 23, 2021 4:05pm May 23, 2021 4:05pm
Quoting Tim_isoara
{quote} The lines are wrong.
imo
there is no wrong lines

dolce vita
  • #596,845
  • May 23, 2021 4:10pm May 23, 2021 4:10pm
if she goes down

Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD wmpp.png Size: 36 KB

charting on fxstreet
dolce vita
  • #596,846
  • May 23, 2021 4:10pm May 23, 2021 4:10pm
Quoting babayaga
{quote} imo there is no wrong lines
Lines not connecting anything are wrong lines in FX.
Everyone can see the chart, but only a few can actually read it.
  • #596,847
  • May 23, 2021 4:19pm May 23, 2021 4:19pm
Quoting Tim_isoara
{quote} The lines are wrong.
How the lines can be wrong, if it is an element of subjective TA?
Air force
  • #596,848
  • May 23, 2021 4:43pm May 23, 2021 4:43pm
I trade price action not just lines. The lines are a guide and vary as market operation dictates.

KP

Quoting Tim_isoara
{quote} The lines are wrong.
Do your homework, follow the footprints of smart money
  • #596,849
  • May 23, 2021 4:46pm May 23, 2021 4:46pm
Be interesting to see how European/London open goes as it “could” set the trend for the next day or so
Insane in the Brain..
  • #596,850
  • May 23, 2021 4:59pm May 23, 2021 4:59pm
Quoting OnlineAddict
{quote} Lines not connecting anything are wrong lines in FX.
if so it's not even a line
dolce vita
  • #596,851
  • May 23, 2021 5:20pm May 23, 2021 5:20pm
Quoting Jgcole83
I'd be long gbp/usd, eur/usd, short usd/jpy. Eur/usd, and gbp/usd look like they're both gonna breakout above resistance while uj has been breaking down. This all makes sense with the recent breakdown in dollar futures and low usd rates. Just my 2 cents.
Yes, i thought the same last month too. While taking great profits from Euro and GBP, I stopped out
on JPY. Actually it was going fine until Japanese government decided to announce state of emergency and new quarantine. Their vaccination speed is very bad for a developed country as well. So after announcing state of emergency in 23th April, JPY weakened significantly. I still don't think of taking another JPY trade since vaccination numbers are still very low.
You have to have an IQ higher than 90 to interact with this user.
  • #596,852
  • May 23, 2021 5:33pm May 23, 2021 5:33pm
Quoting KeenPips
I trade price action not just lines. The lines are a guide and vary as market operation dictates. KP {quote}
agreed, trendlines are extremely unreliable to actually trade, however they do indicate areas/ zones of interest, where additional identifying techniques will fine tune the target trade zone :-)
If you are new to Forex? Say Goodbye to your account!!
  • #596,853
  • May 23, 2021 5:46pm May 23, 2021 5:46pm
Very much in agreement. In fact, there's an intraday trendline trading that is total different from conventional trendline trading because it aligns with price action momentum.

KP

Quoting KiwiTrada
{quote} agreed, trendlines are extremely unreliable to actually trade, however they do indicate areas/ zones of interest, where additional identifying techniques will fine tune the target trade zone :-)
Do your homework, follow the footprints of smart money
  • #596,854
  • May 23, 2021 5:48pm May 23, 2021 5:48pm
Quoting W0lfram
{quote} How the lines can be wrong, if it is an element of subjective TA?
You must to connect the line with price. Not to put on air or... see the chart
  • #596,855
  • May 23, 2021 5:51pm May 23, 2021 5:51pm
Quoting babayaga
{quote} imo there is no wrong lines
You put the line in the air?
  • #596,856
  • May 23, 2021 6:01pm May 23, 2021 6:01pm
Quoting KeenPips
I trade price action not just lines. The lines are a guide and vary as market operation dictates. KP {quote}
OK. You trade price action. Why you put a line in the air, another ...? It's hard to put the lines?
  • #596,857
  • May 23, 2021 6:03pm May 23, 2021 6:03pm
Quoting Tim_isoara
{quote} You put the line in the air?
excuse me
???
you took me for OnlineAddict (?)

btw your question has no sense
sorry to point it

dolce vita
  • #596,858
  • May 23, 2021 6:09pm May 23, 2021 6:09pm
Nothing to argue about mate. Just read the original post and see the point I was making.

KP

Quoting Tim_isoara
{quote} OK. You trade price action. Why you put a line in the air, another ...? It's hard to put the lines?
Do your homework, follow the footprints of smart money
  • #596,859
  • May 23, 2021 6:14pm May 23, 2021 6:14pm
do I become suspicious (?)
cable is going up (?)
most indicators are showing divergence - pointing down (?)

Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD-div 24 05.png Size: 143 KB

charting on fxstreet
dolce vita
  • #596,860
  • May 23, 2021 6:23pm May 23, 2021 6:23pm
divergence on daily ( double divergence (?))
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmicro-d1-xm-global-limited.png Size: 50 KB
dolce vita
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