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Cable Update (GBPUSD)

  • #598,661
  • May 31, 2021 6:48am May 31, 2021 6:48am
Quoting babayaga
she doesn't want to come to 1.4150th? come mai
per favore, non tornare mai piu a 4150 !

Quoting mtako
....Buy stop cancelled if 4150 is touched before. If goes down first, need a clean rejection of 4160s or probabilities go down too much for this setup as it is probably still just ranging, extending the risk... Going back to beddddddddd Wish you all a very good week !
Vacation Monday ! Hope all of you are taking advantage of it !
Attached Image
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #598,662
  • May 31, 2021 6:55am May 31, 2021 6:55am
don't you think this monthly candle needs wick (upper shadow )
H 1.42332 for now

only my curiosity
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmicro-mn1-xm-global-limited.png Size: 45 KB
dolce vita
  • #598,663
  • May 31, 2021 7:00am May 31, 2021 7:00am
Quoting mtako
{quote} per favore, non tornare mai piu a 4150 ! {quote} Vacation Monday ! Hope all of you are taking advantage of it ! {image}

for you

Inserted Video


let's see how she plays on last day
dolce vita
  • #598,664
  • May 31, 2021 7:02am May 31, 2021 7:02am
I Closed all Long Position and Open Shorts
SL: 1.4215
TP: 1.4150
and waiting for Dear Bears
Lost in Narrative
  • #598,665
  • May 31, 2021 7:15am May 31, 2021 7:15am
low volume..........irritating...
  • #598,666
  • May 31, 2021 7:31am May 31, 2021 7:31am
Quoting maheeee
low volume..........irritating...
candle need to close as bull candle
  • #598,667
  • May 31, 2021 7:50am May 31, 2021 7:50am
Quoting maheeee
{quote} candle need to close as bull candle
do you mean Daily?

thank you
dolce vita
  • #598,668
  • May 31, 2021 7:54am May 31, 2021 7:54am
Monday Update:

Attached Image (click to enlarge)
Click to Enlarge Name: Update.png Size: 25 KB


Buy when you still can. GBP still have the upper hand fundamentally and it will continue having that advantage over USD since we don't have any important data releases this week. Client sentiment says 65% of retails are short, and in COT reports Non-commercials (big speculators) are long.

Attached Image


So while retails are selling, whales are buying. Always side with whales, don't try to be the hero guys. This ain't no GameStop.

Also here's my past GU, EU, CHF/PLN trades. You can see when did i close those trades and how much pips i made. I actually took profits from my CHF/PLN trade today since Poland's GDP data came out bad this morning. You can see all of these here:

Attached Image (click to enlarge)
Click to Enlarge Name: History.png Size: 22 KB


No BS, I always talk with proofs and try to be helpful as you guys know, have a good week everyone!
You have to have an IQ higher than 90 to interact with this user.
  • #598,669
  • May 31, 2021 7:56am May 31, 2021 7:56am
Quoting babayaga
{quote} do you mean Daily? thank you
yes
  • #598,670
  • May 31, 2021 8:03am May 31, 2021 8:03am
Quoting Nordling00
Monday Update: {image} Buy when you still can. GBP still have the upper hand fundamentally and it will continue having that advantage over USD since we don't have any important data releases this week. Client sentiment says 65% of retails are short, and in COT reports Non-commercials (big speculators) are long. {image} So while retails are selling, whales are buying. Always side with whales, don't try to be the hero guys. This ain't no GameStop. Also here's my past GU, EU, CHF/PLN trades. You can see when did i close those trades and how much pips...

mark my words bro...friendly banter
WE are going down..trust me LOL
  • #598,671
  • May 31, 2021 8:06am May 31, 2021 8:06am
Quoting Nordling00
we don't have any important data releases this week.
Just that pesky Non farm payrolls release
  • #598,672
  • May 31, 2021 8:06am May 31, 2021 8:06am
Quoting nAVIN2007
{quote} I do not see how that is possible looking at a monthly bearing in mind u think it's going to break the top? interested in knowing what u are seeing?
2011 - 2020 January To June Distance

2011
Low 1.5406 - High 1.6744 = 1338 pips range
2012
Low 1.5235 - High 1.6300 = 1065 pips range
2013
Low 1.4828 - High 1.6338 = 1510 pips range
2014
Low 1.6252 - High 1.7114 = 862 pips range
2015
Low 1.4565 - High 1.5929 = 1364 pips range
2017
Low 1.1986 - High 1.3047 = 1061 pips range
2018
Low 1.3049 - High 1.4376 = 1327 pips range
2019
Low 1.2423 - High 1.3381 = 958 pips range

Minimum - 862 pips (Year 2014)
Average - 1186 pips
Maximum - 1510 pips (Year 2013)

2021 so far
1.3450 - 1.4241 = 791 pips range

* Years 2016 and 2020 were ommitted because of Brexit Referendum and Covid 19 break out months which were included between January to June of those years.

From the above statistics, it can be deduced that year 2021 so far being 791 pips range still has additional 71 pips to equal the minimum January to June Distance of Year 2014 being 862 pips range

Scenario Break down
Current 2021 Low (1.3450) + 862 pips = 1.4312
Current 2021 High (1.4241) - 862 pips = 1.3379

This equation means either 1.4312 or 1.3379 must be touched this June if this year is to respond to the above range equation.

Subtle clues
* The current price being 1.4188 is much closer to 1.4312 and much farther from 1.3379

* Most times, even if the month has to end bearish, the candle will most likely come with an upper shadow before deep reversal, which indirectly implies that whatever opening price we see in June will have higher price movement before any fall (if ever)

* Year 2013 and Year 2020 have highest January to June ranges and Year 2014 unsurprisingly came with lowest January to June range (862 pips)

Year 2013 ended the year aggressively bullish, and continued it's bullishness till July 2014, Year 2020 also ended the year aggressively bullish and has carried the bullish momentum to year 2021.

Another observation is that January to May Range of Year 2014 being 740 pips is very similar to this current year 2021 January to May Range being 791 pips so far.

Years 2013/2014 price action and distance covered is so identical to years 2020/2021 price action and distance covered.

There is a strong case of possible 1.4312/1.4370 this June before a possible crash to 1.3600 and then 1.2800 at the end of year 2021.

This research work is for informational purposes and not in anyway trade advise. Trade with utmost caution.

Cheers,
George
Data + Stat + Risk/Emotions Management
  • #598,673
  • May 31, 2021 8:07am May 31, 2021 8:07am
to me still in short mode below 4187/90.

No trades though as volume is minimum
Intraday only.
  • #598,674
  • May 31, 2021 8:08am May 31, 2021 8:08am
Quoting nAVIN2007
{quote} mark my words bro...friendly banter WE are going down..trust me LOL
Of course, no offense.

But no way mate, mark my words as well. If we ever go down, then that means majority of whales are getting hunted and retails are the one hunting them. And that only happens once or twice in a lifetime. Like it happened in GameStop.
You have to have an IQ higher than 90 to interact with this user.
  • #598,675
  • May 31, 2021 8:13am May 31, 2021 8:13am
Quoting nAVIN2007
{quote} mark my words bro...friendly banter WE are going down..trust me LOL
I can only agree with you
For traders on Daily/Weekly, main direction is
  • #598,676
  • May 31, 2021 8:13am May 31, 2021 8:13am
Quoting Nordling00
{quote} Of course, no offense. But no way mate, mark my words as well. If we ever go down, then that means majority of whales are getting hunted and retails are the one hunting them. And that only happens once or twice in a lifetime. Like it happened in GameStop.
It is going to be interesting!!.. lets see bro
  • #598,677
  • May 31, 2021 8:14am May 31, 2021 8:14am
Quoting Vincent1
{quote} I can only agree with you For traders on Daily/Weekly, main direction is
we gonna go deep..the move up is corrective
  • #598,678
  • May 31, 2021 8:18am May 31, 2021 8:18am
Quoting Georginson
{quote} 2011 - 2020 January To June Distance 2011 Low 1.5406 - High 1.6744 = 1338 pips range 2012 Low 1.5235 - High 1.6300 = 1065 pips range 2013 Low 1.4828 - High 1.6338 = 1510 pips range 2014 Low 1.6252 - High 1.7114 = 862 pips range 2015 Low 1.4565 - High 1.5929 = 1364 pips range 2017 Low 1.1986 - High 1.3047 = 1061 pips range 2018 Low 1.3049 - High 1.4376 = 1327 pips range 2019 Low 1.2423 - High 1.3381 = 958 pips range Minimum - 862 pips (Year 2014) Average - 1186 pips Maximum - 1510 pips (Year 2013) 2021 so far 1.3450 - 1.4241 = 791 pips range...
Amazing Thank you for taking the time to provide a different insight, appreciated
1.33 here I come LOL
I actually have a target 1.35
  • #598,679
  • May 31, 2021 8:20am May 31, 2021 8:20am
Quoting mysterio
{quote} Just that pesky Non farm payrolls release
Yes there's also that and i am sure it will create some volatility.

But there's three scenarios about upcoming NFP:

1. If NFP data comes lower than expected, then GU will rise, but faster.

2. If NFP data comes around the consensus number, GU will rise, but in a normal speed.

3. If NFP data comes higher than expected, GU will probably make a pullback, giving some time to buy and rise again. That rise can continue if US Inflation data comes higher than expected (10th of June)

So we have roughly 75% chance to see GU going up.
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  • #598,680
  • May 31, 2021 8:24am May 31, 2021 8:24am
Spike up is only a matter of time.
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