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Cable Update (GBPUSD)

  • #610,781
  • Jul 20, 2021 3:15am Jul 20, 2021 3:15am
I am counting on 1.3750 before 1.3627 breaks. My stop for longs 1.3627
Intraday only.
  • #610,782
  • Jul 20, 2021 3:17am Jul 20, 2021 3:17am
Quoting KiwiTrada
dix struggling but working on 93 00 - 93 03, need a new high or potential daily double top
my friend , time for long in gold
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 27 KB
yes yes yes
  • #610,783
  • Jul 20, 2021 3:17am Jul 20, 2021 3:17am
Weekly is down maybe not 1.41,but less.better concantrate on daily
  • #610,784
  • Jul 20, 2021 3:22am Jul 20, 2021 3:22am
Good morning all.Very strong GU bearish momentum after yesterday’s move. I still fancy the idea that we are at a demand level and 1.3808 is still outstanding as a liquidity void level. Yesterday I was wrong with my long position and took a loss. I will try again today. Long at 1.3642, SL1.3627. This is a risky counter but I trade what I see. I am ready to switch to short if the bear momentum continues, if not, I'll buy more.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 20 July.jpg Size: 154 KB
Did you place your stop loss order? Why not?!? Story of my life...
  • #610,785
  • Jul 20, 2021 3:24am Jul 20, 2021 3:24am
Long.


1.37000 is my tp
#Stay blue. /swinger/scalper/
  • #610,786
  • Jul 20, 2021 3:26am Jul 20, 2021 3:26am
1.3627 is likely to be the lowest price level for this week
Lost in Narrative
  • #610,787
  • Jul 20, 2021 3:40am Jul 20, 2021 3:40am
Quoting KiwiTrada
{quote} yes both kiwi and aussie made new daily lows, kiwi has psych 6900 aussie a little way to hers 7300 with regards to relationship with cable irrelevant because exotic data, cable is driven by sterling and usd, better information elsewhere cable hourly bulls have breached a falling upper tl however shes printing a rising channel to do it, aka bearflag, if flag breaks south otherwise trade the channel she is tapping ltl????
bear flag bo retest possibly done 1 3667, now for continuation south it is contra gb100 but gold already was with strong resistance holding, for now anyway
If you are new to Forex? Say Goodbye to your account!!
  • #610,788
  • Jul 20, 2021 3:43am Jul 20, 2021 3:43am
After yesterday’s huge drop and selloff in the DOW, I’d expect to see more demand for USD and the declining risk appetite for buying equities to continue, i.e DOW to go lower. This should reflect in GU and the pair will go higher towards 1.3750-1.3800 thanks to the USD demand. I know that this sounds like a simplistic argument, but it might have its effect on GU, IMO
Did you place your stop loss order? Why not?!? Story of my life...
  • #610,789
  • Jul 20, 2021 3:46am Jul 20, 2021 3:46am
1.36672 former Support now Resistance... possible continuation to the downside
Attached Image (click to enlarge)
Click to Enlarge Name: bignumb.png Size: 28 KB
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  • #610,790
  • Jul 20, 2021 3:48am Jul 20, 2021 3:48am
Quoting coyoteuglyxxx
After yesterday’s huge drop and selloff in the DOW, I’d expect to see more demand for USD and the declining risk appetite for buying equities to continue, i.e DOW to go lower. This should reflect in GU and the pair will go higher towards 1.3750-1.3800 thanks to the USD demand. I know that this sounds like a simplistic argument, but it might have its effect on GU, IMO
Sorry man the logic is back to front. Stronger dollar sends GU down. Unless I completely misunderstood what you wrote

Let's not forget the dip buyers in equities have been relentless over the past months too, there is so much money sloshing around the system
  • #610,791
  • Jul 20, 2021 3:54am Jul 20, 2021 3:54am
GU couldbe test 1.3741-1.3761
  • #610,792
  • Jul 20, 2021 3:54am Jul 20, 2021 3:54am
For all the "Buyers" out there , The trend change doesn't happens that easy
  • #610,793
  • Jul 20, 2021 3:55am Jul 20, 2021 3:55am
ADR is 100 pips.

Today range until now is 3689 to 3627.

62 pips.

Assuming 2627 to be low... I expect 3730/40/50 today.
Intraday only.
  • #610,794
  • Jul 20, 2021 4:04am Jul 20, 2021 4:04am
Quoting mysterio
{quote} Sorry man the logic is back to front. Stronger dollar sends GU down. Unless I completely misunderstood what you wrote Let's not forget the dip buyers in equities have been relentless over the past months too, there is so much money sloshing around the system
You are right. Would it be a strong GBP then, that could take it back up after yesterday? I am still fooling myself with the longs here.
Did you place your stop loss order? Why not?!? Story of my life...
  • #610,795
  • Jul 20, 2021 4:10am Jul 20, 2021 4:10am
Hello friends,Cable bearish sentiment prevailed yesterday monday trade and in the abscence of key events could not test monday's resistance level @ 1.3811 posted, but fell all the way to tuesday's support @ 1.3681, breaking the suport down to 1.3854 day's low. we posted yesterday evening that if yesterday low 1.3854 remain unbroken and if 1.3681(support turned resistance) breaks (by 7pips) by 1:30 AM GMT(AUD key event) then we can expect a bullish tuesday trade the whole day as the AUD event has helped to cancel the bearish bias today. happy trading
  • #610,796
  • Jul 20, 2021 4:13am Jul 20, 2021 4:13am
A break of today's open will give me more confirmation on the bullish move.
#Stay blue. /swinger/scalper/
  • #610,797
  • Edited 4:35am Jul 20, 2021 4:17am | Edited 4:35am
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 53 KB



croocky gu is back above 1.36696
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 30 KB
yes yes yes
  • #610,798
  • Jul 20, 2021 4:17am Jul 20, 2021 4:17am
Trading stop hunting
  • #610,799
  • Jul 20, 2021 4:22am Jul 20, 2021 4:22am
Quoting Moty
3993249 croocky gu is back above 1.36696{image}
DXY approaching a test level - this would help GU either sink or swim
Attached Image (click to enlarge)
Click to Enlarge Name: DXY 20 July.jpg Size: 138 KB
Did you place your stop loss order? Why not?!? Story of my life...
  • #610,800
  • Jul 20, 2021 4:22am Jul 20, 2021 4:22am
I just did a quick assessment. I know I mentioned that I have no idea where the support may be for a retest to 1.37146. Now that I think about it, 1.34565 looks legit for that bounce. Yes, there will be minor bounces here and there but I am more interested in significant or related ones.

We already broke below weekly 100% and currently retesting the H1 BO candle. This should be interesting.
Take Care and be KIND gang.
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