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Cable Update (GBPUSD)

  • #618,741
  • Aug 23, 2021 12:11pm Aug 23, 2021 12:11pm
buy
  • #618,742
  • Aug 23, 2021 12:18pm Aug 23, 2021 12:18pm
I believe it's time for a possible reversal... USD is findung it hard to break through 1.37252....... But let's keep watching
  • #618,743
  • Aug 23, 2021 12:19pm Aug 23, 2021 12:19pm
Btw y'all should check USD/CHF... Its a smooth bear ride
  • #618,744
  • Aug 23, 2021 12:26pm Aug 23, 2021 12:26pm
Quoting Nuel101
Btw y'all should check USD/CHF... Its a smooth bear ride
Hi N,

No offence, but I'd rather go live in mercury with warm cloths than trade that instrument again.
Yerrrrr no way
  • #618,745
  • Aug 23, 2021 12:37pm Aug 23, 2021 12:37pm
Quoting JayBag
{quote} Hi N, No offence, but I'd rather go live in mercury with warm cloths than trade that instrument again. Yerrrrr no way
Guess you got burned pretty bad

USD /CHF isn't a pair you jump on non chalantly... But once it's move starts its huge af
  • #618,746
  • Aug 23, 2021 12:57pm Aug 23, 2021 12:57pm
Will see what Asia does

Bear next is predicated on dxy breakout but equities rallied hard today so if its proper dip buying maybe dxy just overshot a bit. If its a dead cat bounce we may know by tomorrow. Unlikely to want to short above 3750, see what clues we have tomorrow. There's an asc TL on dxy and daily demand worth watching. Of course its best to combine PA with levels and not have preconceived notions too many steps in advance.
  • #618,747
  • Aug 23, 2021 1:01pm Aug 23, 2021 1:01pm
Quoting W0lfram
Institutions/algos (they are liquidity providers, trading mainly with limit orders) exhausted buyers for a whole last week, blocking price. Other way around now? Funny game{image}
Hi wolfram..
Honestly i don't have any idea obout those numbers on your pictures, but in my analysis i think Cable will go long on this week but tomorow will drop to make rectrace down maybe to HH 20 August jus't to retest OB
Using Chaos to Finding Order
  • #618,748
  • Edited 1:41pm Aug 23, 2021 1:18pm | Edited 1:41pm
Here we go back up again!
Nice feeling, would have been nice to see this move last Friday though.

Well, last night was 50%/50% chance, now it looks we are streching towards 1.46.

Anything can still happen as Jackson Hall meeting is approaching, can stear things around.
  • #618,749
  • Aug 23, 2021 1:22pm Aug 23, 2021 1:22pm
Quoting mysterio
Will see what Asia does Bear next is predicated on dxy breakout but equities rallied hard today so if its proper dip buying maybe dxy just overshot a bit. If its a dead cat bounce we may know by tomorrow. Unlikely to want to short above 3750, see what clues we have tomorrow. There's an asc TL on dxy and daily demand worth watching. Of course its best to combine PA with levels and not have preconceived notions too many steps in advance.
To what I see DXY will drop and hard. I might be wrong.
  • #618,750
  • Aug 23, 2021 1:23pm Aug 23, 2021 1:23pm
Quoting Pram808
{quote} Hi wolfram.. Honestly i don't have any idea obout those numbers on your pictures, but in my analysis i think Cable will go long on this week but tomorow will drop to make rectrace down maybe to HH 20 August jus't to retest OB
Hi, Pram808
This is chart type, order flow or better known as Footprint, showing volume traded on Bid/Ask on futures contract. Useful in many occasions.
For example in this case, price and delta (Ask-Bid) directions are expected to coincide. In a down move there are should be more volume traded on the Bid and negative Delta
Attached Image (click to enlarge)
Click to Enlarge Name: OFT.Platform_2021-08-23_14-24-29.png Size: 98 KB
Air force
  • #618,751
  • Edited 1:59pm Aug 23, 2021 1:29pm | Edited 1:59pm
Quoting Jolita
{quote} To what I see DXY will drop and hard. I might be wrong.
Will see tomorrow

Defo no rush
Attached Image (click to enlarge)
Click to Enlarge Name: gucable21.jpg Size: 70 KB
  • #618,752
  • Aug 23, 2021 1:35pm Aug 23, 2021 1:35pm
Quoting W0lfram
{quote} Hi, Pram808 This is chart type, order flow or better known as Footprint, showing volume traded on Bid/Ask on futures contract. Useful in many occasions. For example in this case, price and delta (Ask-Bid) directions are expected to coincide. In a down move there are should be more volume traded on the Bid and negative Delta{image}
Is that provided in mt4, or you use another platform, can you give me the resources to learn this thing thanks
Using Chaos to Finding Order
  • #618,753
  • Aug 23, 2021 1:46pm Aug 23, 2021 1:46pm
broke up again have to go with the flow ,1 2 3 , a leary
  • #618,754
  • Aug 23, 2021 1:49pm Aug 23, 2021 1:49pm
not anything can happen
they can't taper the program while inflation runs that hot ,if they do interest rates would spike up which they don't want... its all smoke and mirrors of 'no way' talking.
my guess is Powell would downplay or be an excuse maker as to when they change things
Also I would point to the last QE 3 which went on for over 100 weeks or 2 years when we stand at 77 weeks approx
the daily is bullish today ,what concerns me is it fell without going higher the other week technically .The best place to sell is near the recent swing highs
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2021-08-23 at 19.46.03.png Size: 137 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #618,755
  • Aug 23, 2021 2:20pm Aug 23, 2021 2:20pm
all aboard
  • #618,756
  • Aug 23, 2021 2:26pm Aug 23, 2021 2:26pm
My thought is that the price has recovered now almost to the 200 day moving average - we appear to me to be in a downtrend - when the price broke through the 200 day avr. , it seemed to trigger a significant amount of selling - traders are worried about the approach of the death cross (50 day avr.) . I think we will re-test the lows of July at least - i'll begin to fade this rally to build a short position at the 200 day moving avr.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 46 KB
  • #618,757
  • Aug 23, 2021 2:36pm Aug 23, 2021 2:36pm
Quoting Jolita
Here we go back up again! Nice feeling, would have been nice to see this move last Friday though. Well, last night was 50%/50% chance, now it looks we are streching towards 1.46. Anything can still happen as Jackson Hall meeting is approaching, can stear things around.
1.46??? Wow
  • #618,758
  • Aug 23, 2021 2:45pm Aug 23, 2021 2:45pm
Quoting W0lfram
Managed to create sub-acc for mid/long term trades so as not to touch them and train patience. Prices far below start to appear, as well as a month ago, so placed a stop loss in case this time it will be true. Trades from Friday{image}{image}{image}
Just can't, not my style of trading obviously. Out 1.3727, nice run in one day.
Air force
  • #618,759
  • Aug 23, 2021 2:46pm Aug 23, 2021 2:46pm
Love to see some retrace to give a good long entry
Insane in the Brain..
  • #618,760
  • Aug 23, 2021 2:54pm Aug 23, 2021 2:54pm
Mmmmm I got out of the long and int a sell but it’s messing around again 3740 was a bit of a nut pass that 3790
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