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Cable Update (GBPUSD)

  • #627,701
  • Oct 3, 2021 4:20am Oct 3, 2021 4:20am
Quoting kris89
Hi everybody. Last friday we have a great Correction . But after see it. Maybe correction need more higher a bit to get biggest sell .
A correction to 135 maybe enough imo
Insane in the Brain..
  • #627,702
  • Oct 3, 2021 4:20am Oct 3, 2021 4:20am
Quoting nAVIN2007
{quote} the last candle is above the blue line I feel this will make the difference..Price is testing the high of the previous year high (2019) I would think this is the range bottom..if 1.34 goes id agree but it is not clear cut, it will sink according to me, may break 1.34 to lead to 1.31 1.31, id buy at this point..this the problem looking at yearly charts ...not the best trade opportunity this is quarterly chart...1.34 is line in the sand (im a bull) {image}
Kinda bullish dragon in action. Any bearish pattern is longterm bullish setup in my side .

#imho
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not euphoria follower
  • #627,703
  • Oct 3, 2021 4:44am Oct 3, 2021 4:44am
Quoting BeeTogether
{quote} A correction to 135 maybe enough imo
There is a previous support sone 1.3600 - 1.3650 (now resistance sone) which needs to be retested before resuming downfall.
I am not saying it wil happen, but there is a chance we can see such development.

EDIT: It is sentimentality supported as well, as there are building talk about rate hikes.
https://www.dailyfx.com/forex/fundam...ate-Hikes.html
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #627,704
  • Oct 3, 2021 5:58am Oct 3, 2021 5:58am
Scaremongering about UK crisis is just not fine. We have petrol available at pumps. But the reality is short of drivers is everywhere in Europe and US has its own bigger issues to solve unlike UK, where these are really small things to sort.
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  • #627,705
  • Edited 7:04am Oct 3, 2021 6:32am | Edited 7:04am
Typical, when majority will swich to sell GBP, pound will gain its strength and vice versa. More news has been released about interest rate hike, which will create gossip and increase rates on every talk.

In my view we will be in a range between 1.38 - 1.35 for the rest of the year, I will trade safe - in and out, no long term trading for me this year. Learned my lesson , markets are uncertain atm.

Here is some forcast to read showing bearish price in Nov/Dec -

https://gbprate.uk/forex/gbpusd/
  • #627,706
  • Oct 3, 2021 7:09am Oct 3, 2021 7:09am
Quoting donfriday
{quote} i am doing btccash long term {image}
Don, BTC cash looks promising.
Look at these top coins

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  • #627,707
  • Oct 3, 2021 7:11am Oct 3, 2021 7:11am
Quoting Jolita
Typical, when majority will swich to sell GBP, pound will gain its strength and vice versa. More news has been released about interest rate hike, which will create gossip and increase rates on every talk. In my view we will be in a range between 1.38 - 1.35 for the rest of the year, I will trade safe - in and out, no long term trading for me this year. Learned my lesson , markets are uncertain atm. Here is some forcast to read showing bearish price in Nov/Dec - https://gbprate.uk/forex/gbpusd/

300pips in 60days....?

that will be tough to trade

meaning we lost daily and weekly ATR

in the act of yearly profit taking toward mid week of December u should expect abnormal volatility

i am still here for another monthly bearish candle, 60days is still a long way
MY OPINION NOT FINANCIAL ADVISE
  • #627,708
  • Oct 3, 2021 9:01am Oct 3, 2021 9:01am
Quoting donfriday
{quote} 300pips in 60days....? that will be tough to trade meaning we lost daily and weekly ATR in the act of yearly profit taking toward mid week of December u should expect abnormal volatility i am still here for another monthly bearish candle, 60days is still a long way
If care is not taken a lot of traders will burn their accounts. Nothing beats research, flexibility and anticipation in all sense of it. I totally agree with you that abnormal Volatility will happen these last trading days of 2021.
Data + Stat + Risk/Emotions Management
  • #627,709
  • Oct 3, 2021 9:13am Oct 3, 2021 9:13am
Quoting trumps
{quote} Hi Nav, yes I see the TL is broken, that's why I'm wondering if price will retest it. When a TL is broken, the next candle often comes back to retest the broken line before continuing in the breakout direction. Anyway, will see how she goes. Thx mate, hope you are doing well brother.

message sent...lets get lucky
  • #627,710
  • Edited 10:08am Oct 3, 2021 9:49am | Edited 10:08am
Quoting donfriday
{quote} 300pips in 60days....? that will be tough to trade meaning we lost daily and weekly ATR in the act of yearly profit taking toward mid week of December u should expect abnormal volatility i am still here for another monthly bearish candle, 60days is still a long way
Still 3 months to trade, last weeks in December will be quiet due to holiday season.
By ranging I meant we could go either way, 300 pips is nothing, Pound moves 100 pips a day or more.
Dont know why you are surpriced.

I'm still bullish, we will reach 1.45 some time, but 1.29 is not out of the picture eighter. Anything is possible, depending on many factors. Bulls fighting Bears, so far - equal powers. Will see what factors will influence one to win.
  • #627,711
  • Oct 3, 2021 9:56am Oct 3, 2021 9:56am
I wonder what Tony's view is?
  • #627,712
  • Oct 3, 2021 9:58am Oct 3, 2021 9:58am
Quoting nAVIN2007
I wonder what Tony's view is?
Who is Tony?
  • #627,713
  • Oct 3, 2021 11:01am Oct 3, 2021 11:01am
Something like this tomorrow ?

I'm looking for 1.32814 ultimately

This will bring us to weekly demand which will see buyers step in and create a reversal, likely
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  • #627,714
  • Oct 3, 2021 11:02am Oct 3, 2021 11:02am
Quoting Jolita
{quote} Who is Tony?

Bones..
  • #627,715
  • Oct 3, 2021 11:38am Oct 3, 2021 11:38am
Quoting nAVIN2007
{quote} message sent...lets get lucky
Thx very much Nav, have a great week mate
Compulsions can be hard to resist
  • #627,716
  • Oct 3, 2021 11:59am Oct 3, 2021 11:59am
Quoting nAVIN2007
{quote} Bones..
Ok Thanks.

Navin, I am trying to work on my new chart set up. Far too many indicators available. Which once you rely the most? Any you would recommend?
  • #627,717
  • Oct 3, 2021 12:02pm Oct 3, 2021 12:02pm
Quoting Jolita
{quote} Still 3 months to trade, last weeks in December will be quiet due to holiday season. By ranging I meant we could go either way, 300 pips is nothing, Pound moves 100 pips a day or more. Dont know why you are surpriced. I'm still bullish, we will reach 1.45 some time, but 1.29 is not out of the picture eighter. Anything is possible, depending on many factors. Bulls fighting Bears, so far - equal powers. Will see what factors will influence one to win.


nothing surprises me in a trading,



i am just curious to even post any view since i am still learning

i am always expecting something and they dont always come as plan. i leave the direction for the Guru's
MY OPINION NOT FINANCIAL ADVISE
  • #627,718
  • Oct 3, 2021 12:12pm Oct 3, 2021 12:12pm
Quoting Georginson
{quote} If care is not taken a lot of traders will burn their accounts. Nothing beats research, flexibility and anticipation in all sense of it. I totally agree with you that abnormal Volatility will happen these last trading days of 2021.

bro haven't we seen enough to know a few things?

we all know yearly profit taking is around the corner and since most smart money was bearish since they will soon take off some money from 2021 and reenter the short from top ..

maybe 134 and 132 is the low for this year, i am just wondering but using fibo help me sometime to see where next entry could be.
MY OPINION NOT FINANCIAL ADVISE
  • #627,719
  • Oct 3, 2021 12:18pm Oct 3, 2021 12:18pm
Quoting donfriday
{quote} nothing surprises me in a trading, i am just curious to even post any view since i am still learning i am always expecting something andp

they dont always come as plan. i leave the direction for the Guru's
You are one of them, don't t undervalue your self. Trading not simple, lots of traders planned we will sink months ago, still not hapenned...not sure if we still go down. Possible reversal???
Who knows, right!? Lets trade what we see.
I am flexible now, since I closed my long trades chickened out....
Felt weird to sell on Friday, but hey worked well.
Can't wait to see where we will go next week Don. Good trades to you
  • #627,720
  • Edited 12:48pm Oct 3, 2021 12:25pm | Edited 12:48pm
here is a piece of cake from my little knowledge

the green show a possible level to buy
red show the possible level to sell

all this are base on swing position 3-6 months view
on the weekly i dont know when but next year will tell..
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MY OPINION NOT FINANCIAL ADVISE
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