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Cable Update (GBPUSD)

  • #633,161
  • Oct 24, 2021 5:37am Oct 24, 2021 5:37am
Quoting donfriday
{quote} can you share a chart of your weekly support pls? checkout this illustration {image}
I can share my view about the DXY.
I have been wrong before. I may be wrong again.
Make your own conclusion.

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No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #633,162
  • Oct 24, 2021 5:50am Oct 24, 2021 5:50am
The short term direction for cable is up, but the monthly direction is down.
  • #633,163
  • Oct 24, 2021 6:16am Oct 24, 2021 6:16am
Quoting NotAtrader
{quote} I can share my view about the DXY. I have been wrong before. I may be wrong again. Make your own conclusion. {image}

Yes we can be wrong only market can be right,



take a look at area of value on your chart where price have been coming back to after a rise up.


the best of dollar is to find a liquidity of lower low then you know the pro like buying into DIP thats the liquidity
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MY OPINION NOT FINANCIAL ADVISE
  • #633,164
  • Oct 24, 2021 6:18am Oct 24, 2021 6:18am

  • #633,165
  • Oct 24, 2021 6:39am Oct 24, 2021 6:39am
Quoting NotAtrader
{quote} I can share my view about the DXY. I have been wrong before. I may be wrong again. Make your own conclusion. {image}

i said it before and again

sellers will start to attack GU from 138

my 2 scenario 1 is that we may see 136 and 13550 and go up or we may go 13850 and 140 then drop for good, the trend is not so clear now and i cant even say i am sure of anything..

2 is for me as it stand now if price should drop to 13600 and 13550 without going to 13850 and above first i would take it as a new wave started from 134, i will will take 134 as 0 and 13830 as wave 1 maybe 135 will give wave 2 but this are my view..
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MY OPINION NOT FINANCIAL ADVISE
  • #633,166
  • Edited 7:20am Oct 24, 2021 6:55am | Edited 7:20am
Quoting Nordling00
{quote} It really isn't lately. Well i have figured out why GBP and even AUD (RBA is dovish tho) is appreciating against USD but i can't see any reasons behind Euro's strength against USD on the daily chart. It's becoming too big to call just a pullback. I don't what to call it, and why this is happening. As far as i know, FED is in a point between being neutral and hawkish, but even that should be enough to beat a dovish ECB. Maybe this has something to do with supply chain crisis?
With the speed of previous weeks', this is not pull back. (EU)There are targets to eliminate. Roger that?
  • #633,167
  • Oct 24, 2021 7:05am Oct 24, 2021 7:05am
Quoting OnlineAddict
{quote} I see nothing bullish on this USD chart. Maybe a little up next week, before a bigger drop towards 92-92.50. Might be wrong, of course.{image}
Hi, 93.50 is a support. Zoom out a bit abd you will see what I mean.
  • #633,168
  • Oct 24, 2021 7:15am Oct 24, 2021 7:15am
Quoting Jolita
{quote} Hi, 93.50 is a support. Zoom out a bit abd you will see what I mean.
Exactly what you see on my chart;
https://www.forexfactory.com/thread/...2#post13757922
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #633,169
  • Oct 24, 2021 7:22am Oct 24, 2021 7:22am
Quoting donfriday
{quote} can you share a chart of your weekly support pls? checkout this illustration {image}
Don, I might be wrong, of course as anything could happen.
As I said this is only my view. The resistance become support and is very strong taking into account previous weeks.
Therefore a break out of 94 is more likely, as we are keep testing.
I dont do much charting, but trying to compare different views.

But here it is, few analysis.
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FX Street also bullish.

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  • #633,170
  • Oct 24, 2021 7:53am Oct 24, 2021 7:53am
My NEW MODIFIED simple and uncomplicated view...

As far as Price stays below 1.3830 between 28th October to 3rd November, 1.3150 will be seen as imminent by or before end of year 2021.

Only a break and close above 1.3830 between 1st November to 8th November will invalidate 1.3150.
Data + Stat + Risk/Emotions Management
  • #633,171
  • Oct 24, 2021 7:54am Oct 24, 2021 7:54am
Quoting Jolita
{quote} Don, I might be wrong, of course as anything could happen. As I said this is only my view. The resistance become support and is very strong taking into account previous weeks. Therefore a break out of 94 is more likely, as we are keep testing. I dont do much charting, but trying to compare different views. But here it is, few analysis.{image} FX Street also bullish. {image}{image}{image}

i agree we all can be wrong

just talking from market perspective on daily chart, everytime dollar make HH it fall within a day or 2 after the HH.

what does this mean to mean, buying pressure but discount is needed


i will stay careful with dollar as i have seen patterns like that play out many times ..soon or later it will sell off if a drop keep following every rise.


time we need
MY OPINION NOT FINANCIAL ADVISE
  • #633,172
  • Oct 24, 2021 8:01am Oct 24, 2021 8:01am
Quoting Jolita
{quote} Hi, 93.50 is a support. Zoom out a bit abd you will see what I mean.
Maybe on smaller time frames...but looking at the big picture...the weekly looks like it wants a big drop, after the few small ones.
Everyone can see the chart, but only a few can actually read it.
  • #633,173
  • Edited 8:29am Oct 24, 2021 8:08am | Edited 8:29am
Quoting OnlineAddict
{quote} Maybe on smaller time frames...but looking at the big picture...the weekly looks like it wants a big drop, after the few small ones.

But again if you look at the monthly view, looks the upper lever can easily fly to 95-96.
Next week will give us better view.

charts -
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  • #633,174
  • Oct 24, 2021 9:07am Oct 24, 2021 9:07am
If the 4HR Support holds, then it will be a continuation for the bulls to the top, about 146 pips away but I think they’ve spent so much time here... This Range May end up favoring the bears, which may push the price back down to the bottom. There is liquidity at both ends so price can go either ways... trade with Caution.

I’ll wait for price to touch the top or if it breaks the 4HR Support I’ll go short.
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My telegram: https://t.me/avidforex
  • #633,175
  • Oct 24, 2021 9:41am Oct 24, 2021 9:41am
The monthly dictates direction and in my opinion it has to move downwards in a self correcting fashion over time.
  • #633,176
  • Oct 24, 2021 9:55am Oct 24, 2021 9:55am

  • #633,177
  • Oct 24, 2021 10:00am Oct 24, 2021 10:00am
As one can see from the dinosaur. The drop from the head down to the bottom of the neck is quite considerable.
  • #633,178
  • Oct 24, 2021 10:13am Oct 24, 2021 10:13am
Quoting mysterio
{quote} I set my stops to BE Weds high is my target Initial SL 3 pips {image}
how did you did that? why you opened there and why 3pips stop loss? was there any specific level?
  • #633,179
  • Oct 24, 2021 10:28am Oct 24, 2021 10:28am
Quoting Ihlas
Attached Image
Intraday Trading is an Art _ hoda
  • #633,180
  • Oct 24, 2021 10:30am Oct 24, 2021 10:30am
Quoting genadi
{quote} how did you did that? why you opened there and why 3pips stop loss? was there any specific level?
We were down there to mitigate trapped sellers from earlier and grab liquidity

I always do 3 pips SL now to get good RR using volume/footprint analysis. 30 pips gave me a 10R trade.

I mentioned earlier I was waiting for a break below a specific level. Once the drop happened I waited for PA to stall and reverse and for buyers to enter the market on footprint. We were in an h1 RBR demand zone and a buying zone.
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