Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#647,541
Jan 7, 2022 12:20pm Jan 7, 2022 12:20pm

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

this weekly trend is very unfortunate for the bears ,who keep doubling down on that view

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On-site guru & also FF member's' psychiatrist, when not drinking tea

#647,542
Jan 7, 2022 12:22pm Jan 7, 2022 12:22pm

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

now short for 20-33 pips
the mf did reached weekly r1

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yes yes yes

#647,543
Jan 7, 2022 12:51pm Jan 7, 2022 12:51pm

2teamtrader
| Joined Sep 2021 | Status: Trader | 38 Posts

The final chart of the week- the exit at + 29 pips.
Stay safe.
2TT

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#647,544
Jan 7, 2022 1:38pm Jan 7, 2022 1:38pm

buddha-
| Membership Revoked | Joined Feb 2019 | 1,453 Posts

🥲

#647,545
Jan 7, 2022 1:55pm Jan 7, 2022 1:55pm

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

From here, prices are overstretched, could retrace down from 3592

COT: The precious data ignored

#647,546
Edited 3:20pm Jan 7, 2022 2:11pm | Edited 3:20pm

Jolita
Joined Jan 2012 | Status: Always Decisive | 4,425 Posts

What a day / week ... GU nearly reached upper descending channel.
Next week would be nice to change the scenario to the short, but no one knows right, with the current situation.

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#647,547
Jan 7, 2022 2:21pm Jan 7, 2022 2:21pm

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

after the gap close in the dx , the gu will drop hard
i am staying with my shorts

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yes yes yes

#647,548
Jan 7, 2022 2:32pm Jan 7, 2022 2:32pm

Mitiblotch
Joined Sep 2017 | Status: Trader | 11,251 Posts

Made good money from longs yesterday and today. Now short 3594 for fun. I just want 10 pips and will TP at 3584. Excellent week.

#647,549
Jan 7, 2022 2:50pm Jan 7, 2022 2:50pm

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

From the current COT report, Assets managers are liquidating their massive short, from 40% to 25% short now.
They are still very loaded, which could mean more pain for bears.....

I'm still inclined on buying dips (ideally below 3460/80)

COT: The precious data ignored

#647,550
Jan 7, 2022 2:52pm Jan 7, 2022 2:52pm

Mitiblotch
Joined Sep 2017 | Status: Trader | 11,251 Posts

Quoting kuroro001

Disliked

From the current COT report, Assets managers are liquidating their massive short, from 40% to 25% short now. They are still very loaded, which could mean more pain for bears..... I'm still inclined on buying dips (ideally below 3460/80)

Ignored

To get below 3460 will be a tough ask. My two figs.

#647,551
Jan 7, 2022 2:55pm Jan 7, 2022 2:55pm

buddha-
| Membership Revoked | Joined Feb 2019 | 1,453 Posts

#647,552
Jan 7, 2022 2:55pm Jan 7, 2022 2:55pm

donfriday
Joined Jan 2009 | Status: bye FF | 8,806 Posts

if ucad and gbp correlation work then ucad should drop 150 pips that could take gu toward 1.37 to 1.38

trading with caution

have a lovely weekend...

MY OPINION NOT FINANCIAL ADVISE

#647,553
Jan 7, 2022 2:57pm Jan 7, 2022 2:57pm

taomql4
Joined Dec 2008 | Status: Resident Psychiatrist!!! | 2,600 Posts

Quoting taomql4

Disliked

looking to buy back at demand .. Hopefully , it falls to the bottom demand level {image}

Ignored

Noooow , I look like a Genius lol

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#647,554
Jan 7, 2022 3:06pm Jan 7, 2022 3:06pm

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

Quoting Mitiblotch

Disliked

{quote} To get below 3460 will be a tough ask. My two figs.

Ignored

Positions are very loaded from dealers are Assets managers, volatility could come big time, both ways

COT: The precious data ignored

#647,555
Jan 7, 2022 3:08pm Jan 7, 2022 3:08pm

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

Quoting donfriday

Disliked

if ucad and gbp correlation work then ucad should drop 150 pips that could take gu toward 1.37 to 1.38 trading with caution have a lovely weekend...

Ignored

Totally, you don't want to be long USDCAD

CAD dumb money went crazy on the short side

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