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Cable Update (GBPUSD)

  • #649,101
  • Jan 22, 2022 5:26am Jan 22, 2022 5:26am
lest see about the fed next week
you can't trust anything they said ,
I only say this with their ugly track record, professional liars
secret mandate attached
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #649,102
  • Edited 9:34am Jan 22, 2022 5:53am | Edited 9:34am
Now I have this...going into next week. Something interesting.

Weekly chart vs Daily chart.

Consistent reversal candlestick patterns on the upper trendline (weekly chart). Strong Fib levels. 0.382 as support and 0.236. as resistance (although broken but price retraced). Price bouncing off them. Likely to retrace back to the 0.382 fib level??

Currently hovering around a support zone 1.35580 - 1.35250

Momentum and volatility no doubt is high as channel expands.

Next level of support (Targets) i see are 1.3460 - 1.3408

Head & Shoulder pattern (weekly) indicated reversal. Price likely to break above 0.236 fib and head back to 0.11fib level?? Unlikely.

Daily chart looks more promising and that the target zone levels will likely be breached in the short term.

Happy Weekend
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #649,103
  • Jan 22, 2022 6:50am Jan 22, 2022 6:50am
SMART MONEY have INCREASED so MUCH their LONG positions on GBP during past 4 weeks....TREND is LONG, pay attention with SHORT TRADES
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  • #649,104
  • Edited 8:44am Jan 22, 2022 7:45am | Edited 8:44am
I think it can take support maybe next candle ,lots of retail in this following some model
the high looks very firm

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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #649,105
  • Jan 22, 2022 8:21am Jan 22, 2022 8:21am
Quoting Georginson
{quote} I will suggest you let weekly candle close below 1.3528 before taking that short... Last year December 21 trapped lots of bears around 1.32 and by December 31 price flew to 1.3550. You may check January 18, 2021 for some clue. Next Week we will see either 1.3450 or 1.3700. I can't give a definite call for now as the year is just spacing.
Exactly. Can even touch 3416 area if short is the call. And the chances are increased because 3416 is the pivot for January. It may hit it or come near it.
  • #649,106
  • Jan 22, 2022 8:51am Jan 22, 2022 8:51am
usdx weekly , next weekly can be any candle , before try burst up!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #649,107
  • Jan 22, 2022 9:05am Jan 22, 2022 9:05am
Quoting Bones
I think it can take support maybe next candle ,lots of retail in this following some model the high looks very firm {image} {image}
Bitcoin can see 100k $ mark one day but not in 2022, and also probably not in 2023. Biggest economies in the world have started to take actions against high inflation, contraction cycle has started. We will see stocks, cryptos, real estate etc. go down.

I have sold all my cryptos when FED first started to taper in November. Bitcoin was 62k that day. Then it went up to 68k and made a top and it's been falling since that day.
You have to have an IQ higher than 90 to interact with this user.
  • #649,108
  • Jan 22, 2022 9:08am Jan 22, 2022 9:08am
Quoting helioss
SMART MONEY have INCREASED so MUCH their LONG positions on GBP during past 4 weeks....TREND is LONG, pay attention with SHORT TRADES {image}
They are actually increasing their short side (overall net position getting closer to 0)

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COT: The precious data ignored
  • #649,109
  • Jan 22, 2022 9:26am Jan 22, 2022 9:26am
Quoting kuroro001
{quote} They are actually increasing their short side (overall net position getting closer to 0) {image}
You are totally wrong....SMARTMONEY are increasing LONG position & closing SHORT
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  • #649,110
  • Jan 22, 2022 9:26am Jan 22, 2022 9:26am
Quoting Nordling00
{quote} Bitcoin can see 100k $ mark one day but not in 2022, and also probably not in 2023. Biggest economies in the world have started to take actions against high inflation, contraction cycle has started. We will see stocks, cryptos, real estate etc. go down. I have sold all my cryptos when FED first started to taper in November. Bitcoin was 62k that day. Then it went up to 68k and made a top and it's been falling since that day.
I'm sure you can imagine I like bitcoin ,
but then I dislike the users ,the new blood who believe they reinvent the wheel
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #649,111
  • Jan 22, 2022 9:28am Jan 22, 2022 9:28am
Quoting helioss
{quote} You are totally wrong....SMARTMONEY are increasing LONG position & closing SHORT {image}
lol
COT: The precious data ignored
  • #649,112
  • Jan 22, 2022 10:28am Jan 22, 2022 10:28am
The price is touching an H4 support point, but at the moment it is inside an M15 bearish channel. For now the risk is high to trade, let's see where the price opens next week.

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Together we can be strongest
Vantage Return This Month: na
  • #649,113
  • Jan 22, 2022 12:37pm Jan 22, 2022 12:37pm
Quoting Bones
{quote} I'm sure you can imagine I like bitcoin , but then I dislike the users ,the new blood who believe they reinvent the wheel {image} {image}
this is looking dangerously bearish..I never traded it but want to

not sure leverage wise how it working

like u cant trade 0.01 ..lol
  • #649,114
  • Jan 22, 2022 1:07pm Jan 22, 2022 1:07pm
Quoting nAVIN2007
{quote} this is looking dangerously bearish..I never traded it but want to not sure leverage wise how it working like u cant trade 0.01 ..lol
hi Nav ,they banned it in the uk for retail
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #649,115
  • Edited 2:53pm Jan 22, 2022 1:32pm | Edited 2:53pm
Hey cable update hope you're enjoying your weekends

For GU I expect us to be bullish going into next week. We're on daily demand and approaching the highest volume nodes from the recent uptrend around 1.3530-40. I expect these prices to be touched then rally hard. IF those levels break, then it's an all out bear party so watch the price action carefully. Theres a reasonable chance the daily demand will be cleared because of the basing above the zone before the drive down (attached). In terms of futures volumes, the delta has been positive for a while during the end of last week indicating an accumulation of longs below the lows of the 11th and 18th of Jan. This is real volume no tick volume BS. CFTC report confirms this addition of longs and removal of shorts by the banks.

DXY is in retest mode after the recent range breakout and we're currently retesting the daily supply. So I expect this to form a downtrend on the hourly charts after we've taken out the tested h4 demand zone. So this equates to bullishness on GU.

From a daytrading perspective I outline a potential trading scenario. We have compression on hourly and would be good to see a final drive down for liquidity.

Thats it--happy trading everyone
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  • #649,116
  • Jan 22, 2022 1:32pm Jan 22, 2022 1:32pm
Quoting helioss
{quote} You are totally wrong....SMARTMONEY are increasing LONG position & closing SHORT {image}
Looking at your charts, both Long and Short positions are equal to 40000.
This last data was produced on 11th of Jan, it is a history now. Due to high volatility you can only use this on the day is produced, which is next Tuesday.
  • #649,117
  • Jan 22, 2022 1:44pm Jan 22, 2022 1:44pm
Quoting Jolita
{quote} Looking at your charts, both Long and Short positions are equal to 40000. This last data was produced on 11th of Jan, it is a history now. Due to high volatility you can only use this on the day is produced, which is next Tuesday.
I think its the change in positions thats critical not the absolute number

I attached the futures volumes on my last post-- can see that the delta is green and longs are being added at the end of last week

Although some of this might be sell stops below the swing lows of 18th/11th. I think passive sellers appear on the ask side on futures vol, someone can correct me on this if i'm wrong.

W0lfram is the volume pro maybe he can chime in
  • #649,118
  • Jan 22, 2022 2:07pm Jan 22, 2022 2:07pm
Quoting Jolita
{quote} Looking at your charts, both Long and Short positions are equal to 40000. This last data was produced on 11th of Jan, it is a history now. Due to high volatility you can only use this on the day is produced, which is next Tuesday.
+ he talks about SMART MONEY showing charts of Non-commercials

Non-commercials are NOT smart money, they are the opposite...

But we all learn
COT: The precious data ignored
  • #649,119
  • Jan 22, 2022 2:08pm Jan 22, 2022 2:08pm
Quoting kuroro001
{quote} lol
it is amazing, isn't it?

smart money is closing their shorts at higher prices and opening longs instead! this sounds like a very smart losing?
Maadik Hugiis. IQ 69.
  • #649,120
  • Jan 22, 2022 2:34pm Jan 22, 2022 2:34pm
Quoting Bones
{quote} I'm sure you can imagine I like bitcoin , but then I dislike the users ,the new blood who believe they reinvent the wheel {image} {image}
For the first time I agree with you. Most of my friends are so excited about cryptos that they think Bitcoin will even replace national currencies etc. Which is impossible.

Of course crypto is more efficient when it comes to transferring money, avoiding taxes etc. but it can't replace the local currencies. You can replace them, but it wouldn't be efficient. You would lose all your control over your economy. It would basically mean going back to the times when people used precious metals for exchange.

I think crypto is a wonderful inflation hedge, therefore we should only invest in it if we are expecting inflation to go up.

Now that inflation has peaked and it will start to go down in 2022 and 2023, cryptos will stay bearish or at least quiet. When the world's biggest economies start to the expansion cycle again, then we can go back to cryptos, real estate and the stock market etc.
You have to have an IQ higher than 90 to interact with this user.
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