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Cable Update (GBPUSD)

  • #709,221
  • Nov 24, 2022 12:49pm Nov 24, 2022 12:49pm
Below 2090 would or could be a game changer
  • #709,222
  • Nov 24, 2022 1:07pm Nov 24, 2022 1:07pm
Markets are open tomorrow?
  • #709,223
  • Nov 24, 2022 1:09pm Nov 24, 2022 1:09pm
Quoting Whale
Markets are open tomorrow?
US market is open, not sure how active it will be.
  • #709,224
  • Edited 1:33pm Nov 24, 2022 1:12pm | Edited 1:33pm
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File Type: ex4 AusDoc-MurreyMathLinesATF-v1.ex4   20 KB | 230 downloads
Attached File(s)
File Type: ex4 AusDoc-MurreyMathLines-v1G.ex4   27 KB | 252 downloads

Attached File(s)
File Type: mq4 Pivot_Voty.mq4   36 KB | 283 downloads
  • #709,225
  • Nov 24, 2022 1:57pm Nov 24, 2022 1:57pm
Quoting Bcn123
Hi guys, New trader here. I appreciate this forum is more trading than speculating but I wanted to ask you guys as you're forex experts. Do you think the USD is now on a long-term downtrend? I need to transfer a large amount of USD to GBP, between now and mid-2024, and wondering if I should start doing it now or wait for a potential rebound next year. Thanks in advance!
I'm no expert, but if you take USDX as indicative of the dollar, then no, it is not in a long-term downtrend, because you can see clearly the the 6- and 12-Month charts are in up swings. The 1-Month has made a 3-bar swing high, so a pullback is underway. Timeframes this large often make 50% retracements, which is to about 100 where there is a zone of previous highs. So over the coming months, it is likely to hit that area and then head back up.

On the Weekly, it is likely now at a support zone, so it would not be a surprise to see it bounce up from there. And unless it breaks normal cycling, it will be going up to achieve a better rate to drop from, not going up to continue the up trend.
To free Gazans of Hamas, use whatever it takes.
  • #709,226
  • Nov 24, 2022 1:58pm Nov 24, 2022 1:58pm
Quoting dantpm
{quote} US market is open, not sure how active it will be.
If anything like last year, very active.
  • #709,227
  • Nov 24, 2022 2:08pm Nov 24, 2022 2:08pm
Quoting DrDave
{quote} I'm no expert, but if you take USDX as indicative of the dollar, then no, it is not in a long-term downtrend, because you can see clearly the the 6- and 12-Month charts are in up swings. The 1-Month has made a 3-bar swing high, so a pullback is underway. Timeframes this large often make 50% retracements, which is to about 100 where there is a zone of previous highs. So over the coming months, it is likely to hit that area and then head back up. On the Weekly, it is likely now at a support zone, so it would not be a surprise to see it bounce...

Thanks so much for your detailed response. So in your view it's not unreasonable to suggest that the USD to GBP could rebound to 0.90, or perhaps even higher, by end of this year/start of next year?

It's interesting because just 6-8 weeks ago the media was full of 'analysts' talking about how GBP and USD hitting parity by Christmas was inevitable, and now all this talk has gone away. How quickly sentiment changes!

Thanks again. Much appreciated.
  • #709,228
  • Nov 24, 2022 3:05pm Nov 24, 2022 3:05pm
120 dot 5 nice area
  • #709,229
  • Edited 3:47pm Nov 24, 2022 3:26pm | Edited 3:47pm
Quoting ICouldBWrong
Not sure if anyone else remembers, but last Thanksgiving the forex markets were quite busy. JPY and CHF, in particular had huge run ups that day. Dollar had a pretty good sell off as well. As soon as the Asian markets opened Thanksgiving evening, the markets went nuts. Basically all the commodity or 'risk on' pairs sold off hard. Just take a look at any xxx/JPY or xxx/CHF chart. The largest candle you'll see for 2021 was probably on Thanksgiving. Obviously that doesn't mean it's going to happen again this year, but definitely don't assume it's going...
Will see how Asia market will trade tonight. But yes, dollar possibly might be bought.

Had a dream last night of a big sell off. Lets hope so.

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  • #709,230
  • Nov 24, 2022 4:02pm Nov 24, 2022 4:02pm
short 225
  • #709,231
  • Nov 24, 2022 4:05pm Nov 24, 2022 4:05pm
Quoting elbert3
Below 2090 would or could be a game changer
As above come on
  • #709,232
  • Nov 24, 2022 4:20pm Nov 24, 2022 4:20pm
i have time until Wednesday to improve my system
first step , moving to 15m chart
second step wideing the bb stop from 10. 2 into 20,1 parameters
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yes yes yes
  • #709,233
  • Nov 24, 2022 4:29pm Nov 24, 2022 4:29pm
Current Rate : 1.20193

I am still thinking of trading today , there are couple of support and resistance marked on my chart , waiting for primary indication to provide "Long" or "Short" situation . It looks to be Bullish pressure continuing . However, i am FLAT.

-Bella's Blue

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Goddess of Thunder..
  • #709,234
  • Nov 24, 2022 5:36pm Nov 24, 2022 5:36pm
Quoting Moty
i have time until Wednesday to improve my system first step , moving to 15m chart second step wideing the bb stop from 10. 2 into 20,1 parameters {image}
Hi Moty..

Can you share the same method on H4?
Wondering what will be the outcome...
Peace Yo!
  • #709,235
  • Nov 24, 2022 5:51pm Nov 24, 2022 5:51pm
Quoting Bella.al
Current Rate : 1.20193 I am still thinking of trading today , there are couple of support and resistance marked on my chart , waiting for primary indication to provide "Long" or "Short" situation . It looks to be Bullish pressure continuing . However, i am FLAT. -Bella's Blue {image}
Current Rate : 1.21148

Long GBP/USD : 1.21151
S/L : 1.20906
Objective : 1.24035

"Bella's Support : 1.20951"

One last trade for the week....

-Bella's Blue
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Goddess of Thunder..
  • #709,236
  • Nov 24, 2022 6:02pm Nov 24, 2022 6:02pm
Quoting mrluckystar
{quote} Hi Moty. Can you share the same method on H4? Wondering what will be the outcome...
Indicator works on all time frames. Few settings to work with. It's about range of up and down that you will accept, time frame that you prefer and so on. I use the same approach and watch multiple time frames, using various time frames of indications of what you should be in and others as triggers about when to get in and when to get out.
The indicator is on tradingview.
  • #709,237
  • Nov 24, 2022 6:11pm Nov 24, 2022 6:11pm
Quoting dantpm
{quote} Indicator works on all time frames. Few settings to work with. It's about range of up and down that you will accept, time frame that you prefer and so on. I use the same approach and watch multiple time frames, using various time frames of indications of what you should be in and others as triggers about when to get in and when to get out. The indicator is on tradingview.
I'm asking him so that he should always check higher TF before taking any trades .
Peace Yo!
  • #709,238
  • Nov 24, 2022 6:12pm Nov 24, 2022 6:12pm
Quoting mrluckystar
{quote} I'm asking him so that he should always check higher TF before taking any trades .
The other detail is to only take trades in the direction of the trend. I find this helps with the yield.
  • #709,239
  • Nov 24, 2022 6:42pm Nov 24, 2022 6:42pm
The price bearish open...

Likely to fall more first.

Below 2090
Intraday only.
  • #709,240
  • Nov 24, 2022 6:54pm Nov 24, 2022 6:54pm
GJ & UJ today..
Peace Yo!
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