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Cable Update - Continued 105 replies

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Cable Update (GBPUSD)

every thing is going down
Quoting kuroro001
a bullish dollar close would be such an ugly trap for bears
Explain
The market has short memory
For now there's a little bit falling for pound. But indeed bullish movement is still. I do not see the prerequisites for the fact that in the near future there will be a fall.
cheeky long here at market price (1.203913)
Spike LeE, take it away
Quoting Wavegarrick
{quote} We are just 18 pips or so off 1.21500, so should definitely be achieved. My 50% Fib retrace at 1.23048 of the 2 year high to low a nice short term target. A weekly close above 1.20000 good news for Bulls, Trade safe. {image}
Hi Folks,
My weekly pivot at 1.20054 (yellow highlight - daily chart) coming up with lots of support at 1.956 if there is an overshoot. I will look to add buy trades from here.
Have a great week,
Cheers.
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Trade to trade another day
Quoting Whale
{quote} Explain
I mean daily bullish close

Or daily bearish EURUSD. Daily range went 150+....if price close negative it would be such a great trap for buyers looking for 1.05+ today


+ VIX getting ready to stage a year end risk off...watch out here
COT: The precious data ignored
Currently long will go short at 1.20500
Short Cable
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!! Radha Radha !!
Quoting bilal1947
Anticipating a down weekly Dummy candle towards 1.1825 {image}
Weekly dummy candle in the formation:
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"Exchange of hands"
Quoting DubaiFX
{quote} look at USDX and you will see the Sentiment is not Down t may very well test 1.2005 soon. just my 2 Cents. Cheers mate
as i said Pound was looking at 1.2005 bt i closed at 1.2030 and will see tomorrow how it goes
good night Guys 60 pips was enough for me..
Don't compare your Trades with Others
Gold long at 1742
Quoting bilal1947
{quote} Weekly dummy candle in the formation: {image}
11825 would be quite a feat for GU to drop to. Let’s see as never say never. And tell you truth a drop to that level would make a great area to go full on long with
Insane in the Brain..
cable has crossed the daily pivot range, so be careful with shorts now

i completed my 14% for today
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gold@rajan All Time Return: 13.4%
let us see if price bounces at this support
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gold@rajan All Time Return: 13.4%
Quoting ICouldBWrong
Dxy currently testing last months lows and getting a little bounce. Let's see if it holds. This area also corresponds to 200 MA on daily and potential previous resistance turned support. Super important area right here. {image} {image} {image}
Yep yep true dat. Everything that guy just said. Nice little bull rally for the dollar. Now if we can get above the recent swing high printed early in the trading session, dxy might be looking pretty bullish with a potential double bottom. Stumble here and we might be looking at some range trading for a bit.

Interesting side note, U/J also showing a similar pattern to the dollar with potentially forming a double bottom along long term trendline area. Although, I wouldn't be surprised to see the correlation between dxy and u/j become decoupled at some point, or at least less strongly correlated.
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Quoting PatienceFx
let us see if price bounces at this support {image}
it will be a minor bounce i think
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gold@rajan All Time Return: 13.4%
Quoting PatienceFx
{quote} it will be a minor bounce i think {image}
trailing sl in place
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gold@rajan All Time Return: 13.4%
Quoting PatienceFx
{quote} it will be a minor bounce i think {image}
Could be the usual change of direction when london closes
Insane in the Brain..
Quoting BeeTogether
{quote} Could be the usual change of direction when london closes
clear macd divergence, yet i got that tiny bounce
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gold@rajan All Time Return: 13.4%
Closing some dollar long pairs for now. Dxy looking like it might be ready to take a break. Will look to potentially re-enter if dxy can either get back above recent swing high area, consolidates and then starts moving back up, or goes back to re-test bottom area.
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