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Cable Update (GBPUSD)

  • #735,801
  • Mar 13, 2023 8:07am Mar 13, 2023 8:07am
Quoting Waveskierrob
{quote} That's great but why do you think so ...thanks
I believe 3 banks in the US collapsed last week and over the weekend (I think 3). Podcasts I listen to such as Peter Schiff and Wealthion, are all saying that the Fed can either return to QE and cut interest rates to save the banks and stop the contagion from spread (or try), or continue with rate hikes and allow the banks to collapse but cause an economic collapse.
  • #735,802
  • Mar 13, 2023 8:19am Mar 13, 2023 8:19am
Attached Image (click to enlarge)
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yes yes yes
  • #735,803
  • Mar 13, 2023 8:22am Mar 13, 2023 8:22am
gbpusd update2
what we can see now (technically)
Attached Image (click to enlarge)
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Trendlines H1,H4, SMC
  • #735,804
  • Mar 13, 2023 8:31am Mar 13, 2023 8:31am
Nice drop
Attached Image (click to enlarge)
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yes yes yes
  • #735,805
  • Mar 13, 2023 8:32am Mar 13, 2023 8:32am
DX
not so good for buyers usd, if we are below R
if we cross the blue line - the usd will free fall
Attached Image (click to enlarge)
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Trendlines H1,H4, SMC
  • #735,806
  • Mar 13, 2023 8:35am Mar 13, 2023 8:35am
Quoting josip
DX not so good for buyers usd, if we are below R if we cross the blue line - the usd will free fall {image}
Quite similar
Attached Image (click to enlarge)
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  • #735,807
  • Mar 13, 2023 8:59am Mar 13, 2023 8:59am
Quoting Waveskierrob
{quote} That's great but why do you think so ...thanks
I dunno about BN's strategy but I have similar logic with a user named Teek which is:
Follow the 21EMA on daily in order to determine the overall trend in the coming days/weeks.
Since it didn't close last Friday around or below 1.2005, and the current sentiment is bullish, then that's what I need to execute my trades on.
I have a pending buy order around 1.2007 - 1.2016. If today's close is around 1.2016, then I will consider holding longs.
Let's see what happens.
Lost....
  • #735,808
  • Edited 9:12am Mar 13, 2023 9:01am | Edited 9:12am
Going to ride this long trades till I see otherwise. Hoping to see 12150 either today or tomorrow where I might TP unless the thrust towards it is strong enough to take out 122.

although 121 is tough resistance at the moment

edit Added SL at 12090 whilst I drive back
Insane in the Brain..
  • #735,809
  • Mar 13, 2023 9:31am Mar 13, 2023 9:31am
Once 1.2090 breaks then more downside. In that case 1.2071 - 1.2085 - 1.2091 will act as resistance.
  • #735,810
  • Mar 13, 2023 9:36am Mar 13, 2023 9:36am
Once again reach 1.21370, I short it
  • #735,811
  • Mar 13, 2023 9:37am Mar 13, 2023 9:37am
Quoting Waveskierrob
{quote} That's great but why do you think so ...thanks
Please look up previous chart I’ve explained the reasons while answering @dempire1
My telegram: https://t.me/avidforex
  • #735,812
  • Mar 13, 2023 9:49am Mar 13, 2023 9:49am
Sold 1.2150... target 1.2100...
Data + Stat + Risk/Emotions Management
  • #735,813
  • Mar 13, 2023 9:52am Mar 13, 2023 9:52am
Quoting eyefeelsix
{quote} next.., here's my view on 15 Minutes chart {image}
..and yes he flies like a bird
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 20 KB
https://breakpullback.com
  • #735,814
  • Mar 13, 2023 9:52am Mar 13, 2023 9:52am
if we close today above 1.21117, then 1.23 is next
  • #735,815
  • Mar 13, 2023 9:55am Mar 13, 2023 9:55am
Took profit maybe a short now
Insane in the Brain..
  • #735,816
  • Mar 13, 2023 9:55am Mar 13, 2023 9:55am
Drop mf 1.21464 is a res
Attached Image (click to enlarge)
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yes yes yes
  • #735,817
  • Mar 13, 2023 9:59am Mar 13, 2023 9:59am
Quoting Moty
Drop mf 1.21464 is a res {image}
im with you buddy let’s see if we can get a drop to 121 at least
Insane in the Brain..
  • #735,818
  • Mar 13, 2023 10:07am Mar 13, 2023 10:07am
GU would love to see consolidated print rest of today. With CPI tomorrow and PPI the Wednesday we could have GU reach for 1.2200-1.2250 if CPI is lower than expected. That would force the Fed to slow its rate increases also Seasonally Dollar is weak from mid March going forward but I will wait for CPI tomorrow
  • #735,819
  • Mar 13, 2023 10:14am Mar 13, 2023 10:14am
4HR
Attached Image (click to enlarge)
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  • #735,820
  • Mar 13, 2023 10:20am Mar 13, 2023 10:20am
Now I can see what is happening on the H4, Daily, weekly and monthly time frame right on the H1 time frame. This was really difficult to figure out.

USDJPY will suffer most from the dollar crash. It will fall about 631 pips.
My telegram: https://t.me/avidforex
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