Cable Update (GBPUSD)

closed 16p

False break mf

dem to early. target should be 1.2570

was literally saying that in my head when I saw you closed and what the current price is.

should see lower fall I guess.

London session kind of done now it’s NYO for more fun and games. Neither GU or GJ managed to break resistance areas 12650 and 192 respectively.

having said that we might have seen the days highs on GJ as the mood looks more bearish at the moment

GU currently dipping mildly, uptrend still intact, buy a small bit daily near the open of the market ensures you don't time the market and keeps you in the market.
As today still not fully unfolds, we have the options below depending on what happens next:
1. GU ends the day lower, small buy the next day.
2. GU ends the day higher (i mean much higher, not just a mild one, refer to 13 Feb and 14 Feb to know what I mean), small buy + small sell the next day.

Why add equal buy and sell position for option 2?
Market ranges more often than trend, by sprinkling in some sells after a good rise in an uptrend saves you when the trend is about to shift, or the market tops, we never know where is the top. Either 1 of the outcome will happen below:
1. Market continue strongly upwards, but some days the market do not rise as much, so we only enter small buy instead of enter both directions, so we are still Net Buy overall and are profitable in strong trend.
2. Market tops, I would TP the main trend positions upon breaking thru the 1.25338 defense line indicator that I have. If market continues to drop, the counter trend trades will be much more profitable especially when carried forward to the next trend shift. A safe place to exit the counter trend trades are near the Trend indicator. Price might bounce off it and cause the counter trades from profit back into losses again, so dont be too greedy.

Waiting 2593 breaks and hold ! While usdx if bounce enough
Update : ok and waiting 2578 breaks and hold

Seems the GU is gathering momentum for a big move.

crott

Absolutely, holding past my SL

Walah...

I can feeeeeeel it coming! Can you smell the breeze downstairs? Once 2570 breaks we can take it down WWE style.

wkwk

Second entry of the day

Hourly. -- Towards 1.26 50 ??? Terminal move ???

1.25670 as first stop. The uptrend is strong, I doubt if it will even get that far

the drop is coming

I’m LONG on USDCAD!