Cable Update (GBPUSD)

Morning IB make your chart small on the day and look back to August last year . Regards E

yep, we are at August lows and I am short...

??

Closing trade out now though as kids are home from their learning activities

So guys, what's the program next ? Up again ? Or should we continue a bit lower ?

I was expecting more power from bears, quite disapointed here

waiting for usa to kick in perhaps or just setting up a micro up channel to painfully and slowly make its way to 130 seems logical guess these micro channels make 3 times more than a straight up and so maybe waiting for the usa to go up together what is ny 6 am and early birds are in perhaps?

Hey Nala - you're making me a fortune - yay !!!
keep up the fantastic work !!

Seems GU filling its gap of yesterday!!!! First

Are any one trading this pair at the moment?

Short Bias but nothing concrete took an early signal a few days back but waiting for the right move south could be a week from now especially the way this pair is traded seems like its 100 percent robotic these days ..

Short HERE, or never

Double top in progress?

10 pips to the gap . There is something a foot holmes . Lol

Ha ha, excellent observation!

Thank you , I bet it was a shock to know that ??? I do try to keep abreast of things 🤠

Or .. good god Watson your right ..

As I said yesterday the bulls needed a support to take out the resistance.

So after a 50% retracement (loading up with short silly money) the bulls took out all the short stops and did indeed find support. Now that resistance should not present a problem and with the EMA almost at the EMA level we should see a fairly good push upwards.

On a political note the French elections are making brokers nervous and it follows we should be too. Sometimes it is much more profitable to take a day off and go feed the ducks or fly a kite.

If the bears close out the support before the resistance is taken out then all hell may break loose as the market fluctuates wildly. It is no use at all putting in stops because they get taken out even if you are in the right direction, if you set them wider you risk more so you drop the lot size to compensate and make little to no profit anyway. The whole exercise becomes a pointless risk.

Very often when there is something of major importance going on the market just dies as so many simply stand aside. This can set gold on fire as people look for other instruments to trade, the more worldwide unrest the more gold prices rise, gold being the so called safe haven followed by the dollar and then the yen. The fall-guy in this situation is the AUD because it is so widely foreign owned and highly dependent on commodity prices such as metals and such, its one saving grace is that it is the worlds 5th gold producer.

Of course this is all just a nonsense when it comes to trading, we should all be trading what we see is happening not what we think will happen. The market is still doing what it has been doing since the dawn of time, it goes up and it goes down and probably always will do unless the world settles on a standard but somehow I don't see the big wigs allowing that to happen, they want it all. For every million dollars someone has that is a million people short of a dollar.

So lets see what happens with the French connection...

Very good point re french elections.
Was thinking of shorting GU in london but no, ill stick to AU or UJ. Thanks for the reminder haha. I did know that just forgot. Hazards of multiple markets

very nice short set up if it wasnt though. Easy 1:1+

Nice sell off again but will it keep going just taking some of the profit off that gap entry over night might scalp a long again here 2905 keep it tight then short it again same plan Mr S