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Cable

GBP upd. Oct. 07, 2021Historians call the British Empire the largest state in the history of mankind. It reached its maximum size by the beginning of the 20th century. Its area was 32 million sq. km. (23% of the Earth's land area), and the number of inhabitants reached 500 million. The British Empire was founded in 1497 and formally existed until 1997 (exactly 500 years) till the moment of Hong Kong returning to the jurisdiction of China. In addition to England, the British Empire included 69 countries, including Ireland, India, Afghanistan, Pakistan, Egypt, Canada, the United States, Australia, New Zealand, and Qatar. We can find many false explanations about the causes of British power. These include industrial innovation, the successful development of manufacturing and later factory production, and progressive "British ideas" in international trade, which enabled the British to drive competitors out of all lucrative markets. Even more skeptical is the explanation of the British economic miracle by the existence of a democratic parliament, which limited the power of the monarch, and by the ideas of reformation. The main reasons for British power are an advanced navy and cunning and devious diplomacy. Thanks to them all the key resources, trade routes, and markets for products were under British control. The British gained their economic power through victorious wars, piracy, the slave trade, the pillaging of merchant caravans and the drug trade. The British, incidentally, are the founders of the drug trade. It began with the establishment of channels for the sale of opium from their Indian colonies to China and ended with the Opium Wars, in which England defeated the Chinese fleet and imposed bonded terms of trade. The twentieth century was a century of losing power and actually becoming a colony of the United States. After Brexit, European countries are starting to provide direct pressure in all spheres. Britain is clearly not in the best position even to defend. The current situation: In the global financial markets - is in the horror of things to come. Divorce from the European Union - when was any divorce ever positive? A domestic situation with a constant desire to divide. Don't you think that the currency is overvalued by about 100 percent? 0.7 to the dollar, like all the other commonwealth islands and Canada would be more to the point, isn't it? T.S.T.W. Not legal and financial advice; Any information provided here is only the personal opinion of the author.
by AlpacaBlack
5
When will the Correction start?With that huge drop yesterday we should expect a correction but when? Its clear to see all the imbalance on that drop. I've explained the process for my trades and what I look at - these are always areas I monitor and don't trade from them blindly. Although I hit my target yesterday holding on to the trade would have returned great profit - something I need to get better at. So for today I have these areas as high and lows, will be watching closely to see what the 1hr chart creates then trade from what I see.
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by jp7fx
GBPUSD 1-day classic patternsQ: What has the highest probability of occurring? In 2021 cable has also been rotating between $1.42 and $1.37. There are 2 classic patterns, 1 is validated. The double top, with a recent breakout of 1.3650 is validated. This pattern projects 1.3100 as the target. The double bottom , having recently tested and rejected 1.3600, would need to breakout from 1.4000 to be validated. This pattern projects 1.4400 as the target. Objectively cable was in an uptrend from March 2020 through March 2021. Price has been meandering around 1.4000 ever since. There are 2 clean resistance levels at 1.4250 and 1.4000 respectively. Continuing range bound price action about 1.4000 suggests this is the mean. Since the double top is validated the current position is short with a bias in favour of a throwback continuing. However the breakout has started to form that double bottom. The bias would change quickly if cable bulls decide to validate 1.4000 and ensuing momentum provides a 1.4250 test.
Short
by xciiitradingco
Small push has been madeAreas I'm looking at for 28th September - Price is still in the range of initial push from Daily Demand and retrace below the 50% of that push. For me the area its in now is showing a lot of selling - I'd like to see the supply areas taken out with candle body closure but ultimately it's the high of initial push that will need to be taken out. But doesn't mean there wont be opportunities to buy or sell why while this works itself out. Yesterday a Buy was possible on lower time frames which worked out very well. Trade Safe
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by jp7fx