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Cable Update - Continued 105 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Cable Update (GBP/USD) without Idiots 23 replies

cable short for gbpusd? 6 replies

Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Bitcoin hit my Be, good, better price to sell, opened 59732, SL 60600 target still 50k
People don't plan to lose. They lose because they don't plan.
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I still expect one more leg up................

Have a safe weekend all, crew.

Quoting navk
It is not messy to me. No down trend yet...even in 1 min chart. Look below 3135 for possible short.
Next week... could be sell in the biginning atleast.

I just see the close price if NY. Interesting.
Intraday only.
Quoting nAVIN2007
trading this pair is fucking crazy

Pretty simple really.
Need to be aware of trader sentiment, this is very important when a negative piece of data comes out yet Cable is flying. Whys that, what is on traders minds? Like right now, there isn't much selling happening because the consensus in the trading community is the US will cut rates by 50bps next week.
A countires interest rate is a big deal in the trading community and people should understand this and why.....
Keep an eye on USDX
Keep an eye on Euro/Usd
Keep an eye on Euro/Gbp
Keep an eye on larger time frames as well as the lower ones. Being a day trader and sometimes holding for a few days I time my entries going right down to the one minute chart after seeing what price is doing on 1hr/30/15/5 charts.
A lot of times it's confusing to traders why Cable is doing what it's doing when usdx is falling and Euro is rising, in that case money flows are going into EG and not Cable. Once EG has had it's feast then Cable will rebound and vise versa for selling Cable.
Another thing to take into account is having a sixth sense, it's why great traders are great, they know where the markets heading....

I'm sure other traders will use different pairs to gauge when to enter a trade on Cable but that's pretty much what I do.
The other thing I do is use BBMA which is a trading system developed by Omar Ally, I find very useful and don't have to use a lot of the TA other traders use. BBMA is posted on youtube, it's quite complex to understand it fully and I don't but what I take from it can easily make me 400 bucks a day now. I've only just now started to make that per day but before it was more like 200 bucks. These are in Kangeroos and not US dollars lol
Coming from a Pommie background I've always traded Cable, just seems like a natural thing to do LOL


And above all just bloody well enjoy trading and it's a journey of discovery tackling the areas of Gambling, Greed and a lack of patience, once overcome a land of milk and honey awaits that most will never aquire
We need a Quantum leap in understanding here
Quoting F.g
{image} I still expect one more leg up................ Have a safe weekend all, crew.
You caught some last-minute tea before the market closed
Quoting Headland
... Just back @ desk updating charts/seeing what I missed - Interestingly 4Hr has a pt. 4 of an exp tri (intermediate or full unknown yet.) playing out from current dly hi (after a full exp tri,) whilst 1Hr has a pt. 5 of a full exp tri playing out from same hi with bearish regular div between pts 1 and 5. If they are true - The 4Hr's target is either a fib retrace of it's move 3-4 for an intermediate exp tri, or an extension of it for a full exp tri. The 1Hr's target is a fib extension of it's move 4-5. (I have a pdf re these patterns in the files...

The alternative scenario - seeing as price reached a prev 1hr sw lo zone = pot supp, is that the 1hr bullish inter or full exp tri will play out as per chart below, which would mean the bearish 1hr exp tri fails to see a target of of an ext of move 4-5, but that the 4hr bullish inter exp tri reaches a target of an ext of it's move 4-5. Take your pick!

1hr below
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Intraday swing trader @ 30min+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
...closing state of play across the important t/f's;

So far this month 60% of 6mth amr has been traveled by price.

* Wkly This t/f ends the week still in a general uptrend with price encountering 'buy the dip' buyers @ a prev sw hi zone = pot rbs that started @ 3045. The wkly candle closes as a pinbar and these are known to be suggestive of more upside @ some point? 92% of 13wk awr traveled in the week just closed.
* Dly This t/f closes the week in a general uptrend after a LL @ the week's 3001 lo, the upmove busting thru the 1st upside hurdle on this t/f, the prev sw lo zone = pot sbr that started @ 3087. Fri's candle close somewhat opposes the wkly and is pretty much the same as it. Only 51% of 30day adr traveled on Friday.
* 4Hr This t/f closes the week rangy more than anything, and with a potential point 5 in the making @ some point, of a developing bullish exp tri pattern. It's last candle close was bearish.
* 1Hr This t/f closes the week in a general uptrend with late buyers emerging @ a prev 1hr sw lo zone = pot supp, extending down to the day's lo, after a consolidative day, reflected on the t/f.

The initial question going into the beginning of next week is - is the pullback from 3226 current yrly hi over? I guess this may be answered, or be influenced by, the fundie data releases/announcements due this coming week?

Wkly, Dly, 4Hr, and 1Hr below.
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Intraday swing trader @ 30min+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Quoting ScalaFX
Bitcoin hit my Be, good, better price to sell, opened 59732, SL 60600 target still 50k
SL holded, added one 60300 so when 59732 will hit I will close this for better risk reward
People don't plan to lose. They lose because they don't plan.
Quoting ScalaFX
{quote} SL holded, added one 60300 so when 59732 will hit I will close this for better risk reward
done, 60300 short protected at BE, lets see I can get huge profit on this trade to 50k
People don't plan to lose. They lose because they don't plan.
Viewing GBPUSD Chart from 6 hourly trend perspective, i will short GU with 3hr. candle close below 1.3109/4

However, i will switch to Buy with 3hr. candle close above last week/current pullback high. Breakout above 1.31587.

Let's see your own view as well.

Good day and nice weekend .
Quoting nAVIN2007
trading this pair is fucking crazy
Hi. Trading any instrument is crazy if you don't have a proven edge, (proven over a large representative multi-year sample of trades in the conditions it is designed to trade in.) Even when you have an edge you have to optimize your risk and trade management to it and then, you have to develop the necessary personal trading psychology to trade it profitably. That's all! Most don't even really know what a proven trading edge is, let alone have one, and rather than putting the work in to learn what one is and what you need to know about one, then get one that suits their own personality type and tolerances, they suffice with trading others' (with little-no real documented empirical evidence that it represents a real edge,) and/or what they think/believe will happen, (not understanding that you don't have to know this if trading with a proven edge,) and we all know where that inevitably leads, with very few exceptions.
Intraday swing trader @ 30min+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Quoting Headland
{quote} Hi. Trading any instrument is crazy if you don't have a proven edge, (proven over a large representative multi-year sample of trades in the conditions it is designed to trade in.) Even when you have an edge you have to optimize your risk and trade management to it and then, you have to develop the necessary personal trading psychology to trade it profitably. That's all! Most don't even really know what a proven trading edge is, let alone have one, and rather than putting the work in to get one, that suits their own personality type and tolerances,...
" Post of the week"...

These are the sort of posts folks should be taking notice of, not posts with charts that show positions in profit after it's happened, no good to man or beast...love as always to all...
...it is what it is
  • Post #838,193
  • Quote
  • Edited Sep 15, 2024 3:03am Sep 14, 2024 9:58am | Edited Sep 15, 2024 3:03am
Seeing the basic standard pa at this top, breaks previous low 3113 and hold , that is no fakeout then bear towards base again. Otherwise another bull leg still possible , the unexpected may expect ! Fakeout!
Market often like fakeouts!
so same pa probable . breaks and hold 3114 , the next sr 3100 and 3060 , having resistance nearest at 3157. breaks 3060 likely bottom test , breaks resistance likely run for short bull targets like before
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Not understand?better not follow my analyses!doubt clearer first, risks ++
Quoting Waveskierrob
{quote} " Post of the week"... These are the sort of posts folks should be taking notice of, not posts with charts that show positions in profit after it's happened, no good to man or beast...love as always to all...
"Reply of the week"

People should work more instead of lurking here all day and reading what experts are writing.
Quoting JoshuaMUtai
I'm new and i surely need a mentor
Lets GO!
Quoting genadi
{quote} "Reply of the week" People should work more instead of lurking here all day and reading what experts are writing.
Sometimes a little bit of expert advice can benefits us more than anything.
Riskin' ticks for points!
Quoting HaLBot
{quote} Pretty simple really. ...................
i usually buy when price is going up and sell when price is going down
in wondering about yourself, you forgot what you came here to be part of
Hey folks , anyone who is currently in to AUD I find this to be a fascinating read
https://au.finance.yahoo.com/news/mu...051415396.html

Basically major banks in Australia are going ahead and cutting rates starting sept 20 and ignoring RBA . Seems great for AUD weakness and explain the drop on sept 6 on Audusd in which we just retraced to. Audusd looking good to drop
Master your mind. Master Trading.
Quoting genadi
{quote} "Reply of the week" People should work more instead of lurking here all day and reading what experts are writing.
Each to their own, I suppose...
...it is what it is
Quoting Wavegarrick
Gu setting up for a major buy trade from 1.31000 from a 4 hr perspective. Cheers.
Hi Leon, do you have a target for this bulls?
this pair is act like crazy and wild, even it didn't want to drop below 1.3 with crappy data released on wednesday..
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