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Cable Update (GBPUSD)

  • #458,181
  • Feb 28, 2018 4:37am Feb 28, 2018 4:37am
Quoting Bones
If you learn it properly you cannot have price to the left in a top formation ,in actual fact every daily pin would look like that H1 {quote}
To qualify as a top formation yes I agree with you.... not sure however on the bias when such formation pan out like you said
  • #458,182
  • Feb 28, 2018 4:42am Feb 28, 2018 4:42am
On the hour as long as it keeps below 1.3893 it favour bearish bias
  • #458,183
  • Feb 28, 2018 4:44am Feb 28, 2018 4:44am
lol he won't take it like that
Quoting Trade-G
{quote} You are so funny hahahah
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #458,184
  • Feb 28, 2018 4:50am Feb 28, 2018 4:50am
Looking for a rejection of 1.38812 on M5 best some form of bullish setu
  • #458,185
  • Feb 28, 2018 4:55am Feb 28, 2018 4:55am
its in the definition ,his example prior trend if you call it that is downward ,it made a lower high
if you need a trend for a top then you can not see price to the left, lots of consolidation looks like the pattern

Quoting Trade-G
{quote} To qualify as a top formation yes I agree with you.... not sure however on the bias when such formation pan out like you said
Attached Image (click to enlarge)
Click to Enlarge Name: h+s Untitled 2.png Size: 150 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #458,186
  • Feb 28, 2018 4:59am Feb 28, 2018 4:59am
Quoting Bones
its in the definition ,his example prior trend if you call it that is downward ,it made a lower high if you need a trend for a top then you can not see price to the left, lots of consolidation looks like the pattern {quote} {image}
Yes I agree with you as a top formation and a reversal pattern.... however I did not do enough studies to understand the bias when HS appears not as a top or bottom.... as pattern traders (I think you are too) strictly we do not consider it HS.... but some other form
  • #458,187
  • Feb 28, 2018 5:09am Feb 28, 2018 5:09am
lots of traders make it up ,it dose look like a head and shoulder and it is currently going down ,that will actually be following an immediate downward tl
so you're see it a lot
that's how I know Nalas approaching a 2 year trading birthday, with no foot print to his claimed 10
no doubt he works hard at it
if he has a 10 year let us see it

Quoting Trade-G
{quote} Yes I agree with you as a top formation and a reversal pattern.... however I did not do enough studies to understand the bias when HS appears not as a top or bottom.... as pattern traders (I think you are too) strictly we do not consider it HS.... but some other form
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #458,188
  • Feb 28, 2018 5:14am Feb 28, 2018 5:14am
its in a sideway mode right now , but it's making lower highs to a tl
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 4 hours.png Size: 37 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #458,189
  • Feb 28, 2018 5:17am Feb 28, 2018 5:17am
im not a pattern guy at all but I read the rules and understand them fully , you don't need to study actual any further continuation top patterns don't exist

Quoting Trade-G
{quote} Yes I agree with you as a top formation and a reversal pattern.... however I did not do enough studies to understand the bias when HS appears not as a top or bottom.... as pattern traders (I think you are too) strictly we do not consider it HS.... but some other form
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #458,190
  • Feb 28, 2018 5:20am Feb 28, 2018 5:20am
@Bones
I agree with you, it does form new lower highs .I would like to think that the next high will be somewhere around 1.3987.. but it should eventually go to the 1.3667 resistance.
  • #458,191
  • Feb 28, 2018 6:03am Feb 28, 2018 6:03am
Quoting Trade-G
{quote} Yep Mike, the breakout did happened, left before the breakout... initially thought it might be a FBO... not sure if this will result in another push downwards in H1 timeframe
Ok we have for the hourly another push down, looking at 1.3800 region for the swing to react...
  • #458,192
  • Feb 28, 2018 6:21am Feb 28, 2018 6:21am
Looking at 1.3710 region for the larger timeframe
  • #458,193
  • Feb 28, 2018 6:34am Feb 28, 2018 6:34am
H1 timeframe lined up at 1.3800 where TP is also trendline support
  • #458,194
  • Feb 28, 2018 6:46am Feb 28, 2018 6:46am
Quoting Trade-G
{quote} Ok we have for the hourly another push down, looking at 1.3800 region for the swing to react...
Super....
  • #458,195
  • Feb 28, 2018 6:48am Feb 28, 2018 6:48am
Will like to see effort to try and push down and fail so that a base can form....
  • #458,196
  • Feb 28, 2018 6:52am Feb 28, 2018 6:52am
Can someone shout when a likely turn point is there please...
  • #458,197
  • Feb 28, 2018 6:59am Feb 28, 2018 6:59am
the only thing is see is 1.3742, and to be honest its maybe not the best looking support, but its far enough to consider, for today...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 53 KB
Look Sharp/Trade Tight
  • #458,198
  • Feb 28, 2018 7:06am Feb 28, 2018 7:06am
Not closing short position until I see evidence of the next upswing
  • #458,199
  • Feb 28, 2018 7:10am Feb 28, 2018 7:10am
Support 1.38102 established, looking where will be the nearest resistance for M5
  • #458,200
  • Feb 28, 2018 7:12am Feb 28, 2018 7:12am
H1 3 pushes completed, looking for signs from above....
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