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Cable Update (GBPUSD)

  • #464,741
  • Sep 11, 2018 12:16am Sep 11, 2018 12:16am
Potential short term reversal here
  • #464,742
  • Sep 11, 2018 12:32am Sep 11, 2018 12:32am
strong move to start the week, flagging against resistance, see some support near 3025, going to use it as a clue...going to look for longs today, but am going to be very picky...
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #464,743
  • Sep 11, 2018 12:59am Sep 11, 2018 12:59am
Quoting Trade-G
{quote} Agree with you that failure can usually result in the opposite direction. But somehow I trade flags and it kinda looks different from yours... that's why my curiosity
the idea of a flag is: a trend, a pause and a continuation.

A tradition flag has a trend (pole) and a pause (normally against the trend/pole)

A DBBF has a trend/pole and a pause with a Double bottom....

Do not get stuck in the perfection of the pattern, a pattern is the representation of the psychology of the participants and you only need to see that. Hope it helps a bit.
Attached Image (click to enlarge)
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trading is simple but is simple is not easy.
  • #464,744
  • Sep 11, 2018 1:52am Sep 11, 2018 1:52am
Quoting ZenNy
{quote} the idea of a flag is: a trend, a pause and a continuation. A tradition flag has a trend (pole) and a pause (normally against the trend/pole) A DBBF has a trend/pole and a pause with a Double bottom.... Do not get stuck in the perfection of the pattern, a pattern is the representation of the psychology of the participants and you only need to see that. Hope it helps a bit. {image}
Yes do agree somewhat on the perfection part, but most of my setups are like this.
Attached Image (click to enlarge)
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  • #464,745
  • Sep 11, 2018 1:56am Sep 11, 2018 1:56am
I think they would agree on soft Brexit, both parties need each other.
  • #464,746
  • Sep 11, 2018 2:06am Sep 11, 2018 2:06am
Quoting Trade-G
{quote} Yes do agree somewhat on the perfection part, but most of my setups are like this. {image}
I know what you mean....I am not disagreeing with you I am only sharing......

You see.... in that chart you kindly posted I can see another 4 flags not as perfect as yours but still flags in my own perceptions and I would have traded all five of them if they were inline with my strategy....

Now lets turn page..... I do not have any idea where this is going and to be honest I do not care....I only trade in the direction of the least resistance....all the best for the day....
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 23 KB
trading is simple but is simple is not easy.
  • #464,747
  • Sep 11, 2018 2:19am Sep 11, 2018 2:19am
Quoting ZenNy
{quote} I know what you mean....I am not disagreeing with you I am only sharing...... You see.... in that chart you kindly posted I can see another 4 flags not as perfect as yours but still flags in my own perceptions and I would have traded all five of them if they were inline with my strategy.... Now lets turn page..... I do not have any idea where this is going and to be honest I do not care....I only trade in the direction of the least resistance....all the best for the day.... {image}
No problems, just sharing because each of these may look the same but are different. Why we need to know because the engagement and all else are different. My thoughts.
  • #464,748
  • Sep 11, 2018 2:29am Sep 11, 2018 2:29am
Ok todays resistance region hit, if it stays under, breakout if it clears
  • #464,749
  • Sep 11, 2018 2:51am Sep 11, 2018 2:51am
Good progress, D1 now at resistance region at 1.3079, clearing this will mean the previous down channel is cleared and next bullish objective is set. From the whole of past 2-3 weeks. Mentioned D1 has taken over due to the setup.
Attached Image (click to enlarge)
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  • #464,750
  • Sep 11, 2018 3:10am Sep 11, 2018 3:10am
Attached Image (click to enlarge)
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A fellow trader posted this before, it was held as a Bullflag
Attached Image (click to enlarge)
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I saw it as a top pattern 123
  • #464,751
  • Sep 11, 2018 3:20am Sep 11, 2018 3:20am
M15 confirms the signs of temp top as well, eventually it drifted downwards until the next trading day. Not saying who is right or wrong, but to me its important to identify clear and correctly before you engage. Your setups (patterns) should be very familiar with you if you trade it, with very specific engagement. Those who trade patterns will understand what I mean. Just sharing hope nobody gets the wrong idea. I too learnt the hard way hence if you engage wrongly you lose money. Your setups will never be 100% expectancy so the failure part will stack up... think about it.
Attached Image (click to enlarge)
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  • #464,752
  • Sep 11, 2018 3:28am Sep 11, 2018 3:28am
gu h1
Attached Image (click to enlarge)
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yes yes yes
  • #464,753
  • Sep 11, 2018 3:30am Sep 11, 2018 3:30am
Quoting Moty
gu h1 {image}
Wedging up? But if you shift up the trendline resistance to todays top, it could look like an up channel.
Attached Image (click to enlarge)
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  • #464,754
  • Sep 11, 2018 3:49am Sep 11, 2018 3:49am
Quoting Trade-G
Ok todays resistance region hit, if it stays under, breakout if it clears
Resistance indeed, supported at PP 1.29907, looking at how it will react at todays pivot
  • #464,755
  • Sep 11, 2018 3:50am Sep 11, 2018 3:50am
crap market..

classic sl hunt ..
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #464,756
  • Sep 11, 2018 3:53am Sep 11, 2018 3:53am
Buying opportunity?
  • #464,757
  • Sep 11, 2018 3:56am Sep 11, 2018 3:56am
7 Mins to the hour. M30 still shows support as long as 1.2986 region stays supported bullish bias is till there. Personally I see this as reactionary as D1 reached major resistance zone. See previous D1 chart
Attached Image (click to enlarge)
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  • #464,758
  • Sep 11, 2018 3:57am Sep 11, 2018 3:57am
wow, spike down and then go back up ....
stop hunt is real after all ...
  • #464,759
  • Sep 11, 2018 3:58am Sep 11, 2018 3:58am
Tomorrow will be the day to see how higher timeframe will be at the charts.
  • #464,760
  • Sep 11, 2018 4:01am Sep 11, 2018 4:01am
Quoting Almo2312
crap market.. classic sl hunt ..
If we set our SL tight our profits are protected if we trade intraday. If we trade higher timeframe your stops should not be hit yet. Apologies for the blabber...
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