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Cable Update (GBPUSD)

  • #484,141
  • Jul 10, 2019 10:40am Jul 10, 2019 10:40am
Quoting Moty
{quote} I am not kidding. gave2 banks gave my my a loan of 70000 dollars with no insurance lol . Their problam.
Might cheer you up (or maybe not) I've joined the Bull ride in at 1.2503

Went past fib level 1.2498. so will target the highs
Don't trade what you think. Just what you see!!!
  • #484,142
  • Jul 10, 2019 10:41am Jul 10, 2019 10:41am
Quoting Coreg2004
{quote} Moty, I know I sound like a broken record (this is the second thread we post together) but I will say it again. Many patterns we forecast using Elliott Wave Principal don't come out as we predicted, so what is the problem to take -3 or -5 pip/points loss? on winning trades, these losses will be covered many times over...You know where the market doesn't do what you thought will do...I always wait for the market to touch the ascending channel boundary when I trade W:5 and use 1BH/1BL to trigger the entry...Just the thought. {image}
Here we go
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yes yes yes
  • #484,143
  • Jul 10, 2019 10:42am Jul 10, 2019 10:42am
Quoting Theoak
{quote} + 3.5 pips.. Put this to bed!! I'm starting to question Fibs!!
Have a look at the 61.8 fib on that nzusd it hit and took off . Hence my post this morning
  • #484,144
  • Jul 10, 2019 10:44am Jul 10, 2019 10:44am
Yes cable is up otw to 1.2600
  • #484,145
  • Jul 10, 2019 10:44am Jul 10, 2019 10:44am
Still no reason to be long until I see a HL made then broken.
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  • #484,146
  • Jul 10, 2019 10:45am Jul 10, 2019 10:45am
Quoting Wavegarrick
Hi Guys, Whilst I welcome Bears going in my trade direction I am very observant of these levels. Will I add shorts? = No. Dingoman posted a very nice monthly chart earlier and last years low at 1.24088 ish give and take. My take - what goes up must come down and what goes down must go up, irrespective of fundamentals. Do I see a definite collapse in the pound, bloody hell - No. It is a matter of days for me and perhaps tomorrow could see more down. For now I sit on the side lines. Thursday could see something happening. I wait patiently. My weekly...
Hi Guys,
Whilst things not looking as good as Eu I do believe that this pair holds good potential for a swing reversal. Tomorrow should be more telling. A matter of time before I get into buy trades. My weekly open at 1.25253 ish holding at the moment.
Trade safe and hang in Moty.
Cheers
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Trade to trade another day
  • #484,147
  • Jul 10, 2019 10:46am Jul 10, 2019 10:46am
Quoting elbert3
{quote} Have a look at the 61.8 fib on that nzusd it hit and took off . Hence my post this morning
I'm no expert in Fibs. Just kind of using it live if you like, because at the moment I can't see the edge. The problem I have - is it going to bounce off or go through!! I'll keep trying!!
Don't trade what you think. Just what you see!!!
  • #484,148
  • Jul 10, 2019 10:48am Jul 10, 2019 10:48am
Quoting Theoak
{quote} Might cheer you up (or maybe not) I've joined the Bull ride in at 1.2503 Went past fib level 1.2498. so will target the highs
+5.4 pips out

Read Neils post and spooked me!

Heads up a fib level at 1.2498 if it breaks I'll short and target the level below 1.2487
Don't trade what you think. Just what you see!!!
  • #484,149
  • Jul 10, 2019 10:50am Jul 10, 2019 10:50am
Quoting Moty
{quote} Here we go {image}
Moty, you are impossible...but hold the horses ...
Always trade your own plan...I don't provide trading signals.
  • #484,150
  • Jul 10, 2019 10:54am Jul 10, 2019 10:54am
Quoting Neil0163
Still no reason to be long until I see a HL made then broken. {image}
Why not ?
A break up of a the downward trend line.
Hh and hl at the hourly chart .
I will look for retracement for long trades
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yes yes yes
  • #484,151
  • Jul 10, 2019 10:56am Jul 10, 2019 10:56am
Quoting Neil0163
Still no reason to be long until I see a HL made then broken. {image}
I needed to see that line, thank you.
  • #484,152
  • Jul 10, 2019 11:04am Jul 10, 2019 11:04am
he is true now ... GBPUSD going uptrend now
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The Average Discount Everything
  • #484,153
  • Jul 10, 2019 11:04am Jul 10, 2019 11:04am
Quoting Theoak
{quote} +5.4 pips out Read Neils post and spooked me! Heads up a fib level at 1.2498 if it breaks I'll short and target the level below 1.2487
Another trader can only spook you if you don't know what you are doing. Learn to read a market properly so you can make your own decisions. Remember the published figures. Something of the order of 90%+ traders will lose all their money this year. Would that not suggest that 90% of what you hear in this forum is rubbish, and that includes the gurus.
  • #484,154
  • Jul 10, 2019 11:07am Jul 10, 2019 11:07am
Quoting directxxx
{quote} Another trader can only spook you if you don't know what you are doing. Learn to read a market properly so you can make your own decisions. Remember the published figures. Something of the order of 90%+ traders will lose all their money this year. Would that suggest that 90% of what you hear in this forum is rubbish, and that includes the gurus.
It made sense to me. The market has been going down like a train. So why go long!
Don't trade what you think. Just what you see!!!
  • #484,155
  • Jul 10, 2019 11:11am Jul 10, 2019 11:11am
Quoting directxxx
{quote} Another trader can only spook you if you don't know what you are doing. Learn to read a market properly so you can make your own decisions. Remember the published figures. Something of the order of 90%+ traders will lose all their money this year. Would that not suggest that 90% of what you hear in this forum is rubbish, and that includes the gurus.
Yep...that also includes you, my friend! But well done with the bull call.

Quoting directxxx
{quote} Another trader can only spook you if you don't know what you are doing.
No, it doesn't. Some people are simply more influenceable than others just like in normal life.
  • #484,156
  • Jul 10, 2019 11:11am Jul 10, 2019 11:11am
Quoting Moty
{quote} Why not ? A break up of a the downward trend line. Hh and hl at the hourly chart . I will look for retracement for long trades {image}
I see where your looking change that to a 4 hour chart and you'll see the "hl" wasn't a significant pull back, it could turn out to be a harmonic pattern on the way to point D for the bears. Also in you defence though I guess it depends where your take profit levels are as you can get trends within side a trend.
  • #484,157
  • Jul 10, 2019 11:13am Jul 10, 2019 11:13am
Quoting Theoak
{quote} It made sense to me. The market has been going down like a train. So why go long!
I mean NO DISRESPECT to any other trader but look at a 1 hour chart and you will see both HH and HL's which indicate a SHORT TERM uptrend. Even on a 4 hr chart you have a HL .... The key to all of this PA is 1.2540 (which SHOULD happen by tomorrow) then you will have a clearer picture. Learn to read a chart before trading anything but a demo account.
  • #484,158
  • Jul 10, 2019 11:13am Jul 10, 2019 11:13am
Quoting Theoak
{quote} It made sense to me. The market has been going down like a train. So why go long!
Theoak what timeframe do you operate?
  • #484,159
  • Jul 10, 2019 11:15am Jul 10, 2019 11:15am
Quoting mbrown
{quote} Yep...that also includes you, my friend! But well done with the bull call. {quote} No, it doesn't. Some people are simply more influenceable than others just like in normal life.
I agree completely. No reservation.
  • #484,160
  • Jul 10, 2019 11:15am Jul 10, 2019 11:15am
Quoting Neil0163
{quote} I see where your looking change that to a 4 hour chart and you'll see the "hl" wasn't a significant pull back, it could turn out to be a harmonic pattern on the way to point D for the bears. Also in you defence though I guess it depends where your take profit levels are as you can get trends within side a trend.
which pattern?
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