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Cable Update (GBPUSD)

  • #504,621
  • Nov 27, 2019 12:39pm Nov 27, 2019 12:39pm
1.294x is a R of MAJOP

tri
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  • #504,622
  • Nov 27, 2019 12:39pm Nov 27, 2019 12:39pm
Quoting Coreg2004
{quote} ...continuation from yesterday {image}
my labeling is different to yours coreg but it worked for me..

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  • #504,623
  • Nov 27, 2019 12:40pm Nov 27, 2019 12:40pm
Quoting Ra.
{quote} As far as i'm concerned we're still in a macro downtrend, so i'll wait out the bull run. Price has been accumulating around a strong TL resistance for the past 6 weeks or so, doeosn't want to break past doesn't wanna drop..... Any move upward, will induce downward momentum first to shake off buyers..and vice versa {image}
It is a psychological delay... 1.2700 will happen within a flash and it will be one big aggressive daily candle that will shatter the support to eke out 1.2700. I even to a great extent think there will be a hung Parliament which will send the pair down to 1.1700 (not definite).
Data + Stat + Risk/Emotions Management
  • #504,624
  • Nov 27, 2019 12:46pm Nov 27, 2019 12:46pm
Quoting Georginson
{quote} It is a psychological delay... 1.2700 will happen within a flash and it will be one big aggressive daily candle that will shatter the support to eke out 1.2700. I even to a great extent think there will be a hung Parliament which will send the pair down to 1.1700 (not definite).
hmmm, interesting theory. Brexit has been like pulling teeth, and as much as BoJo wants to give that Brexit package nicely wrapped and with a pretty little ribbon on it.

I don't see that happening, and any news stating strong Sterling etc, further solidifies my bearish outlook.
  • #504,625
  • Nov 27, 2019 12:48pm Nov 27, 2019 12:48pm
Nice spike! I was waiting for it almost the whole day and missed the party
Twice
  • #504,626
  • Nov 27, 2019 12:58pm Nov 27, 2019 12:58pm
Quoting montygoldy
{quote} Thanks for the headsup... but now i have sl all in positive.... only thing i will lose is the running profit not a single dime from actual capital...
Just now checked my acc after the meeting at work and Adios People margin call hit on my all pound sells..... lost -22k................
Extreme gut feeling trader
  • #504,627
  • Nov 27, 2019 12:59pm Nov 27, 2019 12:59pm
Quoting montygoldy
{quote} Just now checked my acc after the meeting at work and Adios People margin call hit on my all pound sells..... lost -22k................
oh no ..
  • #504,628
  • Nov 27, 2019 1:01pm Nov 27, 2019 1:01pm
Quoting OnlineAddict
{quote} I don't want to stress you, but dollar index is topping...GU will definitely re-visit 2900+ this week, at least I think so. I hope your account will be able to stay alive, if it happens.
GU did its job. Now its EU's turn.
Everyone can see the chart, but only a few can actually read it.
  • #504,629
  • Nov 27, 2019 1:20pm Nov 27, 2019 1:20pm
"Newbie" question here, as it appears that the major contents of the YouGov MRP poll already leaked, is it hence expected that the market is already priced for the release already tonight?

(I off-course assume that the results of the poll is known to the big players for quite some time now, and only retails waiting for the actual release :-) )
  • #504,630
  • Nov 27, 2019 1:46pm Nov 27, 2019 1:46pm
Quoting montygoldy
{quote} Just now checked my acc after the meeting at work and Adios People margin call hit on my all pound sells..... lost -22k................
sorry to hear that bud, you still had a good run.
  • #504,631
  • Edited 2:09pm Nov 27, 2019 1:50pm | Edited 2:09pm
Quoting thevisitor
{quote} my labeling is different to yours coreg but it worked for me.. {image}
TV, that's OK. We trade what we see...as long as you stay with your rules for completion and invalidation of your pattern you will be OK ...Please, do the exercise: mark on your chart Pivot Points from the prior day and trade according to the rules (as you would trade horizontal line). If you stay with the rules I assure you you won't have a losing trade...I'd done this (life) by mistake and couldn't believe it how little correct values of PP's matter... In my opinion, the method/strategy is only necessary to keep our emotion in check and to provide the structure which will tell us if the market move according to our expectations or not. Harmonic patterns and range trading are complementary methods for EW in my playbook... If you are in the trade watch ugly pin bar (30M chart)
Edit: ...no one can say that your labeling is wrong because on a daily bases (or even 4H chart) W4 didn't close into W1. Also, because of the deep correction (61.8%) W5 is most of the time truncated...You did really good. Congrats.
Always trade your own plan...I don't provide trading signals.
  • #504,632
  • Edited 2:29pm Nov 27, 2019 2:19pm | Edited 2:29pm
you could have held a weekly naked option for a max loss 2k at £40 per pip short and still been in right now.
end of the week would be -2 k at any number above the strike, with very high leverage.

Quoting montygoldy
more shorts added... now gbp getting cocky... don't want to go down... goes 10 pips down then spike 20 pips... then fall back down to same level..... testing my patience........ NOw thats a record lots open for me across all my accounts... 120 and counting just for pound....... {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #504,633
  • Nov 27, 2019 2:23pm Nov 27, 2019 2:23pm
Quoting Ra.
{quote} sorry to hear that bud, you still had a good run.
Last 3 days profit gone
Extreme gut feeling trader
  • #504,634
  • Nov 27, 2019 2:27pm Nov 27, 2019 2:27pm
Quoting Bones
you could have held a weekly naked option for a max loss 2k at £40 per pip short and still been in right now. end of the week would be 2 k at any number above the strike, with very high leverage. {quote} {image}
Interesting never traded option no idea how it works.....
Extreme gut feeling trader
  • #504,635
  • Nov 27, 2019 2:29pm Nov 27, 2019 2:29pm
Complete loss of close 25k
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Extreme gut feeling trader
  • #504,636
  • Nov 27, 2019 2:34pm Nov 27, 2019 2:34pm
Just checking it before sleeping, shorts present above 2885 again and decide to wait more. News effects and more craziness before the time. Weekly close should fight for 2864, above only test previous high, otherwise revisit down for another week to buy low before uk election,niw limit diwn fir any up, not likely though, is2893. If breaks likely breaks below 2850

Usdx bull was healthy all along the day. Lest see.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #504,637
  • Nov 27, 2019 2:34pm Nov 27, 2019 2:34pm
I'm studying it, since I don't mind taking larger positions every now and then, its ideal for someone like you
also, the cost of the option is the margin,
in the Uk, margin can be a problem.No stop, there's a max loss inbuilt. Spikes/volatility won't take you out.
Also, you can do a daily or monthly option, you can close anytime.
I searched FF but there are no threads on it.

Quoting montygoldy
{quote} Interesting never traded option no idea how it works.....
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #504,638
  • Nov 27, 2019 2:35pm Nov 27, 2019 2:35pm
Quoting Coreg2004
{quote} TV, that's OK. We trade what we see...as long as you stay with your rules for completion and invalidation of your pattern you will be OK ...Please, do the exercise: mark on your chart Pivot Points from the prior day and trade according to the rules (as you would trade horizontal line). If you stay with the rules I assure you you won't have a losing trade...I'd done this (life) by mistake and couldn't believe it how little correct values of PP's matter... In my opinion, the method/strategy is only necessary to keep our emotion in check and...
coreg, thank you very much.

PP's are an important part of my trading, totally agree with you!

i always check your charts and love them!!

good night
  • #504,639
  • Nov 27, 2019 2:36pm Nov 27, 2019 2:36pm
Quoting montygoldy
Complete loss of close 25k {image} {image} {image}
Here I am, almost hit my MC, will lose one of the two accounts i have if it happens and im fu*ked up. How do you handle such losses man?
  • #504,640
  • Edited 3:04pm Nov 27, 2019 2:47pm | Edited 3:04pm
cable is likely to go higher than that number tomorrow
dead centre of the range which I'm starting to think will survive the month ,maybe it needs further retrace than this range low
Theres a open gap at the bottom of the range...
I'm thinking short close to or at the top on h4 PA to gap
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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