Kinda interesting comparison... Fractal? Just musings.... not solid analysis...just noticed it while charting....
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Cable Update (GBPUSD)
- #504,943
- Edited 5:12am Dec 1, 2019 4:58am | Edited 5:12am
- Joined Apr 2012 | Status: Stunning | 6,815 Posts
in wondering about yourself, you forgot what you came here to be part of
{quote} i agree with your arrow scenario. maybe price goes up a bit more first. 2956 is key for me. but the Day PA is quite messy imo i could make a case for up or down right now. H4 might be winding up to fall though.... im gonna wait until H4 gives better direction edit: just checked weekly. there is a case to be made it is making a LL-LH if H4 makes a HH and falls, then the Dy chart will make a LH as well. Double trouble. all speculation though.
{quote} I just did a top down, take a look and let me know your thoughts.. I'm trying to break the 'always bearish' habit
I agree with you on the Daily being messy..
I find the 4h has a bit of indecisiveness as well.. it could go either way.
1h looks like it may drop a bit first but who knows how much steam.
Last Friday saw some good bullish momentum..so I wouldn't be surprised if that continues early on this week.
- #504,946
- Dec 1, 2019 7:49am Dec 1, 2019 7:49am
- Joined Apr 2012 | Status: Stunning | 6,815 Posts
{quote} I just did a top down, take a look and let me know your thoughts.. I'm trying to break the 'always bearish' habit
Im not an indicator fan but the way you are projecting the higher frame Bollinger bands down on the lower frames is very useful.
I dont think ive seen that like that before
The H4 chart is telling the same as i am seeing: if it goes up with momentum the daily will follow and if it stalls here the daily will fall....
Do you always trade bearish because the moves are faster and bigger?
I find going long often frustrating because it makes more waves whereas shorts often yield fast large results.........
in wondering about yourself, you forgot what you came here to be part of
{quote} well you have beautiful charts Ra. Very clean, i like that. Im not an indicator fan but the way you are projecting the higher frame Bollinger bands down on the lower frames is very useful. I dont think ive seen that like that before
I think I am just more familiar trading shorts, than longs. Yes, the faster moves with the bears initially had something to do with it. I found holding long positions that build up..only to lose a chunk of it in a violent downward move frustrating...but that's the growing pains of learning to trade, and with better understanding of market structure...and proper position management it'll work itself out. I can see why you're frustrated with longs because of the waves... even though I may catch the 'first level' when price accumulates... I hate seeing profits dip and close at the worse possible time...but this is from lack of experience
I'm trying to trade both sides, and find to be more bearish than bullish (as an absolute) can burn you.. but that's just my opinion.
I'm still finding my 'fingerprint' in trading, but after exploring this forum, and observing good traders statistics, hearing others opinions/POV, going through myfxbooks and TE's strong equity curves tend to be about 50/50. That's what i'm aiming for, and I feel i'm on the right track.
Thanks for the input, and I feel similar sentiment, after our previous talks, you taught me a lot about waiting and seeing... versus following an assumption, I didn't actually thank you for that.
Cheers.
- #504,949
- Dec 1, 2019 11:14am Dec 1, 2019 11:14am
- | Membership Revoked | Joined Feb 2019 | 1,453 Posts
- #504,950
- Dec 1, 2019 11:17am Dec 1, 2019 11:17am
- Joined Aug 2018 | Status: Research Analyst | 4,290 Posts
Data + Stat + Risk/Emotions Management
- #504,954
- Dec 1, 2019 12:13pm Dec 1, 2019 12:13pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #504,955
- Dec 1, 2019 12:14pm Dec 1, 2019 12:14pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #504,956
- Edited 12:52pm Dec 1, 2019 12:33pm | Edited 12:52pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #504,958
- Dec 1, 2019 1:13pm Dec 1, 2019 1:13pm
- Joined Apr 2012 | Status: Stunning | 6,815 Posts
{quote}...... Thanks for the input, and I feel similar sentiment, after our previous talks, you taught me a lot about waiting and seeing... versus following an assumption, I didn't actually thank you for that.
in wondering about yourself, you forgot what you came here to be part of
- #504,959
- Dec 1, 2019 1:42pm Dec 1, 2019 1:42pm
- Joined Dec 2015 | Status: Trader | 8,759 Posts
If you are tracking the GBPUSD this week, consider this technical perspective.
Recent price action on the daily time frame is within a symmetrical triangle and, technically, we should expect a breakout from either side of the triangle. Much of the candlestick prints last week indicate an intention of bulls to go further northwards. But as market operation is presently located close to a significant horizontal resistance zone (1.30160/1.31960, bound by red horizontal lines), a bullish drive is likely to be hindered.
Technicals on the H4 time frame indicate that bulls still have room and influence to take price action further northwards; they may retest the 1.301160 horizontal resistance. But beyond that level, they are likely to face some barriers, given the significance of the 1.30160/1.31960 zone as resistance on the monthly and weekly time frames. We should await how price action handles the zone in the early part of this week. Personally, I am looking for a bearish setup within the 1.30160/1.31960 zone, as that will likely offer me a profitable R:R.
I may be wrong. Trade safe and prosper.
KP
Recent price action on the daily time frame is within a symmetrical triangle and, technically, we should expect a breakout from either side of the triangle. Much of the candlestick prints last week indicate an intention of bulls to go further northwards. But as market operation is presently located close to a significant horizontal resistance zone (1.30160/1.31960, bound by red horizontal lines), a bullish drive is likely to be hindered.
Technicals on the H4 time frame indicate that bulls still have room and influence to take price action further northwards; they may retest the 1.301160 horizontal resistance. But beyond that level, they are likely to face some barriers, given the significance of the 1.30160/1.31960 zone as resistance on the monthly and weekly time frames. We should await how price action handles the zone in the early part of this week. Personally, I am looking for a bearish setup within the 1.30160/1.31960 zone, as that will likely offer me a profitable R:R.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money