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Cable Update (GBPUSD)

  • #510,281
  • Jan 30, 2020 10:56am Jan 30, 2020 10:56am
Quoting Simply-Me
{quote} Great picture,almost like Picasso Are you able draw some oh them for future price movement,or just to monitor past?
Simply-Me, @vikinsa just showed you potential future trade (Alt. Bat)
Edit: here you have it... https://harmonictrader.com/harmonic-...e-bat-pattern/
Always trade your own plan...I don't provide trading signals.
  • #510,282
  • Jan 30, 2020 11:20am Jan 30, 2020 11:20am
they kick me out , i get back in.
again short from 1.3100 area , without sl
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 51 KB
yes yes yes
  • #510,283
  • Jan 30, 2020 11:23am Jan 30, 2020 11:23am
Quoting vikinsa
GBPUSD has been consolidating and creating harmonic patterns and Fibonacci confluences. Trading consolidation does not have to be boring. All we need is the just the knowledge of Fibonacci ratios and harmonic patterns. {image}

Okay . what is the next move ?
  • #510,284
  • Jan 30, 2020 11:28am Jan 30, 2020 11:28am
Quoting Bardzo
We have nice double bottom on monthly chart so enough room to the neckline, on daily couple bounces and my entry was 4th bounce with hidden Divergence nice PA setup. Goood luck tomorrow. {image}
1st post after 8 years...wow...but a good one. 3250 would be good to short.
Everyone can see the chart, but only a few can actually read it.
  • #510,285
  • Jan 30, 2020 11:28am Jan 30, 2020 11:28am
Quoting Gerald27
{quote} I actually studied the market on a 2 day frame and found 2 strong level of resistance which occurred on Tuesday and Wednesday. Coupled with a rejection candle at resistance level I took the trade and was having about 20pips so I went out with confidence only to come back to discover a surprising reversal. I really don't trade much with fundamental analysis. Am a technical trader. But I came to discover that I took that trade few minutes from news hour. But what kinda news would make that happen. I can hardly understand. Any idea?

Hmm. well, aside from the news being the factor that moved it. The reason why it looked bullish, price 'bounced' off 2980 level, to make a bottom (in my eyes).

Also to note was the large 1h bullish engulfing, that (to me) signifies bulls moving in aggressively and making a further push upward. I know it looked ranging...but... prices does eventually break the range, and the bearish PA right before news happened to play off that resistance area....

Cheers.
  • #510,286
  • Jan 30, 2020 11:31am Jan 30, 2020 11:31am
Quoting Gerald27
{quote} I actually studied the market on a 2 day frame and found 2 strong level of resistance which occurred on Tuesday and Wednesday. Coupled with a rejection candle at resistance level I took the trade and was having about 20pips so I went out with confidence only to come back to discover a surprising reversal. I really don't trade much with fundamental analysis. Am a technical trader. But I came to discover that I took that trade few minutes from news hour. But what kinda news would make that happen. I can hardly understand. Any idea?
Regarding your technical over fundamental...

It's okay to have a preference, but one should discard the other over preference to their liking, rather take it with a grain of salt.

News, whether you like it or not, acts as a catalyst. You may not believe in fundamentals, maybe market makers do? Just my thought. Whenever there is central bank talks...I scale my trades back, unless you want a 60pip loss due to 'slippage' from the H.I.N.
  • #510,287
  • Jan 30, 2020 11:40am Jan 30, 2020 11:40am
Bleh I'm pissed off almost took a long GBPAUD trade last night and would have killed it.. time to sit back and relax
instagram: stepbystepforex
  • #510,288
  • Jan 30, 2020 11:49am Jan 30, 2020 11:49am
Quoting vikinsa
GBPUSD has been consolidating and creating harmonic patterns and Fibonacci confluences. Trading consolidation does not have to be boring. All we need is the just the knowledge of Fibonacci ratios and harmonic patterns. {image}
Could not resist.. :
https://www.forexfactory.com/attachm...1&d=1423622932
https://www.forexfactory.com/attachm...1&d=1423622947
  • #510,289
  • Jan 30, 2020 11:52am Jan 30, 2020 11:52am
Quoting chess king
{quote} Okay . what is the next move ?
chess king, if I may...I know, it looks like @fontu's chart...
Attached Image (click to enlarge)
Click to Enlarge Name: GU.01.30.30M.c.png Size: 90 KB
Always trade your own plan...I don't provide trading signals.
  • #510,290
  • Jan 30, 2020 12:34pm Jan 30, 2020 12:34pm
Quoting cablefx
will see either can breakout trendine h4 with news impact {image}

Usd still bull range.. if cant break, will see can still reach 23.6 fibo on gbpusd
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 31 1 2020 230 AM.PNG Size: 40 KB
Click to Enlarge Name: USD 31 1.PNG Size: 29 KB
  • #510,291
  • Jan 30, 2020 12:40pm Jan 30, 2020 12:40pm
Quoting Simply-Me
{quote} Great picture,almost like Picasso Are you able draw some oh them for future price movement,or just to monitor past?
Quoting Piparins
{quote} Could not resist.. : {image} {image}


Quoting chess king
{quote} Okay . what is the next move ?

Quoting Simply-Me
{quote} Great picture,almost like Picasso Are you able draw some oh them for future price movement,or just to monitor past?
Short only as another pattern completes right now. I am short. Check these out:

https://www.tradingview.com/chart/GB...t-Opportunity/

https://www.forexfactory.com/showthr...5#post12725185

https://www.tradingview.com/chart/GB...s-Still-Short/

Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #510,292
  • Jan 30, 2020 12:46pm Jan 30, 2020 12:46pm
Usually after a strong movement during the day, a retracement occurs in the Asian session.
And this can still turn out to be the real move if the pattern of the head and shoulders is fulfilled
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU.png Size: 33 KB
Click to Enlarge Name: GU1.png Size: 30 KB
Click to Enlarge Name: DX.png Size: 28 KB
Click to Enlarge Name: DX1.png Size: 27 KB
yes yes yes
  • #510,293
  • Jan 30, 2020 1:13pm Jan 30, 2020 1:13pm
Next buy
  • #510,294
  • Jan 30, 2020 1:24pm Jan 30, 2020 1:24pm
Cable is not on fire in my opinion, this period. With major concerns on Brexit gone (at least uncertainty factors), GU Will consolidate I think for some time.
I personally look at 1.2905-10 to buy and 1.3335 to sell... bouncing up and down
  • #510,295
  • Jan 30, 2020 2:33pm Jan 30, 2020 2:33pm
im buying at this late hour lol

long 3088
in wondering about yourself, you forgot what you came here to be part of
  • #510,296
  • Jan 30, 2020 2:46pm Jan 30, 2020 2:46pm
Quoting knkie
im buying at this late hour lol long 3088
Got a flashback from your post 5 hours earlier... :-) you were correct then to!

out of curiosity, what is your avarage TO level in pips?


i am however hoping it should fo down, shorted GBP AUD just before the who conference, AUD up now, some gbo later down would be awsome...
  • #510,297
  • Jan 30, 2020 3:21pm Jan 30, 2020 3:21pm
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 33 KB
yes yes yes
  • #510,298
  • Jan 30, 2020 5:34pm Jan 30, 2020 5:34pm
Quoting Coreg2004
{quote} chess king, if I may...I know, it looks like @fontu's chart... {image}
I have an eye here..

Attached Image (click to enlarge)
Click to Enlarge Name: TRiGU.png Size: 181 KB
  • #510,299
  • Jan 30, 2020 5:58pm Jan 30, 2020 5:58pm
GU will continue UP in my chart
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 57 KB
  • #510,300
  • Jan 30, 2020 7:03pm Jan 30, 2020 7:03pm
So many different versions of analysis... I wonder which ones will play out!!!
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