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Cable Update (GBPUSD)

  • #511,141
  • Feb 7, 2020 7:17am Feb 7, 2020 7:17am
got time to see charts , ok pa , pullback to ready . waiting gold down 1560 again to all align
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #511,142
  • Feb 7, 2020 7:18am Feb 7, 2020 7:18am
have a nice weekend all
  • #511,143
  • Feb 7, 2020 7:23am Feb 7, 2020 7:23am
again daily pivot , but this time it will break .
i aiming for not greedy tp , daily r1 1.29784
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU.png Size: 38 KB
Click to Enlarge Name: EG.png Size: 48 KB
Click to Enlarge Name: dx.png Size: 36 KB
Click to Enlarge Name: GU1.png Size: 26 KB
yes yes yes
  • #511,144
  • Feb 7, 2020 7:28am Feb 7, 2020 7:28am
Hi all,
I was following this forum (and this thread in particular) for some time, and now decided to participate. But first of all, I would like to thank everyone for the insight that you share so generously. I learned a lot just by reading your posts.

Best regards,
VM
  • #511,145
  • Feb 7, 2020 7:37am Feb 7, 2020 7:37am
Quoting Guztro
{quote} Good point ozalid, there is however a good balance between technical and fundamental analysis required to become a successful trader. As much as it's nice drawing lines on a chart, not understanding how news or economic data will influence things remains the key reason why many traders fail. Trade safe Guz
I have only drawn four possible scenarios and there are many more. Are you convinced that only yours will happen? If so, congratulations on the experience.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2020-02-07 at 16.30.26.png Size: 133 KB
  • #511,146
  • Feb 7, 2020 7:43am Feb 7, 2020 7:43am
1.28750-800 we will see channel h1 show it,1.29310 its only stop next stop 1.28800-700
  • #511,147
  • Feb 7, 2020 7:50am Feb 7, 2020 7:50am
Its strong support. So take care, market maker unpredicted
Attached Image (click to enlarge)
Click to Enlarge Name: download 4.png Size: 65 KB
  • #511,148
  • Feb 7, 2020 7:52am Feb 7, 2020 7:52am
I can tell you it stay only because H4 and H1 wave up now,in monday wave down and we will see.To my indicator now wave up if Gu some up it can be now,on monday i suppose wave down will be.My opinion my indicator.my opinion we need some up before down.
  • #511,149
  • Feb 7, 2020 7:58am Feb 7, 2020 7:58am
1.28900 its good for sell. Im out to keep my balance
  • #511,150
  • Feb 7, 2020 7:59am Feb 7, 2020 7:59am
Quoting ozalid
{quote} I have only drawn four possible scenarios and there are many more. Are you convinced that only yours will happen? If so, congratulations on the experience. {image}
Hi ozali, personally scenario 1 is out for me as I hold the view that the B wave of the ABC correction on the daily is incomplete, in other words, D in the Gartley Pattern I posted is where I see wave B ending. Wave C will be all the way down to just above where wave 1 started on the daily.

Scenario 2 is possible, it depends on whether an AB=CD pattern forms, then it can be traded as such.
Price will very rarely shoot straight up for a level,yes there will be an impulse wave, but that too will contain corrective waves, so I don't see scenario 3 happening like that. Your lines has no end points, 1.3380/4 is where I'll start looking for reversal patterns. Sometimes price extends, so I look for continuation for a possible double top.

Scenario 4 is how price will likely move before it breaks out. I trade structure within structure, so I target key areas for TP's as price moves.

Hope this helps.

Trade safe
Guz
Charts don't drive price, market conditions drive price...
  • #511,151
  • Feb 7, 2020 8:01am Feb 7, 2020 8:01am
a very difficult day for day traders...watch closely the opening price of 8:30 bar (NY time)...
Attached Image (click to enlarge)
Click to Enlarge Name: GU 02.07.30M.png Size: 89 KB
Always trade your own plan...I don't provide trading signals.
  • #511,152
  • Feb 7, 2020 8:03am Feb 7, 2020 8:03am
Quoting Guztro
{quote} Good point ozalid, there is however a good balance between technical and fundamental analysis required to become a successful trader. As much as it's nice drawing lines on a chart, not understanding how news or economic data will influence things remains the key reason why many traders fail. Trade safe Guz
Hi Guz,
Would it be possible for you to elaborate on this a bit?

I always read your posts with much attention, as many times you correctly predicted GU behaviour, and some of your calls were surprising to me but proved to be right almost to the pip.

However, as much as I would like to see GU move back to 1.33-1.34 area, I do feel that fundamentals stack up against the pound, and possible news are likely to move GBP down rather than up. This is especially true for the all-important news related to the UK-EU trade deal, as the political entities are now firmly on a collision course. So the pound probably has 3-4 weeks at best to rebound until trade negotiation start in earnest and invariably start pulling GBP down, and it really does look like a tall task from where we are now. What am I missing here?

Thanks,
VM
  • #511,153
  • Feb 7, 2020 8:07am Feb 7, 2020 8:07am
Quoting Moty
again daily pivot , but this time it will break . i aiming for not greedy tp , daily r1 1.29784 {image} {image} {image} {image}
Do not fight with this PA.

I closed all my trades.

Just watching if anything extraordinary the PA will do.

But still dancing.

38 pips day.

Intraday only.
  • #511,154
  • Feb 7, 2020 8:08am Feb 7, 2020 8:08am
Quoting navk
{quote} Do not fight with this PA. I closed all my trades. Just watching if anything extraordinary the PA will do. But still dancing. 38 pips day.
Yes. Sure i just do.it
  • #511,155
  • Feb 7, 2020 8:09am Feb 7, 2020 8:09am
lol im not just saying it ,forgot moving average your looking at very nice PA ,
which will close bearish ,all patterns drawn up are wrong

The only question is if its in this range or lower

Quoting msniper
{quote} hehe very possible GBP they love to close red every Friday usually
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #511,156
  • Feb 7, 2020 8:10am Feb 7, 2020 8:10am
I think the range will extend to downside
Intraday only.
  • #511,157
  • Feb 7, 2020 8:12am Feb 7, 2020 8:12am
there's no question at all probability through the roof
buying a bearish Monthly down to h4 for target above 12970
is madness today ,
Maybe next week it would retrace
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #511,158
  • Feb 7, 2020 8:14am Feb 7, 2020 8:14am
this time expecting a lethal blow to the 2921 support for 2904 or low plays, eurusd to play below 1.0940
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #511,159
  • Feb 7, 2020 8:16am Feb 7, 2020 8:16am
h4 is under that line it never hit before
I gave 2 options side or down ,because of the weekly


Quoting Bones
payroll good ,you cannot change the weekly that looks like that, that was true yesterday {quote} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 55 GBPUSD-4-hours.png Size: 29 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #511,160
  • Feb 7, 2020 8:17am Feb 7, 2020 8:17am
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 35 KB
Attached Image (click to enlarge)
Click to Enlarge Name: dx.png Size: 34 KB
yes yes yes
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