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Cable Update (GBPUSD)

  • #512,241
  • Feb 19, 2020 8:11am Feb 19, 2020 8:11am
Quoting Coreg2004
DX is in the potential time window for reversal, Mr. Time will tell if this happens... {image}


Attached Image (click to enlarge)
Click to Enlarge Name: DXY_H0H1.png Size: 23 KB


Follow The Markets Structure - Patience and Discipline
  • #512,242
  • Feb 19, 2020 8:19am Feb 19, 2020 8:19am
Quoting gespiri
{quote} DANG, C2004!!! You are right on the money!!
gespiri, thanks, most likely 1000's of traders had seen this coming that's why we had such a strong reaction off this level...that's what I think.
Always trade your own plan...I don't provide trading signals.
  • #512,243
  • Feb 19, 2020 8:47am Feb 19, 2020 8:47am
Quoting Robinhood1
{quote} targets become still better. going up 1st 13168 and 2nd coming down to 12773
as it stands right now target is 13213 and will short from there to around 12030
POSTMASTER
  • #512,244
  • Feb 19, 2020 9:06am Feb 19, 2020 9:06am
Quoting Robinhood1
{quote} as it stands right now target is 13213 and will short from there to around 12030
And this is why i never use stoplosses orders. just wait for it to go my way knowing where my target is
POSTMASTER
  • #512,245
  • Feb 19, 2020 9:09am Feb 19, 2020 9:09am
major level broke ,weekly false ,if it breaks down V bearish ,but it doesn't have to ,read weekly now
no to double bottom

Quoting Bones
It fits my view, tho I'm not a patterns expert and seen many such types fail that fits all criteria of h&s as far as I know. Only thing I could say is its not in fresh air , look left. down then up medium-term, all I need next is a W1 candle that does not go over 3100, It can be a consolidation type or straight bear and does not have to take last week low. If it's right bunching like that with random moves can produce a runner even in a tight channel It's not easy to turn such a bullish move tho some high TF have corker long wick candles to the...
Attached Image (click to enlarge)
Click to Enlarge Name: 1vGBPUSD-Daily.png Size: 49 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #512,246
  • Feb 19, 2020 9:26am Feb 19, 2020 9:26am
no longs for me until I see 12345 pattern completed in BC leg...without it GU is still vulnerable to the downside.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 02.19.30M.b.png Size: 76 KB
Always trade your own plan...I don't provide trading signals.
  • #512,247
  • Feb 19, 2020 9:38am Feb 19, 2020 9:38am
Quoting Coreg2004
no longs for me until I see 12345 pattern completed in BC leg...without it GU is still vulnerable to the downside. {image}
still wonder if this is GU tanking or again a false break to the bottom as the Dollar is spiking heavy..
  • #512,248
  • Feb 19, 2020 9:44am Feb 19, 2020 9:44am
Quoting krst8
{quote} still wonder if this is GU tanking or again a false break to the bottom as the Dollar is spiking heavy..
krst8, when I am in doubt I always refer to higher TF
Attached Image (click to enlarge)
Click to Enlarge Name: GU 02.19.daily.png Size: 139 KB
Always trade your own plan...I don't provide trading signals.
  • #512,249
  • Feb 19, 2020 9:53am Feb 19, 2020 9:53am
Quoting Coreg2004
{quote} krst8, when I am in doubt I always refer to higher TF {image}

That elliott wave stuff will kill your account , general theory is good

Look like 26 was stops going from buyers entering at the 40 low, they must have seen that as a reversal point
Follow The Markets Structure - Patience and Discipline
  • #512,250
  • Feb 19, 2020 10:03am Feb 19, 2020 10:03am
Quoting Coreg2004
no longs for me until I see 12345 pattern completed in BC leg...without it GU is still vulnerable to the downside. {image}
i am mostly basing from daily to weekly. But as your chart there, i dont see it anymore in the larger timeframe where this is going.

yes indeed, my initial view was that bat pattern, but it never broke down in end of January as i was “expecting”. Since then i only scalp on this pair as it has been costly to keep long term swap with this pairs not going anywhere soon in guess...

anyhow, the pairs correlation to dollar is there only from time to time. As of now i feel this corona virus and very strong dollar increase make it more clear that GU will not fall, if they find for example a medication against the flu in a few weeks, or morover that the spring summer soon will come to china and nore natural limit the virus, the dollar will fall and get weaker...
  • #512,251
  • Edited 11:41am Feb 19, 2020 10:13am | Edited 11:41am
Quoting pipfarm
{quote} That elliott wave stuff will kill your account , general theory is good Look like 26 was stops going from buyers entering at the 40 low, they must have seen that as a reversal point
pipfarm, I am a stubborn person, if something works for me I will continue using it until proven otherwise...As you see on my charts I apply only basic principles of EW, the rest is harmonic patterns, weekly/daily range. I know what you are talking about in regards to EW, people are so preoccupied with the labeling of waves that they don't see other patterns emerge...I try to keep an open mind knowing (and repeating to myself) that other patterns are in the making "behind the scene". Thanks for the warning.
Always trade your own plan...I don't provide trading signals.
  • #512,252
  • Feb 19, 2020 10:25am Feb 19, 2020 10:25am
this weekly last week is false without any doubt at all
It confirmed the tl ,note the tl is not wacky or personal ,that matters and why people don't trust them
now the only question in my mind is if it breaks the low this week

Quoting Bones
ok lets have a little look how this one opened {image}
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-Weekly.png Size: 54 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #512,253
  • Feb 19, 2020 10:30am Feb 19, 2020 10:30am
Quoting krst8
{quote} i am mostly basing from daily to weekly. But as your chart there, i dont see it anymore in the larger timeframe where this is going. yes indeed, my initial view was that bat pattern, but it never broke down in end of January as i was “expecting”. Since then i only scalp on this pair as it has been costly to keep long term swap with this pairs not going anywhere soon in guess... anyhow, the pairs correlation to dollar is there only from time to time. As of now i feel this corona virus and very strong dollar increase make it more clear that...
krst8, I don't believe I am smart enough to analyze other factors during the trading day (on the fly), that's why I concentrate on the charts. If I have the pattern I will take it, accept the risk, set the profit target, SL and so on. This comes out from the belief that human behavior is on the chart.
Always trade your own plan...I don't provide trading signals.
  • #512,254
  • Feb 19, 2020 10:44am Feb 19, 2020 10:44am
Quoting Almo2312
Still waiting with patience for my target 1.287x. Trade safe.
Thanks to GOD!.
patience is the key nothing more!!!
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Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #512,255
  • Feb 19, 2020 10:49am Feb 19, 2020 10:49am
I`ll try to make assumption that coronavirus is the same sympthoms like a flu, such as headaches, cough, high temprature, dyspnea, sense of chest compression and etc... so I assume that from the first days of springs and temprature increases around the world the coronavirus will back off and the market will rebalance positions, just thoughts... maybe totally wrong of course.
  • #512,256
  • Feb 19, 2020 11:18am Feb 19, 2020 11:18am
Quoting ZenNy
2890 today?
nearly....
trading is simple but is simple is not easy.
  • #512,257
  • Feb 19, 2020 11:35am Feb 19, 2020 11:35am
Potential revarsal at 1.29041 area
Attached Image (click to enlarge)
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yes yes yes
  • #512,258
  • Feb 19, 2020 12:32pm Feb 19, 2020 12:32pm
Quoting photoshop
GBPUSD looks like retracing and in a new bull trend. what do you think? {image}
New.... Bull????... Trend?

What did you guys smoke??

Noo honestly!!! I wanna what you smoke!!!!??
Beware of robber banks (RB), bad advisors.
  • #512,259
  • Feb 19, 2020 12:33pm Feb 19, 2020 12:33pm
Quoting Tortoisetrad
Definitely in a bull trend, double bounce at 1.200 area, i have been long for a while with a small lot swing trade,... take profit around 1.35.... rt.


New.... Bull????... Trend?

What did you guys smoke?? Please

Noo honestly!!! I wanna what you smoke!!!!??

100 pips drop
Beware of robber banks (RB), bad advisors.
  • #512,260
  • Feb 19, 2020 1:27pm Feb 19, 2020 1:27pm
Quoting Moty
Potential revarsal at 1.29041 area {image}
GU is heading south. 1.278level-1.25level- 1.237level
Make it Green
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