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Cable Update (GBPUSD)

  • #513,361
  • Mar 6, 2020 10:22am Mar 6, 2020 10:22am
Quoting elbert3
Careful if it goes it might just pick up sell orders on the way home
Bounce area could be 2985 fail then 2945 1 min lower tl is around 3000
  • #513,362
  • Mar 6, 2020 10:44am Mar 6, 2020 10:44am
This is a daily intraday swing, trade from the 1 hour, price trended through 2918 resistance to 3018 resistance, what we should expect next is a retest around 2918 , from there it either trends back up to a new high or breaks down and carries on lower to 2780 support

Use the hourly intraday swing down trend through 2918 to confirm and trade the down move to 2780

or

Use the hourly intraday swing up trend from 2918 to trade and confirm the move back up to new highs above 3018
Follow The Markets Structure - Patience and Discipline
  • #513,363
  • Mar 6, 2020 11:01am Mar 6, 2020 11:01am
Quoting msniper
{quote} open daily and see the chart we never made any higher highs ! so the main trend is down not up until we make a higher high on daily then we can say bull in control
CWW done the target 304x.
you were right the setup was very powerful.
  • #513,364
  • Mar 6, 2020 11:08am Mar 6, 2020 11:08am
Quoting elbert3
{quote} Bounce area could be 2985 fail then 2945 1 min lower tl is around 3000
1 min trend line hit will it break and run
  • #513,365
  • Mar 6, 2020 11:08am Mar 6, 2020 11:08am
weekly chart, what I see
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2020-03-06 at 18.06.44.png Size: 121 KB
  • #513,366
  • Mar 6, 2020 11:12am Mar 6, 2020 11:12am
Quoting elbert3
{quote} 1 min trend line hit will it break and run
15 min doji on the line long is 3065 to break target should be 3100 .3017 could be watch number to stop that
  • #513,367
  • Mar 6, 2020 11:15am Mar 6, 2020 11:15am
Quoting Guztro
Looking at the weekly, all the levels where the bullish momentum failed was sparked by the Corona Virus, not fundamentals. Markets are faced with a biological crisis, which in my view caused this sell-off knee-jerk reaction. I closed my longs 60 pips before my stop loss, but because the market always self-corrects, I will be entering long again as the weekly bullish correction remains incomplete. On the fundamentals front, the late GBP bounce on Friday was caused by Powell's comments on a rate cut, which will result in an even more bullish pound....
450pips both ways, I'd call that a successful week. Next a pullback and I'm entering long again.

Cheers Everyone.
Guz
Charts don't drive price, market conditions drive price...
  • #513,368
  • Mar 6, 2020 11:26am Mar 6, 2020 11:26am
Quoting elbert3
{quote} 15 min doji on the line long is 3065 to break target should be 3100 .3017 could be watch number to stop that
It’s out 2997 and we might speed up . But it’s cable never take it for granted .
  • #513,369
  • Mar 6, 2020 3:22pm Mar 6, 2020 3:22pm
Quoting smikester
{quote} See you're knocking it out of the park with your Monday Tuesday strategy. Have you back-tested it at all?
Not much, just visually back a few weeks and forward live a couple of weeks

Didn’t make much this week but to be expected after huge moves the previous week.

And any system that doesn’t lose during a difficult week is awesome to me

A few amateur attempts at building an EA in the thread, that may help with backtest

At any rate, Fibonacci Tool is all you need, it’s real easy to add into what your doing now

Good luck, have a nice weekend
It takes a lot for me to IGNORE you, but you can try.
  • #513,370
  • Mar 6, 2020 4:32pm Mar 6, 2020 4:32pm
made up

Quoting ozalid
weekly chart, what I see {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #513,371
  • Mar 6, 2020 4:34pm Mar 6, 2020 4:34pm
Quoting Bones
3 white soldiers pattern {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 232 GBPUSD-Daily.png Size: 37 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #513,372
  • Mar 6, 2020 4:41pm Mar 6, 2020 4:41pm
Down soon.
Next week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDMonthly.png Size: 24 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 23 KB
  • #513,373
  • Mar 6, 2020 4:57pm Mar 6, 2020 4:57pm
Attached Image (click to enlarge)
Click to Enlarge Name: 00 GBPUSD-Weekly.png Size: 48 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #513,374
  • Mar 7, 2020 4:04am Mar 7, 2020 4:04am
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 29 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GU1.png Size: 32 KB
yes yes yes
  • #513,375
  • Mar 7, 2020 9:43am Mar 7, 2020 9:43am
Quoting Moty
{image}{image}
What kind of indicator are those lines on your chart ?
COT: The precious data ignored
  • #513,376
  • Mar 7, 2020 12:24pm Mar 7, 2020 12:24pm
Inserted Video
  • #513,377
  • Mar 7, 2020 1:48pm Mar 7, 2020 1:48pm
Quoting vikinsa
https://www.youtube.com/watch?v=ZNyR2dBBAFg&t=2s
This time market didn't follow your instructions... ---> 1.3000
WT
  • #513,378
  • Mar 7, 2020 2:46pm Mar 7, 2020 2:46pm
Quoting kuroro001
{quote} What kind of indicator are those lines on your chart ?
here
Attached File(s)
File Type: tpl pivot.tpl   11 KB | 241 downloads
File Type: mq4 Auto Pivots.mq4   31 KB | 268 downloads
File Type: mq4 BreakOut_PANCA_EAGLE__indicator.mq4   7 KB | 238 downloads
File Type: ex4 MA-in-Color_wAppliedPrice_v3.ex4   6 KB | 286 downloads
yes yes yes
  • #513,379
  • Mar 7, 2020 3:00pm Mar 7, 2020 3:00pm
Hy guys I have a question dose Anyone here think that the bank of England will cut interest rates due to increasing pressures from the US and also coronavirus Fears
  • #513,380
  • Mar 7, 2020 3:17pm Mar 7, 2020 3:17pm
Quoting Moty
{quote} here {file} {file} {file} {file}
Thanks mate
COT: The precious data ignored
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