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Cable Update (GBPUSD)

  • #518,421
  • Apr 30, 2020 11:53am Apr 30, 2020 11:53am
it's a very flawed idea ,not being rude
You have 2 trades short now ,all that number is the monthly open on the end of a 1000 pip wick and a 1000 pip drop
It's also 50% of the last Q range as you point out but really thats a minor point. Not tradable on its own.

Its minor reasoning, but you been on to something by chance
Quoting Bartosz77
{quote} You can set TP for that transaction @ 1.24050 - it will get closed early next week with profit.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #518,422
  • Apr 30, 2020 12:01pm Apr 30, 2020 12:01pm
Attached Image (click to enlarge)
Click to Enlarge Name: A9C47E1E-BF94-45B3-B93C-B4F6B092877B.png Size: 281 KB
As above target hit so buy but watch for confirming high on the line for possibly shorting
  • #518,423
  • Apr 30, 2020 12:11pm Apr 30, 2020 12:11pm
you need something to have reasoning other than a number ,otherwise it may never go back for a long time
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-Monthly.png Size: 52 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #518,424
  • Apr 30, 2020 12:16pm Apr 30, 2020 12:16pm
Quoting Georginson
{quote} This is most likely the beginning of a new trend down. Weekly range already done at 280 pips which happens to be a coincidence of April 14 high. 4 hours RSI crossed 73 region which 90% of the time shows reversal is imminent. May is very much around the corner with its likely to drop by at least 400 pips from the high registered this week... It all points at 1.22 - 1.23 region.
Dunno about you but I always had the 127.11 in sight (61.8% from Dec2019 high to Mar2020 low) which is still unfilled....
Lost....
  • #518,425
  • Apr 30, 2020 12:21pm Apr 30, 2020 12:21pm
its trapped this month, therefore its been all over that number of the open
12400 is middle of the immediate range

Quoting Bones
consolidation is seen , price is trapped between both moves so likely next week is in this range, Doji is a warning to bears any colour, especially a cross {quote} {image} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #518,426
  • Apr 30, 2020 12:30pm Apr 30, 2020 12:30pm
Quoting Bones
RIP=H&S {image}
H&S for me it will be out of the game if the price clearly exceeds the selected area. But that's just my opinion
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2020-04-30 at 19.21.50.png Size: 100 KB
  • #518,427
  • Apr 30, 2020 12:32pm Apr 30, 2020 12:32pm
you need read the rules then come back when your ready,how many false H&S patterns been posted in this thread today
Theres no such thing as for me

Quoting ozalid
{quote} H&S for me it will be out of the game if the price clearly exceeds the selected area. But that's just my opinion {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #518,428
  • Apr 30, 2020 12:34pm Apr 30, 2020 12:34pm
ok let me tell how to read it ,
This candle is bearish on print ,if it goes up next it will fail
Attached Image (click to enlarge)
Click to Enlarge Name: DX-Monthly.png Size: 32 KB
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  • #518,429
  • Apr 30, 2020 12:45pm Apr 30, 2020 12:45pm
during the formation is cable in a uptrend or downtrend ?
is it at a top location
Quoting ozalid
{quote} H&S for me it will be out of the game if the price clearly exceeds the selected area. But that's just my opinion {image}
Attached Image
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  • #518,430
  • Apr 30, 2020 12:55pm Apr 30, 2020 12:55pm
the basket is about location ,as is h&s
That long wick is into the highs ,then a doji cross right now
next month we can look what next ,what's the next candle look like

Quoting Bones
its about location what to believe imo super long wicks = aggression its not going higher without lower ,overall large range {image} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #518,431
  • Apr 30, 2020 1:02pm Apr 30, 2020 1:02pm
Quoting Bones
during the formation is cable in a uptrend or downtrend ? is it at a top location {quote} {image}
Ok, we won't understand each other for one reason. You draw nice patterns and watch them with curiosity but I do not know what you are looking for entry points to trade and what range interests you. For me, my trade is not a competition of the most beautifully drawn patterns, but the market's reaction to a probable pattern. What you show is the HS book pattern that I am not stubbornly looking for. The idea is enough for me. In my opinion, in this case, the bulls shot from blanks to shoot SL bears. It was not a decisive move to continue the increases, which can be seen in the upper shade of the H4 candle.
  • #518,432
  • Apr 30, 2020 1:20pm Apr 30, 2020 1:20pm
Attached Image (click to enlarge)
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it’s hedge make your mind up time . Emas on 5 min say up for now .
  • #518,433
  • Apr 30, 2020 1:25pm Apr 30, 2020 1:25pm
Quoting Bones
during the formation is cable in a uptrend or downtrend ? is it at a top location {quote} {image}
A currency with a very lopsided shoulder
Attached Image
  • #518,434
  • Apr 30, 2020 1:29pm Apr 30, 2020 1:29pm
no I'm not looking for a H+S exact replica ,but it has to meet the fundamental rule at a top or bottom
Thats how I knew it was false before it broke up out of that shoulder ,Its also how I know if it failed this space it would not be a double top
at all ,it only matters because what those patterns mean as appose to just failing that level

Quoting ozalid
{quote} Ok, we won't understand each other for one reason. You draw nice patterns and watch them with curiosity but I do not know what you are looking for entry points to trade and what range interests you. For me, my trade is not a competition of the most beautifully drawn patterns, but the market's reaction to a probable pattern. What you show is the HS book pattern that I am not stubbornly looking for. The idea is enough for me. In my opinion, in this case, the bulls shot from blanks to shoot SL bears. It was not a decisive move to continue the...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #518,435
  • Apr 30, 2020 1:39pm Apr 30, 2020 1:39pm
this level won't hold on a weekly ,
but that major one could be a problem, if you pray for hold here on a failed already pattern your lose
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-Weekly.png Size: 38 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #518,436
  • Apr 30, 2020 1:41pm Apr 30, 2020 1:41pm
the right shoulder can't equal the high surely you can see that
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  • #518,437
  • Apr 30, 2020 1:41pm Apr 30, 2020 1:41pm
Quoting mkvy
{quote} Buying at 1.2506 TP stop loss 1.2233. Profit about 600-1200o pips above good luck too
TP 1.33
  • #518,438
  • Apr 30, 2020 1:43pm Apr 30, 2020 1:43pm
Quoting Bones
this level won't hold on a weekly , but that major one could be a problem, if you pray for hold here on a failed already pattern your lose {image}
meaning this pattern is already failed, and heading up?
Trading is like fishing. Be patient and enjoy the fight.
  • #518,439
  • Apr 30, 2020 1:47pm Apr 30, 2020 1:47pm
it never failed because it never was ,you could draw a box that would be right

Quoting AbbeyRd
{quote} meaning this pattern is already failed, and heading up?
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  • #518,440
  • Apr 30, 2020 1:51pm Apr 30, 2020 1:51pm
Quoting Bones
it never failed because it never was ,you could draw a box that would be right {quote}
after we finish from H&S scenario we will start to hear about double top scenario hehe
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