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Cable Update (GBPUSD)

  • #520,961
  • May 17, 2020 11:18am May 17, 2020 11:18am
Quoting Georginson
{quote} Wow I'm glad about the incisive nature of your analysis, it is worth paying much attention to. Check year 2013 monthly chart, you will see a decline of 1500 pips from January to March, then a retracement from that same March to April before 600 pips fall in May and about 200 pips retracement that same May. This 2020 so far has seen a decline of 1800 pips from January to March, then a retracement from that same March to April, now a potential 600 pips fall in this May (1.2599 - 600pips) = 1.2000, then 200 pips retracement will likely follow...
Please can you share more info on how you read the year chart price movement? thanks
Le$$ I$ More
  • #520,962
  • May 17, 2020 11:32am May 17, 2020 11:32am
Quoting navk
when the price is below 200 ema in 15 min chart, the price always fell down. When the price is above 200 ema in 15 min chart, the price went up. see the chart on 8 th may clear examples. Only dicipline is needed
what time frame is the best to use with this emas .....15 mins is the best time frame for this?
  • #520,963
  • May 17, 2020 11:35am May 17, 2020 11:35am
Quoting princiano
{quote} what time frame is the best to use with this emas .....15 mins is the best time frame for this?
trend is daily and hourly chart.

entry 15 min chart
Intraday only.
  • #520,964
  • May 17, 2020 11:35am May 17, 2020 11:35am
Quoting navk
and look at daily chart, hourly chart. every where it is bearish !! {image} {image}
Navk, what pivots are you using? camarilla monthly?
  • #520,965
  • May 17, 2020 11:45am May 17, 2020 11:45am
Quoting hocius
{quote} Navk, what pivots are you using? camarilla monthly?
daily pivots to trade daily.

weekly pivots to trade weekly.

monthly pivots to trade monthly
Intraday only.
  • #520,966
  • May 17, 2020 11:46am May 17, 2020 11:46am
Quoting shakmoney
{quote} can you tell me how to set this up on my chart? What do I need to do
this is very basic thing. If you do not know, try only in demo.
Intraday only.
  • #520,967
  • May 17, 2020 11:57am May 17, 2020 11:57am
Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #520,968
  • May 17, 2020 12:59pm May 17, 2020 12:59pm
Quoting Roszey
{quote} Please can you share more info on how you read the year chart price movement? thanks
I work with monthly ranges to get yearly ranges.... Example Present year 2020

2020
OPEN 1.3209
HIGH 1.3230 (January)
LOW 1.2409 (March)
1.3230 - 1.1409 = 1819 pips range so far

2019
OPEN 1.2729
HIGH 1.3514 (December)
LOW 1.1958 (September)
1.3514 - .1958 = 1556 pips range.

2018
OPEN 1.3520
HIGH 1.4375 (April)
LOW. 1.2475 (December)
1.4375 - 1.1475 = 1900 pips range

2017
OPEN 1.2339
HIGH 1.3658 (September)
LOW 1.1986 (January)
1.3658 - 1.1986 = 1672 pips range


Key Notes:
There are similarities in these ranges, despite different exchange rates.
The exchange rates have all moved above and below the opening prices by 250 pips or more to as far back as 2010
This 2020 the exchange rate is yet to move above the opening price by 250 pips, so prepare to see 1 3460 - 1.3500 before year end

This is a research work not an advise for anyone to use except if you find it useful.

Cheers!
Data + Stat + Risk/Emotions Management
  • #520,969
  • May 17, 2020 1:03pm May 17, 2020 1:03pm
Quoting Georginson
{quote} I work with monthly ranges to get yearly ranges.... Example Present year 2020 2020 OPEN 1.3209 HIGH 1.3230 (January) LOW 1.2409 (March) 1.3230 - 1.1409 = 1819 pips range so far 2019 OPEN 1.2729 HIGH 1.3514 (December) LOW 1.1958 (September) 1.3514 - .1958 = 1556 pips range. 2018 OPEN 1.3520 HIGH 1.4375 (April) LOW. 1.2475 (December) 1.4375 - 1.1475 = 1900 pips range 2017 OPEN 1.2339 HIGH 1.3658 (September) LOW 1.1986 (January) 1.3658 - 1.1986 = 1672 pips range Key Notes: There are similarities in these ranges, despite different exchange rates....
Georginson, may I know how long have you been trading with monthly and weekly ranges?
  • #520,970
  • May 17, 2020 1:08pm May 17, 2020 1:08pm
Quoting hocius
{quote} Georginson, may I know how long have you been trading with monthly and weekly ranges?
Started trading in 2007 but started using these ranges since 2011.
Data + Stat + Risk/Emotions Management
  • #520,971
  • May 17, 2020 1:33pm May 17, 2020 1:33pm
No more gap.
https://www.ig.com/en/indices/market...ekend%20GBPUSD

It will be more reliable in about 1 hour, when even XE starts showing numbers closer to reality.
Everyone can see the chart, but only a few can actually read it.
  • #520,972
  • May 17, 2020 2:33pm May 17, 2020 2:33pm
Attached Image (click to enlarge)
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anybody think that tl is possible
  • #520,973
  • Edited 3:03pm May 17, 2020 2:36pm | Edited 3:03pm
Quoting de5151
{quote} Just about everyone in the world is short or getting short on this -- it seems. Do you think the market makers are going to miss this opportunity to take price up and take out everyone's stops who are short? They never miss a trick. I say this is going up sharply to take out tons of stops $$$ before crashing down.
Data shows most are long.
Long since up high.
Compulsions can be hard to resist
  • #520,974
  • May 17, 2020 2:39pm May 17, 2020 2:39pm
Quoting trumps
Patterns are broken. Support is broken. Now is not the time to be hopeful. {image} {image}
Maybe a retrace to broken support, then down more.
Compulsions can be hard to resist
  • #520,975
  • May 17, 2020 3:09pm May 17, 2020 3:09pm
@navk thanks for the trading system. It is too late for me to recover this account again. Xe.com is showing gap down. It is going to be very difficult for me going forward from here. Trading is not the issue for me but how on earth can I recover this funds. It is a lost lost situation for me.

Price has exceeded 15 pips from 1.1204 to liquidate my position to zero equity. I was in a buy

I played myself. In my next life, I will strictly follow my business strategy (not necessarily forex) and apply the best money management. I will learn not to trust no one to avoid being scammed. See you later
  • #520,976
  • May 17, 2020 3:26pm May 17, 2020 3:26pm
Quoting silolo
@navk thanks for the trading system. It is too late for me to recover this account again. Xe.com is showing gap down. It is going to be very difficult for me going forward from here. Trading is not the issue for me but how on earth can I recover this funds. It is a lost lost situation for me. Price has exceeded 15 pips from 1.1204 to liquidate my position to zero equity. I was in a buy I played myself. In my next life, I will strictly follow my business strategy (not necessarily forex) and apply the best money management. I will learn not to trust...
No offense, but how can you struggle to earn $200 in Finland?
Everyone can see the chart, but only a few can actually read it.
  • #520,977
  • May 17, 2020 3:26pm May 17, 2020 3:26pm
Quoting trumps
{quote} Data shows most are long. Long since up high.
Please confirm the source of the data.

https://www.tradingster.com/cot/legacy-futures/096742

I don't see the long data in COT report the commercial traders are never considered while reading the data. Mostly take the positions to hedge their goals.

Please advise based upon your information. How you are interpreting the data.
  • #520,978
  • May 17, 2020 3:37pm May 17, 2020 3:37pm
As a swing trader, I am bearish GBPUSD this week. Technicals and the order flow context on the H4 time frame still favour bears. We may see a further bearish move, perhaps to target the 1.20100 horizontal support area, before any pullback. Nevertheless, I am not trading this pair until I see a feasible setup at a value area on the daily time frame.


I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #520,979
  • May 17, 2020 3:39pm May 17, 2020 3:39pm
Quoting sherazali
{quote} Please confirm the source of the data. https://www.tradingster.com/cot/legacy-futures/096742 I don't see the long data in COT report the commercial traders are never considered while reading the data. Mostly take the positions to hedge their goals. Please advise based upon your information. How you are interpreting the data.
Myfxbook and Forex Factory both show majority long
Compulsions can be hard to resist
  • #520,980
  • May 17, 2020 3:42pm May 17, 2020 3:42pm
Quoting OnlineAddict
{quote} No offense, but how can you struggle to earn $200 in Finland?
I lost $35,000 to online scam some years ago that literally rendered me a sucker. It is a cold world. If I eventually take my life I did it because of the scam and not the $200
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