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Cable Update (GBPUSD)

  • #526,901
  • Jun 10, 2020 1:58pm Jun 10, 2020 1:58pm
Quoting Student21
{quote} With all due respect, what should we expect from this butterfly?
This gives a sell signal, but it must also be integrated with the support & resistant method to know whether it is valid or not
https://investizo.com/investment/view?server=1&login=2141779119
  • #526,902
  • Jun 10, 2020 2:03pm Jun 10, 2020 2:03pm
Closed my short at 42 pips
i love money
  • #526,903
  • Jun 10, 2020 2:07pm Jun 10, 2020 2:07pm
Quoting Siame
It appears the Bullrun is over. I may be wrong. Waiting for 1.2750 to go SHORT.

SHORT 1.27511
  • #526,904
  • Jun 10, 2020 2:11pm Jun 10, 2020 2:11pm
Quoting Moty
{image} {image}
Appreciate ur guts. happy for you brother.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #526,905
  • Jun 10, 2020 2:11pm Jun 10, 2020 2:11pm
when the index broke the 96 at 1/3 point I had already given up,
but look how it came back. If tomorrow it breaks the high of the day
it will be a short trend on the Pound trend
Attached Image (click to enlarge)
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i am at be
Attached Image (click to enlarge)
Click to Enlarge Name: gu15.png Size: 38 KB
yes yes yes
  • #526,906
  • Jun 10, 2020 2:14pm Jun 10, 2020 2:14pm
Quoting sgkrishn
{quote} What will you say if it raise above 100 in balance days this months.
If USD goes above 100, and GBPUSD turned bearish, and I get a confirmed signal to short,

then I will short.

Personally, I rarely get confused about why a pair is moving in a certain direction, because I trade off levels and PA.

If I were to consider fundamentals, I would need to consider these aspects for GBP and USD.

We also needs to consider if a currency is relatively cheap or expensive, based on current and projected outlook.
Because an outlook is not good, doesn't mean a new long term trend is about to form. These outlooks are often projected beforehand and priced in.
Compulsions can be hard to resist
  • #526,907
  • Jun 10, 2020 2:16pm Jun 10, 2020 2:16pm
Quoting Moty
when the index broke the 96 at 1/3 point I had already given up, but look how it came back. If tomorrow it breaks the high of the day it will be a short trend on the Pound trend{image} i am at be{image}
The DXY has to retrace at least 50% of the down move before continuing.
Le$$ I$ More
  • #526,908
  • Jun 10, 2020 2:17pm Jun 10, 2020 2:17pm
Quoting Student21
{quote} With all due respect, what should we expect from this butterfly?
Have you not heard of the Butterfly Effect?
https://en.wikipedia.org/wiki/Butterfly_effect

Compulsions can be hard to resist
  • #526,909
  • Jun 10, 2020 2:21pm Jun 10, 2020 2:21pm
Quoting dondealova
{quote} This gives a sell signal, but it must also be integrated with the support & resistant method to know whether it is valid or not
Your charts remember me from some dude investing.com; looks very similar. Does look quite good taking a bit the averages for trends out

Good job!
Life is great!!
  • #526,910
  • Jun 10, 2020 2:23pm Jun 10, 2020 2:23pm
Quoting trumps
{quote} Have you not heard of the Butterfly Effect? https://en.wikipedia.org/wiki/Butterfly_effect
: D have heard about harmonics and it seems rather cool..but is a bit hard to see the PA from it, no disrespect of course
A trader is as good as his stop loss. Understand your mistakes.
  • #526,911
  • Jun 10, 2020 2:26pm Jun 10, 2020 2:26pm
Quoting Student21
{quote} : D have heard about harmonics and it seems rather cool..but is a bit hard to see the PA from it
Fuzzy lol, I called the other dude on other forum just butterfly sometimes )

He was cheating on his drawings many times but couldnt cheat on his broker I asume(..)
Life is great!!
  • #526,912
  • Jun 10, 2020 2:29pm Jun 10, 2020 2:29pm
Quoting Student21
{quote} : D have heard about harmonics and it seems rather cool..but is a bit hard to see the PA from it, no disrespect of course
I like harmonics, particularly for this pair.
Needs to be integrated with support and resistance also.
Compulsions can be hard to resist
  • #526,913
  • Jun 10, 2020 2:32pm Jun 10, 2020 2:32pm
On different timeframes, there are BATS in BUTTERFLY's in CRABS in DRAGONS.

It's all quite unnatural...
Compulsions can be hard to resist
  • #526,914
  • Jun 10, 2020 2:38pm Jun 10, 2020 2:38pm
Quoting trumps
On different timeframes, there are BATS in BUTTERFLY's in CRABS in DRAGONS. It's all quite unnatural...
Before you know you see gohsts evrywhere

Life is great!!
  • #526,915
  • Jun 10, 2020 2:41pm Jun 10, 2020 2:41pm
Is 10 bullish candles in a row is the longest rise ?

I only can see 7 over the past decade
COT: The precious data ignored
  • #526,916
  • Jun 10, 2020 2:41pm Jun 10, 2020 2:41pm
Quoting despichtt
{quote} Before you know you see gohsts evrywhere
And weird offspring
Compulsions can be hard to resist
  • #526,917
  • Jun 10, 2020 2:58pm Jun 10, 2020 2:58pm
Freak me I just TP on the forst pivot, now looking gold again, realy still flyink. Cable gone flat for the whole krep now again
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Life is great!!
  • #526,918
  • Jun 10, 2020 2:59pm Jun 10, 2020 2:59pm
Quoting trumps
{quote} We also needs to consider if a currency is relatively cheap or expensive, based on current and projected outlook.
GBP is coming off a low of 1.14 against the USD.
With BOTH economies struggling under weight of pandemic and instituting low interest rates, I would think a market re-balance is in order, and it is happening now.
Compulsions can be hard to resist
  • #526,919
  • Jun 10, 2020 3:10pm Jun 10, 2020 3:10pm
Quoting Student21
{quote} : D have heard about harmonics and it seems rather cool..but is a bit hard to see the PA from it, no disrespect of course
spot on Student21
identifying harmonics isn' t that easy..very true
gartleys, bats. etc i dont trade these patterns ( ok,posted a few )
focus on pivots, support and resistent levels, EWP.,
  • #526,920
  • Jun 10, 2020 3:24pm Jun 10, 2020 3:24pm
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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yes yes yes
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