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Cable Update (GBPUSD)

  • #532,961
  • Jul 5, 2020 6:32am Jul 5, 2020 6:32am
Quoting Stefan90csk
{quote} Are you counting the hours before the open?

Compulsions can be hard to resist
  • #532,962
  • Jul 5, 2020 6:38am Jul 5, 2020 6:38am
i see a negative divergence in gbp pairs.
but due to Friday’s bank holiday, it will probably not be taken into account.
  • #532,963
  • Jul 5, 2020 7:06am Jul 5, 2020 7:06am
Hello fellow traders,

I made my analysis for the next week and here is what I see:

15 min - I see a channel forming to the upside, but lets see if it will hold in the coming week.

30 min - The 30 min chart on the other hand is showing a bearish Gartley pattern.

1h - I don't see anything specific there. It is sideways.

4h - It's maybe trying to form an up trend. This scenario will develop during the week.


Conclusion: This week I'm bullish on the pound. My target is at least 1.25360, hopefully Monday. Ofc everything can change during the week.

Good luck and stay green!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15min Channel.jpg Size: 241 KB
Click to Enlarge Name: 30min Gartley.jpg Size: 234 KB
Click to Enlarge Name: 4h channel.jpg Size: 309 KB
Patience and Discipline.
  • #532,964
  • Jul 5, 2020 7:40am Jul 5, 2020 7:40am
great stuff as always Stefan!
  • #532,965
  • Jul 5, 2020 7:47am Jul 5, 2020 7:47am
Quoting tiborf71
i see a negative divergence in gbp pairs. but due to Friday’s bank holiday, it will probably not be taken into account.
On my osc settings I see regular bearish div on 5min and 10min at the hi just before friday's close...but also reg bullish div 30min/1hr at friday's lo - and some may argue also hidden bullish div at fri's lo on 2hr (personally I measure hidden bullish div from osc valley-valley so for me it is negligible but I could see why others may argue it is there.)
Trader with an Edge.
  • #532,966
  • Jul 5, 2020 8:00am Jul 5, 2020 8:00am
Quoting Headland
{quote} On my osc settings I see regular bearish div on 5min and 10min at the hi just before friday's close...but also reg bullish div 30min/1hr at friday's lo - and some may argue also hidden bullish div at fri's lo on 2hr (personally I measure hidden bullish div from osc valley-valley so for me it is negligible but I could see why others may argue it is there.)
the divergence has either 20 variants, depending on what indicator we measure.
i don't use macd, rsi, cci, stoch, and a lot of shit like that.
  • #532,967
  • Jul 5, 2020 8:07am Jul 5, 2020 8:07am
Quoting tiborf71
{quote} the divergence has either 20 variants, depending on what indicator we measure. i don't use macd, rsi, cci, stoch, and a lot of shit like that.
I've considered removing the RSI indicator, it keeps me out of trades I would usually take etc. Besides stuff like divergence I only really see a use on larger timeframes.
  • #532,968
  • Jul 5, 2020 8:17am Jul 5, 2020 8:17am
Quoting trumps
{quote} Are they 50sma high and low Moty?
yes
yes yes yes
  • #532,969
  • Edited 8:33am Jul 5, 2020 8:22am | Edited 8:33am
Just did some excercise.

All TF showing up trend.

Dips are to be bought.

For me only.

I rely more on m15 and with H1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 28 KB
Click to Enlarge Name: GBPUSDM15.png Size: 38 KB
Click to Enlarge Name: GBPUSDM30.png Size: 37 KB
Click to Enlarge Name: GBPUSDH1.png Size: 28 KB
Click to Enlarge Name: GBPUSDH4.png Size: 32 KB
Intraday only.
  • #532,970
  • Edited 10:45am Jul 5, 2020 9:14am | Edited 10:45am
Quoting tiborf71
{quote} the divergence has either 20 variants, depending on what indicator we measure. i don't use macd, rsi, cci, stoch, and a lot of shit like that.

Absolutely - indicators have a whole load of settings but this doesn't mean that you cannot find one appropriate to the market conditions you wanna trade (range, trend or both) that does not add to an existing edge or indeed be an integral part of one. My own edge includes one of 3 'types' of osc div in all but one of it's repeating set-ups - regular, hidden and one other div type that I shall not discuss here as it is proprietary to my edge. In one of the 'types' there are 2 distinct classifications. So, div can be a useful tool if you have proven it's usefulness [or not] on the settings you choose over a large total sample (s) size.
Trader with an Edge.
  • #532,971
  • Jul 5, 2020 9:27am Jul 5, 2020 9:27am
Brother NAVK can you share session indicator
  • #532,972
  • Jul 5, 2020 9:27am Jul 5, 2020 9:27am
Due to NY holiday on Friday, I did not trade.

Some 30 pips could have been scored if I had traded.
Attached Image (click to enlarge)
Click to Enlarge Name: OctaFX.png Size: 84 KB
Intraday only.
  • #532,973
  • Jul 5, 2020 9:29am Jul 5, 2020 9:29am
Quoting wasay
Brother NAVK can you share session indicator
check market panel indicator
https://www.forexfactory.com/showthr...8#post10905018
Intraday only.
  • #532,974
  • Jul 5, 2020 9:37am Jul 5, 2020 9:37am
Quoting navk
Just did some excercise. All TF showing up trend. Dips are to be bought. For me only. I rely more on m15 and with H1 {image} {image} {image} {image} {image}
"I rely more on m15 and with H1" - As a day trader you should also use H4. So M15, H1 and H4.
  • #532,975
  • Jul 5, 2020 9:43am Jul 5, 2020 9:43am
Anybody have MM indicator/ea?
Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 48 KB
  • #532,976
  • Jul 5, 2020 9:59am Jul 5, 2020 9:59am
Maybe someone in the know can comment on this, but from what I can see from the COT data, the big boys are now very short on GBP which means that most crosses will "crush" the GBP this week -- most likely.
  • #532,977
  • Edited 10:17am Jul 5, 2020 10:05am | Edited 10:17am
If the bulls break the high of the resistance of 1.27196 in H4, then they have a really good chance to be back in control. Of course you should observe the momentum to confirm it. It's more from a day traders perspective. But I assume they'll make a new high in H4. It seems they wanna retest the resistance from 03/09/20. Where the massive drop off began. But there is a zone in the way at 1.29500 and at 1.30500, that could be the new high for then. I don't hope that the bears break below the support zone low at 1.21615. In this case the bears would "proof" to me that they are really in control. But also here is the momentum important, like with the buyers. What do you think?

Edit: Why do you guys talk so much (too much for my taste) about indis and other off topics in this thread?
  • #532,978
  • Jul 5, 2020 10:34am Jul 5, 2020 10:34am
Quoting de5151
Maybe someone in the know can comment on this, but from what I can see from the COT data, the big boys are now very short on GBP which means that most crosses will "crush" the GBP this week -- most likely.
I was studying the COT from last week a bit. I noticed 6 out of 7 price went down after reaching this particular level of shorts for the first time. Monday and part of Thueday were the days. Dont know from here. Likely covid developments in the States decide direction next week again. I noticed as well price was flying immideately when the more positive headlines hitting the wires(rare)..

The more easing measures in the UK regarding covid might also be some reason for price as a positive
Life is great!!
  • #532,979
  • Jul 5, 2020 10:48am Jul 5, 2020 10:48am
How come all comments my friend are blocked here all the time?

https://www.forexfactory.com/pinotnoir
Life is great!!
  • #532,980
  • Jul 5, 2020 10:50am Jul 5, 2020 10:50am
Hello,

Been following your charts with interest. What indicators are you using for these weekly pipranges, highs and lows if I may ask?

Quoting Roszey
Looks like a double top forming. The price might visit the week's high again before falling. Just my thought. {image}
Many thanks!
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