Cable Update (GBPUSD)

More buyers lurking in

yup i agree with u thats why i am long in GU

any dip its a chance to buy

worst case scenario it dip to 1.2370 to make right shoulder then go up

but it can go up form now also without dipping

valid scenario to go down make right shoulder then head up

but i feel its hard to happen as going down might be dangerous and bulls might lose control if they go that low ( just opinion )

While dumb money pouring into shorts...

this is the low to me today.

2462.

If this breaks, it is heading to 2437

Long term is on your side, intraday is another story

Fair enough..

Made the chart with a bit of BO experience (hoping the same scenario happens)
The MM idea is to make bears think they are in charge then boom..

Having this in mind, MM will push it down and down ... they can cover 3 days of bear candles with just ONE long BULL daily candle.
This is just my thought and a bit of experience following the BO idea..

Let's see how it goes
StaySafe

everytime we close above the pink line its bullish and it goes up

so its just matter of time until bulls kick in

SL would be around 1.237x area any daily close below it the bull will be dead

This will take infect sometime in the week I think..
Only dumb money would actually buy here.. I am not just saying it, current PA is doing the fact

SS

That line is exacly where my Tp is at the moment since yesterday , if today we get a strong down today, tomorrow e might get the Bulls coming

Should be interesting..
If we manage to close the day below that first line, we might get the shoulder tomorrow..
It should be a KISS and GO situation.. (just my thoughts)

Let's see how they play it.
SS

Clean chart view with fibo monthly and weekly, wish price will break top range lvl.

Should come back to near 1.25,and drop again, looks like USD cad two weeks ago,small daily candles

I belive we can go to 1.24100 area , to be honest i just want the "down move" to be over -.-
SStill waiting for this , i think this a formation of a noice W pttern

The moni drop is here

I also can't wait TBH..
Bullish targets I have in mind are 1.29102 and a final stall target at 1.32596

You mentioned 1.27 area.. I think once the bull pick up, we going to exceed that..

PA is king, we can only speculate
StaySafe

bear need to break 1.2250 this week for ..u know what i mean

Retail very short though

My Tp will be around 1.27 area but if u right, i will probably buy a mini pullback in a way, i think if we pass 1.28..that level is going to be retest again probably will buy there if not a false breakout tho..

Or if bulls really come on cocaine 1.29... is a price to Tp

THE UNKNOWNS OF FOREX TRADING ( A PERSPECTIVE OF GBPUSD)
The alarming rate of losses in forex trading is worrisome, studies have shown that 75-85% of retail forex traders lose money.
We are all provided with arrays of analysis to evaluate in order to make our trading decisions. These analysis are TECHNICAL, FUNDAMENTAL and SENTIMENT analysis, which must all align to make good trading decisions.

We are still confronted with our own INTERNAL ANALYSIS which has to do with RISK AND EMOTIONS MANAGEMENT. In all we have 5 major Analysis to contend with and all must be accurately applied to stand a Chance of success.

Talking about TECHNICAL ANALYSIS, we are provided with many tools which spans from indicators, oscillators, lines, moving averages and the popular Japanese candle sticks. All these tools aid our buying/selling/EXITING decision making yet we still have inconsistencies in results, as they all have their flaws.

Since Technical table is visible representation of prices, we all apply the basic rules of BUY AT THE BOTTOM and SELL AT THE TOP. We all trade the prices in front of us and most of the time use different time frames to determine whether the price is at the Top, Middle or Bottom. What trader A sees as bottom price to be bought, trader B will see as Top price to be sold. I have seen several instances where the price will be extremely oversold and yet recover up a little and resume grinding lower, also seen many instances where the price will be extremely overbought and yet keep shooting up to heaven.

Since it is the PRICE PUZZLE we all want to solve and these time frames and tools provided to us are still having flaws, HOW DO WE SOLVE THE PROBLEM OF PRICE?

Talking about FUNDAMENTAL ANALYSIS which has to do with study of economic and political news which are invisible forces that prompt movement in the Technical Chat. Our renowned forexfactory website give their utmost best to inform us ahead of some major news release like Nonfarm, FOMC, BOE, CLAMANT COUNT CHANGE, BREXIT BREAKING NEWS, G7 MEETINGS etcetera which are some of the most influential news that sparks volatility.

The forecasts are mostly provided and some wild moves do occur during the releases.
In fact milliseconds before these releases, the BIG CORPORATIONS often pull the trigger with their algos and our not so friendly brokers will also increase their spread. Sometimes good data for the currency can lead to weakness of the currency which will come with intelligent explanation of 'BUY THE RUMOUR, SELL THE FACT' or 'ALREADY PRICED IN'.

Do we actually make our decisions on unpredictable outcome of the major news that sometimes move contrary to the readings and also get traded milliseconds before retail traders see the result?

Talking about SENTIMENT ANALYSIS, we are often confronted with market perception of the current price and noises as regards the next direction of the price. The views of Central Banks about their currency matter, the view of the opposing Central Bank about their currency also matter, each Central Bank will deliberately verbally or stealthily intervene into the currency market to meet their economic needs.
They hold currency meetings behind closed doors and sometimes reveal their dissatisfaction when they feel one of the members is deliberately weakening her currency, hence you start hearing about potential currency wars...

Retail traders also have Their perception about the level of the price which is usually known based on buying and selling percentage from one website/thread/broker/forum to the other. These perceptions directly and indirectly influence our decisions. The big question is whose PERCEPTION and SENTIMENT of the PRICE is relevant towards your DECISION MAKING?

Talking about RISK MANAGEMENT, a vital requirement which must be mastered to the fullest to guide against loss of capital and to keep profit. In a market that has daily trade volume of around $6 trillion, how much can your own capital influence the direction of the price? since prices are usually moved by volume of demand and supply forces, how do you determine the amount of money you should stake on a trade if the extent of risk is not Clearly defined or known even before the trade position is opened? Failure to apply proper risk management is recipe for disaster which can render the smooth application of the above mentioned analysis useless. How then do you work your risk management plan out considering capital size and trading style vary from one trader to another?

Talking about EMOTIONS MANAGEMENT, the second by second fluctuations of the price against or for our trades will affect our minds positively or negatively. How do you deal with consecutive losses? How do you feel after consecutive profits? How do you react after realizing your trade methodologies are no longer giving the desired result? Do you start to create another methodology all over again or try to modify?

CALL TO ACTION (MERGING ALL TOGETHER)
We all trade the PRICE which is the exchange rate and apply different system to DETERMINE what to do with the PRICE...
PRICES are so inconsistent and erratic hence we consult some or all of the above analysis to help us out and yet the failure rate is still very high (75-85% losses). This failure rate despite different approach means there is more to trading than most of us understand and we need to think outside of the box to succeed.

Below I will show 2011 to 2020 prices and ranges of GBPUSD to Buttress the unpredictable nature of prices we all Trade. The highest price of year A can be the lowest Price of year C, how then do we decide whether the price is LOW to be bought or HIGH to be sold?

2011 = High 1.6744 - 1.5272 Low (1472 pips range)
2012. = High 1.6308 - 1.5235 Low (1073 pips range)
2013. = High 1.6577 - 1.4813 Low (1764 pips range)
2014. = High 1.7189 - 1.5485 Low (1704 pips range)
2015. = High 1.5928 - 1.4565 Low (1363 pips range)
2017. = High 1.3555 - 1.1986 Low (1670 pips range)
2018 = High 1.4375 - 1.2475 Low (1900 pips range)
2019 = High 1.3513 - 1.1957 Low (1556 pips range)
2020 = High 1.3229 - 1.1409 Low (1820 pips range) so far*

Key Observation:
* 2011 - 2020 so far has (1.7189 - 1.1409) 5780 pips range,
* 2011 - 2020 so far has (1900 - 1073) 827 range difference
* Maximum range (2018) is 1900 pips
* Average range (2019) is 1556 pips
* Minimum range (2012) is 1073 pips

2018 high (1.4375) is not up to 2013 Low(1.4813)
2017 high (1.3656) is not up to 2015 low (1.4565)
2020 high so far (1.3229)is not to 2012 low (1.5235)
^ Range difference from 2011 to 2020 is 827
^ Pips difference from 2011 to 2020 is 5780

Prices are inconsistent while Ranges are consistent.
There is a need to find what prices respond to which will make the synchronization of these various analysis easier.
In my humble view from research, prices are very inconsistent and erratic, and we are provided with tools and analysis models which respond to PRICES which in itself is difficult to Guage.

Until we find what PRICES RESPOND TO, it is then we can get that advantage of consistency and reduce loss percentage to the minimum level.

I hope this is useful.

Cheers.
Georginson.