Cable Update (GBPUSD)

Friday and Mondays are easy days.

I find Saturdays and Sundays the easiest

I love round numbers

Ha! True. The safest way to trade is not to trade at all..

i prefer 1.2745 (image no 2)

W/e Analysis cont...

Re next week and continuing with point b., above, using the same quartile analysis but this time of the open to hi and open to lo metrics of i. bullish and ii. bearish candles respectively in the last 5 week 'typical summer range weekly candles' we get a most likely hi of 1,2925 -vs- the most likely max hi of 1.3054, -and- the most likely lo of 1.2658 -vs- the most likely max lo of 1.2536. These in in the context of the most likely pip range size of 259 pips for next week's weekly candle..

Obviously these figures will need to be adjusted if price gaps from the closing price of 1.2794 at the open.

On a broader point I do not know whether such quartile analysis of ranges may result in an edge on these weekly candles (or indeed daily or monthly) but as an academic exercise it will be interesting to see and I might backtest it one week at a time as I forward test it one week at a time . The logic I have applied to this based around a quartile analysis is for the moment proprietary. One thing I do know is that at the fund I worked at for 3yrs when I left the bank, and prior to becoming a self employed own a/c trader, they modelled such stuff with sophisticated programming and Phd quants etc and they still got it hopelessly wrong - that may have changed since I left - I don't know, and doubtless there are/have been a myriad of other investigations into a possible edge re range analysis by many different concerns, and who knows - some may have found an edge - but to date I don't know of one. Moreover I think gaining the probable max hi and max lo of a probable range is the relatively easy bit - it's where that range may occur - ie the most probable hi and lo that is the harder bit.

Recap of last.
The market move just expected. The resistance of 2800 has been touch twice in two months. What does this mean? Think about it,,
BF

AF.
Market not always work for me so make sure i calculate my R: R in order to protect my account from any unseen sh**t. Hope you get the point.

For the rest of the Month of July, I am expecting the price to retest last month (June) high - 28124. We should also expect a break of the high before selling can actually happen. July pip range is 400 pips which are average monthly pip movement of GBPUSD which is convincing enough for a sell since it is at the confluence with a recent resistance.

COT report also helping the scenario that depicts how the sellers are building up momentum.

As you now I can be wrong and anything can happen so be mindful of R: R.
Please always wait for PA before taking any position.

Peace

W/E analysis cont...

Could be a good week ahead re volatility with U.s Fed's FOMC, and the U.s Q2 GDP no....Add to that the Ger and Fr GDP no's and Eu Q2 Gdp no and these are probably the main things to look for. Other stuff too like U.s Chicago PMI, UOM , and German Retails sales. Could be a bumpy ride !

Just my view, anything can happen in the market.

Hello all.
Hope everybody having a good day
Whana share 4H and 1H (M&W charts near resistence)
Spoted 2 Triangles , since above 1.28163 is major resistence will be carefull...i think usdidex can go lower at least till wednesday..
Lets see how it plays out, either way will ride the wave
Rest of good day

If you are tracking the GBPUSD this week, consider this technical perspective from a swing trader. Price action on the daily time frame is disposed northward. Presently it has broken below an inner rising trendline (purple) traceable to March 23, 2020 and respecting an outer rising trendline (red) from the same base. However, since last week Monday, the bullish prints have diminished, with the Wednesday and Thursday prints resulting doji-like. Price action is located around the 1.28170 significant horizontal resistance and we should await what happens in the area in the early part of this week. Looking left, the major technical pattern since March 10, 2020 appears to be ‘W’ shaped, with the outer arm in a consolidation. If that is the case, we may see an imminent southward turnaround. Alternatively, should buyers breach the 1.28170 horizontal resistance, we may see them effect a bullish follow-through towards the next technical reaction area of 1.29550.


I may be wrong. Trade safe and prosper.

KP

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stand off look ?!!

With all these predictions flying around I would like to throw my opinion into the hat. This week. Price will either go UP.. Or go DOWN. Of this I am sure, and yes.. you CAN bet on it.

lot of buyer around..
thinking to change be a seller for couple day
..
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