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Cable Update (GBPUSD)

  • #541,281
  • Aug 6, 2020 7:27am Aug 6, 2020 7:27am
Quoting Black-Star
These are the price points I am looking at and the likely path that price may take. Please don't follow blindly, use your own system to confirm entries. I may be wrong. Green pips to everyone!!! {image} {image} {image}
Update on likely path of price.
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  • #541,282
  • Aug 6, 2020 7:28am Aug 6, 2020 7:28am
Quoting Georginson
Max high: 1.3184/1.3208 (15% chance) expire 07/08/2020 Exp Low : 1.2750/1.2680 (85% chance) expire 14/08/2020. Please no attacks. For me only.
Man, i am with you for the short! Really curious roller-coaster Would be crazy balls if we get it : D Not trading advice, please enjoy the volatility.
A trader is as good as his stop loss. Understand your mistakes.
  • #541,283
  • Aug 6, 2020 7:34am Aug 6, 2020 7:34am
Quoting emannnn
{quote} why w3 is shorter than w1?
As Coreg said... Usually wave 3 is the longest, but for every rule there is an exception. If not, my wave 5 should be reconsidered to become wave 3. Thanks for your question, it has open my eye.
  • #541,284
  • Aug 6, 2020 7:38am Aug 6, 2020 7:38am
... asc 1hr t/line downside breech in the sell-off from that prev dly/wkly sw hi now a 1hr sw hi too there = pot res zone up to 3200-3209 as the dly asc channel top and mthly desc t/line in that zone prove to harbour sellers once again. 1hr is below. Pot rbs on the dly down to 3095. Proving a 'tough nut to crack' for the £ bulls.
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Trader with an Edge.
  • #541,285
  • Aug 6, 2020 7:45am Aug 6, 2020 7:45am
I already reached my goal today ... I will wait more.
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  • #541,286
  • Aug 6, 2020 7:47am Aug 6, 2020 7:47am
Quoting Georginson
Max high: 1.3184/1.3208 (15% chance) expire 07/08/2020 Exp Low : 1.2750/1.2680 (85% chance) expire 14/08/2020. Please no attacks. For me only.
I have the retracement low at 1.2835.
Observation is the path to discovery.
  • #541,287
  • Aug 6, 2020 7:48am Aug 6, 2020 7:48am
Quoting Headland
... asc 1hr t/line downside breech in the sell-off from that prev dly/wkly sw hi now a 1hr sw hi too there = pot res zone up to 3200-3209 as the dly asc channel top and mthly desc t/line in that zone prove to harbour sellers once again. 1hr is below. Pot rbs on the dly down to 3095. Proving a 'tough nut to crack' for the £ bulls. {image}
which indicator you are using for auto finonacchi ? and these support and resistance . thanks
  • #541,288
  • Aug 6, 2020 7:51am Aug 6, 2020 7:51am
Quoting Hard.target
{quote} which indicator you are using for auto finonacchi ? and these support and resistance . thanks
I do fibs manually, and I do supp/res manually - on t/f's 1hr, 4hr, dly, wkly, mthly - but have this indicator attached blacked out so just leaves the text.

Most of the time during my trading sessions is spent updating (as price discovery takes place) / working out the highest probability confluences of potential supp/res factors so I know where to trade at for an intraday swing should one of my set-up (s) develop at them across 1 or more t/f's.
Attached File(s)
File Type: ex4 SS_SupportResistance_v06.ex4   76 KB | 473 downloads
Trader with an Edge.
  • #541,289
  • Aug 6, 2020 7:59am Aug 6, 2020 7:59am
there are signs of sellers in hourly.

It needs to be confirmed on daily close.

For me fantabuouls money.

If the price tests lower, I shall buy
Intraday only.
  • #541,290
  • Aug 6, 2020 8:00am Aug 6, 2020 8:00am
Quoting Marcieny
I already reached my goal today ... I will wait more. {image}
2021 goal ?

Intraday only.
  • #541,291
  • Aug 6, 2020 8:01am Aug 6, 2020 8:01am
Quoting Stev1929
{quote} Well caught Leon
Thanks, Steve, well actually my stop was taken out with this one. No sweat, I await new opportunities.
Cheers
Leon
Trade to trade another day
  • #541,292
  • Aug 6, 2020 8:02am Aug 6, 2020 8:02am
Quoting Alorente
{quote} I have the retracement low at 1.2835.
Yeah retracement contains minimum of 330 pips, wave contains minimum of 530 pips (1.3184 - 530 = 1.2654).

If usage of average August Range being 450 pips...
Tentative High 1.3200 - 450 pips = 1.2750.

Current wave started from 1.2250 - 1.3184 = 934 pips.

Previous wave highs 1.2646, 1.2812, 1.3184/1.3200. THIS current wave should have terminated at 1.3012 level but insisted added double 200 pips (400 pips to previous high 1.2812) very strong credence this wave should terminate here at 1.3184/1.3210 level for mininum recovery wave of 530 pips which exposes 1.2650 area in weeks ahead
Data + Stat + Risk/Emotions Management
  • #541,293
  • Aug 6, 2020 8:07am Aug 6, 2020 8:07am
Quoting Wavegarrick
{quote} Thanks, Steve, well actually my stop was taken out with this one. No sweat, I await new opportunities. Cheers Leon
That's what I meant, by well caught
  • #541,294
  • Edited 8:26am Aug 6, 2020 8:10am | Edited 8:26am
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yes yes yes
  • #541,295
  • Aug 6, 2020 8:14am Aug 6, 2020 8:14am
the price needs to close clearly below 3100 for the bearish candle tomorrow.
Intraday only.
  • #541,296
  • Edited 9:53pm Aug 6, 2020 8:33am | Edited 9:53pm
set buy limit order @1.3105
  • #541,297
  • Aug 6, 2020 8:47am Aug 6, 2020 8:47am
Quoting navk
the price needs to close clearly below 3100 for the bearish candle tomorrow.
very good , i will buy again on the dip for another crop of pips and cash
Follow The Markets Structure - Patience and Discipline
  • #541,298
  • Aug 6, 2020 9:00am Aug 6, 2020 9:00am
next round of buying is about to start again

H4 & H1 demand zones hit
M15 in and out
in wondering about yourself, you forgot what you came here to be part of
  • #541,299
  • Aug 6, 2020 9:05am Aug 6, 2020 9:05am
Quoting Black-Star
Patiently waiting for price to retrace to 1.3130. As for now I am on the sideline. Looking only to buy.
  • #541,300
  • Aug 6, 2020 9:08am Aug 6, 2020 9:08am
Funny day lol
currently in the only good profit of the day..cmona little more
(usdix started finnaly or more chop?)
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