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Cable Update (GBPUSD)

  • #541,581
  • Aug 7, 2020 2:27pm Aug 7, 2020 2:27pm
Quoting mkvy
Because i am a very high impact member, and i trade very well, quite a rare thing. Very soon i will be a red diamond. CLEAR evidence that i know what i am doing
No Sir, The red diamond will only come if you get consistent followers. By being an arse you will not get followers. By being a good trader with a TE you will get followers if you keep it up over a period of time.
Cheers.
Trade to trade another day
  • #541,582
  • Aug 7, 2020 2:28pm Aug 7, 2020 2:28pm
Quoting Wavegarrick
{quote} No Sir, The red diamond will only come if you get consistent followers. By being an arse you will not get followers. By being a good trader with a TE you will get followers if you keep it up over a period of time. Cheers.
So where have all the red diamond TE's gone?
  • #541,583
  • Aug 7, 2020 2:32pm Aug 7, 2020 2:32pm
Quoting shahab8b
{quote} Hi Vincent, I'd take one step at a time. The double top is not confirmed yet. Moreover, I'm looking at other pairs, and I'm thinking they may actually be forming a continuation pattern as a triangle. The pattern on EU looks more like a triangle formation in process. So I won't be surprised if that is the case with GU as well. You know sometimes the chart is very clear and you can just trade what you see, other times it is better to wait for more clarity. Being on the sidelines when you are not certain is always the smart move imo. {image}...
Nice point of view about the Triangle, I've just noted it as possible scenario. Thanks a lot

For what I studied "by the book", a continuation pattern is formed with low volume. In these cases we had some big volume. But it is not a mandatory requirement, everything is possible.

So, let's see where we go step by step as you suggest
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  • #541,584
  • Aug 7, 2020 2:50pm Aug 7, 2020 2:50pm
Hope you all get a good weekend
I let 4H view
Price between 1.31 and 1.30 can go either side, i expect to respect the red trend line and still go up, if not down movemt should de the option
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  • #541,585
  • Aug 7, 2020 3:33pm Aug 7, 2020 3:33pm
Quoting Moty
there was bearish bias for the all day , i don't understand why i took that trade and worse then that , why i put my tp at yesterday low ( 1.31281 ) moves it lower to daily s1 after it dropped {image}

Dear friend
Do not call your trade stupid
You not wrong
This is the nature of the market

thats bull trap !

anyway
i think you can close your long @be or near that after market open on monday
good luck
  • #541,586
  • Aug 7, 2020 3:36pm Aug 7, 2020 3:36pm
Quoting mkvy
Because i am a very high impact member, and i trade very well, quite a rare thing. Very soon i will be a red diamond. CLEAR evidence that i know what i am doing I am selling GBPUSD.. See you next week, have a lovely weekend Drop like a stone.ex4
Yes, that's what trading is about. Having a tiny red image next to your user name.
Moty is a red diamond, high impact, super dupa, too sexy for his shirt, trade with sword in hand, VIP forexfactory member. Does that mean he is twice the trader you are?
  • #541,587
  • Aug 7, 2020 3:48pm Aug 7, 2020 3:48pm
Ask yourself a dumb question. Will a red diamond make you a better trader?

if you can't answer it, just log off from FF
COT: The precious data ignored
  • #541,588
  • Aug 7, 2020 3:56pm Aug 7, 2020 3:56pm
The forum gone wild, 2015 i saw this forum was full of information.
Not a good english but hope you guys understand
  • #541,589
  • Edited Aug 8, 2020 3:18pm Aug 7, 2020 3:58pm | Edited Aug 8, 2020 3:18pm
W/E Analysis

Friday was one of those ‘triple whammy’ days ie i. price exceeded 100% extension of the previous day’s pip range (actually > 123.6%,) ii. Price exceeded Daily S3 pivot, and iii. Price exceeded 100% of it’s 30 day adr….if these reasons alone are not a reason to find a hi-prob area to go long for some pips I don’t know what are.

This week just closing saw a pip range of 204 which is just over half of last week’s 401 and only 72% of the 13wk awr. Friday’s pip range was 140, almost double the pervious day’s 75, and 132% of the 30 day adr. So far in August price has travelled that 204 pips which is 34% of the 4mth amr.


Wkly No fractal swing is created by the close of this week's weekly candle with a 3185 hi just 15 pips above last week’s hi. It closed with a small bearish body and a longer upper wick than lower. The last few fractal swings since and including 1411 lo are L, LH,HL,H,LH, L, H, HL, LH and what will become a HH when it forms. So this t/f is still in a general fractal uptrend but like the monthly the 100/50/20 ema's all remain crossed down.
.

Dly The close of today's bearish daily candle will create a fractal swing hi @ 3185 on this t/f. The Daily remains in a general fractal uptrend - the fractal prints since 2252 sw lo and starting with that have been LL, LH, HL, H, HL, LH, HL, HH, and what is now a fractal 2nd HH @ that 3185 hi. The last fractal HL before the run up to this 3185 2nd HH is Tuesday’s lo of 2981 and price will likely close above that. Friday’s lo (@/around Wkly pivot) was around the 23.6% fib of the highest major upswing on this t/f being 2480-3185. The 100/50/20 ema's on this daily t/f remain crossed up.
--------------------------------------------------

4Hr The last 4hr candle closed bullishly making friday's 3008 lo a fractal swing L now in that t/f’s general fractal uptrend, this under the last HL @ 3107. So some damage to that said uptrend. As said last week...we have of course seen this many times in this and other 'general fractal uptrends' such is their nature (as opposed to a classic fractal uptrend which is a succession of HL's and HH's.) Like the daily the 100/50/20 ema's all remain crossed up on this t/f.

1Hr No fractal swing is created by the last 1hr close. This t/f is in a general fractal downtrend now with Friday’s lo @ 3008 being a LL followed by a LH, but then a HL and what will be a fractal H when it forms (so some damage to it.) The 100/50/20 ema's on this t/f are neutral now given the down move, -from- previously being all crossed up.

Conclusion:

Price remains some way above the Mthly pivot still but given the bounce down from the mthly desc t/line [ joining 5930 with 3515 ] and the daily asc channel top (Both in that prev dly/wkly swing hi to 3200 then 3209,) and the candles they have created…it seems more probable than not that more downside is likely next week at least for a time. This said it is unlikely that the bulls have completely ‘ thrown in the towel ‘ and in a battle of the ‘least worst’ it will all depend on the volatile fundamental environment as it unfolds on both sides of the Atlantic - particularly re covid effects on ability to recover economies, and re £ specifically – ongoing brexit stuff. Probably more accurately - traders perception of it. The weekly candle should really be viewed as an indecision candle not a reversal candle per-say, but if price does continue down that prev wkly/dly sw hi zone @ 2813-2746 (= prev res = pot rbs) seems as likely place as any for the bears to aim at ? – and I wouldn’t be surprised to find buyers waiting there should it be tested. Failing this it might be an idea to plot the fib extensions of the 2980-3180 move as potential downside targets as well.
Trader with an Edge.
  • #541,590
  • Aug 7, 2020 4:02pm Aug 7, 2020 4:02pm
Quoting Ultralinx
The forum gone wild, 2015 i saw this forum was full of information. Not a good english but hope you guys understand
Now it's just full of red badge envy.

No body asks for a red badge do they?
Or do they?

Do they message twee asking for a red badge?

I doubt it.

If Orange Badge members are so envious of red badge holders, go begging to Twee for a red badge ok.
Compulsions can be hard to resist
  • #541,591
  • Aug 7, 2020 4:21pm Aug 7, 2020 4:21pm
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.
Gradually...
Data + Stat + Risk/Emotions Management
  • #541,592
  • Aug 7, 2020 4:25pm Aug 7, 2020 4:25pm
Next to be attacked is the resistance of June 10 (1.2812) will now become the temporary support in days ahead.

Please no obligation to follow or intent to influence.
Data + Stat + Risk/Emotions Management
  • #541,593
  • Aug 7, 2020 4:43pm Aug 7, 2020 4:43pm
Quoting Georginson
Next to be attacked is the resistance of June 10 (1.2812) will now become the temporary support in days ahead. Please no obligation to follow or intent to influence.
I'm with you on this Georginson.

And now, time for a pretty chart
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Compulsions can be hard to resist
  • #541,594
  • Aug 7, 2020 6:12pm Aug 7, 2020 6:12pm
Quoting trumps
USD showing hints of a decent retrace off support {image} {image} {image}
USD Weekly now showing retracing hint
Attached Image
Compulsions can be hard to resist
  • #541,595
  • Aug 7, 2020 10:28pm Aug 7, 2020 10:28pm
Quoting mkvy
Because i am a very high impact member, and i trade very well, quite a rare thing. Very soon i will be a red diamond. CLEAR evidence that i know what i am doing I am selling GBPUSD.. See you next week, have a lovely weekend Drop like a stone.ex4
Worse thing you can do is lie to yourself, lie to anybody else but not to yourself!

In 55 days you have increased your account by 26.6% which is a good outcome
But it's not a 'Great' outcome, what stands out is your jaggered equity curve, going for a job at a Prop firm they'd probably knock you back as they like to see a nice smooth equity curve, speaks volumes about a traders ability not to blow the companies money. Work on smoothing out that equity curve then one day you'll be able to call yourself a great trader.
Thing is great traders don't go around saying they are great traders. That's up to other people to say!!
Don't Leave Money on the Table
  • #541,596
  • Edited 10:14pm Aug 8, 2020 1:13am | Edited 10:14pm
Quoting akim0895
{quote} want more..
you can not expect more..

I line with my system, daily and 4 hr changed to short side.

Longer term perspective may be buy.

But to look for more when daily and 4hr is red... baffling me.

I will not buy until and unless 4 hr and daily changes again.

currently 4hr and daily is red... and who knows... slowly weekly and monthly too can change red ?

So, in my perspective, until 4 hr to monthly is long... not to buy.

In smaller tf... 15 min chart.. 4 hr should agree with other smaller time frame. Until then no buy.

So, sorry for you to look more on friday.

I got influenced by your post too.

Sorry for me too.
Intraday only.
  • #541,597
  • Aug 8, 2020 2:39am Aug 8, 2020 2:39am
https://www.forexfactory.com/thread/...8#post13104218
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  • #541,598
  • Edited 4:13am Aug 8, 2020 3:59am | Edited 4:13am
Good luck trading next week fellow traders, make it the best week you've had

Found this gem on youtube, just amazing, David Burn who was in Talking Heads playing live in Austin, Texas
Bass players are much maligned but all great songs have a killer bass line

Can't remember a band having so much fun playing a song. Enjoy

Inserted Video
Don't Leave Money on the Table
  • #541,599
  • Aug 8, 2020 4:53am Aug 8, 2020 4:53am
Quoting shahab8b
{quote} Hi Vincent, I'd take one step at a time. The double top is not confirmed yet. Moreover, I'm looking at other pairs, and I'm thinking they may actually be forming a continuation pattern as a triangle. The pattern on EU looks more like a triangle formation in process. So I won't be surprised if that is the case with GU as well. You know sometimes the chart is very clear and you can just trade what you see, other times it is better to wait for more clarity. Being on the sidelines when you are not certain is always the smart move imo. {image}...

I see a potential Triangle also but it could be a Bear one ? I guess it just means we sit on the hands and wait more info
Attached Image
  • #541,600
  • Aug 8, 2020 5:00am Aug 8, 2020 5:00am
Quoting navk
{quote} i fail to understand why i got influenced by your post. May be popcorn attracted me ? Even in 15 min TF, with 4 hr trend short, signs to short from 3150. have a look. {image}
To understand what's Akim is saying you need to look at the first posts on his thread 'Daily Trading Ideas'
If understood it's a method of trading with a high probability of success, but with any system needs to be fully understood and practiced
Don't Leave Money on the Table
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