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Cable Update (GBPUSD)

  • #541,641
  • Aug 8, 2020 9:18am Aug 8, 2020 9:18am
Quoting Bones
this is what a double top looks like in real life there's time between {image}

Not a double top... however it does appear to be a top tweezer...

https://www.investopedia.com/article...nd-traders.asp

https://bpcdn.co/images/2016/05/grad...ps-bottoms.png
Don't compare your trades to others. Most often the masses are the asses
  • #541,642
  • Aug 8, 2020 9:36am Aug 8, 2020 9:36am
yea ,could be consolidation/continuation considering the move
not a top on its own, have to see the open.
Quoting OBsayMkMoney
{quote} Not a double top... however it does appear to be a top tweezer... https://www.investopedia.com/article...nd-traders.asp {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 00112GBPUSD-Weekly.png Size: 44 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #541,643
  • Aug 8, 2020 9:42am Aug 8, 2020 9:42am
Quoting OBsayMkMoney
{quote} I am curious why you were influenced though. He said he WANTED more. Not that it was happening. My son often WANTS more ice cream. But he doesn't get that either. I actually thought he wanted more bearishness.
you know what..

I am now totally confused.

People from different parts of world understand in different way. Up to their knowledge.

ha..ha...

Nothing more to add.

Keep enjoying in this forum. As Akim said, it is public forum. Let us enjoy.

But I am saddened, these days, the tech. outlook is much much less and even I doubt in this thread.
Intraday only.
  • #541,644
  • Aug 8, 2020 9:50am Aug 8, 2020 9:50am
Quoting navk
{quote} you know what.. I am now totally confused. People from different parts of world understand in different way. Up to their knowledge. ha..ha... Nothing more to add. Keep enjoying in this forum. As Akim said, it is public forum. Let us enjoy. But I am saddened, these days, the tech. outlook is much much less and even I doubt in this thread.
Navk, I followed all of your trades you posted in your trade explorer while you were competing in that 5k contest. what happened to the trade explorer. you took it down. why?

hahahahahahaha
  • #541,645
  • Aug 8, 2020 9:53am Aug 8, 2020 9:53am
Quoting taint
{quote} Navk, I followed all of your trades you posted in your trade explorer while you were competing in that 5k contest. what happened to the trade explorer. you took it down. why? hahahahahahaha
you should not follow me or anyone for trading perspective.

Let us enjoy in this public thread.

I am enjoying because of holidays and posting and replying.
Intraday only.
  • #541,646
  • Aug 8, 2020 9:58am Aug 8, 2020 9:58am
$ basket ,surely it must hit the line coming this far before break of red down line.
Quoting Bones
today we know for a fact this potential tl is broke {image} {image}
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 011 DX-Weekly.png Size: 40 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #541,647
  • Aug 8, 2020 10:00am Aug 8, 2020 10:00am
Dumb to be long on top unless you know something

Attached Image
COT: The precious data ignored
  • #541,648
  • Aug 8, 2020 10:21am Aug 8, 2020 10:21am
USD bears shall worry ?

They had to worry for the past 10 years

Attached Image
COT: The precious data ignored
  • #541,649
  • Aug 8, 2020 10:33am Aug 8, 2020 10:33am
Will drop my 2bit ideas for next week soon
Cheers
Le$$ I$ More
  • #541,650
  • Aug 8, 2020 10:45am Aug 8, 2020 10:45am
Easy Money......

Look for websites that have outlook profiles for your pair. Wait until the consensus is above 93 percent. Look at your chart and look for areas of support or resistance near where price currently is. Place a trade in the direction of the 93% consensus. Cash and collect. There is a site out there that even has an app for your phone. Within said app you can set alerts so that when the outcome reaches your threshold your phone will alert you. USD/NOK and CAD/CHF both had these thresholds this week, and gave up some nice pipage. It gapped down also, so high probability price will return to those lows.
Attached Image (click to enlarge)
Click to Enlarge Name: Outlook.PNG Size: 52 KB
Don't compare your trades to others. Most often the masses are the asses
  • #541,651
  • Aug 8, 2020 11:24am Aug 8, 2020 11:24am
Quoting BWilliam
{quote} I understand what you're saying and how you feel, that's why I lurk, don't post on here at all except enjoy reading the drama and banter.
we, retailers are used to counter trend trade.. as is the posts.

Enjoy replying.

That is all.

And take it easy.
Intraday only.
  • #541,652
  • Aug 8, 2020 3:06pm Aug 8, 2020 3:06pm
Quoting Bones
The weekly shows a bearish candle but it dose not have the power alone to take us far down ,I don't think it can go 12800 which is a clear buy In bears favour theres also the wick to the bullish candle. I don't think it can go below that this month ,theres a lot of upward momentum from one month ,like before, with over 800 in a month. Maybe further consolidation ,but also I wouldn't bet on break up during this week without good reason . Weekly can fail to upside like before in this move =consolidation.But probably not after a break to down side....


i am with you on this view...
MY OPINION NOT FINANCIAL ADVISE
  • #541,653
  • Edited 3:53pm Aug 8, 2020 3:16pm | Edited 3:53pm
W/e analysis cont...

Longer term fibs:

Upside

2.1160, 7188, 5930, 5016, 4376 and 3515 - all to 1411

Downside

1411, 20174, 2252, 2480, 2510 - all to 3185
-----------------------------------------------------------

I have plotted the fib extensions of the 2980-3185 move on 4hr chart below.

Re that prev dly/wkly sw hi zone 2813-2745 = prev res = pot rbs , confluential with that is 2766-47 which is a 4 fib cluster of the downside fibs mentioned above...
The 4hr part of this swing hi is 2813-2787.

Other clusters of the same above that are 2924-13 = 3 fib cluster, 2845-25 = 3 fib cluster.
Attached Image (click to enlarge)
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Trader with an Edge.
  • #541,654
  • Edited Aug 9, 2020 1:43am Aug 8, 2020 5:43pm | Edited Aug 9, 2020 1:43am
Quoting OBsayMkMoney
{quote} I am curious why you were influenced though. He said he WANTED more. Not that it was happening. My son often WANTS more ice cream. But he doesn't get that either. I actually thought he wanted more bearishness.
can't post 'i want more here'..
will influenced others retailer..
especially red tag member...
hahahahahahahhahaha...
just for a cup of coffee...
  • #541,655
  • Aug 8, 2020 5:53pm Aug 8, 2020 5:53pm
After a big run up, this consolidating weekly candle at TL/Resistance is what you would expect.

Daily and 4hr show strong bearish intent.
Attached Image(s) (click to enlarge)
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Compulsions can be hard to resist
  • #541,656
  • Aug 8, 2020 6:54pm Aug 8, 2020 6:54pm
He signs executive order deferring payroll taxes and extending unemployment benefits
not euphoria follower
  • #541,657
  • Aug 8, 2020 7:21pm Aug 8, 2020 7:21pm
Quoting iqyu5an
He signs executive order deferring payroll taxes and extending unemployment benefits
what is the implication for this action?
Le$$ I$ More
  • #541,658
  • Aug 8, 2020 8:12pm Aug 8, 2020 8:12pm
Ok you point to the Aug candle so I looked ,surely that candle went another 200 pips after a 684 candle
So direct retrace on that from open open is 293.The April candle is what you're after ,the month doesn't matter maybe oct 2011-but note these candles are directly against the bear apart from April.
You're better to look for similar sets ups regardless of months ,it's just an observation.Also check what kind of weekly you need as a signal rather than what we see today for straight reversal.


Quoting Georginson
{quote} July 2020 did a weird and overblown range of 811 pips (1.2358 - 1.3169) which did exceed the maximum July range of 2011 being 689 pips by significant 122 pips. Coincidentally July 2011 Low being 1.5780 - 1.6617 August high contained 837 pips range, now this July 2020 range alone contained 811 pips range. In August 2011 after price attained high of 1.6617 price did drop to 1.6110 low same August 2011 which means 507 pips retracement. Does this now mean a retracement of around 500 pips is also on the card from 1.3169 high which takes us to...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 0001 aug GBPUSD-Monthly.png Size: 20 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #541,659
  • Aug 8, 2020 8:26pm Aug 8, 2020 8:26pm
Going into the second week of August, prices are stuck up at the consolidating area between 3000 and 3150. Last week's market ended the week with just a 200pips range that suggests a slow pressure from buyers. Looking at last Friday's bearish move signaling the start of BEARS building up momentum it is still not clear until the 3000 is broken to confirm an end to the bull run.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot at Aug 08 19-59-16.png Size: 93 KB
Also, i spot a hidden SW zone just around the 3000 regions which can be strong support for more longs to continue.

Anyways this just my views and it is not fast and hard fact to follow

Trade safe.

R.
Le$$ I$ More
  • #541,660
  • Aug 8, 2020 9:09pm Aug 8, 2020 9:09pm
Attached Image (click to enlarge)
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