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Cable Update (GBPUSD)

  • #542,761
  • Edited 8:36am Aug 15, 2020 8:10am | Edited 8:36am
I'm going into the week bearish for further retrace ,without seeing open.
You might say thats a small doji after a huge move ,but small range can be remarkably powerful
2 week tf outlook without higher,Q is how does it get to line small range holds its continuation
Attached Image (click to enlarge)
Click to Enlarge Name: 002 GBPUSD-2-weeks.png Size: 34 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #542,762
  • Aug 15, 2020 8:14am Aug 15, 2020 8:14am
Quoting JayBag
Fresh Week upon us.. Took the time to draw some charts .. Is it just me or may have a W in the making on the monthly side of things? Maybe .. to add on, we have a bull doji that has been vetted from top to bottom. Have a look at make what you wish out of it. We sticking with the bull side of things.. Can't afford to miss this.. If this bull idea must stick, weekly open should only be retested and must not go below it. monthly candle also need to close above 20MA Let's see how fast things goes. StaySafe {image}
This idea is for keeps. 1.50 is a target for me. Jay is not scalping, I am POSITIONING so not expecting it to happen in a day lol.. I will never try to influence anyone but I will always advice we be careful when going against trend for keeps.

Looking at the weekly close, next week is super easy plan for me and my neighborhood . If we are done with the monthly retrace, 1.30773 MUST keep bouncing price since we have a daily,weekly close above it. But if daily close below this 1.30773, then we are probably not done with retrace.

I think we have not done any moves on the MONTHLY yet. We just retested the top of the MONTHLY Bull-Doji and you can take a guess what happens when this happens.

I will take the bounce at 1.30773 serious during LONDON time.

Enjoy your weekend everyone..
StaySafe
  • #542,763
  • Aug 15, 2020 8:19am Aug 15, 2020 8:19am
Quoting Bones
I'm going into the week bearish for further retrace ,without seeing open. You might say thats a small doji after a huge move ,but small range can be remarkably powerful {image}
for such DOJI daily candles, theoretically, the price can move up or down.

Assuming that the price wants to move down.. the price retraces atleast 50 % of the wick before drop.

This is my view
Intraday only.
  • #542,764
  • Aug 15, 2020 8:20am Aug 15, 2020 8:20am
Quoting Georginson
SLOW MOTION AUGUST this just concluded week recorded the lowest weekly range in 2020 (1.3142 - 1.3004) being 138 pips. In fact August so far has done only 205 pips range (1.3185 - 1.2989). WHY THIS SLOW MOTION? Looking into previous Months that have range of over 580 pips and the months that followed such months ... May 2019 (1.3176 - 1.2558) 618 pips. June 2019 (1.2783 - 1.2505) 278 pips July 2019 (1.2705 - 1.2119) 586 pips. August 2019 (1.2309 - 1.2014) 295 pips October 2019 (1.3012 - 1.2195) 817 pips November 2019 (1.2985 - 1.2768) 217 pips December...
wow, this is quite interesting. Makes intra day trading the more viable option this months. Thanks heaps
  • #542,765
  • Aug 15, 2020 8:20am Aug 15, 2020 8:20am
Quoting JayBag
{quote} This idea is for keeps. 1.50 is a target for me. Jay is not scalping, I am POSITIONING so not expecting it to happen in a day lol.. I will never try to influence anyone but I will always advice we be careful when going against trend for keeps. Looking at the weekly close, next week is super easy plan for me and my neighborhood . If we are done with the monthly retrace, 1.30773 MUST keep bouncing price since we have a daily,weekly close above it. But if daily close below this 1.30773, then we are probably not done with retrace. I think...
if you remember, when I said, the price will not / should not break 3050 and move up on friday, I was not liked by some.

lol
Intraday only.
  • #542,766
  • Aug 15, 2020 8:21am Aug 15, 2020 8:21am
Quoting Bones
I'm going into the week bearish for further retrace ,without seeing open. You might say thats a small doji after a huge move ,but small range can be remarkably powerful {image}
Thanks Bones for your analysis, lays it out nicely and a wealth of info there
Sometimes say during a trading session you'll see price not really moving much but you know behind the scenes there's this massive Bull/Bear fight going on with millions or hundreds of millions at stake....
Don't Leave Money on the Table
  • #542,767
  • Aug 15, 2020 8:25am Aug 15, 2020 8:25am
Quoting navk
{quote} for such DOJI daily candles, theoretically, the price can move up or down. Assuming that the price wants to move down.. the price retraces atleast 50 % of the wick before drop. This is my view
Or even forms another Full body Candle similar to the one that formed before the DOJI.. If that's the case, the RED TL would be under attack. But let's see how things goes come this new week.

SS
  • #542,768
  • Aug 15, 2020 8:25am Aug 15, 2020 8:25am
Quoting navk
{quote} if you remember, when I said, the price will not / should not break 3050 and move up on friday, I was not liked by some. lol
That was awesome, I should have listened but already made money on the move up to 3082 then watched it pullback to 3060 area and did nothing with the Stealth move(as I call it lol) up to 3100. But grabbed a scalp after US data when price continued to 3143
Don't Leave Money on the Table
  • #542,769
  • Aug 15, 2020 8:29am Aug 15, 2020 8:29am
Quoting navk
{quote} if you remember, when I said, the price will not / should not break 3050 and move up on friday, I was not liked by some. lol
Don't mind kids who can't read properly.

The truth is, He has been picking on you since he started asking 'how you come up with those numbers' it was even clearer when he said you sound like a prophet. I knew exactly where that was coming from ...

I've been around for a while and I can tell who a person is from how they talk to me.. (Jokingly or Seriously) and once I figure a person out, they loss my regard imminently..

SS
  • #542,770
  • Edited 11:40am Aug 15, 2020 8:52am | Edited 11:40am
It failed to confirm the inverted by the close ,but it worked out good, wick cover and more.Location of the inverted is debatable.
I'm wondering where my focus should be and thinking maybe its the only solid candle in the group and a lot of upper wicks on up attach, when price is high.
If it opens shaven again I may reconsider

Quoting TerpFan2
Next, We have seen Wave-3 of Wave-3 "Retraced" around a 23.6% Retracement Area... Again, -You can correct me if i'm wrong, and it makes for good conversation. I See IN Wave-3's, (2nd Picture), we have ALSO Retraced, at 23.6% Retracement or 'tad better. (Maybe i was lucky earlier "Shorting" the Top, of that Wave-Set!) -It looks as if we are in an Expansion Wave, here, where i expect one last Wave-5 to Go higher, of that Even Larger Wave-3. -Check your charts, -you tell me. Here's what i see Fib-Wise you all check it: {image} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: d1 GBPUSD-Daily.png Size: 64 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #542,771
  • Edited 10:38am Aug 15, 2020 9:54am | Edited 10:38am
If it closed 50-60 pips higher id remain very bullish ,but it closed on the monthly open.That really made me doubt straight up next week, that this week is straight up continuation.
The daily is difficult because its tight side ,candle pattern don't go far.Push to downside is bullish imo and maybe we can read it can't go up without more down .
Wicks to top side ,only solid candle is bear ,wicks to downside when price is high.

If the shaven pattern continues I'd change my mind straight away.It's working through bear orders.
in the next 4 weeks it can go 13350 looking at the 4 week chart.I doubt higher than that, in that time.


Quoting BWilliam
{quote} Meaning ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #542,772
  • Aug 15, 2020 10:04am Aug 15, 2020 10:04am
Quoting JayBag
{quote} This idea is for keeps. 1.50 is a target for me. Jay is not scalping, I am POSITIONING so not expecting it to happen in a day lol.. I will never try to influence anyone but I will always advice we be careful when going against trend for keeps. Looking at the weekly close, next week is super easy plan for me and my neighborhood . If we are done with the monthly retrace, 1.30773 MUST keep bouncing price since we have a daily,weekly close above it. But if daily close below this 1.30773, then we are probably not done with retrace. I think...
1.50?
  • #542,773
  • Aug 15, 2020 10:13am Aug 15, 2020 10:13am
Attached Image
COT: The precious data ignored
  • #542,774
  • Aug 15, 2020 10:14am Aug 15, 2020 10:14am
Quoting godlike
{quote} 1.50?
Yeah, that’s just my idea.. And if this is the case, we should experience it within the next remaining 4 months..

SS
  • #542,775
  • Aug 15, 2020 11:53am Aug 15, 2020 11:53am
Quoting navk
monday pivot point is 1.3089. Can move up a little bit or 1.3100 maximum.. to drop... This will be healthier drop. If it drops from open..then the price must get supported at S1. 1.3037 around. I would prefer 1.3100 to 1.3000 for Monday
Let us see how it works.

My chart.
Attached Image (click to enlarge)
Click to Enlarge Name: OctaFX.png Size: 72 KB
Intraday only.
  • #542,776
  • Aug 15, 2020 1:01pm Aug 15, 2020 1:01pm
How large is Cable's spread at market open?.
How many pips wide?
Patience.....
  • #542,777
  • Aug 15, 2020 1:35pm Aug 15, 2020 1:35pm
Quoting navk
{quote} Let us see how it works. My chart. {image}
could open 20 pips higher, and have bearish engulfing, coincidence, resistant in my chart is 1.3106, so 20 pips from this price,just idea, but those bearish engulfing happens once in a month.also pound doesnt look healthy for me,specially against eurgbp.
  • #542,778
  • Aug 15, 2020 1:39pm Aug 15, 2020 1:39pm
Quoting Fredo219
How large is Cable's spread at market open?. How many pips wide?
Please, i need an answer to this .
My stop loss is 70 pips far from the current market price.
Am i safe?
Patience.....
  • #542,779
  • Aug 15, 2020 1:49pm Aug 15, 2020 1:49pm
The chart said it all
4HRS GBP/USD
Attached Image (click to enlarge)
Click to Enlarge Name: GPD 4HRS AUGUST 2020.jpg Size: 149 KB
  • #542,780
  • Aug 15, 2020 1:59pm Aug 15, 2020 1:59pm
Quoting Fredo219
{quote} Please, i need an answer to this . My stop loss is 70 pips far from the current market price. Am i safe?
if the world ”dont go under until market open” and you have one of the normal good broakers, the chances are slim you get stopped out, if not zero...
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