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Cable Update (GBPUSD)

  • #543,941
  • Aug 21, 2020 7:51am Aug 21, 2020 7:51am
Hello everyone,

Price is now at 1.3100 zone.

Please can anyone confirm the formation of a double top on the 4 hour chart of GBPUSD?

Is it a double top pattern or am I seeing the wrong thing?

Thanks in advance.
  • #543,942
  • Aug 21, 2020 7:51am Aug 21, 2020 7:51am
from lo , 4 successful trade by the strategy of taking a break of last hourly candle according to the trend .
128 pips in total .
entry is on the comeback from 61.8 , back across the 38.2 , tp is at 161.8 ext ,or break of last hourly high or low .
sl below or after 61.8 retracement .
let's see if it works on Monday
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: dx1.png Size: 41 KB
yes yes yes
  • #543,943
  • Aug 21, 2020 7:52am Aug 21, 2020 7:52am
Quoting trumps
{quote} Yes, the daily looks very unusual, that's why I'm not paying much attention to it
No it's the opposite ,it would be spectacular fail of that level
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #543,944
  • Aug 21, 2020 7:52am Aug 21, 2020 7:52am
test long from 1.31 sl 15 pips
Like your wife says, hold the fucking position until I tell you I'm done.
  • #543,945
  • Aug 21, 2020 7:53am Aug 21, 2020 7:53am
Quoting Yngwie
{quote} {quote} Both break now we going down with confident
Collecting pips
Attached Image (click to enlarge)
Click to Enlarge Name: WhatsApp Image 2020-08-21 at 20.48.44.jpeg Size: 42 KB
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #543,946
  • Aug 21, 2020 7:57am Aug 21, 2020 7:57am
Quoting Bones
{quote} I use IG ,never had any problems They have daily weekly monthly on the majors
Thanks Bones. I will open an account. I love options. I traded index options for 15 years before I got into forex. Trading is a lot less stressful using options.
Observation is the path to discovery.
  • #543,947
  • Aug 21, 2020 7:58am Aug 21, 2020 7:58am
1.30840 1st then
  • #543,948
  • Aug 21, 2020 7:58am Aug 21, 2020 7:58am
Quoting Alorente
{quote} Thanks Bones. I will open an account. I love options. I traded index options for 15 years before I got into forex. Trading is a lot less stressful using options.
SaxoBank has a broad range of options too
Very good broker, as its a bank as well
COT: The precious data ignored
  • #543,949
  • Aug 21, 2020 7:59am Aug 21, 2020 7:59am
Quoting Yngwie
{quote} Collecting pips {image}
Hello,

Please are you suggesting that it is a good time to sell?

Thanks in advance.
  • #543,950
  • Aug 21, 2020 7:59am Aug 21, 2020 7:59am
Quoting Bones
{quote} No it's the opposite ,it would be spectacular fail of that level
ok
Compulsions can be hard to resist
  • #543,951
  • Aug 21, 2020 8:02am Aug 21, 2020 8:02am
Quoting Olabanji-Tex
{quote} Hello, Please are you suggesting that it is a good time to sell? Thanks in advance.
For ? scalps ? intraday? swing? weekly ?

No one can answer, but if you look at your chart, you may find the answer
COT: The precious data ignored
  • #543,952
  • Aug 21, 2020 8:03am Aug 21, 2020 8:03am
Quoting Olabanji-Tex
Hello everyone, Price is now at 1.3100 zone. Please can anyone confirm the formation of a double top on the 4 hour chart of GBPUSD? Is it a double top pattern or am I seeing the wrong thing? Thanks in advance.
it's going down , that's what is coming .
double top , h&s , what ever
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 28 KB
yes yes yes
  • #543,953
  • Aug 21, 2020 8:07am Aug 21, 2020 8:07am
Quoting trumps
{quote} ok
I'm talking about if it breaks ,It's not consolidation ,you have a weekly to back it up ,
which is bearish even like that
If it breaks it gets better for bears on the w1 print ,this candle is high probability ,it has the wick you want ,where you want
Attached Image (click to enlarge)
Click to Enlarge Name: 10 GBPUSD-Weekly.png Size: 19 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #543,954
  • Aug 21, 2020 8:08am Aug 21, 2020 8:08am
Quoting Olabanji-Tex
{quote} Hello, Please are you suggesting that it is a good time to sell? Thanks in advance.
This is my last defense. might down to 3080 then to 3060 then 3040.
Attached Image
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #543,955
  • Aug 21, 2020 8:09am Aug 21, 2020 8:09am
Quoting Olabanji-Tex
{quote} Hello, Please are you suggesting that it is a good time to sell? Thanks in advance.
wait for retracement i suggest
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 43 KB
yes yes yes
  • #543,956
  • Aug 21, 2020 8:09am Aug 21, 2020 8:09am
Quoting vowan4ik
test long from 1.31 sl 15 pips
took sl - 20 pips
now sideway
Like your wife says, hold the fucking position until I tell you I'm done.
  • #543,957
  • Aug 21, 2020 8:10am Aug 21, 2020 8:10am
daily chart a bit over limited line down
  • #543,958
  • Aug 21, 2020 8:10am Aug 21, 2020 8:10am
Quoting Bones
{quote} I'm talking about if it breaks ,It's not consolidation ,you have a weekly to back it up , which is bearish even like that If it breaks it gets better for bears on the w1 print ,this candle is high probability ,it has the wick you want ,where you want {image}
I'm curious....ok weekly turning bearish

But you "only" look at a move to 2800? with weekly bearish (chart, COT) i'd rather see 2400 and below
COT: The precious data ignored
  • #543,959
  • Aug 21, 2020 8:11am Aug 21, 2020 8:11am
The move down is becoming stretched
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #543,960
  • Aug 21, 2020 8:11am Aug 21, 2020 8:11am
Quoting Bones
{quote} I'm talking about if it breaks ,It's not consolidation ,you have a weekly to back it up , which is bearish even like that If it breaks it gets better for bears on the w1 print ,this candle is high probability ,it has the wick you want ,where you want {image}
except we are sitting right above monthly support which was broken by a very bullish July.
It's why I trust my wedge and not the trend line
Compulsions can be hard to resist
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