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Cable Update (GBPUSD)

  • #545,181
  • Aug 28, 2020 12:25pm Aug 28, 2020 12:25pm
It's been a great week for me.. Did more stacking even tho some may think it's stupid .. Who cares? long as bills are paid right? Anyway, the last trade is just for scalp but will leave the lower ones for bigger targets I have in mind.

I will be getting wasted this weekend for sure..
Let;s see what Next week will offer..

StaySafe everyone and enjoy your weekend.
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  • #545,182
  • Aug 28, 2020 12:27pm Aug 28, 2020 12:27pm
Quoting knkie
{quote} if ice-cream sales stay strong id say the sky is the limit
Let's aim for the moon
Hope you had a great one

SS
  • #545,183
  • Edited 12:58pm Aug 28, 2020 12:29pm | Edited 12:58pm
Quoting Lazar1
{quote} What was your risk to ratio with a 50 pip stop loss?
Hi Lazar,
Right now my risk is zero with my trade locked in. When I open a trade it is a high probability trade with lots and lots of patience. However, to answer your question. My idea is to have at least a retrace to my future weekly pivot at 1.32469 ish (highlighted in green). So you are looking at a potential loss of 50 pips with a possible reward of 90 pips in a countertrend situation.
In fact, I would love price to go up to the moon which will help my overall situation.
Hope it helps
Cheers.
Edit: A weekly close above 1.3300 could be good for the Bull cause....
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Trade to trade another day
  • #545,184
  • Aug 28, 2020 12:37pm Aug 28, 2020 12:37pm
Quoting JayBag
{quote} Let's aim for the moon Hope you had a great one SS
lol
yeah i did
i trade better when im not on the thread.
Still long.
in wondering about yourself, you forgot what you came here to be part of
  • #545,185
  • Aug 28, 2020 12:42pm Aug 28, 2020 12:42pm
Quoting Wavegarrick
{quote} Hi Lazar, Right now my risk is zero with my trade locked in. When I open a trade it is a high probability trade with lots and lots of patience. However, to answer your question. My idea is to have at least a retrace to my future weekly pivot at 1.32469 ish (highlighted in green). So you are looking at a potential loss of 50 pips with a possible reward of 90 pips in a countertrend situation. In fact, I would love price to go up to the moon which will help my overall situation. Hope it helps Cheers. {image}
Nice trade by the way, thanks for the input. Much appreciated!
  • #545,186
  • Aug 28, 2020 12:43pm Aug 28, 2020 12:43pm
Quoting knkie
{quote} lol yeah i did i trade better when im not on the thread. Still long.
Awesome.. Long is the way I think..
Oh, I have mastered the art of filtering so I can trade even when I live inside the thread lol

Enjoy your weekend K
  • #545,187
  • Aug 28, 2020 2:00pm Aug 28, 2020 2:00pm
Quoting JayBag
{quote} Awesome.. Long is the way I think.. Oh, I have mastered the art of filtering so I can trade even when I live inside the thread lol Enjoy your weekend K
thats a good quality
you too good weekend
in wondering about yourself, you forgot what you came here to be part of
  • #545,188
  • Aug 28, 2020 2:02pm Aug 28, 2020 2:02pm
W/e analysis

Just a couple of hours till market close so will do this analysis as if it has for Mthly, Wkly, and Dly and add 4hr and 1hr and my conclusion when market closed. I will edit the analysis for the first mentioned t/f's if I have to - ie in the event of something affecting it in the next 2 hours.

Mthly range was 375pips which is only 63% of the 4 month amr. Weekly range was 302 - 113% of the 13week awr. Friday's daily range was 170 which is 151% of the 30 day adr and another 'large' pip range for this pairing relative to the average.

20/50/100 ema's are all crossed up from 5min to dly t/f's...and the wkly now goes neutral whilst mthly remain crossed down.

Mthly
The mthly candle closes very bullishly on this t/f which was always the technical higher probability after July's mthly close. No fractal print created by the close of this month's candle on the t/f - the last few being LL, H, LL, LH, H, LL and a HL in it's general pa downtrend. Last 3 candles have been bullish on this t/f.

Wkly
The wkly candle closes very bullishly and has breeched the asc channel top on that t/f to the upside. No fractal print is created by this wkly candle close on the t/f - the last few being HL, LH, H, and what will be a HH when it forms in it's general pa uptrend. The last 3 candles on this t/f have also been bullish.

Dly
The dly candle closes very bullishly and has breeched the asc channel top (s) on this t/f to the upside. No fractal print is created by this wkly candle close on the t/f - the last few being H, HL, H, L and what will be a H when it forms in it's general pa uptrend.

4hr

tbc

1hr

tbc

Conclusion

tbc
Trader with an Edge.
  • #545,189
  • Aug 28, 2020 2:29pm Aug 28, 2020 2:29pm
The way i see it, cable won't stop buying until 1.35
  • #545,190
  • Aug 28, 2020 2:37pm Aug 28, 2020 2:37pm
we have just one trading day before the month ends so i'm guessing that's why cable wants to buy all it can today because Monday will be for a sell off
  • #545,191
  • Aug 28, 2020 2:48pm Aug 28, 2020 2:48pm
Quoting trumps
{quote} I know there's no wedge, that's what I was saying. There's no buyers above that location because that was 5 to 8 months ago. The market has since found a cheaper price, and we are now trading now. Here's a wedge though, 2 actually. A lot of pressure mounting on the upper boundary {image} {image}
Perhaps a retest of broken main trendline next week, or go to 35 before any retrace.
Compulsions can be hard to resist
  • #545,192
  • Aug 28, 2020 3:06pm Aug 28, 2020 3:06pm
Quoting Neil0163
GU 1.35 ish long term of course not anytime over next few days....
Watch 1.3428-1.3452
if this breaks its onto 1.35
  • #545,193
  • Edited 3:32pm Aug 28, 2020 3:16pm | Edited 3:32pm
Quoting Neil0163
{quote} Watch 1.3428-1.3452 if this breaks its onto 1.35
why are people scared of 1.35 ? it's 200pips max from current market price. Maybe crazy bull Monday will take it there and then we can either see a fall or a new trading level
  • #545,194
  • Aug 28, 2020 3:25pm Aug 28, 2020 3:25pm
Quoting epzero
{quote} why are people scared of 1.35 ? it's 200pips max from current market price. Maybe crazy bulls will take it there and then we can either see a fall or a new trading level
There's a bet on it!!!!
Don't trade what you think. Just what you see!!!
  • #545,195
  • Aug 28, 2020 3:36pm Aug 28, 2020 3:36pm
Quoting Theoak
{quote} There's a bet on it!!!!
we have only Monday before a new month so i bet it will sell first before the buy rally starts again, but 1.29, 1.28 is out of question unless it first gets to 1.35
  • #545,196
  • Aug 28, 2020 6:08pm Aug 28, 2020 6:08pm
Quoting epzero
{quote} we have only Monday before a new month so i bet it will sell first before the buy rally starts again, but 1.29, 1.28 is out of question unless it first gets to 1.35
1.3410 then retrace.
Don't trade what you think. Just what you see!!!
  • #545,197
  • Aug 28, 2020 6:13pm Aug 28, 2020 6:13pm
Quoting Theoak
{quote} 1.3410 then retrace.
1.3410 isn’t strong enough to bounce market 1.35 is the best price
  • #545,198
  • Aug 28, 2020 6:15pm Aug 28, 2020 6:15pm
Quoting epzero
{quote} 1.3410 isn’t strong enough to bounce market 1.35 is the best price
Lets wait and see kidda!!!
Don't trade what you think. Just what you see!!!
  • #545,199
  • Aug 28, 2020 6:18pm Aug 28, 2020 6:18pm
Quoting Theoak
{quote} There's a bet on it!!!!
Here is the current picture. I think the 1.35 people may win this, LOL.

Attached Image

Here is the poll link once again: https://www.easypolls.net/poll.html?...b048bb32746ba0
  • #545,200
  • Aug 28, 2020 11:05pm Aug 28, 2020 11:05pm
have a good weekend all,
holding well all of you in short ( it will coming back to you so nothing to worry )

i miss a lot of good point, next week or next month

gpu all most done or crash by some point ( my guess )
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