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Cable Update (GBPUSD)

  • #545,641
  • Sep 1, 2020 9:38am Sep 1, 2020 9:38am
the bulls are coming back
  • #545,642
  • Sep 1, 2020 9:42am Sep 1, 2020 9:42am
Quoting forexdhaka
nothing changed it was just a news sell off
even better price to load lots of buys
  • #545,643
  • Sep 1, 2020 9:42am Sep 1, 2020 9:42am
THE drop is here .
bullish ingulfing h4 candle at the dx
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yes yes yes
  • #545,644
  • Sep 1, 2020 9:54am Sep 1, 2020 9:54am
look at the 5 min bullish candles gbpusd
be patient
  • #545,645
  • Edited 10:18am Sep 1, 2020 10:04am | Edited 10:18am
Attached Image (click to enlarge)
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yes yes yes
  • #545,646
  • Sep 1, 2020 10:28am Sep 1, 2020 10:28am
Quoting Roszey
{quote} Tell said. Also do you know news are lagging and most of the time the market has already reacted to the news data before it is been released.?? Only a few sites publish news that immediately after the market prices and change the technical outlook. It's not free though
Yes, this is of course the case. Trying to trade the news based on the news themselves is suicidal: when you receive them, market already reacted, either in the instant after the news release, or by positioning in the hours/days before. Still, one can make money by fading exaggerated moves (pump and dump), especially in the direction against the larger trend. Not that I am good at it though.
Also, very rarely, market does not have an edge; for instance, I pressed the buy button the moment I saw UK election results on TV, and was not disappointed.
  • #545,647
  • Sep 1, 2020 10:37am Sep 1, 2020 10:37am
Bear/bull trap coming up.

4H dip. only completed one swing down , as can be seen on hourly , next swing should be up to complete the bear/bull trap then the next down swing to complete the 4h dip
Follow The Markets Structure - Patience and Discipline
  • #545,648
  • Sep 1, 2020 10:44am Sep 1, 2020 10:44am
Quoting pipfarm
Bear/bull trap coming up. 4H dip. only completed one swing down , as can be seen on hourly , next swing should be up to complete the bear/bull trap then the next down swing to complete the 4h dip
Isn't the ~50 pip swing up (from 1.3408 to 1.3456) enough to trap the bulls? Just wanted to understand your thinking.
  • #545,649
  • Sep 1, 2020 11:01am Sep 1, 2020 11:01am
Quoting VM.
{quote} Isn't the ~50 pip swing up (from 1.3408 to 1.3456) enough to trap the bulls? Just wanted to understand your thinking.

my thinking is that all corrective swings have internally three swings or more depending on the pattern , swing 2 is always the trap and should have 3 swings within its internal structure.
Follow The Markets Structure - Patience and Discipline
  • #545,650
  • Sep 1, 2020 11:12am Sep 1, 2020 11:12am
Quoting pipfarm
{quote} my thinking is that all corrective swings have internally three swings or more depending on the pattern , swing 2 is always the trap and should have 3 swings within its internal structure.
I guess,my question was, why the swing you can see on m30, does not count as swing 2 (or maybe it does?).
  • #545,651
  • Sep 1, 2020 11:26am Sep 1, 2020 11:26am
Quoting Wavegarrick
{quote} Hi Guys, I added a buy trade at 1.34175 with a 25 pip stop. Target 1.3500. They could take price up some more today being Tuesday and drop it tomorrow or Thursday. Trade safe Cheers. {image}
Hi Guys,
It is what it is. A retest of the round number 1.34000 (Green Highlight) was always going to be on the cards. I have opened 3 more buy trades with between 25 and 40 pip stops. A 4hr close below 1.34 will invalidate my view and I will look at closing trades with an ominous test of my weekly pivot at 1.32547.

Trade safe,
Cheers.
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Trade to trade another day
  • #545,652
  • Sep 1, 2020 11:34am Sep 1, 2020 11:34am
The thread is quiet, lots of bull are in no man's land lol, the fall continues
  • #545,653
  • Sep 1, 2020 11:38am Sep 1, 2020 11:38am
Took the long road today making money....LOL
Expect some jawboning from someone in the UK government this week, the strong pound is causing concern with some traders in the UK....

https://www.forexlive.com/technical-...e-day-20200901
Don't Leave Money on the Table
  • #545,654
  • Sep 1, 2020 11:40am Sep 1, 2020 11:40am
Quoting epzero
The thread is quiet, lots of bull are in no man's land lol, the fall continues
I was a bear the whole time, hence 'The Long Road'
Didn't mean to be a bear, head just wasn't in the game today but still brought home the bacon

Was just about to cash out some shorts then we had that 'Bull trap'..........was thinking this is gonna be a long night LOL
Don't Leave Money on the Table
  • #545,655
  • Edited 12:02pm Sep 1, 2020 11:47am | Edited 12:02pm
Quoting VM.
{quote} I guess,my question was, why the swing you can see on m30, does not count as swing 2 (or maybe it does?).
VM., it's a judgement call...please read these two excerpts from Murphy's book "Technical Analysis of the Financial Markets"
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Always trade your own plan...I don't provide trading signals.
  • #545,656
  • Sep 1, 2020 11:48am Sep 1, 2020 11:48am
Quoting Wavegarrick
{quote} Hi Guys, It is what it is. A retest of the round number 1.34000 (Green Highlight) was always going to be on the cards. I have opened 3 more buy trades with between 25 and 40 pip stops. A 4hr close below 1.34 will invalidate my view and I will look at closing trades with an ominous test of my weekly pivot at 1.32547. Trade safe, Cheers. {image}
Nice going Wavegarrick! it looks like an abc correction on M5/M1, I have 1.3382 as possible leve for wave c end
Attached Image (click to enlarge)
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  • #545,657
  • Sep 1, 2020 11:55am Sep 1, 2020 11:55am
my buy limit order activated
test trade, small lot
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Like your wife says, hold the fucking position until I tell you I'm done.
  • #545,658
  • Sep 1, 2020 12:00pm Sep 1, 2020 12:00pm
The re-enforcement should be troubling for those looking to short 1.35 round number.. With my limited experience, price may glance through that handle with such pullback..

Me and my neighbors will start stacking at 1.33836..

StaySafe
  • #545,659
  • Sep 1, 2020 12:02pm Sep 1, 2020 12:02pm
Damnn.. before I could finish typing
  • #545,660
  • Sep 1, 2020 12:07pm Sep 1, 2020 12:07pm
Quoting JayBag
Damnn.. before I could finish typing
you wil get it
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