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Cable Update (GBPUSD)

  • #547,921
  • Sep 13, 2020 3:52pm Sep 13, 2020 3:52pm
I'm seeing that Cable will be going down to 12500 ish because last friday candle is the last bullish attemp to reverse the trend you can see that lat Friday candle is move heavily towards bearish trend.

If monday Tokyo session is traded below opening price. then expect for bullish movement in Thursday. aka trend reversal

If monday Tokyo session is traded above opening price. Then expect bullish movement in Thursday. Aka trend Continuation.

All this depends on tuesday or Wednesday higher high or lower low. Higher high means bearish lower low means bullish will happen soon. Or worse sideways aka price consolidation.
  • #547,922
  • Sep 13, 2020 3:55pm Sep 13, 2020 3:55pm
Are you tracking the GBPUSD market this week? Here's a technical perspective you may consider. An evening star formation can be seen on the GBPUSD weekly time frame. The order flow context on the daily time frame presently favours bears more than bulls. Apart from the possible corrective northward retracement or sideways we may see in the early part of this week, bears have the potential to drive price action further southward. The 1.26200/1.25200 zone (Sandybrown) is the next horizontal support on the daily time frame.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #547,923
  • Sep 13, 2020 4:09pm Sep 13, 2020 4:09pm
I hoped G/U would go up for a better sell level. A gap down straight to the support does not look good. It is a strong support though.
  • #547,924
  • Sep 13, 2020 4:12pm Sep 13, 2020 4:12pm
Quoting OnlineAddict
{quote} Looks like we'll have a small gap up of 20 pips.
XE is becoming completely useless lately...showing a gap up even 1 minute before market opens and then price opens with a small gap down.
Everyone can see the chart, but only a few can actually read it.
  • #547,925
  • Sep 13, 2020 4:31pm Sep 13, 2020 4:31pm
Here is a scenario for cable that i think is more probable given the confusion among analysts which is often the case with the type of pattern i talk about

Looking at the weekly i see a broadening formation , internal stucture is 3-3-3-3-3 /a-b-c-d-e

What is the significance?

The broadening triangle is a corrective pattern, the question is , has (e) finished and wave (e) failed to make a new high, or is it still in progress?


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Follow The Markets Structure - Patience and Discipline
  • #547,926
  • Sep 13, 2020 6:01pm Sep 13, 2020 6:01pm
Quoting navk
{quote} any reasons for this number George? Can you provide charts ? My reasoning is 200 day SMA.
I like the fact that your buying with a reason unlike George that don’t have a reason
  • #547,927
  • Sep 13, 2020 6:23pm Sep 13, 2020 6:23pm
Quoting pipfarm
Here is a scenario for cable that i think is more probable given the confusion among analysts which is often the case with the type of pattern i talk about Looking at the weekly i see a broadening formation , internal stucture is 3-3-3-3-3 /a-b-c-d-e What is the significance? The broadening triangle is a corrective pattern, the question is , has (e) finished and wave (e) failed to make a new high, or is it still in progress? {image}
Are you predicting GBPUSD @ 0.95 (or lower) in the next few months based on that expanding triangle?
  • #547,928
  • Sep 13, 2020 6:23pm Sep 13, 2020 6:23pm
Quoting epzero
{quote} I like the fact that your buying with a reason unlike George that don’t have a reason
Will you join them to buy from here too? Or is the stronger dollar over yet?
Keep the Lights on then you can catch the rise from the dark.
  • #547,929
  • Sep 13, 2020 6:29pm Sep 13, 2020 6:29pm
Quoting ricmaj
{quote} Will you join them to buy from here too? Or is the stronger dollar over yet?
It’s too early to tell the market direction , I’ll wait till later in the day it’s safer to sell than to buy cable right now , because the buy is limited
  • #547,930
  • Sep 13, 2020 6:31pm Sep 13, 2020 6:31pm
Morning Trade with small size
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  • #547,931
  • Sep 13, 2020 6:49pm Sep 13, 2020 6:49pm
evening all
  • #547,932
  • Sep 13, 2020 7:51pm Sep 13, 2020 7:51pm
Quoting epzero
{quote} I like the fact that your buying with a reason unlike George that don’t have a reason
i quote you before at my thread..
don't know you read them or not..
how about stop criticism about other traders mate???
focus at your own trading..
also how about show or post your skill and trading here than your keep posting about others mistake..
wise trader did not do what you're doing here..only wasted your time by keep following what he is doing..
or 'YOU'RE REALLY LIKE AND ADMIRE HIM..???
if not so show us what your skill by posting your view and opinion..not by keep posting critiicism about others traders.
i never seen any of your call yet...
only after some move then claim catch 30-40pips green pips.,if that way can prove you're good so my 13 yrs old son also can do or posting like you did and claim he is great/pro trader..
stop fooling around by keep following his taiL..
nobody is perfect at this business..mistake is a normal thing at forex or our life..
but wise traders or person they try to make less mistake by improve them time to time..
better start posting what your skill or trading system here..
take care..
️
just for a cup of coffee...
  • #547,933
  • Sep 13, 2020 7:58pm Sep 13, 2020 7:58pm
Quoting pipfarm
Here is a scenario for cable that i think is more probable given the confusion among analysts which is often the case with the type of pattern i talk about Looking at the weekly i see a broadening formation , internal stucture is 3-3-3-3-3 /a-b-c-d-e What is the significance? The broadening triangle is a corrective pattern, the question is , has (e) finished and wave (e) failed to make a new high, or is it still in progress? {image}
excellent question??? reality is the expanding triangle has neat support & resistance, perfect for range trading until they break!!!
If you are new to Forex? Say Goodbye to your account!!
  • #547,934
  • Sep 13, 2020 8:17pm Sep 13, 2020 8:17pm
Quoting epzero
{quote} It’s too early to tell the market direction , I’ll wait till later in the day it’s safer to sell than to buy cable right now , because the buy is limited
it ok..
leave it to me for buy side..
if faiL i took the loss..
here my position..
and stop criticism others traders around..
be a wise person or trader..
start show us your work then just bla..bla..bla..
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just for a cup of coffee...
  • #547,935
  • Sep 13, 2020 8:47pm Sep 13, 2020 8:47pm
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yes yes yes
  • #547,936
  • Sep 13, 2020 8:54pm Sep 13, 2020 8:54pm
show him zero,
  • #547,937
  • Sep 13, 2020 10:48pm Sep 13, 2020 10:48pm
Quoting navk
eu, ej, au under scanner by me for possible short on Monday
cot is a bit dicey
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feel free to invite me to your forum, if you have any
  • #547,938
  • Sep 13, 2020 10:51pm Sep 13, 2020 10:51pm
Long to 1.30xx?
  • #547,939
  • Sep 13, 2020 11:42pm Sep 13, 2020 11:42pm
Quoting akim0895
{quote} i quote you before at my thread.. don't know you read them or not.. how about stop criticism about other traders mate??? focus at your own trading.. also how about show or post your skill and trading here than your keep posting about others mistake.. wise trader did not do what you're doing here..only wasted your time by keep following what he is doing.. or 'YOU'RE REALLY LIKE AND ADMIRE HIM..??? if not so show us what your skill by posting your view and opinion..not by keep posting critiicism about others traders. i never seen any of your...
I’ve given many call on this thread I’ve been bearish since the past two weeks and gave a bullish call on Friday so I don’t get what your saying. I’ve posted reasons to support my calls based on brexit so I don’t get why my post is getting to you, someone that doesn’t have a sense of market direction and makes people loss money is that who you will rather have the crowd follow ? My call has given over 500pips or more in the past two weeks so I don’t get your 30-40pips.Even when JayBag was ranting that I was a baby trader and that market will start buying back it only went deeper and he went into the ghost. I’m very sure anyone who has been reading my post would have made money since the start of the month, navk gave a reason for the buy , George didn’t, so until he has facts to back up his system all he has been posting is trash and we can’t have people posting trash here, lot of people follow some member because they are red tag and loss real money.
  • #547,940
  • Sep 13, 2020 11:43pm Sep 13, 2020 11:43pm
Quoting navk
{quote} any reasons for this number George? Can you provide charts ? My reasoning is 200 day SMA.
* Monthly range already 720 pips which is just 92 pips below the recent maximum monthly range being 817 and 811 pips being October 2019 and July 2020 ranges. So risk reward favours buying...

* The move from June Low of 1.2250 to September high of 1.3481 contains 1231 pips, which equates move from 1.1409 March low to 1.2646 April high also being 1237 pips which followed up with CORRECTION to 1.2073 May Low being 573 pips, before AGGRESSIVE bounce to 1.2812 June high to break the previous 1.2642 April high by 170 pips.

Now this current move from 1.2250 - 1.3481 has met a correction even deeper than 571 pips which is currently 720 pips and may extend to 820 pips 1.2760/1.2660 will meet a rally back to break the previous high of 1.3481 by 170 to 210 pips being 1.3650/1.3690 area in months ahead.

* August - December ranges points at possible 820 to 1500 pips range, which means a pause CORRECTION to 1.26/1.27 area will add further 800/1000 pips to fulfil the anticipated AUGUST - DECEMBER which takes us to 1.34/1.36 area at second attempt in months ahead.

* First half of the year was selling 1.32 to 1.14 second half of the year was buying 1.22 to 1.34, there will be some pause and reversal in between for momentum gathering and here we have the wave reversal before another round of buying will resume again later in the year.

* Also note worthy that 6 of the last 9 years DECEMBER have produced the highest or lowest price of the year. So a return to 1.34/1.36 area in months ahead is expected.

This fall should and would be limited to 1.27/1.24 area, hence prepare equity that can tolerate 1.24 and target 1.34/1.36 area in months ahead.

Peace.
Data + Stat + Risk/Emotions Management
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