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Cable Update (GBPUSD)

  • #552,341
  • Oct 10, 2020 9:49am Oct 10, 2020 9:49am
Its weekend guys
Here what I see for this month movement
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  • #552,342
  • Oct 10, 2020 9:58am Oct 10, 2020 9:58am
Quoting Zircon
{quote} you are from uk and that is an graphic display of the pound related everything fundamental and politics and so on...right? As i understood you are surprised how we can makes pound surge with all those mountains dangerous deviation and all those obstacles.. but it climbs? 3762138 {image}
the graphic is right ,because it sensed a reckless assault the to peak without proper rest We have to see if it's right later
It's drunk as a skunk right now
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #552,343
  • Oct 10, 2020 9:58am Oct 10, 2020 9:58am
Quoting Bones
{quote} I don't know without seeing it open,I'm conscious of a too strong bearish bias, when I think it's actually range this year. It can go to the star-gap ,if it does that now, then its will tank like before. I will take the highest leverage possible blind short at the gap, should it go now.

G.L B

I have to drink some tizane, fever .
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #552,344
  • Oct 10, 2020 1:42pm Oct 10, 2020 1:42pm
I think it's a decent area above to look for bear signs
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Compulsions can be hard to resist
  • #552,345
  • Oct 10, 2020 2:08pm Oct 10, 2020 2:08pm
Quoting trumps
I think it's a decent area above to look for bear signs {image} {image}
Been saying that since 2700.

Quoting OnlineAddict
Waiting for 3170-3240.
Everyone can see the chart, but only a few can actually read it.
  • #552,346
  • Oct 10, 2020 2:16pm Oct 10, 2020 2:16pm
Quoting OnlineAddict
{quote} Been saying that since 2700. {quote}
That's good to know OA
Compulsions can be hard to resist
  • #552,347
  • Edited 3:50pm Oct 10, 2020 3:06pm | Edited 3:50pm
That's wave one just like before ,this a correction highlighted by its ugly nature.800down - 360up thats 50%
I'm willing to accept abc I like a 5 wave down because that reaches the gap, a natural target.
We can all accept this- it's not a wave 4 continuation, because even a line chart goes below wave 1 on the upward move.What I take from Elliott wave is
The principle of that rule = it cannot recover the lost momentum to go higher, without doing something else.You cannot see it happen and think its a 4 reliably.

I say it slow-it's 800 in a straight line down wiping out a bunch of other local candles for those shopping for bullish bunting decorations....
It looks like the exact opposite to me of the start of the up, but longer starting wave.That one also had a bunch of look left local consolidation in its bearish way wave 2...
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #552,348
  • Oct 10, 2020 3:35pm Oct 10, 2020 3:35pm
Case for more of this bull run this coming week.

See weekly chart.

Attached Image


Weekly coming up off 50 Fibs. Above weekly 200 SMA. Weekly RSI over 50. Weekly Stochastic turning up. Just broke over and through weekly resistance.

Still have a gap to fill from weekend of September 3-6. Gap will fill around 1.32750 area.

Dollar seems to be tanking. Looking positive for some kind of Brexit deal -- maybe.
  • #552,349
  • Oct 10, 2020 5:21pm Oct 10, 2020 5:21pm
I feel like were going back to the 1.4 area in the future, i dont see us breaking down towards 1.2 again as thats the bottom of this big consolidation we've been in
Markets break out of consolidation because all the orders in that range get filled, with current PA and huge rejection off the 1.2 level i think its time for a break of 1.35
  • #552,350
  • Oct 11, 2020 1:43am Oct 11, 2020 1:43am
Quoting Bones
{quote} it is bullish sandwich, you should have commented ,I miss you If I look with a critical eye now, the one we were looking at there were two candles prior, was the problem .Also thats bullish sandwich off a major number, the other was under major... only I know this level we are at is super important ,because thats were the shooting star failed to break.Also thats the start of evening star pattern & underside of former tl. I'm suggesting before rolling out the bullish bunting you see the open , huge evening star trumps any sandwich...
Interesting to find you using the term "Sandwich"
Le$$ I$ More
  • #552,351
  • Oct 11, 2020 1:55am Oct 11, 2020 1:55am
My weekly projections.. I Will wait for a retest before going long.
Maybe wrong
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Le$$ I$ More
  • #552,352
  • Oct 11, 2020 2:49am Oct 11, 2020 2:49am
gbpusd.
the mathematic forecast predicts that this pair will decline next Monday.
we'll see.
  • #552,353
  • Oct 11, 2020 3:17am Oct 11, 2020 3:17am
Quoting Bones
That's wave one just like before ,this a correction highlighted by its ugly nature.800down - 360up thats 50% I'm willing to accept abc I like a 5 wave down because that reaches the gap, a natural target. We can all accept this- it's not a wave 4 continuation, because even a line chart goes below wave 1 on the upward move.What I take from Elliott wave is The principle of that rule = it cannot recover the lost momentum to go higher, without doing something else.You cannot see it happen and think...
Hi Bones,

I respect your knowledge on candle sticks and TL but this time, I am going to be constructive with my criticism. I think you are only re-drawing TL after a failed one. In my early years, I do this a lot. Every time a support fails, I re-draw another just to be hopeful and it fails yet again.

I do not think we heading back down anytime soon (IMO) .. This new weekly candle is likely to be a full blown bull. Having said that, anything below weekly open will be bought.

I would support your bear idea if we broke the weekly 20MA but that did not happen instead we have a bounce right there.. I would be extremely careful looking to short it.

Lets look at monthly. We have a close above 20MA and a confirmation candle above it.. We recently retested 50% of that BO on the monthly . With my limited experience with such BO on smaller TF, I don’t think I want to take it lightly on a monthly TF.

Lastly, 2020 is a bullish year that will develop into 2021. 1.50 is a target that may happen this year with the help of election spike or gradually happen next year..

The above is my opinion and not facts.
We all have to see how it plays out.

Let’s have a great week.
Stay Safe Bones
  • #552,354
  • Oct 11, 2020 3:32am Oct 11, 2020 3:32am
poll:
Biden 45
Trump 40

usd

3 Nov: Trump ️
(maybe more usd fall until the final data)

usd
Maadik Hugiis. IQ 69.
  • #552,355
  • Oct 11, 2020 5:53am Oct 11, 2020 5:53am
cot gbp/usd long position increased,, it ill go up
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  • #552,356
  • Edited 8:17am Oct 11, 2020 7:54am | Edited 8:17am
Quoting JayBag
{quote} Hi Bones, I respect your knowledge on candle sticks and TL but this time, I am going to be constructive with my criticism. I think you are only re-drawing TL after a failed one. In my early years, I do this a lot. Every time a support fails, I re-draw another just to be hopeful and it fails yet again. I do not think we heading back down anytime soon (IMO) .. This new weekly candle is likely to be a full blown bull. Having said that, anything below weekly open will be bought. I would support your bear idea if we broke the weekly 20MA but...
Hi Jay ,no problem which tl do you think I re drew
My outlook is over a few months or weeks only as I see range, your outlook is over a different span of time ,longer term up to a year,
that leaves the weekly.I can only judge it after Monday, but I put up ideas in line with current last monthly.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #552,357
  • Oct 11, 2020 7:58am Oct 11, 2020 7:58am
this is the plan for tomorrow
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yes yes yes
  • #552,358
  • Oct 11, 2020 8:03am Oct 11, 2020 8:03am
GBPUSD 4h.....1.3083 is BREAKOUT TP
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  • #552,359
  • Oct 11, 2020 8:25am Oct 11, 2020 8:25am
Quoting Moty
this is the plan for tomorrow {image}
you expecting a dip before the up?
Insane in the Brain..
  • #552,360
  • Oct 11, 2020 8:38am Oct 11, 2020 8:38am
Quoting shahab8b
{quote} The weekly close will be very bullish. I think it formed a W pattern. This is no longer a short based on daily or weekly chart. {image}
I consider the daily trend bullish as long as it remains above 1.2850-1.29
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