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Cable Update (GBPUSD)

  • #555,621
  • Oct 29, 2020 11:38am Oct 29, 2020 11:38am
Quoting Georginson
Better buy 1.2885 target 1.3000
I expect a temporary retracement to 1.2930/1.2940 area, then price will drop tomorrow to retest 1.2860/1.2885 area before final take off to close the week tomorrow at 1.2990/1.3010 area.
Data + Stat + Risk/Emotions Management
  • #555,622
  • Oct 29, 2020 11:42am Oct 29, 2020 11:42am
Quoting nutgm5169
m30 just have bull bar so now gu can jump?
dx need correction
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yes yes yes
  • #555,623
  • Oct 29, 2020 11:46am Oct 29, 2020 11:46am
Quoting Georginson
{quote} I expect a temporary retracement to 1.2930/1.2940 area, then price will drop tomorrow to retest 1.2860/1.2885 area before final take off to close the week tomorrow at 1.2990/1.3010 area.
try putting it a chart
its easier than typing ,trouble is thats a step up from all those words
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #555,624
  • Oct 29, 2020 11:48am Oct 29, 2020 11:48am
Quoting Bones
{quote} try putting it a chart its easier than typing ,trouble is thats a step up from all those words
Please tell no one, I don't know how to draw charts, perhaps I can get someone here to tutor me on that.

I prefer to explain in words but charts plotting too will do better job.
Data + Stat + Risk/Emotions Management
  • #555,625
  • Edited 12:00pm Oct 29, 2020 11:49am | Edited 12:00pm
some just say up or down ,some more specific ,
they don't use any chart because thats much harder is my only guess
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #555,626
  • Edited 12:51pm Oct 29, 2020 11:52am | Edited 12:51pm
... just back at desk updating charts - seeing what I missed. Downside breech of asc (ascending) daily t/line in further leg down...price also breeched the 50% of 2674-3176 and found demand at the top of the 1hr/4hr/dly prev sw lo x 2 zone that extends to 2861, (61.8% of same move @ 2865,) with same below that extending to 2844. 1st ppa (potential problem area) for bulls is that area in light blue = a prev 1hr/4hr sw lo = prev supp = pot sbr zone shown on 4hr chart below. This likely extends to 2940.

Price @ the current dly lo @ 118% of 30 day adr and 23.6% ext (extension) of y/day's pip range.
Attached Image (click to enlarge)
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Trader with an Edge.
  • #555,627
  • Oct 29, 2020 11:52am Oct 29, 2020 11:52am
Quoting Georginson
{quote} Please tell no one, I don't know how to draw charts, perhaps I can get someone here to tutor me on that. I prefer to explain in words but charts plotting too will do better job.
I don't think you're right George ,I'm struggling with that close
weekly is engulf right now
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #555,628
  • Oct 29, 2020 11:57am Oct 29, 2020 11:57am
maybe goto that tl thats defiantly broke
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #555,629
  • Oct 29, 2020 12:00pm Oct 29, 2020 12:00pm
Quoting Bones
my only guess is people use words , some just say up or down ,some more specific ,they don't use any chart because thats much harder
Not true. Words are more definitive. When charts are posted without words, it can be misinterpreted. Not everyone has the same level of understanding.
I will tear the world apart for you.
  • #555,630
  • Oct 29, 2020 12:07pm Oct 29, 2020 12:07pm
I think it will be a doji at least ,so we must close out w1 engulf
$ is bullish on a tear ,likely close is bullish on $

Doji after engulf is something we would need confirm for as bullish ,reverse doji doesn't come after swing engulf.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #555,631
  • Oct 29, 2020 12:08pm Oct 29, 2020 12:08pm
Quoting Bones
maybe goto that tl thats defiantly broke {image} {image}
7 of the previous 9 months last trading days of the month have been bullish. In addition, There is a support at 1.2860 area which is also a coincidence of weekly range of 230 pips.

The bearish weekly candle most times have a lower wick.
Data + Stat + Risk/Emotions Management
  • #555,632
  • Oct 29, 2020 12:08pm Oct 29, 2020 12:08pm
Quoting Barnell
{quote} Not true. Words are more definitive. When charts are posted without words, it can be misinterpreted. Not everyone has the same level of understanding.
I've realized people can be grouped into one of those categories, those who are visual and like to express their view using charts (me included) and those who like to explain it in very detailed writing. I know which one I prefer, but it does not mean the other way is superior or inferior. It's just a different way of communication.
  • #555,633
  • Oct 29, 2020 12:11pm Oct 29, 2020 12:11pm
Quoting Bones
I think it will be a doji at least ,so we must close out w1 engulf $ is bullish on a tear ,likely close is bullish on $ Doji after engulf is something we would need confirm for as bullish ,reverse doji doesn't come after swing engulf. {image}
You may have to look into the forecast I made on Monday
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Data + Stat + Risk/Emotions Management
  • #555,634
  • Oct 29, 2020 12:14pm Oct 29, 2020 12:14pm
Quoting Barnell
{quote} Not true. Words are more definitive. When charts are posted without words, it can be misinterpreted. Not everyone has the same level of understanding.
words leave so much to interpretation ,theres no time on words ,people come back after saying something all day long quoting words without reason.
you can't tell me a picture is a thousand words saying is wrong
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #555,635
  • Oct 29, 2020 12:15pm Oct 29, 2020 12:15pm
...you can see on the dly below that the prev sw lo zone that extends down to 2844 was tested twice before (14th & 16th Oct) and held as support (light blue zone) and the top of it has been tested again by price today at today's current dly lo where again demand was found.
Attached Image (click to enlarge)
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Trader with an Edge.
  • #555,636
  • Oct 29, 2020 12:25pm Oct 29, 2020 12:25pm
Lets see now.

nessus, bernie, moty and georgie are all bullish?

that is the kind of a condition i like!

i will continue trading against all of them! + will hedge, to add more confusion...

here is the thing.

when wrong, nessus and georgie are missing the rate to pass behing them with some 200-300 pips. usually.
Maadik Hugiis. IQ 69.
  • #555,637
  • Oct 29, 2020 12:26pm Oct 29, 2020 12:26pm
Quoting Georginson
{quote} 7 of the previous 9 months last trading days of the month have been bullish. In addition, There is a support at 1.2860 area which is also a coincidence of weekly range of 230 pips. The bearish weekly candle most times have a lower wick.
dollar index is supper strong so if it breaks that price nothing will stop cable from falling even if it's the last trading day of the month. Like you said 7 out of 9 meaning those 2 months can be 3 if tomorrow ends up selling.
  • #555,638
  • Oct 29, 2020 12:32pm Oct 29, 2020 12:32pm
...supply being met at bottom of that prev 1hr/4hr sw lo x 2 zone [prev day's lo] 2911-40/23.6% of the move down today. 1hr is below.
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Trader with an Edge.
  • #555,639
  • Oct 29, 2020 12:39pm Oct 29, 2020 12:39pm
Quoting Barnell
{quote} Not true. Words are more definitive. When charts are posted without words, it can be misinterpreted. Not everyone has the same level of understanding.
got me thinking, you must thinking putting pictures with instructions is crazy
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #555,640
  • Oct 29, 2020 12:40pm Oct 29, 2020 12:40pm
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yes yes yes
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