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Cable Update (GBPUSD)

  • #559,501
  • Nov 18, 2020 7:18am Nov 18, 2020 7:18am
Quoting JayBag
Any fan of W here? Well, thought I share yet again. It's not further math..just alphabet What do traders think? mostly long term guys.. SS {image}
I saw 1.34 coming. 1.326 hold well now. :-):-):-)
  • #559,502
  • Nov 18, 2020 7:18am Nov 18, 2020 7:18am
Quoting Barnell
{quote} Not looking to pick a fight and as I said Onlineaddict is a good trader. Let me say it again-Onlineaddict is a good trader. But considering bulls have been winning for like the last 2 days of last week and the entire week thus far, I find it a little ludicrous for a bear to come in and offer condoelences. I told everyone to go long since Friday and over the weekend. Over a 100 pips would had been made easily. If you're smart bull, you can TP and enjoy or protect your profits with a SL @ BE. Tell me, what condolences can one offer to the...
You have my respect for admitting the obvious thing about online addict.

Your call was good and accurate also. The only difference here is that your analysis and calls are short termed which isn't bad in anyway but inexperience traders may be caught buying at the top and may be out of trade without proper caution that trend may change suddenly.
Data + Stat + Risk/Emotions Management
  • #559,503
  • Nov 18, 2020 7:20am Nov 18, 2020 7:20am
Hello. Quel Surprise !...more upside and then supply encountered at the dly desc t/line that joins 3482 with 3314 in that prev 1hr/4hr/dly sw hi zone to 3314. Mthly R1 just above the current dly hi @/around 3306 330 is 78.6% of the 3482-2675 fall in that zone, then Dly R2 is @ 3324. Dly is below.
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Trader with an Edge.
  • #559,504
  • Nov 18, 2020 7:22am Nov 18, 2020 7:22am
Quoting Ksth
{quote} I saw 1.34 coming. 1.326 hold well now. :-):-):-)
My thoughts exactly. I can smell Spike-Lee in the room.
Let's see

SS
  • #559,505
  • Nov 18, 2020 7:24am Nov 18, 2020 7:24am
Quoting JayBag
{quote} My thoughts exactly. I can smell Spike-Lee in the room. Let's see SS
Haha.. Good luck and green pips. coming.. Hahaha
  • #559,506
  • Nov 18, 2020 7:27am Nov 18, 2020 7:27am
Quoting Barnell
{quote} For what it is worth, I am still holding my longs, but I am not buying from this level. Cheers.
Well said mate
So many people don't understand that it is not the BUY or SELL but WHERE you buy or sell. Price is Key

Sometimes i don't understand why people want to argue with that.
Le$$ I$ More
  • #559,507
  • Nov 18, 2020 7:28am Nov 18, 2020 7:28am
Quoting IPMan
Talking about 800+ pips GU {image}
And ?
Make money by doing the opposite of Giveachance aka loser
  • #559,508
  • Nov 18, 2020 7:29am Nov 18, 2020 7:29am
Quoting Georginson
{quote} You have my respect for admitting the obvious thing about online addict. Your call was good and accurate also. The only difference here is that your analysis and calls are short termed which isn't bad in anyway but inexperience traders may be caught buying at the top and may be out of trade without proper caution that trend may change suddenly.
I don't have the patience to hold trades for too long, which is a personal preference. Besides, it seems that brokers are getting more petty with swaps. For instance, my broker used to give me good swaps for selling gold and cable, but now doing so actually incur swap. I have actually changed my strategy to keeping trade durations short. OA likes to hold his trades, which is fine. I just don't.
I will tear the world apart for you.
  • #559,509
  • Nov 18, 2020 7:30am Nov 18, 2020 7:30am
3298 is the high for the day and the week.

IMO.

However, the weekly high would be confirmed after daily close
Intraday only.
  • #559,510
  • Nov 18, 2020 7:31am Nov 18, 2020 7:31am
US data-building permits missed expectations.
I will tear the world apart for you.
  • #559,511
  • Nov 18, 2020 7:32am Nov 18, 2020 7:32am
... I asked George and Online @ the weekend about their bearish bias and they both kindly explained their analysis in reply post replies to my question. Now, @ the weekend as of Friday's market close, as I posted, the bias was clearly bullish per fractal swing analysis of chart conditions on 1hr through to weekly chart, with monthly ranging - bearish with recent strength off 2675. So per that analysis - no surprise to me that we have seen more upside this week so far. That was the higher probability at least in the short term per that analysis - but of course there are other types of analysis equally valid, whether they turn out to be right or wrong on any individual occassion.

We all use different analysis to determine bias/higher probability but what surprises me always is the absolute conviction with which people post a bias, when actually all we can really do is assess the higher probability if it is clear per your own analysis, which is based on what is to the left of current price (ie what has already happened) and repeating patterns of market behaviour. What is to come to the right of current price - no one knows - as my signature says below - 'Anything can happen.'

There is a tendency on this thread to judge traders who bravely post analysis/views one one individual outcome which is crazy - none of our analysis produces the correct outcome 100% of the time. Your stop loss or margin call (!) will tell you if our analysis on that occasion was wrong. It may even have been right longer term but remember in trading we have to be right - at the right time because being right at the wrong time is the same as being wrong.
Trader with an Edge.
  • #559,512
  • Nov 18, 2020 7:34am Nov 18, 2020 7:34am
Quoting OnlineAddict
{quote} Well, I have a good memory...not long ago GU was at 2100...nobody was talking about longs...then it was below 2700 just recently, nobody was talking about longs either. So I don't care what the people are talking about or trading...it always looks the weakest before a big spike up and the strongest before a big drop, I thought this was common knowledge, we are talking about this like 20 times a year, every year...yet people still keep buying a strong pound and selling a weak one. And I am tired of repeating myself, so I will just come back...

Sounds like your a swing trader to me, its a completely different strategy to most here and like all strategies its works sometimes and fails others, its not the be all and end all of strategies
Follow The Markets Structure - Patience and Discipline
  • #559,513
  • Nov 18, 2020 7:35am Nov 18, 2020 7:35am
Quoting Headland
... I asked George and Online @ the weekend about their bearish bias and they both kindly explained their analysis in reply post replies to my question. Now, @ the weekend as of Friday's market close, as I posted, the bias was clearly bullish per fractal swing analysis of chart conditions on 1hr through to weekly chart, with monthly ranging - bearish with recent strength off 2675. So per that analysis - no surprise to me that we have seen more upside this week so far. We all use different analysis to determine bias/higher probability but what surprises...
I believe when we posted our bullish views, we were expecting to TP within the week. I like to keep trade durations short, TP fast and spend the money on scotch and hookers.

As for George and OA, they are looking for a huge move that will materialize later and they are building positions.

My guess.
I will tear the world apart for you.
  • #559,514
  • Nov 18, 2020 7:36am Nov 18, 2020 7:36am
Quoting pipfarm
{quote} Sounds like your a swing trader to me, its a completely different strategy to most here and like all strategies its works sometimes and fails others, its not the be all and end all of strategies
No, I am not...I get in and out "quickly", mostly in for 30-50 pips at a time, BUT I trade in the direction I think its going towards, not against it. I am all for scalping, just not in both directions, unless we are stuck in a range. If GU dropped 1000 pips from here, I wouldn't leave a trade open that long...I would try to make 2000-3000 pips on the move down, but buying the spikes and getting out during each drop.
Everyone can see the chart, but only a few can actually read it.
  • #559,515
  • Nov 18, 2020 7:42am Nov 18, 2020 7:42am
Quoting Barnell
{quote} I believe when we posted our bullish views, we were expecting to TP within the week. I like to keep trade durations short, TP fast and spend the money on scotch and hookers. As for George and OA, they are looking for a huge move that will materialize later and they are building positions. My guess.

...reminds me of the old George Best quote '...I spent 90% of my money on booze and women and wasted the rest. '
Trader with an Edge.
  • #559,516
  • Nov 18, 2020 7:43am Nov 18, 2020 7:43am
Quoting Roszey
{quote} Well said mate So many people don't understand that it is not the BUY or SELL but WHERE you buy or sell. Price is Key Sometimes i don't understand why people want to argue with that.
Not really, the key is to wear a condom when you have a good time with whores...wait, what were we talking about?

Nah really, the current market is so volatile nowadays, the best piece of advice anyone can give is timing and to protect yourself with SLs, especially when your trades are already green-a SL @ BE doesn't hurt.
I will tear the world apart for you.
  • #559,517
  • Nov 18, 2020 7:43am Nov 18, 2020 7:43am
Quoting navk
3298 is the high for the day and the week. IMO. However, the weekly high would be confirmed after daily close
yes , the drop is coming
dx is creeping to get above 92.500 again
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yes yes yes
  • #559,518
  • Nov 18, 2020 7:44am Nov 18, 2020 7:44am
Quoting Headland
{quote} ...reminds me of the old George Best quote '...I spent 90% of my money on booze and women and wasted the rest. '
Ah...George Best. I'm not really a soccer fan, but my dad used to tell me tales about George Best and I believe I did watch him on TV back when I was young (although I have no memories of him particularly).
I will tear the world apart for you.
  • #559,519
  • Nov 18, 2020 7:45am Nov 18, 2020 7:45am
Woot.. Gold looking good.. Hahaha free
  • #559,520
  • Nov 18, 2020 7:48am Nov 18, 2020 7:48am
Quoting OnlineAddict
{quote} No, I am not...I get in and out "quickly", mostly in for 30-50 pips at a time, BUT I trade in the direction I think its going towards, not against it. I am all for scalping, just not in both directions, unless we are stuck in a range. If GU dropped 1000 pips from here, I wouldn't leave a trade open that long...I would try to make 2000-3000 pips on the move down, but buying the spikes and getting out during each drop.

Same same then, usually i trade in the direction i think it is going buying the dips going up selling the rallies going down, so i do not see a problem with being long on the higher tfs.

Can you point towards where the direction is down for your big short bias

Maybe i misunderstood, " the direction its going towards"? do mean towards a s/r area?
Follow The Markets Structure - Patience and Discipline
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