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Cable Update (GBPUSD)

  • #559,641
  • Nov 18, 2020 11:57am Nov 18, 2020 11:57am
...confirmed fractal swing hi on 1hr now at that pot res zone to 3314, 3312 the current dly hi making a double top now on 1hr...easy enough sell from there wasn't it ?with the bearish regular osc div on 1min-3min, 30min, & 1hr and extreme osc reads 5 and 15min @ that pot res..nice ! Price still only @ 59% of 30 day adr so far today. 20/50/100 ema crosses currently as below. 1hr, 4hr, dly, and wkly general fractal uptrends remain intact and likely will be a 4th consecutive bullish bodied daily candle ?

Longer term bears will be hoping a 4hr+ double top develops too.
Attached Image
Trader with an Edge.
  • #559,642
  • Nov 18, 2020 11:58am Nov 18, 2020 11:58am
Quoting Maximumheigh
1hr inverted hammer and inside bar at a strong resistance point. Looking bearish, I want the bears now!!!!
Strong 4hr hammer about to form at a strong resistance area. Another bearish sign. The bears will come. let see what tomorrow brings.
  • #559,643
  • Nov 18, 2020 12:08pm Nov 18, 2020 12:08pm
Status Update:
So the Bears had their Lunchtime,
-And then some...
A-B-C is Done for that unless it turns into more, South.

The Bulls "TRIED" to 'SNEAK Over the RIVER',
But the Bears had a 2nd HELPING for LUNCHTIME!

But Now the Cloud of Support, has held for the Bull's on the 15min chart.
That Wave-Set, pulled a Retracement of a 61.8
It could do a couple things... _ Go UP then Deeper, as Per Georginson's wager.
Or, Continue NORTHWARD, Blowing High's up into the High 133's, -and higher.

GJ, "Appears to be pulling G.U." up 'tad, at this point.
And, if "BOTH" get Leg's on the "Daily Chart", Watch out Bears.

The Fight on the River Bank, -where Bears won & ate lunch:
Attached Image (click to enlarge)
Click to Enlarge Name: 11_18_2020 BULLS CROSSOVER POINT of CLOUD FAILS_and_BEARS EAT THEM For LUNCH.png Size: 44 KB
The initial, "SNEAK ATTEMPT" @the "SKINNY Part", of the River to Cross...
Then the Bears turned it into "Lunch".
Attached Image (click to enlarge)
Click to Enlarge Name: 11_18_2020 CROSSOVER POINT of CLOUD for BULLS.png Size: 48 KB

Happy Wednesday Folk's,
Have some Fun of things, eh?
I will work to Objectively Identify my Edges
  • #559,644
  • Nov 18, 2020 12:08pm Nov 18, 2020 12:08pm
Attached Image (click to enlarge)
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close up
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yes yes yes
  • #559,645
  • Nov 18, 2020 12:09pm Nov 18, 2020 12:09pm
10 min USD FOMC Member Bullard Speaks
I will tear the world apart for you.
  • #559,646
  • Nov 18, 2020 12:19pm Nov 18, 2020 12:19pm
He's gonna say the World & the U.S., Especially,
NEED's MORE STIMULUS and is going to "Hell in a Hand Basket", -w/all these "Death's in the U.S.",

Then you'll have to put on that Top Gun Music again, Barnell,
and i'll have drag my "Top Bunk" P-3 Orion Flight Suit out of the Closet,
Do a little Dance, -"If" she break's 1.3310 & hit's the High 1.33's

P.S. Fifth Wave is Done on Wave-C, of the Retracement... Here's where she either,
Climbs & Dump's if she can't cross the 'River' of Resistance on the 1, 5 min's,
Or Blast's higher. It's Late in the Day & only NY Man's the Deal Desk's. (Supposedly).
I will work to Objectively Identify my Edges
  • #559,647
  • Nov 18, 2020 12:54pm Nov 18, 2020 12:54pm
Quoting miedpreneur
short again 1.3304.. tp open sl-20
im exit this short @1.3280.. weak volume.. i dont wanna trap on uncertain market..
looking for dip to enter long or another top to short again..

and bull still intact
Trade what you see, not what you think.. react and stay sharp..
  • #559,648
  • Nov 18, 2020 12:59pm Nov 18, 2020 12:59pm
Quoting Moty
{image}close up{image}
do you think it is neccessarry to make one more push up above current high ?
  • #559,649
  • Nov 18, 2020 1:29pm Nov 18, 2020 1:29pm
Quoting shahab8b
GU, posted initially here https://www.forexfactory.com/thread/...3#post13258543 I'll be watching 1.33 for short setup {image} {image}
GU
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  • #559,650
  • Nov 18, 2020 1:35pm Nov 18, 2020 1:35pm
Quoting Mcbeaners
on 15 min i see just buy buy buying. so hold it long and strong.
buying dried up @ 17.15 hrs gmt. so with the uk boys loaded up, it will drift where ever until probably uk pre-market is my wild guess.
In tea leaves we trust!
  • #559,651
  • Nov 18, 2020 2:46pm Nov 18, 2020 2:46pm
Quoting Maximumheigh
{quote} Strong 4hr hammer about to form at a strong resistance area. Another bearish sign. The bears will come. let see what tomorrow brings.
Has the bear taken over the market. About 40pips down from high.
  • #559,652
  • Nov 18, 2020 3:05pm Nov 18, 2020 3:05pm
Quoting OnlineAddict
Looking at the USD chart, I just stopped by to give GU bulls my condolences. Enjoy the last bull spikes. See you in december...
USD bull has started. Now full bulls for months to come...probably until april-may. Many accounts will be burned in the next 6 months, counter trading the new trend.
Everyone can see the chart, but only a few can actually read it.
  • #559,653
  • Nov 18, 2020 3:42pm Nov 18, 2020 3:42pm
Quoting Mcbeaners
{quote} buying dried up @ 17.15 hrs gmt. so with the uk boys loaded up, it will drift where ever until probably uk pre-market is my wild guess.
With today's ATR of 69 trading there were basically no good trading opportunities.
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  • #559,654
  • Nov 18, 2020 3:55pm Nov 18, 2020 3:55pm
  •  Rgkc
  • | Joined Dec 2010 | Status: Never stop learning about forex! | 419 Posts
Quoting OnlineAddict
{quote} USD bull has started. Now full bulls for months to come...probably until april-may. Many accounts will be burned in the next 6 months, counter trading the new trend.
Maybe yes maybe no.
The uncertainty of the times we live in does not guarantee us anything.
The covid and the trump is not yet resolved :/
Studing..............
  • #559,655
  • Nov 18, 2020 3:58pm Nov 18, 2020 3:58pm
Quoting shahab8b
{quote} GU {image}
Hi Shahab,
one question about your TP if I may. The way I see things, until NY session today we had a strong bullish trend, and we reached key technical levels across many pairs. If today signifies trend reversal, then we should head much lower than 1.32; on the other hand, if trend is intact, and today's selling is just a blip, I am not sure we can get to 1.32 before 1.3305: 1.324-1.327 zone looks strong. Just wanted to understand your thinking here. (I have a very similar trade myself and very unsure how I should play it.)
  • #559,656
  • Nov 18, 2020 4:00pm Nov 18, 2020 4:00pm
Quoting Rgkc
{quote} Maybe yes maybe no. The uncertainty of the times we live in does not guarantee us anything. The covid and the trump is not yet resolved :/
There is no uncertainty on the market...there is always something that will mess up things, its part of trading, part of life, I have seen a shitload of things in the past 10-11 years, whats happening today is nothing, piece of cake compared to the volatility in the past. Anyone who remembers Bernanke's FED meetings will know...then brexit, SNB disaster, there will always be something, it creates volatility! When covid is over, something new will come up, as it always does.
Everyone can see the chart, but only a few can actually read it.
  • #559,657
  • Nov 18, 2020 4:06pm Nov 18, 2020 4:06pm
  •  Rgkc
  • | Joined Dec 2010 | Status: Never stop learning about forex! | 419 Posts
Quoting OnlineAddict
{quote} There is no uncertainty on the market...there is always something that will mess up things, its part of trading, part of life, I have seen a shitload of things in the past 10-11 years, whats happening today is nothing, piece of cake compared to the volatility in the past. Anyone who remembers Bernanke's FED meetings will know...then brexit, SNB disaster, there will always be something, it creates volatility! When covid is over, something new will come up, as it always does.
It is true, this is nothing, compared to what happened between 2008 and 2011.
However, caution should be exercised
Studing..............
  • #559,658
  • Nov 18, 2020 4:06pm Nov 18, 2020 4:06pm
Quoting Rgkc
{quote} It is true, this is nothing, compared to what happened between 2008 and 2011. However, caution should be exercised
That always, of course.
Everyone can see the chart, but only a few can actually read it.
  • #559,659
  • Nov 18, 2020 4:16pm Nov 18, 2020 4:16pm
Quoting Hutch
{quote} With today's ATR of 69 trading there were basically no good trading opportunities. {image}
from who perspective? uk boyz or from a retail perspective?
In tea leaves we trust!
  • #559,660
  • Nov 18, 2020 4:21pm Nov 18, 2020 4:21pm
Quoting VM.
{quote} Hi Shahab, one question about your TP if I may. The way I see things, until NY session today we had a strong bullish trend, and we reached key technical levels across many pairs. If today signifies trend reversal, then we should head much lower than 1.32; on the other hand, if trend is intact, and today's selling is just a blip, I am not sure we can get to 1.32 before 1.3305: 1.324-1.327 zone looks strong. Just wanted to understand your thinking here. (I have a very similar trade myself and very unsure how I should play it.)
Well, I don't see any sign of reversal yet. It looks like a correction atm. But that can change if we get a close below 1.3240 and break those TLs. That will open up 1.31 again. I am flexible with my tp. for now I'm thinking 1.311 (I've changed it from 1.32). I think it's wise to do partial tp with 40-50 pips and let the rest run with sl at b/e and then adjust accordingly.
Attached Image (click to enlarge)
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