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Cable Update (GBPUSD)

  • #562,701
  • Dec 1, 2020 3:48pm Dec 1, 2020 3:48pm
Quoting Roszey
strong daily Engulfing pattern.. more bulls coming... {image}
it is not engulfing, the low needs to be lower than the engulfed candles
If you are new to Forex? Say Goodbye to your account!!
  • #562,702
  • Edited 4:02pm Dec 1, 2020 3:51pm | Edited 4:02pm
[quote=nessus94;13291568]
Quoting Catempire
{quote} I have been right so far and all of you shorting will lose brexit is a good excuse to make you short and you are jumping with both feet lol thats why forex factory = retailer = dumb money
Dumb money is someone who has no idea what they are doing and knows sweet FA about economics or why currencies hold valuations.

that’s dumb money, that’s money that’s right & then when it’s wrong it’s VERY wrong.

you remind me of delta one on the dax thread in feb ... I spent 3 weeks saying this will drop this will drop it went up & oh boy when it dropped.

i think it worked out he lost 7m € + ... his bias was so strong based on such little.

much like yours

“the big money is buying”

is that it ?
Que Sera
  • #562,703
  • Dec 1, 2020 3:57pm Dec 1, 2020 3:57pm
Us “Bears” have ALL been saying this can rise... but you are completely overlooking the biggest fundamental for the pound in many years based entirely on almost nothing but your bias.

largely I believe because you are more worried about being right (on here) than doing the right thing.

No one with large money will be buying the pound going into 2021

FACT.
Que Sera
  • #562,704
  • Dec 1, 2020 4:02pm Dec 1, 2020 4:02pm
Quoting Catempire
Us “Bears” have ALL been saying this can rise... but you are completely overlooking the biggest fundamental for the pound in many years based entirely on almost nothing but your bias. largely I believe because you are more worried about being right (on here) than doing the right thing. No one with large money will be buying the pound going into 2021 FACT.
Lol seriously ?

you are very short but it can rise?
then iam very long but it can fall

and someday You will be right , i will be wrong
and the other way too

i dont care about here
iam long and i wont change my mind because the Bears who are Losing money Want me to be on their side
Make money by doing the opposite of Giveachance aka loser
  • #562,705
  • Dec 1, 2020 4:08pm Dec 1, 2020 4:08pm
Quoting nessus94
{quote} Lol seriously ? you are very short but it can rise? then iam very long but it can fall and someday You will be right , i will be wrong and the other way too i dont care about here iam long and i wont change my mind because the Bears who are Losing money Want me to be on their side
I couldn’t give a hoot about where your money is dude, you can put it back in the bank for all I care.

ny point IS

You are screaming “this won’t rise into next year” “this won’t rise... maybe it’ll rise NEXT year”

based on absolutely f**k all.

there are traders here who are long, they are clearly
good at reading technicals.

I don’t think you would see any “good” trader, trading technicals, make such a statement going into this political headwind.

based on, again, absolutely fuck all.

its 1 month away.

most traders who only use techs would not predict the end of the month on the 1st...

add in brexit...

Hence your bias will cost you dearly, because you cannot predict the end of this month today with fuck all knowledge of the economic consequences ONLY using techs, and to your own admission, you trade techs.

yet you are ??

hence your bias seems based entirely on wanting to be right.

you can’t predict that far ahead without fundamentals.
Que Sera
  • #562,706
  • Dec 1, 2020 4:10pm Dec 1, 2020 4:10pm
Quoting Moty
Easy money 113 pips gj {image}
my dear can you suggest me that where cable go up or down in short period?
  • #562,707
  • Dec 1, 2020 4:10pm Dec 1, 2020 4:10pm
Quoting nessus94
{quote} They were selling on the way up its different now they are buying dips if by any miracles you see 1,30 or 1,29 you need to bet your house
Just for me to understand, why it's different?

I have a lot of respect for your knowledge and chart reading skills, and your arguments make me more cautious. But I can't overlook fundamentals of Brexit, so my bias is still short.
  • #562,708
  • Dec 1, 2020 4:22pm Dec 1, 2020 4:22pm
Quoting nessus94
{quote} You expect a 70 pips drop in euro with all sessions closed ? We have seen everything lol never never ever it will happen bo is confirmed
were you born in a condom, Im just suggesting virtually "all" genuine breakouts retest, I didnt give any timeframe, dont see anything funny, nothing is confirmed until bo is retested, I seen pops repeat pops, like these reverse heavily, back to retest then keep on trucking, my comments generally are pre pa moves perhaps you could do the same, retrospective comments are as much use as used condoms turned inside out
If you are new to Forex? Say Goodbye to your account!!
  • #562,709
  • Dec 1, 2020 4:25pm Dec 1, 2020 4:25pm
Quoting nessus94
{quote} Lol seriously ? you are very short but it can rise? then iam very long but it can fall and someday You will be right , i will be wrong and the other way too i dont care about here iam long and i wont change my mind because the Bears who are Losing money Want me to be on their side
With all due respect. I'm short and happy with my position. But I'm playing a very different game to you...
A fool and his money are easily parted
  • #562,710
  • Dec 1, 2020 4:30pm Dec 1, 2020 4:30pm
Quoting KiwiTrada
{quote} were you born in a condom, Im just suggesting virtually "all" genuine breakouts retest, I didnt give any timeframe, dont see anything funny, nothing is confirmed until bo is retested, I seen pops repeat pops, like these reverse heavily, back to retest then keep on trucking, my comments generally are pre pa moves perhaps you could do the same, retrospective comments are as much use as used condoms turned inside out
”were you born in a condom”

Que Sera
  • #562,711
  • Dec 1, 2020 4:45pm Dec 1, 2020 4:45pm
It seems that the 2 big known fundie themes affecting the markets going into the end of year and extending into the new year are;

1. Brexit. firstly - deal or no deal and then secondly - the actual details of the deal and it's likely effects.

2. Covid and the ongoing economic effects

and, two fundie themes that could develop and affect the markets;

3. On the U.s side - likelihood of a potentially $2.2tr covid support/economic impetus deal (if the dems can get hold of the senate re georgia run-offs.)

4. Iran - will they fall into Tump's/Netanyahu's trap and respond, and if they do what will Trump's response be, and then theirs etc....

How all these will actually play out we don't know. Yes, we know the perceived wisdom of the most likely effects of each outcome related to each theme, but we don't know the timings and the cross relationships of 2 or more themes at play at once, which is why for all the confidence expressed here and other places, we should remain open minded...be bullish when the techs are bullish and be prepared to change when they are bearish - relative to the t/f's of interest to us. Don't hang your ego on one or the other. It's not about being right or wrong per say. It's about how much you make when you are right, and how much you lose when you are wrong, and about being right at the right time. Truisms aside, stay flexible and open minded, and, for the sake of one more platitude, trade what you see - not what you think - the market doesn't care what you think.
Trader with an Edge.
  • #562,712
  • Edited 5:21pm Dec 1, 2020 4:53pm | Edited 5:21pm
Quoting KiwiTrada
{quote} it is not engulfing, the low needs to be lower than the engulfed candles
Ok. Senior.

i have learned something new today about the engulfing pattern. I will not argue on that since we all have a different view of it

Thanks btw.
Le$$ I$ More
  • #562,713
  • Dec 1, 2020 4:54pm Dec 1, 2020 4:54pm
Quoting epzero
{quote} 500pips buy isn't that bad for a month
well, I guess you are right on that.
Le$$ I$ More
  • #562,714
  • Dec 1, 2020 5:01pm Dec 1, 2020 5:01pm
Quoting Catempire
{quote} ”were you born in a condom”
nope I was thankfully a 2nd hand condom turned inside out, some people just make me crazy, "ALL" trading is range trading, using S&R penants, rising or falling chanels, psychs levels, sell top of range ie resistance buy bottom ie support, until such time there is a BO, which needs to be confirmed by retest, chart attached cable weekly, note the range expanding triangle, previous resistance proved unbreakable, 134 00 then 2 BO,s which on retest both failed topping 135 000 bottoming 1 1400ish which I see as very strong resistance aswell
amazing when traders a buying into resistance when fail disappear, if it pops get all smart arse, if retest and fails disappear if retest holds bigger smart arse, when in fact they were buying into resistance (stupid) calling people sell resistance stupid
range trading golden rule sell resist buy support
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly 2 12 2020.png Size: 54 KB
If you are new to Forex? Say Goodbye to your account!!
  • #562,715
  • Dec 1, 2020 5:05pm Dec 1, 2020 5:05pm
Quoting Roszey
{quote} Ok. Senior. i have learned something new today about the engulfing pattern. I will argue on that since we all have a different view of it Thanks btw.
not my idea is pip pip primary school https://fxssi.com/forex-candlestick-patterns
If you are new to Forex? Say Goodbye to your account!!
  • #562,716
  • Dec 1, 2020 5:27pm Dec 1, 2020 5:27pm
Quoting KiwiTrada
{quote} not my idea is pip pip primary school https://fxssi.com/forex-candlestick-patterns
According to your website
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot at Dec 01 23-22-22.png Size: 33 KB
and here is a real-time chart.
Attached Image
What is the difference?.. maybe I am too dumb to spot it out. Please so throw more light on it for me
Le$$ I$ More
  • #562,717
  • Dec 1, 2020 5:35pm Dec 1, 2020 5:35pm
Quoting Roszey
{quote} According to your website {image} and here is a real-time chart. {image}What is the difference?.. maybe I am too dumb to spot it out. Please so throw more light on it for me
I think the argument was about the shadow of the previous day. I found a source that explicitly mentions that part.

But I think it has something to do with the broker's daily close. Not everyone has the same D1 candle.
  • #562,718
  • Dec 1, 2020 5:46pm Dec 1, 2020 5:46pm
Quoting shahab8b
{quote} I think the argument was about the shadow of the previous day. I found a source that explicitly mentions that part. But I think it has something to do with the broker's daily close. Not everyone has the same D1 candle.
Yeah. i thought as much. Broker spread always makes candlestick pattern confusing.

Thanks, Senior.
Le$$ I$ More
  • #562,719
  • Dec 1, 2020 5:47pm Dec 1, 2020 5:47pm
Quoting KiwiTrada
{quote} nope I was thankfully a 2nd hand condom turned inside out, some people just make me crazy, "ALL" trading is range trading, using S&R penants, rising or falling chanels, psychs levels, sell top of range ie resistance buy bottom ie support, until such time there is a BO, which needs to be confirmed by retest, chart attached cable weekly, note the range expanding triangle, previous resistance proved unbreakable, 134 00 then 2 BO,s which on retest both failed topping 135 000 bottoming 1 1400ish which I see as very strong resistance aswell amazing...
Some good stuff here KiwiTrada,
-I had GLEANED the WEEKLY CHART, -(Below), but had thought the Daily had to play-out 1st,
With a little South, first but that proved wrong today, on my view and she went Gang Busters, NORTH.

On your pic, you can Note the 1st DRIVE NORTH, took a serious Retracement,
-(Like you mentioned), down to the 1.14 area. However, -LooK at the Second Touch,
and She Retraced only Slightly. -Known as the "Two Touch" Method, we are now set to
not only pierce this level, but burst it. -(I had only seen the daily a bit tired & appeared needing a retrace).
Attached Image (click to enlarge)
Click to Enlarge Name: 12_1_2020 Weekly Chart and Pullbacks.png Size: 54 KB

Anyway,
Just my thoughts, GooD post, yes it's easy when we're winning, and it "Pop's".
And as well Look at how after the 2nd Touch, she's NOT gone further SOUTH.
My Best Kiwi,

Jeff out P.S. LooK at the Waveset's on the Weekly here, as well the First two were full Waveset's,
Going Up against the Top. This Latest (Weekly) Wave Set, is only in 'Beginning Stage' on Wkly.
To me, -Only the 2nd IMPULSIVE wave set on the Weekly, has begun. -Again, earlier today
i had expected "Daily" to take a breather. -Nope.
I will work to Objectively Identify my Edges
  • #562,720
  • Dec 1, 2020 6:05pm Dec 1, 2020 6:05pm
Quoting Yngwie
cable want to fly high
100+ pips ooyeaah
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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