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Cable Update (GBPUSD)

  • #562,841
  • Dec 2, 2020 1:38am Dec 2, 2020 1:38am
Quoting pipfarm
Break retest continuation , it is an integral part of price action experienced technical traders are fully aware of and use to capitalize on the current move {image}
This better illustrate the BO concept .. I only hope fundis guyz are taking side notes
  • #562,842
  • Dec 2, 2020 1:41am Dec 2, 2020 1:41am
Quoting JayBag
{quote} This better illustrate the BO concept .. I only hope fundis guyz are taking side notes
That is pretty basic stuff, re test the trend / rejection = confirmation

Most fundies should have heads round that.... multiple timeframes and 50 indicators all running at once perhaps not quite as much.
Que Sera
  • #562,843
  • Dec 2, 2020 1:42am Dec 2, 2020 1:42am
Quoting JayBag
{quote} This better illustrate the BO concept .. I only hope fundis guyz are taking side notes

Wasting our time my friend, they will jump on every dip proclaiming the 1000 pip drop is here or its a reversal or some such nonsense , of course price will eventually reverse and they will proclaim they were correct but by that time you, me and the other good traders here will have banked hundreds of pips on the way up and could not give a xxxx
Follow The Markets Structure - Patience and Discipline
  • #562,844
  • Dec 2, 2020 1:44am Dec 2, 2020 1:44am
Quoting babayaga
{quote} I am totally speechless... ...but I was expected today up for oil and down for gold ) , and I do like this: 1777.77
brother, yesterday i was holding same bias a yours.
then when it took my SW zone on 1809 to easy and didnt drop it at least 10$ i realized that this is want higher.
1816 was 50EMA on 4h, so for the night birds get easy short, when it came back from 1807 to 1810 again so quick.. something like 10 min.
this was the big alert that price want 1820+
  • #562,845
  • Dec 2, 2020 1:45am Dec 2, 2020 1:45am
Quoting pipfarm
{quote} Wasting our time my friend, they will jump on every dip proclaiming the 1000 pip drop is here or its a reversal or some such nonsense , of course price will eventually reverse and they will proclaim they were correct but by that time you, me and the other good traders here will have banked hundreds of pips on the way up and could not give a xxxx
lol

I'll stick to the day job.. sounds like you make an absolute fortune so you stick to yours

I'm not here for watching coloured bars on a screen day in day out for the rest of my days... here purely for a big move & then i'll be gone.
Que Sera
  • #562,846
  • Dec 2, 2020 1:48am Dec 2, 2020 1:48am
Quoting pipfarm
Break retest continuation , it is an integral part of price action experienced technical traders are fully aware of and use to capitalize on the current move {image}
You always showed me that a chart, a simple chart, no sexy chart full of 3dimensinal indicators, can speak louder than 1000 words!!!
I call upon my father's spirit , watching over me
  • #562,847
  • Dec 2, 2020 1:49am Dec 2, 2020 1:49am
are you ready ?
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yes yes yes
  • #562,848
  • Dec 2, 2020 1:49am Dec 2, 2020 1:49am
Quoting Catempire
{quote} I guess from my perspective, living in the UK, understanding what these politicians are like et al I believe the chances of a no deal are far higher probability than many believe, that is made and decided off nothing more than my own understanding of the situation. I do not trust the media, or other brokers... everyone has an agenda depending on what you are reading & social media is similarly a tunnel vision of our own pre existing bias. I think there is a hgih probability that the UK are asking for more than the EU can deliver without...
Ok fair, I still would't try to catch tops but again it's me and since your bias about the deal is so negative you're trading accordingly. I hope for the deal, and not for my longs, and I think you hope the same despite your shorts
  • #562,849
  • Dec 2, 2020 1:49am Dec 2, 2020 1:49am
Quoting Ehsank78
{quote} will Gold fall that is the question
Yeah we'll see about that. Still holding my pending shorts.
  • #562,850
  • Dec 2, 2020 1:51am Dec 2, 2020 1:51am
Quoting JayBag
{quote} This better illustrate the BO concept .. I only hope fundi guyz are taking side notes
The break-pullback/retest-continuation generally works until the last time when it doesn't - ie until a trend change / consolidation/rangy conditions.
------------------------------------

1hr is below.
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Trader with an Edge.
  • #562,851
  • Dec 2, 2020 1:53am Dec 2, 2020 1:53am
Quoting L.m
{quote} Ok fair, I still would't try to catch tops but again it's me and since your bias about the deal is so negative you're trading accordingly. I hope for the deal, and not for my longs, and I think you hope the same despite your shorts
L.M to be honest mate I think we will / would end up re joining the EU on a no deal. eventually.

In life the hardest lessons often turn out ot be the best things for us and for this reason I am not bothered either way... people voted for this to happen and it would shine even worse a light on these mp's which i don't see as a bad thing.
Que Sera
  • #562,852
  • Dec 2, 2020 1:59am Dec 2, 2020 1:59am
Quoting SFundamental
In the credit world things seem to be ok with the UK- right now Although Barnier talking tomorrow he seems to be under pressure by member states to get a deal- think he will sound hopeful but concerned re-fish/field rhetoric Would like to see a rally into the previous swing high into the Frankfurt open Banks starting to get itchy feet
Nice rally into previous swing high during Frankfurt and sold it
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Look ahead, Macro=Direction, Levels & Structure = Entry
  • #562,853
  • Dec 2, 2020 2:00am Dec 2, 2020 2:00am
Quoting Headland
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...

The british high street is falling apart y/day arcadia & debenhams, and now bonmarche (for the 2nd time in a year) enters administration.
----------------------
On a different note I posted the above last evening (gmt) and I wonder whether Scotland's insistence on another independence referendum next year might also develop into a fundie theme ? Might they do a Catalonia ? or declare UDI a la Ian Smith and the old Rhodesia (ooooooooooooooooh Zimbabwe as is now.)
----------------------

That's a 1hr candle close !
Trader with an Edge.
  • #562,854
  • Dec 2, 2020 2:01am Dec 2, 2020 2:01am
Quoting pipfarm
Break retest continuation , it is an integral part of price action experienced technical traders are fully aware of and use to capitalize on the current move {image}
Transient Zones Yes/No?

Sorry Recurrent Maybe
You can do it!
  • #562,855
  • Dec 2, 2020 2:01am Dec 2, 2020 2:01am
Quoting Catempire
{quote} lol I'll stick to the day job.. sounds like you make an absolute fortune so you stick to yours I'm not here for watching coloured bars on a screen day in day out for the rest of my days... here purely for a big move & then i'll be gone.

Lol, says the person now expert on t/a who i seem to recall was preaching about a demark a trendline reversal that was a correction! you presume too much about what other people are doing.

Have a good day
Follow The Markets Structure - Patience and Discipline
  • #562,856
  • Dec 2, 2020 2:04am Dec 2, 2020 2:04am
Quoting Catempire
{quote} I guess from my perspective, living in the UK, understanding what these politicians are like et al I believe the chances of a no deal are far higher probability than many believe, that is made and decided off nothing more than my own understanding of the situation. I do not trust the media, or other brokers... everyone has an agenda depending on what you are reading & social media is similarly a tunnel vision of our own pre existing bias. I think there is a hgih probability that the UK are asking for more than the EU can deliver without...
The market always makes the same mistake. It thinks that politics is mainly about economy, or livelihood, or well-being of people, and therefore politicians will make decisions that are good for the country's economy. But politics is not about these nice things, and never was, throughout human's history. It was, is, and will probably always be predominantly about one thing -- power. So for UK government, the question is NOT how much disruption we will see, but whether they can (minimum target) stay in power and (maximum target) consolidate and increase their power as the result of Brexit. If no deal is better for these purposes, then no deal it would be.
  • #562,857
  • Dec 2, 2020 2:04am Dec 2, 2020 2:04am
Quoting pipfarm
{quote} Lol, says the person now expert on t/a who i seem to recall was preaching about a demark a trendline reversal that was a correction! you presume too much about what other people are doing. Have a good day
I've made it clear as day I am not an expert in technical analysis and said as much here many times over..

However re testing of trends, gaps, MA's & trend lines are basic A F even the most common of investor on the stock market who understands little charting has got their head around this stuff.

Thats all.

I have no interest in watching bars all day for a job, in-fact aside from the fundamentals and psychology i find it incredibly boring & dull.
Que Sera
  • #562,858
  • Dec 2, 2020 2:06am Dec 2, 2020 2:06am
Quoting JayBag
{quote} Only a TA trader would understand this concept because it's a normal occurrence for BO's. Only a matter of time, bears will leave the thread for bulls again SS
thats silly ,bulls cant buy if there are no sellers, its a zero sum game
If you are new to Forex? Say Goodbye to your account!!
  • #562,859
  • Dec 2, 2020 2:07am Dec 2, 2020 2:07am
Quoting Moty
{quote} here {file}
Thanks
You can do it!
  • #562,860
  • Dec 2, 2020 2:07am Dec 2, 2020 2:07am
Quoting VM.
{quote} The market always makes the same mistake. It thinks that politics is mainly about economy, or livelihood, or well-being of people, and therefore politicians will make decisions that are good for the country's economy. But politics is not about these nice things, and never was, throughout human's history. It was, is, and will probably always be predominantly about one thing -- power. So for UK government, the question is NOT how much disruption we will see, but whether they can (minimum target) stay in power and (maximum target) consolidate...
Agree with you VM.
Que Sera
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