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Cable Update (GBPUSD)

  • #562,861
  • Dec 2, 2020 4:10am Dec 2, 2020 4:10am
Quoting Headland
{quote} 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. {image}

Not necessarily so , if a trader is able to anticipate the first move up then they can take profits to cover the pullback/retest and when the pullback..retest occurs its not simply a case of going long again, there must be other confirmation factors/techniques used in conjunction with the re-entry long but nothing is ever perfect or 100% guaranteed.
Follow The Markets Structure - Patience and Discipline
  • #562,862
  • Dec 2, 2020 4:15am Dec 2, 2020 4:15am
Quoting KiwiTrada
{quote} thats silly ,bulls cant buy if there are no sellers, its a zero sum game
are you sure it is a zero sum game. i used to think that way few years ago. but now i think it is different.

can you explain it more?
  • #562,863
  • Dec 2, 2020 4:15am Dec 2, 2020 4:15am
in my knowledge 90% of the its mostly algos trading. They work on just a set of simple inputs which are all TA based.
  • #562,864
  • Dec 2, 2020 4:17am Dec 2, 2020 4:17am
Quoting KiwiTrada
{quote} thats silly ,bulls cant buy if there are no sellers, its a zero sum game

Call your broker and ask them who their main liquidity providers are?
Follow The Markets Structure - Patience and Discipline
  • #562,865
  • Dec 2, 2020 4:17am Dec 2, 2020 4:17am
Quoting Headland
{quote} 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. {image}
I agree we do get to that level where it doesn’t work anymore.. However, I have my BO structure which I may not post due to some reasons.

That structure only started the BO yesterday. I usually get at least 3-4 BO before it starts to fails/retrace. The retest zone for this fresh BO is 1.3366. If today close above the said level, it’s validated.

My BO structure is coming from Daily TF and not H1.
Let’s give it time
  • #562,866
  • Dec 2, 2020 4:18am Dec 2, 2020 4:18am
Quoting Catempire
{quote} 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.
What fundamentals make gbp/usd to go up from 20.03.2020 till today?
  • #562,867
  • Dec 2, 2020 4:20am Dec 2, 2020 4:20am
Quoting Tim_isoara
{quote} What fundamentals make gbp/usd to go up from 20.03.2020 till today?
to get a better price for the ultimate drop.

chicken or egg situation
  • #562,868
  • Dec 2, 2020 4:20am Dec 2, 2020 4:20am
Quoting Catempire
{quote} 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.
Well, if you understood the break and retest basics, then you’d know why the down move was necessary.. Unless you know what we don’t..
  • #562,869
  • Dec 2, 2020 4:22am Dec 2, 2020 4:22am
Quoting KiwiTrada
{quote} thats silly ,bulls cant buy if there are no sellers, its a zero sum game
Uhm, my brain is failing to comprehend atm. I should stop drinking for sure

bulls can’t buy without sellers? I am not even trying
  • #562,870
  • Dec 2, 2020 4:23am Dec 2, 2020 4:23am
It started snowing here this morning, a friend of mine just sent me this
Attached Image
  • #562,871
  • Dec 2, 2020 4:23am Dec 2, 2020 4:23am
Gold flying
  • #562,872
  • Dec 2, 2020 4:25am Dec 2, 2020 4:25am
Quoting L.m
It started snowing here this morning, a friend of mine just sent me this {image}
Did you follow his advise?
  • #562,873
  • Dec 2, 2020 4:27am Dec 2, 2020 4:27am
Quoting VM.
{quote} Did you follow his advise?
was about to do it
  • #562,874
  • Dec 2, 2020 4:32am Dec 2, 2020 4:32am
Quoting L.m
{quote} was about to do it
I suppose the advice would be to keep the drive way clear and close the windows?
  • #562,875
  • Dec 2, 2020 4:35am Dec 2, 2020 4:35am
Quoting Headland
{quote} 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 !

Did anyone buy that 1hr inverted hammer called earlier? with the bullish hidden div ...1hr below...it was worth a scalp (+)
Attached Image (click to enlarge)
Click to Enlarge Name: 63184dc510149d181f36a306be1c0534.png Size: 44 KB
Trader with an Edge.
  • #562,876
  • Dec 2, 2020 4:36am Dec 2, 2020 4:36am
Quoting Catempire
{quote} 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.

Really , you trivialise a skill that some of us have taken many years to learn and put into practise successfully, if it were that easy then 95% of traders would not lose.

If you have no interest in t/a what are you doing here, why don't you go find a thread about fundamentals where your knowledge and experience would be better suited to discuss with like minded individuals, as all you are doing here is bickering and creating a bad atmosphere.
Follow The Markets Structure - Patience and Discipline
  • #562,877
  • Dec 2, 2020 4:47am Dec 2, 2020 4:47am
Quoting pipfarm
{quote} Really , you trivialise a skill that some of us have taken many years to learn and put into practise successfully, if it were that easy then 95% of traders would not lose. If you have no interest in t/a what are you doing here, why don't you go find a thread about fundamentals where your knowledge and experience would be better suited to discuss with like minded individuals, as all you are doing here is bickering and creating a bad atmosphere.
" all you are doing here is bickering and creating a bad atmosphere."

I would suggest you read back some of your posts before calling anyone else out for that...

Having read this page (But not posted) this was the state of play in here for some time... There are clearly some decent traders around, tho i doubt they post much, equally highly likely the ones that don't wee themselves with excitement when the price moves in their favour or completely over look the very fundamentals which drive the price.

I was not knocking your skill, (& it is clearly a skill) it is just for me personally I prefer learning about fundamentals & the psyology and how that effects the price, not bars on a screen that are delayed. I would hope you are a big enough boy not to take that to heart.

But you are right in that it is utterly pointless posting, regardless of anything else.

508 seems a way off.

P.S. Pretty sure this move has been more than a standard re test... most likely driven by.... the fundamentals.
Que Sera
  • #562,878
  • Dec 2, 2020 4:48am Dec 2, 2020 4:48am
Quoting Ehsank78
Gold flying
yes it has 4hrs very strange place, no real reason, very odd, will see how this 4hr closes, 3 and 3/4 hrs of pain, geppy and cable save me from ass wiping
If you are new to Forex? Say Goodbye to your account!!
  • #562,879
  • Dec 2, 2020 4:48am Dec 2, 2020 4:48am
Quoting JayBag
{quote} I suppose the advice would be to keep the drive way clear and close the windows?
He just don't get how one can be interested in such a job and makes fun of me an another friend of ours
  • #562,880
  • Dec 2, 2020 4:50am Dec 2, 2020 4:50am
Quoting pipfarm
{quote} If you have no interest in t/a what are you doing here, why don't you go find a thread about fundamentals where your knowledge and experience would be better suited to discuss with like minded individuals.
Pipfarm, I think this thread is great exactly because everyone brings his own perspective. I for one am happy to learn the views from both fundamental and technical standpoints.
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