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Cable Update (GBPUSD)

  • #563,081
  • Dec 2, 2020 8:12pm Dec 2, 2020 8:12pm
As navk bro says gu is down first about 1.3350 then some up
  • #563,082
  • Dec 2, 2020 8:14pm Dec 2, 2020 8:14pm
sold more @ 33850 ish

no Moty - wrong way!!!
In tea leaves we trust!
  • #563,083
  • Dec 2, 2020 8:20pm Dec 2, 2020 8:20pm
Potential Head and Shoulders short .

I have a sell Limit at 1.3400
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You can do it!
  • #563,084
  • Dec 2, 2020 8:44pm Dec 2, 2020 8:44pm
GBP/USD extends recovery towards 1.3400 amid Brexit drama (fxstreet.com)

Looks like it might touch 1.34 again by the time of London opening. After that we need to see where it goes.
  • #563,085
  • Dec 2, 2020 8:59pm Dec 2, 2020 8:59pm
I'll short from the boxed area later if it climbs back there.
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Set GOAL, REACH and REPEAT.
  • #563,086
  • Dec 2, 2020 9:11pm Dec 2, 2020 9:11pm
G/M, ... early start for me as have to run some errands later. 154 pip drop y/day hi-lo and the recovery came as price encountered demand at the prev 1hr/4hr/dly sw lo zone = prev supp = pot (potential) supp down to 3284....confluence with 2 x fibs, namely 61.8% 3195-3442 and 88.6% 3263-3442. Recovery has extended beyond the 61.8% fib of the fall, 76.4% is @ 3405. Let's see what today brings re the usual drip drip malarky (lovin'it though,) of brexit deal negotiations rumours/reports...must be getting close to some kind of official announcement of progress or not now ? 1hr below.
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Trader with an Edge.
  • #563,087
  • Dec 2, 2020 9:14pm Dec 2, 2020 9:14pm
Going long now for 100 pips ✌.
1:1
Patience.....
  • #563,088
  • Edited 9:33pm Dec 2, 2020 9:17pm | Edited 9:33pm
...current state of the 20/50/100 ema crosses as below.

Quoting Fredo219
Going long now for 100 pips ✌. 1:1
Hi, 100 pips from here would take us just beyond that 3482 previous swing h from 1st september last, could well be strong resistance leading to it and even above it there is another to 3514. I'm not saying it won't get there, - I have as much idea as anyone, which is to say - none at all lol! Good luck with the trade. Wkly below.
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Trader with an Edge.
  • #563,089
  • Dec 2, 2020 9:33pm Dec 2, 2020 9:33pm
as always on GU there is calm before storm.. which way london lead us.. soon
Trade what you see, not what you think.. react and stay sharp..
  • #563,090
  • Dec 2, 2020 9:38pm Dec 2, 2020 9:38pm
I am short frim 1.3384
  • #563,091
  • Dec 2, 2020 9:39pm Dec 2, 2020 9:39pm
Quoting Coreg2004
{quote} Georginson, on this lot you scored 80 pips in 8 trading days, quite an achievement... congratulation, swing trading pays off well...I couldn't restrain myself.
Thanks mate. Looking forward to going short again at 1.34 area if or when it gets there.
Data + Stat + Risk/Emotions Management
  • #563,092
  • Edited 9:51pm Dec 2, 2020 9:41pm | Edited 9:51pm
... could be an H&S on 1hr here ? and 1hr bearish hidden divergence building on that t/f on my oscillators/settings. No pot sbr (supp becomes res) that I can see here though - doesn't mean to say there is none though.

May as well post the dly chart below for good measure. The desc t/line joins 4376 with 3442 as that later swing hi is fractal now on this t/f. New provisional asc t/line drawn as it doesn't join a 2nd fractal swing yet at y/day's lo but if it does firm up as such it still creates a rising wedge type pattern.

Price did briefly breech that multi year desc t/line joining 2.1162-7188-3482 to the upside but remains below it again at the moment. There is a shallower desc t/line that joins 3482 with 3442.
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Trader with an Edge.
  • #563,093
  • Edited 10:09pm Dec 2, 2020 9:56pm | Edited 10:09pm
Ready to trade ?

- I know what the fractal conditions are on t/f's of interest (ie ranging or trending) and their relationship to each other.
- I know where the potential supp/res/sbr/rbs is on the t/f's of interest (and where the most 'confluence of primary, secondary and tertiary potential supp/res factors exist,) and know what type of repeating set-ups I will be looking for to time a potential swing trade if they develop at such an area.
- Re point above, I know what level of risk I will use if such a set-up (s) develop across my t/f's of interest.
- I know what the current fundie themes at play are.
- I know what known event risks (data releases etc) are coming up.
- I know my 3 trading session objectives/goals.

* I know my edge and the stats of it's past performance to this date.

I know what I know, and I know what I don't know - the main thing being where future price discovery will take us, and I am entirely comfortable with that, because I don't have to know. I just have to play my edge objectively per it's rules, and there is a high probability that I will realise some pip gain consistent with my trading session objectives/goals. If I don't realise pip gain then there is an absolute certainty (barring slippage which is out of my control,) that I know what my max loss will be for the trading session. I am as prepared as I can be for the trading session ahead.
Trader with an Edge.
  • #563,094
  • Dec 2, 2020 10:09pm Dec 2, 2020 10:09pm
Quoting goldfish3
{quote} Well see i guess. {image}
Well that went well. Closed just now
  • #563,095
  • Dec 2, 2020 10:10pm Dec 2, 2020 10:10pm
Quoting goldfish3
{quote} Well that went well. Closed just now
Still long bias. No downward momentum i see
  • #563,096
  • Dec 2, 2020 10:12pm Dec 2, 2020 10:12pm
Quoting Headland
Ready to trade ? - I know what the fractal conditions are on t/f's of interest (ie ranging or trending) and their relationship to each other. - I know where the potential supp/res/sbr/rbs is on the t/f's of interest (and where the most 'confluence of primary, secondary and tertiary potential supp/res factors exist,) and know what type of repeating set-ups I will be looking for to time a potential swing trade if they develop at such an area. - Re point above, I know what level of risk I will use if such a set-up (s) develop across my t/f's of interest....
I am still seeing a move to the upside when London session opens then a huge sell off just like yesterday and just like Gu have been doing at the 1.33 level
  • #563,097
  • Dec 2, 2020 10:16pm Dec 2, 2020 10:16pm
Quoting Roshan23
{quote} I am still seeing a move to the upside when London session opens then a huge sell off just like yesterday and just like Gu have been doing at the 1.33 level
You could be right, I have no idea. But, you have developed a pre-conceived idea that will sit in your sub conscious and could interfere with your brain's response and actions to what will actually occur if it runs contrary to your idea. This is why it is best just to let price discovery take place and be comfortable with the notion and reality that really none of us know what will happen, and it can be counter-productive to imagine what will.
Trader with an Edge.
  • #563,098
  • Dec 2, 2020 10:19pm Dec 2, 2020 10:19pm
Quoting Headland
{quote} You could be right, I have no idea. But, you have developed a pre-conceived idea that will sit in your sub conscious and could interfere with your brain's response and actions to what will actually occur if it runs contrary to your idea. This is why it is best just to let price discovery take place and be comfortable with the ireality that really none of us know what will happen, and it can be counter-productive to imagine what will.
Yeap no brexit deal could dampen GBP. It looks like a no brexit deal to me but u never know
  • #563,099
  • Dec 2, 2020 10:21pm Dec 2, 2020 10:21pm
Keep shorting
it is good for me
Make money by doing the opposite of Giveachance aka loser
  • #563,100
  • Dec 2, 2020 10:34pm Dec 2, 2020 10:34pm
Sl At 1.33831 be
gold is planning another move up
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yes yes yes
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