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Cable Update (GBPUSD)

  • #563,261
  • Dec 3, 2020 7:25am Dec 3, 2020 7:25am
Quoting JayBag
{quote} M, I do not trade GOLD but just looked at the chart, I'd expect a crazy swing NORTH. I believe you know it better than I..

Where is the retest back to 1800
Follow The Markets Structure - Patience and Discipline
  • #563,262
  • Dec 3, 2020 7:27am Dec 3, 2020 7:27am
The market will never drop..

keep dreaming sellers who are still holding their positions for some miracle to happen.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot at Dec 03 13-24-34.png Size: 38 KB
Le$$ I$ More
  • #563,263
  • Dec 3, 2020 7:30am Dec 3, 2020 7:30am
Quoting JayBag
{quote} M, I do not trade GOLD but just looked at the chart, I'd expect a crazy swing NORTH. I believe you know it better than I..
GU and Gold are correlated but many don't know.
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  • #563,264
  • Dec 3, 2020 7:31am Dec 3, 2020 7:31am
Quoting nessus94
{quote} you have been expecting since 1,29 when its not working, go the other way don't add
I'm not that fallible to be buying at yearly top.
Data + Stat + Risk/Emotions Management
  • #563,265
  • Dec 3, 2020 7:32am Dec 3, 2020 7:32am
Quoting pipfarm
{quote} Where is the retest back to 1800
I used the big Rejection on monthly (2011) 1827
I also considered the fact that the above level has been broken this year.

If we zoom down to 1h, there's a retest of 1827. (It might run another test t that handle again) This is why I think it will spike north.
Do not trade it for now because I am heavily invested in GU and don't like indulging in too many pairs at a time.
  • #563,266
  • Dec 3, 2020 7:35am Dec 3, 2020 7:35am
Quoting JayBag
{quote} I used the big Rejection on monthly (2011) 1827 I also considered the fact that the above level has been broken this year. If we zoom down to 1h, there's a retest of 1827. (It might run another test t that handle again) This is why I think it will spike north. Do not trade it for now because I am heavily invested in GU and don't like indulging in too many pairs at a time.

That retest is only intra swing , the real retest must be a swing , look at H4, ties in with cable flat correction C down then up

Gold based with h4 low and break therefore swing retrace will occur on H4
Follow The Markets Structure - Patience and Discipline
  • #563,267
  • Dec 3, 2020 7:36am Dec 3, 2020 7:36am
Today said goodbye to 1.33 let welcome 1.35 n 136 . Haha
  • #563,268
  • Dec 3, 2020 7:36am Dec 3, 2020 7:36am
Quoting Roszey
{quote} GU and Gold are correlated but many don't know.
Looking at the chart, I have to agree.
Just that GOLD sometimes goes rouge and kcuf ish up on it's own

Crazy Instrument I must agree
  • #563,269
  • Dec 3, 2020 7:38am Dec 3, 2020 7:38am
Would be funny if we reach 1.28 before 1.35.
Happened before, you know. ))
  • #563,270
  • Dec 3, 2020 7:39am Dec 3, 2020 7:39am
Quoting JayBag
{quote} Looking at the chart, I have to agree. Just that GOLD sometimes goes rouge and kcuf ish up on it's own Crazy Instrument I must agree
yeah, indeed crazy gold. I don't trade it and never will. I only use it for reference.

But GU is targeting where the volumes are.
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  • #563,271
  • Dec 3, 2020 7:39am Dec 3, 2020 7:39am
Quoting pipfarm
{quote} That retest is only intra swing , the real retest must be a swing , look at H4, ties in with cable flat correction C down then up Gold based with h4 low therefore swing retrace will occur on H4
I also thought of that and I fully agree it has to be a swing.. However, This minor retest could stretch up to 1909 area before that swing retest.

just my thought
  • #563,272
  • Dec 3, 2020 7:42am Dec 3, 2020 7:42am
No mercy for short orders today
when you can accurately predict the future, you leave nothing to chance.
  • #563,273
  • Dec 3, 2020 7:43am Dec 3, 2020 7:43am
Quoting Roszey
{quote} yeah, indeed crazy gold. I don't trade it and never will. I only use it for reference. But GU is targeting where the volumes are. {image}
Right!

For GU, I think I support your first area of rejection because I have 1.37146 as a res to offload some of my stuff then hunt for sell or maybe not. I still anticipate the yearly candle to be a doji..

With time, we'll see how it goes.
  • #563,274
  • Dec 3, 2020 7:46am Dec 3, 2020 7:46am
Quoting JayBag
{quote} I also thought of that and I fully agree it has to be a swing.. However, This minor retest could stretch up to 1909 area before that swing retest. just my thought

If you look at the bigger picture on H4 there is a clear larger swing support @1848 that may be the target area before the retest
Follow The Markets Structure - Patience and Discipline
  • #563,275
  • Dec 3, 2020 7:46am Dec 3, 2020 7:46am
Quoting JayBag
{quote} Right! For GU, I think I support your first area of rejection because I have 1.37146 as a res to offload some of my stuff then hunt for sell or maybe not. I still anticipate the yearly candle to be a doji.. With time, we'll see how it goes.
I doubt if the Year candle can be a DOJI. The market has moved 200pips plus from the YOP

If the Daily CS closes bullish then we are seeing Bullish SW which means tomorrow will also buy. So the current Year high will be broken.

IMO
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  • #563,276
  • Dec 3, 2020 7:54am Dec 3, 2020 7:54am
Quoting JayBag
{quote} M, I do not trade GOLD but just looked at the chart, I'd expect a crazy swing NORTH. I believe you know it better than I..
his time has come , 1850 is a max top for him.
gold is bullish but in a corrective move , after breaking all time high 1920
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yes yes yes
  • #563,277
  • Dec 3, 2020 7:54am Dec 3, 2020 7:54am
price can max...drop to 3400 before 3500 and above IMO.

o/b needs to correct.
Intraday only.
  • #563,278
  • Dec 3, 2020 7:55am Dec 3, 2020 7:55am
Gold H4 Fractal structure can drop for the retest anywhere between 1850 and now

Attached Image (click to enlarge)
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Follow The Markets Structure - Patience and Discipline
  • #563,279
  • Dec 3, 2020 7:55am Dec 3, 2020 7:55am
Quoting VM.
Would be funny if we reach 1.28 before 1.35. Happened before, you know. ))
Most traders forget so soon.
Data + Stat + Risk/Emotions Management
  • #563,280
  • Dec 3, 2020 7:55am Dec 3, 2020 7:55am
Quoting Moty
{quote} his time has comw , 1850 is a max top for him. gold is bullish but i a corrective move , after breaking all time record 1920 {image} {image}
started with gold nowadays?
Intraday only.
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