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Cable Update (GBPUSD)

  • #566,421
  • Dec 17, 2020 8:28am Dec 17, 2020 8:28am
Quoting zizoo
{quote} The bear wave is coming soon. Cable would print a short daily candle tomorrow that'll probably look like a reversal pinbar to end the week. Then, everyone would target the gap

You must lend me that crystal ball of yours. To the extent in an uptrend that there is always a 'bear wave' coming - you are correct lol ! But no-one - not even you with your crystal ball knows when - We just trade what we see consistent with our respective edges. If we had £1 for every bear in here that has been predicting the end of the current 1hr-weekly general fractal uptrend we could stop trading and live off that. At some point they will be right but in trading you have to be right- at the right time to score winning trades.
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Trader with an Edge.
  • #566,422
  • Dec 17, 2020 8:29am Dec 17, 2020 8:29am
Quoting zuluremys
i ll be back if it breaks any of my lines {image}
Word UP,

Man do i Hate- No LOATHE, WEDGES...

Hate this sucker w/a passion. What a time drain... Real fun.
I will work to Objectively Identify my Edges
  • #566,423
  • Dec 17, 2020 8:30am Dec 17, 2020 8:30am
taken a long off the 15m chart looking for 1.3649 ish mar contract.
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In tea leaves we trust!
  • #566,424
  • Dec 17, 2020 8:30am Dec 17, 2020 8:30am
The news are confusing, so is the market now. I will wait for a last minute news.
  • #566,425
  • Dec 17, 2020 8:31am Dec 17, 2020 8:31am
hmm.. this take to long for bear to show .. now i see 1.3650 open to reach.. but i can go wrong.. just carefull
Trade what you see, not what you think.. react and stay sharp..
  • #566,426
  • Dec 17, 2020 8:33am Dec 17, 2020 8:33am
Quoting Hunterrus84
{quote} Still waiting for strong SM to short, market needs some time to reverse
I think you may have to extend your wait till next week (maybe) ?

Short traders already took cover.. Waiting to buy dips seems more legit (IMO)

but you know your stuff way better than I..
Ss
  • #566,427
  • Dec 17, 2020 8:36am Dec 17, 2020 8:36am
Quoting JayBag
I will always like to think that FA is nothing but FUEL.
Yes, both FA & TA are "fuel", because every trader sees the same chart, no matter if retail, bank, institutional, ...

Quoting JayBag
From my limited experience, I have seen many moves where price respected TA to the pip while there was some news release (Spikes included).. On the FA side, I have seen many times where numbers are released for lets say the $.. We all can see it's green/good for the dollar but price will still zoom to the opposite direction. I will like to believe you have experienced this before? I guess it depends on the experience be it TA or FA (Experience always makes the difference)
Yes, I've seen that too: Positive / negative impact news, but the market didn't move much or even moved in the opposite direction. It depends on the bigger picture, what the market is expecting. If you have a positive news, but the market moves in the opposite direction, this could be because the market ("SM") thinks the positive news wasn't positive enough to convince the CB not to cut rates at the next meeting. It is always about the bigger picture.

If you want to learn more about this, I can highly recommend these guys:

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  • #566,428
  • Dec 17, 2020 8:37am Dec 17, 2020 8:37am
Quoting JayBag
Alright.. Time for some humor and work Spike Lee is currently around yet again.. He does seem really pissed off and it's worse than the last time.. Let's be alert guys
Hi JayBag.

Can you please request Spike Lee to wait until I close my trade with targeted TP.

If not, I will call Moty to use his hammer on Spike Lee.

Thanks and my regards to Spike Lee....
  • #566,429
  • Dec 17, 2020 8:37am Dec 17, 2020 8:37am
Quoting miedpreneur
{quote} oh i see that's why we dont see bear come in.. spike lee still furious.. im better get prepared and serve more vodka for him..
Very furious I must say.. I think he has bigger plans this time..

And yes, more vodka would really help so he could use that fat finger..

I am currently practicing social distancing with him
  • #566,430
  • Dec 17, 2020 8:40am Dec 17, 2020 8:40am
Quoting mw108
{quote} Yes, but unless you take the fundamental reason into account, you don't know why the picture was painted while the market "priced in" ("discounted") the information. {quote} I tend to disagree. If you are subscribed to a realtime squawk and hear that UK PM Johnson says they are "walking away from Brexit negotiations and prefer a no-deal", you know the only direction GBP can go is "down". It was the same at the beginning of the week: Deadline was Sunday, they missed it, BUT they decided to keep on going "the extra mile" and...
1. In TA you don't actually have to know why - you just have to know whether the t/f's of interest to you are ranging or trending and their relationship to each other. The why in an uptrend is that there is more buying than selling volume and vice versa. (It is useful though to know the economic calendar.)

2. No, price did not have to go down, it was just the greater probability, in that circumstance.

3. No analysis is predictive it can though point to the greater probability - that is all.
Trader with an Edge.
  • #566,431
  • Dec 17, 2020 8:41am Dec 17, 2020 8:41am
Would Somebody Please kick this can of Beans over & get this 38.2,
"Over & Done With". What's the Hold up N.Y.? London? Come on,
Get it done...
I will work to Objectively Identify my Edges
  • #566,432
  • Dec 17, 2020 8:41am Dec 17, 2020 8:41am
Quoting Sang.Real
{quote} Hi JayBag. Can you please request Spike Lee to wait until I close my trade with targeted TP. If not, I will call Moty to use his hammer on Spike Lee. Thanks and my regards to Spike Lee....
haha moty will not use hammer on spike lee right now spike lee seems very determined this time.. i think moty will change his side and go along with spike lee.. but as we know moty has own plan and strategy..
Trade what you see, not what you think.. react and stay sharp..
  • #566,433
  • Dec 17, 2020 8:42am Dec 17, 2020 8:42am
Quoting babayaga
My demo.., possible scenarios?? {image}
...if we are talking about WolfeWave
my demo, last one (trade)

if no, would she return to 1.3370-th (missing pivot)?..
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dolce vita
  • #566,434
  • Dec 17, 2020 8:45am Dec 17, 2020 8:45am
Quoting mw108
{quote} Yes, both FA & TA are "fuel", because every trader sees the same chart, no matter if retail, bank, institutional, ... {quote} Yes, I've seen that too: Positive / negative impact news, but the market didn't move much or even moved in the opposite direction. It depends on the bigger picture, what the market is expecting. If you have a positive news, but the market moves in the opposite direction, this could be because the market ("SM") thinks the positive news wasn't positive enough to convince the CB not to cut rates at the next meeting....
Thanks for your response..

I am an advocate for further learning but after just over a decade trading TA, I would pass on learning anything about FA.. Simplicity is More

I believe those interested in learning more about FA should kindly take advantage of these clips provided.

SS
  • #566,435
  • Dec 17, 2020 8:47am Dec 17, 2020 8:47am
big time load up going here. so i'm raising my target to 1.3714
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In tea leaves we trust!
  • #566,436
  • Dec 17, 2020 8:47am Dec 17, 2020 8:47am
Quoting JayBag
{quote} Very furious I must say.. I think he has bigger plans this time.. And yes, more vodka would really help so he could use that fat finger.. I am currently practicing social distancing with him
then how i serve this vodka if you dont want caught near him this time.. should we call wave lee to send this vodka to him..
Trade what you see, not what you think.. react and stay sharp..
  • #566,437
  • Dec 17, 2020 8:48am Dec 17, 2020 8:48am
Quoting Hutch
{quote} Here is the system. Please take a look at the info text file where you will see links showing that there are a few problems with the Half Trend TT but they can easily be avoided with experience. Good luck. {file}

Hi Hutch , thanks for the share. Is there a link to tell me where to put the indicators ? As i understand it, I need to open a 1 min chart, the
attach the STS renko ? and then open a M2 chart ??

Thanks again

Al
  • #566,438
  • Dec 17, 2020 8:48am Dec 17, 2020 8:48am
Quoting Sang.Real
{quote} Hi JayBag. Can you please request Spike Lee to wait until I close my trade with targeted TP. If not, I will call Moty to use his hammer on Spike Lee. Thanks and my regards to Spike Lee....
.. I would if I could.
thing is, Spike Lee has gone rouge and no one could attempt to stop him.. This is why I am practicing safe distance from him when he’s in this mood..

Hes younger brother ‘Wave Lee’ is better but not him.. Moty’s Hammer? You clearly don’t know Honorable Spike Lee
  • #566,439
  • Dec 17, 2020 8:48am Dec 17, 2020 8:48am
Quoting Sang.Real
{quote} Hi all. This is newbie analysis. Everyone are welcome to express view or/and comments. I appreciate that. Now waiting for price to break minor support to reach target (TP). Patient is important in trading. No way to get rich quick in trading, it's always slow and steady. Cheers {image}
From the 15 minute perspective there is nothing to suggest this will go down ,the current swing looks corrective , why do you want to trade a correction ?

The nearest larger degree old resistance now becomes support you have at 3554 within the larger degree current swing there is also an old resistance becomes support at 3539.

imho there is no technical reason to short,, that is not to say it will not go down but from a t/a perspective it would not be a high confidence trade more of a lucky hit that will convince you that is the way to trade until next time when you luck runs out.
Follow The Markets Structure - Patience and Discipline
  • #566,440
  • Dec 17, 2020 8:50am Dec 17, 2020 8:50am
Quoting miedpreneur
{quote} then how i serve this vodka if you dont want caught near him this time.. should we call wave lee to send this vodka to him..
Haa.. Now we have a problem..
He actually spanked wave Lee this morning for being so slow.. I doubt he would wanna get close to him too..

I think I have a plan.. Let’s do a drone delivery
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