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Cable Update (GBPUSD)

  • #569,041
  • Dec 28, 2020 3:49pm Dec 28, 2020 3:49pm
get ready we are back to 1.37000
  • #569,042
  • Dec 28, 2020 3:57pm Dec 28, 2020 3:57pm
Quoting maheeee
spike is coming soon
happening now
  • #569,043
  • Dec 28, 2020 3:58pm Dec 28, 2020 3:58pm
Quoting trumps
{quote} I'm not a fundamental/event trader, but PA usually reflects "expected" fundy outcomes. It is unusual for PA to react to the event itself, beyond a spike etc. It is nearly always priced in. A classic example is how the USD in recent years continued to rise on the "expected" rate rise. When the rate rise occurred, the dollar then dropped. The Brexit deal more or less done, is another example. You only have to visit the news threads to see traders scratching their heads, screaming things like, "why is $ dropping on this news" etc...
Trumps, I make fun of FA used for short-term trading...For so many years I have never heard any FA here to say: I enter/close the trade + fundamental reason...I will always explain why I took the trade based on my TA...Keep posting trumps, I like your charts.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 12.28.30M.b.png Size: 110 KB
Always trade your own plan...I don't provide trading signals.
  • #569,044
  • Dec 28, 2020 4:07pm Dec 28, 2020 4:07pm
Quoting trumps
{quote} Longer term time frame is my reference also. At this point, I see it going north. However, a deep move south could see 2630 area for a buy. {image} {image}
Appreciated. It's looked pretty dicey for shorts for a while now.. I am still short bias but would like to see a much larger move down before the end of the year.
Que Sera
  • #569,045
  • Dec 28, 2020 4:08pm Dec 28, 2020 4:08pm
On Thursday cable went as high as 1.3610. I guess traders liked the Brexit deal since GBP has gone up significantly.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM68.png Size: 38 KB
  • #569,046
  • Dec 28, 2020 4:09pm Dec 28, 2020 4:09pm
Quoting Coreg2004
{quote} Trumps, I make fun of FA used for short-term trading...For so many years I have never heard any FA here to say: I enter/close the trade + fundamental reason...I will always explain why I took the trade based on my TA...Keep posting trumps, I like your charts. {image}
yes, FA for short term trading would become quite a fickle business at best I think
Compulsions can be hard to resist
  • #569,047
  • Dec 28, 2020 4:12pm Dec 28, 2020 4:12pm
Quoting Hutch
On Thursday cable went as high as 1.3610. I guess traders liked the Brexit deal since GBP has gone up significantly. {image}
View that as the knee jerk reaction to a deal being reached as opposed to the details in the deal. The details in the deal and effects on the UK economy will start to play out now.
Que Sera
  • #569,048
  • Dec 28, 2020 4:17pm Dec 28, 2020 4:17pm
Quoting Coreg2004
{quote} Trumps, I make fun of FA used for short-term trading...For so many years I have never heard any FA here to say: I enter/close the trade + fundamental reason...I will always explain why I took the trade based on my TA...Keep posting trumps, I like your charts. {image}
Hi Coreg,
Are those Elliott waves?
Is it expensive? (I assume it's software generated).
Compulsions can be hard to resist
  • #569,049
  • Dec 28, 2020 4:58pm Dec 28, 2020 4:58pm
Quoting Moty
{quote} u r right . i switched to short with a little loss . if it drop from here to my tp , i will gain 120 $ if he decide to make me angry again , i will take it from the 50 % retracement and gain 160 $ {image}

Attached Image (click to enlarge)
Click to Enlarge Name: palpite1.png Size: 22 KB
Together we can be strongest
Vantage Return This Month: na
  • #569,050
  • Dec 28, 2020 5:03pm Dec 28, 2020 5:03pm
Quoting Moty
{quote} u r right . i switched to short with a little loss . if it drop from here to my tp , i will gain 120 $ if he decide to make me angry again , i will take it from the 50 % retracement and gain 160 $ {image}
the price needs to test pivot, 3485.

Then, let us see.
Intraday only.
  • #569,051
  • Dec 28, 2020 5:06pm Dec 28, 2020 5:06pm
Hi and thanks! Yes, I missed the picture, sorry.

The thing is, while I am relative newcomer in FX, I have quite long term background on finance stuff. And what comes to analysis or forecasting I have learned to keep very open mind about toolbox and I will use whatever I see fit for my purpose. Be it TA, FA or trading psychology. I do not preach one over another, or limit myself. Why should I? I believe TA is essential instrument, when used at appropriate timeframe, together with other supporting methods.

But when looking it at isolation, it may yield slightly strange or very bold conclusions, like the one from your picture:

https://www.forexfactory.com/attachm...9&d=1595194034

If focusing only on TA only, we are saying that because GU price made double bottom between Apr 2016 and Apr 2020, with some supporting candlesticks along the way, the whole United Kingdom as well as all of its global trade partners with the USD based economies, will make coordinated collective effort to reach the target GU rate of 1.5 during coming year or two? Just because of the monthly candlestick chart is telling us so?

Fortunately my trading horizon is way shorter, so I do not need to worry about such issues

Cheers,
I




Quoting JayBag
{quote} Thing about long term is, it requires a level of skill and most importantly experience.. You probably missed this when I posted it. https://www.forexfactory.com/attachm...9&d=1595194034 The above chart may have you rethink everything .. See how far we have come so far? you still don’t believe long term? There will always be someone better at something than another.. Where my knowledge stops, someone else begins there.. thats just how it is.. BTW, long term ideas has been my only back bone when it comes...
  • #569,052
  • Dec 28, 2020 5:42pm Dec 28, 2020 5:42pm
Quoting palpite
{quote} {image}
Market still without volume.

Attached Image (click to enlarge)
Click to Enlarge Name: palpite1.png Size: 19 KB
Together we can be strongest
Vantage Return This Month: na
  • #569,053
  • Dec 28, 2020 7:02pm Dec 28, 2020 7:02pm
Quoting palpite
{quote} Market still without volume. {image}
the price tends to retrace a bit... in Asia usually.

Very rarely the NY trend continues in Asia.

In london session, yes.
Intraday only.
  • #569,054
  • Dec 28, 2020 7:16pm Dec 28, 2020 7:16pm
Quoting navk
{quote} the price tends to retrace a bit... in Asia usually. Very rarely the NY trend continues in Asia. In london session, yes.
Yes and in the most of the time i stay out of Asia.

Attached Image (click to enlarge)
Click to Enlarge Name: palpite1.png Size: 20 KB
Together we can be strongest
Vantage Return This Month: na
  • #569,055
  • Dec 28, 2020 8:36pm Dec 28, 2020 8:36pm
Quoting Coreg2004
{quote} Tim_isoara, look for some stuff about AB=CD in these 2 pdf. files...Prechter's book doesn't have it (only ABC pattern). {image} {image}
Thank you for the answer.
  • #569,056
  • Dec 28, 2020 8:54pm Dec 28, 2020 8:54pm
hrly is doji right now 7mins to go, could prove positive for bears???
If you are new to Forex? Say Goodbye to your account!!
  • #569,057
  • Dec 28, 2020 9:02pm Dec 28, 2020 9:02pm
Quoting KiwiTrada
hrly is doji right now 7mins to go, could prove positive for bears???
no result so previous high is marker 1 34865 pa no 1 34852???
If you are new to Forex? Say Goodbye to your account!!
  • #569,058
  • Dec 28, 2020 9:39pm Dec 28, 2020 9:39pm
Quoting maheeee
i think today's down movement is over , so its going up...... all fx websites technical showing strong buy, avoid selling now..
am the only person in this forum said it will go up
  • #569,059
  • Dec 28, 2020 9:43pm Dec 28, 2020 9:43pm
Quoting KiwiTrada
{quote} no result so previous high is marker 1 34865 pa no 1 34852???
doesnt seem worth to look for technical in Christmas and NY period, it’s all shall be manipulation since no one is really trading now, banks and brokers are closing down)
  • #569,060
  • Dec 28, 2020 9:47pm Dec 28, 2020 9:47pm
Quoting Rgentm
{quote} doesnt seem worth to look for technical in Christmas and NY period, it’s all shall be manipulation since no one is really trading now, banks and brokers are closing down)
banks never close, but I agree, manipulation time however can produce volatility, asiapacific is a crap market for sterling anyway, will be keeping an eyeball on 135 tho, may even enter a short in defence, it deserves defending??? and sl will be reasonably small, r/r is ok so what the hell
If you are new to Forex? Say Goodbye to your account!!
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