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Cable Update (GBPUSD)

  • #569,381
  • Dec 29, 2020 9:04pm Dec 29, 2020 9:04pm
[email protected]
[email protected]
[email protected]
  • #569,382
  • Dec 29, 2020 9:10pm Dec 29, 2020 9:10pm
Quoting Kaysole
[email protected] [email protected] [email protected]
Can you plz advise which system gives a short trigger out of bullish consolidation breakout that we are seeing now?
  • #569,383
  • Dec 29, 2020 9:10pm Dec 29, 2020 9:10pm
Quoting Sang.Real
Hi all, This is my analysis for the possible set up using SNR. Appreciate if you have any comments on the set up for learning purposes and to improve newbie trading. Thank you very much. P/s Jaybag - we need Spike Lee to make this set up work. {image}
This analysis of yours has played out very nicely so far.
  • #569,384
  • Dec 29, 2020 9:11pm Dec 29, 2020 9:11pm
Quoting Moty
another lesson o.k no problem , i can get my loss back if it get to the target {image}
What indicator is that Moty?
I have not seen it before.
Compulsions can be hard to resist
  • #569,385
  • Dec 29, 2020 9:38pm Dec 29, 2020 9:38pm
Quoting Moty
another lesson o.k no problem , i can get my loss back if it get to the target {image}
i said 1000 times its going up but no one believed me, many people laughed at my posts...

big thanks to experienced, senior traders....
  • #569,386
  • Dec 29, 2020 9:41pm Dec 29, 2020 9:41pm
GBP/USD clearly at wave 4 now. very high potential for sell. careful with a long position.
Attached Image (click to enlarge)
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  • #569,387
  • Dec 29, 2020 9:48pm Dec 29, 2020 9:48pm
Quoting Rgentm
{quote} Can you plz advise which system gives a short trigger out of bullish consolidation breakout that we are seeing now?
I don't use a specific system, per se, but I'll try to explain the reasoning behind my decision.

Well, first of all, I've been bearish for sometime now and when the Brexit deal was done and dusted and still couldn't break the previous week's high, I had stronger conviction it wasn't going up. Could be that the market had already priced it in maybe? Whatever the reason, it was the best opportunity to break the resistance and yet it failed to do so.

In addition, I believe that the pound needs some positive news to break beyond the recent highs and I just don't see it coming (I know that sentiment could change in a heart beat, hence my SL).

What's more, my target is still above last week's low, meaning I'm not that bearish that I would expect price to break out of its weekly range (at least not until now).

Finally, the place where I took the short has a good risk-reward ratio.

All things being considered, I felt it was a risk that I could take as there's more room to the downside than up. Of course, I could be wrong and price could easily slice through my SL and beyond, but I'm willing to accept it were that to happen.

And about the consolidation and breakout, it really depends on what timeframe you're viewing the chart; in other words, it's relative.
  • #569,388
  • Dec 29, 2020 9:55pm Dec 29, 2020 9:55pm
here many people with different strategy , i always open long or short as per my strategy and never believe any posts or suggestion here bcos it make you confused..

according to my strategy gbpusd is going up even it touches any trendline or in any wave...strong belief and confidence on my strategy i never go for sell
  • #569,389
  • Dec 29, 2020 10:01pm Dec 29, 2020 10:01pm
Quoting navk
{quote} TO me, the price is for a fall when Frankfurt/ London opens.
I agree with you!!!
  • #569,390
  • Dec 29, 2020 11:01pm Dec 29, 2020 11:01pm
Quoting ShanFX
GBP/USD clearly at wave 4 now. very high potential for sell. careful with a long position.{image}
ShanFX, you need to study more...http://forex-indicators.net/cycle-in...tt-waves/rules
Always trade your own plan...I don't provide trading signals.
  • #569,391
  • Dec 29, 2020 11:11pm Dec 29, 2020 11:11pm
GU may target up to 1.3610s before retracing down again
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #569,392
  • Dec 29, 2020 11:11pm Dec 29, 2020 11:11pm
Looking good so far
Hh and hl in the h4 chart
Yesterday move was the flag of the bullish flag
Attached Image (click to enlarge)
Click to Enlarge Name: CamScanner 12-30-2020 07.09_1.jpg Size: 137 KB
yes yes yes
  • #569,393
  • Dec 29, 2020 11:13pm Dec 29, 2020 11:13pm
Quoting Sang.Real
{quote} GU Successful blast off with Captain Spike Lee. Approaching target zone. {image}

GU

Three hours later.

Target reached .


Waiting to find next set up for London.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 036.jpg Size: 370 KB
  • #569,394
  • Dec 29, 2020 11:21pm Dec 29, 2020 11:21pm
Quoting Coreg2004
{quote} ShanFX, you need to study more...http://forex-indicators.net/cycle-in...tt-waves/rules
I'm NOT FOLLOWING ANY ELLIOT WAVE STRATEGY HERE! It's MY OWN WAVE ANALYSIS.GU WILL DROP
  • #569,395
  • Dec 29, 2020 11:34pm Dec 29, 2020 11:34pm
Quoting Kaysole
{quote} I don't use a specific system, per se, but I'll try to explain the reasoning behind my decision. Well, first of all, I've been bearish for sometime now and when the Brexit deal was done and dusted and still couldn't break the previous week's high, I had stronger conviction it wasn't going up. Could be that the market had already priced it in maybe? Whatever the reason, it was the best opportunity to break the resistance and yet it failed to do so. In addition, I believe that the pound needs some positive news to break beyond the recent highs...

Great post Kaysole!

This is an excellent point. The first step to meaningfully comparing the risk to own trading systems is to define one objective - what are trying to accomplish.

I am considering myself still a newbie in this wild market anyways.
Risk only exists within a context.

I particularly agree with and like the part RISK / REWARD u've posted above.

I learned a lot from your post hoping one day to become consistently profitable Newbie Trader.

Again, great post Kaysole.!

Sincerely

Newbie
  • #569,396
  • Dec 29, 2020 11:39pm Dec 29, 2020 11:39pm
Quoting Sang.Real
{quote} Great post Kaysole! This is an excellent point. The first step to meaningfully comparing the risk to own trading systems is to define one objective - what are trying to accomplish. I am considering myself still a newbie in this wild market anyways. Risk only exists within a context. I particularly agree with and like the part RISK / REWARD u've posted above. I learned a lot from your post hoping one day to become consistently profitable Newbie Trader. Again, great post Kaysole.! Sincerely Newbie
Thank you very much Sang.Real, I'm glad that you've found it useful.
  • #569,397
  • Dec 30, 2020 12:03am Dec 30, 2020 12:03am
Quoting maheeee
{quote} i said 1000 times its going up but no one believed me, many people laughed at my posts... big thanks to experienced, senior traders....

I'm sorry if i make any offending comment about your posts..

I'm glad if u can show me some post people laugh at your post.

Even as Newbie in this thread, nobody had laugh or ridicule my post as most of us here are very supportive and willingly share ideas and xchange trading view.

ok, my questions...
why did u sound so upset when other people don’t listen to you ?

As Newbie, I always look forward to learn from experienced traders in this thread.

Quality of posting plus charts and some descriptions why the set up as such.

2ndly, open Trade Explorer ( preferably with live account) to show you’re in the trade as you post it.

3rdly, take it easy. Be like Moty, Jaybag , Kaysole, Coreg2004, Waveskirob, detector, Catempire etc.
All those people are cool and never get upset when Newbie (like me) trade against their trade/post.

So you won't get messed up by opinions that differ. Cool it ok .....


Thank you for your time to read my post.
  • #569,398
  • Dec 30, 2020 12:12am Dec 30, 2020 12:12am
For while not changed nothing, i want sell.

Attached Image (click to enlarge)
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Together we can be strongest
Vantage Return This Month: na
  • #569,399
  • Dec 30, 2020 12:22am Dec 30, 2020 12:22am
Quoting palpite
For while not changed nothing, i want sell. {image}
Sell here , 1.35383
Btw , switched to short
Attached Image (click to enlarge)
Click to Enlarge Name: CamScanner 12-30-2020 08.19_1.jpg Size: 149 KB
yes yes yes
  • #569,400
  • Dec 30, 2020 12:33am Dec 30, 2020 12:33am
Good Morning Gang,

Spike Lee sneaked in last night during ASIA session..

Anything above 1.35425 would be Lee's territory

Let's see how it goes.
Happy Holidays
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