Cable Update (GBPUSD)

Its ready now i think.. added some Spice Lee in it...enjoying my dinner... Closed all.. Great weekend all..

long at 3187.

stop 3171.

will leave it open tonight , if stop not hit.

I believe you mean 1.3587

Hi Shahab,
This can absolutely work for me with subtle bearish hints from a 4hr perspective. A retrace to your projected area and who knows?. We could have a nice move to the downside.
Thanks again for your valuable input.
Cheers.

Really? I don't think so buddy. There's a lot of room to go down. Let's see what the charts tell us on Monday

I know, but look the candles M15, is showing a pullback. I closed my trade.

Next week we can buy or sell, let the market finish the week.

have a nice weekend all

Good for you. But ego trips are little annoying.

Would you mind to test your 'divine' strategy against the coin flip?
Distribution of daily candles from 01.01.2012 to 07.01.2021 (closing at 22:00 GMT+0) is approximately equal. Hence, coin toss is a good alternative.

And here are the stats of daily range for this period (far outliers was filtered out, so there are 2336/2362 candles in dataset)
Did you make your predictions during Asian session or even at the end of a day? Because if price has moved, lets say 40 - 50 pips in range, it is much easier to guess. Not to mention other factors: lower TF PA, trend, patterns, etc.

Not an attack, but a suggestion to improve your strategy.

HAPPY WEEKEND ALL

This isn't something I would usually do, however, I have decided to let my positions run long this weekend. We'll see what happens Sunday night. To me, the CoT along with the reticence to break 1.35750, I'm fairly optimistic.

A clear structure of GU direction to the downside...

Haven't been around on ff.com this past week, may be back monday - just seeing whether being here affects my trading or not - no real difference this past week.

Week just closed...259pip range which is 101% of the 13 week awr. (Friday was a 126pip range which was 87% 30day adr.) The hi was a new uptrend hi of 3711.
So far this month, 44% of the 6mth amr travelled by price.

Wkly: candle closes slightly bullishly re the body but is a spinning top type candle with slightly longer upper than lower wick. The t/f remains in a general fractal uptrend with 6 consecutive HL's on the t/f, the last being 3185. Price remains above the steepest ascending t/line joining 2854 with 3134 on the t/f.
Dly: candle just closed (Friday's) was a solid bearish thrust candle after a couple of retests of the then prev 1hr sw hi zone to the 3711 weekly hi, [now a prev 4hr and dly sw hi zone also.] The t/f remains in a general fractal uptrend with 4 consecutive HL's and another HH now @ that 3711. The steepest ascending t/line joining 3185 with 3450 remains intact and price closed above it.
4Hr: The t/f is in a rangy condition with recent bearishness off the 3711 hi. 7 consecutive bearish bodied candle closes now on this t/f (on gmt+2 4hr candles.) There was a solid downside breech of it's steepest ascending t/line as described in 1hr discussion below.
1Hr: This t/f may be at the beginning of a new so far classic fractal downtrend with it's steepest ascending t/line that joined 3450 with 3620 solidly breeched to the downside. Price has found some support @ 23.6% 3134-3711 (Friday's lo and the prev 1hr sw lo zone down to that 3572 lo was being tested and held to produce a last 1hr bullish bodied doji close.

The closing state of the 20/50/100 ema crosses, over the t/f's is as below.

I think you got it the other way around, the people who were selling that day got burned (myself included) and the ones who were buying yesterday on Friday suffered (again, myself included).

I wholeheartedly agree with your statement that the market humbles us all, but there's a difference between friendly banter and intentional misguidance.

agree, a clearly double top formed already. Not a late time to add short.

Gbpusd should head downwards to 1.34800 and then one can long again for a nice and strong ride upwards.

monday candle probability of closing bull