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Cable Update (GBPUSD)

  • #575,261
  • Jan 29, 2021 5:43pm Jan 29, 2021 5:43pm
sorry all for the last posts.
i drunk tooooo much.......
hope no warm done.
stay cool.
If you don't know how to earn money, don't loose it.
  • #575,262
  • Jan 29, 2021 6:12pm Jan 29, 2021 6:12pm
  •  Rgkc
  • | Joined Dec 2010 | Status: Never stop learning about forex! | 419 Posts
Quoting coolmakina
sorry all for the last posts. i drunk tooooo much....... hope no warm done. stay cool.
Studing..............
  • #575,263
  • Jan 29, 2021 7:21pm Jan 29, 2021 7:21pm
Quoting Georginson
{quote} Yet the bears couldn't break the 1.3580 to invalidate 1.38...
Is this still valid? Do we still waiting 1.38?
EUR/USD
  • #575,264
  • Jan 29, 2021 8:25pm Jan 29, 2021 8:25pm
Quoting coolmakina
{quote} the 2 arrows would have been sufficient to say that price can go up or down... stay cool.
Yeah.. but my point was the close... still closed inside... so i would love to see bull continuation..
  • #575,265
  • Edited 11:15pm Jan 29, 2021 10:56pm | Edited 11:15pm
Quoting NhRedoy94
{quote} Nothing like this ,, i just want chart idea for putting my stop loss
The horse has already bolted!!!!
You are where you are because you didn't use a sl
This sometimes works when you are trading with the trend, you weren't, short term is strong bullish,
I will try and help you but if you continue doing as above would be a waste of time.
Firstly you are trading one of the hardest prs to trade, also called "the Widow Maker" , "the Beast" "the Dragon" with wide and variable spreads
Second, you need to know how GBP and Yen are performing, example USD is killing Yen, GBP is killing Yen since march 2020 GBP is killing USD since March 2020 so for you to try shorting GJ everything is against you!!!!!
(so you are effectively looking for a top, reversal, resistance, again very dangerous, a, without sl b, you get it wrong,)
Therefore you are in deep shit and its all your fault!!!
Personally I think you should either put in a sl above previous weekly & daily high 144 60 and let market play out, or close take the hit, learn and move on

Geppy However monthly closed bull candle near previous highs, weekly closed bullish, daily closed is half body inverted hammer and close is below previous daily high 143 70, 4hr closed, the 2nd to last candle closed bearish inside bar (a good chance of reversal south) last 4hr candle closed, spinning top with lower high lower low, the "Mother Candle" 143 36 High 143 31 lower time frame candles I don't care, therefore if I was you, I would put my sl above 143 36 and if it gets taken so be it, however if market gets below 143 31 I and I say I with a huge "sigh" enter short again with the sl above 143 36,
Result if???? pa should fall, your drawdown from you original entry will decrease and your new trade will exacerbate the decrease, the purpose is to stop the bleeding and reduce your draw down, if it pops above your sl your out anyway

Cable is very similar , Monthly small body doji @ resistance 1 3700 weekly HH & HL Daily last 3 daily candles spinning tops (confusion, 60/40 to the downside) 4hr inside bar, mother candle etc

UJ I am expecting to rally but it is right now @ resistance, so that will not help you, Monthly bullish Weekly bullish Daily bullish closes 4hr is pennant 50/50 my marker is 104 74, pennant has 104 95 high 104 48 low above continuation below pullback
Hope this is helpful but-

Please never get in the poop and come on a site with total strangers and ask for help for this BS "peace"
If you are new to Forex? Say Goodbye to your account!!
  • #575,266
  • Jan 30, 2021 12:58am Jan 30, 2021 12:58am
Betting on a false BO down.
After fooling everybody, the real BO will be going up.
Buys have added +65 new units on their account.
Every Friday, their account grows...
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Maadik Hugiis. IQ 69.
  • #575,267
  • Jan 30, 2021 2:09am Jan 30, 2021 2:09am
Quoting Nevals
{quote} Is this still valid? Do we still waiting 1.38?
Now February is upon us, that analysis was for January. Wait for new zones this February, I will post these new zones once I'm done with my analysis...
Data + Stat + Risk/Emotions Management
  • #575,268
  • Jan 30, 2021 2:11am Jan 30, 2021 2:11am
Quoting Kaysole
{quote} Such a shame you threw in the towel so early, I was looking forward to our duel. I guess I'll close my positions too now. Till we meet again...
No Victor, No Vanquished but you could have lost the tie... In summary I had my buy closed at 60 pips gain which isn't bad.
Data + Stat + Risk/Emotions Management
  • #575,269
  • Jan 30, 2021 4:40am Jan 30, 2021 4:40am
Quoting Georginson
{quote} No Victor, No Vanquished but you could have lost the tie... In summary I had my buy closed at 60 pips gain which isn't bad.
Hey Georginson, you could say that we both ended up victorious as we both closed in profit (I had 2 positions, 33 and 41 pips). True, we didn’t let the trades run, but the reason why I closed mine was because I didn’t want to keep it open heading to the weekend and risk a huge gap upwards. Had it been in the middle of the week, I probably would’ve kept it running.

Anyways, trading gets a little boring at times and such challenges bring a little much-needed excitement into it. I hope you weren't offended by my banter.

Good luck on your trading.
  • #575,270
  • Jan 30, 2021 4:52am Jan 30, 2021 4:52am
Quoting Georginson
{quote} No Victor, No Vanquished but you could have lost the tie... In summary I had my buy closed at 60 pips gain which isn't bad.
Nicely put.....or, "NEVER STAY MARRIED TO A TRADE POSITION."
These things always change their minds, so why should you?
Lost....
  • #575,271
  • Jan 30, 2021 4:56am Jan 30, 2021 4:56am
Looking at 4hr, price broke to the upside of a 12 day ranging condition 3450-3710 only to start a new so far 8 day ranging condition on that t/f, 3759-3609.
That previous 1hr/4hr/dly swing hi zone to this week's just closed 3759 hi was tested twice on 4hr and rejected twice causing a bounce down on Thursday then Friday.

1hr too closes in a rangy condition whilst Daily records a 6th consecutive HL @ 3630, and a 3rd consecutive HH @ that 3759 hi in it's general fractal uptrend. Weekly too remains in a general fractal uptrend with a 7th consecutive HL @ 3450. There will be a H printed on Mthly either @ 3759 or higher after 2 x HL's the 2nd seeing a confirmed break and close above the multi-year descending t/line - so this t/f is exhibiting recent strength.

The prev wkly/mthly sw lo =prev supp = pot sbr that started @ 3711 and likely extends to 3790 on weekly, (and that is now co-existant with that prev 1hr/4hr/dly sw hi = prev res = pot res, to 3759) has so far capped the upside this year.

The break of the aforementioned 8-day range 3759-3609 could prove pivotal in establishing the short term future price direction. 4hr below.
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Trader with an Edge.
  • #575,272
  • Jan 30, 2021 5:08am Jan 30, 2021 5:08am
Quoting Kaysole
{quote} Hey Georginson, you could say that we both ended up victorious as we both closed in profit (I had 2 positions, 33 and 41 pips). True, we didn’t let the trades run, but the reason why I closed mine was because I didn’t want to keep it open heading to the weekend and risk a huge gap upwards. Had it been in the middle of the week, I probably would’ve kept it running. Anyways, trading gets a little boring at times and such challenges bring a little much-needed excitement into it. I hope you weren't offended by my banter. Good luck on your trading....
It's actually fun mate... I like the competitive banter. No hard feelings. Good luck to us all this coming February.
Data + Stat + Risk/Emotions Management
  • #575,273
  • Jan 30, 2021 5:29am Jan 30, 2021 5:29am
Quoting KiwiTrada
... you need to know how GBP and Yen are performing, example USD is killing Yen, GBP is killing Yen since march 2020 GBP is killing USD since March 2020 so for you to try shorting GJ everything is against you!!!!!
There's a useful reference table to be made out of this comment, imo. Lately I rarely trade GBP/JPY because the 'boring' pairs are more consistently predictable/profitable (in my experience). But when i did I used to always have USD/JPY chart open on a longer TF to give an idea if it was worth it or if I'd get whipsawed out because both sides of the cross are weak/strong.

It can NEVER be blamed on anyone on an internet forum but I think newer traders quickly absorb all the bigging up and formidable nicknames of GBP/JPY, GBP/NZD etc that goes on in the threads. These pairs end up seeming like a short cut to becoming a 'real' trader so they jump in without any real understanding of what they're doing, why the crosses behave that way and most importantly, when to stay out.
  • #575,274
  • Jan 30, 2021 5:50am Jan 30, 2021 5:50am
For the second week in a row, the market closes at 38 fib
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  • #575,275
  • Jan 30, 2021 5:54am Jan 30, 2021 5:54am
Very possible, we may have the first BIG bearish signal in Daily chart. Target 1.32500
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  • #575,276
  • Jan 30, 2021 6:21am Jan 30, 2021 6:21am
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  • #575,277
  • Jan 30, 2021 6:28am Jan 30, 2021 6:28am
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yes yes yes
  • #575,278
  • Jan 30, 2021 6:35am Jan 30, 2021 6:35am
Quoting crow
{image}
my chart says, and I see it with daily MACD
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Intraday only.
  • #575,279
  • Jan 30, 2021 6:54am Jan 30, 2021 6:54am
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  • #575,280
  • Jan 30, 2021 7:11am Jan 30, 2021 7:11am
Quoting pipprincess
{quote} There's a useful reference table to be made out of this comment, imo. Lately I rarely trade GBP/JPY because the 'boring' pairs are more consistently predictable/profitable (in my experience). But when i did I used to always have USD/JPY chart open on a longer TF to give an idea if it was worth it or if I'd get whipsawed out because both sides of the cross are weak/strong. It can NEVER be blamed on anyone on an internet forum but I think newer traders quickly absorb all the bigging up and formidable nicknames of GBP/JPY, GBP/NZD etc that...
if GBPUSD=short & USDJPY=short signals -> GBPJPY=2,5*short signals
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