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Cable Update (GBPUSD)

  • #576,301
  • Feb 4, 2021 8:21am Feb 4, 2021 8:21am
MY TP 1.37142
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 38 KB
yes yes yes
  • #576,302
  • Feb 4, 2021 8:26am Feb 4, 2021 8:26am
Quoting ChiForex
GU have clear resistances on upside than supports on downside. On weekly, resistance found around 1.3820, a base above will target 1.3900s and support starts from 1.3670 to 1.3620s and possibly 1.3560s that should hold the pair from falling. On monthly, resistance expected around 1.3900s and support of 1.3520s, should both hold the pair within for this month.
We are back to the boring game at the starting support zone 1.3670-1.3620s
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #576,303
  • Feb 4, 2021 8:34am Feb 4, 2021 8:34am
GU

Scalping on pullback
Attached Image (click to enlarge)
Click to Enlarge Name: GU 126.jpg Size: 214 KB
  • #576,304
  • Feb 4, 2021 8:37am Feb 4, 2021 8:37am
Looks like 137 not happening today. Hopefully this isn’t the start of another drop.
Insane in the Brain..
  • #576,305
  • Feb 4, 2021 8:44am Feb 4, 2021 8:44am
Quoting Georginson
{quote} Now new first sell placed at 1.3695... second sell limit at 1.3740... bears were warned not to get trapped at 1.3575. My bias is now bearish, so I will space my sell trades from here.
Sell from 1.3695 manually closed now at 1.3665. I will be on the sideline and hopefully catch a better sell at 1.3740 area again if it gets there and if I miss out, I will hold on to my capital for another opportunity.
Data + Stat + Risk/Emotions Management
  • #576,306
  • Feb 4, 2021 8:50am Feb 4, 2021 8:50am
With this kind of move, I think a retracement of some sort is possible today
  • #576,307
  • Feb 4, 2021 8:51am Feb 4, 2021 8:51am
Quoting Beyfor
{image}
EW is not just 12345. Use abcxy.
  • #576,308
  • Feb 4, 2021 8:53am Feb 4, 2021 8:53am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDtsH4.png Size: 69 KB
  • #576,309
  • Feb 4, 2021 8:55am Feb 4, 2021 8:55am
Quoting greengp
I have never seen such a move
You are on FF from 2017. So....it'a a news an GU move 135 pips????
  • #576,310
  • Feb 4, 2021 9:00am Feb 4, 2021 9:00am
Are you sure your Fibos are correctly drawn? If you want to estimate price travel from top to point X you would need to start drawing Fibo expansion from the top and pick relevant bottom to measure price travel against. Or draw a retracement starting from bottom to top of the range to see where the price is from the top.

Or alternatively you draw retracement starting from the bottom and in both cases you would see that today price bounced off from 61.8% level. Which is 38.2% in your chart because the Fibo is upside-down. It is important because 38.2% fibo level gives way less confidence in deal than 61.8%

Second question is that why to pick 11.jan as relevant fibo level for daytrading?

Cheers,
I

Quoting randu
{quote} Nah... it's just fibo as I mention before {quote} See where it bounce? {image}
  • #576,311
  • Feb 4, 2021 9:05am Feb 4, 2021 9:05am
Quoting Moty
{image}{image}
Your chat on Gold just blew my account! LOL
  • #576,312
  • Feb 4, 2021 9:06am Feb 4, 2021 9:06am
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 55 KB
Attached Image (click to enlarge)
Click to Enlarge Name: go.png Size: 34 KB
yes yes yes
  • #576,313
  • Feb 4, 2021 9:17am Feb 4, 2021 9:17am
Quoting Sang.Real
GU Scalping on pullback {image}

GU

Revised SL/ TP

Price hit R and bump, retest

break down to target.

Wait to see if price can reach target by London Close.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 127.jpg Size: 273 KB
  • #576,314
  • Feb 4, 2021 9:27am Feb 4, 2021 9:27am
Took some drawdown but added more positions. Now how the Central Banks all over the world coordinate together to get price back into Control Zone. Therefore, GBPAUD hasn't move all week according to how Central Banks think. Posted earlier what would happened with picture. Think like a Central Bank, I direct the Marker Makers to take all stoplosses then collect our 1 trillion dollars back. Simple instructions to Market Maker who see all positions and stoplosses. You almost had them, lol....
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM30.png Size: 65 KB
  • #576,315
  • Feb 4, 2021 9:28am Feb 4, 2021 9:28am
Quoting goldenbody
{quote} Your chat on Gold just blew my account! LOL
I AM also in a big loss there
yes yes yes
  • #576,316
  • Feb 4, 2021 9:29am Feb 4, 2021 9:29am
Quoting Moty
{quote} I AM also in a big loss there
Let us hope the market goes our direction eventually
  • #576,317
  • Feb 4, 2021 9:33am Feb 4, 2021 9:33am
I WILL buy new hourly high
yes yes yes
  • #576,318
  • Feb 4, 2021 9:33am Feb 4, 2021 9:33am
Quoting Sang.Real
{quote} GU Revised SL/ TP Price hit R and bump, retest break down to target. Wait to see if price can reach target by London Close. {image}

GU

Coming another small bump before reaching target.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 128.jpg Size: 290 KB
  • #576,319
  • Feb 4, 2021 9:58am Feb 4, 2021 9:58am
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.png Size: 28 KB
Attached Image (click to enlarge)
Click to Enlarge Name: dx.png Size: 18 KB
yes yes yes
  • #576,320
  • Feb 4, 2021 10:03am Feb 4, 2021 10:03am
Quoting Moty
{image}{image}

What you think Gold will go more down or retest again the Weekly S2 level and What's your SL Level?
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