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Cable Update (GBPUSD)

  • #576,461
  • Feb 5, 2021 3:33am Feb 5, 2021 3:33am
Quoting Myismael
I think the bulls are here
Where :'( haha
  • #576,462
  • Feb 5, 2021 3:34am Feb 5, 2021 3:34am
Quoting Sang.Real
{quote} GU Cut Loss. Re-Enter Short Scalping. Hope it goes well.... {image}

GU

to hold or to close ?...

Red news in one hour from now.

I hope it spike down and bounce.....
Attached Image (click to enlarge)
Click to Enlarge Name: GU 132.jpg Size: 257 KB
  • #576,463
  • Feb 5, 2021 3:36am Feb 5, 2021 3:36am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 50 KB
yes yes yes
  • #576,464
  • Feb 5, 2021 3:36am Feb 5, 2021 3:36am
Quoting cymru1
{quote} Where :'( haha
they had to make a donut stop first lol
  • #576,465
  • Feb 5, 2021 3:37am Feb 5, 2021 3:37am
Wishful thinking is when you are buying and its selling below your entry price.
Keep the Lights on then you can catch the rise from the dark.
  • #576,466
  • Feb 5, 2021 3:37am Feb 5, 2021 3:37am
As I missed my short entry then lets talk about Fibos.

In the downtrend, the retacement Fibo gives you clues as to where to enter. In this Fibo which I just drew, the retracements close to 61.8 and 78.6 levels were not significant but enough to bag 30+ pips at a time.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 101 KB


You can draw the Fibos as you like but yours unfortunately not provide valuable information on entry to market as it looks at only one short spike and not overall short term trend.


Cheers,
I

Quoting Bartosz77
Price went down by 23.6% from the most recent upwards move. {image} A little rise (to about 1.36905) and we follow to 50%. Go up to 38.2% and down again.
  • #576,467
  • Feb 5, 2021 3:38am Feb 5, 2021 3:38am
Quoting Moty
{image} {image}
Are we still expecting Gold to rise?
  • #576,468
  • Feb 5, 2021 3:41am Feb 5, 2021 3:41am
Just set SL at BE and hope you are set for right direction if in doubt.

Quoting Sang.Real
{quote} GU to hold or to close ?... Red news in one hour from now. I hope it spike down and bounce..... {image}
  • #576,469
  • Feb 5, 2021 3:46am Feb 5, 2021 3:46am
Quoting Ilvez
Just set SL at BE and hope you are set for right direction if in doubt. {quote}
Still learning - could you explain what you mean by BE?
  • #576,470
  • Feb 5, 2021 3:48am Feb 5, 2021 3:48am
Quoting cymru1
{quote} Still learning - could you explain what you mean by BE?
break even
Insane in the Brain..
  • #576,471
  • Feb 5, 2021 3:54am Feb 5, 2021 3:54am
Quoting Bartosz77
{quote} Hello Headland, sorry for replying so late to your post. I am drawing Fibonacci retracements. It means that levels shown are the amount of price going back from the main move range. EG: If there is an upwards move (like yesterday after the BoE news) Fibonacci retracement needs to be plotted from the bottom to the top. Drawn levels say: 23.6 = the price has returned by 23.6% from the maximum move upwards, 38.2 = the price has returned by 38.2% from the maximum move upwards and so on. If the main move is south, I do the opposite. Cheers, Bartosz...
But...you are plotting your fibs upside down in your chart.
  • #576,472
  • Feb 5, 2021 3:56am Feb 5, 2021 3:56am
Quoting Bartosz77
{quote} Guess where is the price going to now...? {image}
In this chart
  • #576,473
  • Feb 5, 2021 3:57am Feb 5, 2021 3:57am
There seems to be renewed buying pressure from the bulls on GBP/USD. Might consider getting on Monday but for now I am out due to the upcoming Non-Farm Payroll news.

Attached Image (click to enlarge)
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  • #576,474
  • Feb 5, 2021 3:59am Feb 5, 2021 3:59am
Yesterday was UP, today is DOWN.
Sell 1.368....
TP: Bottom of yesterday's spike.
  • #576,475
  • Feb 5, 2021 4:00am Feb 5, 2021 4:00am
Who noticed JpY weakness across board..... Any reason for that as it's affecting gbpjpy
  • #576,476
  • Feb 5, 2021 4:00am Feb 5, 2021 4:00am
Any thoughts on GOLD?
  • #576,477
  • Feb 5, 2021 4:07am Feb 5, 2021 4:07am
Hello. Just popping in for a couple of hours for NFP. The last 1hr close very much like yesterday's daily candle close (gmt+2 daily candle) ie a bullish bodied hammer type candle.

At today's current hi (3712) 76.4% fib of 3757-3566 and at the current p/back lo 61.8% of 3650-3712. 1hr is below.
Attached Image (click to enlarge)
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Trader with an Edge.
  • #576,478
  • Feb 5, 2021 4:09am Feb 5, 2021 4:09am
Quoting Tim_isoara
{quote} But...you are plotting your fibs upside down in your chart.
Can you tell me why is this called "Fibonacci RETRACEMENT"?

It is called a RETRACEMENT because it shows where to will the price RETRACE after the move.

So again - values on the plotted fib retrcements are "whole move - percentage of the fib level".
WT
  • #576,479
  • Feb 5, 2021 4:10am Feb 5, 2021 4:10am
Quoting cymru1
Any thoughts on GOLD?
I have it dropping to 1680 in the next couple of months before going up again to challenge 1900 and 2000.
Observation is the path to discovery.
  • #576,480
  • Feb 5, 2021 4:12am Feb 5, 2021 4:12am
Quoting Tim_isoara
{quote} In this chart
In this chart I see two moves up which will eventually be "eaten down" by reaching fib levels downwards. That is why I plotted them from the bottom of the move to the top (as those two moves were heading north).
WT
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