Cable Update (GBPUSD)

I think the M is confirmed and bull flag invalidated, short currently running about 50 pips or 5xR. Watching 1.3750 next

Just need some shit data from my country tomorrow and we are away to the races

Hi Coolmakina, could be a good trade off the round number1.38000 for a possible retest of 1.38500. You have the odds stacked and anything is possible.
Cheers Mate.

profit hit

ok. Boys. I am out. 2:1 R:R - just imagine if you risked $1000 you would have ended making $2000. ( $50 Risk : $100 Reward)

Hi,
Thank You Wavegarrick for your comment. This still a demo of o code that i tried to develop myself.
i have zero experience with coding..
i just found, that i'm not a good coder. .
i pretended to have the signal on current price, but it being positioned at candle close.
So the signal, or the so pretended signal is only confirmed after candle close. not during its building (if i may say that!).
will try to fix this (dig on web).
however it's already good if one's knows and have patience to wait for the candle to close.
Atm, looks like ot can be used at extremes.
i will see.
Thank you once again.
Stay cool.

138 being the resistor

long in at 1.3813

Few pips

GBP/USD TESTING 1.3800 LEVEL

 

1. GBP/USD has dropped back to test the 1.3800 level from AsiaPac highs above 1.3850.

1. Dip-buyers might be waiting for the pair to drop back to support at the 1.3760 level to add to positions.

1. Position adjustment following recent outperformance and negative Brexit headlines could both be weighing on sterling.

GBP/USD’s fortunes took a turn for the worse upon the arrival of European market participants on Thursday, who opted to sell the pair from its end of Asia Pacific session levels above the 1.3850 mark, driving the currency back towards the 1.3800 level. The big figure is holding up for now, but if the level was to go, this would open the door to what would likely be a rapid drop back to the 1.3760 mark given a lack of notable levels of support in the interim.
A test of support at 1.3760 (the 27 January and 1 February highs) might entice some dip buyers, especially given the fundamental backdrop remains arguably GBP supportive given the lead the UK continues to hold versus most of its other developed market peers in the vaccine rollout rate. Was the 1.3760 level to go, perhaps dip buyers might instead wait for a test of the psychological 1.3700 level, which also coincides quite nicely with the 21-day moving average (which currently sits at 1.3690 but is likely to rise to around 1.3700 in the coming days).


Sterling loses some shine

GBP has lost out versus the majority of its G10 peers (aside from JPY) on Thursday. In all fairness, underperformance is more likely just a result of position adjustment (i.e., some profit-taking) after a period of strong performance recently. Indeed, sterling is still the best performing G10 currency year-to-date, up just over 1.0% versus the US dollar (compared with EUR and JPY, which are 0.9% and 1.5% lower versus the US dollar respectively).


Note that there has been some focus on negative Brexit headlines on Thursday, which some market participants are arguing might be weighing on GBP a little; EU Chief Brexit Negotiator Michelle Barnier said that the EU needs more clarification from the UK before any it makes any decision on financial services equivalence (which would grant UK financial institutions access to EU financial markets).
Note that the UK and EU are working towards a March deadline for a deal on equivalence to be reached. The UK seems frustrated by the delays, with No.10 Downing Street saying on Wednesday that “despite the fact that we've supplied all of the necessary paperwork and are one of the world's most preeminent financial centres, with a strong regulatory system, the EU still hasn't granted us full equivalence.”


Comments from Barnier regarding the need for further clarification come after Bank of England Governor Andrew Bailey warned on Wednesday that there were signs that the EU plans to cut the UK off from its financial markets and cautioned the EU against going down this road.
Services account for 7% of UK GDP and 40% of all UK service exports go to the EU. Thus, a failure of the two sides to agree a services trade deal is likely to weigh on the UK economy in the medium term, and there are already signs that this might have begun; Amsterdam overtook London in January to become Europe’s largest share trading centre in January, seeing an average of EUR 9.2B in shares traded per day versus EUR 8.6B in London.

I hope the price go there in 1.3750, because i placed my target in 1.3760.

This is the news from MT4

almost break , but it will come

seems that i will be able to pick tops and bottoms now!

Looking happy Probably it says after candle close when you should have picked top or bottom, right because when candle is open it does not indicate anything?

not quite.
i´m trully dumb coding, but the indi i tried to make, it's based on values that are calculated when candle close.
not during the current period.
when candle opens it "drags" the smile , of the first tick, only when candle close it finish the calculation, even if during candle period calculation changes on every tick, smile don't go to top or bottom of the candle, that was initial idea, to trade breakouts, but i not that good, and the code i working only compares value at close with value at close of bar-1.
nevertheless, it can identify pretty well divergence, specially on extreme points or S/R levels.
here an example:
trade taken previously posted, was now validated by that last down bar with smile bellow (BUY).
what better place to buy beside a down candle?
what better place to short beside a up candle?
and if this happens at BB extremes? or S/R or fibos?

i just keep smiling!

Hi to all! Up Leg with Low Volume.....weak movement. Bears should increase their strength

Confirmed also on MT4 data

Watching 1.3796x for buyers to come in. Strong level of support imo.

Edit: 1.3775x better to enter. Confluence level.