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Cable Update (GBPUSD)

  • #577,961
  • Feb 15, 2021 2:35am Feb 15, 2021 2:35am
Quoting Headland
...150% 3866-3775 just exceeded @ current dly hi, Dly R2, Wkly R1 just above. 161.8% of that move @ 3922 in this prev v.minor dly sw lo zone = prev supp=pot sbr from march 2018 to 3929. Mthly R2 is 3943.
Above here that prev wkly sw lo zone = prev supp = potential sbr starting @ 3965 - circa 4006 (from april 2018.) Some other secondary/tertiary pot res factors in it.

Quoting Sang.Real
{quote} GU L.O. with noob entry hoping price will go down.... Add to Scalping position..... {image}
supportive regular bearish divergence 1min, 15min, 30min @ the current dly hi in that zone discussed in posts today....15min below by way of eg showing the double div on the histogram... (sorry for the wobbly lines showing the osc div lol.)
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Trader with an Edge.
  • #577,962
  • Feb 15, 2021 2:39am Feb 15, 2021 2:39am
Quoting Theoak
{quote} Very good. I'm the same as you don't post as much. I don't think most people care anyway. I just come on now again for the banter and read the abuse.
haha
indeed
in wondering about yourself, you forgot what you came here to be part of
  • #577,963
  • Feb 15, 2021 2:39am Feb 15, 2021 2:39am
3915/ 20 shorting area. Back to pivot.
IMO
Intraday only.
  • #577,964
  • Feb 15, 2021 2:47am Feb 15, 2021 2:47am
Quoting Headland
{quote} Above here that prev wkly sw lo zone = prev supp = potential sbr starting @ 3965 - circa 4006 (from april 2018.) Some other secondary/tertiary pot res factors in it. {quote} supportive regular bearish divergence 1min, 15min, 30min @ the current dly hi in that zone discussed in posts today....15min below by way of eg showing the double div on the histogram... (sorry for the wobbly lines showing the osc div lol.) {image}

Thanks for your comment Headland.

I trade only using SNR, as this is what I've learn for the past one year.

I don't know what is "regular Bearish div" never read it yet.

Maybe I learn it next year (2022).

Still a noob, trying to find entry & exit by using SNR.

Keep up the good work to help Newbie.

Thanks

  • #577,965
  • Feb 15, 2021 2:48am Feb 15, 2021 2:48am
Quoting helioss
SMART MONEY BELIEVE in UPTREND {image}
Bulls run!
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  • #577,966
  • Feb 15, 2021 2:49am Feb 15, 2021 2:49am
Last week's range completed 230pips (hitting Bearish Daily SW low - 1.3912).

We should see a 50 pips or more pullback. Multi Bullish SW on 1hr, 4hr and daily tf to test before buy resumes.

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Major supply zone waiting to be tested
Le$$ I$ More
  • #577,967
  • Feb 15, 2021 2:52am Feb 15, 2021 2:52am
Fibonacci is calling 1.4
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  • #577,968
  • Feb 15, 2021 2:59am Feb 15, 2021 2:59am
Quoting pipfarm
Im holding through the dips and smaller moves down , this will be an epic bull wave


Followed the structure had some patience to hold over the weekend and now the wave did turn into an epic one.

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Follow The Markets Structure - Patience and Discipline
  • #577,969
  • Edited 3:28am Feb 15, 2021 2:59am | Edited 3:28am
Some movement in this mini wedge before a pullback. R2 might be the cap for the time being. IMO

Gilts continuing to dump. If cable does pull back it won't be long before we push up to 1.3950/75/1.40, I think.
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  • #577,970
  • Feb 15, 2021 2:59am Feb 15, 2021 2:59am
Quoting ChiForex
GU trying to keep basing above said 1.3820s first monthly resistance turned support now to target main monthly goal at 1.3900s
My monthly long awaited buy TP target had been met and monthly sell order executed at 1.3908 with initial TP down to 1.3820s and possibly lower according to price action on weekly too.. while SL only at a clear base above 1.40

Money management is always the main weapon especially in possible drawdown periods.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #577,971
  • Feb 15, 2021 3:10am Feb 15, 2021 3:10am
can you send a chart
  • #577,972
  • Feb 15, 2021 3:14am Feb 15, 2021 3:14am
Quoting KonstantinSt
long from 1.38919 tp 1.39219. then will proceed whit sell plan
tp not reach for 78 points switch to short 1.38940 tp open
  • #577,973
  • Feb 15, 2021 3:25am Feb 15, 2021 3:25am
I placed sell order at 1.389. Do you think it will come down?
  • #577,974
  • Feb 15, 2021 3:33am Feb 15, 2021 3:33am
HS broke... , neck 1,3896... aim 1,3876... cheers.

Pound is so overvalued and USD so undervalued... wow, long time not seen. Let's see how long that game can be kept up. Nice RR now, short 1,3891, SL 1,3898 Target 1,3876.
  • #577,975
  • Feb 15, 2021 3:43am Feb 15, 2021 3:43am
Quoting JackintheBox
HS broke... , neck 1,3896... aim 1,3876... cheers. Pound is so overvalued and USD so undervalued... wow, long time not seen. Let's see how long that game can be kept up. Nice RR now, short 1,3891, SL 1,3898 Target 1,3876.
Depends how you define over/undervalued, purchasing power parity puts cable around 1.50 I think

https://data.oecd.org/conversion/pur...rities-ppp.htm
  • #577,976
  • Feb 15, 2021 3:44am Feb 15, 2021 3:44am
Quoting JackintheBox
HS broke... , neck 1,3896... aim 1,3876... cheers. Pound is so overvalued and USD so undervalued... wow, long time not seen. Let's see how long that game can be kept up. Nice RR now, short 1,3891, SL 1,3898 Target 1,3876.
*rip*
  • #577,977
  • Feb 15, 2021 3:45am Feb 15, 2021 3:45am
Quoting mysterio
{quote} Depends how you define over/undervalued, purchasing power parity puts cable around 1.50 I think https://data.oecd.org/conversion/pur...rities-ppp.htm
I meant in short term (next week or two). Nice potential for correction. GBP is not strong over the board, if USD corrects we see it here, too. And as I said...retail hunting...
  • #577,978
  • Feb 15, 2021 4:04am Feb 15, 2021 4:04am
..battle of the divergences, ie regular bearish div on some t/f's to 4hr at the current dly hi, then the 5min hidden bullish div set up (entry timed as 1min reg bullish div) - Which one will win ? 5min below.
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Trader with an Edge.
  • #577,979
  • Feb 15, 2021 4:15am Feb 15, 2021 4:15am
From my perspective i see no reason to short at the moment,

The monthly, weekly, daily are all still strongly bullish, the daily is showing the impulse and corrective moves to the weekly short term trend,

The 4H is showing the impulse and corrective moves to the short term daily trend

and currently we are in an impulse trend move as shown on the 30 min which is showing the short term impulse and corrective moves of the 4H.

When the short term 4H trend or swing changes to corrective we will see it on the 30 min and that will be the time to exit longs.


Pivots, divergence and all the other things will not make sense unless it is in context with market structure, believe me i have tried it all,
Follow The Markets Structure - Patience and Discipline
  • #577,980
  • Feb 15, 2021 4:19am Feb 15, 2021 4:19am
...we now have a prev 1hr sw hi zone=prev res = pot res in that prev wkly sw lo zone =prev supp = pot sbr to 3929 as seen on 1hr below...
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Trader with an Edge.
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