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Cable Update (GBPUSD)

  • #577,981
  • Feb 15, 2021 4:21am Feb 15, 2021 4:21am
Quoting pipfarm
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 the 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...
Yep sounds ready for a short
A trader is as good as his stop loss. Understand your mistakes.
  • #577,982
  • Feb 15, 2021 4:21am Feb 15, 2021 4:21am
Quoting pipfarm
... 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,
Absolutely agree, and when you use them in conjunction with the aforementioned and specifically potential supp/res, they can provide for a hi-prob edge.
Trader with an Edge.
  • #577,983
  • Feb 15, 2021 4:30am Feb 15, 2021 4:30am
The problem, especially trend traders opinion, is that the market can go everywhere from everywhere. That is just not the case. Big boys use moneymanagement technics which need corrections, else they overleverage themselves or risk a huge amount. When you can move the market you have an edge, but the problem is to unload the stuff again - because you move the market than again. Everyone who executed a 15 Million order at night and the GBP/USD drops/moves 0.3 pips by that knows it is not far to go until you move the market.

That only applies of course to very liquid and professional markets like GBP/USD, Indices and so on. Very hard to earn money here but if you figured out the game, you have it forever.
  • #577,984
  • Feb 15, 2021 4:36am Feb 15, 2021 4:36am
Quoting Student21
{quote} Yep sounds ready for a short
the short won’t happen just yet... there is far too much energy in the bulls at the moment. We could see a rise to 13950 before any of that Red Bull wears off
Insane in the Brain..
  • #577,985
  • Feb 15, 2021 4:41am Feb 15, 2021 4:41am
Quoting helioss
Fibonacci is calling 1.4 {image}
How can I get that dashboard? I want it.
Thanks
  • #577,986
  • Feb 15, 2021 4:42am Feb 15, 2021 4:42am
At moment GBP is the strongest currency with strong momentum.... pay attention with shorts it's not time
Attached Image
  • #577,987
  • Feb 15, 2021 4:42am Feb 15, 2021 4:42am
There is likely going to be a retest of 1.385, but price is heading towards 1.395. We are at the second phase of a strong bullish run. A break of 1.395 will likely take us to 1.42-1.43 on the long-run. Trade your plan!
  • #577,988
  • Feb 15, 2021 4:46am Feb 15, 2021 4:46am
Quoting helioss
At moment GBP is the strongest currency with strong momentum.... pay attention with shorts it's not time {image}
totally agree! Expecting a rise up before any drop down. Hurts me to say this but today is Moty’s rocket day as opposed to hammer time
Insane in the Brain..
  • #577,989
  • Edited 5:59am Feb 15, 2021 4:52am | Edited 5:59am
Quoting BeeTogether
{quote} totally agree! Expecting a rise up before any drop down. Hurts me to say this but today is Moty’s rocket day as opposed to hammer time
Should drop a bit from here.. standing by R2 being the cap for this morning (not saying short now, lets see)

This is getting really boring though- leaving it for today. Presidents day, not going to get any better. GU might have found its equilibrium price for the day
  • #577,990
  • Feb 15, 2021 4:57am Feb 15, 2021 4:57am
GU taking slow downward momentum after close of 1HTF candle to 1.384/5 before going uptrend to 1.40
Attached Image (click to enlarge)
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  • #577,991
  • Feb 15, 2021 5:28am Feb 15, 2021 5:28am
Go my wonderful bears and bring me the pips.

(ps: this will be the fiercest fight; the bullish momentum is really strong)
Risk Management is of utmost importance!
  • #577,992
  • Feb 15, 2021 5:33am Feb 15, 2021 5:33am
first sign for short in two weeks, but gbp are just too strong
patience, patience, patience and after that more patience
  • #577,993
  • Feb 15, 2021 5:38am Feb 15, 2021 5:38am
Quoting vanca
first sign for short in two weeks, but gbp are just too strong
Where is the first sign ?
  • #577,994
  • Feb 15, 2021 5:43am Feb 15, 2021 5:43am
I notice every time there is less volume , GBP tends to drift higher, at the moment it is having hard time clearing 1.3910, I am long from last night 1.3864 . if it does not clear 1.3910 in the next 1hr or so it will go for a correction.
  • #577,995
  • Feb 15, 2021 6:14am Feb 15, 2021 6:14am
1.38000 is coming
Attached Image(s) (click to enlarge)
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yes yes yes
  • #577,996
  • Feb 15, 2021 6:18am Feb 15, 2021 6:18am
Quoting Fix-it
I notice every time there is less volume , GBP tends to drift higher, at the moment it is having hard time clearing 1.3910, I am long from last night 1.3864 . if it does not clear 1.3910 in the next 1hr or so it will go for a correction.
Make a plan and stick to it. Don't force trades.
It is all about the foreign exchange market.
  • #577,997
  • Feb 15, 2021 6:21am Feb 15, 2021 6:21am
Quoting Fix-it
I notice every time there is less volume , GBP tends to drift higher, at the moment it is having hard time clearing 1.3910, I am long from last night 1.3864 . if it does not clear 1.3910 in the next 1hr or so it will go for a correction.
That, my friend, is the stop hunting
  • #577,998
  • Feb 15, 2021 6:24am Feb 15, 2021 6:24am
Finally-looking good for a pullback to 1.3870 or maybe even the pivot with any luck.
  • #577,999
  • Feb 15, 2021 6:26am Feb 15, 2021 6:26am
do forexfactory pound traders think they can do a reddit wallstreetbets by taking out hedge funds from their shorts
  • #578,000
  • Feb 15, 2021 6:29am Feb 15, 2021 6:29am
The slow stocastic on daily base has not touched the 20's line since sept 25 2020 !!! May be Wolfram(gang? sorry) has some stats to that.

As far as I can see that is VERY rare.
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