Cable Update (GBPUSD)

So

AS CONCLUSION

you cannot start the EA at anytime you want to

you must find the right time to start based on chart

and dun interfere with it, because it will disturb the continuity of high and low and also affect the entry
so from the backtest i put at exact time that i think it appropriate on January 1.

of course after backtest it will display maximal drawdown; from here to calculate the MM

Thanks
Bye

you got that virtually spot on mate well done!!

bro you not trading cable?

Another great trading day

yes i am

EUR/GBP

Scalping LONG

SL 27,6 pips

That bottom end is my target how achievable it is I’m not sure.

quick question for those on IG what indicator do should I be using to see over bought/sold status

it's achievable

How it missed 1.386/5 area on 4h..

I hope you don't missed short from 1.3952

i did, only took scalping long on gold today.
didnt trade gu, will not sell it before 1.4 at least

Quoting JackintheBox

Disliked

{quote} Guy...you have a serious problem, but I think you know that. Anyway, your chart were showing long, so you lost at least your SL. your sentence: Bad news for my golden buys... She is gonna probably drop like a stone now was ironically... you were not short or closing, so why do you shout around here like you knew before? You lost money or at least lost your gains... not much contribution from that guy...

Ignored

Ironically, it is confusing, is not it?

PipiC is buying the USD in GU, while also buying the gold against the USD.

I am always buying the gold. Now in a higher draw-down, but also buying at cheaper prices.

If you read this tread carefully, you would catch the irony, cause all it is events based.

So far spot on , reason i do not trade corrections , wiped all the shorts , unless you got in early and were wise enough to take profit.

UselessInfo

The blue line should eventually test/cross 0-level. As of today, it has been above zero for 73 days, quite a long time.
Previous times:
2003-11-12, 22:00:00 - 2004-03-01, 22:00:00 (79 days, bounced from 0) (GMT time)
2009-03-19, 21:00:00 - 2009-07-06, 21:00:00 (78 days, bounced)
But they are optimistic about damn vaccines, so maybe 100 days run?

The probability of observing a line above zero for a certain number of days


Current reading of blue line is 0.0117 (let's say 117 pips). Depending on PA, to reach zero level it needs ~2-3+ amount of pips -- 234-351 pips.
(scale is different from built-in MACD, but the principle is the same)
If a swing has just started, 1.365-1.37 should be reachable.

to b.e.

(not not to be)

GBP/USD MANAGES TO RECLAIM 1.3900 AMID CHOPPY TRADE

 

1. GBP/USD is back above the 1.3900 level following a choppy period of trade.
2. USD and GBP are both performing well versus the rest of their G10 counterparts on Tuesday.

It’s been a choppy session thus far for cable, the pair having swung back from session lows around 1.3870 to above the 1.3900 level again in recent trade, though still some way from Asia Pacific session highs of just above the 1.3950 mark. Buying into the 4pm London fix appeared to save the pair from lows. As things stand right now, with GBP/USD trading just above the 1.3900 mark, the pair is flat on the day.

Driving the day

In terms of performance versus the rest of the G10 on Tuesday, GBP and USD are performing the best. The US dollar was given a boost on Tuesday by the release of a much stronger than forecast NY Empire State Manufacturing Index survey (the headline number jumped to 12.1 in February versus expectations for a much more modest rise to 6.0 from 3.5 in January). The Dollar Index got a noticeable boost from the data, helping launch it back above 90.50.


The strong survey bodes well for the Philadelphia Fed Manufacturing Survey and Markit PMI report set to be released on Thursday and Friday respectively this week. With Covid-19 infection rates in the US dropping sharply and precipitating further reopening, the impact of January stimulus starting to be felt and expectations for further fiscal stimulus ahead, US economic data is set to improve over the coming months.


Meanwhile, rising US bond yields are also giving USD a boost. US bond markets are experiencing a sharp sell-off on Tuesday upon the full return of US participants to the market; the 10-year yield is up over 8bps on the day to above 1.28%, whilst the 30-year yield is up a similar margin and now above 2.08%. Real yields are also rising, with the net effect being a favourable shift in the attractiveness of holding cash in USD versus other currencies.


Turning to GBP, the news flow has been light on Tuesday, but it seems as though the currency continues to be underpinned by the country’s excellent vaccination rollout progress (over 15.5M now vaccinated) as well as the persistent decline in the country’s Covid-19 infection and death rate. Focus is now on when and how aggressively the country will start to reopen its economy, assuming that vaccines work and reopening won’t be followed by a sharp increase in Covid-19 infections.

Source: MT4

Weldone

Hmm, long-legged daily doji at the current top is a good sign for bears.
+Other factors