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Cable Update (GBPUSD)

  • #578,721
  • Feb 18, 2021 1:05am Feb 18, 2021 1:05am
Maybe this is the move for GBPUSD today, waiting to see what happens on the breakout of this range.
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  • #578,722
  • Feb 18, 2021 1:06am Feb 18, 2021 1:06am
Quoting Theoak
{quote} OUT +6, +8 {image}
Hey !

I have few questions ?
1. Does the spread + commission affecting your trades ?
2. Do you use a SL?
3. What is your strategy like ? is it 15M>5M>1M Drop down or Break and retest.

Appreciate your response when time permits.

Cheers !
Fools Rushing
  • #578,723
  • Edited 1:31am Feb 18, 2021 1:09am | Edited 1:31am
Out of any positions for now, this channel held perfectly, have to assume it's a flag for now and probably expect it to break up but not entering anything for now. If one of the edges coincides with a S/R,fib, pivot etc I will prob scalp it

Coming up to the median point in a longer term ascending channel too so there is a possibility of going all the way down to 1.37ish. I'm only really interested in what price is doing in the current day I have no views on the long term

I'm in gold from 1774 last night trying to decide a good TP point, possibly 1810
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  • #578,724
  • Feb 18, 2021 1:11am Feb 18, 2021 1:11am
last call
boarding drop train
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yes yes yes
  • #578,725
  • Feb 18, 2021 1:13am Feb 18, 2021 1:13am
Quoting Moty
last call boarding drop train {image}
THOR arrived pre London Open ?


Attached Image

That's early..
  • #578,726
  • Feb 18, 2021 1:14am Feb 18, 2021 1:14am
Quoting MTF Test
{quote} Hey ! I have few questions ? 1. Does the spread + commission affecting your trades ? 2. Do you use a SL? 3. What is your strategy like ? is it 15M>5M>1M Drop down or Break and retest. Appreciate your response when time permits. Cheers !
I'll answer later Bud. Going out now for a run.
Don't trade what you think. Just what you see!!!
  • #578,727
  • Feb 18, 2021 1:14am Feb 18, 2021 1:14am
GU bulls will soon go to deep sleep

Many remember what I said before that good news for bears if price reaches monthly resistance 1.3900s early on as was good for bulls that price reached support 1.3560s early on, now we're still at mid-month, lot of time for nice retrace down.

GU bounced from the said support 1.3820s, now price should break and base below toward 1.3770-90, a base below there will take price for free fall to 1.3660-20 major support that will bounce it back upward for correction.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #578,728
  • Feb 18, 2021 1:24am Feb 18, 2021 1:24am
Quoting MoneyZilla
Pray not for the gold to pull back up, cause, if this happens, Pound is going to the Moon...

Although sells (Buying the USD, actually) does make sense now (two short days in a row), still need to quote this again.
One day, eventually, gold will start crawling up... and then?
Probably, Apollo 11 will start the countdown?
Maadik Hugiis. IQ 69.
  • #578,729
  • Feb 18, 2021 1:35am Feb 18, 2021 1:35am
Quoting Sang.Real
{quote} THOR arrived pre London Open ? {image} That's early..
you can wait , sometimes they do a fake move before , maybe it's for the best
yes yes yes
  • #578,730
  • Feb 18, 2021 1:37am Feb 18, 2021 1:37am
Quoting pipcenturion
{quote} I think 14 periods is not statistically significant to use in determining the average daily range of any market instrument. I personally use 260 periods because in one year, we have 52 weeks with 5 trading days each week. So 52 * 5 = 260 The 14 period ADR shows 40 pips as daily average while the 260 period ADR shows 75 pips as daily average range. We should also remember that GBP is the counter currency here which means that each pip will be worth about 1.38 USD If we put this pip value into consideration, the 260 period ADR will be more...
Please don't be offended - is GBP the base or counter currency?
  • #578,731
  • Feb 18, 2021 1:45am Feb 18, 2021 1:45am
Quoting Glorybound
{quote} Please don't be offended - is GBP the base or counter currency?
GBP is the counter/quote currency for the EURGBP pair.
  • #578,732
  • Feb 18, 2021 1:48am Feb 18, 2021 1:48am
Quoting Sang.Real
{quote} Why do you write with negative vibes here ? You can see all other members here, write in proper ways and direction to help fellow traders. First of all, just to let you know " I'm Newbie, that doesn't mean I'm stupid ". When, I admit my losses, that doesn't mean I'm a stupid trader. I just want to be honest ( not deleting any post that lose money) Secondly , I didn't accidently trade EUR/GBP, but take the challenge to choosing to trade the cross pair. ( just to learn the characteristic of those pair). Thirdly, if you have noting positive...
Ok no more stupid joke, sorry
assalamualaikum warahmatullahi wabarakatuh
  • #578,733
  • Edited 2:02am Feb 18, 2021 1:49am | Edited 2:02am
G/M, another sub 30day ader bearish day y/day, 23.6% 3450-3951 @ the lo...this now a prev 1hr/4hr sw lo zone down to it. tested at the top of it @ today's current lo and found buyers.

30day adr is now 94.

1hr below.
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Trader with an Edge.
  • #578,734
  • Feb 18, 2021 1:51am Feb 18, 2021 1:51am
Quoting steadyasitgo
{quote} ok no more stupid joke, sorry assalamualaikum warahmatullahi wabarakatuh
لَا حَوْلَ وَلَا قُوَّةَ إِلَّا بِٱللَّٰهِ ٱلْعَلِيِّ ٱلْعَظِيمِ (in full) =
la hawla wala quwwata illa billah (in short)
  • #578,735
  • Feb 18, 2021 1:52am Feb 18, 2021 1:52am
Quoting Moty
{quote} you can wait , sometimes they do a fake move before , maybe it's for the best
fakey fakey
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yes yes yes
  • #578,736
  • Feb 18, 2021 1:53am Feb 18, 2021 1:53am
[quote=mysterio;13415004]Out of any positions for now, this channel held perfectly, have to assume it's a flag for now and probably expect it to break up but not entering anything for now. If one of the edges coincides with a S/R,fib, pivot etc I will prob scalp it Coming up to the median point in a longer term ascending channel too so there is a possibility of going all the way down to 1.37ish

1.38650 looks good for a short imo
  • #578,737
  • Feb 18, 2021 1:55am Feb 18, 2021 1:55am
Folks, cable's starting to catch the top
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  • #578,738
  • Feb 18, 2021 1:57am Feb 18, 2021 1:57am
Too early to say but a breakout here would confirm a bullish flag for me.. any breakout for a channel this size on 5m/15m timeframe could be a false break so would wait for 1h/4h to break above and then maybe i'll buy when retested. Could easily tank from here though so its too early
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  • #578,739
  • Feb 18, 2021 2:00am Feb 18, 2021 2:00am
Quoting Moty
{quote} fakey fakey {image}
Hi Moty, Could you please share your indicators? - I'm pretty sure I setup the ones you sent previously but my Daily Pivot seems to be showing 1.38616 which is different to yours?
  • #578,740
  • Feb 18, 2021 2:05am Feb 18, 2021 2:05am
As I said, we should buy from dips
Damage
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