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Cable Update (GBPUSD)

  • #579,501
  • Feb 20, 2021 6:11am Feb 20, 2021 6:11am
Quoting Ehsank78
Boris Johnson's government is 'gaslighting' Britain about the realities of Brexit, critics say https://edition.cnn.com/2021/02/20/e...ntl/index.html
Combine this with an expensive GBP.
  • #579,502
  • Feb 20, 2021 6:29am Feb 20, 2021 6:29am
As I said, I am bad at wave count. My chart is like a 3 year old's scribble compared to your artwork.

I pull back for general structure and zoom in for taking trades up to a 5M charts.

Quoting Coreg2004
{quote} Ilvez, different time frames...mine was 15M your 4H, ...How did you determine on your 4H chart the end of W_5? The dollar has room to drop further... {image}
  • #579,503
  • Feb 20, 2021 6:49am Feb 20, 2021 6:49am
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 92 KB


for this week AUD, NZD, GBP, and CAD are still the strongest and USD, CHF, JPY are still the weakest, the easiest strategy is to BUY at the Support level
  • #579,504
  • Feb 20, 2021 7:02am Feb 20, 2021 7:02am
Quoting suluah
{image} for this week AUD, NZD, GBP, and CAD are still the strongest and USD, CHF, JPY are still the weakest, the easiest strategy is to BUY at the Support level
Attached Image (click to enlarge)
Click to Enlarge Name: SmartSelect_20210220-140024_Chrome.jpg Size: 110 KB
  • #579,505
  • Feb 20, 2021 8:24am Feb 20, 2021 8:24am
Nice posts 'Headland'

:0)
  • #579,506
  • Feb 20, 2021 12:03pm Feb 20, 2021 12:03pm
Quoting TerpFan2
{quote} Hey Coreg, Great to see you in here, -Great charts as always... I'm gonna go off Moty's quote today: "don't try to tell the market where to go , let him tell you." So i went with the "Short" at what 'believed to be end of wave, -and it was, for that set... Something seemed "Missing" though, -like was there one more little 5th wave, On the end of that thing, or what? Also, -As you're noting with "DollA" weakness, that doesn't help things, For the Pound to drop. Since i couldn't get a solid Sell-Off today, and the Pound wanted to "Strut it's...
Jeff, thanks for the kind words...Look at the chart below which originally I posted on October 21, 2020...
https://www.forexfactory.com/thread/...5#post13224155
and please tell me if I told the market what to do or the market just has been cooperating with my forecasting?... because that's what I do, forecasting potential market moves based on my method of trading. If something is unclear please ask the questions I am always ready to answer them to the best of my ability. Of course, if something I post is useless for you just ignore it...
Attached Image (click to enlarge)
Click to Enlarge Name: GU 10.21.daily.c.png Size: 117 KB
Always trade your own plan...I don't provide trading signals.
  • #579,507
  • Feb 20, 2021 12:15pm Feb 20, 2021 12:15pm
Quoting Ilvez
As I said, I am bad at wave count. My chart is like a 3 year old's scribble compared to your artwork. I pull back for general structure and zoom in for taking trades up to a 5M charts. {quote}
Ilvez, give yourself some time to learn and test the method of trading/ your forecasting if this is something that you would like to go with. I do the same thing...First I do analysis on a 30M chart (setup chart) then I zoom in to a 3-5M chart (trigger chart) and enter the trade...Good luck with your trading.
Always trade your own plan...I don't provide trading signals.
  • #579,508
  • Feb 20, 2021 12:31pm Feb 20, 2021 12:31pm
one thing is for sure, as long as there are waves, there will be trends. and as long as there are trends, we can profit.
  • #579,509
  • Feb 20, 2021 1:57pm Feb 20, 2021 1:57pm
Plotted CoT data, 2018 - present.
Attached Image (click to enlarge)
Click to Enlarge Name: COT.png Size: 77 KB

A very interesting period from the beginning of 2020. Draw your own conclusions.

Correlations between "Long" and "Price" curves:
2018 - 2020: 0.771
2020 - Feb, 16: 0.224
2018 - Feb, 16: 0.616
Air force
  • #579,510
  • Feb 20, 2021 2:10pm Feb 20, 2021 2:10pm
Quoting Coreg2004
{quote} L.m, very good eyes...I dropped this level because if GU takes out the zone for bearish shark there is a strong chance it will go to the bearish crab pattern zone...but I am not so ahead of myself... let's take it to step by step...now my insanity is fully exposed on the daily chart... {image}
V.G. -VERY Good Stuff Coreg...
The more i see trading on these bigger TF's the more it all make's sense thru these
Sideways patterns (like we had a week or two or three ago), where it was Up/Down/Sideways Mayhem.

Beautiful Work here Coreg,
Yeah i've done a decent Job, calling end of Wave-5's on Giant Wave three, then Wave-3 (Inside of Wave-5)...
But some of them, towards the end here, i'm thinking are "it", and they are Wave-5, in it's finality.
(Again, not trying to brag on Pipfarm so much), -But the Fact is the Fractals in the Higher TF's Monthly & Weekly,
Have Kept us Begging for higher. -They have been the only thing helping me to see the Ball Game,
More clearer.

Good Work here, All my Very Best Coreg,
Thanks for sharing it... Good Stuff,
My Best Coreg,

Jeff
I will work to Objectively Identify my Edges
  • #579,511
  • Feb 20, 2021 2:49pm Feb 20, 2021 2:49pm
1.40xx~ 1.20xx.
range.
  • #579,512
  • Feb 20, 2021 10:12pm Feb 20, 2021 10:12pm
Quoting entheos
1.40xx~ 1.20xx. range.
Yup. Looks to me like a Wave 3 if you're counting Elliot waves. It retraced at exactly the 161.8 level. This chart I'm showing is the weekly. You can't really tell what the bigger pattern is on the monthly, aside from a bullish indication. But this is a day trader short position.......a swing trader long.
Attached Image (click to enlarge)
Click to Enlarge Name: 634f8c0f1e8cba0dc837f3924ab8442e.png Size: 92 KB
  • #579,513
  • Feb 21, 2021 2:37am Feb 21, 2021 2:37am
INFORMATIONAL UPDATE

*Monthly RSI now reads 63, previous time this happened was January to July 2014 where price traded at 1.7190 followed by low of 1.5485 in December 2014 (1700 pips decline)

*Weekly RSI now reads 71 previous time this happened was March/April 2018 (RSI 74) where price traded at 1.4375 followed by low of 1.2475 in December 2018 (1900 pips decline)

*Daily RSI now reads 72 previous time this happened was June 2020 where price traded at 1.2812 followed by low of 1.2250 same June 2020 (562 pips decline)

IMMEDIATE BIAS
Possible top 1.4050/1.4100
Possible drop 1.3650/1.3600
Duration between 22/02/2021 to 08/04/2021

MEDIUM/LONG TERM BIAS
MARCH 2021 - JULY 2021 anticipated price movement between 1.4300 - 1.3600

AUGUST 2021 - DECEMBER 2021 anticipated price movement 1.4200 - 1.2800.

Strictly informational update with no obligation to follow.
Data + Stat + Risk/Emotions Management
  • #579,514
  • Feb 21, 2021 4:27am Feb 21, 2021 4:27am
what I hope is GU rise to 1.45 or even 1.50 asap to wipe out all you guys. Let market teach what is trading for you guys
Damage
  • #579,515
  • Feb 21, 2021 4:29am Feb 21, 2021 4:29am
Quoting abconqq7
what I hope is GU rise to 1.45 or even 1.50 asap to wipe out all you guys. Let market teach what is trading for you guys
Very probable as the price action and indicators are pointing long, especially on the longer time frames :-)
  • #579,516
  • Feb 21, 2021 4:41am Feb 21, 2021 4:41am
We have a nice convergent areas: SD e Fibonacci Reversal ZOne

A good entry LONG seems to be area .3989/.3966
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 54 KB
  • #579,517
  • Feb 21, 2021 4:51am Feb 21, 2021 4:51am
Quoting Georginson
INFORMATIONAL UPDATE *Monthly RSI now reads 63, previous time this happened was January to July 2014 where price traded at 1.7190 followed by low of 1.5485 in December 2014 (1700 pips decline) *Weekly RSI now reads 71 previous time this happened was March/April 2018 (RSI 74) where price traded at 1.4375 followed by low of 1.2475 in December 2018 (1900 pips decline) *Daily RSI now reads 72 previous time this happened was June 2020 where price traded at 1.2812 followed by low of 1.2250 same June 2020 (562 pips decline) IMMEDIATE BIAS Possible top...
Thank you Mr George.... Cheers .
It is all about the foreign exchange market.
  • #579,518
  • Feb 21, 2021 5:22am Feb 21, 2021 5:22am
Quoting abconqq7
what I hope is GU rise to 1.45 or even 1.50 asap to wipe out all you guys. Let market teach what is trading for you guys
Such sweeet words, why does he/she think that everyone on here is short, pretty sure a sales pitch is coming up soon as my scammerdar is through the roof, calls himself professional full time trader and hopes the market will reach a target , seen so many of these come and go, hopefully gone sooner rather than later.
  • #579,519
  • Feb 21, 2021 7:06am Feb 21, 2021 7:06am
Quoting abconqq7
what I hope is GU rise to 1.45 or even 1.50 asap to wipe out all you guys. Let market teach what is trading for you guys
I have my doubts that you are even trading
  • #579,520
  • Feb 21, 2021 7:23am Feb 21, 2021 7:23am
Quoting abconqq7
what I hope is GU rise to 1.45 or even 1.50 asap to wipe out all you guys. Let market teach what is trading for you guys
snakeless assumption
My observation may be wrong but intent correct. Stay calm!
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