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Cable Update (GBPUSD)

  • #581,041
  • Edited 2:31pm Feb 27, 2021 2:02pm | Edited 2:31pm
Quoting Bones
I can tell 100% 10 years looking at this with my eye thats not dark cloud and it matters {image}
Yeeeaaas, last Monday open with a gap up and weekly candle covers just a little bit >50% of previous candle, sooo it can 100% be recognized as dark cloud. Look more closely.
Very complicated.

Shooting star? Why not. 2 in 1
Air force
  • #581,042
  • Feb 27, 2021 2:14pm Feb 27, 2021 2:14pm
Inserted Video
  • #581,043
  • Feb 27, 2021 2:22pm Feb 27, 2021 2:22pm
[quote=Moty;13430671]I AM PLANNING TO SWITCH to short at the start of next trading week piercing bearish candle {image} {image}[/quote

Moty,

The trend is strongly positive on this. Why would you want to short rather than wait for an entry to be long? What makes the closing candle so important so as to put a trade on?
  • #581,044
  • Feb 27, 2021 2:33pm Feb 27, 2021 2:33pm
[quote=srvivethrive;13430687]
Quoting Moty
I AM PLANNING TO SWITCH to short at the start of next trading week piercing bearish candle {image} {image}[/quote Moty, The trend is strongly positive on this. Why would you want to short rather than wait for an entry to be long? What makes the closing candle so important so as to put a trade on?
o.k
i will exit and enter short at the break of last weekly low
yes yes yes
  • #581,045
  • Feb 27, 2021 3:00pm Feb 27, 2021 3:00pm
[quote=Moty;13430691]
Quoting srvivethrive
{quote} o.k i will exit and enter short at the break of last weekly low
Sounds like a good plan. I liked it when you used DXY as an indicator. I wish you luck, my friend.
  • #581,046
  • Feb 27, 2021 5:23pm Feb 27, 2021 5:23pm
Quoting W0lfram
{quote} Yeeeaaas, last Monday open with a gap up and weekly candle covers just a little bit >50% of previous candle, sooo it can 100% be recognized as dark cloud. Look more closely. Very complicated. Shooting star? Why not. 2 in 1
sorry
it can't be 2 in one,
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #581,047
  • Feb 27, 2021 6:44pm Feb 27, 2021 6:44pm
Quoting Bones
{quote} sorry it can't be 2 in one,
You are right again, it can't be... Shooting star. Lower wick is 47% of the body

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20210228-025125.jpg Size: 52 KB

Simple enough for you?
Air force
  • #581,048
  • Edited 8:34pm Feb 27, 2021 7:53pm | Edited 8:34pm
Quoting W0lfram
{quote} You are right again, it can't be... Shooting star. Lower wick is 47% of the body {image} Simple enough for you?
I would forget about where your getting those percentages ,as I say its really not complicated .Just go by eye
It's not perfect ,but the long wick north ,small body gives its name. Most things are not perfect in the real world like a book.
All I can say is
Dark cloud is 2 candle ,
then
Shooting star is 1 candle ,
you would be right in saying thats 100% more candle formation in dark cloud since you like measuring things in percentage this is the main reason not to confuse the name.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2021-02-28 at 02.24.46.png Size: 503 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #581,049
  • Edited 2:36am Feb 28, 2021 2:08am | Edited 2:36am
Quoting Bones
{quote} I would forget about where your getting those percentages ,as I say its really not complicated .Just go by eye It's not perfect ,but the long wick north ,small body gives its name. Most things are not perfect in the real world like a book. All I can say is Dark cloud is 2 candle , then Shooting star is 1 candle , you would be right in saying thats 100% more candle formation in dark cloud since you like measuring things in percentage this is the main reason not to confuse the name. {image}
One thing must be perfect like in the schematic illustration you googled, but second shouldn't, bc 'it's real world, you know'?
Pics from google is a heavy argument, I can't handle it.
why didn't you show this picture, for example?
Attached Image (click to enlarge)
Click to Enlarge Name: download.jpg Size: 9 KB

Patterns have descriptions by which they are identified, surprise-surprise.
The current formation meets all the requirements to be called a dark cloud. So why it's not?
Do you have some (serious) cognitive issues?

You can call it shooting star, I don't mind.
Air force
  • #581,050
  • Feb 28, 2021 2:24am Feb 28, 2021 2:24am
Guys, what are you arguing about?
Each broker has his own daily closurebecause of different time zones they work in.
Just take a look at the Fridays pattern on IG (bearish engulfing) and some another broker will have shooting star.
Thats why I never give a f**k about daily patterns on forex (same with H4 timeframe).
  • #581,051
  • Edited 2:42am Feb 28, 2021 2:25am | Edited 2:42am
Quoting W0lfram
{quote} One thing must be perfect like in the schematic illustration you googled, but second shouldn't, bc 'it's real world, you know'? Pics from google is a heavy argument, I can't handle it. why didn't you show this picture, for example? {image} Patterns have descriptions by which they are identified, surprise-surprise. The current formation meets all the requirements to be called a dark cloud. So why it's not? Do you have some (serious) cognitive issues? You can call it shooting star, I don't mind.
There is a mistake on the picture you posted.

Written : Little to No Upper Shadow
Should be : Little To No Lower Shadow


Hehe you deleted the picture

Anyway here is something to to read about the next week possible direction:

GBP/USD REVERSAL SETS IT UP FOR MORE SELLING
https://www.dailyfx.com/forex/techni...ses-Ahead.html

But remember anybody can be wrong
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #581,052
  • Feb 28, 2021 2:37am Feb 28, 2021 2:37am
Quoting NotAtrader
{quote} There is a mistake on the picture you posted. Written : Little to No Upper Shadow Should be : Little To No Lower Shadow
yes, found another one. replaced.
Air force
  • #581,053
  • Feb 28, 2021 2:43am Feb 28, 2021 2:43am
Can't breathe
Attached Image

Yep, sweet shooting star on 2W TF
Attached Image (click to enlarge)
Click to Enlarge Name: download (3).png Size: 36 KB
Air force
  • #581,054
  • Feb 28, 2021 2:50am Feb 28, 2021 2:50am
Quoting W0lfram
Can't breathe{image}
This should make it clear to anyone how a piercing pattern and a dark cloud pattern look and how they can be translated to a hamar and a shooting star into a bigger timeframe.
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #581,055
  • Feb 28, 2021 6:01am Feb 28, 2021 6:01am
Monthly chart
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 46 KB
H4
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.sH4.png Size: 45 KB
  • #581,056
  • Feb 28, 2021 8:05am Feb 28, 2021 8:05am
Quoting W0lfram
Can't breathe{image} Yep, sweet shooting star on 2W TF{image}
What it this red zone that you marked?
WT
  • #581,057
  • Feb 28, 2021 8:38am Feb 28, 2021 8:38am
  •  Rgkc
  • | Joined Dec 2010 | Status: Never stop learning about forex! | 419 Posts
Quoting SCopier
Monthly chart {image}H4 {image}
Nice view
Studing..............
  • #581,058
  • Feb 28, 2021 8:55am Feb 28, 2021 8:55am
Quoting Bartosz77
{quote} What it this red zone that you marked?
Trying to guess March range
https://www.forexfactory.com/thread/...9#post13430089
Air force
  • #581,059
  • Feb 28, 2021 9:51am Feb 28, 2021 9:51am
IMO, the 300pips movement above 1.3920s to 1.4230s must not had happened on monthly candle.
It's like an empty gap that got filled in some way to drive price upward, it was unmeaningful!
This is why price collapsed down closing all that gap in only 36 hours to the trading month end.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #581,060
  • Feb 28, 2021 10:00am Feb 28, 2021 10:00am
Quoting KingLi
{quote} Do you think it will bounce back? because it looks like it will keep falling from there. Thanks
It did a bit, but i'm waiting for lower for my next buy, its highly likely I think to make it down to 1688 now. Just watch the dollar it's looking bullish
Attached Image (click to enlarge)
Click to Enlarge Name: cable 2.jpg Size: 99 KB
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