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Cable Update (GBPUSD)

  • #585,861
  • Mar 24, 2021 4:40am Mar 24, 2021 4:40am
a prev 1hr minor sw lo zone = prev supp = pot sbr @ the current pullback hi. 1hr below.

You wonder whether price may test bottom of the previous 4017-3778 range or did it already do that in the 3751-3803 pullback shown on 1hr below - after the 1st b/o?
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Trader with an Edge.
  • #585,862
  • Mar 24, 2021 4:47am Mar 24, 2021 4:47am
Quoting gespiri
Here's another tip I learned from Roszey (and I understand why he doesn't post here that often anymore) and Georginson....... This pair, on average has an AVERAGE WEEKLY RANGE of 200p, sometimes 250p. Having said that, it has already hit this range at 1.3678, so naturally it has to bounce. However, we are only on a Wednesday so 1 of 2 scenarios might be in play: 1) this will range between 3678 - 3800, or 2) this will eventually break down to 3650 this week You decide for you accounts and practice good MM. I'm out!

It depends which averages you use. I for eg use a 1/4 year 13weeks for the awr...see below and it is only @ 85% so far this week...also it does not 'have' to bounce there are no absolutes- even in range analysis...it's just about probabilities.
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Trader with an Edge.
  • #585,863
  • Mar 24, 2021 4:49am Mar 24, 2021 4:49am
Updated TP area now around 13760-80 s/l at b/e
Insane in the Brain..
  • #585,864
  • Mar 24, 2021 4:51am Mar 24, 2021 4:51am
Morning,
not a bad day start.
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If you don't know how to earn money, don't loose it.
  • #585,865
  • Mar 24, 2021 4:51am Mar 24, 2021 4:51am
I bought at 1.3713, TP mentioned before. SL at BE

Quoting BeeTogether
Updated TP area now around 13760-80 s/l at b/e
GL, back in the game? Cut the loss ?
  • #585,866
  • Mar 24, 2021 4:58am Mar 24, 2021 4:58am
Quoting mysterio
I bought at 1.3713, TP mentioned before. SL at BE {quote} GL, back in the game? Cut the loss ?
yup! Took a 7k hit but with careful and scalp trading if need be I should be able to recover that in about 3 weeks. And damn have I missed trading lol
Insane in the Brain..
  • #585,867
  • Mar 24, 2021 4:59am Mar 24, 2021 4:59am
Quoting BeeTogether
{quote} yup! Took a 7k hit but with careful and scalp trading if need be I should be able to recover that in about 3 weeks. And damn have I missed trading lol
No worries you'll make it back in 3 days!
  • #585,868
  • Mar 24, 2021 5:01am Mar 24, 2021 5:01am
... solid 1hr bullish close.
Trader with an Edge.
  • #585,869
  • Mar 24, 2021 5:02am Mar 24, 2021 5:02am
Quoting MoneyZilla
{quote} This is not the problem. 70 pips of a draw-down is OK. I think for most. I will start making calls exactly in the style Georgie is making. One call for the day traders (UP) and one call for the swing traders (DOWN). Then will point out the call that made it right! I think, this is the real problem... Just watch me how good I can also be, with my daily and swing calls!
This is wrong.
You can't backtest emotions.
  • #585,870
  • Mar 24, 2021 5:02am Mar 24, 2021 5:02am
Quoting mysterio
{quote} No worries you'll make it back in 3 days!
3 days I wish lol. Aiming for circa 500-700 a day. But naturally if I catch a strong trend line then boom it can be sooner
Insane in the Brain..
  • #585,871
  • Mar 24, 2021 5:07am Mar 24, 2021 5:07am
Quoting BeeTogether
{quote} yup! Took a 7k hit but with careful and scalp trading if need be I should be able to recover that in about 3 weeks. And damn have I missed trading lol
Sometimes it feels good just to be put out of one's misery. Sorry for the loss, though.
  • #585,872
  • Mar 24, 2021 5:08am Mar 24, 2021 5:08am
New LOWS loading up. I'd be careful with longs at this point.
No such thing as oversold or overbought in my book

SS
  • #585,873
  • Mar 24, 2021 5:09am Mar 24, 2021 5:09am
Quoting JayBag
New LOWS loading up. I'd be careful with longs at this point. No such thing as oversold or overbought in my book SS
Great call on price reaching 1.37 Jay
  • #585,874
  • Mar 24, 2021 5:11am Mar 24, 2021 5:11am
Quoting Kaysole
{quote} Sometimes it feels good just to be put out of one's misery. Sorry for the loss, though.
True, the longer that trade took to even look like retracing for minimal impact the more I was thinking to hell with it I could have been in plus money by now. Took the plunge last night feel relieved to be back in greens even though I have a hefty climb up
Insane in the Brain..
  • #585,875
  • Mar 24, 2021 5:13am Mar 24, 2021 5:13am
Quoting JayBag
New LOWS loading up. I'd be careful with longs at this point. No such thing as oversold or overbought in my book SS
its gearing up for one more push to 13750 area before the table cloth being slipped from under its feet.
Insane in the Brain..
  • #585,876
  • Mar 24, 2021 5:15am Mar 24, 2021 5:15am
Quoting BeeTogether
{quote} True, the longer that trade took to even look like retracing for minimal impact the more I was thinking to hell with it I could have been in plus money by now. Took the plunge last night feel relieved to be back in greens even though I have a hefty climb up
All you have to do is BeePatient. (Sorry, I couldn't resist)
  • #585,877
  • Mar 24, 2021 5:17am Mar 24, 2021 5:17am
Quoting BeeTogether
{quote} its gearing up for one more push to 13750 area before the table cloth being slipped from under its feet.

If she stays in a range, for another week or two? Careful not to get caught at the other side, this time around with a hanging sell...
Maadik Hugiis. IQ 69.
  • #585,878
  • Mar 24, 2021 5:21am Mar 24, 2021 5:21am
Quoting Kaysole
{quote} Great call on price reaching 1.37 Jay
Thanks Kay... I am looking forward to a much lower target. Might take some time but I have my eyes on it
  • #585,879
  • Mar 24, 2021 5:24am Mar 24, 2021 5:24am
Quoting BeeTogether
{quote} its gearing up for one more push to 13750 area before the table cloth being slipped from under its feet.
that got me when I think about such a scenario.

Well, I think we are about to continue the bear move. But if we don't, we might as well expect 1.3800 round number which is also the BO point.
  • #585,880
  • Mar 24, 2021 5:29am Mar 24, 2021 5:29am
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yes yes yes
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