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Cable Update (GBPUSD)

  • #591,241
  • Apr 23, 2021 1:49pm Apr 23, 2021 1:49pm
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 29 KB
yes yes yes
  • #591,242
  • Edited 2:33pm Apr 23, 2021 1:54pm | Edited 2:33pm
Quoting mysterio
Looks very much like an ABCD in progress for next week-now did we make the low at 61.8 retrace or lower into the demand area 1.3779 {image}
Although looking at the Friday afternoon PA, maybe that 0.618 retrace was the end of the C leg after all. Would make more sense as a more significant level

This would take us really neatly up to supply at 1.41 next week

This is a very 'clean' ABCD with the legs in a very neat almost straight line, respecting the fibo level very closely so if we remain broken out of the channel then a sharp move up to 1.41 is very likely early next week. We have Euro broken out of a bull flag too sending dxy crashing so it's the perfect storm. Just watch out for a potential final push below 1.38 but it's seeming less likely
  • #591,243
  • Apr 23, 2021 2:30pm Apr 23, 2021 2:30pm
Quoting Sang.Real
GU If the Daily Candle closed (when nearing to closing time) appear to be like Inverted Hammer I will have to close all these trades. Will restart next week with new entry. Meanwhile, lets wait for the candle to develop and shows its true face. {image}

GU

Closing all scalping trade.

Very nice trade taken today. End with nice trades in hand.

Looking forward for bullish trend next week with the current daily set up.

Strong daily candle close expected in an hour. See chart for set up description.

Attached Image (click to enlarge)
Click to Enlarge Name: GU 143.jpg Size: 406 KB


Quoting mysterio
{quote} Although looking at the Friday afternoon PA, maybe that 0.618 retrace was the end of the C leg after all. Would make more sense as a more significant level This would take us really neatly up to supply at 1.41 next week
Yes bro, daily set up has shown his hand.

Looking forward for Mr. Spike Lee performance next week. (overdue)

We're going to see flying bull next week.

Attached Image
  • #591,244
  • Apr 23, 2021 2:35pm Apr 23, 2021 2:35pm
Quoting Sang.Real
{quote} GU Closing all scalping trade. Very nice trade taken today. End with nice trades in hand. Looking forward for bullish trend next week with the current daily set up. Strong daily candle close expected in an hour. See chart for set up description. {image} {quote} Yes bro, daily set up has shown his hand. Looking forward for Mr. Spike Lee performance next week. (overdue) We're going to see flying bull next week. {image}
Right on. Lots of classic TA lining up, W pattern, fib levels, ABCD etc. I will be shocked if we don't make a higher high early next week. What would be great is if we can get a nice pullback early on to get long on.

Congrats on your performance today too!
  • #591,245
  • Apr 23, 2021 2:42pm Apr 23, 2021 2:42pm
Quoting Bainbrito
{quote} Agree 100% with you and Benton. The Polish philosopher Alfred Korzybski said "The map is not the territory" To quote his Wikipedia page: "Korzybski maintained that humans are limited in what they know by (1) the structure of their nervous systems, and (2) the structure of their languages. Humans cannot experience the world directly, but only through their "abstractions" (nonverbal impressions or "gleanings" derived from the nervous system, and verbal indicators expressed and derived from...
Yes, your absolutely right, i love this piece you just wrote. Thanks Man
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #591,246
  • Apr 23, 2021 2:50pm Apr 23, 2021 2:50pm
Quoting Sang.Real
{quote} GU update position now don't feel like to pee in my pants anymore. May have to close all trades (except one) for the weekends. Will wait for the price progress. Have nice weekends all Thanks for your help. Appreciate all the view and comments Sincerely Sang Real {image}
Great Sang.Real!!

Next Week we will see flying bulls
  • #591,247
  • Apr 23, 2021 2:54pm Apr 23, 2021 2:54pm
Quoting shandt
{quote} I totally agree that mental clarity is a must for daily trading... Just out of curiosity: what kind of food or/and supplements would you recommend? (Maybe this should be another thread...) I'll appreciate if you could share some references ... Thanks!
Yes just like Bainbrito just said, i know about good sleep, Reduce Sugar Intake,
Foods such as nuts, avocados, coconut oil, olive oil, and wild salmon are high in healthy fats that can fight off brain fog and help you maintain your mental clarity between meals.

Being detached from trading outcome. I will have to start a thread on this tomorrow since it's another big discussion on it's own so also other traders can give their intake but now this is just few. Cheers
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #591,248
  • Apr 23, 2021 3:05pm Apr 23, 2021 3:05pm
Quoting sang.real
{quote} gu closing all scalping trade. Very nice trade taken today. End with nice trades in hand. Looking forward for bullish trend next week with the current daily set up. Strong daily candle close expected in an hour. See chart for set up description. {image} {quote} yes bro, daily set up has shown his hand. Looking forward for mr. Spike lee performance next week. (overdue) we're going to see flying bull next week. {image}
congratulations not only to you but to all other traders who put out their trades this week, win or lose, for those who had some losses
it may not have been your week, when its not yours is not yours there is nothing you can do, if you try harder you lose more. Let's just be hopeful and keep doing our best and also keep learning.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #591,249
  • Apr 23, 2021 3:27pm Apr 23, 2021 3:27pm
Quoting martinez1
{quote} Yes, your absolutely right, i love this piece you just wrote. Thanks Man
You're welcome! Thanks for opening the discussion, it's really interesting to think and talk about. I guess trading makes us vulnerable and to protect against that vulnerability it is tempting to buy into all kinds of fantasies which give the illusion of prediction and control that cloud the mind. It would be terrifying to realize the true extent of our vulnerability - 90% of traders wouldn't bother in the first place! - but paradoxically it is easier when things are kept simple rather adding multiple protective layers in the way of lagging indicators, fussy strategies and statistically questionable patterns. Wyckoff theory is all you need imao - price moves from one congestion zone to another, just wait for the move and join it! Maybe that's reducing things too much, and there's the Market Makers endless traps to dodge... but it would be boring otherwise!
  • #591,250
  • Apr 23, 2021 3:45pm Apr 23, 2021 3:45pm
Quoting mysterio
{quote} Right on. Lots of classic TA lining up, W pattern, fib levels, ABCD etc. I will be shocked if we don't make a higher high early next week. What would be great is if we can get a nice pullback early on to get long on. Congrats on your performance today too!
Actually, I still see an M as a process of forming the right H and S on D1. Prolly high may be 1.395 to 1.40 and possible leg down to 1.375 area. Finally the up shoot to 1.41 area. that's what i see. May be wrong
  • #591,251
  • Apr 23, 2021 3:48pm Apr 23, 2021 3:48pm
Quoting Sang.Real
{quote} GU Closing all scalping trade. Very nice trade taken today. End with nice trades in hand. Looking forward for bullish trend next week with the current daily set up. Strong daily candle close expected in an hour. See chart for set up description. {image} {quote} Yes bro, daily set up has shown his hand. Looking forward for Mr. Spike Lee performance next week. (overdue) We're going to see flying bull next week. {image}
Fabulous mate. Cheers
  • #591,252
  • Edited Apr 24, 2021 7:15am Apr 23, 2021 4:11pm | Edited Apr 24, 2021 7:15am
Attached Image (click to enlarge)
Click to Enlarge Name: 500 GBPUSD Weekly.png Size: 41 KB
we see significant side after up
10 week close this week is Doji ,after shaven into res last 10
very big picture is top of box
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Click to Enlarge Name: 500 GBPUSD 10 weeks.png Size: 50 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #591,253
  • Apr 23, 2021 4:14pm Apr 23, 2021 4:14pm
My bullish inclination sees a GBPUSD buy zone below
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDOLLARDaily.png Size: 26 KB
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Compulsions can be hard to resist
  • #591,254
  • Apr 23, 2021 11:12pm Apr 23, 2021 11:12pm
What a crazy week that was :-) My EA survived it just fine with some profits! Thanks for all the input during this week, it was a fun ride ;-)
  • #591,255
  • Apr 23, 2021 11:23pm Apr 23, 2021 11:23pm
Quoting trumps
My bullish inclination sees a GBPUSD buy zone below {image} {image} {image} {image}
yes , me also see that , last bus stop for bear below that liquidation, double bottom should do next big mover
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #591,256
  • Apr 24, 2021 12:24am Apr 24, 2021 12:24am
Quoting Bainbrito
{quote} Wyckoff theory is all you need imao - price moves from one congestion zone to another, just wait for the move and join it! Maybe that's reducing things too much, and there's the Market Makers endless traps to dodge... but it would be boring otherwise!
Just another theory amidst the many. Easy to read in hindsight.
  • #591,257
  • Apr 24, 2021 1:06am Apr 24, 2021 1:06am
On Wednesday, GU will have bullish patterns after hitting 1.36800
Just timing experiment It's my new project LOL
  • #591,258
  • Apr 24, 2021 3:08am Apr 24, 2021 3:08am
Quoting Nala66
{quote} Just another theory amidst the many. Easy to read in hindsight.
That’s a fair point, I regret saying it is all you need, a bit flippant, especially in context of my previous post which was about the dangers of being attached to a particular interpretation. There are infinite ways to perceive or construe a situation with varying consequences and a trader has to frame what they determine to be relevant and what can be safely deemed irrelevant without serious repercussions. I guess it doesn’t matter what you do, so long as it works. I find Wyckoff theory is useful for live trading but that’s because I trade breakouts primarily and tend to frame price action similarly, but I’m not a slave to any theory and should have worded that more carefully.
  • #591,259
  • Apr 24, 2021 3:14am Apr 24, 2021 3:14am
so , it was an up and down day last Friday
it was a rangebound all right
not exactly between what i expected , more between the 50 % retracement and the daily open line .
so Monday should be an interesting day
it will be or a drop to 1.38232 and below , or a journey back to 1.4
dx still bearish in the overall trend so we need to take gu as bullish
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: dx.png Size: 36 KB
yes yes yes
  • #591,260
  • Apr 24, 2021 3:51am Apr 24, 2021 3:51am
Went to relax yesterday when price was at 1.3860s, to check it today and see it made 1.3890 again before market close, well if expected that, could had set a pending sell order there for free money
MMs insisted to keep pushing the pair higher back to my said higher weekly resistance/support(switching) 1.3880s talked about before than closing it weak at lower weekly one 1.3850s, alongside EU forcefully pushed to the long dream target 1.21
Still I see the weekly close non convincing to be bullish, close is even below 1.3880s at 1.3876 and below the bearish trend line too.
It all depends on weekly open that will clear the picture, everything is possible but will not be surprised after such forceful out of the blue move up that I call unnecessary empty movement by speculators just to reach a goal and run..., to see a gap open lower to close it..
Anyways, lets wait for weekly open to determine market next step, also we're near monthly close that ain't closing higher IMO
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
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