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Cable Update (GBPUSD)

  • #598,541
  • May 30, 2021 12:39pm May 30, 2021 12:39pm
Quoting Bainbrito
{quote} Thank you for sharing, that interview was fascinating and has intrigued me about trading the spread. Rambo is an awesome human being and trader! I am currently reading The Master and His Emissary by Iain McGilchrist and love Rambo’s descriptions of listening to the market and being in the now moment; TMAHE is about our split brains and how we’ve come to this misguided belief that the left brain is superior to the right whereas thought starts in the right brain (The Master) is then given to the left brain which acts as emissary, finding details,...
John"Rambo" Moulton was the hero of a documentary "Bulls vs Bears" made 20+ years ago about traders of Sydney Future Exchange.If you want to see him in action and all his story , is very very interesting.
Inserted Video
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #598,542
  • May 30, 2021 1:17pm May 30, 2021 1:17pm
Quoting Pipa1
{quote} John"Rambo" Moulton was the hero of a documentary "Bulls vs Bears" made 20+ years ago about traders of Sydney Future Exchange.If you want to see him in action and all his story , is very very interesting. https://www.youtube.com/watch?v=kHawmZbapjU&t=17s
Cheers, that looks great
  • #598,543
  • Edited 4:17pm May 30, 2021 1:36pm | Edited 4:17pm
Quoting Pipa1
{quote} John"Rambo" Moulton was the hero of a documentary "Bulls vs Bears" made 20+ years ago about traders of Sydney Future Exchange.If you want to see him in action and all his story , is very very interesting. https://www.youtube.com/watch?v=kHawmZbapjU&t=17s
“I traded 18,000 lots yesterday... about 13% of the market, which, um, is probably larger than it should be. I’m not comfortable trading that, um, large, size... it could be a sign that I might be over-trading.”

  • #598,544
  • May 30, 2021 1:59pm May 30, 2021 1:59pm
Quoting Spice
{quote} Really ? Guarantee with what ? There's no is sure thing in this market i think..

Are you sure that there's no sure thing in the market?
  • #598,545
  • May 30, 2021 2:30pm May 30, 2021 2:30pm
30 mins to market open bring it on
Insane in the Brain..
  • #598,546
  • May 30, 2021 2:49pm May 30, 2021 2:49pm
Small gap down on the open around 10 pips.
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #598,547
  • May 30, 2021 3:06pm May 30, 2021 3:06pm
monday is holiday, come back next day please. bbq day
  • #598,548
  • May 30, 2021 3:07pm May 30, 2021 3:07pm
Attached Image (click to enlarge)
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Air force
  • #598,549
  • Edited 3:22pm May 30, 2021 3:10pm | Edited 3:22pm
2011 - 2020 January To June Distance

2011
Low 1.5406 - High 1.6744 = 1338 pips range
2012
Low 1.5235 - High 1.6300 = 1065 pips range
2013
Low 1.4828 - High 1.6338 = 1510 pips range
2014
Low 1.6252 - High 1.7114 = 862 pips range
2015
Low 1.4565 - High 1.5929 = 1364 pips range
2017
Low 1.1986 - High 1.3047 = 1061 pips range
2018
Low 1.3049 - High 1.4376 = 1327 pips range
2019
Low 1.2423 - High 1.3381 = 958 pips range

Minimum - 862 pips (Year 2014)
Average - 1186 pips
Maximum - 1510 pips (Year 2013)

2021 so far
1.3450 - 1.4241 = 791 pips range

* Years 2016 and 2020 were ommitted because of Brexit Referendum and Covid 19 break out months which were included between January to June of those years.

From the above statistics, it can be deduced that year 2021 so far being 791 pips range still has additional 71 pips to equal the minimum January to June Distance of Year 2014 being 862 pips range

Scenario Break down
Current 2021 Low (1.3450) + 862 pips = 1.4312
Current 2021 High (1.4241) - 862 pips = 1.3379

This equation means either 1.4312 or 1.3379 must be touched this June if this year is to respond to the above range equation.

Subtle clues
* The current price being 1.4188 is much closer to 1.4312 and much farther from 1.3379

* Most times, even if the month has to end bearish, the candle will most likely come with an upper shadow before deep reversal, which indirectly implies that whatever opening price we see in June will have higher price movement before any fall (if ever)

* Year 2013 and Year 2020 have highest January to June ranges and Year 2014 unsurprisingly came with lowest January to June range (862 pips)

Year 2013 ended the year aggressively bullish, and continued it's bullishness till July 2014, Year 2020 also ended the year aggressively bullish and has carried the bullish momentum to year 2021.

Another observation is that January to May Range of Year 2014 being 740 pips is very similar to this current year 2021 January to May Range being 791 pips so far.

Years 2013/2014 price action and distance covered is so identical to years 2020/2021 price action and distance covered.

There is a strong case of possible 1.4312/1.4370 this June before a possible crash to 1.3600 and then 1.2800 at the end of year 2021.

This research work is for informational purposes and not in anyway trade advise. Trade with utmost caution.

Cheers,
George.
Data + Stat + Risk/Emotions Management
  • #598,550
  • Edited 10:05pm May 30, 2021 3:42pm | Edited 10:05pm
As a medium-term swing trader, I advise caution in trading GBPUSD until price action gives directional clarity, perhaps after the early days of trading this week. Here's why. On the daily time frame, although the technical market structure is still bullish, the market operation is in a sideways mode around the lower boundary of the 1.42220/1.43750 multi-year horizontal resistance seen on the monthly time frame. Caution is advised until price action gives a directional clarity,

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #598,551
  • May 30, 2021 5:37pm May 30, 2021 5:37pm
Hope you all had a good weekend. I spent most of my time resting in the sun

Had to get up to verify a new long-term setup. Another long of course.

Quoting mtako
New long-term setup, based on 4H pullback + strength of reversal. Buy stop 4204. Cancelled if 4190 touched before. Happy weekend all take good care life is fragile !!
Was cancelled Friday. Conditions still intact. Slight updates : adaptation to Fridays last moves and todays first = buy stop at 4192. Price now is 4184. Buy stop cancelled if 4150 is touched before. If goes down first, need a clean rejection of 4160s or probabilities go down too much for this setup as it is probably still just ranging, extending the risk... Going back to beddddddddd

Wish you all a very good week !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #598,552
  • May 30, 2021 8:07pm May 30, 2021 8:07pm
cable will go down, question is how far, how hard & when, once its clearer it will be clearer!!, aussie is worth an eyeball, monthly, obvious !!!!!
If you are new to Forex? Say Goodbye to your account!!
  • #598,553
  • May 30, 2021 8:11pm May 30, 2021 8:11pm
Quoting KiwiTrada
cable will go down, question is how far, how hard & when, once its clearer it will be clearer!!, aussie is worth an eyeball, monthly, obvious !!!!!
uj daily, fridays candle should be respected/ noted
If you are new to Forex? Say Goodbye to your account!!
  • #598,554
  • May 30, 2021 8:47pm May 30, 2021 8:47pm
Quoting kris89
as i know if price RT the 1.41900 and failed on monday ill dive with it with tight SL , as my view still dip and dip as the 1.42000- 42200 hold like remind me of level 1.40000 back there
still in my mind
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #598,555
  • May 30, 2021 9:17pm May 30, 2021 9:17pm
Quoting KiwiTrada
{quote} eu @ ground zero support previous daily and 4hr low ans LTL of falling wedge with additional prvious 4hr and daily low approx 1 2159 big zones will be tough but brit open in 50 mins may provide fuel (super gas required) {image}

Hello Bro, Please I sent you a PM but no response
  • #598,556
  • May 30, 2021 9:17pm May 30, 2021 9:17pm
Quoting KiwiTrada
cable will go down, question is how far, how hard & when, once its clearer it will be clearer!!, aussie is worth an eyeball, monthly, obvious !!!!!
Hello Bro, please check your DM
  • #598,557
  • Edited 9:33pm May 30, 2021 9:20pm | Edited 9:33pm
Quoting KiwiTrada
cable will go down, question is how far, how hard & when, once its clearer it will be clearer!!, aussie is worth an eyeball, monthly, obvious !!!!!
the 1.42000 hold like 1.40000 level , idk but the truth is the price action does same as when level 1.40000 hit , the turtle soup havent done yet

also the imbalance of friday have been clear , but if you see rightly if the price wanna running above need to clear imbalance near 1.39000 area , that for sure
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #598,558
  • May 30, 2021 9:42pm May 30, 2021 9:42pm
Dxy should get 90.7 area this week.
1h break 90.3 and jumped from the cliff again.
the break is important.
  • #598,559
  • May 30, 2021 9:46pm May 30, 2021 9:46pm
Quoting gatenio
Dxy should get 90.7 area this week. 1h break 90.3 and jumped from the cliff again. the break is important.
gbpusd M15 form a reversal pattern in 1.42000 area ,will it be valid . will see next candle close again
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #598,560
  • May 30, 2021 9:48pm May 30, 2021 9:48pm
Quoting kris89
{quote} gbpusd M15 form a reversal pattern in 1.42000 area ,will it be valid . will see next candle close again
i really dont know how this day going to be..
Usually no volume is a bull.
but i really dont know.
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