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Cable Update (GBPUSD)

  • #604,001
  • Edited 2:47pm Jun 21, 2021 2:34pm | Edited 2:47pm
Quoting palpite
{quote} Is touching the MA200 - M30. Now we need wait the price start the drop for to sell, try to buy not is good yet.
I'm testing a sell, if m30 200ma breaks ill void it
  • #604,002
  • Jun 21, 2021 2:34pm Jun 21, 2021 2:34pm
Quoting Pretense
{quote} check m30 ma
Will close the day with an engulfing, and i think this can change the movement ABC to an wave 2. Need wait to confirm it yet.
Together we can be strongest
Vantage Return This Month: na
  • #604,003
  • Jun 21, 2021 2:42pm Jun 21, 2021 2:42pm
Quoting Pat Chiko
{quote} Bainbrito, your word constant really got me. I think you have a very good point here. Most traders have no trading edge, they make a couple of lucky trades, bank a profit, now what they do is common to all of us. They go big doubling their lot size. Instead of winning, they lose and they lose at twice the rate they won. The profit melts away. This is a business, the business is about finding your own edge, being logical, not chasing the market and being prepared to keep applying the edge in spite of loosing sometime. Lose small, cut your...
Truer words have never been spoken. We are all wrong in our trades, a lot. Money management is the major key behind being a successful trader. Cutting your losses quick when the trade moves against you, not over leveraging and Locking in profits with stop losses and and letting winning trades run.
  • #604,004
  • Jun 21, 2021 2:48pm Jun 21, 2021 2:48pm
Sell - 1.3929
Together we can be strongest
Vantage Return This Month: na
  • #604,005
  • Jun 21, 2021 2:49pm Jun 21, 2021 2:49pm
Quoting maheeee
next 2 years prediction, GBPUSD analysis -- june 2021 to june 2023 {image} AM THE FIRST HERE PREDICTED FOR 2 YEARS............

I guess it should be theoretically ... but in this vast market with millions of participants, different opinions will arise every time the price moves ... unless the market is following only one “leader” like Waveskierrob's ...
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #604,006
  • Edited 3:04pm Jun 21, 2021 2:54pm | Edited 3:04pm
Waiting to see if the bears kick in around 1.3942-62

Textbook W pattern this morning I hope some of you caught it
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  • #604,007
  • Edited 3:45pm Jun 21, 2021 3:22pm | Edited 3:45pm
Crazy pound touched 2nd upper bound of Expected daily Range. 3rd not on the chart, but it's 1.4002/1.3617.
1.4 can be tomorrow, will update ER before London open.
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Hidden bearish divergences. I think they are first.
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Air force
  • #604,008
  • Jun 21, 2021 3:26pm Jun 21, 2021 3:26pm
Quoting Vincent1
{quote} As expected in the analysis of the past few weeks, the trend has turned bearish. The Rounding Top has been confirmed. The market absorbed all the buyers and we have the big red candle, as expected. In the next few days/weeks we must understand if the Double Top is also confirmed which can bring us below 1.31 Dow in his theory said: The Market Discounts Everything (It's been about 130 years ago and this still works. Do you understand the power of technical analysis?) The FOMC only confirmed the expectations of big investors who were buying...
Just wanted to acknowledge this post, one of the most high value posters on FF, be sure to subscribe to this man. Embodies the FF spirit of freely sharing high quality and accurate analysis
  • #604,009
  • Jun 21, 2021 4:36pm Jun 21, 2021 4:36pm
Monthly really needs to close above 4020 for bullish continuation.
Compulsions can be hard to resist
  • #604,010
  • Jun 21, 2021 4:55pm Jun 21, 2021 4:55pm
1 - on daily is the small version of 3 on weekly
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Would this be so?
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WT
  • #604,011
  • Jun 21, 2021 5:12pm Jun 21, 2021 5:12pm
Quoting Bartosz77
1 - on daily is the small version of 3 on weekly {image}{image} Would this be so? {image}
could be right mate! I think a slight drop to psychological level of just below 139 could trigger that rise
Insane in the Brain..
  • #604,012
  • Edited 6:07pm Jun 21, 2021 5:20pm | Edited 6:07pm
Quoting Pat Chiko
{quote} Forex Traders have a tendency to think they are right and the market is wrong, if my trade goes south I am out, the market is telling me I am wrong, listen to the market its is always right.
Exactly. The fear of loss causes many traders to look for protective shields and structures that often do more harm than good, and the need to be right and make the market wrong is one of the most dangerous, and backwards. There is no need to care about the outcome of any one trade because it just doesn't matter, assuming good money management, and there are always other opportunities.

"We are doomed to formulate conceptual structures that are much simpler than the complex phenomena they are attempting to account for. These simple conceptual structures shield us, pragmatically, from real-world complexity, but also fail, frequently, as some aspect of what we did not take into consideration makes itself manifest. The failure of our concepts dysregulates our emotions and generates anxiety, necessarily, as the unconstrained world is challenging and dangerous. Such dysregulation can turn us into rigid, totalitarian dogmatists, as we strive to maintain the structure of our no longer valid beliefs. Alternatively, we can face the underlying complexity of experience, voluntarily, gather new information, and recast and reconfigure the structures that underly our habitable
worlds."

- Jordan B. Peterson and Joseph L. Flanders
Department of Psychology, University of Toronto


Quoting Pat Chiko
{quote} You have a very good trade taken from the chart. Being able to read charts IS really your skill. I think it’s actually beautiful how you can interpret charts just make sense for the trades.
Thanks Pat! That's lovely to hear from a master scalper such as yourself. I ask myself the below questions all the time when I am reading the charts as the real skill is framing what you can see so that it is useful to you and pulling the trigger only when it is. Thanks again. I like to think we all learn from each other here, we may differ in our methods but all of us have something to offer - even the Newbie trader.

 

  1. Does the currency have momentum?
  2. Is there an appropriate margin of safety? ATR
  3. Am I staying within my circle of competence?
  4. Determine position size
  5. Determine acceptable loss
  6. Determine whether the trade has Quality
  7. Consider factors which support or undermine the trade
  8. Does this look easy?
  9. Is there enough momentum to compensate for bad management?

  1. The best trades are obvious. If in doubt pass over trade / exit position - there are no called strikes.


“Listen, business is easy. If you’ve got a low downside and a big upside, you go do it. If you’ve got a big downside and a small upside, you run away. The only time you have any work to do is when you have a big downside and a big upside.”

—SAM ZELL, NEW YORKER, 2007

  • #604,013
  • Edited 6:28pm Jun 21, 2021 6:15pm | Edited 6:28pm
Selling at early asian
Potensial crooked daily candle
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #604,014
  • Jun 21, 2021 7:44pm Jun 21, 2021 7:44pm
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yes yes yes
  • #604,015
  • Jun 21, 2021 7:56pm Jun 21, 2021 7:56pm
yes Moti, I am also prepared for bearish daily candle today.
Intraday only.
  • #604,016
  • Jun 21, 2021 8:10pm Jun 21, 2021 8:10pm
Quoting navk
yes Moti, I am also prepared for bearish daily candle today.
If today candle confirm yesterday crook candle maybe we can see 1.32 this week at no time
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #604,017
  • Jun 21, 2021 8:32pm Jun 21, 2021 8:32pm
Double bottom. High volume bullish candle bounced at major psychological level (1.38). Railroad type candlestick pattern on Daily. All of this following an exceedingly strong downward move with virtually no relief. I think we are due for at least a 38.2% retracement. Maybe even 50% or more. But not before a minor retracement on the Daily candle. I could be wrong. Maybe bears are still hungry and will continue to tear into bulls. Time will tell.

GBPUSD Daily Chart
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Learn from your mistakes and march on.
  • #604,018
  • Jun 21, 2021 8:44pm Jun 21, 2021 8:44pm
Quoting kris89
{quote} If today candle confirm yesterday crook candle maybe we can see 1.32 this week at no time
I expect support around 3850 first, and most importantly, if 3900 breaks, it could be below 3850.

However, if support 3900 holds, then R1 first and then drop.
Intraday only.
  • #604,019
  • Jun 21, 2021 8:48pm Jun 21, 2021 8:48pm
Quoting Georginson
Sold 1.3915, target 1.3860, stop 1.3965
Manually closed at 1.3905 and stand aside till London open.
Data + Stat + Risk/Emotions Management
  • #604,020
  • Jun 21, 2021 8:55pm Jun 21, 2021 8:55pm
Quoting navk
{quote} I expect support around 3850 first, and most importantly, if 3900 breaks, it could be below 3850. However, if support 3900 holds, then R1 first and then drop.
I would expect second scenario...probably.

But who knows? Market knows.

ha..ha..
Intraday only.
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