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Cable Update (GBPUSD)

  • #609,781
  • Jul 15, 2021 11:04am Jul 15, 2021 11:04am
Quoting pipfarm
Currently i see no reason to go long, yes it looks like the trend is up and of course it is but the overall trend is down meaning the uptrend is a correction hence i am short and still holding my position from earlier. Worse case scenario i lose 20 pips

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@ Pat Chiko

quite simply put the retest swing is corrective therefore it should contain three swings up and at the point you entered there was not 3 swings hence a fake down
Follow The Markets Structure - Patience and Discipline
  • #609,782
  • Jul 15, 2021 11:06am Jul 15, 2021 11:06am
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Strong bearish hidden divergence start.
Everything is possible but not guaranteed
  • #609,783
  • Jul 15, 2021 11:06am Jul 15, 2021 11:06am
Quoting Pat Chiko
{quote} Lesson of the day for me . I'm sharing it with you. Overall structure, price is making LH and engulf for Lower Low. Breaking down structure good for shorting. Price react to all supply zone and went down smoothly. The point I get caught was not even Flag Limit/FTR or Demand zone, still price surge up in one single 15M candle for 55 pips in one go. This is I believe just a manipulation , as I couldn't find any other reason, on why price reacted at that particular point in reverse. Here's the chart. {image}
... the spike up this London morning was caused by market's reaction to a Boe Mpc member suggesting some tightening of loose monetary policy in near future. FF.com did have it in their calendar although it was not tagged red or anything. There was obvious momentum in lower t/f's which probably should have alerted you to something? Occasionally these Mpc members can cause a tickle in the markets with speeches/comments. We used to have it years ago with for eg Andrew Sentance - a then mpc member. www.forexlive.com is a good site for quick analysis - well quicker than this site but it is not 'live' as in' realtime' but they offer analysis pretty quickly.
------------------------------------------------------

quick downside follow thru on that last 1hr solid bearish close...1hr below.
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Trader with an Edge.
  • #609,784
  • Jul 15, 2021 11:10am Jul 15, 2021 11:10am
Quoting Pat Chiko
{quote} Lesson of the day for me . I'm sharing it with you. Overall structure, price is making LH and engulf for Lower Low. Breaking down structure good for shorting. Price react to all supply zone and went down smoothly. The point I get caught was not even Flag Limit/FTR or Demand zone, still price surge up in one single 15M candle for 55 pips in one go. This is I believe just a manipulation , as I couldn't find any other reason, on why price reacted at that particular point in reverse. Here's the chart. {image}

The drop has come for you.

So happy you will close with profit.
#Stay blue. /swinger/scalper/
  • #609,785
  • Jul 15, 2021 11:12am Jul 15, 2021 11:12am
Quoting thomi
{quote} reverse {image}
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  • #609,786
  • Jul 15, 2021 11:17am Jul 15, 2021 11:17am
Daymn that dropped like a stone… any ideas what happened?
Insane in the Brain..
  • #609,787
  • Jul 15, 2021 11:19am Jul 15, 2021 11:19am
Quoting BeeTogether
Daymn that dropped like a stone… any ideas what happened?
  • #609,788
  • Jul 15, 2021 11:19am Jul 15, 2021 11:19am
... 3 or 4 attempts now to get topside of 3910 - all repelled by supply....is this a sign for near-term overall future price discovery?
-------------------------

... may be some demand down to the current dly lo 3813? Strong selling though.
Trader with an Edge.
  • #609,789
  • Jul 15, 2021 11:20am Jul 15, 2021 11:20am
jays target in the making...
Trade with prediction = witch with her visions lol
  • #609,790
  • Jul 15, 2021 11:24am Jul 15, 2021 11:24am
Quoting pipfarm
{quote} {image} @ Pat Chiko quite simply put the retest swing is corrective therefore it should contain three swings up and at the point you entered there was not 3 swings hence a fake down
Thanks Pip Farm.

Straight forward and one liner answer. Appreciate you sharing the knowledge.
PAT


Quoting mysterio
{quote} It was in response to Gilt yields surging after the MPC member announced early tapering of asset purchasing I was in long anyway because we had taken the trendline/asia low liquidity and were reversing so believe it was headed up anyway Entry was a little late Busy this week so don't have the time to scalp the range unfortunately {image}
Thanks Mysterio. I missed those event. Next time should double check with calendar. My mistakes. Appreciate your assitant.
PAT


Quoting Headland
{quote} ... the spike up this London morning was caused by market's reaction to a Boe Mpc member suggesting some tightening of loose monetary policy in near future. FF.com did have it in their calendar although it was not tagged red or anything. There was obvious momentum in lower t/f's which probably should have alerted you to something? Occasionally these Mpc members can cause a tickle in the markets with speeches/comments. We used to have it years ago with for eg Andrew Sentance - a then mpc member. www.forexlive.com is a good site for...
Thanks Head Land. Missed those event. When the talk, market moves. lol. Worse off, against me.
PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #609,791
  • Jul 15, 2021 11:24am Jul 15, 2021 11:24am
the band is here
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yes yes yes
  • #609,792
  • Jul 15, 2021 11:24am Jul 15, 2021 11:24am
Quoting BeeTogether
Daymn that dropped like a stone… any ideas what happened?
Must be a member of the Lee family.
Could it be Liu Kang? I have been expecting him anyway

It's Thursday, so yeah
  • #609,793
  • Jul 15, 2021 11:26am Jul 15, 2021 11:26am
Quoting dimitricss
jays target in the making...
I have to agree with you.
It's really looking like it this time.

Let's see how fast it goes.
Keep Well
  • #609,794
  • Jul 15, 2021 11:31am Jul 15, 2021 11:31am
...this was the 1min candle - it didn't come off any pot supp/rbs factors so no latent demand that I could see caused it....I knew therefore that it was likely something that Mpc member Saunders had said as he was scheduled to start speaking 11am London. The initial 1min candle was so much bigger than those that went before....and with a big bullish body implying momentum/reaction to this. It was a 1min b/o of the recent next higher t/f hi with momentum on it's side. 1min below.
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Trader with an Edge.
  • #609,795
  • Jul 15, 2021 11:39am Jul 15, 2021 11:39am
yes yes yes !!!
not a profit but a great comeback
before i came back to the band , i was in a daily 108 $ loss
but 2 trades in the last 2 hours redused the loss to only 23.60 $
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yes yes yes
  • #609,796
  • Jul 15, 2021 11:42am Jul 15, 2021 11:42am
Time for Mr Lee..
Insane in the Brain..
  • #609,797
  • Jul 15, 2021 11:47am Jul 15, 2021 11:47am
Still buying the dips above 3800...still expecting 3900 to break.
Everyone can see the chart, but only a few can actually read it.
  • #609,798
  • Jul 15, 2021 12:00pm Jul 15, 2021 12:00pm
i am short sinze yestarday and it was all day negative and finally it is positive again
  • #609,799
  • Jul 15, 2021 12:00pm Jul 15, 2021 12:00pm
Trying a long scalp for 10 pips…..
Extreme gut feeling trader
  • #609,800
  • Edited 12:37pm Jul 15, 2021 12:00pm | Edited 12:37pm
Quoting Pat Chiko
{quote} Lesson of the day for me . I'm sharing it with you. Overall structure, price is making LH and engulf for Lower Low. Breaking down structure good for shorting. Price react to all supply zone and went down smoothly. The point I get caught was not even Flag Limit/FTR or Demand zone, still price surge up in one single 15M candle for 55 pips in one go. This is I believe just a manipulation , as I couldn't find any other reason, on why price reacted at that particular point in reverse. Here's the chart. {image}
I enjoy analysing failed trades, as it teach me more than a winning trades.

looking at it deeper, I found the judgmental error in Technical Analysis made earlier.
In short, there was an ignored Demand (RBR) by the WRB candle earlier.
Price came back an d pick up the ignored demand as fresh demand zone.
I overlook the chart. Lesson learned.

Who learns from his own mistakes is SMART and who learns from others mistakes is WISE.
It costs money to be SMART and it is free to be WISE but free stuff in this world is considered worthless.
Here's the chart.

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There are other element that made me suspect of the sudden surge in price earlier.
I suspect , these two guy (they ae buddy) in this thread are using Power of the Dark Side & Moontologist to manipulate the price earlier.
I cannot drop name here, but suffice I call them Suspect #1 and Suspect #2.
Be extra careful, as Suspect #1 has been suspended from FF for more than 60 times.
And suspect #2 like to use Spiritual Power, if you go against him.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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