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Cable Update (GBPUSD)

  • #611,281
  • Jul 21, 2021 10:51am Jul 21, 2021 10:51am
ucad is a crazy mf pair
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yes yes yes
  • #611,282
  • Jul 21, 2021 10:59am Jul 21, 2021 10:59am
84 buy cheeeekkky one pp is there now 5 trades come on gu ,, make up for losing the euro lol
  • #611,283
  • Jul 21, 2021 10:59am Jul 21, 2021 10:59am
This could be a small move towards 138+ Even if it’s on a retracement move
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Insane in the Brain..
  • #611,284
  • Jul 21, 2021 11:01am Jul 21, 2021 11:01am
Quoting Bainbrito
{quote} Thanks, it is hard to believe that the people who really move price pay attention to patterns like these.
They don't. Recent highs and lows from higher time frames such as the Daily and the Weekly are what they likely pay attention to, as those are the most common places where people get stopped out.
Learn from your mistakes and march on.
  • #611,285
  • Jul 21, 2021 11:03am Jul 21, 2021 11:03am
Quoting Georginson
1.3571 + 160 pips = 1.3731 (Minimum bounce) 1.3571 + 177 pips = 1.3748 (Average Bounce) 1.3571 + 200 pips = 1.3771 (Maximum Bounce) The above are possible prices that can be seen in few days time as far as 1.3570 remains unbroken.
Coming to fore gradually...
Data + Stat + Risk/Emotions Management
  • #611,286
  • Jul 21, 2021 11:04am Jul 21, 2021 11:04am
Quoting coyoteuglyxxx
Risky counter short at 1.3676 SL 1.3696 TP 1.3642. I think 1.3690 is a strong resistance and my TP is at the top of today’s LO range {image}
SL hit on this one, I was wrong. I’m out for today. Have a nice evening everyone
Did you place your stop loss order? Why not?!? Story of my life...
  • #611,287
  • Jul 21, 2021 11:05am Jul 21, 2021 11:05am
Quoting Bainbrito
{quote} Thanks, it is hard to believe that the people who really move price pay attention to patterns like these.
Lol. Yeah can just imagine Goldman or whatever 'quick guys it's a bearish crab sell 100k contracts'

Mind you. That long this morning was basically price action pattern recognition on a key level. However, recognising it is one thing, and executing on it whilst it takes you on 3 stop hunts is another thing, getting the SL/TP profit right etc. I think patterns can work if you're combining it with other things as part of your arsenal

Definitely seen Gartleys etc play out massive moves on the DXY/Euro etc so I don't think it's total BS either
  • #611,288
  • Edited 11:18am Jul 21, 2021 11:07am | Edited 11:18am
running out of buyers 93 sold cheeky 5 pip stop lets see if it comes back 3686 to bounce
  • #611,289
  • Jul 21, 2021 11:18am Jul 21, 2021 11:18am
Quoting mysterio
{quote} Lol. Yeah can just imagine Goldman or whatever 'quick guys it's a bearish crab sell 100k contracts' Mind you. That long this morning was basically price action pattern recognition on a key level. However, recognising it is one thing, and executing on it whilst it takes you on 3 stop hunts is another thing, getting the SL/TP profit right etc. I think patterns can work if you're combining it with other things as part of your arsenal Definitely seen Gartleys etc play out massive moves on the DXY/Euro etc so I don't think it's total BS either...
Would you call this a pattern.

All the money loaded short between A and B swings to money loaded long from C to D making AB = to CD

I call it a swing in sentiment not a pattern.
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  • #611,290
  • Jul 21, 2021 11:21am Jul 21, 2021 11:21am
Quoting mysterio
{quote} Lol. Yeah can just imagine Goldman or whatever 'quick guys it's a bearish crab sell 100k contracts' Mind you. That long this morning was basically price action pattern recognition on a key level. However, recognising it is one thing, and executing on it whilst it takes you on 3 stop hunts is another thing, getting the SL/TP profit right etc. I think patterns can work if you're combining it with other things as part of your arsenal Definitely seen Gartleys etc play out massive moves on the DXY/Euro etc so I don't think it's total BS either...
There’s something to them I’m sure but as here2there said there is no edge to them. Maybe they work sometimes and if you land a huge move that compensates for the times they don’t work if the losses are small, that would be an edge I suppose, but I’d rather watch clouds and look for patterns there when there are better ways to trade based on real dynamics. Would be hilarious if the big banks did pay any attention to them though!! It’s interesting to learn about these things though.

“If you open your mind too much your brain will fall out”
Tim Minchin
  • #611,291
  • Jul 21, 2021 11:27am Jul 21, 2021 11:27am
I will not be surprised if it moves to a difficult position this week. That is what normally happens, but i suspect that the bulls will have next week in their paws. Whatever the case is, this is forex
The fragrance remains in the hands of those that gves the rose
  • #611,292
  • Jul 21, 2021 11:29am Jul 21, 2021 11:29am
ucad finally stopped on the rising trendline
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yes yes yes
  • #611,293
  • Jul 21, 2021 11:29am Jul 21, 2021 11:29am
Quoting Bainbrito
{quote} There’s something to them I’m sure but as here2there said there is no edge to them. Maybe they work sometimes and if you land a huge move that compensates for the times they don’t work if the losses are small, that would be an edge I suppose, but I’d rather watch clouds and look for patterns there when there are better ways to trade based on real dynamics. Would be hilarious if the big banks did pay any attention to them though!! It’s interesting to learn about these things though. “If you open your mind too much your brain will fall out”...
x100 likes for Tim's quote
Air force
  • #611,294
  • Edited 12:04pm Jul 21, 2021 11:35am | Edited 12:04pm
Might get a little pullback action around 1.37, wait for adequate confirmation

Edit- would have to break the last low then pullback, if it just drives up forget it
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  • #611,295
  • Jul 21, 2021 11:35am Jul 21, 2021 11:35am
Quoting W0lfram
{quote} x100 likes for Tim's quote
  • #611,296
  • Jul 21, 2021 12:06pm Jul 21, 2021 12:06pm
the drop is coming
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yes yes yes
  • #611,297
  • Jul 21, 2021 12:09pm Jul 21, 2021 12:09pm
Quoting Moty
the drop is coming {image}
Maybe, Daily R2 will be tested Moty.
  • #611,298
  • Jul 21, 2021 12:10pm Jul 21, 2021 12:10pm
It is rising on falling volume so inclined to think it will drop, new pa on high volume will show where the market makers are really participating.
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  • #611,299
  • Jul 21, 2021 12:10pm Jul 21, 2021 12:10pm
G/J has 5150 as target and R
and G/U 3778
  • #611,300
  • Jul 21, 2021 12:12pm Jul 21, 2021 12:12pm
Quoting Moty
ucad finally stopped on the rising trendline {image}
Excuse me Moty...
Please share the indicators you use in this chat, except the pivot indicator.
Thank you in advance.

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