Cable Update (GBPUSD)

Check the cot data, i use Commercial data changed, we know commercial is headge fund, and i use logical about their perspective. If the trend falling, but the commercial data long, its end of short, and vice versa. because commercial headging their capital for money management, so next week i have bullish perspective.

There is 5 days next week

As Pat says a price graph consists of hundreds of support and resistance lines. One has to observe how price responds to these lines and then react, and know how to react.

hey bro, long time my friend, how are u..?

Navin .... my old brother...... just fine. How about u bro ?

Salam ...

weekly .. the two blue lines . The bottom one looks to be the strongest support I would say ??

we are still in the month candle . So I would think the bottom of the previous candle is or should be resistance if so ??? So we look for the strong support . I could be totally wrong and if so please ignore the posts

Elbert 3 and Pat are correct the market will take out the shorts and then move higher.

day only the 200 ens is supported and 4 other emas on the top of price . So 1 .. the 200 is going to be stronger and we look to the top emas and s/r lines sir resistance. If that 200 goes we could be looking at 1.2450 area . Above it will be looking to take out 1.430 area that’s thinking the 200 is going to be the holding start of a trend long . The choices are opinions that change daily and even hourly . But it’s best to have a battle plan before we go to war later …. So may your gain be great and you loss very small … for now we eat drink and share our plans with our generals (family’s friends ) take care and ever Regards E

5 year monthly . If !!!!.if it gets into that box it would of failed the tl and trades taken on the short side should be better than trades taken on the long side

month 10 year .and you can see if it goes long without the arrow in position

Coin has spoken

Hi Guys,
A lot to think about as we go into month end volatility coupled with Fomc on Wednesday. Currently I am getting mixed signals from a daily perspective with slight bullish hints.
My future weekly pivot (blue horizontal line) is at 1.37000 and as pivots attract I can be reasonably confident for 1.37000 to be tested. Here's the thing though, I will be monitoring very closely for a daily break below my weekly pivot for bearish continuation.
If 1.37000 holds I will be looking for a Daily candle break above my descending trend line (grey) which could also be the start of a new bullish cycle and I could be looking for buy trades on full bullish confirmation signals. Not the ideal scenario, as my mind is telling me that we should correct much lower for a decent retrace before going up. I have to follow my system nevertheless and judging from the various comments and views here it is pretty clear that there is an even split between bullish and bearish views.
A tricky week ahead indeed and the best advice I can give is Patience and more Patience.
Have a great week,
Cheers.

Houtbay.

I think you got it all wrong.
This thread is not a signal service or prediction of future price.
Not about, whose is right, whose is wrong. No, that is not correct.

We are here to put up our own TA to have a good discussion of seeing price action in differnent pespective by different traders.
As a trader, we sit alone in front of our screens every day and have few like-minded people to talk to & echange trade ideas.
Of course, in this thread which we can exchange views, but this is not a forum to prove , I'm right ,everyone else is wronged.
Please respect other trders view, as they may teach us something valuable.

This works in this thread with all discussion helps us to get a quick overview.
We are often unaware, that we have a trading choice.
We just have to learn how to get the most out of these choices.
It often happens that we decide wrongly.
It does not matter how we decide between A or B, but that we first make sure there is a C and D.
For many of us, this is unthinkable at first because we usually only make A or B decisions and exclude C or D decisions.
But these alternatives are often the best. Listen to other, come out with your own analysis and then you judge the trade you want to take.

On Instagram, YouTube and TicToc, many traders show their profits and tell of their rise to the league of the beautiful and the rich.
Some also tell the supposed truth and start trading as a coach one year later. We don't do that in here.
We're cool people, differing in trade ideas. If everyone here, just agree into one things, I will be no longer be interested to post anymore, coz there's no more educational discussion left in the thread.

Nowadays anyone can fake the best forex evaluations so that nobody notices.
And even if real trades are mapped, it is hard to see whether this profit is actually based on competence or only by pure chance.

Success can not be judged solely by whether someone makes money from Forex Market.
It is crucial that he is able to show others how to live long term from trading.
This will succeed in the rarest cases, since each person is different.
In the great YouTube videos where huge profits are shown, it is amazing that the losses are left out.
Do you see how often trades post their losses in this thread ?

One things for sure, by posting losses one can not win customers/ feeling that he's not a professional trader.
In principle, all this is a Facebook world, we see beautiful pictures and envies the other for his life.
In reality, we live in an average and some show a life that they does not have in reality, just to attract customers.

The fact is: a really successful trader will never act as a coach/guru/master/trainer, or have you ever seen that Warren Buffett in the internet offering seminars?

A successful trader trades is one who spend few hours each in trading and enjoys the rest of the time with friends or family.
And trading is a game of risk versus reward.
It is also a game that is not forgiving of players who come in without learning the rules.

Please post your TA and view on how your would like to look at the market next week. I'm all ears.

Thank you

how the Fed brought the interest rates down when inflation expectations are up, the market is still crazy central bank intervention like never before...
meanwhile the $ has been up and stocks up ,this week we have another FOMC

"Since mid-June, the program began paying users a modest 5 basis points, or 0.05%, in interest. Before that they were paid zero interest to hold risk-free assets, like Treasurys"

“Essentially, the Fed is keen to reduce cash balances in the banking system to avoid any overnight rate from going negative,” wrote Gordon Shannon, a portfolio manager at TwentyFour Asset Management, in emailed commentary this week.

They way I read it is rather than let interest rates at the short end go negative, they put a positive rate on reverse repo ,
it's all an illusion creating a very complex web to get your head around, to the point no one knows the unintended consequences .

Hi

Succinctly put!

Very good post summarizing our participation in a forex forum/thread.

Trade well / Mos

Unreal positions mate, going to be using a swing trading approach starting next week.

You have to be careful with the weekly because of the monthly ,also those 4 week consolidation
this can be an outright bearish pattern ,
look to how it opens over night or if it breaks up to next level,
chart with rough down channel idea attached.

In the end all this playing with free markets can only end in disaster or a flatlined run by the fed and government economy with huge wealth divides .

No worries, I'm glad you found it interesting. It's smart to wonder about the future of currency trading. I'm not too concerned about being able to access the currency markets in future, however who knows what the next big technology shift will be. It seems that pattern recognition software and AI is getting better and better and better. There will be better algos and indicators, and trading is exploding in popularity with the pandemic, so more people are joining this tug of war with all their different ideas and lumps of money and debt; because of the observer effect, these acts of 'perception' will change the outcome meaning it will become harder to trade based on tried and tested setups. Whatever someone says x scenario is, it isn't. I expect the big players are collecting more and more data and creating more and more sophisticated behaviour models and military-esque campaigns. Most businesses do some form of sensitivity analysis to know if they could survive a certain % drop in revenue or increase in costs, and do regular SWOT analysis, so I think anyone running forex as a business should at least be able to adapt to most changes and challenges, minimising their risk and maximising opportunities. For me it is just a hobby at the moment, I work for a medium size business and am about to join the board of directors, however we are also vulnerable to future shifts in technology and scraped through the pandemic, so it concerns me to have an alternative source of income should the worst happen. I would miss being connected with 'the real world' and the people I come into contact with everyday, but I really enjoy trading and would love to trade full time in the future. The FF community is awesome!