Cable Update (GBPUSD)

The secret in ageing is we want to simplify, the same process should happen in charting.

that’s a 2 year day chart . 1. It looks to be trending from the top 1.4300 back to 23% fib . 2. Is that fib going to break . 3. Or is it a bounce to take out the top then we will need a fib ext or some s/r lines

no idea ...lol
Nothing is set in stone

chat opened up . 1. Is that the correct trend or do we redraw it in a long trend look .? 2 is that a dt ?? And I have that On a 61.8 fib line drawn as my above chart. 3. Is that is dt then 1.3570 area could be looked at and we can see if that breaks price could break down further 1.2450 area

more exploded look . Is it dt we need Bones here we can see emas are pointing long . So next week should give a better understanding

what y'all see

that above 4 hour chart which thank you for all your input . I might just stop posting again after today as I often wonder why ?? If you look at the above with fibs on we can see price break through come back and show a bill candle on the right of the move . The emas on 4 hour are pointing long below are pointing short . 1. Look to see a cross over 10/20 ema on that 4 hour . And we see the red bear candle starting to show , where look left again it does not .so will we see 3800 and then back into range . This will or could show a h/s look .. that’s it we have a plan . Long may it take but this is what you all should be doing I think I Ann quite successful now as a trader but this is my plan my opinion and it will be a part of my trades .

It looks like price has made a lower high, but of course there’s no real barrier to move higher and as Navin2007 said 1.4 will not be easy if it does open bullish next week.

Last week was the first week after a Doji pattern formed on the weekly and we saw plenty of bullish action with the exception of Friday. I expect GU to continue north towards all the liquidity void areas marked on the 4H chart. Fundamentally I do not have any serious analytical skills, but I do not see what could stop the dollar weakness during the summer before early to mid September, when the summer trading will finish. So, classic textbook bullish action to follow next week, IMO. Please correct me if you feel that I’m wrong. Enjoy your weekend and good luck next week.

To me, I will take step by step, session by session, day by day.

Monday, I expect the price to rise around 3920/30 for a sell towards 3865.

This is my first step .

No other plan now.

Expecting a fall to 1.3820s over the coming days before continuing bullish-- may range a bit first

Will get some charts up later

Already have a buy stop at 1.3800 area till 1.42.. I expect that follow through..

This is very important TRADERS!!!
Whenever you are buying; always make sure there are SELLERS TO BUY FROM (STBF) and whenever you are selling always make sure there are BUYERS TO SELL TO .... (BTST)

Many thanks for your advice

I think what he means is more Not good idea to leave pending order on a Sun market, you could be hit with large slippage and spread

Don't be hard on yourself man. It's the game. Days are coming when you will smile and that will automatically cancel the bad days.

Hello Navk,

I read you comment, and it’s uncalled for to laugh at your fellow traders making a trade mistakes on hind sight.
Only primary school children does that when others made mistakes, but as professional traders, we should give a positive encouragement for others to succeed not other wise.

You post makes other aspiring traders in this thread afraid to post, coz they will be laughed when making a trading mistakes.
Many will shy away to share their ideas and view for us to grow together as successful traders.
Only handful of poster who are brave enough to post their trade view, which I believe our numbers are handful only.
You posted on the hind sight after trade completed, seems thumping your chest and laugh at unfortunate traders....




Now, Lets analyses what really happened during the trade progress.

Chart A –Decision Point.

At this point, Price Action Traders will see clear zone on support and fresh demand.
Price is rejecting the zone.
Sound Trader with good Technical Analysis will place a long order here with minimum risk.
Since we've seen the same thing then it's confirmed a good trading rule.

Even at this point, you’ve made a decision of going long:
You’re right on making that trade call going long at this point based on TA.
Here’s your post.


Since the seller over whelmed buyer, price break at fast speed (Break-out styles) caught Buyer and trigger stop placed below the area fueled faster speed of drop.

Based on TA, Price may bounce up from those area if Institional Trader (IT)/ Market Maker(MM) decided to push the price to the upside.
Direction “A” where price decided to go. Direction “B” is an option if price bounce from thereon.
See Chart below.



Closing Remarks : - Every member has their own belief based on whatever assumptions they think is logical and sensible to them.
The permutation becomes so diverse.
And each one of us brings our beliefs to such a discussion demanding that our belief to be true and others false.
What's true for me is false to someone else.
It happens to be the case.

How can there be a discussion that some of us hope for when all we do in such a discussion is to laugh at the other guy with 5 years’ experience, "you're an idiot"? ( that’s how I read from your post plus your cynical Ha ha …at the end)

No fruitful discussion is possible on FF other than the usual argument drama that provide fun and entertainment.

If you want to say you’re a great trader, please.......don’t have to pin others traders down on their bad trades.

I’m willing to ask FF to give you my personal RED Badge, so you everyone knows you’re the best traders in FF. I don’t need the RED Badge, all I need to help other traders to learn as friendly as possible, and not to shy them away from posting trade analysis, no matter how wrong their analysis is/are/going to be.

Only handful traders in this thread are brave enough to place themselves outside their comfort zone to present themselves vulnerable. They post trade set up /ideas and get mixed response from others.

I’m proud to know these brave people :
Moty, elbert3, nAVIN2007, Moty, HaLBot, Houtbay, BeeTogether, viktoriaxz, mysterio, Lenart80, pipfarm, babayaga, kris89, Baby-Trader, Forex.z1, knkie, Waveskierrob, Wavegarrick, ChiForex, MTF Test, kk300, Trumps, montygoldy, Nd10, Mastropiero, maheeee, pipcenturion, Bainbrito, IBabyTrader, BigNumbers, CayoteUglyXXX, OnlineAddict, gobalan3.to name a few.
We live in interesting times. The moment you use the words "intelligent/intelligence or idiot", people get offended.

This is how an educated person think. “ To help others, you don’t have to step on their head”.

Sincerely

PAT

Hi,

Read my post with positive attitude.

I always say that when we post something, it is read by many here..experienced or newbies.

Having said that I avoid two things :

1) Buying into resistance thinking that it is going to break, I everytime failed. I avoid that.

2) Not once, not twice, not thrice....many fridays when I opened counter trade against daily candle...ESPECIALLY IN NY SESSION was in deep trouble. I guess you know the reason..low volume on Fridays.

Since then I cautioned those who follow me in thread or at personal level in my place where i Live.

By the way, my post was not intended for you.

You are one among the TOP traders here.

If you got hurt by my post, I would only say, look at my post with positive attitude.

Cheer up !!

We are just trying to help each other in this thread, and I would be the last person to make such post circastic comment on anyone, after having posted here 10000 + posts.

To my analisis Daily is up, H4 need retrace,but because daily is up, it can be sideways at one place de facto.How it goes i dont know.Every person here can have his own opinion. And every trader even with reputation can do mistake.