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Cable Update (GBPUSD)

  • #618,321
  • Aug 20, 2021 4:11am Aug 20, 2021 4:11am
first enter buy @1.36200 for weekend left
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #618,322
  • Aug 20, 2021 4:11am Aug 20, 2021 4:11am
Quoting hans91
{quote} looks like you are very bullish with EU and GU mate, i don't know what makes you convinced that EU and GU is so bullish. we know Fed wants tapering soon. so market will be bullish with DXY as unemployement rate below 6% right now. i think GBP will soon dump to 1.33 after reach 1.37 - 1.38 area incoming weeks. we might see tapering talk from few months ago soon will be reality to apply in US.
I'm with you. DXY has convincingly broken out of the range, looks like weekly will close out. Thus I'm heavily bearish on GU going forward. But, I think we need a bit of a correction first. I want to short higher up, lets see if the market lets me.

Currently out of the buy. They are building longs though but I would like to get in at a greater discount
  • #618,323
  • Aug 20, 2021 4:19am Aug 20, 2021 4:19am
Quoting mysterio
{quote} I'm with you. DXY has convincingly broken out of the range, looks like weekly will close out. Thus I'm heavily bearish on GU going forward. But, I think we need a bit of a correction first. I want to short higher up, lets see if the market lets me. Currently out of the buy. They are building longs though but I would like to get in at a greater discount
GU monthly chart don't create HH yet. so price is still in a range. In MN Chart.
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MA provides the market's current direction and strength.
  • #618,324
  • Aug 20, 2021 4:19am Aug 20, 2021 4:19am
Quoting hasib
{quote} Agreed, Price is trying to move up, Because of uncertainty we are now in a range in H4. We should buy when find opportunity with low risk. It is better we stay out this week since today is Friday. This week will be bearish week and Price is now below monthly open line that is another point, how this month close I will observe it. {image}
In the past 16 months all three indexs have had only 3 RED months all 13 others were all GREEN

looking at ns100 i see around 33000 roughly from the low of the week starting 20 june as a possible area of the bottom of the range i doubt it will it surely can reach that zone anything is possible.

but the point i am trying to make is that i am waiting for a new trend to develop such as the one of the last 16 months.

i found brilliant opportunities on the 4hr daily and weekly charts doing back testing which i want to implement in the next leg up.


so i am going to sit on my hands paitiently wait for the next move up...
Trend_Masters
  • #618,325
  • Aug 20, 2021 4:20am Aug 20, 2021 4:20am
dxy is set and confirmed for 9400 9450


short gu to 13600 13550


i am looking to buy gu at 135 levels for 350 pips target
MY OPINION NOT FINANCIAL ADVISE
  • #618,326
  • Aug 20, 2021 4:22am Aug 20, 2021 4:22am
Quoting hasib
{quote} GU monthly chart don't create HH yet. so price is still in a range. In MN Chart. {image}
GU weekly shows down side possibility. We see doodle top after that LL LH in the chart.
Attached Image (click to enlarge)
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MA provides the market's current direction and strength.
  • #618,327
  • Aug 20, 2021 4:27am Aug 20, 2021 4:27am
Quoting kerndc
{quote} In the past 16 months all three indexs have had only 3 RED months all 13 others were all GREEN looking at ns100 i see around 33000 roughly from the low of the week starting 20 june as a possible area of the bottom of the range i doubt it will it surely can reach that zone anything is possible. but the point i am trying to make is that i am waiting for a new trend to develop such as the one of the last 16 months. i found brilliant opportunities on the 4hr daily and weekly charts doing back testing which i want to implement in the next leg...
I don't know what you backtest but I Backtest one method that method buy is still valid and H4 and D1. if I am algo trader my buy trade should be open in this market regard less of risk of fundamentals.
MA provides the market's current direction and strength.
  • #618,328
  • Aug 20, 2021 4:32am Aug 20, 2021 4:32am
Pat I wanted to thank you, you made my eyes open with your suggestion. The lights are now on.
  • #618,329
  • Aug 20, 2021 4:39am Aug 20, 2021 4:39am
Today is not the best day to open Buy if you are not a swing trader

Gu may go back to 138 and 140

we should find buyers at 136 or 135 if it ever get there
MY OPINION NOT FINANCIAL ADVISE
  • #618,330
  • Edited 4:54am Aug 20, 2021 4:43am | Edited 4:54am
Quoting hasib
{quote} I don't know what you backtest but I Backtest one method that method buy is still valid and H4 and D1. if I am algo trader my buy trade should be open in this market regard less of risk of fundamentals.

i do manual backtesting. it is labour intensive my method. i have no coding skills. so cant be coding algos to do the work for me. -something i want to do actually in the future- i did a brief backtest on silver last night it was tough. i just used the weekly chart and tested 10 trades. ive entered a short today XAGUSD on the daily. hopefully it will work out. im selling it...

if i have a trade from a backtest i take it regardless of the environment i donot have a choice . Even if it is clearly going in the oppositie direction i still take the trade becuase i have no idea what will happen.

i did just that this week will GBPUSD i had to buy on the weekly chart becuase last week was bullish signal for my weekly system but my monthly and daily were sell signals so i sold on the daily and monthly but bought on the weekly. next week i will reverse the weekly and start selling.

point is if my system give s signal i have to take it i have no choice i have to have 1000% faith in my backtesting.

that is the key for me. if my backtest was profitable i have to implement every signal the market gives i cant be selective becuase my backtest was based on the last 10 - 20 trades and it was profitable so i have to implement it for the next 10 - 20 trades and trust it will be profitable too.

straight from mark douglas trading in the zone book. the chapter on trade like a casino

anyway thats my approach to backtesting and implemenataion i use MARK`S principles he outlined in trading in the zone..

Fundamentals are very important regardless technically we have to follow the price.

its more important to trade with the fundamental themes ie. choose markets that are in favour of the current theme such as the strong dollar yen and weak exotics in FX than try to anticipate the fundamental environment in advance.

regards...
Trend_Masters
  • #618,331
  • Aug 20, 2021 4:44am Aug 20, 2021 4:44am
Quoting Moty
{quote} so i will lose 3 $ {image}
...and if I went wrong with my early buy, I will lose $4
  • #618,332
  • Edited 4:57am Aug 20, 2021 4:44am | Edited 4:57am
Quoting Moty
{image}
Hi, Moty.
If you intend to continue using super-trend and follow it, entries near the band has lower risk. You can avoid some of the bad signals. Just my experience
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Air force
  • #618,333
  • Aug 20, 2021 4:51am Aug 20, 2021 4:51am
... Price testing the prev 1hr sw lo zone that extends down to current dly lo @ 3609, this coexistent with the top of the 4hr part of the prev 4hr/dly/wkly sw lo down to 3566. Dly S1 circa 3590 and a fib of one of the main sw lo's to 4249 in there too @ 3579.

Price has travelled 152% of 13week awr so far this week, and 78% of 6mth amr so far this month. Today, 36% of 30day adr so far, which is down to 89pips.
Trader with an Edge.
  • #618,334
  • Aug 20, 2021 4:52am Aug 20, 2021 4:52am
We are at strong support area right now. But I choose 3580 for my buy with sl 12pips.
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  • #618,335
  • Aug 20, 2021 4:58am Aug 20, 2021 4:58am
Attached Image (click to enlarge)
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We are Trading inside a Daily range high and low which is Bearish. Price is at a discount level.
On the 4HR chart....Price has broken structure to the upside and is currently making a RTO to the discount pd array.... After that...we will see momentum to the premium level...to get ready for our buys which may begin next week Tuesday to wednesday.
We cut the winners short and let the losers run.
  • #618,336
  • Aug 20, 2021 4:59am Aug 20, 2021 4:59am
Clearly m30/1h ending diagonal, idk how long it could go, after the BO i’ll be smarter.

but you know how diagonal work.. can play for a while.
  • #618,337
  • Aug 20, 2021 5:00am Aug 20, 2021 5:00am
Hi all friends
here is a video you can watch and get few new ideas in your free time.

Inserted Video
MA provides the market's current direction and strength.
  • #618,338
  • Aug 20, 2021 5:00am Aug 20, 2021 5:00am
Moty what time frames do you trade from?
  • #618,339
  • Aug 20, 2021 5:00am Aug 20, 2021 5:00am
Attached Image (click to enlarge)
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yes yes yes
  • #618,340
  • Aug 20, 2021 5:02am Aug 20, 2021 5:02am
5 minutes. You are one of the most dedicated people that I have seen on this site. Have you tried other timeframes?
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