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Cable Update (GBPUSD)

  • #619,161
  • Aug 25, 2021 8:19am Aug 25, 2021 8:19am
Quoting gatenio
{quote} thanks but not that nice, holding nothing since tomorrow morning. now +25 total this month still awful for me, and probably i wont end up positive.
H4 price is just a trap, wheres the last eight H4 candles are inside candle, within the harami created yesterday.

It may break either way as it is now.

I'm trying to make a quick scalp out of this inside candle formation, until the break out is confirmed.

Just to be on the safe side.

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #619,162
  • Edited 9:08am Aug 25, 2021 8:21am | Edited 9:08am
Well this is what the GBP/USD Indexes look like. GBP Index breaking out of the rising wedge! But on the D1 (GBP) we can see a Bull Flag while on the D1 (USD) we can see a sweet Evening star in play. A little twist when you compare both timeframes. But on the Pair (GBPUSD), Head and shoulders pattern is in play on the W1 chart.
I choose to share the weekly setups so you are aware of what to expect near term. Good luck!
Attached Images
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #619,163
  • Aug 25, 2021 8:22am Aug 25, 2021 8:22am
Quoting thevisitor
We may see a down move to 1.3680-50 for longs above 1.38 My view is bullish..
Nice analysis.

All the best with your short.

I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #619,164
  • Aug 25, 2021 8:23am Aug 25, 2021 8:23am
...back at desk for bit. 1hr/4hr range hi the n lo providing the res then supp...last 4hr candle (gmt+3 candle) was very bearish close @ 1400pm London. 2 x 1hr+ asc t/lines breached to downside now. Still rangy but now bears seem to have the upper hand? Range 47pips so far today, y/day 54pips all day.

1hr below.
Attached Image (click to enlarge)
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Trader with an Edge.
  • #619,165
  • Aug 25, 2021 8:25am Aug 25, 2021 8:25am
Quoting Pat Chiko
{quote} H4 price is just a trap, wheres the last eight H4 candles are inside candle, within the harami created yesterday. It may break either way as it is now. I'm trying to make a quick scalp out of this inside candle formation, until the break out is confirmed. Just to be on the safe side. PAT
yap, but look on the simple picture

4h try to break last swing low BO area and price is blocked
1h made new LL yesterday after really nice run, so the minimum is expect is the last BO swing high on 30m chart

sorry for the ugly chart
Attached Image (click to enlarge)
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  • #619,166
  • Aug 25, 2021 8:25am Aug 25, 2021 8:25am
Quoting gatenio
{quote} 100% agree.. just waiting price to take out this double top diamond pattern {image}
Nice diamond formation.

The set up may be translate into reversal or continuation. ?

We have to wait for confirmation prior taking the trade.


PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #619,167
  • Aug 25, 2021 8:28am Aug 25, 2021 8:28am
Quoting Pat Chiko
{quote} Nice short entry
When price start to move our entry directions everything looks nice. I have short yesterday with small stop. I thought It will hit my sL, for few pips It miss stop.
MA provides the market's current direction and strength.
  • #619,168
  • Aug 25, 2021 8:28am Aug 25, 2021 8:28am
Quoting kris89
So do just me buy these below 1.3700? XD
Count me in
Fools Rushing
  • #619,169
  • Aug 25, 2021 8:29am Aug 25, 2021 8:29am
Quoting gatenio
{quote} yap, but look on the simple picture 4h try to break last swing low BO area and price is blocked 1h made new LL yesterday after really nice run, so the minimum is expect is the last BO swing high on 30m chart sorry for the ugly chart {image}
Seems to be so many trap around for both buyer and seller.

However, taking a trade with some confirmation would be idle, must put stop loss in case trade went wrong.

Be safe protect our trade capital..

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #619,170
  • Aug 25, 2021 8:31am Aug 25, 2021 8:31am
Quoting MTF Test
{quote} Count me in
Bro still holding your long position ?.

That's nice .

I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #619,171
  • Aug 25, 2021 8:32am Aug 25, 2021 8:32am
Quoting pipibrasci
Well this is what the GBP/USD Indexes look like. GBP Index breaking out of the rising wedge! But on the D1 we can see a Bull Flag. Head and shoulders pattern in play on the cable(GBPUSD) pair.(W1 chart) I choose to share the weekly setups so you are aware of what to expect near term. Good luck! {image} {image} {image}
will keep in mind for this. big thanks
  • #619,172
  • Aug 25, 2021 8:34am Aug 25, 2021 8:34am
Quoting Pat Chiko
{quote} Nice analysis. All the best with your short.
No Pat, no shorts for me ( now..)
Long and still adding...
Don't follow me
  • #619,173
  • Aug 25, 2021 8:35am Aug 25, 2021 8:35am
Quoting Pat Chiko
{quote} Nice diamond formation. The set up may be translate into reversal or continuation. ? We have to wait for confirmation prior taking the trade. PAT
Attached Image
  • #619,174
  • Aug 25, 2021 8:36am Aug 25, 2021 8:36am
Quoting thevisitor
{quote} No Pat, no shorts for me ( now..) Long and still adding... Don't follow me
OK, sorry, misread your posting.

My apology.

I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #619,175
  • Aug 25, 2021 8:40am Aug 25, 2021 8:40am
Look h1, we are in dead consolidations. Before US GDP and Jackson Hole traders are not committing with any directions.
This is the market conditions where short TF traders get frustrated and lose large amount by revenge trading.
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MA provides the market's current direction and strength.
  • #619,176
  • Aug 25, 2021 8:41am Aug 25, 2021 8:41am
Quoting pipibrasci
Well this is what the GBP/USD Indexes look like. GBP Index breaking out of the rising wedge! But on the D1 we can see a Bull Flag. Head and shoulders pattern in play on the cable(GBPUSD) pair.(W1 chart) I choose to share the weekly setups so you are aware of what to expect near term. Good luck! {image} {image} {image} {image}
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Daily..JPG Size: 64 KB
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #619,177
  • Aug 25, 2021 8:41am Aug 25, 2021 8:41am
Market is so good....
not euphoria follower
  • #619,178
  • Aug 25, 2021 8:44am Aug 25, 2021 8:44am
Quoting pipibrasci
Well this is what the GBP/USD Indexes look like. GBP Index breaking out of the rising wedge! But on the D1 we can see a Bull Flag. Head and shoulders pattern in play on the cable(GBPUSD) pair.(W1 chart) I choose to share the weekly setups so you are aware of what to expect near term. Good luck! {image} {image} {image} {image}
Thanks for sharing this Pip Ibrasci.

Great view on the GBP/USD current trade & set up.

Best Regards

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #619,179
  • Aug 25, 2021 8:44am Aug 25, 2021 8:44am
Quoting Pat Chiko
{quote} Bro still holding your long position ?. That's nice .
Yes Sir, It's only a consolidation. Some say liquidity grab !! If it drops below 36930. I would consider giving up on buys
Fools Rushing
  • #619,180
  • Aug 25, 2021 8:47am Aug 25, 2021 8:47am
Quoting Pat Chiko
{quote} Thanks for sharing this Pip Ibrasci. Great view on the GBP/USD current trade & set up. Best Regards PAT
UWC Pat!. with all pleasure.
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
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