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Cable Update (GBPUSD)

  • #619,801
  • Aug 27, 2021 4:29pm Aug 27, 2021 4:29pm
Quoting Pat Chiko
{quote} Hey Jude, Posted chart below to share WHY am I looking for a spike up to the next zone. This is just pure price action on how I read my chart. Open for discussion and ideas. Price Action marked "A" completed earlier We are in the process of completing Price Action marked "B" now. {image}

Hi Pat,

This is how I see it.

As you say it is open to interpretation

I don't know about you, but I find it much easier to "Read Price" on a Short Term basis "Day to Day" rather than looking from a Longer Term perspective "Week to Week"
Attached Image (click to enlarge)
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  • #619,802
  • Aug 27, 2021 4:50pm Aug 27, 2021 4:50pm
Number crunching, current ADR(20), 28-August-21, compared to 22-January-21

Surprised me, GBPUSD has dropped that much; are there any regular GBPUSD traders noticing the difference?

Does it make it harder to get your target pips?

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #619,803
  • Aug 27, 2021 4:56pm Aug 27, 2021 4:56pm
Quoting OnlineAddict
{quote} Sometime in 2020...I grew $3 accounts few times before...into a couple hundreds each(best one was $3 into $650 within 30 days)...but needed a new challenge...and then found a broker with a 1:2000 leverage and thought $1 to Mil sounds better than $3 to Mil.
Im so impressed with your proses, respect
Using Chaos to Finding Order
  • #619,804
  • Aug 27, 2021 4:58pm Aug 27, 2021 4:58pm
Quoting Erebus
Number crunching, current ADR(20), 28-August-21, compared to 22-January-21 Surprised me, GBPUSD has dropped that much; are there any regular GBPUSD traders noticing the difference? Does it make it harder to get your target pips? {image}
Simple reason is August is usually a sluggish month for GBPUSD, January, May, September and sometimes December are the wide range months for this pair.
Data + Stat + Risk/Emotions Management
  • #619,805
  • Aug 27, 2021 5:00pm Aug 27, 2021 5:00pm
Attached Image (click to enlarge)
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read it as you want ,, not going into the charts as its wasted
  • #619,806
  • Aug 27, 2021 5:09pm Aug 27, 2021 5:09pm
Quoting Georginson
{quote} Simple reason is August is usually a sluggish month for GBPUSD, January, May, September and sometimes December are the wide range months for this pair.
And how to explain why CADJPY daily range would be larger?

It takes a lot for me to IGNORE you, but you can try.
  • #619,807
  • Aug 27, 2021 5:14pm Aug 27, 2021 5:14pm
Attached Image (click to enlarge)
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  • #619,808
  • Aug 27, 2021 5:18pm Aug 27, 2021 5:18pm
Quoting stevepatt
{quote} GBP/USD Short Trades Result 1st Entry 1.37635 Exit 1.37635 +0 Pip 2nd Entry 1.37700 Exit 1.37635 +6.5 Pips {image}
almost the same entry.., 1.37690 ( at the top)

P.S. I returned home late today...
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dolce vita
  • #619,809
  • Aug 27, 2021 6:02pm Aug 27, 2021 6:02pm
Clearly bearish

If we push the above the last highs above 1.38 then maybe I change my mind
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  • #619,810
  • Aug 27, 2021 7:27pm Aug 27, 2021 7:27pm
Quoting Erebus
{quote} And how to explain why CADJPY daily range would be larger?
I trade GBPUSD only...
Data + Stat + Risk/Emotions Management
  • #619,811
  • Aug 27, 2021 8:03pm Aug 27, 2021 8:03pm
Quoting Pat Chiko
GU - First Account Scalping trading set up routine 1) Scalping Analysis {image} 2) First scalping trade (test the reaction anti FOMO) {image} 3) Add position & Manage the scalping trades {image}
Mantap pak cik .... santai dulu laaa. Hv a great weekend
not euphoria follower
  • #619,812
  • Aug 27, 2021 9:10pm Aug 27, 2021 9:10pm
Happy weeked , lets get fun first , later for the next analyze XD
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #619,813
  • Aug 28, 2021 2:27am Aug 28, 2021 2:27am
Quoting Georginson
{quote} I trade GBPUSD only...
And yet you didn't answer my main question...

Does it make it harder to get your target pips?

It takes a lot for me to IGNORE you, but you can try.
  • #619,814
  • Aug 28, 2021 2:31am Aug 28, 2021 2:31am
Quoting elbert3
{image}
It's clear ...
not euphoria follower
  • #619,815
  • Aug 28, 2021 2:55am Aug 28, 2021 2:55am
Quoting mysterio
Clearly bearish If we push the above the last highs above 1.38 then maybe I change my mind {image}
Are you seeing kinda inverted Head and Shoulders
  • #619,816
  • Aug 28, 2021 2:56am Aug 28, 2021 2:56am
Quoting Erebus
Number crunching, current ADR(20), 28-August-21, compared to 22-January-21 Surprised me, GBPUSD has dropped that much; are there any regular GBPUSD traders noticing the difference? Does it make it harder to get your target pips? {image}
where do you get this info from?
  • #619,817
  • Aug 28, 2021 4:23am Aug 28, 2021 4:23am
Quoting trumps
GBPUSD monthly retesting and currently rejecting a critical area. Weekly wedge. Will it break? With the media continuing to manipulate Powell's remarks and push the taper trolley in direct contrast to Powell's actual speech, you can have a fair idea this pair is likely to come under more bullish pressure. {image} {image} {image}
do you believe the people moving this market take there cue off the media ,it's very strange you believe the manipulator is someone else
can you say what month the taper should begin from that speech and what's involved
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #619,818
  • Aug 28, 2021 5:31am Aug 28, 2021 5:31am
Quoting Pat Chiko
{quote} Giving you these following chart to observe. To write my thought process going to be long story. Charts will help us to understand price action. This is not trade signal, but my personal analysis. Hope it helps {image}{image}{image}

I actually took notice of your chart yesterday morning and got out..still think short is the way thou
but great analysis as always
  • #619,819
  • Edited 6:29am Aug 28, 2021 5:33am | Edited 6:29am
Theres 4 ways to deleverage most likely Powell doesn't give two hoots about inflation running hot .
Since thats great for people who hold high debt like the FED .

They already underplay CPI readings as an example before they just measured the rise in house prices in the 90s
But now they carry out a survey
Expenditure Survey asks of consumers who own their primary residence:
“If someone were to rent your home today, how much do you think it would rent for monthly, unfurnished and without utilities?”
The following questions, asked of consumers who rent their primary residence, are the basis of the weight for Rent:
“What is the rental charge to your [household] for this unit including any extra charges for garage and parking facilities? Do not include direct payments by local, state or federal agencies. What period of time does this cover?”''

To any sane person these are ludicrous questions when all they had to do is measure the actual home sales to see where price went.This accounts for 42% of the CPI pie.
Also a human intervene's in actual price rises generally ,if they can find a similar thing for less than they measured before .

They want it to run hot as its the perfect stealth tax on the vast majority (but not asset/debt holders) the whole thing is propped up by this latest fiscal and monetary injections. Biden is on this wagon of spending what you don't have and not asking anyone, with that 3.5 T package there forcing through.
Biden's using the old 'the rich will be paying for it' tactic that Corbyn used, but he's already in power.

They won't be slowing this down ,without a much more extreme situ...especially if that 3.5T pass into reality .
The manipulation was the Fed talking heads on Thursday claiming they're ready to taper the 120 per month which sent the $ up.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #619,820
  • Edited 6:20am Aug 28, 2021 6:08am | Edited 6:20am
Quoting Nd10
{quote} Are you seeing kinda inverted Head and Shoulders
I dont take notice of that pattern really, fails as often as it works

What I see is a general downtrend, a daily supply area, then the lows on the daily chart were taken out to move higher, then took out the highs of the last two daily candles. I assume this is for liquidity to resume the real trend down. Whenever the Fed/JP speak it's normally an excuse for huge market manipulation before resuming in the other direction. Just my two cents, can be wrong. I can see arguments for the bulls too. Will react to the price next week and not overcommit to anything. If we do move up to 1.38 then 1.40 is in sight. Looks like retail sentiment has shifted heavily bullish.

I see DXY on a major daily TL too, sitting right on it. They usually park price right at these significant turning points over the weekend. Tapering this year should send the dollar up ??
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