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Cable Update (GBPUSD)

  • #624,281
  • Sep 19, 2021 5:34am Sep 19, 2021 5:34am
i am expecting 1.40 before i can condisder this


according to fibo ABC i expect this move to play out

this are my personal view the way i read the market
it can fail so therefore i am not responsible for the Gain or loss
Attached Image (click to enlarge)
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MY OPINION NOT FINANCIAL ADVISE
  • #624,282
  • Sep 19, 2021 5:35am Sep 19, 2021 5:35am
Quoting BigNumbers
When the sell signal is from the monthly time frame be careful! even the daily support becomes invalid... buy and sell the triangle while waiting for the break out. prices are close to the resistance so it is advisable to sell at the moment... {image} {image}
Again and again; I’m emphasizing on the Gravitational Fall this September! The monthly resistance candle is filled, broken and done retesting. Price May continue to range in this triangle but when it falls off the triangle. It will fall like an earthquake.
Sell, sell, sell
My telegram: https://t.me/avidforex
  • #624,283
  • Sep 19, 2021 5:39am Sep 19, 2021 5:39am
another view that daily look like a rising wedge

a rising wedge is an abcde correction that trap buyers and then the market drop heavily.
MY OPINION NOT FINANCIAL ADVISE
  • #624,284
  • Sep 19, 2021 5:55am Sep 19, 2021 5:55am
the chart is clear

i am not expecting much from fomc this week until next year.
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MY OPINION NOT FINANCIAL ADVISE
  • #624,285
  • Sep 19, 2021 6:23am Sep 19, 2021 6:23am
Quoting nAVIN2007
{quote} not being funny but this is looking bullish to me
yea ,but I was thinking the range would hold and it could end like that one into res ,anyway thats a major pivot
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #624,286
  • Sep 19, 2021 6:23am Sep 19, 2021 6:23am
Quoting OAPDave
{quote} Is September a good month to Look to Buy or Sell ? {image}
You know there is no certainty in the forex market but I am heavily bearish on this pair to at least 1.35 area in days ahead and 1.30 in weeks ahead.
Data + Stat + Risk/Emotions Management
  • #624,287
  • Sep 19, 2021 6:36am Sep 19, 2021 6:36am
I would go into this news $ bearish because theres here no way their taking any notice of data ,but if they were im sure there go on about the unachievable full employment...
They simply cannot slow it as the economy is that shredded on stimulus ,one godawful world economy is currently being built like never before
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #624,288
  • Sep 19, 2021 6:49am Sep 19, 2021 6:49am
https://twitter.com/Reuters/status/1438143063306690560
not euphoria follower
  • #624,289
  • Sep 19, 2021 6:52am Sep 19, 2021 6:52am
Quoting bilal.cybrog
{quote} So you are saying that first it will hit 1.3700 and bounce up to 1.3770 which is your target or the other way around? Please do reply for learning purpose thanks.
[quote][ No one knows up first , drop fiirst, up up up or drop drop ..... /quote]
Iqyu5an answered that for me.
Cheers.
Trade to trade another day
  • #624,290
  • Sep 19, 2021 7:00am Sep 19, 2021 7:00am
[quote=Wavegarrick;13712134]{quote}
Quote
[ No one knows up first , drop fiirst, up up up or drop drop ..... /quote] Iqyu5an answered that for me. Cheers.
yes, no one knows whether price goes up or down.

Predicting the PA will lead to disaster.. we all know.

Better to trade what we see in chart.

Whether it is 15 pips or 150 pips... just trade what we see.
Intraday only.
  • #624,291
  • Sep 19, 2021 7:17am Sep 19, 2021 7:17am
[quote=navk;13712136]
Quoting Wavegarrick
{quote} {quote} yes, no one knows whether price goes up or down. Predicting the PA will lead to disaster.. we all know. Better to trade what we see in chart. Whether it is 15 pips or 150 pips... just trade what we see.
Georginson & OnlineAddict know where the price is going and they make a lot of profits, just a word no chart Keeping it simple
Attached Image
  • #624,292
  • Sep 19, 2021 7:22am Sep 19, 2021 7:22am
[quote=snowflower;13712141]
Quoting navk
{quote} Georginson & OnlineAddict know where the price is going and they make a lot of profits, just a word no chart Keeping it simple {image}
Point of correction, not all traders can use chart to give their bias and I happen to be one of those traders. Secondly, I am flexible enough to know when the bias will no longer work as the market is ultra dynamic. Thirdly I give numerous reasons and statistical analysis to back my bias with warning of no obligation to follow. I don't like this subtle dig at us.

Quoting OAPDave
{quote} So do you look at all Septembers to see if there are more ups than downs Have you looked at Octobers in relationship to September to guesstimate if its going to be an up or down month The idea's are endless if you have the data ps Is it better to trade after a low range month or a high one ?
There are no consistencies in the direction of Septembers, but there is certain level of consistency in the ranges of Septembers which is usually between 500 - 800 pips. The alternate way to look at the price is to identify resistance and support zones in the short and medium term... The short/medium term resistance zones are 1.3918/1.4000, while the short/medium term support zones are 1.3670/1.3570. As far as price keeps staying below 1.3918 area, it means 1.3670/1.3570 area is under attack and this tight range we have been seeing for the past months must break to either 1.45 or 1.30 area before this year will end.

I hope this explains it to an extent.
Data + Stat + Risk/Emotions Management
  • #624,293
  • Sep 19, 2021 7:41am Sep 19, 2021 7:41am
[quote=snowflower;13712141]
Quoting navk
{quote} Georginson & OnlineAddict know where the price is going and they make a lot of profits, just a word no chart Keeping it simple {image}
hmm..

I agree if their chart says that.

What I meant to say is predicting does not work.

We may expect FIBO 38 % to hold on retrace... it does not.

It tests 50 % , we expect this to hold... no.

It goes to 68 % FIBO.

And one day we see a 100 % FIBO to retest.. and go on to 127 %.

Usually 127 % FIBO is strong... but if it is revesal pattern... it may fall 38 % and run up again.

So, what I mean to say, if you see a trade for 20 pips in your chart trade that.

If you see 150 pips in the chart, trade that.

See the chart and decide the trade instead of predicting.

This is my view only.
Intraday only.
  • #624,294
  • Sep 19, 2021 7:52am Sep 19, 2021 7:52am
Quoting Bones
I would go into this news $ bearish because theres here no way their taking any notice of data ,but if they were im sure there go on about the unachievable full employment... They simply cannot slow it as the economy is that shredded on stimulus ,one godawful world economy is currently being built like never before {image}
I think so. After full employment achievable, fed will make a dicision to tapering
  • #624,295
  • Sep 19, 2021 8:05am Sep 19, 2021 8:05am
what goes up has to come down... and vice versa.

Only if the price goes in both directions, one can make money.

We have to see if the U turn is in 30 chart first, this gives some pips.

The U turn in 30 min chart eventually becomes U turn in 1 hr..4hr and daily chart like that.

If you trade on 30 min chart, take 30 to 40 pips until it stops/ stalls or even before.

If You see U turn in 4 hr chart, take those pips.

Do not predict a 30 min chart U turn will give 70 pips... a number.

My view and experience.
Intraday only.
  • #624,296
  • Sep 19, 2021 8:13am Sep 19, 2021 8:13am
my experience last Friday.

Took a long entry in 30 min chart and clear and confirmed profit booking level is daily pivot.

Usually i book that profit.

On last Friday , being friday, the long entry lot size was less and when price tested daily pivot, the $$$ profit was less and so did not want to book profit,

I ended up giving back from capital and the trade took my stop loss level at 3774.

I was not comfortable in shorting on friday, I waited for support at which I can take risk and make long entry.

It happened at 3742 and took 8 lots long entry and booked 15 pips.

That bounce was worth 15 pips as per my chart as the move up had stalled after 15 pips.

It is just 5 min chart entry and exit.

Usually I trade on 30 min chart.
Intraday only.
  • #624,297
  • Sep 19, 2021 8:14am Sep 19, 2021 8:14am
Quoting navk
Quoting snowflower
{quote} hmm.. I agree if their chart says that. What I meant to say is predicting does not work. We may expect FIBO 38 % to hold on retrace... it does not. It tests 50 % , we expect this to hold... no. It goes to 68 % FIBO. And one day we see a 100 % FIBO to retest.. and go on to 127 %. Usually 127 % FIBO is strong... but if it is revesal pattern... it may fall 38 % and run up again. So, what I mean to say, if you see a trade for 20 pips in your chart trade that. If you see 150 pips in the chart,
...
but they predict and it works, anyway sorry I don't use a fibo as you say

Quoting Georginson
Quoting snowflower
{quote} Point of correction, not all traders can use chart to give their bias and I happen to be one of those traders. Secondly, I am flexible enough to know when the bias will no longer work as the market is ultra dynamic. Thirdly I give numerous reasons and statistical analysis to back my bias with warning of no obligation to follow. I don't like this subtle dig at us. {quote} There are no consistencies in the direction of Septembers, but there is certain level of consistency in the ranges of Septembers which is usually
...
and you are a swing who behaves like a scalper, you know what I mean ( NOISE )
  • #624,298
  • Sep 19, 2021 8:18am Sep 19, 2021 8:18am
Quoting snowflower
{quote}{quote} but they predict and it works, anyway sorry I don't use a fibo as you say {quote}{quote} and you are a swing who behaves like a scalper, you know what I mean ( NOISE )
chart will not lie.
Intraday only.
  • #624,299
  • Sep 19, 2021 8:43am Sep 19, 2021 8:43am
Quoting navk
Quoting snowflower
{quote} hmm.. I agree if their chart says that. What I meant to say is predicting does not work. We may expect FIBO 38 % to hold on retrace... it does not. It tests 50 % , we expect this to hold... no. It goes to 68 % FIBO. And one day we see a 100 % FIBO to retest.. and go on to 127 %. Usually 127 % FIBO is strong... but if it is revesal pattern... it may fall 38 % and run up again. So, what I mean to say, if you see a trade for 20 pips in your chart trade that. If you see 150 pips in the chart, trade that. See the chart
...
Hi
how can i draw best zones in GBPUSD H1 for day trading ?
  • #624,300
  • Sep 19, 2021 8:44am Sep 19, 2021 8:44am
Quoting navk
my experience last Friday. Took a long entry in 30 min chart and clear and confirmed profit booking level is daily pivot. Usually i book that profit. On last Friday , being friday, the long entry lot size was less and when price tested daily pivot, the $$$ profit was less and so did not want to book profit, I ended up giving back from capital and the trade took my stop loss level at 3774. I was not comfortable in shorting on friday, I waited for support at which I can take risk and make long entry. It happened at 3742 and took 8 lots long entry...

i trade daily for 100-200 pops and 1hr for 25-50 pips I don’t pick trade from anything lower than 1hr and higher than daily . It’s hard to predict but in other way you need to know what the chart is saying failure to read the chart is pure gambling
MY OPINION NOT FINANCIAL ADVISE
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