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Cable Update (GBPUSD)

  • #634,741
  • Oct 29, 2021 1:14pm Oct 29, 2021 1:14pm
Based on the fact the daily is down and weekly is up making the daily swing corrective , i was racking my brains to work out what the strange pattern was on H1, well the answer lays in the running flat, probably one of the most difficult corrective patterns to recognise let alone trade as we saw today most traders only caught on to the short more than half way through the swing down after the running flat.

So it is a possibility that next week will be bullish after the daily correction and we shall move back inline with the weekly.

In case anyone is wondering why i look at daily and weekly but trade off the hourly , it is due to the fact the internal structure of the daily at its lowest level is to be found on H1 in the form of the larger degree swings, you can see in the price action chart the smaller waves that scalpers trade make up the larger degree swings that i look at and attempt to trade

The one to the right is a running flat in a downtrend or down correction
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Now take a look at the actual price action

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Follow The Markets Structure - Patience and Discipline
  • #634,742
  • Oct 29, 2021 1:20pm Oct 29, 2021 1:20pm
All these traders profiting today. This is very nice to see... Have a good weekend everyone.
  • #634,743
  • Oct 29, 2021 1:23pm Oct 29, 2021 1:23pm
Quoting Moty
ty m mister goldi it's always good place to counter , when price reaches daily r3 or s3 {image}
My lasttraade .... Gold... for this week...

Gold
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And GbpUsd
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God bless you Moty and God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #634,744
  • Oct 29, 2021 1:26pm Oct 29, 2021 1:26pm
Quoting Pat Chiko
{quote} GU (QM) Quick money. Hardly any drawdown. Those are take profit zone, as many traders are closing their position for the weekends. Taking advantage on their buy ( by closing short), we just ride with them on the momentum {image}
GU

TRADE MANAGEMENT.

Sometimes, price may not reach target.

We may opted to TP partially

Moved to Positive Stop to protect account.

Closed all ,as this is weekend trade.

If under normal days, you may continue to target, as price is seeking for liquidity. ( target zone)

End Friday with thinning volume, we may get spike out.

Take care and best in trades next week.

PAT

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #634,745
  • Oct 29, 2021 1:40pm Oct 29, 2021 1:40pm
Quoting Bones
if the fed loose the narrative ,this is what's possible ,but the monthly is still potential bullish this was a trend line after all ,but trouble ahead ,even EU is potential bullish on the monthly {image} {image}
Most likely DXY/USDi will complete its target (W1) based on the "W" formation. Im afraid what will be for BTC. But the question is "when"? Hope the BXY/GBPi gathers momentum and drops significantly hard as well to make it happen so fast.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #634,746
  • Oct 29, 2021 1:50pm Oct 29, 2021 1:50pm
As you can see, the price is in a downtrend and prior to today's impulse drop, the price was clearly moving along important levels.
Despite the fact that the price has broken through S1, I am waiting for a retest to it and will look for an entry to sell after the reversal formation appears.
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  • #634,747
  • Edited 2:40pm Oct 29, 2021 2:17pm | Edited 2:40pm
Quoting pipibrasci
{quote} UPDATE (Possible scenario). ANALYSIS CONTINUE OVER THE WEEKEND.. NICE WEEKEND BRETHEN. {image}
Now this (GBPUSD) is looking more interesting with the Fib levels drawn alongside S/R lines. MY overall Bias for the POUND/DOLLAR is BEARISH

TARGETS:

(1.3620/1.3615)

(1.3570)
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #634,748
  • Oct 29, 2021 2:24pm Oct 29, 2021 2:24pm
Quoting LvMMT
{quote} My lasttraade .... Gold... for this week... Gold {image} And GbpUsd {image} God bless you Moty and God bless everyone!
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Good night or day folks!
God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #634,749
  • Oct 29, 2021 2:34pm Oct 29, 2021 2:34pm
Cheers to Bears... Did a great Job keeping the Price below 1.3830... now expecting 1.3150 by or before end of December as far as 1.3830 stays unbroken.

Wait for Possible November Scenario analysis.

Cheers,
George.
Data + Stat + Risk/Emotions Management
  • #634,750
  • Oct 29, 2021 3:23pm Oct 29, 2021 3:23pm
Bears are back in town
Inserted Video
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Compulsions can be hard to resist
  • #634,751
  • Oct 29, 2021 3:24pm Oct 29, 2021 3:24pm
Quoting Georginson
Cheers to Bears... Did a great Job keeping the Price below 1.3830... now expecting 1.3150 by or before end of December as far as 1.3830 stays unbroken. Wait for Possible November Scenario analysis. Cheers, George.
I’m with you, we may see a slight up towards next week BoE announcement especially if rates increase. But overall this baby could is tanking big time
Insane in the Brain..
  • #634,752
  • Oct 29, 2021 3:32pm Oct 29, 2021 3:32pm
Quoting Nordling00
{quote} I looked at PCE too, and it came out as expected. It's uncalled for market to expect a news which come out just as expected. So it's the GDP that makes the difference, not PCE
unfortunately its only you that believe that or can prove it ,its your own special theory...
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #634,753
  • Oct 29, 2021 3:40pm Oct 29, 2021 3:40pm
the monthly looks bullish to me ,more bullish than I thought it could be at that time ,however I don't argue with the weekly off bat ,if your reading price over distance
I wouldn't try to break it down whatsoever in November
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #634,754
  • Oct 29, 2021 3:42pm Oct 29, 2021 3:42pm
Quoting Bones
{quote} unfortunately its only you that believe that or can prove it ,its your own special theory... {image}
Okay let's put my theory aside. Let's look at the things with the general perspective:

US PCE came out just as expected. No change between the forecast and the actual numbers. Why would it be bullish?

Euro Area Inflation came out more than expected. Actual numbers were more than the forecast. Why would it be bearish?

Can you explain this?
You have to have an IQ higher than 90 to interact with this user.
  • #634,755
  • Oct 29, 2021 3:44pm Oct 29, 2021 3:44pm
Quoting Bones
{quote} unfortunately its only you that believe that or can prove it ,its your own special theory... {image}
Sorry i wrote expect instead of reaction. So the question there is "why would the market react a news if it came out just as expected?"
You have to have an IQ higher than 90 to interact with this user.
  • #634,756
  • Oct 29, 2021 3:52pm Oct 29, 2021 3:52pm
Quoting Nordling00
{quote} Okay let's put my theory aside. Let's look at the things with the general perspective: US PCE came out just as expected. No change between the forecast and the actual numbers. Why would it be bullish? Euro Area Inflation came out more than expected. Actual numbers were more than the forecast. Why would it be bullish? Can you explain this?
I can see with my own eyes it reacted to that news ,thats good enough for me
I can see the reaction of bearish to the GDP No lower than expected right there in real time ,
I'm not doing pie in the sky Nordling theory's that can't be proven and is nutty to any sane person to boot.
Find me one article where green GDP numbers are bad for any country
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #634,757
  • Oct 29, 2021 3:54pm Oct 29, 2021 3:54pm
Looks like a retest of the July/August bounce area and September break to me
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Compulsions can be hard to resist
  • #634,758
  • Oct 29, 2021 4:03pm Oct 29, 2021 4:03pm
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Compulsions can be hard to resist
  • #634,759
  • Oct 29, 2021 4:09pm Oct 29, 2021 4:09pm
Quoting Bones
{quote} I can see with my own eyes it reacted to that news ,thats good enough for me I can see the reaction of bearish to the GDP No lower than expected right there in real time , I'm not doing pie in the sky Nordling theory's that can't be proven and is nutty to any sane person to boot. Find me one article where green GDP numbers are bad for any country
Dude rather than attacking me just answer my questions. Explain your view. I try to have a respectful discussion here where i can maybe learn and add few things to my system. Also other members can benefit this discussion too.

I try to put my view to aside and understand your perspective. That's why those two questions mean a lot to me. You made me doubt myself, now i am looking for the reasons that supports your view. So i can compare and i can get a healthy result.
You have to have an IQ higher than 90 to interact with this user.
  • #634,760
  • Edited Oct 30, 2021 3:17pm Oct 29, 2021 4:16pm | Edited Oct 30, 2021 3:17pm
ok lets look at the theory
why are they new $'s when GDP goes up in normal times ? (money printing is new money ,it's expanding the money supply V goods & services = inflationary )
The idea of GDP is see how busy a country is ,its growth using money spent internally as the metric .
I'm sure we can agree that the banks expanding the money supply against something tangible is something else entirely different to monetising debt for a government to distribute.

If I want to build a house I borrow the money from a lender ,this is brand new money from a keyboard .
I build the house.
I pay off the debt - I could sell the house for profit or go over time payments.
But I have a house that never existed which is productive, meanwhile the debt has an asset offset while it's being paid off/destroyed forever...
The bank makes money from the interest charged which is a productive service rather than a government paying 0% short term rates then continually rolling over for nothing on those $'s .

If I can say a rising real GDP is the best kind of inflation ,
no problem at all V the benefits or V outright printing of non-productive/unbacked inflationary $'s that can only be taxed/charged out of the largely closed system .
This is a major cost to the poor specifically and benefit to asset holders.
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In a nutshell not all new money is equal at all.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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