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Cable Update (GBPUSD)

  • #638,781
  • Nov 13, 2021 2:33am Nov 13, 2021 2:33am
Quoting Charlie
{quote} Word of advice, don't tell people what they should do or not do unless they ask for your input. Better to let people know what you are going to do and and leave it at that.
In an open forum, I think this is the best approach. Agree!
  • #638,782
  • Nov 13, 2021 2:53am Nov 13, 2021 2:53am
Quoting TooSlow
{quote} That is how I would chart it. I studied your original chart and it looked like you were plotting the highs of a "turn trade" bar with entries on the "continuation" bar. Those are #advancedalientrading trading techniques. Cheers, Mate!
ah yes, i know what you mean, lem tought me this;-)

but now its clear to me, simple and clear line in the sand. thx.
trading is like dancing, don't think and just listen to the music!
  • #638,783
  • Nov 13, 2021 2:55am Nov 13, 2021 2:55am
Quoting TooSlow
{quote} {image} The blue diamonds show the lowest high for the last 34 candles. Enter when the price is crossing above. The red diamonds show the highest low for the last 34 candles. Enter when the price is crossing below. Cheers!
i like diamonds;-)

may i ask you where i can find an indicator for this? thx.
trading is like dancing, don't think and just listen to the music!
  • #638,784
  • Nov 13, 2021 3:16am Nov 13, 2021 3:16am
Quoting Kimmymore
VIP LINE : 1.33811 & 1.34021 GU > VIPLINE >>>>>>> GU WILL FLY NEXT WEEK. GU < VIP LINE >>>>>> GU WILL TOUCH 1.331XX. ================= NEXT WEEK MY EYES : GU > VIPLINE. TP BUY 1 = 1.35025. TP BUY 2 = 1.354XX. This is my schematics with a red candle. {image} {image} {image}
Hi Kim

To know more about your system, from where you get these blue vip lines or basis to mark them.
"Exchange of hands"
  • #638,785
  • Edited 4:49am Nov 13, 2021 3:50am | Edited 4:49am
I hope everyone here had a good week just closed and a good one to come.

Fundamentally speaking we are seeing the U.s economy coming back strong from covid with the passing of Biden's Infrastructure bill, albeit watered down, strongish jobs growth, and a pick-up in inflation, all leading to $ strength. In the Uk we have a govt mired in sleaze (yes it's deja vous with the typical tory 'pigs @ the trough' sleaze variety,) N.I protocol problems (always problems re NI and the unionists,) re Brexit/Eu, and supply chain and labour shortage problems in the wider economy, all contributing to a sluggish recovery from covid, and again a pick-up in inflation. It's the double whammy of Brexit borne and Covid recovery problems here, all resulting in £ weakness. History repeats does it not,? and we never learn the lessons, or @ least don't want to lean them /choose the more politically expedient way of not doing, ie it wouldn't be the first time a govt (s) have inflated their way out of economic holes. Let's hope history does keep repeating though (for us at least) as all our edges are built on that basic premise, lol. At the most basic/fundamental level our charts reflect repeating patterns of market behaviour.

The technicals support and reflect the above with a downtrend (per fractal swing analysis) from at least 4hr, to the wkly t/f. We saw a new current yrly lo/said downtrend lo this last week @ 3353 and a pullback to a current pullback hi of 3425 off it on Friday. 1hr is showing some small signs of strength with last few fractal prints being H, HL, LH, L, H, HL. Fri's 3425 hi challenged the bottom of the prev 1hr/4hr/dly}x2/minor wkly sw lo = prev supp = pot sbr that began @ 3411/3424 and on 4hr extends to 3444, and on wkly to circa 3535, so supply could emerge again in it on any subsequent test/higher pullback. To the downside below the now prev 1hr/4hr sw lo zone = prev supp = pot supp extending to that 3353 lo, there are some prev swing lo's some of which extend to wkly t/f, and these are to 3304, 3188. 3133 and 3107 next.

None of us know what will happen next but as the 3411-3834 move and the more recent but less dramatic 3424-3607 move shows, pullbacks in trends (in this case a downtrend) can be deeper/longer lasting than any of us imagine. So far the pullbacks in the move down from 3834 - 3353 (3736-3829, 3709-3815, 3605-3698, 3434-3607, ) have an average pip length of 116pips, and the current 3353- current 3425 is 72pips. A move above 3432 would result in a H on 4hr above the last LH
in it's downtrend. To the upside the next real 3 fib cluster resides @ 3579-86.

4hr is below.
Attached Image (click to enlarge)
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Trader with an Edge.
  • #638,786
  • Nov 13, 2021 5:00am Nov 13, 2021 5:00am
Quoting Headland
I hope everyone here had a good week just closed and a good one to come. Fundamentally speaking we are seeing the U.s economy coming back strong from covid with the passing of Biden's Infrastructure bill, albeit watered down, strongish jobs growth, and a pick-up in inflation, all leading to $ strength. In the Uk we have a govt mired in sleaze (yes it's deja vous with the typical tory 'pigs @ the trough' sleaze variety,) N.I protocol problems (always problems re NI and the unionists,) re Brexit/Eu, and supply chain and labour shortage problems in...
There should be a bounce from this 1.33 area. THE DXY is at 95, a yearly high while GBP is at a yearly low and both the UK and U.S. CPI data is running hot. Neither has hiked but the BOE it seems is closer to doing so rather than the FED.
Be humble or be humbled.
  • #638,787
  • Nov 13, 2021 5:25am Nov 13, 2021 5:25am
I'm a scalper. But sometimes I have to keep my position for a few days.
they don't trade the funds but I don't have an open position under the news, I pay close attention to that.
I can't predict where the price will go on Monday. because the price can change direction at any time. now it looks good to short.
this short I think is the good direction now, of course not knowing how long it is good.
  • #638,788
  • Nov 13, 2021 5:34am Nov 13, 2021 5:34am
Quoting Jolita
I was reading Forbes article about crypto https://www.forbes.com/advisor/inves...ptocurrencies/ Pay attention at the growth figure for Shiba Inu. Mar 21 price was $0.0000000014 Price as of today $0.00008000. This is 5,714,285% growth compared with BTC 13,600% all time return. Now think about a figure you could invest, calculate the return. Which one you would choose to invest into over next 5 years?

I hoping u will tell me...my friend keeps going on about crypro
  • #638,789
  • Nov 13, 2021 5:36am Nov 13, 2021 5:36am
i will put up some live trades here from monday.
see if you can help someone.
  • #638,790
  • Nov 13, 2021 5:51am Nov 13, 2021 5:51am
Attached Image (click to enlarge)
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  • #638,791
  • Nov 13, 2021 6:00am Nov 13, 2021 6:00am
Quoting nAVIN2007
{image}
i see you are trading the basics + s / r + trend channel.
this type of trading requires a completely different mindset than a scalper.
  • #638,792
  • Nov 13, 2021 6:17am Nov 13, 2021 6:17am
Quoting nAVIN2007
{image}
imho current bearish pressure is kinda correction wave ( ABC or ABCXABC ) . Compared to motive wave from 1.14 to 1.42 and only +/- 45 days to close 2021 , this correction is relative slow in my side . so i tried to reduce my bearish bias on this pair.
Just a lazy thought in rainy weekend , don't take it so serious

have a great weekend
not euphoria follower
  • #638,793
  • Nov 13, 2021 6:35am Nov 13, 2021 6:35am
Quoting tiborf71
{quote} i see you are trading the basics + s / r + trend channel. this type of trading requires a completely different mindset than a scalper.

how is scalper different..?
  • #638,794
  • Nov 13, 2021 6:40am Nov 13, 2021 6:40am
Quoting iqyu5an
{quote} imho current bearish pressure is kinda correction wave ( ABC or ABCXABC ) . Compared to motive wave from 1.14 to 1.42 and only +/- 45 days to close 2021 , this correction is relative slow in my side . so i tried to reduce my bearish bias on this pair. Just a lazy thought in rainy weekend , don't take it so serious have a great weekend

dangerous to buy..trendline in weekly far to close
Attached Image (click to enlarge)
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  • #638,795
  • Edited 6:53am Nov 13, 2021 6:43am | Edited 6:53am
On Monday I look for a retrace to 1.3380 area to buy to 1.3450 area. Depending how it sets up ofc. Waiting for the dollar to pullback into h1 demand area as it is in a daily supply zone. Another scenario is that we take out Fri Low first.

On GU we're on a H4 demand level which caused around a 300 pip rally back in December. So is valid for at least a small bounce

This is for intraday/scalping, overall structure is bearish

Price currently sitting in h1 supply zone which has been weakened by bulls on Fri
  • #638,796
  • Nov 13, 2021 6:49am Nov 13, 2021 6:49am
Quoting nAVIN2007
{quote} how is scalper different..?
I do not deal with funds, so I make decisions based on changes in non-funds. However, I cannot have an open position during the news.

taking the funds into account means that it is very difficult to make the right decision.
i am purely a technical trader.
h1.
  • #638,797
  • Nov 13, 2021 7:24am Nov 13, 2021 7:24am
Nordling our wise owl.
  • #638,798
  • Nov 13, 2021 7:26am Nov 13, 2021 7:26am
Bones our other wise academic owl and Pat a ball of energy.
  • #638,799
  • Nov 13, 2021 7:29am Nov 13, 2021 7:29am
Quoting tiborf71
{quote} I do not deal with funds, so I make decisions based on changes in non-funds. However, I cannot have an open position during the news. taking the funds into account means that it is very difficult to make the right decision. i am purely a technical trader. h1.
let's just look at the news as an example, there are also problems with its interpretation. how to interpret correctly.
and even if interpreted well, the market sometimes makes no logical move at all.
  • #638,800
  • Nov 13, 2021 7:37am Nov 13, 2021 7:37am
E/G
not euphoria follower
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