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Cable Update (GBPUSD)

  • #651,001
  • Feb 6, 2022 10:37am Feb 6, 2022 10:37am
Quoting Georginson
{quote} {image}
Thanks. You confirmed what I suspected.

I consider your Weekly down trend (which indeed, I agree is a down trend), to be a mere pullback in a larger uptrend. And the Weekly, being a rather larger TF, offers MANY opportunities for both buying and selling on smaller TFs.
To free Gazans of Hamas, use whatever it takes.
  • #651,002
  • Feb 6, 2022 10:46am Feb 6, 2022 10:46am
Quoting TooSlow
{quote} Please annotate your chart so we may know precisely what we are looking at. Thanks, Mate. Cheers!
At the time that I posted it, there was no need to specify TFs because it was merely an example.

Attached Image

Until MN8 turns down, no chance of the "big" direction being down.
To free Gazans of Hamas, use whatever it takes.
  • #651,003
  • Feb 6, 2022 10:55am Feb 6, 2022 10:55am
Looking at monthly TF and major swing highs and lows since beginning of GFC, Pound is still in a down trend.
Compulsions can be hard to resist
  • #651,004
  • Feb 6, 2022 10:56am Feb 6, 2022 10:56am
Quoting trumps
A bearish cypher pattern on the monthly. Of particular interest to me is last months rejection of key resistance {image} {image}
Sequence of Lower highs and lower lows.
Compulsions can be hard to resist
  • #651,005
  • Feb 6, 2022 11:07am Feb 6, 2022 11:07am
Based on my system I don't really see a long move here, I see a 4hr trendline break on 61.8 fibs levels. I reckon market will move back down to 1.3373 before we go back up again...
  • #651,006
  • Feb 6, 2022 11:41am Feb 6, 2022 11:41am
Quoting 7division
Based on my system I don't really see a long move here, I see a 4hr trendline break on 61.8 fibs levels. I reckon market will move back down to 1.3373 before we go back up again...
Hi 7division,
You are a new poster here and welcome,
The thing is that you won't grab an audience by just posting what you think the market is gonna do. Give some descriptive-analytical views with pictures and an outcome to gain confidence from the audience. Once you have that you will gain attention from the community here.
All the best,
Cheers.
Trade to trade another day
  • #651,007
  • Feb 6, 2022 11:49am Feb 6, 2022 11:49am
Let's begin by the most cherished pair of Swede GBPUSD 1 mn

Chart here is the default screen chart given by TradingView
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 263 KB
  • #651,008
  • Feb 6, 2022 11:50am Feb 6, 2022 11:50am
Quoting MoneyZilla
does anyone knows where this pair is heading to? me is feeling a little confused... however, i still want to make a lot of money trading it!

its a confusing pair at the moment. im speculating down.
  • #651,009
  • Feb 6, 2022 11:51am Feb 6, 2022 11:51am
https://www.bnnbloomberg.ca/boris-jo...rver-1.1719191

This could sink the Pound
Attached Image
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #651,010
  • Feb 6, 2022 11:52am Feb 6, 2022 11:52am
Quoting Wavegarrick
{quote} Hi 7division, You are a new poster here and welcome, The thing is that you won't grab an audience by just posting what you think the market is gonna do. Give some descriptive-analytical views with pictures and an outcome to gain confidence from the audience. Once you have that you will gain attention from the community here. All the best, Cheers.
Wave G,

you keep this place alive, keep it up!
Daddy, Brother, Lover, Little Boy
  • #651,011
  • Feb 6, 2022 11:53am Feb 6, 2022 11:53am
yes gbp had a nice run so you are correct sir. It could sink it indeed. Thanks for posting.
  • #651,012
  • Feb 6, 2022 11:53am Feb 6, 2022 11:53am
GBPUSD 1 mn Price Range = 1,35380 - 1, 35230 = 0,00150

We calculate the Octave (Gann) : 0,00150 / 8 = 0,0001875

Let's use this parameter to buil the Envelope 32

Centered Moving Average 32 - offsetted 16 Time Units back + /- 0,0001875

You get this Chart . Not bad isn't it ?
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  • #651,013
  • Feb 6, 2022 11:55am Feb 6, 2022 11:55am
To build the Envelope 128 you just DOUBLE the Envelope 32 parameter

Envelope 128 parameter = 2 x 0,0001875

To build the Envelope 256 , you repeat the process you DOUBLE the Envelope 128 parameter

Envelope 256 parameter = 2 x 0,000375 = 0,00075

You get this chart
Attached Image (click to enlarge)
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  • #651,014
  • Feb 6, 2022 11:57am Feb 6, 2022 11:57am
Not terrible . What to do to solve the problem and get an operative chart ?

You DOUBLE again the parameters

You get this chart which is much more operative for this Timeframe and this screen.

Let's remember that this screen shows you the maximum data possible in 1 mn using TradingView
Attached Image (click to enlarge)
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  • #651,015
  • Feb 6, 2022 12:00pm Feb 6, 2022 12:00pm
If the previous chart is not to your taste , you DOUBLE again the parameters

You get this chart which is also operative

Note that both operative charts gives you the same informations relatively to the Trend(s)
Attached Image (click to enlarge)
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  • #651,016
  • Feb 6, 2022 12:02pm Feb 6, 2022 12:02pm
in short we have determined that 0,0001875 is the DNA of GBPUSD

ALL Charts were built on this initial parameter

But what about others Time Units

Let's try with a GBPUSD 5 mn Chart

Keeping the 1 mn parameters I could live with this 5 mn Chart
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  • #651,017
  • Feb 6, 2022 12:05pm Feb 6, 2022 12:05pm
For this GBPUSD 15 mn Chart I will DOUBLE the parametrs again
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  • #651,018
  • Feb 6, 2022 12:06pm Feb 6, 2022 12:06pm
Quoting trumps
Looking at monthly TF and major swing highs and lows since beginning of GFC, Pound is still in a down trend.
I said earlier that indeed MN1 (and MN2) is in a downtrend, and this down trend is a PULLBACK in a larger up trend.
To free Gazans of Hamas, use whatever it takes.
  • #651,019
  • Feb 6, 2022 12:06pm Feb 6, 2022 12:06pm
For this GBPUSD 30 mn Chart you can keep the prevvious parameters or DOUBLE the parametrs again - your taste

Do you get the general idea ?
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  • #651,020
  • Feb 6, 2022 12:09pm Feb 6, 2022 12:09pm
For this GBPUSD 1 Hour Chart IMHO you can keep the prevvious parameters no need to DOUBLE them
Attached Image (click to enlarge)
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