Cable Update (GBPUSD)

Quoting parisboy

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For this GBPUSD 4 Hour Chart IMHO obviously you need to DOUBLE the previous parameters to generate a useful operative chart {image} {image}

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Quoting MoneyZilla

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{quote} this looks dangerously bullish, unless pipi in his post 651,022 is correct and the shift down starts because of the pm change? which sounds fairly stupid reason to me. but they can do whatever they want, based on anything they like...

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Quoting Wavegarrick

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{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.

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Quoting Robinhood1

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Weekend breaks are good for reflecting. I read friday´s posts today basically and out of all short term scenarios i like mother Teresa´s. In my continously learning process i will turn my positions around asap (with some profits) to reach around 14450/4500 mid long term. I maybe wrong

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Quoting Robinhood1

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{quote} I will close my shorts with some profits and decided to go long against all the comunity´s odds(mainly). Think support could be around 13492. I may be wrong

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Quoting Robinhood1

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What is a SL?

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Quoting Robinhood1

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{quote} I will close my shorts with some profits and decided to go long against all the comunity´s odds(mainly). Think support could be around 13492. I may be wrong

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Quoting DrDave

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{quote} I said earlier that indeed MN1 (and MN2) is in a downtrend, and this down trend is a PULLBACK in a larger up trend.

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Quoting trumps

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{quote} What is MN1 and MN2? Month 1, Month 2? I am going by the definition of a trend as being a sequence of higher highs and higher lows (up trend) or A sequence of lower highs and lower lows (Down trend) Attached, is the GBPUSD larger timeframe down trend. Where is the Larger TF uptrend? {image}

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Quoting DrDave

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{quote} I said earlier that indeed MN1 (and MN2) is in a downtrend, and this down trend is a PULLBACK in a larger up trend.

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Quoting trumps

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{quote} What is MN1 and MN2? Month 1, Month 2? I am going by the definition of a trend as being a sequence of higher highs and higher lows (up trend) or A sequence of lower highs and lower lows (Down trend) Attached, is the GBPUSD larger timeframe down trend. Where is the Larger TF uptrend? {image}

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Quoting DrDave

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{quote} What is MN1 and MN2? Month 1, Month 2 Yes. My basic trend also requires 3 swings. However, when I see 4 consecutive TFs in up swings with the smallest one is just ending a first pullback, that is enough for me to mark that one as in an uptrend.

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Quoting trumps

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{quote} I think we different methods of defining trends, hence the confusion between us

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Quoting 7division

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{quote} So you are ignoring basic market structure???? just a question I come in peace

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Quoting DrDave

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{quote} What is MN1 and MN2? Month 1, Month 2 Yes. My basic trend also requires 3 swings. However, when I see 4 consecutive TFs in up swings with the smallest one just ending a first pullback, that is enough for me to mark that one as in an uptrend. In addition, I have criteria for determining that a swing has most probably ended that aids in support of a new swing underway. So when a swing has reached its probable end, I can already make a decision as to whether to consider the new swing as a retracement or the start of a trend reversal.

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