Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Cable Update (GBP/USD) without Idiots 22 replies

Why is GBPUSD called cable? 66 replies

Cable (GBPUSD) vs Euro (EURUSD) 26 replies

Is it just me or is cable acting random? 15 replies

cable short for gbpusd? 6 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

Quoting DrDave
{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.
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?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDMonthly.png Size: 12 KB
Good Vibes - In charts we trust
Pulchra All Time Return: -88.4%
Quoting trumps
{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}
I concur with your analysis trumps, I don't see long at all, if we go based on fibs structure, the bull moved failed to break the golden ration a sell signal occur which will make the price continuation of the original trend (downtrend)
Quoting DrDave
{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.
I think we different methods of defining trends, hence the confusion between us
Good Vibes - In charts we trust
Pulchra All Time Return: -88.4%
Quoting trumps
{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}
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.
The markets are speaking to you. Do you know their language? I M T
Quoting DrDave
{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.
So you are ignoring basic market structure???? just a question I come in peace
Quoting trumps
{quote} I think we different methods of defining trends, hence the confusion between us
We cannot compare a 4 H Chart / Trend

and a Monthly Chart
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 135 KB
Quoting 7division
{quote} So you are ignoring basic market structure???? just a question I come in peace
No, I don't ignore it. But it is certainly not of high priority, because I don't really care when/where a "control" swing reverses; I care about what unfolds on the TFs below the control TF.
The markets are speaking to you. Do you know their language? I M T
Quoting DrDave
{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.
Ok, I understand, a new higher TF uptrend is just beginning.
I also think the down trend (that I marked),is coming to an end.
However, based on the monthly reaction at previously marked resistance, I think we could in for some serious retracement before the new trend begins.
Good Vibes - In charts we trust
Pulchra All Time Return: -88.4%
Quoting parisboy
{quote} We cannot compare a 4 H Chart / Trend and a Monthly Chart {image}
I'm not.
Where did you get the idea I was trying to compare the two.
I never said anything about 4hr.

I was trying to understand what DrDave meant by a higher TF uptrend.
Good Vibes - In charts we trust
Pulchra All Time Return: -88.4%
Quoting parisboy
{quote} We cannot compare a 4 H Chart / Trend and a Monthly Chart {image}
Of course an H4 and MN chart can be compared. After all, look how the H4 swings move during the entire month that the MN1 bar is forming.

But outside of that, with the charts to Line Charts, zoom out, cover up the price and time axes, and just look at how the price line moves.

There is no difference in the structures that form. None. Do this with any TFs that you want, print them out, and give them to anyone and ask them what the TF is. The only correct guesses are the result of chance, not because of "clues" in the structure.

You can already see this with many "unmarked" images that I have posted. Without some "clues", there is no way to tell what TF those images are taken from.
The markets are speaking to you. Do you know their language? I M T
Quoting NotSoHard
Hidden
LOL
The markets are speaking to you. Do you know their language? I M T
A rate hike of 0.25% did not impress market participants. But bullish bias still stands.
Are the bulls serious?
Risk Management is of utmost importance!
A rate hike,
Then this
https://www.forexfactory.com/news/11...tells-observer

Confusion in the markets
Good Vibes - In charts we trust
Pulchra All Time Return: -88.4%
Quoting DrDave
{quote} At the time that I posted it, there was no need to specify TFs because it was merely an example. {image} Until MN8 turns down, no chance of the "big" direction being down.
MN1 = 1 minute? 1 month? Something else? Thanks, Mate.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
GBPUSD Monthly

Centered Moving Averages 16 (months° and 32 (months) have turned UP
Attached Images (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 165 KB Click to Enlarge Name: screenshot.png Size: 150 KB
Quoting NotSoHard
Hidden
Did I missed the party, wtf is going on? Waverick actually directed that message to me????
Quoting NotSoHard
Hidden
Hello mate, first and foremost I do want you to know that this post is not intended to attack or confront you in anyway. I don't see reasons Wave (Leon) should be attacked this way, as he's one of the best contributors in this thread and has been consistent for years here. I do assume you are new to this thread and you also have a lot to share to help others too. Please refrain from your attacks on Leon or any other member you may not agree with in the future. We have already lost a lot of fantastic contributors in this thread. Let's respect one another and politely disagree with one another too if need be. Your contributions are useful and I look forward to more useful posts from you.

Cheers,
George.
Swing and Intraday
Quoting TooSlow
{quote} MN1 = 1 minute? 1 month? Something else? Thanks, Mate.
A very common convention:
M minute
H hour
W week
MN month
Q quarter
Y year
The markets are speaking to you. Do you know their language? I M T
GBPUSD price action on the daily time frame is sideways. Price action was bullish for the first three days of last week but after market indecision on Thursday, bears seized on bullish missteps on Friday. Presently, bearish price action has printed a rejection candlestick below the horizontal resistance at the 1.35900/1.36420 area (red) and breaking below the 1.37450/1.35600 weekly supply zone (purple). However, the shadows on both ends of the bearish candlestick indicate that bears are not fully in control of market operation. We can expect further sideway, or even northward move, of price action in the early part of this week should bulls regain control of price action.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily_Feb. 6, 2022.png Size: 44 KB
Do your homework, follow the footprints of smart money
10 traders viewing now, 1 is a member:
altai