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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Thought that daily support would break this week, but not to be.
Looks like could head back to 1.37
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Compulsions can be hard to resist
...3603-62 to the upside, and 3522-3490 to the downside are the wide prev dly sw hi/lo zones respectively that have contained price today and one of these will break @ some point. The prev sw hi zone to 3662 has repelled price back down at least 3 times now resulting in what will probably be two subsequent fractal sw hi's on this dly t/f in that zone, (the 2nd v.likely with close of today's candle,) ie 3627 then 3644. The prev sw lo zone to 3490 has repelled price at least three times also to send it higher and the subsequent fractal swings show on the 4hr and below, but on the dly. These are the immediate potential res and supp zones respectively on this dly t/f. Chart below shows these...the dark blue and the light blue zones either side of current price. (The asc dotted line is a provisional trend line as it doesn't join at least 2 fractal swings on this dly t/f yet.)

Currently the downside looks favourite for a break but a few hours ago you might have said an upside break was favourite, such is the yo-yoing in this 1hr/4hr/dly range consolidation.

1hr, 2hr, 4hr look H&Sy don't they? -or- even inversely H&Sy lol!

Dly below.
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Intraday swing trader @ 30min+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Quoting Learner-xx
was running in profits after the entry but Ended up scratching out with only $672 profit. As soon as they threw the hammer and consolidated, felt they might hold out that level until markets close, turns out that way. Now it's a 50/50 proposition that I ain't comfortable with. They could go up to the peak at \Monday open to form the second leg of the M or drop down Monday, trigger the stops of today's buyers {image} {image}
With all due respect, Demo trading is building your euphoric levels. Use small lot sizes! With that 10lots excitement, u will get into the real market overly expecting (get rich quick)henceforth, u will start the circle of doom (switching strategies/breaking rules).
Face 'ur fears & tame 'ur greed
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Quoting Headland
...3603-62 to the upside, and 3522-3490 to the downside are the wide prev dly sw hi/lo zones respectively that have contained price today and one of these will break @ some point. The prev sw hi zone to 3662 has repelled price back down at least 3 times now resulting in what will probably be two subsequent fractal sw hi's on this dly t/f in that zone, (the 2nd v.likely with close of today's candle,) ie 3627 then 3644. The prev sw lo zone to 3490 has repelled price at least three times also to send it higher and the subsequent fractal swings show...
next week i want to see 1.34500 for the bull , if the level not taken , not sure the up will lasting >.< , since level being tested so much
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
playing with 3month chart.
came up off support, with some line structures above and below
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Compulsions can be hard to resist
Quoting RCtrader
So many doji candles on gbpusd daily chart. Is a breakout to the upside in the making?
We need atleast 1 bullish candle to confirm that
12 month.
Has retested the major line, but we have been unable to close above the 2020 hammer
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Compulsions can be hard to resist
Quoting trumps
playing with 3month chart. came up off support, with some line structures above and below {image}

Hey Trumps

can you draw a fib on these points (1 to 0) and (1 to 2) highlighted lets see what levels price is sitting at? Maybe could give us a clue..
I see a "Walmart" formed. Levels 1.3664 and 1.32109 are significant as price would try to range at these levels for sometime or ever throughout the year! Who knows.
The reversal red candle forced price to 1,32109 level and we see a rejection from that level too and now failing to break the upper level of 1.3664.

Lets play around it this wkend although its a f***** 3 month chart.
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Grit; Knowledge; Positive Mindset, All you need to overcome. KIS!
Quoting pipibrasci
{quote} Hey Trumps can you draw a fib on these points (1 to 0) and (1 to 2) highlighted lets see what levels price is sitting at? Maybe could give us a clue.. I see a "Walmart" formed. Levels 1.3664 and 1.32109 are significant as price would try to range at these levels for sometime or ever throughout the year! Who knows. The reversal red candle forced price to 1,32109 level and we see a rejection from that level too and now failing to break the upper level of 1.3664. Lets play around it this wkend although its a f***** 3 month...
When I get the chance.
You can draw fibs?
I'm on phone
Compulsions can be hard to resist
Quoting trumps
{quote} When I get the chance. You can draw fibs? I'm on phone
No access to 3months data. What charting platform is that??
Grit; Knowledge; Positive Mindset, All you need to overcome. KIS!
Quoting trumps
12 month. Has retested the major line, but we have been unable to close above the 2020 hammer {image}
we have been unable to close above the 2020 hammer

That is because the MN1 and MN2 are in a pullback to the bigger up swing. After the pullback ends, then the up continuation will get well above that hammer.
To free Gazans of Hamas, use whatever it takes.
Quoting pipibrasci
{quote} Hey Trumps can you draw a fib on these points (1 to 0) and (1 to 2) highlighted lets see what levels price is sitting at? Maybe could give us a clue.. I see a "Walmart" formed. Levels 1.3664 and 1.32109 are significant as price would try to range at these levels for sometime or ever throughout the year! Who knows. The reversal red candle forced price to 1,32109 level and we see a rejection from that level too and now failing to break the upper level of 1.3664. Lets play around it this wkend although its a f***** 3 month...
To me, that starting 1 down to 0 seems to be an odd place to draw a Fib. I would look at the Nov. 2007 bar to the Sep. 2016 bar (or could even choose Feb. 2020, it won't matter). That is likely the Y3 down swing, and it is probably finished. So the upswing that you marked from 1-2 is highly likely the start of a new up trend, not a mere rally, and the drop from point 2 is a pullback in progress.
To free Gazans of Hamas, use whatever it takes.
Quoting DrDave
{quote} we have been unable to close above the 2020 hammer That is because the MN1 and MN2 are in a pullback to the bigger up swing. After the pullback ends, then the up continuation will get well above that hammer.
I agree
Compulsions can be hard to resist
Quoting pipibrasci
{quote} Hey Trumps can you draw a fib on these points (1 to 0) and (1 to 2) highlighted lets see what levels price is sitting at? Maybe could give us a clue.. I see a "Walmart" formed. Levels 1.3664 and 1.32109 are significant as price would try to range at these levels for sometime or ever throughout the year! Who knows. The reversal red candle forced price to 1,32109 level and we see a rejection from that level too and now failing to break the upper level of 1.3664. Lets play around it this wkend although its a f***** 3 month...
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Compulsions can be hard to resist
Quoting trumps
12 month. Has retested the major line, but we have been unable to close above the 2020 hammer {image}
Hi trumps,

since your chart is 12months candle, the current candle is a LIVE candle and has 10 months to go for close, you can not base your decisions or reading on live candle unless closed.

a weekly chart with period separator show 1 year/52 bars.
an indicator like Donchian Channel calculate high/low/50% of a period close (in this case 52 is the setting)
a ZZ with 13 setting give you the reading(HHHL-LHLL) of 3 months (1/4 of a year)

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from the chart you can see last year high broke per 2 years highs 2019-2020 but not 2018.
last year low gave you HL reading, if it holds, next reading should be HH.
"major line" you mentioned was the 50% of last year.

draw fib levels of last year so you can trade (if you wish) any lower TF based on year levels.

cheers,
"the public is not yet ready for it" W.D. GANN
unlucky
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Quoting Moty
unlucky {image}
what is the problem broh ?
not euphoria follower
Quoting iqyu5an
{quote} what is the problem broh ?
the problem is instead i will gain 55 pips at London open and then some more
what happened is my deposite was update after the big move that i expected , and i catch only little after it
and then i unluckily caught in a crush caused by mister mf Putin tweet about attacking Ukraine
Quoting Kwt4x
{quote} Hi trumps, since your chart is 12months candle, the current candle is a LIVE candle and has 10 months to go for close, you can not base your decisions or reading on live candle unless closed. a weekly chart with period separator show 1 year/52 bars. an indicator like Donchian Channel calculate high/low/50% of a period close (in this case 52 is the setting) a ZZ with 13 setting give you the reading(HHHL-LHLL) of 3 months (1/4 of a year) {image} from the chart you can see last year high broke per 2 years highs 2019-2020 but not 2018. last...
Your ZZ swings are marking off the MN1/MN2 swings. So, it is clear that MN3 with MN12 doesn't tell enough of the story: You need to check Y2 and Y3 as well. In fact, you should really look at the full historical record to see the down trend from about 1972-1985, then the up trend from 1985-2008, then down trend from 2008-2020.

And, as I said before, it is highly likely that this down trend has ended and a new up trend is in progress. Of course, because currently MN2 is most likely in a mere pullback, more time must unfold to determine if it remains a mere pullback, or if the swing up was actually just another rally rather than the start of the reversal.

Also, I think that making an arbitrary decision to trade based on yearly levels is very illogical. Swings do not adhere to some calendar-based schedule. Such a system will be cutting into the the middle of long swings and missing shorter swings. For example, from the 2020 low in March is the start of the MN8 up swing and possibly even the MN16. And when does that swing end? So far, it has ended as far as the MN2 in June of 2021; we don't know yet for any of the higher TFs. Of course it is POSSIBLE to create a trading system using the prior year's H/L, but I think it would not be very simple and need a lot of rules.
To free Gazans of Hamas, use whatever it takes.
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