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Cable Update (GBPUSD)

  • #653,641
  • Mar 11, 2022 11:49am Mar 11, 2022 11:49am
Classic ( Floor ) Pivot Analysis

Time Frame = Daily Chart

Yellow = Yearly Pivot
DeepPink = Monthly Pivot
DeepSkyBlue = Weekly Pivot

SU
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  • #653,642
  • Mar 11, 2022 11:54am Mar 11, 2022 11:54am
Quoting mysterio
i'm on BE for the day and targeting asia highs with a buy {image} {image}
Closed this one for 18xR on daily pivot. Pretty happy with that. I love intraday trading on GU
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  • #653,643
  • Mar 11, 2022 12:26pm Mar 11, 2022 12:26pm
And this is the final look of the week... I tought she going to pull up though...maybe SAVING something for next week... not untill she break the trend... SOUTH is where I go.. see you next week..
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  • #653,644
  • Mar 11, 2022 1:03pm Mar 11, 2022 1:03pm
Stupid stupid stupid of me
There was a gap also to the upside
I
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yes yes yes
  • #653,645
  • Mar 11, 2022 1:31pm Mar 11, 2022 1:31pm
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  • #653,646
  • Mar 11, 2022 1:43pm Mar 11, 2022 1:43pm
sometimes I'm so dumb, I wonderfully recognized the resistance at 99.305
so why not go ahead with the same analysis and look for a reversal on support in the 97.600 range?
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yes yes yes
  • #653,647
  • Mar 11, 2022 1:58pm Mar 11, 2022 1:58pm
Quoting Moty
sometimes I'm so dumb, I wonderfully recognized the resistance at 99.305 so why not go ahead with the same analysis and look for a reversal on support in the 97.600 range? {image} {image} {image}
***
In a bear market, it's best idea not to buy!
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  • #653,648
  • Mar 11, 2022 2:03pm Mar 11, 2022 2:03pm
Quoting Moty
sometimes I'm so dumb, I wonderfully recognized the resistance at 99.305 so why not go ahead with the same analysis and look for a reversal on support in the 97.600 range? {image} {image} {image}
Nice analysis, at least you learned from your mistake and most importantly, shared your knowledge.
Hopefully next week gaps to the upside since it has reached and filled key weekly FVG level.
Good luck, closing those floating positions in profit next week.

Nice weekend to y'll,
+256.
Face 'ur fears & tame 'ur greed
  • #653,649
  • Mar 11, 2022 2:15pm Mar 11, 2022 2:15pm
can we see retracement again to 1.31800 or higher then head back lower or is it gonna drop like crazy?
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  • #653,650
  • Mar 11, 2022 2:37pm Mar 11, 2022 2:37pm
Buy 1.30270 xD
This position for next week
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #653,651
  • Mar 11, 2022 2:37pm Mar 11, 2022 2:37pm
Quoting Coreg2004
{quote} update... {image}
Update...
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Always trade your own plan...I don't provide trading signals.
  • #653,652
  • Mar 11, 2022 2:48pm Mar 11, 2022 2:48pm
Quoting Coreg2004
{quote} Update... {image}
Hi Coreg

Nice analysis as always. Does this mean you expect reversal at 1.30 area ?
  • #653,653
  • Mar 11, 2022 3:17pm Mar 11, 2022 3:17pm
Quoting Nd10
{quote} That value is actually the year support S1. It already hit yearly pivot at 1.3649 and went extra by 100 pips 1..3749 and dropped 700 pips just between January and this March. What if it happens with this support, that means, we may yet see 1.295 and then pump up back to 1.36 area. Just wondering. Well my tp Remains 1.34 to 1.36.. I pray i have the patience though as i always goof
This Scenario... Hmm
  • #653,654
  • Edited 3:44pm Mar 11, 2022 3:28pm | Edited 3:44pm
* Very likely big bearish wkly candle close in 30mins or so @ at least 103% of the 13week (1/4 year) awr. 5 consecutive LH's on that wkly t/f now.
* Likely bearish bodied dly candle close - could be an inverted hammer though, albeit bearish bodied? another > 30day adr day today. Note though that this week there has been a downside follow thru despite last wk's wkly similar bearish-bodied inverted hammer!
*1hr/4hr/dly/wkly t/f's close the week in general downtrends. No big surprises there given the global macro/fundie situation.
* Point 5 of the 1hr expanding triangle (if it works out) will be @ a fib extension of move 3-4.

** Next week as this, so much depends on the overall fundie situation. A worsening Ukrainian situation could see a further move of capital into so called safe haven assets. Big week coming up re Us Fed's Fomc and Uk's Boe's MPC. Will either Central Bank blink re the Ukrainian situation? Anyone on the 1st news of the Ukrainian invasion who didn't immediately buy $, gold, and oil, (although oil is more prone to so many variables versus for eg gold,) missed out and doesn't understand basic fundies. This was free money!

Wkly and 1hr below.
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Trader with an Edge.
  • #653,655
  • Mar 11, 2022 3:34pm Mar 11, 2022 3:34pm
Similar view on daily, possible retracement from 13030, back to 134. Also a bit lower to 12933 possible, depending on the events.
My channel is nearly complete. Wish I kept my sells longer.
On monthly 1200 possible depending on many factors. See the chart, would like trend to reverse, we will see.

Latest events in the Uk -
Covid cases rising once again with a new variant. In UK 1 in 25, Scotland 1 in 18.
Economy grown by 0.7% with infliation in pretty bad levels, doesn't add up...

We need peace, happy and healthy lives. Have a lovely weekend everyone

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  • #653,656
  • Mar 11, 2022 3:38pm Mar 11, 2022 3:38pm
Quoting mysterio
{quote} Hi Coreg Nice analysis as always. Does this mean you expect reversal at 1.30 area ?
I expect the ABC pattern to become 12345 so we might see a small retracement (if C is in place) to the 4th??? level.
Always trade your own plan...I don't provide trading signals.
  • #653,657
  • Mar 11, 2022 4:24pm Mar 11, 2022 4:24pm
Quoting Vincent1
{quote} {quote} Update Finally almost there.... {image} {image}
Just got back home and saw the nice surprise that the market hit the take profit.

Fantastic trade!!!

20 pips risked, 934 pips gained. Risk to reward rate 1:46. Swap 7% of the gain

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FOMC next week, very important. High inflation should make think of +0.50, but the shock of the war has already put the markets in crisis, and the Fed could settle for only +0.25

In the long run, the dollar will return to a sell-off, GBPUSD in the coming months may reach 1.50. But we need to know when and how the trend will turn from bearish to bullish
  • #653,658
  • Edited 8:41pm Mar 11, 2022 6:02pm | Edited 8:41pm
... you look at that wkly chart and the candle close this week and it looks bearish overall. Ie it's in a general downtrend with 5 consecutive LH's, and the last candle is a bearish thrust close that has now resulted in 3 consecutive bearish candle closes on this t/f. Good chance of a downside follow thru then? - Well technically speaking the last time there were 4 consecutive bearish weeks it began in July 2019, so nearly 3years ago. You then have to go back to 2018 to see over 4 consecutive weeks of selling. So from a technical perspective it is not high in probability at all, or should I more accurately say that a bearish wkly close next week is not technically high in probability, but this does not mean there won't be any downside follow thru for howsoever long, and of course the fundies are currently on side for this outcome and even a 4th consecutive bearish wkly close at end of next week. What is the fundie probability? - Well probably good with all that is known right now,? but of course this could change.

Whatever actually happens, as always - trade what you see not what you think - the market doesn't give a flying fuck what we think.

wkly below.
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Trader with an Edge.
  • #653,659
  • Mar 11, 2022 7:21pm Mar 11, 2022 7:21pm
Quoting Vincent1
{quote} Just got back home and saw the nice surprise that the market hit the take profit. Fantastic trade!!! 20 pips risked, 934 pips gained. Risk to reward rate 1:46. Swap 7% of the gain {image}{image} FOMC next week, very important. High inflation should make think of +0.50, but the shock of the war has already put the markets in crisis, and the Fed could settle for only +0.25 In the long run, the dollar will return to a sell-off, GBPUSD in the coming months may reach 1.50. But we need to know when and how the trend will turn from bearish...
Well done for your persistence.

I have a problem with it being a fantastic trade though. It looks to me like that equates to about 5.6 pips a day over a 33 week period. Must have been like watching paint dry.
  • #653,660
  • Mar 11, 2022 8:46pm Mar 11, 2022 8:46pm
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my plan for next week is about to take buy opportunity again , sell almost reaching the limit R:R was good enough
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
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