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Cable Update (GBPUSD)

  • #657,361
  • Edited 2:27pm Apr 27, 2022 2:03pm | Edited 2:27pm
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yes yes yes
  • #657,362
  • Apr 27, 2022 2:15pm Apr 27, 2022 2:15pm
Bottom starting to round, although not discounting a break of the low and more downside.
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  • #657,363
  • Apr 27, 2022 2:26pm Apr 27, 2022 2:26pm
Quoting stjoeforex
Just made 225 points in pips! My biggest score yet!. {image}

Hi St Joe,

Congrats!
Just to correct pip count on GU is lower (not the same as Gold) - you will be making 72pips if both trades close at tp.
You are trading $2.5 /pip on each trade x 2 = total $5.00/pip / making $360.

Useful calculators:
GBPUSD Profit Calculator | Myfxbook

Good profits!
  • #657,364
  • Edited 2:44pm Apr 27, 2022 2:34pm | Edited 2:44pm
Quoting Doddycross
{quote} Has the point 5 appeared now?
Hi, sorry I didn't get back sooner, I had finished my own trading session and was away from the desk. Have just come back now to update my potential supp/res charts. At the time of your post, yes that was the pt.5 on 30min (ie a fractal swing) in it's potential exp tri...you can of course wait for a decent 30min trigger or try and get in sooner on a t/f below...15min or 5min, 5min for eg gave a good bull engulf close at an over-sold read. The target would be a fib ext of move 4-5. On this occasion, although the set-up produced some pips it did not go on to achieve that target. When the pt.5 comes at a fib ext of move 3-4 there should always be regular div in the oscillators on at least that t/f, and preferably higher. When it comes at a fib retrace of move 3-4 a bounce off pt.2 is ideal/the optimum with some hidden div on a t/f below.

Hope this helps.
Trader with an Edge.
  • #657,365
  • Edited 3:34pm Apr 27, 2022 2:50pm | Edited 3:34pm
...straight-line edge of a cliff fall from 3090 on dly, - current and probably likely dly lo (re gmt+3 dly candle) in that aforementioned prev dly sw lo zone that extends down to 2480 =prev supp = pot supp, right @/around Dly S1, and Mthly S3. Bit lower in this pot supp zone is the 61.8% of the main multi-year rise 1410-4249. Just below the zone - Wkly S3 @ circa 2475.

I have dly and wkly both approaching o/s levels, dly nearer than wkly (obviously) and just about there.
Attached Image
Trader with an Edge.
  • #657,366
  • Apr 27, 2022 2:54pm Apr 27, 2022 2:54pm
Quoting Moty
{image}{image}
As per Motys Fibonacci observation , cable is rallying off 50% on the short time frame .

As per monthly Fibonacci , cable is rallying off 38.2% from June 2021 High , March 2020 Low retracement .
  • #657,367
  • Apr 27, 2022 2:58pm Apr 27, 2022 2:58pm
Quoting Headland
{quote} Hi, sorry I didn't get back sooner, I had finished my own trading session and was away from the desk. Have just come back now to update my potential supp/res charts. At the time of your post, yes that was the pt.5 on 30min (ie a fractal swing) in it's potential exp tri...you can of course wait for a decent 30min trigger or try and get in sooner on a t/f below...15min or 5min, 5min for eg gave a good bull engulf close at an over-sold read. The target would be a fib ext of move 4-5. On this occasion, although the set-up produced some pips...
That’s really helpful, thank you!
  • #657,368
  • Edited 3:42pm Apr 27, 2022 3:02pm | Edited 3:42pm
Quoting Chancy
{quote} As per Motys Fibonacci observation , cable is rallying off 50% on the short time frame . As per monthly Fibonacci , cable is rallying off 38.2% from June 2021 High , March 2020 Low retracement .
Call me pedantic, but just to be clear for others, the 2nd fib you are referring to is @ 2495, and is the 61.8% of the march 2020 lo @1410, to the june 2021 hi@ 4249 up-move. You draw fibs from where the move starts (100) to where it finishes (0) not from where it finishes to where it starts.
Trader with an Edge.
  • #657,369
  • Apr 27, 2022 3:38pm Apr 27, 2022 3:38pm
Quoting Headland
{quote} Call me pedantic, but just to be clear for others, the 2nd fib you are referring to is @ 2495, and is the 61.8% of the march 2020 lo @1410, to the june 2021 hi@ 4249 up-move. You draw fibs from where the move starts (0) to where it finishes (100) not from where it finishes to where it starts.
traditionally,

100 is the start
0 is the end
?
each day 10%,,,, https://www.forexfactory.com/thread/1371538
  • #657,370
  • Apr 27, 2022 3:41pm Apr 27, 2022 3:41pm
Quoting Macd-rsi
{quote} traditionally, 100 is the start 0 is the end ?
My apologies, yes it is the same on MT4, I got it the wrong way round lol! Will alter my post now so as not to confuse, (although that ship may have already sailed!) Thanks, (no wonder Chancy got it wrong lol!)

PS: If you change the '0' and '100' discussed above to ' %$ ' then it prints the start price and end price of the move as the label instead, which is what I use when I plot them.
Trader with an Edge.
  • #657,371
  • Apr 27, 2022 3:46pm Apr 27, 2022 3:46pm
anyway, 100% and 0% are two faces for the same coin
like 38% and 61%
etc..
each day 10%,,,, https://www.forexfactory.com/thread/1371538
  • #657,372
  • Apr 27, 2022 3:55pm Apr 27, 2022 3:55pm
Quoting Macd-rsi
anyway, 100% and 0% are two faces for the same coin like 38% and 61% etc..
Yes they both add up to 100 (61.8 + 38.2) but, using the example at hand, the move from 1410-4249 has retraced nearly 61.8% of the move -not- 38.2% of the move.
Trader with an Edge.
  • #657,373
  • Apr 27, 2022 3:57pm Apr 27, 2022 3:57pm
Quoting Wavegarrick
{quote} Quoi qu'il en soit, mes amis, mon arrêt a été supprimé. D'un point de vue hebdomadaire, nous sommes à un niveau très crucial avec le retracement fib de 61,8 % à 1,24939 de l'année et une tendance à la hausse de mars 2020 à juin 2021. Jusqu'à présent, le prix s'est arrêté juste en dessous de 1,25000 et je soupçonne une autre poussée vers 1,24939. où je pourrais chercher plus de transactions d'achat. La raison pour laquelle je prends ce commerce d'achat est que les inversions hebdomadaires ont tendance à se produire le mercredi/jeudi....
Hello,
dangerous long in the middle of a downtrend, the only bullish element for me is the last red arrow impulse,little conviction on this kind of trade ...
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  • #657,374
  • Apr 27, 2022 4:28pm Apr 27, 2022 4:28pm
Wow, what a month this has been. Made 4780 pips and 79% equity growth with 75% winrate

Closed and banked my EU, GU shorts in profit. Tomorrow and Friday will be important for the direction of Dollar and Euro

I am too lazy to find and quote my previous posts but you can see my entries in my profile. Or just check my track record history

https://www.myfxbook.com/members/Nor...plorer/9447980
You have to have an IQ higher than 90 to interact with this user.
  • #657,375
  • Apr 27, 2022 4:30pm Apr 27, 2022 4:30pm
Quoting Headland
{quote} Yes they both add up to 100 (61.8 + 38.2) but, using the example at hand, the move from 1410-4249 has retraced nearly 61.8% of the move -not- 38.2% of the move.
You are right Headland . 61.8 % of the move . I'll try and remember that next time ! lol .
  • #657,376
  • Apr 27, 2022 4:33pm Apr 27, 2022 4:33pm
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  • #657,377
  • Apr 27, 2022 8:41pm Apr 27, 2022 8:41pm
Early buy 1.25300
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #657,378
  • Apr 27, 2022 9:31pm Apr 27, 2022 9:31pm
Quoting kris89
Early buy 1.25300
I follow you for scalp only
Intraday only.
  • #657,379
  • Apr 27, 2022 9:31pm Apr 27, 2022 9:31pm
We are in asian range 15 pip scalp wisely and seek the hint on next move LO
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #657,380
  • Apr 27, 2022 9:34pm Apr 27, 2022 9:34pm
Quoting navk
{quote} I follow you for scalp only
Yes i scalp only in inside range. Buy sell buy sell 15 pip . Today i expected breach of 1.3600 or else we will dip
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
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