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Cable Update (GBPUSD)

  • #687,561
  • Sep 24, 2022 8:36am Sep 24, 2022 8:36am
Below parity looks possible after such a big move. Maybe this year. With war, energy prices and USA performing well that looks possible.
  • #687,562
  • Edited 9:06am Sep 24, 2022 8:45am | Edited 9:06am
In the absence of anything (recent) else (at the moment,) below the Friday lo (save for calculated/floor pivots) let's look at fib extensions.

Below are the last pullbacks on 1hr, 4hr, dly, and wkly t/f's (A-B) in their respective downtrends, and the fib extensions of these moves. Also, there is the A-B move on the mthly.

The next few fib extensions to the downside are summarised, as under;
1.0775 423.6% of 1hr 1020-1096 move
1.0699 423.6% of 4hr 1210-1363 move
1.0646 127.2% of mthly 1410-4249 move
1.0333 138.2% of mthly 410-4249 move
1.0320 423.6% of dly 1404-1738 move
0.9977 150% of mthly 1410-4249 move
0.9954 423.6% of wkly 1759-2293 move

Charts below showing those last A-B pullbacks, and the A-B move on mthly
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1hr.JPG Size: 35 KB
Click to Enlarge Name: 4hr.JPG Size: 37 KB
Click to Enlarge Name: dly.JPG Size: 43 KB
Click to Enlarge Name: wkly.JPG Size: 45 KB
Click to Enlarge Name: mthly.JPG Size: 46 KB
Trader with an Edge.
  • #687,563
  • Sep 24, 2022 8:49am Sep 24, 2022 8:49am
Quoting nAVIN2007
tony u see {image}
How and why you drawing trendlines like that ? U trade for almost or over 20 years and u still learn nothing ? Likes it or not u still learn nothing !
  • #687,564
  • Sep 24, 2022 8:50am Sep 24, 2022 8:50am
Quoting Headland
{quote} Hi, Great post, thanks. I think there are technical reasons to consider that there may be a sizeable pullback (that word will mean different things to different traders, depending on the t/f's of interest to them in their trading,) but overall, as far as we know, the new week will open with exactly the same fundamentals as Friday's close, unless something happens over the w/e to affect them, so whatever conclusion people have drawn from them and their likely affect on price going forward over whatsoever time horizon, remains the same. ------------------------------------------------------------------------------------...
Always do the opposite what retail traders do.

Stay green and rich.
  • #687,565
  • Sep 24, 2022 9:40am Sep 24, 2022 9:40am
Quoting 3Davy
{quote} Always do the opposite what retail traders do. Stay green and rich.

I think big trading companies hire normal traders to let them trade on their software and when they make a decision the company uses that signal to trade the opposite direction.
-
Friday at a very critical moment for me mine MT4 freezed, just once and exactly at the wrong time

-

This pair could continue in this descending channel.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 9 KB
  • #687,566
  • Sep 24, 2022 10:10am Sep 24, 2022 10:10am
Quoting RaHaG0D
{quote} Yes, the price was manipulated several times. Whenever the price was on a sensitive point of SR, there was a news that broke that area easily. We all know that we always behave strangely in the last 3 months of the year and it is possible to return to 1.25 & maybe 0.8000. My text was not meant to question others & their analysis. I myself don't always analyze correctly & there are days when it is difficult for me to get out of losing trades. I also have a lot of mistakes I am only happy in the...
Thank You.
I wont have done it any differently, except perhaps not trade would have been a better option.
  • #687,567
  • Sep 24, 2022 10:29am Sep 24, 2022 10:29am
Quoting Georginson
Hello guys, below is the historical data of GBPUSD to as far back as year 1974... I did lose 2% of my equities this week which prompted me to find out what's the all time low in order to know where my invalidation of holding on to my buy from 1.10 and 1.11 should be... Post from July 10... Expecting 1.03 within 15 months, now here we are at 1.08... interesting... All time low at 1.0520 recorded February 25 year 1985... {image} {image} {image} {image} {image}
Quoting tonyb123
{quote} Here is a larger grid so you don't go blind: {image}{image}
I posted this many times we are on the same track, 1.10, 1.06, 1.01 are the next major levels; 1.10 already surpassed.
MY GRID. Markets are NOT random.
  • #687,568
  • Sep 24, 2022 10:34am Sep 24, 2022 10:34am
Quoting Eren10
{quote} I think big trading companies hire normal traders to let them trade on their software and when they make a decision the company uses that signal to trade the opposite direction. - Friday at a very critical moment for me mine MT4 freezed, just once and exactly at the wrong time - This pair could continue in this descending channel. {image}
FTM challenges are the test dummies for this.
MY GRID. Markets are NOT random.
  • #687,569
  • Sep 24, 2022 11:14am Sep 24, 2022 11:14am
Quoting navk
Price stopped moving down since NY close. Big relief. I have not seen in my trading career such big move. 434 pips. Thank God i stopped trading once I achieved some money. Had I continued to trade in NY session, the way i was trading ( long ) I too would have blown my account. In this scenario, I would expect to see some pull back after finding support in 4hr candle. Currently 1 hr is below, formed support.
lol, come on you was around for the , brexit ,brexit brexit , years were you not , some mighty good days then too , not that bexit mattered it was already in the cards same card still being played
Attached Image (click to enlarge)
Click to Enlarge Name: 6 gold 2.jpg Size: 530 KB
  • #687,570
  • Sep 24, 2022 11:28am Sep 24, 2022 11:28am
Quoting nAVIN2007
{quote} Thank You. I wont have done it any differently, except perhaps not trade would have been a better option.
Howdy nav , if memory serves me correctly , 2nd time now on the wrong side of one of these , , always liked ya , not that makes a difference in the grand scheme of things , but a a thought , maybe a fleeting thought of doing something a little different , these kinds of moves only come along so often in ones life , much better to be rolling with it ,
A bounce could be a bit vicious when it comes so be patient , ya may be able to hold on , I hope ya can man , , if you got in to trading to actually make money , a slightly different view may be needed , any way , hope you do well bud , steady as it goes ,
  • #687,571
  • Sep 24, 2022 11:44am Sep 24, 2022 11:44am
almost 6 quarters now , no one buying , why would you ? any decent blip up , whacked with out mercy , buying to play a bounce , why would one till it bounced , and if buying one would probably wait for the low of a bounce , cept evey low is lower , should tell somebody something , as said , these dont come along to often in ones life , 6 quarters , 18 months out of ones life , a bit of a different view , and a completley differnt choice , those 18 months may have made a huge difference in ones whole life
Attached Image (click to enlarge)
Click to Enlarge Name: 6 gold 1.jpg Size: 516 KB
  • #687,572
  • Sep 24, 2022 12:16pm Sep 24, 2022 12:16pm
Quoting tonyb123
{quote} FTM challenges are the test dummies for this.
What kind of challenge do you mean with FTM ?
  • #687,573
  • Sep 24, 2022 12:16pm Sep 24, 2022 12:16pm
Quoting Eren10
Below parity looks possible after such a big move. Maybe this year. With war, energy prices and USA performing well that looks possible.
Is the USA really performing that well though.
  • #687,574
  • Sep 24, 2022 12:18pm Sep 24, 2022 12:18pm
Even for the big time "pro" big time posistion traders here that talk about monthlys and weeklys and dailys , at some point one has got to decide all rite my view wasent right if holding longs , even if yapping bout montlys weeklys and dailys , shit moves a bit slow , till it dosent , lines a bit off on daily , it is from the grand piba down to the worker bee the daily , but the point should be seen
Attached Image (click to enlarge)
Click to Enlarge Name: 6 GBP to post.jpg Size: 436 KB
  • #687,575
  • Sep 24, 2022 12:22pm Sep 24, 2022 12:22pm
Quoting Chris_35
{quote} Is the USA really performing that well though.
lol, think any of that crap really matters in a wink wink chuckle chuckle fagazi world , it dosent
  • #687,576
  • Sep 24, 2022 12:25pm Sep 24, 2022 12:25pm
any way , havent roamed the halls in a while , seen your nik Nav , was just a howdy more or less , would really get a chuckle out of ya making tons then how things are currently , keep the faith my friend ,
  • #687,577
  • Sep 24, 2022 12:51pm Sep 24, 2022 12:51pm
Quoting nAVIN2007
{quote} for sure, I was listening to LBC radio yesterday, and there was an economist who actually thinks driving the pound to below parity would provide an opportunity to increase manufacturing, like china but london would become a shit hole I always would say the queen would never allow it, but now she has gone
You will get 1.33 for sure
  • #687,578
  • Sep 24, 2022 1:10pm Sep 24, 2022 1:10pm
Quoting Ihlas
{quote} You will get 1.33 for sure
Attached Image (click to enlarge)
Click to Enlarge Name: 8684842627c8023a69c5a64298661e1a.jpg Size: 64 KB
  • #687,579
  • Sep 24, 2022 1:16pm Sep 24, 2022 1:16pm
Quoting Waveskierrob
{quote} {image}
I was expecting
You look nice as always
  • #687,580
  • Sep 24, 2022 1:20pm Sep 24, 2022 1:20pm
Quoting Chris_35
{quote} Is the USA really performing that well though.

USA have more energy sources than Europe and UK. And due to the war Europe has problems with supply of gas. UK is less dependent on Russia so that is better.
I don't know the numbers but I heard the term recession in UK. They will spend more money to support their economy. I should read more about it but apparently the markets did not like this.
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