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Cable Update (GBPUSD)

  • #687,581
  • Sep 24, 2022 11:33am Sep 24, 2022 11:33am
Monday's london open i am shorting this mf
yes yes yes
  • #687,582
  • Sep 24, 2022 11:45am Sep 24, 2022 11:45am
Quoting Moty
Monday's london open i am shorting this mf
I think we will see a pretty good correction to the upside.
Be humble or be humbled.
  • #687,583
  • Sep 24, 2022 12:01pm Sep 24, 2022 12:01pm
Inserted Video
POSTMASTER
  • #687,584
  • Edited 3:33pm Sep 24, 2022 12:12pm | Edited 3:33pm
The case for a pullback;
a. It is common to get a pullback after a 'big' move like Friday's down move.
b. 4hr has printed 5 consecutive bearish-bodied candles. 5 is the most typical maximum number of consecutive bullish or bearish-bodied candles on this t/f over a large multi-year sample.
c. The last 1hr whole candle closed outside the 20bol. (Extreme deviation.)
d. 15min and 30min t/f's are showing regular bullish div in their osc's.
e. 1hr, 4hr and mthly osc's are in extreme o/s territory as of Friday's close.
f. Friday's close is around the 261.8% fib extension of the last real upside pullback in the respective established downtrends on both the dly and wkly t/f's, (see my post above.)
g. Could see some profit taking after such a big move.

The case for continued downside;
a. Nothing has happened to change the fundamentals affecting this pairing over the w/e (so far.)
b. Last Dly & Wkly candle closes were 'bearish thrust' candles implying more downside (even after a correction within the candle)
c. The Friday close was only 5pips or so from the lo on 1hr+ candles.
d. 1Hr + t/f's are in a downtrend.

Anything can happen!
Trader with an Edge.
  • #687,585
  • Sep 24, 2022 12:20pm Sep 24, 2022 12:20pm
Quoting Eren10
{quote} What kind of challenge do you mean with FTM ?

Funded traders accounts where traders pay a fee for trading a demo account with specific rules for the opportunity to trade the "funds" of an organization and split the earnings.

The trades are logged and a trader against trader action is logged to identify the losing traders habits. Algorithms are then built to capitalize on the losers actions.
MY GRID. Markets are NOT random.
  • #687,586
  • Sep 24, 2022 12:20pm Sep 24, 2022 12:20pm
Quoting Moty
Monday's london open i am shorting this mf
rethink that
in wondering about yourself, you forgot what you came here to be part of
  • #687,587
  • Sep 24, 2022 12:35pm Sep 24, 2022 12:35pm
Quoting Robinhood1
And to please Wavesk, lets see if i can reach 18K end of week.
.....and how close to 18k did you get buddy
  • #687,588
  • Sep 24, 2022 12:47pm Sep 24, 2022 12:47pm
Quoting Ihlas
{quote} I was expecting You look nice as always
I'm sorry didn't know you was pregnant .......congratulations
  • #687,589
  • Sep 24, 2022 1:08pm Sep 24, 2022 1:08pm
Quoting tonyb123
{quote} Funded traders accounts where traders pay a fee for trading a demo account with specific rules for the opportunity to trade the "funds" of an organization and split the earnings. The trades are logged and a trader against trader action is logged to identify the losing traders habits. Algorithms are then built to capitalize on the losers actions.

Yes that could provide a lot of usable information for stastically trading.
  • #687,590
  • Sep 24, 2022 1:22pm Sep 24, 2022 1:22pm
Quoting emmanuel7788
{quote} here: New FFx standard indicators https://www.forexfactory.com/thread/...ard-indicators I only use them a trading tools to to show multiple timeframes charts and to explain what I post. This way I don't have to post so many charts of different timeframes. Just on one screen , one chart shows all your selected standard indicators ... and you have alerts on individual indicators on the chart timeframe too. {image} ...
Thank you. i know that's why i needed it. thank you once again
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #687,591
  • Sep 24, 2022 1:43pm Sep 24, 2022 1:43pm
Quoting Moty
Monday's london open i am shorting this mf
You may see a gap up followed up with aggressive correction to 1.1100. lowest this can go is the all time low at 1.05...

For next week
1.10 - 1.11 = 70% chance
1.05 = 30% chance
Data + Stat + Risk/Emotions Management
  • #687,592
  • Sep 24, 2022 1:55pm Sep 24, 2022 1:55pm
Here is the monthly GBP chart with ABC flat correction pattern. If you believe that's the case, the PRZ is between 1.0640-1.0238. Out of respect for the pound, I couldn't mark this zone below parity.
The flat patterns diagram is an excerpt from https://fbs.com/analytics/guidebooks...t-patterns-270 website. If you want to read more about it, go there.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 09.24 M.png Size: 26 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Flat patterns.jpg Size: 92 KB
Always trade your own plan...I don't provide trading signals.
  • #687,593
  • Sep 24, 2022 2:15pm Sep 24, 2022 2:15pm
Quoting Waveskierrob
{quote} I'm sorry didn't know you was pregnant .......congratulations
Same brainless Waveski
  • #687,594
  • Sep 24, 2022 2:32pm Sep 24, 2022 2:32pm
Quoting Moty
Monday's london open i am shorting this mf
Is this based on expectations or reading an indication of where the market is going?
From what I have learned about forex, rule #1, you don't trade expectations, you trade what the market gives you!
  • #687,595
  • Sep 24, 2022 2:32pm Sep 24, 2022 2:32pm
Quoting Georginson
{quote} You may see a gap up followed up with aggressive correction to 1.1100. lowest this can go is the all time low at 1.05... For next week 1.10 - 1.11 = 70% chance 1.05 = 30% chance
Yeah it is going to a wild week. GAP up 100% at the open.
Be humble or be humbled.
  • #687,596
  • Sep 24, 2022 2:34pm Sep 24, 2022 2:34pm
GBP/JPY is the better for sure upside.
Be humble or be humbled.
  • #687,597
  • Sep 24, 2022 2:36pm Sep 24, 2022 2:36pm
Quoting Temujin
GBP/JPY is the better for sure upside.
480 pip drop in a day is way overdone.
Be humble or be humbled.
  • #687,598
  • Sep 24, 2022 3:33pm Sep 24, 2022 3:33pm
They removed mt4 from the App Store what a shame. I still have it downloaded though haha
Master your mind. Master Trading.
  • #687,599
  • Sep 24, 2022 3:36pm Sep 24, 2022 3:36pm
Quoting Temujin
{quote} 480 pip drop in a day is way overdone.
I have witnessed 10000pips in. A day on gj
MY OPINION NOT FINANCIAL ADVISE
  • #687,600
  • Sep 24, 2022 4:04pm Sep 24, 2022 4:04pm
Quoting Chris_35
{quote} Is the USA really performing that well though.
By having the dollar as the world's reserve currency?
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