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Cable Update (GBPUSD)

  • #706,701
  • Nov 11, 2022 2:43pm Nov 11, 2022 2:43pm
Quoting mtako
The week !!!! {image}

Yeah no, what a week indeed.

For some reason, I could use a hug myself
  • #706,702
  • Nov 11, 2022 2:44pm Nov 11, 2022 2:44pm
Usdchf I have taken a short position and will hold over the course of the weekend and Monday. This is an opinion and I might be 100 percent incorrect.
  • #706,703
  • Nov 11, 2022 2:46pm Nov 11, 2022 2:46pm
Quoting JayBag
{quote} Yeah no, what a week indeed. For some reason, I could use a hug myself
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #706,704
  • Nov 11, 2022 2:49pm Nov 11, 2022 2:49pm
Quoting mtako
{quote} {image}
Ncoo.. thanks a lot bud. Actually, I think we should be buddies, I mean, you share a lot of humor along with valuable info. Whaya say?
  • #706,705
  • Nov 11, 2022 2:52pm Nov 11, 2022 2:52pm
Alright, folks, I am calling it a day/week.

I will observe these trades again before the market closes in 1h.
Do have a beautiful weekend

Let's see what next week brings forth
Cheers
  • #706,706
  • Nov 11, 2022 2:53pm Nov 11, 2022 2:53pm
Quoting JayBag
{quote} Ncoo.. thanks a lot bud. Actually, I think we should be buddies, I mean, you share a lot of humor along with valuable info. Whaya say?
Of course mate !!! I am always happy to be buddies with good-hearted sharing folks, no matter the rumors, trading knowledge, etc. Just as long as it stays positive and with
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #706,707
  • Nov 11, 2022 3:05pm Nov 11, 2022 3:05pm
Everyone gets a special hug from me !!!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #706,708
  • Nov 11, 2022 3:07pm Nov 11, 2022 3:07pm
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yes yes yes
  • #706,709
  • Nov 11, 2022 3:09pm Nov 11, 2022 3:09pm
Excellent pip hunting week my friends ! Closed all longs see ya next week
Master your mind. Master Trading.
  • #706,710
  • Nov 11, 2022 3:14pm Nov 11, 2022 3:14pm
Going down now ! Stop laughing, not a joke... Ohhh goshhhh, can't stop the laughing at my words, ok, I'll join then !!!!! happy funny loving weekend everyone !!!!!!!!!!!!!!!!!!!!!!!!!!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #706,711
  • Nov 11, 2022 3:22pm Nov 11, 2022 3:22pm
Long term direction make or break level above I guess.
Bust through and it's hello to 1.42++ I think
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Compulsions can be hard to resist
  • #706,712
  • Nov 11, 2022 3:30pm Nov 11, 2022 3:30pm
Quoting dantpm
{quote} I hope that this week I learned that you don't assume where the money will go but follow it to be successful with forex trading
My view was based on this chart
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  • #706,713
  • Edited Nov 12, 2022 6:04am Nov 11, 2022 3:34pm | Edited Nov 12, 2022 6:04am
A big week again with 137% of 13wk awr traveled lo-hi, and so far this month 94% of 6mth amr has been traveled by price current lo-current hi. Thursday and Friday were big days and Today, Friday, was a 100% 30day adr day. Doubtless a few bulls got slaughtered this week as the U.s Cpi inspired move on Thursday carried on through Friday, with a few shallow pullbacks, all of which were bought by discount hunting bulls, and went on to create new hi's.

Wkly A big bullish thrust engulf x 2 wkly candle close that bullishly engulfed the previous 2 candle bodies on that t/f and closed above it's last swing hi @ 1645, a swing H,) the t/f now having 2 consecutive HL's off the 0327 LL, and what will be a HH when it forms fractally. This could well be the beginning of a new potentially classic uptrend as price breaches the steepest descending t/line on the t/f decisively to the upside. Such a wkly candlle close at least implies upside follow-thru at some point. Either way these fractal prints and wkly candle seriously undermine the t/f's previous downtrend. The wkly 1853 hi (@/around Wkly R2) came near the top of a prev sw lo zone on that t/f that began @ 1759, = prev supp = pot sbr.
DLY As mentioned in the summary above, 2 big bullish candles Thursday and Friday and 4 out of the 5 dly candles this week were bullish-bodied, 3 being bullish thrust candles. Friday's bullish thrust candle close, like Thursday's, at least implies upside follow thru at some point. This said that would mean the small matter of the potential resistance to 1901 described below, to overcome, (as well as the potential sbr on the wkly t/f, described above.) The t/f again finds itself in a renewed general uptrend, again with decisive upside breaches of both it's steepest descending t/line, and triangle top. The dly/wkly hi (@/around Dly R1) just poked it's nose into the prev sw hi zone that extends to 1901 on this t/f, = prev res = pot res.
4Hr This t/f like the 1hr below it finds itself closing the week in a general uptrend. It's last candle close was a bullish-bodied candle, the 5th consecutively on the 4hr gmt+2 price feed. This is an uncommon event either bearish or bullish, on this t/f.

NB: 3 candle fractal swing analysis used to gauge chart conditions.

Wkly, Dly, & 4Hr below.
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Trader with an Edge.
  • #706,714
  • Nov 11, 2022 4:12pm Nov 11, 2022 4:12pm
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well I got what I wanted. And the shorts remain open . Obviously it went off to the right but . The game was or is afoot lol good night all I am going to finish this bottle of wine of . 1738 would be a nice target
  • #706,715
  • Nov 11, 2022 5:00pm Nov 11, 2022 5:00pm
Quoting Headland
A big week again with 137% of 13wk awr traveled lo-hi, and so far this month 94% of 6mth amr has been traveled by price current lo-current hi. Thursday and Friday were big days and Today, Friday, was a 100% 30day adr day. Doubtless a few bulls got slaughtered this week as the U.s Cpi inspired move on Thursday carried on through Friday, with a few shallow pullbacks, all of which were bought by discount hunting bulls, and went on to create new hi's. Wkly A big bullish thrust engulf x 2 wkly candle close that bullishly engulfed the previous 2 candle...
Hi do you think that it hit weekly resistance. I do need to consult my pc chart .. but bit late now and will check tomorrow,, if we are at residence then we could !!!? Be on a re trace . 1637 ish is 61.8 fib . . But we could also think how much cable could claw back to the point of the explosion around 1400 but 1802 stands in the way first ..Regards E
  • #706,716
  • Edited Nov 12, 2022 5:42am Nov 11, 2022 5:26pm | Edited Nov 12, 2022 5:42am
Quoting elbert3
{quote} Hi do you think that it hit weekly resistance. I do need to consult my pc chart .. but bit late now and will check tomorrow,, if we are at residence then we could !!!? Be on a re trace . 1637 ish is 61.8 fib . . But we could also think how much cable could claw back to the point of the explosion around 1400 but 1802 stands in the way first ..Regards E
Hi, well, per my charts above, the 1853 Friday hi/wkly hi hit the top of the potential wkly sbr (supp becomes res) zone, and the bottom of the prev dly sw hi zone = potential res, this extending to 1901. Price hasn't hit the 4hr part of that yet (as it tends to if it is going to test it,) that starts a bit higher than the wkly hi. The dly and wkly closes imply (at least) upside follow thru at some point, but that could well be after a pullback that has started at least on 1hr with a fractal swing hi now on that t/f, @ that 1853 wkly hi. As I say in my week ending summary above, on 4hr there have been 5 consecutive bullish candle closes. This is an un common event on this t/f, and 6 consecutively would be very uncommon, but not impossible.

Perhaps a look at the potential near-term downside obstacles to price on 1hr (ie pot rbs and pot supp,) might help. 1607 is the 50% of the fractal swing lo (1362) before the big U.s Cpi inspired 1hr candle to the 1853 fri / wkly hi. There is still bearish regular divergence 15min, 30min, 1hr and 4hr @ that 1853 hi.....but of course there has been for at least all of Friday!

Anything can happen. Hope this is clear.


1hr below
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Trader with an Edge.
  • #706,717
  • Nov 11, 2022 5:54pm Nov 11, 2022 5:54pm
Quoting Headland
{quote} Hi, well, per my charts above, the 1853 Friday hi/wkly hi hit the top of the potential wkly sbr (supp becomes res) zone, and the bottom of the prev dly sw hi zone = potential res, this extending to 1901. Price hasn't hit the 4hr part of that yet (as it tends to if it is going to test it,) that starts a bit higher than the wkly hi. The dly and wkly closes imply (at least) upside follow thru at some point, but that could well be after a pullback that has started at least on 1hr with a fractal swing hi now on that t/f, @ that 1853 wkly hi....
Thanks for your reply . You have an in depth analyst as always I read your posts and like George who has in depth look into price movements. So I respect your educational view that you both bring to this thread . You ar apart of the good traders here .. You never engage in chit chat as I .. and you keep it as business . The thing I don’t see is your preferred at the time trade . I would like to read where you are in the market if you could do that as it would make it a bit easier to read into where you are within your educational .posts . if that makes sense .. with respect.. you have seen my lol basic crap phone charts . And my strategy of how I get into trades lol but for me without showing how much money I make on trades . Which …sorry you guys who do … I find that disrespectful to new or to traders who only trade small lots on a weekly basis . Never kiss and tell . I am old school gentleman.. I do like to shout about winning trades lol . I do sometimes put in cryptic points to see if people pick up and I also see traders follow my posts . Which I am at times wrong so traders beware lol .. that’s enough rant .. it’s the red wine . Best regards as ever E
  • #706,718
  • Nov 11, 2022 6:30pm Nov 11, 2022 6:30pm
Quoting Pat Chiko
{quote} GU Spike Lee, do you job now ! Getting late... everyone want to rest ..{image}
Finaly, GU hit your TP.Congratulations to you!
  • #706,719
  • Nov 11, 2022 8:51pm Nov 11, 2022 8:51pm
Quoting mtako
{quote}...!{quote} Nope, Tacos only from Mtako !!!!! Tostada's all around mates, It's on Elude !!!!! Thank you mate MIAM looks delicious!!!! Bloody tostada's, always sooo messy impossible to eat delicious but masochistic.... what a mess that will make in this thread! Bloody boys.... {image} {image}
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Sooo delicious...

Thanks mtaco my friend, ...loads green pips to you.
  • #706,720
  • Edited Nov 12, 2022 12:11am Nov 11, 2022 11:41pm | Edited Nov 12, 2022 12:11am
Thanks Wavegarrick for the valuable suggestion to use one entry at a time, it is easier on the heart and no need to show many pips, it doesnt matter.

Summary of what i did yesterday on M1, thinking can i upscale it on H4 ?
any suggestions, comments including negative having +ve spirits are welcome.
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"Exchange of hands"
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