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Cable Update (GBPUSD)

  • #713,141
  • Dec 10, 2022 3:47am Dec 10, 2022 3:47am
Weekly finished as an indecision candle. The 1.2325 50% fib of the monthly swing level is proving resilient. We may just be basing for the next move. I'm treating it as a sideways market next week. We will probably fill the wick of the weekly candle next week.

I see Mondays high and 1.21 as possible targets next week. Monday's high is closer. I think both levels will be hit next week. I'll be looking primarily for reversals within the range.
  • #713,142
  • Dec 10, 2022 4:16am Dec 10, 2022 4:16am
Quoting Houtbay
The answer in at the bottom of the coffeee cup.
I thought you were supposed to use tea leaves and a tea cup/pot
  • #713,143
  • Dec 10, 2022 4:20am Dec 10, 2022 4:20am
Quoting TheWolf
{quote} Thanks! Honestly, sometimes even I don't understand some words trust me! So, around ~1.24 ha? Can't wait to see how this one develops..
current yearly moving average(260 SMA) is ~ 1.245 , trading price should come closer to it(test it) so it force it to go flat in the future.
but we should have a pullback to get a HL(higher low) for the uptrend to continue.
"the public is not yet ready for it" W.D. GANN
  • #713,144
  • Dec 10, 2022 4:47am Dec 10, 2022 4:47am
Dantpm in South Africa we drink more coffee than tea.
  • #713,145
  • Dec 10, 2022 4:48am Dec 10, 2022 4:48am
Shall not surrender, will fight back
BTC

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POSTMASTER
  • #713,146
  • Dec 10, 2022 5:20am Dec 10, 2022 5:20am
Quoting LvMMT
{quote} Thanks for all posted songs RH! ..their....Algo ...is called ... (SL) pips chopper ... 60 70 pips ...up down... if you don't have algo like theirs...we are eaten.... the market stays much longer in the range.... so that Algo can be used... in the long term it's hard to survive this Algo.... this is my opinion.... GBPUSD {image} GBPJPY {image} BTC {image}{image} God bless you RH and God bless everyone!
Just read your post, thanks buddy.

Try inserting this indicator with tf & same settings to help your strategy

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POSTMASTER
  • #713,147
  • Dec 10, 2022 5:21am Dec 10, 2022 5:21am
Quoting Robinhood1
{quote} Just read your post, thanks buddy. Try inserting this indicator with tf & same settings to help your strategy {image}
Its not perfect but quite good, do your backtesting
POSTMASTER
  • #713,148
  • Dec 10, 2022 5:22am Dec 10, 2022 5:22am
Quoting Robinhood1
{quote} Its not perfect but quite good, do your backtesting
Any doubts feel free to ask
POSTMASTER
  • #713,149
  • Dec 10, 2022 5:31am Dec 10, 2022 5:31am
Quoting LvMMT
{quote} Thanks for all posted songs RH! ..their....Algo ...is called ... (SL) pips chopper ... 60 70 pips ...up down... if you don't have algo like theirs...we are eaten.... the market stays much longer in the range.... so that Algo can be used... in the long term it's hard to survive this Algo.... this is my opinion.... GBPUSD {image} GBPJPY {image} BTC {image}{image} God bless you RH and God bless everyone!
Same setting 1 min tf

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POSTMASTER
  • #713,150
  • Dec 10, 2022 5:57am Dec 10, 2022 5:57am
Quoting Houtbay
Dantpm in South Africa we drink more coffee than tea.
I think everyone drinks more coffee than tea!
It's principles! It's stereo types!
If you're a witch you have a cat.
If your a magician you have a wand.
Bookworms and geeks wear glasses.
  • #713,151
  • Dec 10, 2022 6:50am Dec 10, 2022 6:50am
Quoting Robinhood1
{quote} Same setting 1 min tf {image}
If you have the right direction entering at the edge will normally work, otherwise, it might perform like RSI against a trend, not as bad though. Edge is 0 to -100
POSTMASTER
  • #713,152
  • Dec 10, 2022 6:57am Dec 10, 2022 6:57am
Quoting LvMMT
{quote} Thanks for all posted songs RH! ..their....Algo ...is called ... (SL) pips chopper ... 60 70 pips ...up down... if you don't have algo like theirs...we are eaten.... the market stays much longer in the range.... so that Algo can be used... in the long term it's hard to survive this Algo.... this is my opinion.... GBPUSD {image} GBPJPY {image} BTC {image}{image} God bless you RH and God bless everyone!
That Algo is for day to day rippng where there is no supports or resistence. Real supports or resistences are basically at reversals and then same direction. This is why most traders fail trying to catch back and forth. Its hard to survive but not impossible. The most powerful Algoīs scammers trades against the victim which is normally a top trader. So it does not matter to be underwater 90% of the time as long you are facing right direction and not overtrading. You may take days or weeks underwater but eventually can times by several your account when you beat it. That is the key. So time is vital, must hold. No other way can you make profit no matter what is posted here.
POSTMASTER
  • #713,153
  • Dec 10, 2022 7:24am Dec 10, 2022 7:24am
Nice try but we going up invisibles
POSTMASTER
  • #713,154
  • Dec 10, 2022 7:26am Dec 10, 2022 7:26am
Quoting Robinhood1
Nice try but we going up invisibles
Damn you are the market man, how far
  • #713,155
  • Dec 10, 2022 7:36am Dec 10, 2022 7:36am
Quoting shakmoney
{quote} Damn you are the market man, how far
You mean BTC long?
POSTMASTER
  • #713,156
  • Dec 10, 2022 7:38am Dec 10, 2022 7:38am
Quoting Robinhood1
{quote} You mean BTC long?
If this is what you mean, 20k to 21k to fill the gap
POSTMASTER
  • #713,157
  • Edited 8:39pm Dec 10, 2022 7:38am | Edited 8:39pm
All sub 30day adr days this week closed as liquidity begins to suffer in the run-up to the Xmas/N.Year break. This is not unusual. This adr metric is down from a 240 high earlier this year, to a more 'normalised' 173 currently. (Long-term average daily adr is 140ish.)

Wkly Although an indecisive doji - this week's wkly candle is the 5th consecutively to close with a bullish-body (on the gmt=2 wkly candle anyways.) This is an uncommon occurrence in this pairing on this t/f. The t/f from the 0327 lo has printed that as a LL in it's downtrend, then a LH, HL, H, ,HL and what will be a HH when it forms fractally. So a big pullback in that downtrend to around the 50% of it (@ last week's 2344 hi,) - ie the 4229-0327 move , also 85.4% of the shorter 2666-0327 move. So this t/f's downtrend is in some peril,? or it is the start of an uptrend/period of ranging. That 2344 current pullback hi is above the last 3 x LH's of the downtrend!
Dly Another HL printed @ 2106 (the wkly lo) in this t/f's uptrend. Friday's candle closed with a bullish body but it looks like a bearish hammer after price encountered supply in the dly part of the prev 1hr/4hr/minor dly sw hi zone to that 2344 hi, = prev res = potential res. There is a rising wedge of sorts on this t/f.
4Hr This t/f remains in a messy general uptrend but it's last candle print was a bearish engulfing on the gmt+2 price feed.

NB: Chart conditions per 3-candle fractal swing analysis.
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Trader with an Edge.
  • #713,158
  • Dec 10, 2022 7:41am Dec 10, 2022 7:41am
Quoting Robinhood1
{quote} You mean BTC long?
Hi RH, It looks as though it's just the two of us trading Bitcoin over the weekend. Anyway, I am thinking of selling a few and joining the buyer's side a bit later. This is how my chart currently looks:
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  • #713,159
  • Edited 7:53am Dec 10, 2022 7:43am | Edited 7:53am
The weekly is a consolidation candle, which has a bullish bias until next open considering the current trend.
Regardless, if it went to 1.2, it would be a very high probability bounce of that level up until the end of this month.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #713,160
  • Dec 10, 2022 7:44am Dec 10, 2022 7:44am
Quoting JayBag
{quote} Hi RH, It looks as though it's just the two of us trading Bitcoin over the weekend. Anyway, I am thinking of selling a few and joining the buyer's side a bit later. This is how my chart currently looks: {image}
Hi JB. Traders donīt seem to like BTc. GL
POSTMASTER
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