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Cable Update (GBPUSD)

  • #713,281
  • Dec 11, 2022 11:58am Dec 11, 2022 11:58am
I still have the opinion that indicators will hardly make a spectacular winrate on their on. I may be wrong because there is always an exception. I use indicator with the trend and for that i have a strategy naked trading.
POSTMASTER
  • #713,282
  • Dec 11, 2022 12:07pm Dec 11, 2022 12:07pm
Quoting dantpm
IG Markets is indicating that 57% of their clients are short on GU as of Friday and 80% are short as of the weekend trading with only a 10pt drop in price now.
Now it says 100% short
Extreme gut feeling trader
  • #713,283
  • Dec 11, 2022 12:12pm Dec 11, 2022 12:12pm
Trying settings on indicators. Some do not respond as well but there i go. count how many bars is there in one day. If tf 1m = 1440 x 6, being 6 a full cycle. if you want to set a 15min tf. 1440 min / 15 min = 96 x 6 cycles = 576 and so on. We run out of minutes when we reach 1h tf so 24 x 6 = 144. For days 365 days in one year so 365 x 6 = 2190

Here we have GU daily tf. For a heavy invester, say 1 milion. You can see where the entries are. FORGET ABOUT MAGENTA LINES, i cannot ged rid of them

Attached Image (click to enlarge)
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POSTMASTER
  • #713,284
  • Dec 11, 2022 12:18pm Dec 11, 2022 12:18pm
Quoting Robinhood1
{quote} I want to correct settings for W%R indiccator i sent you yesterday 1m tf 8640. If you cannot get this 4 digit into period. 1728 on 5m tf. It will work well entering on the trend, if enter against the trend it could keep bouncing against like an RSI or BB for example. Its upto you to try it. Do your reseach though. Cheers Buddy
Very nice of you.... Thank you very much RH!

I wish you happy holidays with your loved ones!

God bless you RH!
The only impartial feeling is love. It is also the only feeling of God.
  • #713,285
  • Dec 11, 2022 12:18pm Dec 11, 2022 12:18pm
Quoting Robinhood1
Trying settings on indicators. Some do not respond as well but there i go. count how many bars is there in one day. If tf 1m = 1440 x 6, being 6 a full cycle. if you want to set a 15min tf. 1440 min / 15 min = 96 x 6 cycles = 576 and so on. We run out of minutes when we reach 1h tf so 24 x 6 = 144. For days 365 days in one year so 365 x 6 = 2190 Here we have GU daily tf. For a heavy invester, say 1 milion. You can see where the entries are. FORGET ABOUT MAGENTA LINES, i cannot ged rid of them {image}
What does this GU chart tell us? Its on a downtrend cos it traded against. Indicator did not top at the upper band. Because its daily tf there has some travel obviously so 0.82 is possible in the long run
POSTMASTER
  • #713,286
  • Dec 11, 2022 12:21pm Dec 11, 2022 12:21pm
Forgot to mention that W%R comes by default -20 & -80. Have to change to 0 & -100
POSTMASTER
  • #713,287
  • Dec 11, 2022 12:28pm Dec 11, 2022 12:28pm
Quoting DubaiFX
Today may not be a Good day to Buy POUND be very careful guys, from where i see it it may hit 1.2140 hopefully lower and if i am Wrong 1.2270 is Target. but looking at USD INDEX it seems USD may do Some Recovery Today. i don't post chart i got Many Traders asking Why to be Honest my CHarts are Simple no Indicators Only Sentiment Algo. that's all. {image} {image}
POUND hit 1.2330 high,
but could not move higher for even few spikes, that suggest that, the High might be in Place,
coming Week..
the growth in GDP is expected to be driven by a drop in imports, which means a smaller trade deficit. And the bulk of that is likely due to lower cost to import fuel, since October started to see Brent prices come down.
Meaning that even though there is an improvement, it isn’t in any of the underlying factors that are troubling the economy and giving reason to forecast gloom for the pound. With inflation still in the double digits (and rising), spread in real interest rates in cable is likely to keep widening, putting downward pressure on the charts.
be very careful on Buy Or Sell..
December is always Big Boys, Banks, Institutes Adjusting Positions which makes it harder to Determine Which way it may Move,

AND...
According to the most recent CBI report, UK business investment is still down 9% when compared to pre-pandemic levels. The report also predicted that productivity would remain below 2019 levels well into 2024. Inflation is the mismatch between too much money and/or too little production. While the BOE can deal with inflation by reducing the money supply with higher rates and QT, that inflation could remain persistent if productivity doesn’t kick into gear.

NOW About USD... ts not too bad but its not Good either why??
OH DEAR GOD, the difference between what they say and what they do–sentiment surveys like the University of Michigan's index do not capture reality. In November, the index ended up revised higher to 56.8 from the preliminary of 54.7. The subindex for expectations was revised higher to 55.6 from 52.7. And inflation expectations for the year ahead lost momentum at 4.9% from 5.1% in the flash while the 5-year outlook was unchanged at 3%.
This time the market expects the sentiment index to come in only a skinch higher than Nov’s 56.8 at 56.9, despite the excellent holiday shopping we just saw. For what it’s worth, Trading Economics sees a dip to 56.4. But never mind–you can’t draw much conclusion from tiny changes like this. Anything in the high 50’s is good. We had a too-high 70.6 a year ago in Dec on wild happiness the pandemic was over, and then a too-low 50 in June when inflation started to bite–both outliers.
Forecast: the dollar will continue softer unless there is sizeable geopolitical crisis that drives investors back to the safe-haven, or the US data is so unfavorable (inflation persistently high) that they remember “oh yeah, Powell said higher for longer.”
.
STAY TUNED for Next Update..
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Don't compare your Trades with Others
  • #713,288
  • Dec 11, 2022 12:30pm Dec 11, 2022 12:30pm
Quoting suhas316
{quote} Renko
thanx !
in wondering about yourself, you forgot what you came here to be part of
  • #713,289
  • Dec 11, 2022 12:37pm Dec 11, 2022 12:37pm
Quoting DubaiFX
{quote} POUND hit 1.2330 high, but could not move higher for even few spikes, that suggest that, the High might be in Place, coming Week.. the growth in GDP is expected to be driven by a drop in imports, which means a smaller trade deficit. And the bulk of that is likely due to lower cost to import fuel, since October started to see Brent prices come down. Meaning that even though there is an improvement, it isn’t in any of the underlying factors that are troubling the economy and giving reason to forecast gloom for the pound. With inflation still...
Nice to see that I am not the only dramatic poster here using color and bold and big passionate letters . One big difference though, your post is actually good analysis ! Thank you mate for sharing, I feel less alone!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #713,290
  • Dec 11, 2022 12:57pm Dec 11, 2022 12:57pm
Quoting mrluckystar
{quote} I do agree if breaks 1.2344, we will see 12464 and 1.2619. On bears side, if breaks 1.2219, we will see 1.1966. Bull trying hard to push up based on cs, they even hold the LTL during last Friday news!
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Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #713,291
  • Dec 11, 2022 1:10pm Dec 11, 2022 1:10pm
Quoting Robinhood1
{quote} My MT platform closes 3 minutes before Real market does.
Which MT platform do you use?
  • #713,292
  • Dec 11, 2022 1:20pm Dec 11, 2022 1:20pm
Quoting pipcenturion
{quote} Which MT platform do you use?
5
POSTMASTER
  • #713,293
  • Dec 11, 2022 1:44pm Dec 11, 2022 1:44pm
Quoting Robinhood1
{quote} Set 1 min tf to 8640
OK, added a 0. Also added a 0 to the TDI settings. So of course, still the same relationship; it's just scaled by a factor of 10 now.

And of course the TDI won't have the upper/lower "band" limits to correspond to the 0/-100 of the %W, because that is SCALED (normalized) to 100%.

If I were interested enough in this topic, I would go ahead and scale (normalize) the TDI to 100% and show the similarity to %R. But I am not so interested ...

Is it any surprise that the TDI (which is based on RSI) and %R show can be tweaked to show essentially the same thing? It should be no surprise at all: They are both momentum indicators, and both are essentially manipulating the ratio of "ups to downs".
To free Gazans of Hamas, use whatever it takes.
  • #713,294
  • Dec 11, 2022 1:48pm Dec 11, 2022 1:48pm
Quoting DrDave
{quote} OK, added a 0. Also added a 0 to the TDI settings. So of course, still the same relationship; it's just scaled by a factor of 10 now. And of course the TDI won't have the upper/lower "band" limits to correspond to the 0/-100 of the %W, becaus that is SCALED to 100%. If I were interested enough in this topic, I woul go ahead and scale the TDI to 100% and show the similarity to %R. But I am not so interested ... Is it any surprise that the TDI (which is based on RSI) and %R show can be tweaked to show essentially the same thing? It should...
Most indicators come by default 14. Once you start changing it to natural law figures makes it easier. Its helpfull. Well, i tried to contribute to members. Another option.
POSTMASTER
  • #713,295
  • Dec 11, 2022 2:02pm Dec 11, 2022 2:02pm
Quoting DrDave
{quote} OK, added a 0. Also added a 0 to the TDI settings. So of course, still the same relationship; it's just scaled by a factor of 10 now. And of course the TDI won't have the upper/lower "band" limits to correspond to the 0/-100 of the %W, because that is SCALED (normalized) to 100%. If I were interested enough in this topic, I would go ahead and scale (normalize) the TDI to 100% and show the similarity to %R. But I am not so interested ... Is it any surprise that the TDI (which is based on RSI) and %R show can be tweaked to show essentially...
If we rely just on indicator which i donīt like, I only trade an instrument if my strategy tells me + can use the indicator, notice how W%R peaked twice within that wave so i would expect one only peak further up and thus it should travel south. Donīt tell me this is not helpfull?

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POSTMASTER
  • #713,296
  • Dec 11, 2022 2:08pm Dec 11, 2022 2:08pm
IG Markets Weekend GBPUSD is 100% short!, 16 pts down at this time.
  • #713,297
  • Dec 11, 2022 2:16pm Dec 11, 2022 2:16pm
Quoting DrDave
{quote} OK, added a 0. Also added a 0 to the TDI settings. So of course, still the same relationship; it's just scaled by a factor of 10 now. And of course the TDI won't have the upper/lower "band" limits to correspond to the 0/-100 of the %W, because that is SCALED (normalized) to 100%. If I were interested enough in this topic, I would go ahead and scale (normalize) the TDI to 100% and show the similarity to %R. But I am not so interested ... Is it any surprise that the TDI (which is based on RSI) and %R show can be tweaked to show essentially...
BTC. My strategy tells me long from a low that does not appear on chart as it is further to the left. See how the indicator performs on buying while selling is not hitting just once

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POSTMASTER
  • #713,298
  • Dec 11, 2022 2:26pm Dec 11, 2022 2:26pm
BTW, i closed my BTC longs after 2 days BE and it shooted up, typical . Now its come down and i am curious to see if it bottoms around 17050
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POSTMASTER
  • #713,299
  • Dec 11, 2022 2:51pm Dec 11, 2022 2:51pm
Quoting trumps
{quote} I think a close this year above 1.2666 will bring 1.42+ into view for 2023
Curious about this yearly breakout retest and the close of the 2022 candle
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Compulsions can be hard to resist
  • #713,300
  • Dec 11, 2022 2:57pm Dec 11, 2022 2:57pm
Quoting Robinhood1
{quote} BTC. My strategy tells me long from a low that does not appear on chart as it is further to the left. See how the indicator performs on buying while selling is not hitting just once {image}
If the indicator is not getting to the sell extreme, it means the trend is to the buy side right?
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