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Cable Update (GBPUSD)

  • #724,141
  • Jan 27, 2023 5:42pm Jan 27, 2023 5:42pm
Big ass dump next week...2090-2150.
Everyone can see the chart, but only a few can actually read it.
  • #724,142
  • Jan 27, 2023 7:17pm Jan 27, 2023 7:17pm
Quoting Pat Chiko
{quote} Most important knowledge to be good forex trader is to understand Support & Resistance. If you master this, you can understand any system (with or without indicator). Find your own method to trade, everyone trade differently. If may find my system is not suitable for you. Stay with one system, no system hopping. A different system every week. The rule seems to be "If you get three losing trades in a row, then your system is no good. Time to go find another one." This is so sad because so many traders fail to recognize two things. First,...
this is golden
Thanks
  • #724,143
  • Jan 27, 2023 10:10pm Jan 27, 2023 10:10pm
Quoting cryptrade
{quote} this is golden Thanks
My pleasure to share everything I know.

Long story short..........
I wasn't successful as a Trader right from the get-go.
It was a very difficult Journey for me lots of ups and downs.
And I struggled like that for many many years.

But those were very formative years for me.
I would say and in hindsight if I could go back in time, I wouldn't change anything, because those experiences made me the person that I am today.
(Back to future)

Stay blessed and enjoy your weekends

Pat CHIKO
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #724,144
  • Jan 27, 2023 10:37pm Jan 27, 2023 10:37pm
This is giving me hope
  • #724,145
  • Jan 28, 2023 12:02am Jan 28, 2023 12:02am
Quoting Mitiblotch
{quote} Hi Bee, it won't just go anywhere. It is going up. The signs are there. You don't need it to break for you to know. I already gave reasons. The movers are paying weekend swaps to hold their buys. Whenever this happens it will go up for them to make back the money expended in swaps. This is a fact and not conjecture. Secondly, the monthly pivot is at 2179 and it broke it up from bottom. That's another sign that this was a bullish month. Thirdly, 2335 was the weekly pivot and price closed way above it here at 2399. Fourthly you have about...
Oh well, we've closed @ 1.2382
Bears should yet have a say prior to your prediction.
If that gets to be the case, no worries, just make sure it's a delicious humble pie!
  • #724,146
  • Jan 28, 2023 1:24am Jan 28, 2023 1:24am
Quoting Mitiblotch
{quote} Price is clearly headed up. All the signs are there. Its left for traders to see.
I agree with you!

There has been a lot of hints so far. I get the impression that CB's want the price to go higher which makes sense, so they can sell from a really nice price going forward into recession.

This is blatant manipulation by central banks. News were good for USD this week, but it didn't matter.

The plan from this point is rather simple: wait for the price to reach at least 1.27 (potentially 1.30) and then start adding shorts.

Ultimate high from this rally seems to be at 1.315 and not a pip higher for down-trend to remain a down-trend.
  • #724,147
  • Jan 28, 2023 1:59am Jan 28, 2023 1:59am
Quoting Mitiblotch
If this buy isn't clear to you now. Hmm... This is exactly like it happened a week ago. NY is buying it into the close and might hold their buys all weekend and pay the weekend swaps. You should know what that means. I don't even need a chart to tell this thing will break up and fly away. It is only being delayed. I am still holding my buy from 2383 since yesterday.
These market makers know how to trick people.

The mind of traders have been conditioned from the very start.

You bought 2 pips lower than the VAP supply level for Thursday. That is an efficient entry!

The VAP supply level for Friday is at 1.23888

I still expect selling to prevail in the coming week.
  • #724,148
  • Jan 28, 2023 3:04am Jan 28, 2023 3:04am
Bullish reversal PRICE action patterns (not the bullish bodied hammer)

Kindly spot the same candle (bullish bodied hammer) I mentioned had net SELL volume yesterday.

Then check your chart for the aftermath.

Did price go UP?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: price_without_volume.png Size: 9 KB
  • #724,149
  • Jan 28, 2023 3:05am Jan 28, 2023 3:05am
Quoting BrainBucks
{quote} Oh well, we've closed @ 1.2382 Bears should yet have a say prior to your prediction. If that gets to be the case, no worries, just make sure it's a delicious humble pie!
The close here on FF is 2393. My broker says 2397. Investing.com says 2399. In any case, I have eaten humble pie many times before. Hahaha...
Attached Image (click to enlarge)
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  • #724,150
  • Jan 28, 2023 3:20am Jan 28, 2023 3:20am
if there is sheer manipulation that occurs in the market as the seniors here are saying and which can be also seen do candlestick patterns really matter?
  • #724,151
  • Jan 28, 2023 3:23am Jan 28, 2023 3:23am
Quoting pipcenturion
Bullish reversal PRICE action patterns (not the bullish bodied hammer) Kindly spot the same candle (bullish bodied hammer) I mentioned had net SELL volume yesterday. Then check your chart for the aftermath. Did price go UP? {image} {image}
Someone just pointed out that the buy will still happen. He HOPES to see the effect of the bullish bodied hammer when market opens next week.

I like how someone will endure 38 pips draw down on a day that GU did a total of just 74 pips.

Again I humbly submit that "Price is nothing without volume!"
  • #724,152
  • Jan 28, 2023 3:42am Jan 28, 2023 3:42am
Quoting TheWolf
(USD) CPI Y/Y Forecast was changed from 7.0% to 6.5%... No wonder there's no retracement.. It would be funny if they put the Actual number instead of the forecast and only now they changed it..
15M Long
30M Long
Hourly Long
H4 Short
Daily Long
Weekly Long
Monthly Short (around 250 pips aways from yellow line, R)

Other pairs including USD have reached yellow Monthly line indicating 50% of Fibo is done), however USDJPY and GBPUSD are still around 200 pips away from Monthly yellow lines, USDJPY being at 125).
  • #724,153
  • Jan 28, 2023 4:14am Jan 28, 2023 4:14am
Quoting dantpm
{quote} Georginson's Monday post about GU.
Remember I subtly asked him to post the sell side projections on that day?
  • #724,154
  • Jan 28, 2023 4:24am Jan 28, 2023 4:24am
[quote=pipcenturion;14304571]{quote} Remember I subtly asked him to post the sell side projections on that day?[/quote
Hmmmmmm]

Quoting Georginson
{quote} Sellers may have to wait till 1.2300 breaks down, failure to break down such area, Market makers will aim for stop losses to 1.2550 - 1.2600 area before bears can come in aggressively which will be some 450 - 630 pips correction. I may be wrong but that's what the price structure is showing at the moment.
Expect 1.2550 - 1.2600 next week if price fails to break down 1.2300 - 1.2330...

This concluded week also recorded another low range which means next week expected range will be between 250 - 330 pips, considering January and February days will happen in the same week.
Data + Stat + Risk/Emotions Management
  • #724,155
  • Jan 28, 2023 4:41am Jan 28, 2023 4:41am
[quote=Georginson;14304576]
Quoting pipcenturion
{quote} Remember I subtly asked him to post the sell side projections on that day?[/quote Hmmmmmm] {quote} Expect 1.2550 - 1.2600 next week if price fails to break down 1.2300 - 1.2330... This concluded week also recorded another low range which means next week expected range will be between 250 - 330 pips, considering January and February days will happen in the same week.
I like "logic"

IF . . .THEN statements are lovely.

I like the fact that we had a less than usual daily range on Friday. I expect either the R3 or S3 for Monday to be far exceeded.
We have interesting times ahead!
  • #724,156
  • Jan 28, 2023 4:58am Jan 28, 2023 4:58am
The range for Friday was very low. Which is always a bit strange. However with some big data next week it’s almost understandable so the pair isn’t stuck on the wrong side. Maybe a cautious market until Wednesday?
Insane in the Brain..
  • #724,157
  • Jan 28, 2023 5:00am Jan 28, 2023 5:00am
Georginson,

I am thinking about your range analysis.

Why not include a factor of safety?

Pareto's analysis gives us the 80:20 rule

I suggest that you add the average daily range of 138 pips (using a 260-day look back period) to your weekly analysis

So, instead of saying we should expect 250 - 350 pips,you will add plus/minus 138 pips.

What do you think?
  • #724,158
  • Jan 28, 2023 5:06am Jan 28, 2023 5:06am
Quoting BeeTogether
The range for Friday was very low. Which is always a bit strange. However with some big data next week it’s almost understandable so the pair isn’t stuck on the wrong side. Maybe a cautious market until Wednesday?
Definitely! It's not the first nor the last time we are witnessing the calm before the Fed. Monday has no news, Tuesday not much and on Wednesday while there are news for USD I find it highly unlikely price will go either way since Fed is on Wednesday.

Due to the breakout on SPX, I do believe we should get another rally to 1.27 or 1.30.

Edit: I hate the Fed. Trading always sucks when Fed is around the corner.
  • #724,159
  • Jan 28, 2023 5:21am Jan 28, 2023 5:21am
Inserted Video


Attached Image (click to enlarge)
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March FOMC is more important, it will become clear who is right and who is wrong - the market or the FED. If rates >5%, FED is right...
Air force
  • #724,160
  • Jan 28, 2023 5:22am Jan 28, 2023 5:22am
[quote=pipcenturion;14304581]
Quoting Georginson
{quote} I like "logic" IF . . .THEN statements are lovely. I like the fact that we had a less than usual daily range on Friday. I expect either the R3 or S3 for Monday to be far exceeded. We have interesting times ahead!
Alternatively, you can use this approach:

I checked 30-period standard deviation for GU on H4 tf. It yielded 35 pips.
Now, statistics have it that about 99% of the normal distribution reside between +/- 3 standard deviation of the average. Meaning 35*3 = 105 pips plus or minus your weekly projection will envelope 99% of the price move for that week.
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