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Cable Update (GBPUSD)

  • #725,761
  • Feb 2, 2023 11:14am Feb 2, 2023 11:14am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting Coreg2004
{quote} Nothing has changed since morning. I would like to see 1.2220 but 120%dailyATR(14) has already hit. We see. {image}
According to my stats, 91% probability 1.2220 will hit between today and tomorrow. Probably tomorrow it'll hit, but never know.
"Wishful thinking dies hard." Igor T.
  • #725,762
  • Feb 2, 2023 11:14am Feb 2, 2023 11:14am
One final push down towards 12200 let’s go lol
Insane in the Brain..
  • #725,763
  • Feb 2, 2023 11:16am Feb 2, 2023 11:16am
Last trade long 1.2250 SL 1.2220 TP 1.2320
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #725,764
  • Feb 2, 2023 11:16am Feb 2, 2023 11:16am
Quoting Waveskierrob
{quote} SHORT again 12315 no tp no sl .....gunna have me a Chiko fight ...
Bet you took your profit ages ago Pat?.....but today I'll take mine .....Closed 12260 + 55 pippers minus swaps .....Still have 8 SHORTS underwater just playing the waiting game...
  • #725,765
  • Feb 2, 2023 11:18am Feb 2, 2023 11:18am
Quoting Waveskierrob
{quote} Bet you took your profit ages ago Pat?.....but today I'll take mine .....Closed 12260 + 55 pippers minus swaps .....Still have 8 SHORTS underwater just playing the waiting game...
you gonna his onto them? I have that area as my TP for trades from 12258
Insane in the Brain..
  • #725,766
  • Feb 2, 2023 11:20am Feb 2, 2023 11:20am
Quoting RemyLou
{quote} ok how do you read it?it seems effictient
Alright:

When candles are below the gray, yellow and blue lines, then I use the lines as Resistance areas.

In order of importance:

Most important is gray then yellow then blue (blue is more for confirming if sell or buy will have added momentum).
See the H4 chart for GBP/USD I have shared today.

Same is valid when the candles are above the lines, however this time lines are Support areas.

Now, when gray and yellow line cross each other, that means one should expect either buy or sell to follow. If gray goes below yellow line that indicates sell, if it goes above the yellow line that indicates buy is coming.

For the best use of this indicator, (took me a little a while to understand how can one best use this indicator) I suggest starting from 15M chart. If 15M chart confirms buy or sell, then start focusing on 30M chart and where Support or Resistance lie on 30M chart and so on.. for scalping 15M and 30M are great. When H1 confirms buy or sell it usually lasts the whole day. H4 and Daily of course for the long run. On H4 and Daily chart much more attention should be given to the blue line and where it is. If it's above all the lines and candles it suggests stronger sell and vice versa, but only use it on H4 or Daily chart.

As said, gray is the most important line you should pay attention to.

The indicator works as Fibonacci, but it's CONSTANTLY adjusting itself to correctly anticipate where retracement are very likely to end. It's not rigid Fibonacci, it's always adjusting to what's going on.

Amazing for trending, not as accurate to use when price is ranging.
When price ranges you'll get bad signals on where to enter short or long. You could probably use minute TF or 5 minute TF, but haven't tried it myself.
  • #725,767
  • Feb 2, 2023 11:26am Feb 2, 2023 11:26am
Quoting SnailFX
{quote} Alright: When candles are below the gray, yellow and blue lines, then I use the lines as Resistance areas. In order of importance: Most important is gray then yellow then blue (blue is more for confirming if sell or buy will have added momentum). See the H4 chart for GBP/USD I have shared today. Same is valid when the candles are above the lines, however this time lines are Support areas. Now, when gray and yellow line cross each other, that means one should expect either buy or sell to follow. If gray goes below yellow line that indicates...
What's the name of the indicator?
  • #725,768
  • Feb 2, 2023 11:28am Feb 2, 2023 11:28am
So much hate in this thread.

Good luck on NFP tomorrow and have a blissful weekend.
Data + Stat + Risk/Emotions Management
  • #725,769
  • Feb 2, 2023 11:32am Feb 2, 2023 11:32am
Quoting FxChi
{quote} According to my stats, 91% probability 1.2220 will hit between today and tomorrow. Probably tomorrow it'll hit, but never know.
FxChi, how do you calculate the probability that a certain number will be reached? dailyATR(14) is 120 pips so 120% give us 144 pips for today range which has been reached at 1.22578. 1.2212 is 127.2% extension of midiocare last week range. But i have no clue how to calculate probabiliies that these numbers show up. Help me, please.
Attached Image (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #725,770
  • Feb 2, 2023 11:38am Feb 2, 2023 11:38am
Quoting Georginson
So much hate in this thread. Good luck on NFP tomorrow and have a blissful weekend.
So much hate in this thread.
I HATE hearing that!
To free Gazans of Hamas, use whatever it takes.
  • #725,771
  • Feb 2, 2023 11:38am Feb 2, 2023 11:38am
Quoting Georginson
So much hate in this thread. Good luck on NFP tomorrow and have a blissful weekend.
Hate? Here? How come
Are you conversant with Nairaland? Threads there make ours here seem like paradise parlor!
  • #725,772
  • Feb 2, 2023 11:41am Feb 2, 2023 11:41am
Quoting Georginson
{quote} Spot on...
Yes target achieve but now,
bear will be continue or where is there hitting target and tomorrow also NFP, i thing have your some aide,we want your sharing.
Thankyou very much,
  • #725,773
  • Feb 2, 2023 11:41am Feb 2, 2023 11:41am
KISS

https://www.livecharts.co.uk/Members...rex_pivots.php
  • #725,774
  • Feb 2, 2023 11:41am Feb 2, 2023 11:41am
Quoting pipfarm
Holding my short until there is a reason to exit, not interested in the short terms swings up and down, the larger swings are in control.
Well well well , turned into a cracking trade
Follow The Markets Structure - Patience and Discipline
  • #725,775
  • Feb 2, 2023 11:43am Feb 2, 2023 11:43am
Quoting pipfarm
{quote} Well well well , turned into a cracking trade
Bears will go to around 2100 as this H1 move stems from a daily correction
Follow The Markets Structure - Patience and Discipline
  • #725,776
  • Feb 2, 2023 11:43am Feb 2, 2023 11:43am
Nasdaq stays last days very strong. Up move is much larger than its down moves.

Don’t know if it will stay like this but maybe it will.
  • #725,777
  • Feb 2, 2023 11:48am Feb 2, 2023 11:48am
Quoting Eren10
Nasdaq stays last days very strong. Up move is much larger than its down moves. Don’t know if it will stay like this but maybe it will.
Burry has tweeted "SELL" but has been SHORT over a year now , but folks do take notice of him DJIA down 150 Nasdaq up 400 strange times...
  • #725,778
  • Edited 12:24pm Feb 2, 2023 11:50am | Edited 12:24pm
Quoting tradexyz
KISS https://www.livecharts.co.uk/Members...rex_pivots.php
give them something to talk about they'll take debaite... adapt TIFFestival or... how about .... awareness...
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  • #725,779
  • Feb 2, 2023 11:56am Feb 2, 2023 11:56am
You are good friend mister stochastic
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yes yes yes
  • #725,780
  • Feb 2, 2023 11:57am Feb 2, 2023 11:57am
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