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Cable Update (GBPUSD)

  • #729,501
  • Feb 16, 2023 8:31am Feb 16, 2023 8:31am
Quoting donfriday
Its my personal atr setup this may not match everyone atr setup {image}
Don, what ATR values do you use? I use 80%, 100%,120%, and 150% daily ATR(14) for my targets/reversals.
Always trade your own plan...I don't provide trading signals.
  • #729,502
  • Feb 16, 2023 8:34am Feb 16, 2023 8:34am
NYO time let’s see a spike up to define the session
Insane in the Brain..
  • #729,503
  • Feb 16, 2023 8:41am Feb 16, 2023 8:41am
Quoting Robinhood1
{quote} From that moment, the 1.2400 to 1.1750 leg may come into play.
there is a very important inflection point, breaking 1.1961 will send the price towards 1.2600 and otherwise the "leg". Maybe
POSTMASTER
  • #729,504
  • Feb 16, 2023 8:42am Feb 16, 2023 8:42am
Enter buy
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yes yes yes
  • #729,505
  • Feb 16, 2023 8:42am Feb 16, 2023 8:42am
One more H4 down which should do the job of reaching 1.193. probably TP then.
  • #729,506
  • Feb 16, 2023 8:43am Feb 16, 2023 8:43am
Long XAUUSD @ Market TP open SL 1827
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  • #729,507
  • Feb 16, 2023 8:45am Feb 16, 2023 8:45am
Quoting Coreg2004
{quote} Don, what ATR values do you use? I use 80%, 100%,120%, and 150% daily ATR(14) for my targets/reversals.

I personally named it my ATR and it work well

price ending at 50 is magical, its rare to see gbpusd not reaching a price ending with 50 in a day even in tight range

so my Daily ATR stand at 100pips distance

weekly 250pips distance.
MY OPINION NOT FINANCIAL ADVISE
  • #729,508
  • Feb 16, 2023 8:47am Feb 16, 2023 8:47am
Quoting Robinhood1
GU will not strengthen until Uchf finishes its impulse which is at this moment, under pressure but eventually sucumb
When several pairs are examined, it is clear that the value of the USD is driving the USD pairs. So it is more likely that as long as USD continues as the driving force, GBPUSD will strengthen in tandem with USDCHF finishinig its impluse as USD turns down.
To free Gazans of Hamas, use whatever it takes.
  • #729,509
  • Feb 16, 2023 8:48am Feb 16, 2023 8:48am
Trying to stop usdchf affects rest of the market. We are stuck. No fear. Anti-natural, never works.
POSTMASTER
  • #729,510
  • Feb 16, 2023 8:56am Feb 16, 2023 8:56am
Gone a bit quiet here…. No red sticker data according to DailyFx tomorrow so it could be a slow one. If we go up will look to take profit at b/e 12075
Insane in the Brain..
  • #729,511
  • Feb 16, 2023 8:58am Feb 16, 2023 8:58am
Quoting greenpips4
{quote} the higher the timeframe the more reliable it is .. thats what I have experienced. regards mate.
Really, that is not true. Financial time series are fractal-like in nature. So whatever you are seeing on a "big" TF that makes you feel like it is "more reliable" has nothing to do with the actual structural aspect. Therefore, I suspect that you arrive at this conclusion because when you deal with ANY TF regarding orders and pips, you work with EXACTLY the same scale. You cannot scale down what a pip is as you scale down the TF. This is similar in concept to multiple bars of smaller TFs build a single bar on a larger TF. But you have no such entity as "smaller pip" that builds a single pip on a larger TF. So you have items that you have scaled differntly on the samller TFs compared to items that you have scaled the same on the large TF, rendering a comparison between smaller and larger, in this case, meaningless.
To free Gazans of Hamas, use whatever it takes.
  • #729,512
  • Feb 16, 2023 8:59am Feb 16, 2023 8:59am
Quoting davelansing
{quote} GU is not dependent on USDCHF, there's only a modest negative correlation but this tends to fluctuate quite dramatically (unlike the correlation between USDCHF & EURUSD). Also, correlation is not causation.
this is very true, correlation could be there but in the end, there are different pairs just like how btc market is different than the forex market. They can move inversely or negatively there could be a relationship. However, this may not always be the case they can decouple from each other for a bit and I’ve seen it many times . Like right now, I noticed for years btc was moving with eurusd, now I’m seeing a decoupling and same thing happened with the ftx scare.
Master your mind. Master Trading.
  • #729,513
  • Feb 16, 2023 8:59am Feb 16, 2023 8:59am
Quoting donfriday
{quote} I personally named it my ATR and it work well price ending at 50 is magical, its rare to see gbpusd not reaching a price ending with 50 in a day even in tight range so my Daily ATR stand at 100pips distance weekly 250pips distance.
daily ATR(14)= 129 pips X 80%=103.2
high for today @1.20743-0.103=1.19711 which confluence with shallow 127.2% ext. for potential wave (5)
We are on the same page.
Always trade your own plan...I don't provide trading signals.
  • #729,514
  • Feb 16, 2023 9:00am Feb 16, 2023 9:00am
Quoting Robinhood1
And this is all i am holding only. gbpnzd & usdchf {image}
Closed gbpnzd for strategic reasons

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POSTMASTER
  • #729,515
  • Feb 16, 2023 9:01am Feb 16, 2023 9:01am
Quoting pipfarm
{quote} I am probably wrong, but D1 made a correction, H4 can see the 3 swings up, and then the swing down taking out the last higher low, i would of expected a correction after that higher low broke down but maybe we are still in that swing, if H4 makes a correction for sure i will take a short but at the current level i did not think it suitable for me.
i totally agree with you.
1 more up move to take the house down.
  • #729,516
  • Feb 16, 2023 9:02am Feb 16, 2023 9:02am
Quoting BeeTogether
Gone a bit quiet here…. No red sticker data according to DailyFx tomorrow so it could be a slow one. If we go up will look to take profit at b/e 12075
One more H4 candle and I'll TP. Wednesday, FOMC Meeting Minutes. Although Tuesday should give us some play.
  • #729,517
  • Feb 16, 2023 9:05am Feb 16, 2023 9:05am
EURUSD

Target the black line first.
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My telegram: https://t.me/avidforex
  • #729,518
  • Feb 16, 2023 9:05am Feb 16, 2023 9:05am
will add long position at 1.19650 area
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yes yes yes
  • #729,519
  • Feb 16, 2023 9:07am Feb 16, 2023 9:07am
FREEDOM AT LAST!

WATCH 1.19300 tell me the reaction you see when price gets there. Get ready for another set up when price arrive the station.


@BigNumbers.
My telegram: https://t.me/avidforex
  • #729,520
  • Feb 16, 2023 9:11am Feb 16, 2023 9:11am
Quoting BigNumbers
FREEDOM AT LAST! WATCH 1.19300 tell me the reaction you see when price gets there. Get ready for another set up when price arrive the station. @BigNumbers.
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