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Cable Update (GBPUSD)

  • #735,661
  • Mar 12, 2023 3:39am Mar 12, 2023 3:39am
Quoting JereMi256
{quote} We nearly have a confluence, 1.1965 is my defence line for a push to 1.2155-1.22 area. Well done for the research, Baba. JereMi.
Yes mate, totally agree with that 1.1965 being a defense line for a push towards 1.2155 - 1.22 area...

On the second thought, if you check the weekly candle this year, you will see a case of lower highs and lower lows. Which is to an extent tilting towards a bearish move to 1.16 axis.

On the third note, this March is the last month of the first quarter and each quarter usually averages 700 - 850 pips range, so far we are just 645 pips range which means there is still 55 to 200 more pips to equate the average expected range for a quarter with just 15 trade days left...

This takes it down to this simulations...
Average expected range for a quarter 700 - 850pips (making use of 800 pips)

1.2445 minus 800 pips = 1.1645
1.1802 plus 800 pips = 1.2602...

Current price being 1.2031 is
✓570 pips away from 1.2602
✓387 pips away from 1.1645...

While expected March range is between 500 - 650 pips ... March will have to do 800 pips range to attain 1.26, while March will have to do 470 pips range to attain 1.1645 as it stands...

The clue is relatively clear... I will stay bearish as far as 1.2215 is not breached for a target of 1.1645...
Data + Stat + Risk/Emotions Management
  • #735,662
  • Edited 4:27am Mar 12, 2023 4:07am | Edited 4:27am
Quoting Georginson
{quote} Yes mate, totally agree with that 1.1965 being a defense line for a push towards 1.2155 - 1.22 area... On the second thought, if you check the weekly candle this year, you will see a case of lower highs and lower lows. Which is to an extent tilting towards a bearish move to 1.16 axis. On the third note, this March is the last month of the first quarter and each quarter usually averages 700 - 850 pips range, so far we are just 645 pips range which means there is still 55 to 200 more pips to equate the average expected range for a quarter...
Looking at my weekly chart, this week will determine what side we shall lean towards. Bulls strongly rejected an old support. Please note that the highs of this range formed EQs just below the weekly supply. So that 800 range seems far but it's still in play. Let's wait and see.

Cheers
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Face 'ur fears & tame 'ur greed
  • #735,663
  • Mar 12, 2023 4:45am Mar 12, 2023 4:45am
Quoting makingmoves
{quote}You have no point, stop trying to act smart, your a losing retail trader who spends all day saying what can happen. Yes you can be right in a binary outcome 50% of the time!
Love this post ...
  • #735,664
  • Mar 12, 2023 5:35am Mar 12, 2023 5:35am
Quoting Georginson
I want to take back my 120 pips loss of last week, which necessitated this research work on GBPUSD.. I feel it may be useful to traders here. As always, no obligation to follow. Last 10 Months first 13 trade days range ✓485 pips ✓595 pips ✓395 pips ✓918 pips* ✓570 pips* ✓387 pips ✓290 pips ✓421 pips ✓686 pips ✓480 pips ✓200 pips ✓437 pips Most Repeated and expected: 395 - 480 pips Simulations for 13 - 17th March ✓1.2113 - 395 pips = 1.1718 ✓1.1801 +...
Thank you for sharing your research George! That effort is a real service to this forum.

I'd be interested in knowing the same data of the first three months of each year. We're only three weeks away from finishing the first quarter of the year. What is the average range of first quarters and what would be the anticipated high and low this quarter?
  • #735,665
  • Mar 12, 2023 6:46am Mar 12, 2023 6:46am
Quoting gjgriff1960
{quote} Thank you for sharing your research George! That effort is a real service to this forum. I'd be interested in knowing the same data of the first three months of each year. We're only three weeks away from finishing the first quarter of the year. What is the average range of first quarters and what would be the anticipated high and low this quarter?
Thanks for the positive feedback... As I stated in the post that a quarter usually has average of 700 to 850 pips range, so the above simulation is for this current quarter (January to March) the possible high and low cannot be clearly known but simulations can be made once 60% of the expected range of a quarter has already happened. Though some quarters have much bigger ranges in cases of unusual fundamentals.

As for this current quarter, it is pointing at either 1.26 or 1.16 to happen and we have just 3 weeks left. Next quarter starts in April to June which will have similar range average and not forgetting cases of overblown ranges.
Data + Stat + Risk/Emotions Management
  • #735,666
  • Mar 12, 2023 7:31am Mar 12, 2023 7:31am
https://www.instagram.com/reel/CnpAv...d=MDJmNzVkMjY=

Quoting Erto
https://www.instagram.com/reel/CnpAv...d=MDJmNzVkMjY=
Trading guru, he gave the signal 🤣😂🤣😂🤣😂

https://www.instagram.com/reel/Coesj...d=MDJmNzVkMjY=

Quoting Erto
https://www.instagram.com/reel/Coesj...d=MDJmNzVkMjY=
The joy of hitting Tp😂🤣😂🤣😂😂🤣😂😂😂💰💰💰💰
I'm enjoying the wins because I was once terrified by loses
  • #735,667
  • Edited 8:41am Mar 12, 2023 8:16am | Edited 8:41am
Quoting Georginson
{quote} Thanks for the positive feedback... As I stated in the post that a quarter usually has average of 700 to 850 pips range, so the above simulation is for this current quarter (January to March) the possible high and low cannot be clearly known but simulations can be made once 60% of the expected range of a quarter has already happened. Though some quarters have much bigger ranges in cases of unusual fundamentals. As for this current quarter, it is pointing at either 1.26 or 1.16 to happen and we have just 3 weeks left. Next quarter starts...
I am sticking to this, some will call guessing.

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  • #735,668
  • Mar 12, 2023 8:27am Mar 12, 2023 8:27am
Quoting Jolita
{quote} I am sicking to this, some will call guessing. .{image}{image}
Who predicts it to 1.177? Can you link the source 🙏

thank you!
How to succeed in zero sum game?
  • #735,669
  • Mar 12, 2023 8:40am Mar 12, 2023 8:40am
Quoting Indigo45
Quoting Jolita
{quote} Yes, I don't use any indicators for SR lines. Actually if we see price action, price reversal areas are figured differently for Bullish or Bearish moves. What I have figured and got successful is that...Price always range in some defined range...After fundamentals change (like Interest Rate...CPI...Employment Data...Officials Talks) that range is broken and new range is created... and Price again gets in new range until new fundamental change. Please see in the picture (I trade EURUSD)...vertical lines are drawn at
...
Many thanks for your answer in detail. Looks like you've learned good stuff from all three brilliant tradersv and combined a good strategy together. I wish you the biggest trading success.

Drawing lines from monthly, weekly time frames is a good inside where the price will be rejected or moved into the next box. I've learned this form one trader tutorial I follow.

Daily chart broke down, retested, broke up, and returned back. To me direction is still bearish as daily 1.2140 was not breached.
Weekly - 1.2270
Monthly -1.24

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Thanks Indigo.

This is only shared opinion, I will never expect anyone to follow.
  • #735,670
  • Mar 12, 2023 9:39am Mar 12, 2023 9:39am
Quoting ScalaFX
Hello all 🙂🍀 Activate selling mode 2030 till 1.17001.1650 will add more if go highera, medium term trade 🍀
Like previous posts of mine Im added higher 2100 some positions, some closed, some floating at plus, shity 2030 till 2050 closed with small profit, targets still ramain till we dont break 2110, happy trading week for everyone🍀🫶
People don't plan to lose. They lose because they don't plan.
  • #735,671
  • Mar 12, 2023 9:41am Mar 12, 2023 9:41am
Quoting Jolita
{quote}{quote} Many thanks for your answer in detail. Looks like you've learned good stuff from all three brilliant tradersv and combined a good strategy together. I wish you the biggest trading success. Drawing lines from monthly, weekly time frames is a good inside where the price will be rejected or moved into the next box. I've learned this form one trader tutorial I follow. Daily chart broke down, retested, broke up, and returned back. To me direction is still bearish as daily 1.2140 was not breached. Weekly - 1.2270 Monthly -1.24 {image} Thanks...
Hi J!
Good to hear I have your lots with me 🥰 I hope you are doing so well, cheers!🍀💪
People don't plan to lose. They lose because they don't plan.
  • #735,672
  • Mar 12, 2023 9:44am Mar 12, 2023 9:44am
Quoting ScalaFX
{quote} Like previous posts of mine Im added higher 2100 some positions, some closed, some floating at plus, shity 2030 till 2050 closed with small profit, targets still ramain till we dont break 2110, happy trading week for everyone🍀🫶
Hello ScalaFx,
What's your target profit zone(s)?
Face 'ur fears & tame 'ur greed
  • #735,673
  • Mar 12, 2023 9:54am Mar 12, 2023 9:54am
Quoting Jolita
{quote}{quote} Many thanks for your answer in detail. Looks like you've learned good stuff from all three brilliant tradersv and combined a good strategy together. I wish you the biggest trading success. Drawing lines from monthly, weekly time frames is a good inside where the price will be rejected or moved into the next box. I've learned this form one trader tutorial I follow. Daily chart broke down, retested, broke up, and returned back. To me direction is still bearish as daily 1.2140 was not breached. Weekly - 1.2270 Monthly -1.24 {image} Thanks...
Absolutely spot on Jolita... 1.2270 stays intact on weekly, 1.24 stays intact on monthly, 4 hours chart showing lower highs and lower lows...
Data + Stat + Risk/Emotions Management
  • #735,674
  • Mar 12, 2023 10:00am Mar 12, 2023 10:00am
Quoting Georginson
{quote} Yes mate, totally agree with that 1.1965 being a defense line for a push towards 1.2155 - 1.22 area... On the second thought, if you check the weekly candle this year, you will see a case of lower highs and lower lows. Which is to an extent tilting towards a bearish move to 1.16 axis. On the third note, this March is the last month of the first quarter and each quarter usually averages 700 - 850 pips range, so far we are just 645 pips range which means there is still 55 to 200 more pips to equate the average expected range for a quarter...
well said mr Spock
‘Once you have eliminated the impossible, whatever remains, however improbable, must be the truth.’
  • #735,675
  • Mar 12, 2023 10:34am Mar 12, 2023 10:34am
i am bearish toward 1.1750 until i see a break above 1.2150

selling 1.2080 100sl tp 250
selling 1.2180 sl 100 tp 300



focusing on position and swing trade lately getting old for day trading .

MY VIEW
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MY OPINION NOT FINANCIAL ADVISE
  • #735,676
  • Mar 12, 2023 11:01am Mar 12, 2023 11:01am
Quoting ScalaFX
{quote} Hi J! Good to hear I have your lots with me 🥰 I hope you are doing so well, cheers!🍀💪
Hello ScalaFX, nice to see back!
Hope all is well with you and family 🙂.
I'm good thank you, a bit busier with work than normal, but can't complain. See u.&🤞
  • #735,677
  • Mar 12, 2023 11:06am Mar 12, 2023 11:06am
Quoting Georginson
{quote} Absolutely spot on Jolita... 1.2270 stays intact on weekly, 1.24 stays intact on monthly, 4 hours chart showing lower highs and lower lows...
Thanks Georginson, appreciate your analysis, always.
We will see where this week will take us, we never know 💯%. Have you checked Sept 2008 chart? Hope all issue will be sorted this time. Some are saying JP Morgan next.
  • #735,678
  • Mar 12, 2023 11:27am Mar 12, 2023 11:27am
Quoting Jolita
{quote} Thanks Georginson, appreciate your analysis, always. We will see where this week will take us, we never know 💯%. Have you checked Sept 2008 chart? Hope all issue will be sorted this time. Some are saying JP Morgan next.
That September 2008 chart was the beginning of the global financial Crisis. As regards JP Morgan, in every silent rumor, there may be some atom of truth. Fingers crossed.

As you said, let's see where this week will head to as it is a very crucial week.
Data + Stat + Risk/Emotions Management
  • #735,679
  • Mar 12, 2023 12:34pm Mar 12, 2023 12:34pm
Quoting JereMi256
{quote} Hello ScalaFx, What's your target profit zone(s)?
Hi Jeremi,
Still the same like original post 1.17 min till 1.1650, then will see what to do next. I DONT see price higher than last hh but everythink can be in play, Im adding max till 2150 but it this barier will be broken sharply I will cut all with some loss and searching for medium term longs. See ya buddy
People don't plan to lose. They lose because they don't plan.
  • #735,680
  • Mar 12, 2023 12:56pm Mar 12, 2023 12:56pm
Quoting ScalaFX
{quote} Hi Jeremi, Still the same like original post 1.17 min till 1.1650, then will see what to do next. I DONT see price higher than last hh but everythink can be in play, Im adding max till 2150 but it this barier will be broken sharply I will cut all with some loss and searching for medium term longs. See ya buddy
Clean plan, you usually do some hedging just in case, that's what I like you for.

Green pips budd🍃
Face 'ur fears & tame 'ur greed
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