Cable Update (GBPUSD)

BLAH BLAH BLAH... Wish in one hand and shit in the other and see which one fills up faster...

I find it demonstratively hilarious that you even made it off "babypips" boy. I say boy because I think a girl would have had the sense to learn from their mistakes and poor evaluation. Let's look at this -

I'll work backwards so you KNOW I'm using hindsight dumbass. The rate of change entering your "support area" conceded 4 ... yes FOUR .... resistant lows before moving north. So ... BEFORE it moved up in that 4th "green/bullish"period, it SHOWED what it was going to DO. NOT MIGHT DO. No. DO. If a person understands money then you know SOME people refuse to overpay for their positions so they seek to get in at the edge of RESISTANT activity. ** What's this support rubbish anyway?? WHOSE support? Yours? Your "trader mates'?" Hihihihihi. So, "support is just your story not real life. Doesn't exist and NEVER DID exist. Trade anything and you'll see it. Coming into your "support area" you have not 1 but 2 overextended inside wedges. For idiots who are "traders" in their mum's basement, this shows a progressive but resistant rate of change forming on the inside left to what WILL happen because you have "others" either moving money in or out. Otherwise it would merely be a flow of down moves in the progressive period of the day. You think it's cool or tricky or timely or convenient etc to use a 10min chart but don't kid yourself, your time is being eaten away regardless of the chart tf you use. One can observe this by looking at where you enter. It's not aimed for the extreme where limits meet market pricing, no. It's at the fringe where "amateurs" get stopped out very frequently by "unexpected" spikes or turns or "news" events hihihihi. The inside high that formed prior to you entering tells you that money is changing hands and now seeking to prepare for its next up move. But you probably missed this as you don't see money flowing, you see "candlesticks". Just as a side note - your ATR is not relating to ROC so it's likely you think "it's showing you something sneeky or clever or basic or simple". Sorry it's not. There's no money bias shown so you're just guessing. Moving further back - Up past the 2 inside wedges, is the "main big ostentatious high" that everyone would see. It took 4 pushes to get up past that previous high price that required 3 pushes of its own to make that high, so one can see that money is shifting with more money coming in than out. Why? There's a 'hard push' then a broken gap then 2 more THEN before its return, you have not 1 but 2 limit-to-market pricing "spikes" and although I cannot see left I would wager that congestion to some degree to that high is nearby, either directly or as a time split (where your 'large bar' splits the real congestion of pricing from where it's moving). Between the two "big recent highs" you have your inside high that shows money leaving and this time you have 3 L-to-MP positions form-ing (AKA you can observe this in real time not just in hindsight) like a dinky website "trader". And before that you have a break in the rate of change which is where the activity is moving up and your pic cuts off the chart. THAT is very very very basic from me. Take it or leave it. So labels aside re: "being a trader" or not etc, I would say you have a lot to apologize for, to the people on this site. Either you're a wannabe with a big mouth, or, you know more than you let on, but do not share it with people here. I could be wrong but really I don't care either way. "Modern price action" is for children. You're guessing. That is all.

The use of fibs in that space of time and pricing makes no sense UNLESS you're guessing and then merely holding your directional opinion of that situation. As do most people on these sites. Coupled with a fixation with "win SR" and R:R fantasy modelling. Sorry, real life doesn't present "the same setup" the same way every time. You're not looking at the situation you're attempting to "trade it". That's the problem. So it's no surprise why you people cannot fathom a 1-5% return on daily investment. You're believing BEFORE verifying the other perspectives of "how to". Like I said, common sense.

Please note - although I did a reverse evaluation, that situation occurs EVERY SINGLE DAY on every chart and time frame of the GBP-USD. Notice I didn't mention "news" nor trends nor anything else. Naturally trade costs must be considered but if you're wondering why you're not learning, it's simple - you see and say "setup", a person like me says and sees "situation". You can argue about it til the cows come home but it will always be that difference.

Trading an instrument that demonstrates daily, that there is only upper or lower resistance and the push in between, one needs to question their observation skills and narrow thinking before assuming they understand their trading perspective. Seeing as I've just proven that, gefx, maybe you now let up and sit down shut up and rethink your "knowledge". So as I said - learn or don't learn.

Peter

I closed my G$ trade at 1.2958, and will wait for a new entry after a pullback. Good trading everyone.

Gold looks good.. Take a few pips

guys, dxy has a gap..
but it keep going down.. lucky i keeping the bulls on GU..
will the dxy going reverse to close the gap today?

The way asia is doing today... we might see a drop in GU after news.

Dunno.

Better watch out.

GU

arrived at FVG.
waititng for N3 set up.

GU

Warm up trade.
Trying some luck with this trades.

Bro.
please do not attempt to buy at Premium.
Wait for Discount, it's cheaper

I just took some tiny profit from the gold.
We may try later after the pullback.
The GOLD trades here.

Why anyone that asked you a question should always get spanked in your story?

Yeah. You are correct on the price losing strength in my opinion for which reason I expect a slight drop on CPI today just so USD can recover somewhat. However, after that I'm looking for Longs to 1.335 or what you mentioned 1.343.

Great Chart to share! Really shows the picture of what is going on. So, only after 1.42 is broken do this downtrend finally ends.

I like the profile picture, it's so calming! Even better than the Moon!

you insulted my intelligence when you ask me a condescending question. i wont let anyone take a jab at me for free, ill always return the energy.

I respect that
Not gonna let anything slide.

USD/CHF on the bottom of the multi-year Range that started in 2011.
~0.877 is the lowest Monthly close from 2011. and price is here.

Last chance to Buy Gold? Would love to see green numbers today on CPI. We would get a pullback on GBP/USD and Gold and Yen pairs.

good morning traders
As far as I see we are inside of extended 5th wave and inside the extension this morning it’s look like the end of 3rd.
im not an Elliot wave trader but I do use it as a main big picture guideline.

A lot of short term low occurred yesterday, we might take them all out before another high.

Only problem is USD might weaken more this week.

it will take out the swing low.
unfortunately I was looking it to test higher area this week before that crash