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Cable Update (GBPUSD)

  • #768,821
  • Edited 6:43pm Aug 20, 2023 6:31pm | Edited 6:43pm
Quoting Ferna
{quote} Sorry i must have missed. Did you write anywhere why you are in favour of the 105 target? Didn’t find the technical part of your opinion.

i didnt think i had to draw the lines since the charts looked self explanatory if you imagined they were 5 min charts like i said..i added people shud look at monthly too ....but ill do it anyways

heres the monthly chart..its at support than if you switch down to weekly looks like this...i just eyeballed the line for this demonstration cause dont want to waste too much time making the support line look pretty and touch all the points LOL

now lets go back to my original post when i asked the scalpers that never take their noses out of the 5 min chart to look at a daily what they would be doing if this weekly chart was a 5 min or even a 1 min chart

i made that dollar haters post august 13 so its already up from there

i hope you dont make me walk you thru the rest like the wyckoff spring from a drop below support and all that...im in a technical analysis website i didnt think i needed to do things step by step ferna

thats all i use...just horizontal lines..if you dont believe me look at my profile images LOL

last chart is original 13th post when dollar was 102.73
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short trump and go long the deepstate
  • #768,822
  • Edited 7:06pm Aug 20, 2023 6:42pm | Edited 7:06pm
Quoting Ferna
{quote} Sorry i must have missed. Did you write anywhere why you are in favour of the 105 target? Didn’t find the technical part of your opinion.

i wasnt getting snippy with you altho it may have come off like that but people in this site ought to have atleast a minimum of TA knowledge just assume everyone can read a chart so i dont mark them up like some people where you cant see the candles

im 56 and every year i get older i get crabbier LOL so accept my apology if i came off rude
short trump and go long the deepstate
  • #768,823
  • Aug 20, 2023 6:54pm Aug 20, 2023 6:54pm
GU --- my 3cents worth... Got news this week so could go titsup anytime ... trade at your own risk -- IF IT FAILS ITS MY ASS NOT YOURS
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  • #768,824
  • Aug 20, 2023 7:15pm Aug 20, 2023 7:15pm
Quoting Ferna
{quote} Yes explain step by step. Im a new trader and i might use other methods than the Wackoff method. I just wanted to know what you based your analysis on, as you asked for technical analysis. From my point of view not knowing any method in particular except those basic described by John.J Murphy; technically i could draw a trendline on the tops of the weekly chart. Then the we are at the top of a downsloping trendline(lower lows, lower highs) thus the trend could continue down from this peak to around 98 for the DXY. Or it could break the trendline....

i guess one gets to a point where can see support resistence and targets just by looking so dont have to draw lines...i try and make people interact and work alittle thats why in that original post i said you can look at quarterly and monthly for yourselves but i guess nobody did

ill tell you a story...my sister is 10 years younger than me so when she was in grade school learning vocabulary and spelling she wanted me to tell her the spelling and do her homework for her which i wouldnt LOL...i had a dictionary in book form for you gen exers out there they really existed LOL so i helped her sound out the beginning of words and look up each one in the dictionary and shed ace her tests now shes a doctor and i caught her doing the same thing with her kids LOL...i laughed and told my niece i made her mother do the same thing LOL

so when i post charts or give my analysis i hope someone looks at their platform and trys to find the reasoning behind what im saying..sometimes i come off as aloof or prickly but im not a teacher ill show someone the way to understand better but i wont map things out...i didnt even do that for my own sister
short trump and go long the deepstate
  • #768,825
  • Aug 20, 2023 7:17pm Aug 20, 2023 7:17pm
Quoting Ferna
{quote} Yes explain step by step. Im a new trader and i might use other methods than the Wackoff method. I just wanted to know what you based your analysis on, as you asked for technical analysis. From my point of view not knowing any method in particular except those basic described by John.J Murphy; technically i could draw a trendline on the tops of the weekly chart. Then the we are at the top of a downsloping trendline(lower lows, lower highs) thus the trend could continue down from this peak to around 98 for the DXY. Or it could break the trendline....

i dont use indicators so if you do there will be things lost in translation so to speak....the charts i post is what i trade...ill pop on an ADR or pivot points and then hide em cause they clutter my view...i like simple clean elegant type of charts thats why i love the look and feel of tradingview
short trump and go long the deepstate
  • #768,826
  • Aug 20, 2023 7:22pm Aug 20, 2023 7:22pm
Quoting Ferna
{quote} Yes explain step by step. Im a new trader and i might use other methods than the Wackoff method. I just wanted to know what you based your analysis on, as you asked for technical analysis. From my point of view not knowing any method in particular except those basic described by John.J Murphy; technically i could draw a trendline on the tops of the weekly chart. Then the we are at the top of a downsloping trendline(lower lows, lower highs) thus the trend could continue down from this peak to around 98 for the DXY. Or it could break the trendline....

i dont use diaginal lines cause they can be drawn to suit a persons bias...look at people who say they trade trendlines yet they ignore peaks and favor others...if you traded trendlines than the line should be sloping from the peak that was ignored so those people just post hindsight shit and pretend and look for an audience

horizontal lines cant be fudged cause theyre at support or resistence
short trump and go long the deepstate
  • #768,827
  • Aug 20, 2023 7:29pm Aug 20, 2023 7:29pm
in the original post i said this:

heres two views of the weekly dollar futures charts... imagine if they were 5 minute charts...would you still be shorting it? draw your lines or put your indicators on it and let me know if you disagree.... you can look at the monthly and quarterly for yoursellves

cause wasnt going to map stuff out i thought if anyone was interested theyd look at the monthly and see the support level and than have an epiphany and say yeah this shithead may have a point but nobody did it they just continue hating on the dollar and cheer the brics
short trump and go long the deepstate
  • #768,828
  • Aug 20, 2023 7:31pm Aug 20, 2023 7:31pm
Quoting Ferna
{quote} Alright goodie goodie. So no hindsight but foresight?



stay away from people that say they trade trendlines but ignore peaks and favor others...theyre just showing their bias or lying they trade it cause they would have took an earlier trade from the line going down from one of the peaks they ignored ...am i making sense? lol
short trump and go long the deepstate
  • #768,829
  • Aug 20, 2023 7:41pm Aug 20, 2023 7:41pm
Quoting Zebi
{quote} stay away from people that say they trade trendlines but ignore peaks and favor others...theyre just showing their bias or lying they trade it cause they would have took an earlier trade from the line going down from one of the peaks they ignored ...am i making sense? lol
Im totally blind tbh. To much information!
You have an IQ lower than 90 if you interact with this user.
  • #768,830
  • Aug 20, 2023 7:42pm Aug 20, 2023 7:42pm
Quoting Ferna
{quote} Yes explain step by step. Im a new trader and i might use other methods than the Wackoff method. I just wanted to know what you based your analysis on, as you asked for technical analysis. From my point of view not knowing any method in particular except those basic described by John.J Murphy; technically i could draw a trendline on the tops of the weekly chart. Then the we are at the top of a downsloping trendline(lower lows, lower highs) thus the trend could continue down from this peak to around 98 for the...
Trade at your own risk.
  • #768,831
  • Aug 20, 2023 7:45pm Aug 20, 2023 7:45pm
so lets say some guy pops up and says he trades trendlines so he would hve lost at 1 and 2 trying to catch a reversal but when he posts his charts he wont say that just redraw his line and pontificate about the long downtrend cause he ignores peaks in my second chart...trendlines lose more money for people than they make unless you use them on small timeframes than they have a better success rate and they only work on a parabolic price rise or fall


thats gold chart btw
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short trump and go long the deepstate
  • #768,832
  • Aug 20, 2023 7:56pm Aug 20, 2023 7:56pm
Quoting Ferna
{quote} aha! So the BRICS post was the main motivator and your feeling for the dollar? So not: teaching, or getting another persons technical analysis. But more to confirm what you were saying is right? Help me understand.

nobody else offered their analysis just dollar bashing all over...and i already explained i wanted the "students" to do some work learning and to look at the monthly chart and see the support....i dont care if they did or not...not my concern if they want to stay ignorant ill push people in the right direction and the rest is up to them
short trump and go long the deepstate
  • #768,833
  • Aug 20, 2023 7:56pm Aug 20, 2023 7:56pm
Quoting Zebi
{quote} i dont use diaginal lines cause they can be drawn to suit a persons bias...look at people who say they trade trendlines yet they ignore peaks and favor others...if you traded trendlines than the line should be sloping from the peak that was ignored so those people just post hindsight shit and pretend and look for an audience horizontal lines cant be fudged cause theyre at support or resistence
That's how I have thought it too when I first encountered trendlines.

Everyone teaches that trend lines should always be from swing to swing.

Until I learned that these trend lines are zones where buyers or sellers might enter again, it's just like using fibonacci where price is more discounted or premium in that area.

A chart will speak better.

There is more to this but this is the gist.
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The market hides a perfect geometry.
  • #768,834
  • Edited 9:05pm Aug 20, 2023 8:29pm | Edited 9:05pm
Quoting Ferna
{quote} Im totally blind tbh. To much information!
the way i learned ferna so long ago LOL was by trying to reverse engineer peoples systems...it was more difficult to post charts 20 years ago so after determining who were the good traders id look at at the my charts when someone called out a trade and try to see why he took it ..i spent weeks months fiquering out with indicators or price action depending on how he said he traded and took a long time...maybe years before i understood more about the way price reacts at different levels

like that monthly dollar chart...that support is so strong and years in the making that its going to chew up every asian and brics currency in my mind... i dont know why and dont care but i think something big like a war will happen over there

and i was laughing and kidding the gold bulls for months that a comet will have to hit earth for gold to breakout to new highs all because of that dollar chart that nobody in the gold thread ever bothered to look at for 4 months...theyd look at the 4H and daily dollar chart but i kept my mouth shut about my ace in the hole


heres an example from may..look at the monthly gold chart now LOL

https://www.forexfactory.com/thread/...3#post14444993


so if you take away one thing from our converstaion ferna is look at hier timeframes atleast once a month and youll be ablwe to predict the future the way i did on gold LOL
short trump and go long the deepstate
  • #768,835
  • Aug 20, 2023 8:32pm Aug 20, 2023 8:32pm
In light of the current market conditions, I am initiating a short position on GBP/USD at the price of 1.274, with a designated take profit level set at 1.26786. To manage potential risk, a stop loss order has been placed at 1.2811. This strategic approach aims to capitalize on the anticipated price movement while maintaining a proper risk management strategy.


The trade can be monitored on my Trading Journal in my profile.
  • #768,836
  • Aug 20, 2023 8:34pm Aug 20, 2023 8:34pm
damn i need a bigger keyboard cause my fat fingers keep making typos by pressing on two tiles at once...you all get the gist im not fixing my typos from now on LOL
short trump and go long the deepstate
  • #768,837
  • Aug 20, 2023 8:36pm Aug 20, 2023 8:36pm
i always like using the 5 min comparison when looking at such longterm charts ferna
short trump and go long the deepstate
  • #768,838
  • Aug 20, 2023 8:48pm Aug 20, 2023 8:48pm
BUY GU @ 1.2735

Buy limit:
1.2730
1.2725
1.2720
1.2715
Soft inside, Hard outside
  • #768,839
  • Aug 20, 2023 8:49pm Aug 20, 2023 8:49pm
Trend line is just a tool. You need context to trade it.
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The market hides a perfect geometry.
  • #768,840
  • Aug 20, 2023 8:49pm Aug 20, 2023 8:49pm
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The market hides a perfect geometry.
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