Cable Update (GBPUSD)

Quoting DrDave

Disliked

{quote} That's the interesting thing about financial time series: All kinds of "systems" have been concocted to try to produce a specific target (predict/guess where price is going). And as can be observed, they do a poor job of it; sometimes overshoot, sometime undershoot, so a big "fudge factor", called a "range of values", gets introduced so that the hit rate for the predicted value is improved. A chaos model has a very good explanation for this, as well as the often seen unexpected price spikes and other "strange" price behavior. Price is a...

Ignored

Quoting Zebi

Disliked

powell hawkish so i dont know why the buying except to pump and dump

Ignored

Quoting Nordling

Disliked

powell hawkish by now, wait for the press questions to confirm the direction

Ignored

Quoting donfriday

Disliked

{quote} zoom deeper u will see a 3 years print of Vshape....the target is up 1.4 to 1.5 might take a while

Ignored

Quoting DrDave

Disliked

{quote} I think that you will find that most of the folks reading this thread are Day traders. So that "high target" is not yet relevant for them.

Ignored

Quoting birdland

Disliked

{quote} I actually agree with you here, because MN is clearly in a downward trend. but the daily trend is still upwards, and it will not leave this trend to MN without a fight;-) we may not see 1.3141 anytime soon, but the 1.28-1.29 territory is definitely achievable.

Ignored

Quoting DrDave

Disliked

{quote} It is not clear to me how you maintain that Daily is in an up trend. Do you subscribe to the simple model of a down trend as comprising 3 swings: down, retrace up, return down? If yes, then examine the Daily chart below. From tht highest high, the white/blue line is Weekly, magenta/yellow D2, and red/green D1. So, both D1 and D2 have a down, retrace up, return down = DOWN TREND. And if D1 builds a swing of Weekly, then we see right here the white Weekly down swing built by the D1 1-2-3 down trend. {image}

Ignored

Quoting DrDave

Disliked

{quote} It is not clear to me how you maintain that Daily is in an up trend. Do you subscribe to the simple model of a down trend as comprising 3 swings: down, retrace up, return down? If yes, then examine the Daily chart below. From tht highest high, the white/blue line is Weekly, magenta/yellow D2, and red/green D1. So, both D1 and D2 have a down, retrace up, return down = DOWN TREND. And if D1 builds a swing of Weekly, then we see right here the white Weekly down swing built by the D1 1-2-3 down trend. {image}

Ignored

Quoting birdland

Disliked

i bought first at 1.2717, second at 1.2636 and third at 1.2592. will TP above 1.2720-1.2750

Ignored

Quoting Scotteyy

Disliked

{quote} One could argue we are still in an uptrend on the daily based on the fact that we haven't breached and closed below 1.2590 which was the highest HL of the previous uptrend. Although that last swing was a big one and it would be a shame to miss out on all the pips on the way back down. It can be difficult for me to judge whether to wait for a market structure change of character (Break and close below 1.2590) or just go with the LH's and LL's being printed in the price range of that last bullish swing.

Ignored