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Cable Update (GBPUSD)

  • #792,621
  • Edited 4:59am Nov 24, 2023 4:21am | Edited 4:59am
All last leg ups in action repeatedly to somehow bull towards 2600/41. Watching. Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #792,622
  • Nov 24, 2023 4:25am Nov 24, 2023 4:25am
we have a head and shoulders pattern...
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Trendlines H1,H4, SMC
  • #792,623
  • Nov 24, 2023 4:30am Nov 24, 2023 4:30am
Something weird going on with EURGBP
  • #792,624
  • Nov 24, 2023 4:35am Nov 24, 2023 4:35am
Quoting navk
This long I traded for 580 bucks. 1 : 3 risk/reward I will be longing until NYO. Then decide {image}
I think I am done on longs until NY open.

1.5 % reasonable profit on long trades in this 40 pips range.

1.2600 is what i expect today but let NY open.
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Intraday only.
  • #792,625
  • Nov 24, 2023 4:38am Nov 24, 2023 4:38am
Quoting Traderview
Something weird going on with EURGBP
Should be going to 8600
  • #792,626
  • Nov 24, 2023 4:40am Nov 24, 2023 4:40am
I am done for the day.
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Intraday Trading is an Art _ hoda
  • #792,627
  • Nov 24, 2023 4:43am Nov 24, 2023 4:43am
Quoting Traderview
Something weird going on with EURGBP
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  • #792,628
  • Nov 24, 2023 4:47am Nov 24, 2023 4:47am
Quoting josip
we have a head and shoulders pattern... {image}
Would someone smarter than me please confirm the dynamics of the H&S and W or M?

I believe with the :
-H&S you look at a minimum expected move of 1/2 the distance between the extreme and the neckline,
-W or M you look at 1/2 the distance of the nearest branch as the expected move

In both cases the move can be exaggerated and in both cases you can have a significant snap back.
Any takers?
  • #792,629
  • Nov 24, 2023 4:48am Nov 24, 2023 4:48am
I can take a break until the news is announced. it is uptrend.
If the numbers at 3.45pm is good for the dollar, we could fall below 1.25
Trendlines H1,H4, SMC
  • #792,630
  • Nov 24, 2023 4:50am Nov 24, 2023 4:50am
And 25% lost
  • #792,631
  • Nov 24, 2023 4:57am Nov 24, 2023 4:57am
Quoting Moty
Short gj for 21 pips {image}
Exit at opposite signal -6 pips
Enter again at daily r1
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yes yes yes
  • #792,632
  • Nov 24, 2023 5:09am Nov 24, 2023 5:09am
I spoke too soon. It got 0.8 pips from my SL before turning around. Still in loss overall for the day but at least it's returned to the correct side of my entry.

Although I'm kind of expecting it to continue up to about 1580
  • #792,633
  • Nov 24, 2023 5:11am Nov 24, 2023 5:11am
Quoting dantpm
{quote} Would someone smarter than me please confirm the dynamics of the H&S and W or M? I believe with the : -H&S you look at a minimum expected move of 1/2 the distance between the extreme and the neckline, -W or M you look at 1/2 the distance of the nearest branch as the expected move In both cases the move can be exaggerated and in both cases you can have a significant snap back. Any takers?
I agree with you, although I don't trade this type of pattern, I prefer wedges and trend lines.
But based on this pattern I can calculate how many points the price will go in a certain direction. Maybe not right away.
And according to today's pattern, it will be about 100 points from the 1.2560 level
My little hunch that we're going to go down. Anything is possible....
Trendlines H1,H4, SMC
  • #792,634
  • Nov 24, 2023 5:41am Nov 24, 2023 5:41am
Back on the wrong side of my entry.

When I got up this morning I said to myself that I shouldn't trade today as I ended up having a good week so far. But then I decided to and take the signals that present themselves. Should have listened to myself initially. Looks like I'm about to lose all my weeks winnings.
  • #792,635
  • Nov 24, 2023 5:46am Nov 24, 2023 5:46am
Is this another new weekly high by a few pips before a down move like it's been doing all week?
  • #792,636
  • Nov 24, 2023 5:46am Nov 24, 2023 5:46am
Quoting MrFanciful
And 25% lost
it took me 7 years of losses and building a winning strategy until i turned up my losses to winnings.

its a process we have to go through unfortunately
  • #792,637
  • Nov 24, 2023 5:48am Nov 24, 2023 5:48am
Quoting fxmasterdxb
{quote} it took me 7 years of losses and building a winning strategy until i turned up my losses to winnings. its a process we have to go through unfortunately
Good job I'm on my 7th year then. Will take a lot to turn this £20,000 of losses around
  • #792,638
  • Nov 24, 2023 5:50am Nov 24, 2023 5:50am
Short
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yes yes yes
  • #792,639
  • Nov 24, 2023 5:51am Nov 24, 2023 5:51am
Quoting MrFanciful
Is this another new weekly high by a few pips before a down move like it's been doing all week?
Watch out fr weekly R1--1.2575....cud gv u some green pips if u short there
  • #792,640
  • Nov 24, 2023 5:58am Nov 24, 2023 5:58am
Wondering whence this liquidity comes to threaten the almighty weekly high
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