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Cable Update (GBPUSD)

  • #792,761
  • Nov 25, 2023 9:01am Nov 25, 2023 9:01am
It seems that movement of currency pair in upward channel for almost month could bring good profit.
It's always pleasant when you buy at bottom of such a channel and sell at its upper line. I would like such a movement to never end.
  • #792,762
  • Nov 25, 2023 9:08am Nov 25, 2023 9:08am
Quoting navk
{quote} 1.2800 by december end max. Monthly is bearish to me.
Navk.
Unless you see something different I see a massive monthly bullish candle. Kindly post your assessment but to an extent
I agree that we will probably have some sort of retracement towards my future weekly pivot at 1.25500.
Cheers.
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Trade to trade another day
  • #792,763
  • Nov 25, 2023 9:21am Nov 25, 2023 9:21am
Quoting BigNumbers
The dream of becoming a professional trader is very much like someone aspiring to become a surgeon. You can not rush the process, after acquiring some knowledge, you must first conduct surgeries on animals before you do it on humans, like wise in Forex you do the demo before going to a live account. Know this and you’ll find some peace through the transition process. CADCHF analysis. {image}
I am liking this market long as long as the 0.6450 holds. A good entry is 0.6470. If a trader wanted additional confirmation wait to see what happans at 0.6500 and a nice entry is 0.6520.
  • #792,764
  • Nov 25, 2023 9:28am Nov 25, 2023 9:28am
Quoting MrFanciful
I just ran backtested my trading bot on yesterday, doing a parameter optimisation and it ran 860 different sets of parameters and every single run though was in profit. Not a single set of parameters would have ended my in a loss for the day. {image}
Only works in a backtest.
This is one investment in a bucket of thousands!
  • #792,765
  • Nov 25, 2023 9:44am Nov 25, 2023 9:44am
Quoting JourneyLife
{quote} Only works in a backtest.
Real trading and backtesting are different beasts! I know from experience.
  • #792,766
  • Nov 25, 2023 9:47am Nov 25, 2023 9:47am
Mkvy I don’t like your sarcasm. Obviously you have a low self opinion that you make fun of others
  • #792,767
  • Nov 25, 2023 9:57am Nov 25, 2023 9:57am
So envy you have time to do analysis.
I can't remember when last time I sat down to check my chart on desktop
Always on the go, busy, busy with day to day life and never ending...

Price was pushed higher on thin market.
GBP bond market getting attention, investment plans to flud UK business is a good thing, but lots on questions too.
Will dollar depreciate, ir iš this just a pause? Looking at GU chart at this speed 1.3 can be touched in no time. Time to switch, but I am not ready yet, still need 1.18 first
Would like US to step in next week.

Have a lovely weekend all.
Christmas in a few weeks, few more weeks of normal trading..
  • #792,768
  • Nov 25, 2023 9:58am Nov 25, 2023 9:58am
Quoting Wavegarrick
{quote} Navk. Unless you see something different I see a massive monthly bullish candle. Kindly post your assessment but to an extent I agree that we will probably have some sort of retracement towards my future weekly pivot at 1.25500. Cheers. {image}
hi leon, do you see 1.31xxx is a figures to revisit again in next year if looking the monthly structure?
and what is your max target if this changed to bullish again?

Thanks in advanced.
  • #792,769
  • Nov 25, 2023 10:06am Nov 25, 2023 10:06am
Quoting Wavegarrick
{quote} Navk. Unless you see something different I see a massive monthly bullish candle. Kindly post your assessment but to an extent I agree that we will probably have some sort of retracement towards my future weekly pivot at 1.25500. Cheers. {image}
The price is nearing that level where monthly bearish candle started as you see in the chart.

But, December can change.

Weekly is bullish
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Intraday only.
  • #792,770
  • Nov 25, 2023 10:15am Nov 25, 2023 10:15am
Quoting navk
{quote} The price is nearing that level where monthly bearish candle started as you see in the chart. But, December can change. Weekly is bullish {image}
Do you see any retracement down to 1.25 area
  • #792,771
  • Nov 25, 2023 10:23am Nov 25, 2023 10:23am
Quoting shakmoney
{quote} Do you see any retracement down to 1.25 area
NEXT WEEK SOMETIME
Intraday only.
  • #792,772
  • Nov 25, 2023 10:27am Nov 25, 2023 10:27am
  •  Oylux
  • | Joined Nov 2023 | Status: Natures Best. Nig 🇳🇬 | 66 Posts
Quoting Wavegarrick
{quote} Navk. Unless you see something different I see a massive monthly bullish candle. Kindly post your assessment but to an extent I agree that we will probably have some sort of retracement towards my future weekly pivot at 1.25500. Cheers. {image}
I was going to say that also the monthly candle looks bullish enough . Pls show what you see
  • #792,773
  • Nov 25, 2023 11:00am Nov 25, 2023 11:00am
Based on the COT this market may get to the 1.32 or potentially higher if stops are run.
  • #792,774
  • Nov 25, 2023 11:16am Nov 25, 2023 11:16am
gbpchf may off a excellent risk to reward if it breaks out of this tight sideways channel above 1.11
  • #792,775
  • Nov 25, 2023 11:40am Nov 25, 2023 11:40am
Another big day out for the bulls on Friday resulted in a bullish thrust < 13wk awr wkly candle close, alongside Friday's dly bullish thrust candle close. So far in November price has traveled 123% of the 6mth amr, and price has now retraced over 50% of the recent main 3142-2038 fall, with Mthly R3 @/around the wkly hi. 1hr to dly t/f's closed the week in general uptrends, with dly seeing 5 consecutive HL's now, and what will be a 3rd consec HH when it forms, on that t/f, (@ Friday's/the wkly hi or higher.)

SBR was encountered @ Fri's hi in a prev 1hr sw lo zone = prev supp = pot sbr, from 5th Sept last.

wkly then dly below.
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Trader with an Edge.
  • #792,776
  • Nov 25, 2023 12:12pm Nov 25, 2023 12:12pm
oh oh...i woke up and turned the computer on to read whats been said in the room and i see almost everybody is boolish which almost made me drop my coffee mug LOL


even shakmoney is back from selfimposed exile and he always shows up when price turns LOL

nice to see you back shak ...i missed your heckling and trolling me when i was bullish all of october LOL

ill have to analyse my charts again and maybe temper my bullishness with this new development that the whole room is looking for hier levels
i must have overlooked something since the crowd has finally joined my outlook so time to ditch the chumps and think bearish LOL

ill be back
short trump and go long the deepstate
  • #792,777
  • Edited 3:24pm Nov 25, 2023 3:08pm | Edited 3:24pm
Quoting Zebi
oh oh...i woke up and turned the computer on to read whats been said in the room and i see almost everybody is boolish which almost made me drop my coffee mug LOL even shakmoney is back from selfimposed exile and he always shows up when price turns LOL nice to see you back shak ...i missed your heckling and trolling me when i was bullish all of october LOL ill have to analyse my charts again and maybe temper my bullishness with this new development that the whole room is looking for hier levels i must have overlooked something since the...
Hi. Well the week ended bullishly re dly and wkly candle closes particularly, and the trend from say 30min to dly t/f is undeniably an uptrend. No surprise then that some may be holding open long positions over the w/e and that most here are bullish. Personally, like always, I closed the week flat and will assess at start of my trading session on Monday re my t/f's of interest, and hopefully act accordingly. Price may carry on up to higher levels, or it may pullback, (are two scenarios that may play out,) - it had started to off Friday's hi at the close. None of us know till it happens. Whatever I'm sure there will be some hi-prob trading opportunities, either way.

Retail stops probably under 2524, more under 2447, with institutional stops probably starting at under 2373 and more likely 2187, but more still under 2069 and 2038?
Trader with an Edge.
  • #792,778
  • Nov 25, 2023 3:30pm Nov 25, 2023 3:30pm
Quoting Wavegarrick
{quote} Navk. Unless you see something different I see a massive monthly bullish candle. Kindly post your assessment but to an extent I agree that we will probably have some sort of retracement towards my future weekly pivot at 1.25500. Cheers. {image}
I agree with NAVK that MN is bearish. The "massive monthly bullish candle" results from the W1 on a RALLY in the MN1/MN2 down swing. Of course the rally can go all the way to about 1.31 and remain a rally, but it is more likely that it won't go much higher than about 1.2750, and then make its return down. In fact, late Friday, m15 went down and then back up to a lower high. A second attempt at going down was followed by an equal high. And the third attempt down ended the day at a lower low. So if Friday's drop at the end of the day follows through, we already see the start of the return down.
To free Gazans of Hamas, use whatever it takes.
  • #792,779
  • Edited 6:17pm Nov 25, 2023 5:50pm | Edited 6:17pm
after a long and exhaustive marathon session of looking at all the charts on tradingview ive come to the conclusion ill short GU after tokyo opens sunday night mainly just because the majority of the room is boolish LOL

Quoting Zebi
{quote}[/color] ive seen this episode of gunsmoke so came back to computer ....just so people dont accuse me of making shit up like over the weekend heres charts from nov 6th and i started buying again on the 7th using futures charts for signals and sat in another range LOL till today .... whats happening now is 6 weeks of short covering...this isnt even buying by boolish people just short covering and i showed it all well in advance by charts analysis instead of some screenshots of demo propfirm profits since im in merica all i can use...
Quoting Zebi
{quote} earlier i said 1 and 5 min shorts will become chum and posted a video but i forgot about the best chum video of all in this movie LOL https://youtu.be/PpG3-hLJTwU i wouldnt average up my shorts on hier timeframes cause this is a launch from a 5 week base at support in GU weekly chart...theres this thing called the santa clause rally in america so there shudnt be any bad dollar news till janurary 1 2024 cause people want to paint the tape and get their fat christmas bonuses i feel foolish posting this chart of support with...
Quoting Zebi
good morning gentlemen this is one of my many posts tht makes me feel foolish since everyone in the room knows this my first chart shows a chart of what i was trading which made me endure weeks of heckling from a member in the peanut gallery whos quiet now for me being boolish the past month inspite and because of his 3 black crows i wrote text on the charts so wouldnt have to explain much in print right now since i cant type the 2nd chart shows last week candle closing above 6 previous weeks and into the black crows giving a another...
you can see in my 3rd quote the targets on the futures chart which the first one is almost hit
ive been bullish for a long time...all thru october and in november and ive been very happy for the most part...i had to sit thru drawdowns in october which while that didnt make me waver or change my mind about price rising listening to a bunch of knuckleheads and their shit heckling was putting a damper on my usually cheery disposition LOL

so when i entered the room today i see pretty much everyone boolish so i immediately started thinking shorting
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short trump and go long the deepstate
  • #792,780
  • Edited 6:39pm Nov 25, 2023 6:24pm | Edited 6:39pm
GU will prolly range and print a inside day one week or two before going back up till christmas so thats why im shorting for the pullback which may last for over a week or even two

i dont expect it too fall much below 2450 which is where ill start buying again but my overall boolishness ive tempered and i dont think GU will get to 3400 like the post i made friday mainly cause of todays news that FF reported


Quoting Zebi
opps...i forgot about the monthly youll all notice that the lower black line i drew on the weekly when i switch to the monthly is at the open on that september candle i mentioned LOL.... see how that works, levels match each other in different timeframes so a close above that black line or the open in 4 more trading days means a run up to 3400 to my red line according to my system {image}
short trump and go long the deepstate
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