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Cable Update (GBPUSD)

  • #839,601
  • Sep 26, 2024 5:43am Sep 26, 2024 5:43am
Quoting BeeTogether
{quote} mate I’m long been long since yesterday
good job bro.. im late to wake up this morning on asian session.. but its ok.. still on board.. lets dance bro..
subscribed
  • #839,602
  • Edited 6:14am Sep 26, 2024 5:47am | Edited 6:14am
Quoting fontu
{quote} Short activated at 3370 to see what happen ! Again exaggerated bounce as in bull market ! {image}
We should get lower than your first TP. I expect the monthly bull to pull back for more longs to join for a move to 1.4000.
  • #839,603
  • Sep 26, 2024 5:50am Sep 26, 2024 5:50am
Quoting Headland
{quote} Hi. None of us know what's gonna happen, and there is certainly regular bearish div in my 2 x oscillators at least to support holding short re that dly bearish engulf y/day? But why do you trust it,? what are your reasons,? Do you perhaps know for example that over a representative historical sample to date bearish engulfings on this t/f, on this trading instrument, in that position/context, have a > 50% chance of seeing a downside follow-thru, even after a p/back within the body of the candle? Thanks. Dly below {image}
I am with Mitiblotch on the Daily bearish engulfing. It is called experience of 35 years of trading. Can it fail?, sure, anything can happen... but the odds are greatly on the side of GU dropping hard in the next few days.
Observation is the path to discovery.
  • #839,604
  • Sep 26, 2024 5:52am Sep 26, 2024 5:52am
had short here..
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  • #839,605
  • Sep 26, 2024 5:53am Sep 26, 2024 5:53am
Quoting Alorente
{quote} I am with Mitiblotch on the Daily bearish engulfing. It is called experience of 35 years of trading. Can it fail?, sure, anything can happen... but the odds are greatly on the side of GU dropping hard in the next few days.
with the old saying what goes up must come down I agree. However not sure as to when the bulls will be exhausted
Insane in the Brain..
  • #839,606
  • Sep 26, 2024 5:54am Sep 26, 2024 5:54am
Quoting BeeTogether
{quote} mate I’m long been long since yesterday
What price is your tp for the day.
Keep the Lights on then you can catch the rise from the dark.
  • #839,607
  • Sep 26, 2024 5:55am Sep 26, 2024 5:55am
Quoting Alorente
{quote} I am with Mitibloch on the Daily bearish engulfing. It is called experience of 35 years of trading. Can it fail?, sure, anything can happen... but the odds are greatly on the side of GU dropping hard in the next few days.
Hi, and is your large multi-year historical evidence of bearish engulfings on this instrument, on that dly t/f, in that overall context, anecdotal/just what you have observed over 35years, or do you have empirical documented evidence that a 'hard drop' is by far the greater probability given that set-up/pattern, as you suggest?
Trader with an Edge.
  • #839,608
  • Sep 26, 2024 6:02am Sep 26, 2024 6:02am
Quoting Headland
{quote} Hi, and is your large multi-year historical evidence of bearish engulfings on this instrument, on that dly t/f, in that overall context, anecdotal/just what you have observed over 35years, or do you have empirical documented evidence that a 'hard drop' is by far the greater probability given that set-up/pattern, as you suggest?
No, I do not have empirical documented evidence. I donīt have it either for when I open the shower fawcet every morning, I expect water to come out.
Observation is the path to discovery.
  • #839,609
  • Sep 26, 2024 6:06am Sep 26, 2024 6:06am
Quoting meugampong
where are you man @Waveskierrob vs @Wavegarrick need some meme and your jokes pal.. .. sleepy.. zzzzzz
It is weekdays. They only fight on weekend.
With courage, patience, and discipline, success is a matter of time.
  • #839,610
  • Edited 6:19am Sep 26, 2024 6:07am | Edited 6:19am
Quoting Alorente
{quote} I am with Mitiblotch on the Daily bearish engulfing. It is called experience of 35 years of trading. Can it fail?, sure, anything can happen... but the odds are greatly on the side of GU dropping hard in the next few days.
A engulfing pattern that formed at daily candle is very misleading .. The True & only engulfing pattern that work one is formed @LO Open and it's only worked when before NY Market Open
  • #839,611
  • Sep 26, 2024 6:09am Sep 26, 2024 6:09am
Quoting Alorente
{quote} No, I do not have empirical documented evidence. I donīt have it either for when I open the shower fawcet every morning, I expect water to come out.
Lol. In the case of your shower, there are only 2 or 3 variables determining whether water will come out re your shower, - your water company, and your domestic equipment that is the vehicle for that water to come out (ie boiler, shower head, hose) In the case of the market there are many 000's if not ten of 000's of variables (market participants and the volumes they employ) that will determine whether that bearish engulf will result in a hard drop, and these change by the second. If you do not have empirical documented large-sample representative evidence, then your anecdotal evidence is far weaker, and as a result - far less reliable to base decisions on. Re your shower - you may even be suffering from confirmation bias. Ie because it always has, you expect that it always will (,!) and could be too re the market, ie the much greater probability you think exists for a drop, might not actually be.
Trader with an Edge.
  • #839,612
  • Sep 26, 2024 6:13am Sep 26, 2024 6:13am
Quoting BeeTogether
134-13450 potential good areas for a decent drop. However if the UK remains mildly hawkish whilst US dovish we could see the higher area from 2022

stop at 3434 seems normal..tp 3270?
  • #839,613
  • Sep 26, 2024 6:14am Sep 26, 2024 6:14am
There was a beautiful bullish move from last night for gbpusd eurusd and audusd hope everyone was able to participate currently in a buy gbpjpy for a quick 70 pips to continue my win streak
  • #839,614
  • Sep 26, 2024 6:16am Sep 26, 2024 6:16am
Quoting Headland
{quote} Lol. In the case of your shower, there are only 2 or 3 variables determining whether water will come out re your shower, - your water company, and your domestic equipment that is the vehicle for that water to come out (ie boiler, shower head, hose) In the case of the market there are many 000's if not ten of 000's of variables (market participants and the volumes they employ) that will determine whether that bearish engulf will result in a hard drop, and these change by the second. If you do not have empirical documented large-sample representative...
You are right in everything you say, but I believe the trade is solid based on many other factors aside from the engulfing candle. That was just the icing on the cake for me. If I am wrong, I take my loss and move on. No big deal...
Observation is the path to discovery.
  • #839,615
  • Sep 26, 2024 6:18am Sep 26, 2024 6:18am
Quoting DailyChart
{quote} The True & only engulfing pattern that work one is formed @LO Open
If not Daily what time frame?
Its all just one persons opinion
  • #839,616
  • Sep 26, 2024 6:21am Sep 26, 2024 6:21am
Quoting axecap
{quote} If not Daily what time frame?
After LO Open In 30M - 1H and if you can detect the trend well then you can make tons of money..that's not happens everyday or week...patient needed
  • #839,617
  • Sep 26, 2024 6:22am Sep 26, 2024 6:22am
hello traders , i have started selling position on gbp/usd for 65 pips dawn
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bakare
  • #839,618
  • Sep 26, 2024 6:24am Sep 26, 2024 6:24am
Quoting DailyChart
{quote} After LO Open In 30M - 1H and if you can detect the trend well then you can make tons of money..that's not happens everyday or week...patient needed
I was refering to your comment the only engulfing pattern that works is at LO .....so what time frame?
Its all just one persons opinion
  • #839,619
  • Sep 26, 2024 6:24am Sep 26, 2024 6:24am
[quote=DailyChart;15010770]{quote} Daily work but it's quite misleading as in one daily candle contained many market/session open different intention ... The strongest one Formed From LO Open In 30M - 1H and if you can detect the trend well then you can make tons of money..that's not happens everyday or week or even month ...patient truly needed]
  • #839,620
  • Sep 26, 2024 6:25am Sep 26, 2024 6:25am
Quoting axecap
{quote} I was refering to your comment the only engulfing pattern that works is at LO .....so what time frame?
Told you already
30M - 1H after LO Open
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Waveskierrob