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Cable Update (GBPUSD)

  • #854,921
  • Feb 21, 2025 10:55pm Feb 21, 2025 10:55pm
Quoting Pat Chiko
{quote} KNOW your enemy The Market Maker {image} What they do & say to you after taking your SL {image}

And don't forget,he can see your positions
  • #854,922
  • Feb 21, 2025 10:58pm Feb 21, 2025 10:58pm
Quoting RoelsMajor
{quote} {quote} Some luck at the end of the day. Trailing SL hit. Narrow Range only 54 pips overall. Lel Explanation here: https://www.forexfactory.com/thread/...9#post15158999 {image}
Nice job buddy. I love those ranges you talk about. I look for them in the 1H period candle but on the 5 minute chart. After an exhaustive move I wait for the hour candle to show a bit of range which then makes the pivots of the next period smaller and more narrow which indicates to me that the volatility and momentum has waned and I can now look for entry. Range is always a nice period for the market to slow down and pause to make a decision on the direction of price. It is in this period that their perceptions are likely cementing. Great stuff buddy
  • #854,923
  • Feb 22, 2025 2:26am Feb 22, 2025 2:26am
Quoting Waveskierrob
Well that's me done for the week closed all my negative trades start a fresh Monday.... {image}
Same again this week, closed all trades before weekend, feeling good about myself...
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  • #854,924
  • Feb 22, 2025 3:00am Feb 22, 2025 3:00am
Quoting OnlineAddict
{quote} Its a buy for possibly 1000 pips. There will be no more major drop, 1.23xx is THE buy.
300 done, 700 more pips to go.
Everyone can see the chart, but only a few can actually read it.
  • #854,925
  • Feb 22, 2025 4:17am Feb 22, 2025 4:17am
Forgive me, but a little bit out of topic. Based on your years/months of experience reading this thread, which user here had consistently and accurately predict great support and resistance? Rank 1 to 3 or 5, if you will
  • #854,926
  • Edited 6:06am Feb 22, 2025 5:49am | Edited 6:06am
Quoting sharingan9
{quote} Nice job buddy. I love those ranges you talk about. I look for them in the 1H period candle but on the 5 minute chart. After an exhaustive move I wait for the hour candle to show a bit of range which then makes the pivots of the next period smaller and more narrow which indicates to me that the volatility and momentum has waned and I can now look for entry. Range is always a nice period for the market to slow down and pause to make a decision on the direction of price. It is in this period that their perceptions are likely cementing. Great...
As intraday traders or scalpers, we don't need more than one time frame, or let's say two, because we are only chasing short-term noise. Often, indicators like trends in any time frame are always late in providing turning points. So, the "imaginary" lines of price boundaries and range/session limits/SR, help in making decisions faster, especially for identifying top and bottom areas. Additionally, I find great assistance from simple volume indicators (colour PVA) and the PVSRA template.

For next week, it is highly likely to go up, so just monitor it until the London Open. Entering during IB or the Asian session is possible, but it is harder to predict since the line indicators have not yet formed.
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fooled by randomness in art
Meditation All Time Return: 8.9%
  • #854,927
  • Edited Feb 23, 2025 5:22am Feb 22, 2025 6:04am | Edited Feb 23, 2025 5:22am
W/e analysis

Summary:
The small (< 13wk awr) pip range week just closed, - characterized by small (< 30day adr) pip range days saw the bulls make upside progress overall. This said upside progress results in the mthy candle so far, (with 5 more trading days to go till mth end and it's close,) looking bullish, with 87% of 6mth amr traveled. Price closes the week out above the Wkly and Mthly Pivots, but below the Yrly Pivot which is @/around 2749. The 4th upside 4Hr b/o of the previous wk's 2630 hi proved truer, but the downside pullback from the 2678 wkly hi is challenging the previous wk's said hi @ the wk's close. It's a similar end to the week as last week, ie Friday saw the wkly hi, and there was a downside pullback off it. The wkly and current mthly hi is the current yrly hi also. Price remains above last mth's 2575 hi.

Specifically:
* Wkly The < 13wk awr (48%) wkly candle closes bullishly but with a longer upper wick than the lower wick. It was an eventual upside follow-thru on the previous wk's bullish thrust (ish) candle on the t/f. the t/f is probably still in a general downtrend but with recent signs of strength, ie the HL @ 2249 and what will be a H @ this wk's hi or higher,( when it prints fractally,) above the last LH @ 2607 on the t/f. Barring a gap down, Price will open the new week above the new Wkly Pivot, which will be @/around 2624.
* Dly Friday's < 30day adr (51%) dly candle closed bearishly within the body of the previous candle's (Thursday's) bullish thrust candle. Price closed close to the candle lo. The t/f is in a general uptrend. There will be a HH printed on this t/f @ Fri's 2678 hi or higher, when it forms fractally.
* 4Hr This t/f closes the week in a general uptrend. Its last (gmt+2hr price feed) candle close was bearish.

Wkly, Dly, and 4Hr (with 10/20/40 ema crosses graphic,) below

Edit: corrected where new Wkly Pivot will be.
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Trader with an Edge.
  • #854,928
  • Edited Feb 23, 2025 1:52am Feb 22, 2025 7:21am | Edited Feb 23, 2025 1:52am
preparing to this week plan , so can act when applicable ! checking old charts

gbpjpy : retest first confirmation and hold 188.07 , better 187 for target final conformation 181.50/180.82,

audusd: at it one last leg down , attempted bounce , tried strong bounce mode but repeatedly failed, and presently bear continued and pullback testing , so not in bull mode , more bear likely as wave b before last leg up , should not as in now bounce too early.will watch pullback to bear back weekly .
eurusd : weekly at it last leg down , reversal attempt repeatedly failed , correct down more than audusd relatively , now trying bounce for a pullback , anyway still down or bottom formation sideways !

brent: weekly down 70 to 85 range and finally great pullback to 42. so bearish after bounce failure repeatedly.

last come our gbpusd : weekly pullback running , correction bear not near enough yet after huge rejection reversal attempts before . anyway to reorganize bull may need further correction down.
so pullback gbpjpy early , now audusd and late reaction for gbpusd apparently !!
anyway we are not playing with weekly tf s et ups , more needed asw per daily and lower tf too before market open !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #854,929
  • Feb 22, 2025 7:32am Feb 22, 2025 7:32am
Quoting mangekyou
Forgive me, but a little bit out of topic. Based on your years/months of experience reading this thread, which user here had consistently and accurately predict great support and resistance? Rank 1 to 3 or 5, if you will
interesting post, who you asking...
  • #854,930
  • Feb 22, 2025 8:08am Feb 22, 2025 8:08am
Quoting Waveskierrob
{quote} interesting post, who you asking...
For everyone who frequents this thread, you being one of them
  • #854,931
  • Edited 7:58pm Feb 22, 2025 2:53pm | Edited 7:58pm
Quoting RoelsMajor
{quote} As intraday traders or scalpers, we don't need more than one time frame, or let's say two, because we are only chasing short-term noise. Often, indicators like trends in any time frame are always late in providing turning points. So, the "imaginary" lines of price boundaries and range/session limits/SR, help in making decisions faster, especially for identifying top and bottom areas. Additionally, I find great assistance from simple volume indicators (colour PVA) and the PVSRA template. For next week, it is highly likely to go up, so just...
Good analysis. I trade countertrend and mainly focus on exhaustion at a confluence of targets being met and then trading turning points when value is being found at below average prices in that hour candle. I'm short now since 266558 to 26663. I entered from 2 setups on GU this past week and it is the same setup I use for all my entries

Setups zoomed out:
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First setup(Feb 17) zoomed in:

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Second setup(Feb 20) zoomed in:

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If price keeps going down my profits will increase and if it moves to make higher highs I will take profit on current shorts and look for new shorts at higher monthly R pivot targets with this same setup until I get a huge trend reversal.
  • #854,932
  • Feb 23, 2025 2:04am Feb 23, 2025 2:04am
checking in lower tf pa , top range to finish before probably correction down . so sideways may at start of the weekly ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #854,933
  • Feb 23, 2025 2:57am Feb 23, 2025 2:57am
Quoting fontu
checking in lower tf pa , top range to finish before probably correction down . so sideways may at start of the weekly ! take care {image}
What are your methods if you dont mind me asking?
  • #854,934
  • Feb 23, 2025 3:02am Feb 23, 2025 3:02am
Last week I had absolutely no eye deer where the markets were going, I was right...
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  • #854,935
  • Feb 23, 2025 3:10am Feb 23, 2025 3:10am
Quoting sharingan9
{quote} Good analysis. I trade countertrend and mainly focus on exhaustion at a confluence of targets being met and then trading turning points when value is being found at below average prices in that hour candle. I'm short now since 266558 to 26663. I entered from 2 setups on GU this past week and it is the same setup I use for all my entries Setups zoomed out: {image} First setup(Feb 17) zoomed in: {image} Second setup(Feb 20) zoomed in: {image} If price keeps going down my profits will increase and if it moves to make higher highs I will take...
Complete analysis. The price might drop; I might wait until the London Open. Meanwhile, check the post here— https://www.forexfactory.com/thread/...7#post15159407 there’s a daily range indicator I’ve adjusted, and fortunately, it’s working well for now. Match setting.

Quoting fontu
checking in lower tf pa , top range to finish before probably correction down . so sideways may at start of the weekly ! take care {image}
Might wait until the London Open.
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #854,936
  • Feb 23, 2025 5:51am Feb 23, 2025 5:51am
The following are what I consider to be the unequivocal truths about Support & Resistance. The technical phenomenon of Support & Resistance can provide an entry and/or exit point for a new trade, and/or can tell us where the PPA's (Potential Problem Areas) for an open trade may exist.

The 9 Fundamental truths about Support & Resistance.

1. Support & Resistance effectively refers to an imbalance of supply over demand -or- demand over supply sufficient that the market turns @ that point (a swing point) and the imbalance continues for howsoever long.

2. Such an imbalance as described in 1. above, that creates a fractal swing point re price, shows itself first on the lowest t/f, and if the imbalance continues for howsoever long, the swing point develops on, and extends up through the t/f’s. The more t/f’s the swing point comes to exist upon, the more significant it may be. The stronger the move away from the swing point can also signify that it is potentially significant, if tested again by price. Time also plays a part in this determination.

3. Potential (the distinction is important) Support or Resistance can be identified by any number of technical factors. Arguably the most important of these are the previous fractal swing points of price, (to the left of the prevailing current price.)

4. These fractal swing points are most important on the t/f’s that those that move price operate on, which means the 1hr and upwards.

5. There is no guarantee that an area/zone that has seen a fractal swing point on howsoever many t/f’s in the past will see that again if challenged by price. Ie price may break straight through it, as opposed to bounce away from it.

6. The confluence of technical factors known to identify potential support/resistance, and the confluence of t/f’s that a fractal swing point exists upon, can both be important in determining @ what price level (s) support and resistance may most likely be.

7. The way price arrives @ a potential support or resistance area/zone can be important in determining whether there is a greater chance of a bounce away from it, or a break through it. Similarly price’s relationship to it’s average ranges across whatsoever period, (starting with the Dly t/f,) can also be important in this respect.

8. The more times a zone/area of potential support or resistance is tested by price, the potentially weaker it becomes on any subsequent retest (s.)

9. Just because we may have potential Support & Resistance factors mapped out on our charts does not mean that it does not exist at other price levels.
Trader with an Edge.
  • #854,937
  • Feb 23, 2025 6:31am Feb 23, 2025 6:31am
My H4 chart, currently. I included the ABC correction as I originally had it, let's see what the market holds this week.
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  • #854,938
  • Feb 23, 2025 9:05am Feb 23, 2025 9:05am
GBP/USD ... interested to get shorts on Monday

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  • #854,939
  • Feb 23, 2025 10:11am Feb 23, 2025 10:11am
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"The Rich Never Pay Retail"
  • #854,940
  • Feb 23, 2025 10:17am Feb 23, 2025 10:17am
Quoting teprewitt23
{image}

tep...please stop deleting your posts

that crossing the river with the other wildebeasts is the funniest thing I've read on FF and am still laughing about it but you went and deleted it

I'm gonna appropriate that and use it in the other chat sites I frequent next time I go opposite the majority
short trump and go long the deepstate
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