Cable Update (GBPUSD)

Quoting elude

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A candlestick that has no upper shadow is known as a shaven head candlestick, which indicates that bearish pressure is dominant in the market. On the other hand, a candlestick that has no lower shadow is referred to as a shaven bottom suggesting that buyers are in control.

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Quoting Pat Chiko

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{quote} Thanks for the chart Bro. Appreciate that. Overlook your post. My bad. Fridays are always hectic—trying to pick and choose whose turn it is to date me tonight. Been busy on the phone, sorting out the right schedule. Girls have to wait their turn.

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Quoting Forgediron

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{quote} Doesn’t it depend on whether the candle is bullish or bearish? A green shaved top candle is bullish, whereas a red shaved top is bearish.

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Quoting elude

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GBPUSD Bought 1.29209 / SL 1.28969 (24 PIPs; 0.801%) / TP Open

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Quoting MoneyPrinte

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{quote} It's all about probabilities—nothing's guaranteed The trade can be wrong, so risk must be keyed Stay patient, adapt, and follow the play For the market will move its own way {image}

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Quoting Zebi

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{quote} ...you shud really stop confusing people by claiming every big green candle is bullish and big red one is bearish, cause you always end up with egg all over your face...

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Quoting W0lfram

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t=5; open_high > 250. This month lacks one feature that others have, even Jan 2006. Will it be the first in history (not only in this set)? {image}

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Quoting Georginson

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{quote} January 2006 opened at 1.7210 and touched a low of 1.7186 being 24 pips drop... This current month only has 2 pips drop... At least 20+ pips drop is expected to be seen from the open.

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Quoting Guy1969

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The pullback on GU I expected on Friday did not happen, that suggests that the minor consolodation we saw on GU is in fact long position sizing by the market maker. With incoming CAD strength early next week, it will push USD lower, and GU higher. My GU target is 1.30500 - 600, before any signifant sell-off. I'll monitor USDCAD/GBPUSD correlation overnight on Sunday, and if higher than -80, will short USDCAD while going long GU. Enjoy the weekend.

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Quoting Forgediron

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{quote} Doesn’t it depend on whether the candle is bullish or bearish? A green shaved top candle is bullish, whereas a red shaved top is bearish.

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Quoting Bones

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{quote} Have you thoroughly thought through George noticing a 2006 example of a bearish outlook on that open?

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Quoting Bones

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I've looked at the example, and price NEVER went back, but what you have to do is see how many times it NEVER went back to an open like that, then tell us the times it did. Is there an 80% probability of going back past the open? as George stated? especially in the same candle. {image}

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Quoting Georginson

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{quote} January 2006 opened at 1.7210 and touched a low of 1.7186 being 24 pips drop... This current month only has 2 pips drop... At least 20+ pips drop is expected to be seen from the open.

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Quoting elude

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A candlestick that has no upper shadow is known as a shaven head candlestick, which indicates that bearish pressure is dominant in the market. On the other hand, a candlestick that has no lower shadow is referred to as a shaven bottom suggesting that buyers are in control.

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Quoting Forgediron

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{quote}
Doesn’t it depend on whether the candle is bullish or bearish? A green shaved top candle is bullish, whereas a red shaved top is bearish.

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Quoting elude

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{quote}
It's up to you to believe which.. I'm a non-believer

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