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Cable Update (GBPUSD)

  • #856,321
  • Mar 8, 2025 11:24pm Mar 8, 2025 11:24pm
Quoting Mitiblotch
Surprisingly EU has had higher ADR yesterday and today so far. I'm not a fan of buying highs or selling lows. This rise might mean that people know that the Russo-Ukraine war is certain to end. I also keep hearing of a possible dollar crash or dump. I will stay away. If I buy I'm certain it will drop 200 pips. If I sell I'm also certain it will rise another 200. Stay away I will
I'd say the counter investors will look to suck the USA dry of as many resources as they can long before the USD crashes entirely. They'd need to get all their earnings outta country before the riots and looting or whatever start. It may also explain why when you read through the current beige book, you see that costings are conflated with consumables. Consumerism and advertising at its best. When you look at the current GBPUSD derivitive sqaured chart you see its intraday double high with a scoop then a new high, compared with its underlying asset space from a large investment bank like JPMC.

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It's when traders take derivitives and squared ones seriously.
  • #856,322
  • Mar 8, 2025 11:31pm Mar 8, 2025 11:31pm
Quoting Forgediron
{quote} each situation is unique. Using the past to calculate probabilities assumes the same or similar context.

but if you're trading derivitives then THAT is all you can do. you don't have enough information to assert any real changes just to speculate and then see if you're riht
  • #856,323
  • Mar 8, 2025 11:45pm Mar 8, 2025 11:45pm
Quoting elude
{quote} {quote} {quote} Sorry for my confusing short comment. I was in a hurry. {image} https://trendspider.com/learning-cen...traders-guide/ Hi Forgediron, it's about a green candle with no lower wick and a red candle with no upper wick. In trading decisions, it's up to us to decide whether or not to follow that idea.
elude thankyou for sharing this information. i think i missed the memo that they changed the names of everything AGAIN !! cheers
  • #856,324
  • Mar 9, 2025 12:14am Mar 9, 2025 12:14am
Quoting Forgediron
{quote} My march monthly candle has a 22 pip drop from the open. {image}
weird
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  • #856,325
  • Mar 9, 2025 12:23am Mar 9, 2025 12:23am
Quoting Georginson
{quote} weird
This is the opening 5 m chart begin march. Price went down to ~ 1.2560 .This could also be due to a large spread.
- better clear new image uploaded
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  • #856,326
  • Mar 9, 2025 12:26am Mar 9, 2025 12:26am
Quoting elude
{quote} {quote} {quote} Sorry for my confusing short comment. I was in a hurry. {image} https://trendspider.com/learning-cen...traders-guide/ Hi Forgediron, it's about a green candle with no lower wick and a red candle with no upper wick. In trading decisions, it's up to us to decide whether or not to follow that idea.
I looked at the same website earlier also.
It's strange, because the visual examples they provide, don't reflect what the text is saying.
In the visual, They have put the shaved top on a bearish candle and described it as having "strong bullish momentum" and put the shaved bottom on a bullish candle and described it as having "strong bearish momentum".

In my mind, It would have made more sense to put the shaved bottom on the red bearish candle to signify the "strong bearish momentum" and the shaved top on the green bullish candle to signify the "strong bullish momentum".
Leave Israel alone and Palestine will be free
  • #856,327
  • Mar 9, 2025 7:19am Mar 9, 2025 7:19am
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  • #856,328
  • Mar 9, 2025 10:19am Mar 9, 2025 10:19am
My opinion is simple. After that huge green candle surged high like that, it indicates a maximal push (buy max), and usually, it will flip. I don't know how far the flip will be, or it might rise as far as it can before flipping; however, if the buy max isn’t too large, relatively small, it can occur repeatedly.
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  • #856,329
  • Edited 2:55pm Mar 9, 2025 12:23pm | Edited 2:55pm
There is no end to which shaven goes; it can mean both continuation and reversal.
The market condition is essential, and this chart is stuck in range,
which does give more chance of failure; however, the trend is up just by looking at the last three candles.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #856,330
  • Edited 3:11pm Mar 9, 2025 12:32pm | Edited 3:11pm
So, I would still say the chances of an outright reversal are very slim.
Using a bones probability calculator (as real as a zebi live account) it's an
8% chance of outright failure, going past the monthly open this week.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #856,331
  • Mar 9, 2025 12:41pm Mar 9, 2025 12:41pm
I'll be long GBPCAD, price found trend line support, followed by a breakout. I manually calculate the pivot points based on the projected range. Tartget 1.87000
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  • #856,332
  • Mar 9, 2025 1:04pm Mar 9, 2025 1:04pm
With GU the current level monthly R pivot level is tapped out. I feel it will drop just for a bit(I hope since I took a gamble trade) and then continue to climb higher to monthly R2 at which point I will look for more confident sell positions.

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Fresh levels are the best such as EURAUD below where there is exhaustion at the monthly target level for the first time in the month and now perception changes bearish. I would take no more than 2 exhaustion hits per monthly pivot confidently. Anymore than 2 hits to me is just a gamble trade

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  • #856,333
  • Mar 9, 2025 1:10pm Mar 9, 2025 1:10pm
GBPNZD, price is trapped, I expect chop, before the breakout. My first target short 2.24750
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  • #856,334
  • Mar 9, 2025 2:06pm Mar 9, 2025 2:06pm
Gold, I expect the high to be tested, followed by a drop below the H4 SMA200.
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  • #856,335
  • Edited 3:16pm Mar 9, 2025 2:48pm | Edited 3:16pm
Quoting Wavegarrick
{quote} GbpUsd: Dollar Cost averaging (DCA). Always been my strategy. Buy trade at 1.22271 with recommended stop losses below 1.22000. I trade small margin, so s/losses are different in my case if anything mental. Trade safe. {image}
Buy trade at 1.22271 going great at 700 pips profit. I could trade short scalps from this level with a target towards 1.28113 and 1.28000 for an overshoot.
Have a great week.
Cheers.
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Trade to trade another day
  • #856,336
  • Mar 9, 2025 2:53pm Mar 9, 2025 2:53pm
Quoting T721
{image}
UPDATE
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  • #856,337
  • Mar 9, 2025 3:06pm Mar 9, 2025 3:06pm
The GBPUSD price action on the daily time frame went sideways at the 1.29160 horizontal resistance area after a bullish retest. The technical impulse favours further northward move.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #856,338
  • Mar 9, 2025 3:07pm Mar 9, 2025 3:07pm
Quoting Zebi
shorted 2915 so my average is 2899 will close if price isn't lower by end of day
before market opens I just wanted to say I changed my mind and still holding my shorts...

ill prolly add one more short and just sit on it since I ended up with 3 lots last time that's why i lost so much...typically i keep adding till I'm at 2 lots total position..so far I'm at 1 lot from these two shorts since i doubled size to reclaim my losses quickly
short trump and go long the deepstate
  • #856,339
  • Mar 9, 2025 3:43pm Mar 9, 2025 3:43pm
Quoting Wavegarrick
{quote} Buy trade at 1.22271 going great at 700 pips profit. I could trade short scalps from this level with a target towards 1.28113 and 1.28000 for an overshoot. Have a great week. Cheers. {image}
I have already shorted it. On Friday. But I doubt I will wait untill 1,2800. I guess I will close it earlier, although your target is attractive.
  • #856,340
  • Mar 9, 2025 4:01pm Mar 9, 2025 4:01pm
Quoting bigiivan
{quote} I have already shorted it. On Friday. But I doubt I will wait untill 1,2800. I guess I will close it earlier, although your target is attractive.
Hi Bigive. Nice to see you again Bud. There will be a retrace for sure. I do remain bullish overall, and I guess ever retrace can be seen as a buy opportunity.
Cheers.
Trade to trade another day
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