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Cable Update (GBPUSD)

  • #417,761
  • Jul 30, 2015 5:33am Jul 30, 2015 5:33am
the 'pattern' of the shallow pullback intraday today repeats...approaching offers reported to 5630.

best wishes.
it's all gone a bit........
  • #417,762
  • Jul 30, 2015 5:38am Jul 30, 2015 5:38am
Quoting mrfigure
{quote} Hello, may I ask why your using a fib retracement in a downward trend method, rather than an uptrend method, which is currently what gbp/usd is doing ?
I plot fibs on major moves (relative to the t/f, ie 'major swing points' on the respective t/f) between major fractal swing points on 1hr t/f and higher. So on that 1hr hart yes there are fibs plotted of a major swing lo'- hi in the general uptrend (more on my 4hr chart) but there is also a steep down move off yesterday's hi which shows up as a 'major' fractal swing hi - lo on 1hr which is the chart I posted and which your question is referring to I think ?

hope this answers the question

best wishes.
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it's all gone a bit........
  • #417,763
  • Jul 30, 2015 5:42am Jul 30, 2015 5:42am
Quoting Dano12
GBP USD good GDP from USA - SHS {image}
waiting
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  • #417,764
  • Jul 30, 2015 5:45am Jul 30, 2015 5:45am
Quoting petetong
daily pinbar candle print yesterday - the 5689 hi again in that former daily swing hi/lo zone that has acted first as res then sup then res again.......will there be follow thru south ? Price has found support again at the former 1hr/4hr swing lo zone leading to yesterday's low / 61.8% 5527-5689/50% 5489-5689. best wishes {image}
Hi Pete, maybe if i put it like this may be better.

This pair is currently in a daily uptrend which commenced 13th April this year where it then continued to make higher highs and higher lows.

Therefore with your H1 chart from the way you have applied your fib, what are you predicting / expecting and in which direction ?
  • #417,765
  • Edited 7:33am Jul 30, 2015 5:54am | Edited 7:33am
Quoting mrfigure
{quote} Hi Pete, maybe if i put it like this may be better. This pair is currently in a daily uptrend which commenced 13th April this year where it then continued to make higher highs and higher lows. Therefore with your H1 chart from the way you have applied your fib, what are you predicting / expecting and in which direction ?
I'm not predicting anything...I'm not expecting anything. I am simply plotting fibs between major fractal swing points on 1hr + so I can see where the most likely areas are that buyers or sellers may enter the market and a swing point form. Fibs are a part of this as are calculated/floor pivots to an even lesser extent but price swing points are the main part ie fractal price swings. I was taught to look for 'confluence' ie the coming together of possible support/resistance elements and as my edge is playing bounces at 1hr + sup/res (and momentum plays) this is what I do whilst timing entry on the most sensible sub 1hr t/f depending on what t/f the possible sup/res is plotted (ie no point trying to get a 1min entry if looking at daily t/f sup/res.) I have no idea what price will do next. I have no powers of prediction....I just play an edge. Also, trend is relative to t/f and I guess, how we all define a trend.

best wishes.
it's all gone a bit........
  • #417,766
  • Jul 30, 2015 6:02am Jul 30, 2015 6:02am
First targets at GDP and other US news time
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  • #417,767
  • Jul 30, 2015 6:09am Jul 30, 2015 6:09am
?
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  • #417,768
  • Jul 30, 2015 6:20am Jul 30, 2015 6:20am
they keep in place GBP USD - a declining EUR - there to do and carry trade pairs to finish formations EUR GBP - GBP JPY and GBP NZD GBP AUD
  • #417,769
  • Jul 30, 2015 7:13am Jul 30, 2015 7:13am
holding only 2 longs out of 7. it is entering into sell zone again, so careful here
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As Above, So Below
  • #417,770
  • Jul 30, 2015 7:32am Jul 30, 2015 7:32am
Quoting kingofmicro
dollar index h1 {image}
hit
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  • #417,771
  • Jul 30, 2015 7:43am Jul 30, 2015 7:43am
Quoting kingofmicro
{quote} hit {image}
washed out on my 5th trade sl toooo tight , could of left it open it is only 7 pips difference from my open ,lol should know better
  • #417,772
  • Jul 30, 2015 7:50am Jul 30, 2015 7:50am
Quoting petetong
the 'pattern' of the shallow pullback intraday today repeats...approaching offers reported to 5630. best wishes.
DAILY Candle Sign...
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Always looking the GREAT, never left GOOD Point...
  • #417,773
  • Jul 30, 2015 7:51am Jul 30, 2015 7:51am
Quoting Kajos2250
{quote} GU D1 GMT+2 booking some loss again. nice bearish pin bar on the wrong place, wrong time... failed bullish belthold, bearish engulfing, next is failed bearish pin stay on the long side until new MN1, but to the next daily close! bears at .5638 are waiting us! buy limit .5582, buy stop .5638. next level .5712, risk 1... Good Luck {image}
GU D1 GMT+2

buy stop triggered, and the bears woke up at.5638.
buy limit missed but stay there.
waiting for the daily close...

good luck!
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Anything is math!
  • #417,774
  • Jul 30, 2015 8:14am Jul 30, 2015 8:14am
Quoting Kajos2250
{quote} GU D1 GMT+2 buy stop triggered, and the bears woke up at.5638. buy limit missed but stay there. waiting for the daily close... good luck! {image}
Great trades Kajos, very good trader , regards E
  • #417,775
  • Jul 30, 2015 8:24am Jul 30, 2015 8:24am
Quoting elbert3
{quote} Great trades Kajos, very good trader , regards E
today EUR USD better to trading
  • #417,776
  • Jul 30, 2015 8:30am Jul 30, 2015 8:30am
Quoting Dano12
{quote} today EUR USD better to trading
might get a bit better now ??
  • #417,777
  • Jul 30, 2015 9:27am Jul 30, 2015 9:27am
Quoting elbert3
{quote} might get a bit better now ??
Maybe I'll at 1 h - SHS
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  • #417,778
  • Jul 30, 2015 9:29am Jul 30, 2015 9:29am
Quoting Dano12
{quote} Maybe I'll at 1 h - SHS {image}
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??
  • #417,779
  • Jul 30, 2015 9:34am Jul 30, 2015 9:34am
Quoting elbert3
{quote} Great trades Kajos, very good trader , regards E
thank you bro
best wishes!
Anything is math!
  • #417,780
  • Jul 30, 2015 9:44am Jul 30, 2015 9:44am
Quoting Dano12
{quote} today EUR USD better to trading
good!
it was cost a little much, but in profit
following bearish marubozu and failed bullish belthold.
i hope can close out of bullish belthold and then break the YPS2 ~0833...

Good Luck!
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Anything is math!
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