GBPUSD - Looking to buy today

shogunfx

Sergeant
Messages
260
Hi Triantus, I have looked at your chart and I have to say I can't see the chart for lines. Sorry I don't see how anybody can make a trade with so many indicators, MA's and other stuff.

Only my opinion.
As long as it is a winning trade , don't matter.
Important is to take decisions based on your experience and don't relay on others.
This way you will learn how to trade and gain confidence in your strategy.
 

Joh

Sergeant Major
Messages
976
jarrat, i understand you use mostly fundamentals and that's fine. but if i may, i just would like to show my chart of g/u and how using only technicals, beginners could have played the sell-off today.

IMHO, i think it might be easier for beginners to use technicals rather than fundamentals. ok, maybe am wrong, but in my case, i can't trade any other way.

here's the chart with explanations on it: https://www.tradingview.com/x/Fv3JFz3U/
Thank you Triantus,

Your TDI looks most interesting i will look at that and if ok with you may get back to you with some questions - the s/l was at 16730 and i know traders that put their Buy there - your 16713 pivot has been broken 3x already the last few weeks (am in at 16699) - and we shall see which way it will go this time.
Fundamentally from the little i understand of it looks to me it may well go back up towards 168 so i will patiently wait and see.
 

Sheriffonline

Private
Messages
18
Very Good suggetions Jarratt. i wonder how you analysis before news release.

Your suggetions makes my trade even better when my technical trade fails, i really use your fundamental tips.

I really appreciated your service.

Soon i like to study your trade ideas.
Hey MiracleTrading,

I would be willing to hold GBPUSD positions as there is nothing fundamental stopping this pair from eventually getting back towards 1.7000 in the coming weeks- however if you're not comfortable with holding positions then you could take profits / cut losses before the day is over. Bear in mind there is nothing fundamental driving this pair lower at the moment so I will be confident to hold my long positions! :)

Hope that helps!

Jarratt
 
Last edited by a moderator:

Triantus Shango

Sergeant Major
Messages
1,372
well, first, i must say i rewrote the original TDI to get a smoother signal. but original TDI settings use 1.618 and not 2.0 for the standard deviation, and periods of 13 for then underlying RSI, 2 for price line, and 7 for signal line. however, i use 11 for PL and 17 for SL, but like i said i don't use SMA in the TDI computation. if you open an account (free) on tradingview.com, i will give you the code. i wrote it in TV's Pine language.

I am always willing to learn. How do you use the TDI and on what settings?
 

peeterwoolf

Corporal
Messages
229
jarrat, i understand you use mostly fundamentals and that's fine. but if i may, i just would like to show my chart of g/u and how using only technicals, beginners could have played the sell-off today.

IMHO, i think it might be easier for beginners to use technicals rather than fundamentals. ok, maybe am wrong, but in my case, i can't trade any other way.

here's the chart with explanations on it: https://www.tradingview.com/x/Fv3JFz3U/
That's very interesting chart, thanks for sharing.
 

Triantus Shango

Sergeant Major
Messages
1,372
sure, no problem.

as regards the WPS1 on my chart, that's this week's pivot, not last week's, so it hasn't been broken yet.here's a new chart with explanations: https://www.tradingview.com/x/pO45gYMq

on the chart i forgot to add when talking about possible retest short of WPP: it should read WPP or 200 SMA, whichever comes first and if those support levels break, then next target short can be the bold yellow line, which is the band's midline, also 100 SMA, and if bounce from there, then resumption long.

and forgot to mention 1 more thing ;): note how TDI PL stopped at its lower band and 50-midline from where it bounced up when price found support again as mentioned on chart. the trick is to correlate position of TDI as price approaches key levels.

now, this is not the whole picture by any means. on H4 we need to watch 200 SMA and 61.8% fib which come in at 6825 and 6830 respectively and coincide with ABCD fib projection 1.272 at 6833: so price now is just at beginning of K-area resistance (Joe DiNapoli terminology as explained by sive) and price could very well travel between 38.1% and 61.8% fib levels. since on higher TFs we are not at OB yet, i wouldn't be surprised if upper bound of K-are gets hit (also where H4 200 SMA is). maybe, maybe not. no one knows. ;)

the corollary to all this is that if K-area can't be broken and price can't gain a solid foothold above MPP, then it's gonna be down before it goes up. we'll see.

Thank you Triantus,

Your TDI looks most interesting i will look at that and if ok with you may get back to you with some questions - the s/l was at 16730 and i know traders that put their Buy there - your 16713 pivot has been broken 3x already the last few weeks (am in at 16699) - and we shall see which way it will go this time.
Fundamentally from the little i understand of it looks to me it may well go back up towards 168 so i will patiently wait and see.
 
Last edited:
Top