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  • GBPUSD holds inside Ichimoku cloud after bullish cross within SMAs

    From xm.com

    GBPUSD holds inside Ichimoku cloud after bullish cross within SMAsGBPUSD advanced above the falling trend line, that had been holding since June 10, and entered the Ichimoku cloud. Currently, the RSI is flattening above its 50 neutral level, while the MACD is moving sideways above its zero and trigger lines, pointing to a neutral-to-positive short-term trading. Meanwhile, the 20- and 40-period simple moving averages (SMAs) have completed a bullish cross, indicating a positive structure in the short-term timeframe. Should buyers drive above the 38.2% Fibonacci of the downward move from 1.2815 to 1.2250, at 1.2465, ... (full story)

  • #1
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  • Jul 3, 2020 10:05am Jul 3, 2020 10:05am
  •  Trader#DCF4
  • | Status: Unregistered Trader
LOL....to be bullish it need to close above 1.2812 - ~400 pips north away?????? Wow
  • #2
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  • Jul 3, 2020 10:10am Jul 3, 2020 10:10am
The amount of lines and things in this chart hurts my eyes. lol
  • #3
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  • Jul 3, 2020 12:04pm Jul 3, 2020 12:04pm
I actually placed a sell order, thinking price was going to fall down after reaching dat hot resistance point. price actually went my way with about 18pips at first. And then retraced back and hits my stop loss.. would have locked in profit.. just wanted more. Lol..
  • #4
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  • Jul 4, 2020 7:06pm Jul 4, 2020 7:06pm
I probably knew what an Ichimoku cloud was at some point.
It's a good rule of thumb that when you have so many indicators you can't really see where price is heading, you've taken it too far. I think that was my mother telling me this, and she would definately call GBP south at this point.
  • #5
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  • Jul 4, 2020 11:10pm Jul 4, 2020 11:10pm
no excuse, GBPUSD, Up.
  • #6
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  • Jul 5, 2020 6:45am Jul 5, 2020 6:45am
its coming down. cover affect both countries
  • #7
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  • Jul 5, 2020 6:49am Jul 5, 2020 6:49am
referring to any EU-UK negotiations outcome GBP might go north IMHO. After all we are somehow near 40 year`s low!
  • #8
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  • Jul 5, 2020 4:12pm Jul 5, 2020 4:12pm
it rejected at the same previous HH area (1.2530) i believe it will continue with it's downtrend... we might also see a breakout... who knows?
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  •  Trader#1E9F
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  • Posted: Jul 3, 2020 7:31am
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 8  /  Views: 6,989