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Cable Update (GBPUSD)

  • #458,381
  • Mar 7, 2018 7:58pm Mar 7, 2018 7:58pm
ill try come back to this end of year , imo that year will be good red so the great falling tl will hold on the monthly /weekly

Quoting Bones
{image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #458,382
  • Mar 7, 2018 8:14pm Mar 7, 2018 8:14pm
to look distance you have to look higher otherwise complete guess , very common retail chit chat
only retail think tls are personal imo
https://www.forexfactory.com/showthr...98#post9463998
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #458,383
  • Mar 7, 2018 9:25pm Mar 7, 2018 9:25pm
This what I see on daily chart continuation to 1.396 ish then drop..
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  • #458,384
  • Mar 7, 2018 10:07pm Mar 7, 2018 10:07pm
I'd say purple range in play rest of this week.
I'll know more longer term next week I think
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Come with me if you want to live....
  • #458,385
  • Mar 7, 2018 10:14pm Mar 7, 2018 10:14pm
Quoting Sammih
{quote} Because there is way more pressure from the daily trendline. (Green line) {image}
Yes Sammih, know what you mean, but often as long as swing lows are not taken, its prior bias remain unchanged, until proven otherwise. Like the chart you used with the MA for daily yes it seems weighed down heavily but now 2.13PM Asia times it went back higher to 1.3900 region and staying sideways....
  • #458,386
  • Mar 7, 2018 10:22pm Mar 7, 2018 10:22pm
Inserted Video
  • #458,387
  • Mar 7, 2018 10:35pm Mar 7, 2018 10:35pm
Quoting Bones
there are other tl's personally I just have a go at majors ,if im not so sure or minor I dash them ,I think that's what you mean show me on a chart {quote} {image}
Yes Bones, that's what I meant, the swing structure especially on the lower timeframe tends to be more edgy, but it does provide some details. In the chart as long as the trend structure remains unchanged for the H1, it leans towards the bearish bias.
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  • #458,388
  • Mar 7, 2018 10:37pm Mar 7, 2018 10:37pm
I am bearish on GBPUSD. However, my focus at this point is the GBPAUD. It is interesting to note that the GBPAUD is technically structured for further bearish move. The current price action is in consolidation (bound by magenta lines) but the primary market structure is strongly to the downside. On the weekly time frame, two southward price waves have been completed, the first one had seen a correction (retracement) but the second price wave is now seeing its correction. The correction has reached the 38.2 Fib zone of the downward swing from the high of August 2015 to the low of October 2016.

Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #458,389
  • Mar 7, 2018 10:51pm Mar 7, 2018 10:51pm
Bones, but as you go into the higher timeframe the picture for trends and trendlines becomes clearer, although you can draw the line to show more clearly the trendline, sometimes it may steer slightly off, BUT the trendline need to be respected. Below H8 chart
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  • #458,390
  • Mar 7, 2018 11:00pm Mar 7, 2018 11:00pm
On h1..
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  • #458,391
  • Mar 7, 2018 11:38pm Mar 7, 2018 11:38pm
Quoting sat007
On h1.. {image}
Pivot 1.3887 supported bounced up from there
  • #458,392
  • Mar 7, 2018 11:41pm Mar 7, 2018 11:41pm
Quoting Trade-G
{quote} Pivot 1.3887 supported bounced up from there
Yes looks like it.. wait for second candle confirmation.
  • #458,393
  • Mar 7, 2018 11:52pm Mar 7, 2018 11:52pm
Quoting sat007
{quote} Yes looks like it.. wait for second candle confirmation.
Its an hourly bearish setup, but decided to test back the top, if top clear its a failed bearish setup which will go upwards instead
  • #458,394
  • Mar 8, 2018 12:01am Mar 8, 2018 12:01am
some s/r I'll keep an eye on today...for some clues..
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #458,395
  • Mar 8, 2018 12:52am Mar 8, 2018 12:52am
Quoting sat007
On h1.. {image}
Waiting for first target hit for today 1.386..lets see
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  • #458,396
  • Mar 8, 2018 1:11am Mar 8, 2018 1:11am
Quoting sat007
{quote} Waiting for first target hit for today 1.386..lets see {image}
Made an unforgiven mistake, I closed my short instead of my long, damn lol
  • #458,397
  • Mar 8, 2018 1:16am Mar 8, 2018 1:16am
When first push was rejected you warned..I thought lets give a little more time for second candle confirmation now you see its hit 1.386 ish...
  • #458,398
  • Mar 8, 2018 1:17am Mar 8, 2018 1:17am
Quoting Trade-G
{quote} Made an unforgiven mistake, I closed my short instead of my long, damn lol
When first push was rejected you warned..I thought lets give a little more time for second candle confirmation now you see its hit 1.386 ish...
  • #458,399
  • Mar 8, 2018 1:27am Mar 8, 2018 1:27am
Quoting Ill-b-back
I'd say purple range in play rest of this week. I'll know more longer term next week I think {image}
Nice, you trade patterns ?
  • #458,400
  • Mar 8, 2018 3:06am Mar 8, 2018 3:06am
looks like market waiting for ECB news
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