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Cable Update (GBPUSD)

  • #460,641
  • May 21, 2018 6:03am May 21, 2018 6:03am
Volume negitive atm, shorts should be wary above 1.3411 imo
All charts/ideas based on UK time zone
  • #460,642
  • May 21, 2018 6:32am May 21, 2018 6:32am
Quoting TheWealth
Bulls power is activated. I recommend to buy from now 1.3399 SL 1.3330 TP1 1.3475 TP2 1.3545
Your take (that bulls power being activated) seems spot on
  • #460,643
  • May 21, 2018 6:41am May 21, 2018 6:41am
4hr pattern retest into mentioned support turned resistance
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 29 KB
Click to Enlarge Name: GBPUSDH41.png Size: 24 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 30 KB
Come with me if you want to live....
  • #460,644
  • May 21, 2018 6:46am May 21, 2018 6:46am
long the false breakout.
  • #460,645
  • May 21, 2018 6:48am May 21, 2018 6:48am
1.3406 long with 1.3397 stop.
Intraday only.
  • #460,646
  • May 21, 2018 6:55am May 21, 2018 6:55am
Quoting Hairi
long the false breakout.
Why do you think the breakout is false?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 28 KB
Come with me if you want to live....
  • #460,647
  • May 21, 2018 6:59am May 21, 2018 6:59am
Quoting navk
1.3406 long with 1.3397 stop.
Target 1.3500. ( or 1.3485 range )

will decide based on PA that time.

I got a hit today - 30 already.
Intraday only.
  • #460,648
  • May 21, 2018 7:43am May 21, 2018 7:43am
Quoting Ill-b-back
{quote} Why do you think the breakout is false? {image}
daily consolidation structure is hold between 1.35-1.36.
In order for big player to long this structure, they maybe looking to buy at cheaper price. (and seller liquidity below 1.35, will provide them the option to do so)
I maybe wrong...
Attached Image (click to enlarge)
Click to Enlarge Name: gudaily2.PNG Size: 117 KB
  • #460,649
  • May 21, 2018 8:09am May 21, 2018 8:09am
Quoting Hairi
{quote} daily consolidation structure is hold between 1.35-1.36. In order for big player to long this structure, they maybe looking to buy at cheaper price. (and seller liquidity below 1.35, will provide them the option to do so) I maybe wrong... {image}
Nice post!

At the moment, I'd predict a turnaround at around 1.33.
  • #460,650
  • May 21, 2018 8:35am May 21, 2018 8:35am
Quoting TheWealth
Bulls power is activated. I recommend to buy from now 1.3399 SL 1.3330 TP1 1.3475 TP2 1.3545
Please read the following article. https://www.fxcm.news/2018/05/21/gbp...h-yearly-lows/
  • #460,651
  • May 21, 2018 8:42am May 21, 2018 8:42am
Quoting TheWealth
{quote} Please read the following article. https://www.fxcm.news/2018/05/21/gbp...h-yearly-lows/
Remember FXCM is not your friend and their company actively trades against us retailers. So take their recommendations cautiously
  • #460,652
  • May 21, 2018 8:49am May 21, 2018 8:49am
Quoting el_duende
{quote} Remember FXCM is not your friend and their company actively trades against us retailers. So take their recommendations cautiously
This is news man, a reference only and a one supported reason only bro. The stop loss is still at 1.3330.
I do not trade based only on news, my analysis is mainly technical. Most reputed FX companies do not work against traders as you think. I trade since 10 years ago. I will not reply again to any comments like that again. JUst do or do not do. So simple.
  • #460,653
  • May 21, 2018 8:49am May 21, 2018 8:49am
Quoting el_duende
{quote} Remember FXCM is not your friend and their company actively trades against us retailers. So take their recommendations cautiously
Valid point.

FXCM are being 'helpfully unhelpful' with this post, neither committing to a long or short bias, but giving you information to make up your own mind (which is fair), but nonetheless enticing you to take a position.

Trade your plan, only.
  • #460,654
  • May 21, 2018 9:08am May 21, 2018 9:08am
Quoting Luzbay
{quote} Valid point. FXCM are being 'helpfully unhelpful' with this post, neither committing to a long or short bias, but giving you information to make up your own mind (which is fair), but nonetheless enticing you to take a position. Trade your plan, only.
The source of the news was not fxcm, it is fxstreet
  • #460,655
  • May 21, 2018 9:18am May 21, 2018 9:18am
Quoting TheWealth
{quote} The source of the news was not fxcm, it is fxstreet
Same difference, FXCM are using it for their own purposes (enticing their clients to trade).
  • #460,656
  • May 21, 2018 9:26am May 21, 2018 9:26am
bounce above 1.3400 is only temporarily likely to drop to 1.3306
Bagus
  • #460,657
  • May 21, 2018 9:40am May 21, 2018 9:40am
Quoting TheWealth
{quote} This is news man, a reference only and a one supported reason only bro. The stop loss is still at 1.3330. I do not trade based only on news, my analysis is mainly technical. Most reputed FX companies do not work against traders as you think. I trade since 10 years ago. I will not reply again to any comments like that again. JUst do or do not do. So simple.
No need to get defensive i'm not commenting on your long trade (I agreed with it).

My comment was just about the conflict of interest companies like FXCM have when they post news articles and why we should be wary and cautious.

How do you think companies like FXCM make their money if they don't actively trade against retailers? Spread alone isn't enough.
  • #460,658
  • May 21, 2018 9:59am May 21, 2018 9:59am
Quoting el_duende
{quote} No need to get defensive i'm not commenting on your long trade (I agreed with it). My comment was just about the conflict of interest companies like FXCM have when they post news articles and why we should be wary and cautious. How do you think companies like FXCM make their money if they don't actively trade against retailers? Spread alone isn't enough.
Ok; however, most of them get their money from traders' accounts because most of traders blew their accounts on both cases.
  • #460,659
  • May 21, 2018 10:00am May 21, 2018 10:00am
Quoting sponge
Volume negitive atm, shorts should be wary above 1.3411 imo
short opportunity below 3411 low risk atm
All charts/ideas based on UK time zone
  • #460,660
  • May 21, 2018 10:08am May 21, 2018 10:08am
Quoting sponge
{quote} short opportunity below 3411 low risk atm
How have you defined that it's a low risk period, out of interest?

Cheers!
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