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Cable Update (GBPUSD)

  • #497,741
  • Edited Oct 14, 2019 2:25am Oct 13, 2019 7:26pm | Edited Oct 14, 2019 2:25am
Expecting price to reach 1.13
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  • #497,742
  • Oct 13, 2019 8:54pm Oct 13, 2019 8:54pm
Road to 1.20-
  • #497,743
  • Oct 13, 2019 9:26pm Oct 13, 2019 9:26pm
Quoting RobyTurboSS
Road to 1.20-
1.2450 is key ..... in ALL trends price will retrace and test for buyers or sellers depending on direction of trend ...

do jot forget there are two sides to gbpusd equation and right now feds are cutting rates like mad

if the news over the weekend was really bad how comes gbpusd is ONLY some 80 pips off its Friday close ?

Cutrent trend 4 hour is still up

60/30 is curling Down

lets see what the real volume of london brings
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  • #497,744
  • Oct 13, 2019 9:46pm Oct 13, 2019 9:46pm
Quoting malcolmb14
{quote} 1.2450 is key ..... in ALL trends price will retrace and test for buyers or sellers depending on direction of trend ... do jot forget there are two sides to gbpusd equation and right now feds are cutting rates like mad if the news over the weekend was really bad how comes gbpusd is ONLY some 80 pips off its Friday close ? Cutrent trend 4 hour is still up 60/30 is curling Down lets see what the real volume of london brings
4hr just turned down for me as per my system. If daily turns down, then sure 100 to 150 pis.
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Intraday only.
  • #497,745
  • Oct 13, 2019 9:47pm Oct 13, 2019 9:47pm
Quoting malcolmb14
{quote} 1.2450 is key ..... in ALL trends price will retrace and test for buyers or sellers depending on direction of trend ... do jot forget there are two sides to gbpusd equation and right now feds are cutting rates like mad if the news over the weekend was really bad how comes gbpusd is ONLY some 80 pips off its Friday close ? Cutrent trend 4 hour is still up 60/30 is curling Down lets see what the real volume of london brings
Agreed, my fibo show the same thing
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  • #497,746
  • Oct 13, 2019 9:51pm Oct 13, 2019 9:51pm
Quoting navk
{quote} 4hr just turned down for me as per my system. If daily turns down, then sure 100 to 150 pis. {image}

An insitutional trade told me once that algos use 14 sma

the price is still up on the 4 hour

the algo are designed to kiss the 14 sma on retraces

thats why i am I am interested in the 2450 area ..

anyway i am a day trader trading intraday trends and using compounding . If you make 5 to 10 percent on account per day by taking nice pullbacks in trends you can turns $3 k in to close to $640 k in 100 trades ....

the charg below shows several nice retrace entries off the 14 Sma with a trend
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  • #497,747
  • Oct 13, 2019 9:54pm Oct 13, 2019 9:54pm
Quoting malcolmb14
{quote} An insitutional trade told me once that algos use 14 sma the price is still up on the 4 hour the algo are designed to kiss the 14 sma on retraces thats why i am I am interested in the 2450 area .. anyway i am a day trader trading intraday trends and using compounding . If you make 5 to 10 percent on account per day by taking nice pullbacks in trends you can turns $3 k in to close to $640 k in 100 trades .... the charg below shows several nice retrace entries off the 14 Sma with a trend {image}
today as the 30 min is trending down I will be favouring a break of the open range ( first 30 min of London stock market open ) and a move towards 1.2500
Blogging daily now at www.volume.zone
  • #497,748
  • Oct 13, 2019 9:54pm Oct 13, 2019 9:54pm
Quoting malcolmb14
{quote} An insitutional trade told me once that algos use 14 sma the price is still up on the 4 hour the algo are designed to kiss the 14 sma on retraces thats why i am I am interested in the 2450 area .. anyway i am a day trader trading intraday trends and using compounding . If you make 5 to 10 percent on account per day by taking nice pullbacks in trends you can turns $3 k in to close to $640 k in 100 trades .... the charg below shows several nice retrace entries off the 14 Sma with a trend {image}
oh, ok, good point. Thanks.
Intraday only.
  • #497,749
  • Oct 13, 2019 10:11pm Oct 13, 2019 10:11pm
That's the plan for today

sell rallies off a 30/15 as long as the price remains under the 14 sma

target is that support level 1,2500 which is 38 percent of the up move

1.2450 is key level 50 percent of up move .. if that breaks we may have a reversal of this up move .

October 31 is some days away . Tomorrow a deal could be struck and gbp goes up 500 in 30 minutes . We never know what the future brings but we can trade the charts in front of us today
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  • #497,750
  • Oct 13, 2019 10:15pm Oct 13, 2019 10:15pm
On the 4 hour the 14 sma is at 1.2520 so my target is for price to come back down and tickle that moving average

I only aim for 40 pip a day on gbp / 50 Dax and 100 Dow

so if i get that 90 I have doubled days target

the key to if this trend holds us london open
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  • #497,751
  • Oct 13, 2019 10:39pm Oct 13, 2019 10:39pm
Todays plan as long as we get breakdown of london open range to down side and price remains under 14 sma on 30. Trend on 30 min changes to up trading plan cancelled .


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  • #497,752
  • Edited 11:26pm Oct 13, 2019 10:56pm | Edited 11:26pm
Quoting fontu
So 2541 limit down to up try if possble, now pa probable.same as before, Watching 2588 can be signal and 2541 can be first confirmation top failure. {image}
So protecting tl /signal 2588, may try gap fill to test limit 2541, say 2543 bounce last option. May break for 2nd confirmation 2406! Another level of interest 2579 . Daily /weekly tf may try protect for last days crazy run for 2989! But the crazy never a part of standard pa to carry out for all times.
Anyway it must protect the limit to stay afloat!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #497,753
  • Oct 13, 2019 11:28pm Oct 13, 2019 11:28pm
cable short taken with target 1.2515 sl just above week open
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  • #497,754
  • Oct 13, 2019 11:48pm Oct 13, 2019 11:48pm
Quoting PatienceFx
cable short taken with target 1.2515 sl just above week open {image}
the support at 2585 is temporary and not sustainable

cable went up purely on uk ireland brexit news
  • #497,755
  • Oct 13, 2019 11:55pm Oct 13, 2019 11:55pm
Quoting PatienceFx
{quote} the support at 2585 is temporary and not sustainable cable went up purely on uk ireland brexit news
Or ...

the news was made up to justify the price movement 😂.. seen it all in the markets over the years

will see what the London open range does today and see how price reacts with in it

favouring downside retrace but any break out of the open range high I quickly change my trading plan
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  • #497,756
  • Oct 14, 2019 12:08am Oct 14, 2019 12:08am
Maybe we go to 1.2780 area next
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ex nihilo
  • #497,757
  • Oct 14, 2019 12:10am Oct 14, 2019 12:10am
Quoting PatienceFx
cable short taken with target 1.2515 sl just above week open {image}
waiting short gbp
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  • #497,758
  • Oct 14, 2019 12:17am Oct 14, 2019 12:17am
2708 is not likely to break today.

If it breaks, then 2768
Intraday only.
  • #497,759
  • Oct 14, 2019 12:20am Oct 14, 2019 12:20am
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  • #497,760
  • Oct 14, 2019 12:28am Oct 14, 2019 12:28am
Quoting malcolmb14
{quote} Or ... the news was made up to justify the price movement .. seen it all in the markets over the years will see what the London open range does today and see how price reacts with in it favouring downside retrace but any break out of the open range high I quickly change my trading plan
my trade plan is set, my trade is taken, i will not touch it till either side is hit

either sl of 20 pips or target of 100 pips
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