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Cable Update (GBPUSD)

  • #506,401
  • Dec 16, 2019 2:23am Dec 16, 2019 2:23am
So the M5 bearish run has been truncated just when PA had started sighting the H1 average at 3352. Let's see if the bulls will take over from here
Attached Image (click to enlarge)
Click to Enlarge Name: GU M5 1612C.png Size: 29 KB
  • #506,402
  • Dec 16, 2019 2:38am Dec 16, 2019 2:38am
Quoting Bydyke
PA is now on DP. We shall find out the direction soon enough. However, the bias is northwards particularly as we have PMI news in one and half hours time. Manipulation or not, GU has a record of always running up before any major news
it is not a major news...it is lagging indicator and would not have Profound impact on P.A...
sell strength in falling markets, and buy weakness in rising markets.
  • #506,403
  • Dec 16, 2019 2:46am Dec 16, 2019 2:46am
rule of thump is you always buy on 50% retracement of major spikes up due to fundamental change... i.e shift in interest rate policy, political uncertainty or changes to certainty....play sentiment instead of finding the direction...but people were selling hoping on Friday hoping that it would continue to travel down to its pre spike level....
sell strength in falling markets, and buy weakness in rising markets.
  • #506,404
  • Dec 16, 2019 2:58am Dec 16, 2019 2:58am
PA has now cascaded to H1 average (3357). To be or not to be
  • #506,405
  • Dec 16, 2019 3:00am Dec 16, 2019 3:00am
Quoting Bydyke
PA has now cascaded to H1 average (3357). To be or not to be
There's an incomplete ABC correction in play on the m30 and H1 time frames, there's still room for the bulls.

Guz
Charts don't drive price, market conditions drive price...
  • #506,406
  • Dec 16, 2019 3:22am Dec 16, 2019 3:22am
Quoting Guztro
{quote} There's an incomplete ABC correction in play on the m30 and H1 time frames, there's still room for the bulls. Guz

But for now, the bears are on the saddle. Infact, 3320 is now on the radar
  • #506,407
  • Dec 16, 2019 3:31am Dec 16, 2019 3:31am
Correction: PA is now at DP (3347) with the bears all over the place.

PMI news is also negative. Will it be explosive today?
  • #506,408
  • Dec 16, 2019 3:36am Dec 16, 2019 3:36am
Attached Image (click to enlarge)
Click to Enlarge Name: Cattura.PNG Size: 73 KB
  • #506,409
  • Dec 16, 2019 3:38am Dec 16, 2019 3:38am
Are we going back to 1.3240- ?
COT: The precious data ignored
  • #506,410
  • Dec 16, 2019 3:51am Dec 16, 2019 3:51am
Quoting kuroro001
Are we going back to 1.3240- ?
correction may be 1.3275-1.3240 then i think fly again
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 21 KB
good luck
  • #506,411
  • Dec 16, 2019 3:52am Dec 16, 2019 3:52am
Quoting tito5615104
{quote} correction may be 1.3275-1.3240 then i think fly again
Yes its possible, i'll be waiting for a dip below 1.3240 down to 1.32, and see what to do from here, long or short again.

I'm staying short for now
COT: The precious data ignored
  • #506,412
  • Dec 16, 2019 4:35am Dec 16, 2019 4:35am
What i see.Last night Gu didnt do bottom(lets say it turned from 40 to up),but it should do bottom -20,now it turns down again-to 20-bottom1 H,H4 down with big divergence down longtime-indicator,daily double top forming-on indicator.i stayed in short last time because H4 went down by indicator.
  • #506,413
  • Dec 16, 2019 4:38am Dec 16, 2019 4:38am
5th wave in the making
Attached Image (click to enlarge)
Click to Enlarge Name: New Doc 2019-12-16 12.35.39_1.jpg Size: 96 KB
yes yes yes
  • #506,414
  • Dec 16, 2019 4:40am Dec 16, 2019 4:40am
but better look h1 if it will 20-better go out of short.And wait short again from top.Gu is crazy.
  • #506,415
  • Dec 16, 2019 4:42am Dec 16, 2019 4:42am
what is next station 1.3115 or 1.3519 unless below 1.3370 1.3115 more realistic my 2 cent
  • #506,416
  • Dec 16, 2019 4:45am Dec 16, 2019 4:45am
Quoting 19monza64
{image}
close buy + 18 pips.
  • #506,417
  • Dec 16, 2019 4:46am Dec 16, 2019 4:46am
Quoting Bydyke
{quote} But for now, the bears are on the saddle. Infact, 3320 is now on the radar
The up move ABC correction will come before 3320, I never mess with a bearish correction, so I’ll wait for the up move to complete before going short.

Guz
Charts don't drive price, market conditions drive price...
  • #506,418
  • Dec 16, 2019 4:54am Dec 16, 2019 4:54am
After double bottom daily (last time)GU changed direction-we see this trend-after double bottom.I add in reality triple top now Gu crossed 80 3 times and didnt do bottom yet.it crossed one time a little-80,and two times big top-now top is forming.bottom the same-one-small and two big.
  • #506,419
  • Dec 16, 2019 5:02am Dec 16, 2019 5:02am
i put pending sell @ 1.3384 may work to 1.3250
good luck
  • #506,420
  • Dec 16, 2019 5:08am Dec 16, 2019 5:08am
Quoting knkie
its gonna be a BIG day ! BUY 3393 32 pip target
took a 13 pip loss on this.
Still not sure why it went south but i was able to scalp back the loss and then some ...
Looks like price is finally finding its footing for a move up.
could be wrong
in wondering about yourself, you forgot what you came here to be part of
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