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Cable Update (GBPUSD)

  • #508,781
  • Jan 16, 2020 3:31am Jan 16, 2020 3:31am
Quoting knkie
{quote} im sidelined now. waiting. could go either way
yesss mate..
3066/80/95..
still i’m at my bears
just for a cup of coffee...
  • #508,782
  • Jan 16, 2020 3:32am Jan 16, 2020 3:32am
Quoting Tekin
{quote} I cleared many thing on my scren and i need to see nay h4 candle to close above fibo 100 level to change my sell to buy and if price shoul touch 1.3085 to stop {image}
The trend line was broken on Monday. A demand area was formed which was respected. To affirm that the trend becomes long, the price must break the first supply area or WPP approximately. Until then I only scalp ... but it is only my opinion
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  • #508,783
  • Jan 16, 2020 3:42am Jan 16, 2020 3:42am
The flag is here , up up and away we go.
You saw this pattern yesterday , and you know where It's going
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yes yes yes
  • #508,784
  • Jan 16, 2020 3:52am Jan 16, 2020 3:52am
Partial profit taken, stop moved to little lower than break even at 1.29776. Riding the wave now. Will add more to it when the market pulls back and keeps the bullish structure intact.

https://www.forexfactory.com/showthr...0#post12705760

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Technical Analyst & Trader @ Vikinsa
  • #508,785
  • Jan 16, 2020 4:17am Jan 16, 2020 4:17am
Candle formation on the lower time frames suggests more bullish pressure coming.

Guz
Charts don't drive price, market conditions drive price...
  • #508,786
  • Jan 16, 2020 4:20am Jan 16, 2020 4:20am
long in at 1.3057 --- target 1.3062
Don't trade what you think. Just what you see!!!
  • #508,787
  • Jan 16, 2020 4:24am Jan 16, 2020 4:24am
Quoting Theoak
long in at 1.3057 --- target 1.3062
out +5 pips
Don't trade what you think. Just what you see!!!
  • #508,788
  • Jan 16, 2020 4:31am Jan 16, 2020 4:31am
Quoting Guztro
Candle formation on the lower time frames suggests more bullish pressure coming. Guz
Breakout my friend, the spike is coming
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yes yes yes
  • #508,789
  • Jan 16, 2020 4:41am Jan 16, 2020 4:41am
Quoting Guztro
Candle formation on the lower time frames suggests more bullish pressure coming. Guz
Normally the price to demonstrate strength must make a maximum shifted to the right not to the left
M15
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  • #508,790
  • Jan 16, 2020 4:48am Jan 16, 2020 4:48am
Quoting 19monza64
{quote} Normally the price to demonstrate strength must make a maximum shifted to the right not to the left M15 {image}
This on your chart is a bullish formation.
Attached Image
Charts don't drive price, market conditions drive price...
  • #508,791
  • Jan 16, 2020 4:53am Jan 16, 2020 4:53am
Quoting Guztro
{quote} This on your chart is a bullish formation. {image}
Looks more like a consolidation to me.
It's a sport, an artform and a science.
  • #508,792
  • Jan 16, 2020 4:59am Jan 16, 2020 4:59am
I think the mid term direction is bullish. Not my normal strategy, but long in at 1.3061 Lets go for the round number 1.3200!!!!
Don't trade what you think. Just what you see!!!
  • #508,793
  • Jan 16, 2020 5:00am Jan 16, 2020 5:00am
Quoting Donaciello
{quote} Looks more like a consolidation to me.
What is consolidation? For me personally it is a point in the market where either more buyers will get on the bus, or conversely more sellers. In this instance the way the candles formed, more buyers joined so I expect price to move higher.

There are more than 80 different candle formations I've studied, too many to go through all of them here. Very powerful when you are scalping.

Guz
Charts don't drive price, market conditions drive price...
  • #508,794
  • Jan 16, 2020 5:03am Jan 16, 2020 5:03am
Quoting Theoak
I think the mid term direction is bullish. Not my normal strategy, but long in at 1.3061 Lets go for the round number 1.3200!!!!
You might be right about that.
I'm quite short though, but hoping for a spike to 1.31 when ECB policy minutes come out, to add some more.

From the looks of it, I think the upside is more likely than the downside.
Only question is the extent of the upside potential.
It's a sport, an artform and a science.
  • #508,795
  • Jan 16, 2020 5:04am Jan 16, 2020 5:04am
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yes yes yes
  • #508,796
  • Jan 16, 2020 5:06am Jan 16, 2020 5:06am
Quoting Guztro
{quote} What is consolidation? For me personally it is a point in the market where either more buyers will get on the bus, or conversely more sellers. In this instance the way the candles formed, more buyers joined so I expect price to move higher. There are more than 80 different candle formations I've studied, too many to go through all of them here. Very powerful when you are scalping. Guz
By consolidation I mean a cluster in time where price does not decisively move one way or another.
I'm not quite sure what you meant with buyers or sellers joining, since there's a buyer for every seller and vice versa in every transaction.
The point I think is the urgency of either (buyers or seller using market orders versus limits).
It's a sport, an artform and a science.
  • #508,797
  • Jan 16, 2020 5:10am Jan 16, 2020 5:10am
It looks like it's going sideways now. I am done for today.

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The biggest risk is not taking a risk.
  • #508,798
  • Jan 16, 2020 5:12am Jan 16, 2020 5:12am
Quoting Donaciello
{quote} By consolidation I mean a cluster in time where price does not decisively move one way or another. I'm not quite sure what you meant with buyers or sellers joining, since there's a buyer for every seller and vice versa in every transaction. The point I think is the urgency of either (buyers or seller using market orders versus limits).
Anyone can join the market at any given time, so if a level seems attractive to a buyer/seller they'll join in.

When price is not decisively moving, it can be due to buyers/sellers taking profit, but it is also the point where new buyers/sellers join.

Guz
Charts don't drive price, market conditions drive price...
  • #508,799
  • Jan 16, 2020 5:13am Jan 16, 2020 5:13am
GBP to be triggered short on Lagarde speach due to EURGBP acceleration...
  • #508,800
  • Jan 16, 2020 5:14am Jan 16, 2020 5:14am
Quoting leppozdrav
It looks like it's going sideways now. I am done for today. {image}
Some potentially market moving news coming out in about 1,5 hours from now (check the calender).
Also Lagarde will speak tonight, which I think will not only move the EUR, but also the dollar and pound.

In short, quite some volatility to look forward to today.

Good luck either way!
It's a sport, an artform and a science.
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