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Cable Update (GBPUSD)

  • #510,601
  • Feb 3, 2020 11:35am Feb 3, 2020 11:35am
Quoting msniper
{quote} there is no doubt with your anaylsis that GBPUSD will head down but the question is do you see that we will hit 1.3250 to 1.3420 area range before the big dumb ?

I personally wait to short near 1.3380 area
Hi

Respect

The big dump is figure of speech .
Forex is death by THOUSANDS cuts, so it'll be 50 ups 60 dips ....

Of course We WANT to sell 1.33..... But what if we miss?

Your question is personal Really : Do I dare buy ... then sell ?

Only YOU can answer because YOU know YOUR time-frame and computer sit down time .

Me?? I'm easy. 1.30 oscillation . Piece of cake

Green pips!!!
Beware of robber banks (RB), bad advisors.
  • #510,602
  • Feb 3, 2020 11:40am Feb 3, 2020 11:40am
Quoting Guztro
Just opened my long term buys...TP1 @ 1.3160 Trade Safe Guz

Gave it another try at 1.2905, long at S3 pivot. Will be again looking for a confirmation at 1 min ichi cloud at 3001, next resistance again at about 3016.
  • #510,603
  • Feb 3, 2020 11:51am Feb 3, 2020 11:51am
Quoting krst8
{quote} Gave it another try at 1.2905, long at S3 pivot. Will be again looking for a confirmation at 1 min ichi cloud at 3001, next resistance again at about 3016.
Hi krst8, please remember that I'm a swing trader, and my intra-day targets are based on a smaller structure within a bigger structure. I hold my positions until price gets there, whether 1/2/3 days. Just thought I'd point that out.

Good luck with your trades.

Guz
Charts don't drive price, market conditions drive price...
  • #510,604
  • Feb 3, 2020 11:56am Feb 3, 2020 11:56am
ok, last today long
  • #510,605
  • Edited 12:19pm Feb 3, 2020 12:04pm | Edited 12:19pm
Quoting Guztro
{quote} Hi krst8, please remember that I'm a swing trader, and my intra-day targets are based on a smaller structure within a bigger structure. I hold my positions until price gets there, whether 1/2/3 days. Just thought I'd point that out. Good luck with your trades. Guz
thanks alot for the info, that is actually kinda my same timeframes but for now primarily a short scalp, if it can develop above 3020 i am planning to let it run a little with a hard stop there.

i am hoping/looking for DXY to break 5min resistance, 97.79, this should ease some uppside in GBP to.


usually i am keeping trades up to a few days. I am working daily, live in europa so work from Frankfurt open until london close, so cant really do scalping, but have some issues with timing and setting stops for swing trades... but have to learn slowly, only month 4 into forex, but i think I found my favorite hobby in my late 30ties :-)

i am still bearish on this pair, but today was little to much.
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  • #510,606
  • Feb 3, 2020 1:11pm Feb 3, 2020 1:11pm
Cable forecast in next 2-3 months until eu-uk talks come to common sense. Period of consolidation looks to be over anytime soon. Pair will face 2 crucial supports before either leg formes new direction. I would call 60-40 percent of chance to support drawn scenario
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  • #510,607
  • Feb 3, 2020 1:22pm Feb 3, 2020 1:22pm
Quoting Ivan0501
Cable forecast in next 2-3 months until eu-uk talks come to common sense. Period of consolidation looks to be over anytime soon. Pair will face 2 crucial supports before either leg formes new direction. I would call 60-40 percent of chance to support drawn scenario {image}
Ivan0501, you are almost there, please review the guidelines for EW and see for yourself where you made a mistake ...
http://forex-indicators.net/cycle-in...tt-waves/rules
Always trade your own plan...I don't provide trading signals.
  • #510,608
  • Feb 3, 2020 1:26pm Feb 3, 2020 1:26pm
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Patience is the key for success.
  • #510,609
  • Feb 3, 2020 1:54pm Feb 3, 2020 1:54pm
Looks like a failed wedge pattern breakout. I suspect it's going to be like this for the month with all the Brexit trade war talks that will follow between BoJo and the EU.
  • #510,610
  • Feb 3, 2020 2:28pm Feb 3, 2020 2:28pm
Hi guys! See my newest chart on gbpusd. I believe trading could happen within a rectangle.
Risk Management is of utmost importance!
  • #510,611
  • Feb 3, 2020 3:34pm Feb 3, 2020 3:34pm
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I have to go buy glasses, there was no Long in any shape or size today
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yes yes yes
  • #510,612
  • Feb 3, 2020 3:36pm Feb 3, 2020 3:36pm
Quoting Moty
{image}{image} I have to go buy glasses, there was no Long in any shape or size today {image}
Tomorrow might be...
3080...maybe more.
Everyone can see the chart, but only a few can actually read it.
  • #510,613
  • Feb 3, 2020 4:07pm Feb 3, 2020 4:07pm
Quoting OnlineAddict
{quote} Tomorrow might be... 3080...maybe more.
or 2900
  • #510,614
  • Feb 3, 2020 4:19pm Feb 3, 2020 4:19pm
Quoting pridolfx
{quote} or 2900
Yes, both possible. But I would go with the higher first...before 2900.
Everyone can see the chart, but only a few can actually read it.
  • #510,615
  • Feb 3, 2020 4:39pm Feb 3, 2020 4:39pm
Quoting akim0895
{quote} how about 2980? last week low..
almost..
not bad...
just for a cup of coffee...
  • #510,616
  • Feb 3, 2020 4:42pm Feb 3, 2020 4:42pm
long above the top of the last importent 4h candle
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yes yes yes
  • #510,617
  • Feb 3, 2020 4:48pm Feb 3, 2020 4:48pm
I think it’s going to be a big sell off as the banks bought all they could and their selling the thing off in big chunks
  • #510,618
  • Feb 3, 2020 4:51pm Feb 3, 2020 4:51pm
Big gap for buying but make sure your account can sustain a possible big short
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  • #510,619
  • Feb 3, 2020 7:00pm Feb 3, 2020 7:00pm
Quoting msniper
{quote} there is no doubt with your anaylsis that GBPUSD will head down but the question is do you see that we will hit 1.3250 to 1.3420 area range before the big dumb ? I personally wait to short near 1.3380 area {image} {image}
The only issue with this is: EURGBP, GBPJPY already retraced ALL of the GBP bullishness from last week. So either its EUR and JPY strength or GBP is on rocky areas.
  • #510,620
  • Feb 3, 2020 7:13pm Feb 3, 2020 7:13pm
  •  dmj120
  • | Joined Jan 2020 | Status: Newbie with professional aspiration | 108 Posts
Quoting krst8
{quote} Yes, did 70 in two pairs each (shorted also gbp aud). However after 4 months forex trading i still cant manage to psychological hold a winner but can keep a looser way to long... took a large hit on my account during the 3 December breakout and lost my confidence...
I hear ya!!! I am still working through this, which is something I think to be a huge milestone.
School of hard knocks
dmj120 Return This Year: na
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