Cable Update (GBPUSD)

Quoting Ra.

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{quote} I got burned on gap fills at the end of 2019. Gaps still haven't been filled.....

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Quoting Guztro

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{quote} Ra, I make the assumption that you are still finding your feet in trading? I’m not here to advise you to buy or sell, you can decide that on your own. However, to quote my foot note “Charts don’t drive price, market conditions drives price”. Over the next month you will see why understanding fundamentals is an important skill in ALL trading, not just Forex. Trade safe Guz

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Quoting akim0895

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{quote} as i told before.. i’m the less experience around yes you got the point that charts not drive the price market does move its.. but need to remember..charts give a clue,signal,pattern or anything they call..where market want to drive to.. going a trip to london,NY,brasil or any part of the world.. all from clue,signal,pattern that come from charts.. so all is connecting each others.. fundametals or others.. will do their part to move the price too.. so before next month we just follow where the market/price want to go.. nice weekend from...

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Quoting Guztro

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{quote} I share your point, the big boys has the road map, and they more often than not steer you to a fork in the road, and just when you think they're turning left, they swing hard right . Fundamentals is my GPS, charts is just a guide. Cheers Guz

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Quoting Georginson

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{quote} Fingers crossed Bones... You are very good at drawing charts which isn't my strong point as I only work on cyclical ranges. As I said earlier, time will reveal who is right and wrong. Peace!

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Quoting akim0895

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{quote} yes.. that how they turn with a drift from 3510 and again sharp U turn at 3205(this one mass slaughtered).. after they full they will switch as always.. not down anymore so up we go.. for me fundametal just a guide charts show me the way where market want to go take care..

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Quoting Bones

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let me take my concept a bit further on you comment about 12775. I agree thats a superb pivot.But lets say it goes there next week . What would the monthly look like then for the target 1.3400 on week 2 of feb, for feb. not to mention this week would have confirmed. {quote}

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Quoting Georginson

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{quote} What is your view on the next direction of this pair (GBPUSD)?

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Quoting Georginson

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{quote} Bones, I said earlier that I work on ranges but I will still try to explain my thought process. The expected range for this month is 500-700 pips. Should this high (1.3183) remains unbroken then an easy ride to 1.2650-1.2550 if the strong support at 1.2775 is broken. Should 1.2775-1.2850 level hold then 1.34xx will be attacked quickly and aggressively. So pay very close attention to how price behaves at 1.2850-1.2775 levels.

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Quoting Bones

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no every step down takes that view to no way ,absolutely not , if this weekly confirms its not going there this month or next ,playing with ranges only is wacky out there workmanship. Work on price action and standard known tech. If it breaks I don't need to wait to know with the highest probability you can think of...1.34xxx is not on the table at this time. {quote} {image}

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Quoting Georginson

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{quote} I still insist on price touching 1.34 this month. I can afford to lose 150 more pips to gain 500 pips from here. I will not be on selling side from now on in February. Bones, I know you are a very good trader and I can't win any trade direction argument with you. If it goes down to 1.26xx without going towards 1.34 region, I will always look out for you for more tutorial. Peace!

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Quoting Georginson

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{quote} I still insist on price touching 1.34 this month. I can afford to lose 150 more pips to gain 500 pips from here. I will not be on selling side from now on in February. Bones, I know you are a very good trader and I can't win any trade direction argument with you. If it goes down to 1.26xx without going towards 1.34 region, I will always look out for you for more tutorial. Peace!

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Quoting Guztro

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{quote} Ra, I make the assumption that you are still finding your feet in trading? I’m not here to advise you to buy or sell, you can decide that on your own. However, to quote my foot note “Charts don’t drive price, market conditions drives price”. Over the next month you will see why understanding fundamentals is an important skill in ALL trading, not just Forex. Trade safe Guz

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Quoting krst8

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{quote} akim will have to answer that, but does it really matter? I have read some nice litteratur, karen peloille. Her inital chapter in the book basically ”states” that the retail trader has no chance agains the big players, they have all the resources, can do all the studies, can take all the statistics with as many enginners/people as they can staff... why the retail trader should not believe he is smarter then them... hence, find some short term trend, take the profits and run :-)

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Quoting louisfx

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{quote} I can only see 1.277 level that's were I hv my TP.

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Quoting Bones

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here this guy explains it in a video https://dailypriceaction.com/setups/...ry-10-14-2020/ {quote}

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