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Cable Update (GBPUSD)

  • #515,081
  • Apr 1, 2020 4:12am Apr 1, 2020 4:12am
Still works MA 34 and fibonacci 50% on daily and only short
  • #515,082
  • Apr 1, 2020 4:17am Apr 1, 2020 4:17am
Quoting b_hand
Still works MA 34 and fibonacci 50% on daily and only short
nice to see, been able to pull 7 scalps on the down trend so far, waiting for some more perfect prices to get executions on
  • #515,083
  • Apr 1, 2020 4:19am Apr 1, 2020 4:19am
Quoting b_hand
Still works MA 34 and fibonacci 50% on daily and only short
can you display the chart?
  • #515,084
  • Apr 1, 2020 4:22am Apr 1, 2020 4:22am
Up - breaking 2479 swing continuation
Down - breaking 2242 daily continuation

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 23 KB
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  • #515,085
  • Apr 1, 2020 4:26am Apr 1, 2020 4:26am
Quoting pipfarm
Up - breaking 2479 swing continuation Down - breaking 2242 daily continuation {image}
very interesting...
  • #515,086
  • Apr 1, 2020 4:28am Apr 1, 2020 4:28am
Just took my 40 with me, overall + 20
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #515,087
  • Apr 1, 2020 4:37am Apr 1, 2020 4:37am
Learn to separate buyers and sellers long term and short term for both USD and GBP,right now both currencies are strong short term and long term,Use MTF to see this,just trade other pairs until these two behave
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.png Size: 111 KB
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  • #515,088
  • Apr 1, 2020 4:48am Apr 1, 2020 4:48am
Quoting joesherwood
{quote} very interesting...

Some general principles of t/a thanks to Martin Pring.


1. A number of different trends simultaneously influence the price level of any market.
2. The three most important trends are primary, intermediate, and short term.
3. The principles of technical analysis apply to intraday trends, but since they are more random in nature, the analysis is generally less reliable than that for longer-term trends.
4. Very long-term, or secular, trends influence the magnitude of primary bull and bear markets.
5. Peak-and-trough progression is the most basic trend-identification technique, and is a basic building block of technical analysis.
Follow The Markets Structure - Patience and Discipline
  • #515,089
  • Apr 1, 2020 4:53am Apr 1, 2020 4:53am
Number 1 rule is trade with trend,we have both pairs strong hence there is not clear trend
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.png Size: 124 KB
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  • #515,090
  • Apr 1, 2020 5:15am Apr 1, 2020 5:15am
If we see GJ looks like rising wedge on H4 just some corelation on pair GBP.
  • #515,091
  • Apr 1, 2020 5:34am Apr 1, 2020 5:34am
Quoting ZenNy
long 1.2363
I am still in it...not sure what will happen next...
trading is simple but is simple is not easy.
  • #515,092
  • Apr 1, 2020 5:36am Apr 1, 2020 5:36am
Buy 1.2370 for 30
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #515,093
  • Apr 1, 2020 5:43am Apr 1, 2020 5:43am
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.png Size: 27 KB
Attached Image (click to enlarge)
Click to Enlarge Name: gu15.png Size: 27 KB
yes yes yes
  • #515,094
  • Apr 1, 2020 5:46am Apr 1, 2020 5:46am
I'm with you Moty!
  • #515,095
  • Apr 1, 2020 5:46am Apr 1, 2020 5:46am
Quoting Almo2312
Buy 1.2370 for 30
I will take it for 40 (1.2410)
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #515,096
  • Apr 1, 2020 5:55am Apr 1, 2020 5:55am
If it does go up we could be looking at 2600-2700 old support becomes new resistance on hourly

If it breaks the level down i posted earlier then the target would be around the 1950 area , old resistance becomes new support
Follow The Markets Structure - Patience and Discipline
  • #515,097
  • Apr 1, 2020 6:02am Apr 1, 2020 6:02am
Quoting Almo2312
{quote} I will take it for 40 (1.2410)
I bought in @ 2377 & 2375, little bit late but 16 pips each

Wonder why Cable caught a bid when it looked as if it was heading to 2300??
Can easily head south as this 4hr candle could go either way just now, 2350 and were bearish, 2384 bullish
Don't Leave Money on the Table
  • #515,098
  • Apr 1, 2020 6:06am Apr 1, 2020 6:06am
EURGBP hourly is in a nice trend reversal with support around the 8600 level so that looks good for cable longs


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH1.png Size: 36 KB
Follow The Markets Structure - Patience and Discipline
  • #515,099
  • Apr 1, 2020 6:08am Apr 1, 2020 6:08am
Enjoy....

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Don't Leave Money on the Table
  • #515,100
  • Apr 1, 2020 6:23am Apr 1, 2020 6:23am
Quoting pipfarm
EURGBP hourly is in a nice trend reversal with support around the 8600 level so that looks good for cable longs {image}
There's always talk of end of month flows and how a currency can be sold of and now it's a new month maybe the opposite happens???
Just a thought
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