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Cable Update (GBPUSD)

  • #523,081
  • May 26, 2020 1:42pm May 26, 2020 1:42pm
Quoting Moty
i have patient {image}
Hi

i think we need more patient

possible us index spike to 98.78 ...

I still waiting for ~102
  • #523,082
  • May 26, 2020 1:48pm May 26, 2020 1:48pm
A big and fast drop can be expected once 2350 ifails to brake now.
Intraday only.
  • #523,083
  • May 26, 2020 1:50pm May 26, 2020 1:50pm
Quoting ChiForex
{quote} Hold your brakes dude! GU would have to close over 1.2350s on Weekly to speak about any uptrend. And it is still Tuesday Any close below 1.2280 and you're from the past
You watch level, I read swings...
sell strength in falling markets, and buy weakness in rising markets.
  • #523,084
  • May 26, 2020 1:54pm May 26, 2020 1:54pm
Quoting Student21
{quote} Hoy Georginson, couldn't PM due to my 'junior' membership status but could you please point me to a resource explaining range trading? I think the basic idea is clear, but how do you know if price would retrace down, instead of rest sideways, or maybe fulfill the range up? Appreciated and good trading to All!
Below are previous ranges I worked out in my past post

30/03/2020 High 1.2475 - 1.2204 Low = 271 pips range ... Close 1.2269 (recovery from low 65 pips)
06/04/2020 High 1.2486 - 1.2164 low = 322 pips range ... Close 1.2448 (recovery from high 18 pips)
13/04/2020 High 1.2647 - 1.2406 Low = 241 pips range .... Close 1 2505 (recovery from high 142 pips)
20/04/2020. High 1.2500 - 1.2247 Low = 253 pips range .... Close 1.2365 (recovery from low 118 pips)
27/04/2020 High 1.2642 - 1.2359 Low = 283 pips range .... Close 1.2492 ( recovery from high 150 pips)
04/05/2020 High 1.2486 - 1.2259 Low = 221 pips range .... Close 1.2407 (recovery from low 148 pips)

Maximum Range = 322 pips
Average Range = 271 pips
Minimum Range = 221 Pips

Most common recovery = 120 - 150 pips.

Note: this week so far High 1.2362 Low 1.2162 = 200 pips range.
Whenever Monday Tuesday range spaces by 200 -250 pips, there is usually 160 - 250 pips retracement between Wednesday and Thursday.

So price likely to touch 1.2200/1.2110 between Wednesday and Thursday. Just my view not an advise for anyone.

Cheers.
Data + Stat + Risk/Emotions Management
  • #523,085
  • May 26, 2020 1:59pm May 26, 2020 1:59pm
Quoting Moty
i have patient {image}
But trend up
FUNDEDNEXT STEP-1 (MODEL-1&3) Return Today: -0.7%
  • #523,086
  • May 26, 2020 2:16pm May 26, 2020 2:16pm
2344 hard going might hedge to 2295
  • #523,087
  • May 26, 2020 2:17pm May 26, 2020 2:17pm
People expect next three days as a sell of but matter of fact is , buying would accelerate in next three days
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200527-001645.png Size: 133 KB
sell strength in falling markets, and buy weakness in rising markets.
  • #523,088
  • May 26, 2020 2:22pm May 26, 2020 2:22pm
For day i post soon signal setup guys be ready
Attached Image (click to enlarge)
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FUNDEDNEXT STEP-1 (MODEL-1&3) Return Today: -0.7%
  • #523,089
  • Edited 3:07pm May 26, 2020 2:45pm | Edited 3:07pm
Quoting seincard
{quote} Hi i think we need more patient possible us index spike to 98.78 ... I still waiting for ~102
Ok,
It seems that the downtrend pattern is gradually taking shape (m5)

imo,
for D1 we need double top or red candle without shadow for confirmation start downtrend...

must wait

  • #523,090
  • May 26, 2020 2:46pm May 26, 2020 2:46pm
Quoting navk
A big and fast drop can be expected once 2350 ifails to brake now.
good call .
20 pips drop
yes yes yes
  • #523,091
  • May 26, 2020 2:48pm May 26, 2020 2:48pm
Quoting sangra28
{quote} But trend up
i know , i trading the retracee
Attached Image (click to enlarge)
Click to Enlarge Name: gu15.png Size: 36 KB
yes yes yes
  • #523,092
  • May 26, 2020 2:59pm May 26, 2020 2:59pm
Quoting OnlineAddict
{quote} Now 2361.
Now it looks better than just a scalp, maybe worth keeping bit longer. 2250-70 looks like a good target.
Everyone can see the chart, but only a few can actually read it.
  • #523,093
  • May 26, 2020 3:10pm May 26, 2020 3:10pm
Quoting Georginson
{quote} Below are previous ranges I worked out in my past post 30/03/2020 High 1.2475 - 1.2204 Low = 271 pips range ... Close 1.2269 (recovery from low 65 pips) 06/04/2020 High 1.2486 - 1.2164 low = 322 pips range ... Close 1.2448 (recovery from high 18 pips) 13/04/2020 High 1.2647 - 1.2406 Low = 241 pips range .... Close 1 2505 (recovery from high 142 pips) 20/04/2020. High 1.2500 - 1.2247 Low = 253 pips range .... Close 1.2365 (recovery from low 118 pips) 27/04/2020 High 1.2642 - 1.2359 Low = 283 pips range .... Close 1.2492 ( recovery from high...
Thanks a ton! I also expect it to get back to 1.2200 (and hopefully this week) based on a mini 1m gap and some strange bars but let's see! Got stuck at some shorts in the previous night that didn't tp around the 1.218 level and got a good lesson today. Much appreciated and I'll follow!
A trader is as good as his stop loss. Understand your mistakes.
  • #523,094
  • May 26, 2020 3:18pm May 26, 2020 3:18pm
H4

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  • #523,095
  • May 26, 2020 3:29pm May 26, 2020 3:29pm
2331 long 6 pip stop
  • #523,096
  • May 26, 2020 3:31pm May 26, 2020 3:31pm
yeah, let sells this sucker!!!!
  • #523,097
  • May 26, 2020 3:38pm May 26, 2020 3:38pm
What you expect tomorrow’s direction guys after today’s frenzy?
What you think was reason for today’s huge move?
  • #523,098
  • May 26, 2020 3:39pm May 26, 2020 3:39pm
Quoting elbert3
2331 long 6 pip stop
retracement to 1.2300 for up
  • #523,099
  • May 26, 2020 3:47pm May 26, 2020 3:47pm
Attached Image (click to enlarge)
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Quoting thevisitor
{quote} retracement to 1.2300 for up
I think if it breaks 2325 you might not see 2300 2265 could ?? Could be the one 2336might be the hedge i was talking about playing
  • #523,100
  • May 26, 2020 3:59pm May 26, 2020 3:59pm
Quoting thevisitor
H4 {image}
thevisitor, just stick with your plan, you know when the market confirms your analysis and you know when you are wrong...Tuesday is an important day of the week if you play weekly range. I try to bring awareness to this fact and mark for the last 3-4 weeks Tu on my charts.
Attached Image(s) (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
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