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Cable Update (GBPUSD)

  • #525,061
  • Jun 3, 2020 5:03am Jun 3, 2020 5:03am
Quoting avpcap
They call it the “Widow Maker” for good reason!
I like it....The Widow Maker..
Don't Leave Money on the Table
  • #525,062
  • Jun 3, 2020 5:05am Jun 3, 2020 5:05am
Quoting Bydyke
GU is doing what it knows best: diverting attention from its intention to move south. The give-away is the last two candles on H1. And now, M5 is unable to close above the Auto R1 pivot at 2590
I would think this need to go up to 1.2647 - 1.2662 IMO first before correcting. We'll see.
Lost....
  • #525,063
  • Jun 3, 2020 5:12am Jun 3, 2020 5:12am
Quoting gespiri
{quote} I would think this need to go up to 1.2647 - 1.2662 IMO first before correcting. We'll see.
H1 has closed bullish indicating a stalemate but it's still within the Aki's EMA 5 top band and so the bias remains southwards. In any case, the M5 average currently at 2587 will decide this duel soon enough. If PA closes decisively above it, the bulls are back, if not, the bears will hold sway.
Attached Image (click to enlarge)
Click to Enlarge Name: GU M5 0306.png Size: 41 KB
  • #525,064
  • Jun 3, 2020 5:15am Jun 3, 2020 5:15am
Quoting dimadono
short set up on m1 chart. Invalidation 1st channel {image}
after completion of channel on the upside now i do believe we will see shorts coming into the game.

Another short at 1.2597
target: 1.20
stop: 1.2655
  • #525,065
  • Jun 3, 2020 5:24am Jun 3, 2020 5:24am
Some time ago Navk mentioned something really useful for the 15min chart.

If the price is below the 50 EMA - it will stay down and vice versa.

It has dropped below it a few times, but not a single candle stayed below. Same thing with the DXY.

This will be my strategy to keep my longs and expect a retracement/reversal.

Stay green and safe.
Patience and Discipline.
  • #525,066
  • Jun 3, 2020 5:26am Jun 3, 2020 5:26am
Quoting HaLBot
{quote} Doing what it does best, destroying traders analysis.... Been there many times......LOL grabbed a scalp 2587 to 2598...
Congrats, that's the best way to trade GU these days.

If you sniff it out, pick it up immediately: 5, 10, 15 pips, etc. They all add up at the end of the day.
  • #525,067
  • Jun 3, 2020 5:28am Jun 3, 2020 5:28am
I believe traders are eyeing 2660 to sell GU the Daily 200ma and this is the 5 straight bullish candle, we can get more bullish candles in a row but it's going to turn south next day or two, Friday at the latest...
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 73 KB
Don't Leave Money on the Table
  • #525,068
  • Jun 3, 2020 5:32am Jun 3, 2020 5:32am
Quoting Bydyke
{quote} Congrats, that's the best way to trade GU these days. If you sniff it out, pick it up immediately: 5, 10, 15 pips, etc. They all add up at the end of the day.
Yep the algos screwed up trading forever....great if your a profitable algo trader, and now I heard something like 60% is algo and eventually there will be no humans trading...

Too right they add up, all you need is a little patience then suddenly your up hundreds or thousands of dollars without much effort.
Back into it on Monday and turned 200 bucks into 600 bucks after just 3 days, ridiculously easy if you don't force it and have that patience....
Don't Leave Money on the Table
  • #525,069
  • Jun 3, 2020 5:37am Jun 3, 2020 5:37am
Quoting Stefan90csk
...... It has dropped below it a few times, but not a single candle stayed below.....

But notice too that PA has not been far away from EMA 50/M15 and besides M15 is still printing hi-lo. So, it will not be surprising if we see PA swoop past the EMA
  • #525,070
  • Jun 3, 2020 5:47am Jun 3, 2020 5:47am
Quoting HaLBot
I believe traders are eyeing 2660 to sell GU the Daily 200ma and this is the 5 straight bullish candle, we can get more bullish candles in a row but it's going to turn south next day or two, Friday at the latest... {image}
Exactly my thought process...
Data + Stat + Risk/Emotions Management
  • #525,071
  • Jun 3, 2020 5:51am Jun 3, 2020 5:51am
2nd channel invelidation. Heading towards the drop!
  • #525,072
  • Jun 3, 2020 5:58am Jun 3, 2020 5:58am
Quoting ongtrumvn99
ADD LONG 1.2540
closed all buy.
SCALP WIN
  • #525,073
  • Jun 3, 2020 5:59am Jun 3, 2020 5:59am
Price is reversible.
SCALP WIN
  • #525,074
  • Jun 3, 2020 6:03am Jun 3, 2020 6:03am
Hit R
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily0306.png Size: 53 KB
SCALP WIN
  • #525,075
  • Jun 3, 2020 6:07am Jun 3, 2020 6:07am
Some high impact news in an hours time, could set the tone for NY session...
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 6 KB
Don't Leave Money on the Table
  • #525,076
  • Jun 3, 2020 6:15am Jun 3, 2020 6:15am
d1
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily0306a.png Size: 56 KB
SCALP WIN
  • #525,077
  • Jun 3, 2020 6:28am Jun 3, 2020 6:28am
At last, the march is on.

For me, the initial destination is H1 average at 2548
  • #525,078
  • Jun 3, 2020 6:31am Jun 3, 2020 6:31am
Quoting Bydyke
At last, the march is on. For me, the initial destination is H1 average at 2548
Around daily open, lets see what it does there
  • #525,079
  • Jun 3, 2020 6:38am Jun 3, 2020 6:38am
Attached Image (click to enlarge)
Click to Enlarge Name: F9EAA7D2-A0B7-42E4-BF32-C8C364A583F2.png Size: 368 KB
It’s looking like it needs more buyers . So retrace levels 38% 2452 and old tl . Fail then 50% 2404 61.8% 2357 . Higher ext 161% 2840
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