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Cable Update (GBPUSD)

  • #526,241
  • Edited 1:34am Jun 9, 2020 1:18am | Edited 1:34am
Quoting Theoak
{quote} Stupid going against the long term trend long in at 1.2712 - 1.2754 - sl 1 1.2704
One thing I will never do is to go against trend and fibs. Price broke the 61.8% fib retracement of the last down move. So the next target is the 78.6% which sits roughly around 2820. So let's get there first and see how price reacts. No shorts.
  • #526,242
  • Jun 9, 2020 1:26am Jun 9, 2020 1:26am
New hourly high
Attached Image (click to enlarge)
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yes yes yes
  • #526,243
  • Jun 9, 2020 1:30am Jun 9, 2020 1:30am
Quoting Mitiblotch
{quote} One thing I will never do is to go against fibs trend and fibs. Price broke the 61.8% fib retracement of the last down move. So the next target is the 78.6% which sits roughly around 2820. So let's get there first and see how price reacts. No shorts.
Used Fibs in the past. Vert powerful tool what timeframe you taking these fibs off?
Don't trade what you think. Just what you see!!!
  • #526,244
  • Jun 9, 2020 1:32am Jun 9, 2020 1:32am
Quoting Mitiblotch
{quote} One thing I will never do is to go against fibs trend and fibs. Price broke the 61.8% fib retracement of the last down move. So the next target is the 78.6% which sits roughly around 2820. So let's get there first and see how price reacts. No shorts.
Strongly agree dude
https://investizo.com/investment/view?server=1&login=2141779119
  • #526,245
  • Jun 9, 2020 1:33am Jun 9, 2020 1:33am
Quoting Theoak
{quote} Used Fibs in the past. Vert powerful tool what timeframe you taking these fibs off?
I took this off the daily. Just looking for a way to stay off the whipsaws.
  • #526,246
  • Jun 9, 2020 1:44am Jun 9, 2020 1:44am
Quoting Mitiblotch
{quote} I took this off the daily. Just looking for a way to stay off the whipsaws.
I don't stay in trades that long, but I have found these fibs show up on all timeframes and you have made me think of a new target. The last target was based on just previous highs. My new target is now 1.2726. Many Thanks
Don't trade what you think. Just what you see!!!
  • #526,247
  • Jun 9, 2020 1:50am Jun 9, 2020 1:50am
break of 2700 will take the price to daily S1.

2660
Intraday only.
  • #526,248
  • Jun 9, 2020 1:51am Jun 9, 2020 1:51am
50 minutes now of accumulation, looking to push higher at London maybe ?! long wicks at top and wont push past 2710 so far since first 5 mins FF open.... setting up here surely


edit*
spoke too soon
  • #526,249
  • Jun 9, 2020 1:55am Jun 9, 2020 1:55am
Quoting Theoak
{quote} Stupid going against the long term trend long in at 1.2712 - 1.2754 - sl 1 1.2704
loss 9 pips

showed its hand now short in at 1.2703 first target 1.2692
Don't trade what you think. Just what you see!!!
  • #526,250
  • Jun 9, 2020 1:58am Jun 9, 2020 1:58am
sell with confident to 1.26/1.25
  • #526,251
  • Jun 9, 2020 2:02am Jun 9, 2020 2:02am
Quoting Kimjoun
sell with confident to 1.26/1.25
Hey Kimjoun, would you please share some of your analysis to think so? 10x
A trader is as good as his stop loss. Understand your mistakes.
  • #526,252
  • Jun 9, 2020 2:07am Jun 9, 2020 2:07am
Feels a bit like they switched off the risk button; no wonder seeing these poor European trading figures

Good luck all!
Life is great!!
  • #526,253
  • Jun 9, 2020 2:08am Jun 9, 2020 2:08am
Quoting navk
break of 2700 will take the price to daily S1. 2660
daily pivot broken, down to S1 now.
Intraday only.
  • #526,254
  • Jun 9, 2020 2:09am Jun 9, 2020 2:09am
Quoting Theoak
{quote} loss 9 pips showed its hand now short in at 1.2703 first target 1.2692
out + 18 pips

hoping this will retrace and will short again for target 1.2677
Don't trade what you think. Just what you see!!!
  • #526,255
  • Jun 9, 2020 2:16am Jun 9, 2020 2:16am
I may have been beaten by the market today.
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SCALP WIN
  • #526,256
  • Jun 9, 2020 2:18am Jun 9, 2020 2:18am
Good Day all back to trading today.
  • #526,257
  • Jun 9, 2020 2:20am Jun 9, 2020 2:20am
Quoting Student21
{quote} Hey Kimjoun, would you please share some of your analysis to think so? 10x
here my plan
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  • #526,258
  • Jun 9, 2020 2:24am Jun 9, 2020 2:24am
I will let it drop to 1.259xx then I will target again for 1.28xx. Trade Safe.

Cheers
WARNING: This post warps space and time in its vicinity.
  • #526,259
  • Jun 9, 2020 2:24am Jun 9, 2020 2:24am
Quoting Kimjoun
{quote} here my plan {image}
Thanks for sharing! Attached is mine, so if it goes below 1.266/1.265 it might be a confirmation for a longer-term (week) short.
Attached Image
A trader is as good as his stop loss. Understand your mistakes.
  • #526,260
  • Jun 9, 2020 2:25am Jun 9, 2020 2:25am
Quoting left-brained
{quote} 1.272 is a key area to watch for a break or bounce. If we get a considerable break here we could see at least 1.268. If not then 1.278 to 1.28 is next.
The play out.
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