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Cable Update (GBPUSD)

  • #526,601
  • Jun 10, 2020 1:12am Jun 10, 2020 1:12am
Today i will take small trades as this is serious fundy day
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #526,602
  • Jun 10, 2020 1:13am Jun 10, 2020 1:13am
Quoting Mitiblotch
{quote} The market doesn't have to do anything. I get your point, though. A lot of people thought EU had to breathe and it marched them all the way to 138x from 1.07 area without breathing.
Just wanted to say that after 10 bullish day its hard to see bulls and bulls without retracing a bit, the RR is getting worst as we rise

But it can rise to 1,32/1,33 or go down to 1,21/1,22

I'm on the bear side though. I'm patient
COT: The precious data ignored
  • #526,603
  • Jun 10, 2020 1:14am Jun 10, 2020 1:14am
Quoting ongtrumvn99
BREAKOUT {image}
yes . 38 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 1006.png Size: 10 KB
SCALP WIN
  • #526,604
  • Jun 10, 2020 1:18am Jun 10, 2020 1:18am
Quoting Mitiblotch
{quote} I hope it comes good for you, but it is not a given. Anything can happen today. During the downmove to 1.14 area, Price fell over 700 pips in a single day. Just a few weeks ago.
Crash is easier than rise... I have learnt not to have too strong bias in this market but this time I don't just see how it won't drop anywhere from this current 1.2770/1.2800 area to at least 1.2300.

Lets all wait and let time decide these outcomes.
Data + Stat + Risk/Emotions Management
  • #526,605
  • Jun 10, 2020 1:19am Jun 10, 2020 1:19am
Quoting Georginson
{quote} Crash is easier than rise... I have learnt not to have too strong bias in this market but this time I don't just see how it won't drop anywhere from this current 1.2770/1.2800 area to at least 1.2300. Lets all wait and let time decide these outcomes.
any plans to get out ? 13000 and then 13200 are very close
COT: The precious data ignored
  • #526,606
  • Jun 10, 2020 1:23am Jun 10, 2020 1:23am
Quoting kuroro001
{quote} any plans to get out ? 1300 and then 13200 are very close
1300? Explain
Data + Stat + Risk/Emotions Management
  • #526,607
  • Jun 10, 2020 1:23am Jun 10, 2020 1:23am
setup
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM51006.png Size: 32 KB
SCALP WIN
  • #526,608
  • Jun 10, 2020 1:28am Jun 10, 2020 1:28am
it needs to break 2750 for short confirmation.
Intraday only.
  • #526,609
  • Jun 10, 2020 1:28am Jun 10, 2020 1:28am
Quoting Georginson
{quote} 1300? Explain
I mean you have plans to get out of your shorts or add more?

Because 1,30 and 1,32 and getting closer.... + FED tonight.

But it can head down big time for sure. For now im on this bearish side as per COT but it takes time
COT: The precious data ignored
  • #526,610
  • Jun 10, 2020 1:28am Jun 10, 2020 1:28am
Quoting Georginson
{quote} Crash is easier than rise... I have learnt not to have too strong bias in this market but this time I don't just see how it won't drop anywhere from this current 1.2770/1.2800 area to at least 1.2300. Lets all wait and let time decide these outcomes.
I believe you are an experienced trader, but this sounds like rookie talk. Crash-is-easier-than-rise was the feeling on EU and it kept rising from 07xx to 139x area. My point is that those things don't exist when the movers want it so. When EU dumped from 1.24 it didn't look back till 1.06xx area. My point in all this is, how about waiting to see some evidence instead of predicting something for those with the actual money to move price "withersoever they will" as the King James Bible would say?

Please don't get me wrong. This can crash. I just mean that one should also think of the opposite.
  • #526,611
  • Jun 10, 2020 1:29am Jun 10, 2020 1:29am
Quoting navk
it needs to break 2750 for short confirmation.
I'll add below 2730 (which mean we'll be below the 2 previous daily high + previous weekly high)
COT: The precious data ignored
  • #526,612
  • Jun 10, 2020 1:29am Jun 10, 2020 1:29am
Quoting Georginson
{quote} Crash is easier than rise... I have learnt not to have too strong bias in this market but this time I don't just see how it won't drop anywhere from this current 1.2770/1.2800 area to at least 1.2300. Lets all wait and let time decide these outcomes.
it has turned bullish in higher TF.

So, the drop may not be much. may be 1.2500.
Intraday only.
  • #526,613
  • Jun 10, 2020 1:30am Jun 10, 2020 1:30am
Quoting kuroro001
{quote} I'll add below 2730 (which mean we'll be below the 2 previous daily high + previous weekly high)
add short ?
Intraday only.
  • #526,614
  • Jun 10, 2020 1:32am Jun 10, 2020 1:32am
Quoting navk
it needs to break 2750 for short confirmation.
The bearish for several days analysis has changed now. Indeed 2750 should be broken at least on the 4hr or even daily for proper bearish continuation.
  • #526,615
  • Jun 10, 2020 1:35am Jun 10, 2020 1:35am
Quoting Mitiblotch
{quote} The bearish for several days analysis has changed now. Indeed 2750 should be broken at least on the 4hr or even daily for proper be wish continuation.
2750 needs to break for bearish candle today.
Intraday only.
  • #526,616
  • Jun 10, 2020 1:37am Jun 10, 2020 1:37am
m5
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM51006q.png Size: 33 KB
SCALP WIN
  • #526,617
  • Jun 10, 2020 1:38am Jun 10, 2020 1:38am
Quoting Theoak
{quote} Closed this trade down took me longer to do this drawing than the trade {image}
Trying to add some pics in my trades, but quiet hard to do real time. The long term is bull, but taking this short

short 1.2757 target 1.2742
Attached Image (click to enlarge)
Click to Enlarge Name: fib.png Size: 46 KB
Don't trade what you think. Just what you see!!!
  • #526,618
  • Jun 10, 2020 1:39am Jun 10, 2020 1:39am
Quoting navk
{quote} 2750 needs to break for bearish candle today.
Exactly same thoughts here. But what timeframe do you refer to? I said 4hr or even daily. Yesterday you gave a prediction to keep selling everyday and you were correct but now price has changed. So I prefer a daily closing below 2750 to be confident about selling.
  • #526,619
  • Jun 10, 2020 1:39am Jun 10, 2020 1:39am
Quoting kuroro001
{quote} I mean you have plans to get out of your shorts or add more? Because 1,30 and 1,32 and getting closer.... + FED tonight. But it can head down big time for sure. For now im on this bearish side as per COT but it takes time
I already have shorts at 1.25 and this current 1.27 level, no need to add more short for me but if anyone doesn't have any short at the moment, the risk reward is in favour to take a short at this current 1.2770 level for a first target of 1.2500 (as Navk pointed out) and second target of 1.2300 monthly open.
Data + Stat + Risk/Emotions Management
  • #526,620
  • Jun 10, 2020 1:40am Jun 10, 2020 1:40am
Quoting navk
{quote} it has turned bullish in higher TF. So, the drop may not be much. may be 1.2500.
I agree with you, I will make 1.25 my first target and see how the chart set up then for my second target of 1.2300.
Data + Stat + Risk/Emotions Management
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