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Cable Update (GBPUSD)

  • #529,021
  • Jun 18, 2020 7:36am Jun 18, 2020 7:36am
1.24220 is area it has to touch, only area that makes sense to me to bounce off. It has broken all liquidity levels and that is next level to test.
After that tap I am anticipating 1.25190 to finish the day with a bull continuation for friday
That push earlier was a nice retest of previous broken level that was not tested again. Would like to see London close :1030ish est buys will start coming in
Market wants to keep balance
"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
  • #529,022
  • Jun 18, 2020 7:41am Jun 18, 2020 7:41am
Quoting Vincent1
{quote} Correct That's why exist "false breakout"/ "bulls/bears trap"....let them get trapped . They are the best signal for the change in the trend Let's wait
I just ran the strategy tester in the back garden
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  • #529,023
  • Jun 18, 2020 7:42am Jun 18, 2020 7:42am
Quoting harold1
{quote} whatever you think it is. lol. we have different perception of what we see.. now.. i can see rejection of that trendline,.. maybe later it will be break or not... but right now... its rejected.
Good Luck
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  • #529,024
  • Jun 18, 2020 7:42am Jun 18, 2020 7:42am
Got off my short at 2472. I guess I should have held for more pip. But profit is still profit.
  • #529,025
  • Jun 18, 2020 7:45am Jun 18, 2020 7:45am
How much violation can the average retail trader take?
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  • #529,026
  • Jun 18, 2020 7:46am Jun 18, 2020 7:46am
Quoting SFundamental
{quote} 1.2450 - they bought from the London open …..-

1.2450 still in play for defence
After that 1.2250 is the main one.
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #529,027
  • Jun 18, 2020 7:47am Jun 18, 2020 7:47am
Quoting Georginson
{quote} 1.2480 should have been seen yesterday but for the smallness of the range, now it's back below weekly opening. Weekly range levels to be tested again as the market will he volatile
Lower part of the weekly range now tested as anticipated... Now allow some pull back to 1.2490/1.2520 area for a further sell or a buy from 1.2435 level for today only...
Data + Stat + Risk/Emotions Management
  • #529,028
  • Jun 18, 2020 7:47am Jun 18, 2020 7:47am
Quoting Siame
Price back above Daily Open should support my Bullish bias. Below Weekly Open, Bearish sentiment continues. On the sidelines.
Some buying around Monday's Low. Perhaps collecting orders for another leg down.

Watching for a close below Monday's Low. I'm expecting a trigger of stoplosses.

NY session in a bit.
  • #529,029
  • Jun 18, 2020 7:47am Jun 18, 2020 7:47am
Quoting mkvy
{quote} It clearly broke
Its gone, may get a bounce off 1.2420 area up to 1.25 for the retest, but pound is history to below 1.2 by my reckoning.
Compulsions can be hard to resist
  • #529,030
  • Jun 18, 2020 7:49am Jun 18, 2020 7:49am
Quoting mkvy
How much violation can the average retail trader take? {image}
Most get financially violated every week.
Compulsions can be hard to resist
  • #529,031
  • Jun 18, 2020 7:49am Jun 18, 2020 7:49am
I try to be useful...
price has dropped from 1.2550, banks, thanks to news have brought price another time to this area and it has dropped again to this weekly low (demand level).
Now what I expect is a retrace to 1.2505 (supply area) and a final drop to 1.2405 (H4 demand level).
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  • #529,032
  • Jun 18, 2020 7:57am Jun 18, 2020 7:57am
Quoting trumps
{quote} Most get financially violated every week.
750 Billion GBP of violation in the form of QE
  • #529,033
  • Jun 18, 2020 8:03am Jun 18, 2020 8:03am
Quoting Theoak
{quote} I think we have to target 1.2439 don't we?
Now next target is 1.2422 then the big one 1.2402
Don't trade what you think. Just what you see!!!
  • #529,034
  • Jun 18, 2020 8:03am Jun 18, 2020 8:03am
Why has it gone so quiet now?
  • #529,035
  • Jun 18, 2020 8:03am Jun 18, 2020 8:03am
This has to happen!!!!!
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"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
  • #529,036
  • Jun 18, 2020 8:03am Jun 18, 2020 8:03am
Quoting Almo2312
Thursday news will give the ton.
as i thought ..

my shorts from 1.2680 are very happy

lol

take care
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #529,037
  • Jun 18, 2020 8:06am Jun 18, 2020 8:06am
Quoting Almo2312
{quote} as i thought .. my shorts from 1.2680 are very happy lol take care
Good you got the foresight
Data + Stat + Risk/Emotions Management
  • #529,038
  • Jun 18, 2020 8:07am Jun 18, 2020 8:07am
Quoting knkie
{quote} i just love it when a 70 pip drop is called a bear trap lol
Still stuck in the bear trap!!!
Don't trade what you think. Just what you see!!!
  • #529,039
  • Jun 18, 2020 8:08am Jun 18, 2020 8:08am
Quoting ongtrumvn99
short and target 1.2382 , target 2 : 1.2297 {image}
Today GU has taken my pretty much pips. But everything's fine. The market wants to beat me. Hope tomorrow will be good.
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SCALP WIN
  • #529,040
  • Jun 18, 2020 8:09am Jun 18, 2020 8:09am
We are parked at dailys3...now or never for the bounce
COT: The precious data ignored
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