Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#534,861
Jul 11, 2020 2:16am Jul 11, 2020 2:16am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

still bullish
we need at least 1 more daily low , last daily low is 1.25661
even if you miss the entry on the break out , and get get into
the pull back , you only lose 30 pips of a move of 200 , and the most
impotent thing you don't get into false move

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yes yes yes

#534,862
Jul 11, 2020 3:48am Jul 11, 2020 3:48am

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

gbp is bearish h1/h4/daily, but bullish weekly with potential towards 3100/3200

Sell short term, buy long term?

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COT: The precious data ignored

#534,863
Jul 11, 2020 3:53am Jul 11, 2020 3:53am

joesherwood
Joined Oct 2019 | Status: Trader | 1,245 Posts

Quoting elbert3

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{quote} your becoming wise now

Ignored

#534,864
Jul 11, 2020 4:04am Jul 11, 2020 4:04am

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

Short dollar....watch out

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COT: The precious data ignored

#534,865
Jul 11, 2020 4:42am Jul 11, 2020 4:42am

trumps
Joined Mar 2020 | Status: Trader | 3,499 Posts

Quoting Headland

Disliked

I think the question for the next few weeks is whether price has settled into the 'customary' summer range or whether these extraordinary times we live in fundamentally will see more sustained trends on the longer t/f's? I, like everyone else do not know the answer to this and will continue to trade what I see -whatever that is - consistent with my edge. Prediction is futile, and not having a pre-conceived idea actually sets you free. I am quite relaxed with the fact that I do not know what price discovery will do next in the next few seconds, minutes,...

Ignored

I agree, once a pre-conceived idea has set in, and I think even more so when we put that preconceived idea out there as a challenge to someone else's idea, our egos and desire to be right, can cloud our judgement of what is happening in real time, right in front of us.

Good post, Thanks.

Compulsions can be hard to resist

#534,866
Jul 11, 2020 4:44am Jul 11, 2020 4:44am

trumps
Joined Mar 2020 | Status: Trader | 3,499 Posts

Oh, now Headland has deleted his post

Compulsions can be hard to resist

#534,867
Jul 11, 2020 4:49am Jul 11, 2020 4:49am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

Quoting trumps

Disliked

Oh, now Headland has deleted his post

Ignored

lol.. sorry about that - I meant to just edit it and it and messed it up so deleted it.

Trader with an Edge.

#534,868
Jul 11, 2020 4:53am Jul 11, 2020 4:53am

trumps
Joined Mar 2020 | Status: Trader | 3,499 Posts

Quoting Headland

Disliked

{quote} lol.. sorry about that - I meant to just edit it and it and messed it up so deleted it.

Ignored

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Compulsions can be hard to resist

#534,869
Jul 11, 2020 5:05am Jul 11, 2020 5:05am

navk
Joined Oct 2010 | Status: Trader | 21,479 Posts

h4 is showing bearish.

any swing upside can be sold as per my system, May be around 1.2715?

Daily is bullish

Intraday only.

#534,870
Jul 11, 2020 5:07am Jul 11, 2020 5:07am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

W/E analysis cont...

Just a quick look at 2hr and 1hr as below.

2HR:
This t/f remains in a 'general' uptrend (per major swings on a t/f although there may be intervening fractals in a swing) although it has printed a H now @ 2663 after a HH (2669,) L, LH, and LL at 2566. This 2663 fractal H is obviously a lower overall swing than the 2669 hi. Pretty bearish 'dark cloud cover' candle down from that 2663 H followed by a doji and a bearish bodied spinning top close.

1HR:
Again price is still in a general uptrend, the last few fractal swings starting @ 2566 being LL, H, HL, HH, HL, LH and what will when it becomes fractal be a L. Price has found some support in the prev 1hr/4hr sw hi zone = prev res that likely extends down to around the 50% of the 2566-2663 move up.

NB: Ignore the daily and weekly pivots on 2hr and 1hr charts below they will reset on market open to the new day/week.

2512-09 is the next 3 fib cluster to the downside and of course 2508 is a prev 1hr/2hr/4hr sw lo zone which was a prev sw hi zone that acted as support on a retest from above it.

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Trader with an Edge.

#534,871
Jul 11, 2020 5:14am Jul 11, 2020 5:14am

navk
Joined Oct 2010 | Status: Trader | 21,479 Posts

the trading for me on Monday can be like this.

Buy around 2615 and 2595.

If it falls further, mt stop will be around 2570.

Target can be 2664 and 2715

Intraday only.

#534,872
Jul 11, 2020 5:17am Jul 11, 2020 5:17am

navk
Joined Oct 2010 | Status: Trader | 21,479 Posts

Quoting Wavegarrick

Disliked

{quote} No, you do not understand. By locking in your profit means to move your trail stop to breakeven and a couple of pips above so that if your trail stop gets taken out you still come out with a couple of pips in profit. If your trail does not get taken out leave it and forget about it. By opening a trade in the opposite direction you have effectively closed your trade. That is also locking in your profits as you say. It means nada. You still set your breakeven and a couple of pips profit and of course your usual stop loss. Either way one of...

Ignored

For a daily trader, trailing stop not suitable IMO.

It may be suitable for position traders.

Intraday only.

#534,873
Jul 11, 2020 5:32am Jul 11, 2020 5:32am

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

Quoting navk

Disliked

the trading for me on Monday can be like this. Buy around 2615 and 2595. If it falls further, mt stop will be around 2570. Target can be 2664 and 2715

Ignored

Buys below 2610 (m15) or 2580 (m30/h1) for me, upside target if we reach those buys may be 2645/55

If h4 turns around here without making highs, target would be around 2440

still looking to buy strong dips as weekly is turning bullish (to me)

GL for next week

COT: The precious data ignored

#534,874
Jul 11, 2020 5:40am Jul 11, 2020 5:40am

trumps
Joined Mar 2020 | Status: Trader | 3,499 Posts

Quoting kuroro001

Disliked

Short dollar....watch out {image}

Ignored

This means main players are beginning to buy the $?
This is $ bullish?

Compulsions can be hard to resist

#534,875
Jul 11, 2020 5:53am Jul 11, 2020 5:53am

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

Quoting trumps

Disliked

{quote} This means main players are beginning to buy the $? This is $ bullish?

Ignored

Dumb money/retailers are selling the dollars, dealers are the counterpart buying the dollars.

So yes this is bullish dollar

The 2 previous times it was bullish, here is what happened

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COT: The precious data ignored

#534,876
Jul 11, 2020 6:09am Jul 11, 2020 6:09am

trumps
Joined Mar 2020 | Status: Trader | 3,499 Posts

Quoting kuroro001

Disliked

{quote} Dumb money/retailers are selling the dollars, dealers are the counterpart buying the dollars. So yes this is bullish dollar The 2 previous times it was bullish, here is what happened {image}

Ignored

The dealers bought the lows which is good for them, but then very quickly turned bearish just as the $ turned strongly bullish.
The dealers must have had big losses during that period if the retailers were buying during that period.

Compulsions can be hard to resist