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Cable Update (GBPUSD)

  • #538,681
  • Jul 28, 2020 6:43am Jul 28, 2020 6:43am
M15 chart

want to see the TL broken and price go into the box
Then Swing Long.
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in wondering about yourself, you forgot what you came here to be part of
  • #538,682
  • Edited 7:50am Jul 28, 2020 6:59am | Edited 7:50am
Anythings is possible but not anything is probable...
There a limit to this death by a thousand cuts type current trend to the bears ,I would put it at or before 1.32
You have to be careful selling into the open, since it opened over a major number and went straight up, in a bullish monthly.It is highly over-brought which I use the boll band to determine.


with TL's- carrying on from what Neil suggested that everyone will have different lines ,
it's not possible if you keep to the simple rule of the tl.
You can only have another TL that I could draw, the same.

Be careful with the black line as its not valid .Price flew through it no problem .I would be very interested to see go back to it that line maybe it will not respect it like you'd think.
When price came up to it the first time, many bent that line ,while I pointed out at the time, it's better to know it did not hit first time. In-fact the worst thing for the GBP is that line was respected to the T.
It's a juicy line that made a lot of sense but when it goes back next time like last week, it flew through.


Consolidation is seen & its got over 100pip to play in, if you say that open won't change easy
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #538,683
  • Jul 28, 2020 6:59am Jul 28, 2020 6:59am
usd, on the strong side on the meter..
now he meet the hourly tl..
my bet, will drop again.
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  • #538,684
  • Jul 28, 2020 7:04am Jul 28, 2020 7:04am
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yes yes yes
  • #538,685
  • Jul 28, 2020 7:10am Jul 28, 2020 7:10am
Quoting Bones
Anythings is possible but not anything is probable... There a limit to this death by a thousand cuts type trend to the bears ,I would put it at or before 1.32 You have to be careful selling into the open, since it opened over a major number and went straight up, in a bullish monthly.It is highly over-brought which I use the boll band to determine. with TL's- carrying on from what Neil suggested that everyone will have different lines , it's not possible if you keep to the simple rule of the tl. You can only have another TL that I could draw, the...
Really nice analysis
Mine looks like yours
just a question... why the trend line is not valid?
Thanks
  • #538,686
  • Jul 28, 2020 7:17am Jul 28, 2020 7:17am
Because market never confirmed it with 3 touch unless you bent the line.

Quoting HBN08
{quote} Really nice analysis Mine looks like yours just a question... why the trend line is not valid? Thanks
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #538,687
  • Jul 28, 2020 7:21am Jul 28, 2020 7:21am
Quoting Bones
Because market never confirmed it with 3 touch unless you bent the line. {quote}
Oh ok, i have the same trend line from the W chart
but yes is kinda bended..will still let it my chrt it might be a future suport trend line letss see
  • #538,688
  • Edited 7:51am Jul 28, 2020 7:23am | Edited 7:51am
yea I always say that ,the market should confirm if thats true, I'm more than happy to say now its not good as I did before it broke up.
Price isn't respecting that line even though it made a lot of sense
Quoting HBN08
{quote} Oh ok, i have the same trend line from the W chart but yes is kinda bended..will still let it my chrt it might be a future suport trend line letss see
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #538,689
  • Jul 28, 2020 7:27am Jul 28, 2020 7:27am
Waiting for break confirm
I belive price will go to 1.29500
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  • #538,690
  • Jul 28, 2020 7:30am Jul 28, 2020 7:30am
Quoting forexdhaka
{quote} i don't think gold is going below 1900
Probably not but i belive it will later , even if just to make abigger pull but i see it coming down
  • #538,691
  • Jul 28, 2020 7:32am Jul 28, 2020 7:32am
I say again to George you cannot rely on average ranges to call anything outright ,it is valid approach for sure -
but it's like a confluence approach, with something more solid.
The market is proving this to be true, according to George this is set to be the biggest July range in 10 years so he takes blind entries.
Because it hits a timed normal range doesn't mean it will reverse to the other end ,I remember cable hitting over 200 a day last year ,when many posted it's overextended.
But the next day it continued.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #538,692
  • Jul 28, 2020 7:37am Jul 28, 2020 7:37am
Quoting Bones
I say again to George you cannot rely on average ranges to call anything outright ,it is valid approach for sure - but it's like a confluence approach, with something more solid. The market is proving this to be true, according to George this is set to be the biggest July range in 10 years so he takes blind entries. Because it hits a timed normal range doesn't mean it will reverse to the other end ,I remember cable hitting over 200 a day last year ,when many posted it's overextended. But the next day it continued.
historic stats no longer hold in the year of the virus
Everything has changed
in wondering about yourself, you forgot what you came here to be part of
  • #538,693
  • Jul 28, 2020 7:39am Jul 28, 2020 7:39am
trying to play with that old Motys Chanel, thing it respecting it, and uptrend, so buying, dont like to trade in trending markets, but it should be easiest way, buy the dip..
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  • #538,694
  • Jul 28, 2020 7:42am Jul 28, 2020 7:42am
200 pips is a lot for cable ,you can't think right ill short it on that for a fact ,
those 3 candles are 200 or more
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #538,695
  • Jul 28, 2020 7:42am Jul 28, 2020 7:42am
... just back updating supp/res charts...didn't miss much since my session ended....still in same range.....intraday dips getting bought though still - so far....I hope it doesn't go above 2904 as I will have to adjust all my fibs lol ! The 1hr bullish hidden div mentioned pre 0700am London time may well play out for a new trend hi ? - came at 2 x fibs ie 50% 2807-2904 and 23.6% 2643-2904, best entry timed on the 5min regular bullish div set-up...1hr below.
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Trader with an Edge.
  • #538,696
  • Jul 28, 2020 7:43am Jul 28, 2020 7:43am
i have not seen any reason to go short..last 12hrs of today still showing indecision with that prio trend is still bullish toward 1.30....if you cant handle much draw down dont short gu yet ..peace
MY OPINION NOT FINANCIAL ADVISE
  • #538,697
  • Jul 28, 2020 7:46am Jul 28, 2020 7:46am
one reason price taking it easy,
Moty had a birthday yesterday ( and he shorting )

wish him well.


happy birthday bro
  • #538,698
  • Jul 28, 2020 7:48am Jul 28, 2020 7:48am
Quoting gatenio
one reason price taking it easy, Moty had a birthday yesterday ( and he shorting ) wish him well. happy birthday bro

bday without cake? or drinks?
MY OPINION NOT FINANCIAL ADVISE
  • #538,699
  • Jul 28, 2020 7:50am Jul 28, 2020 7:50am
Quoting donfriday
{quote} bday without cake? or drinks?


and a new shoes
  • #538,700
  • Jul 28, 2020 7:54am Jul 28, 2020 7:54am
Quoting Stefan90csk
Retest of the top of the today and yesterday before the big drop. 1.28950 > 1.26500
Target hit - now we wait.

P.s I was hoping that after I got my badge, more people will start looking into different views, not necessarily mine, but widen up their view, but I guess if you are not in the 1%, no matter how off the chart you can be - people still follow you blindly.
Patience and Discipline.
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