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Cable Update (GBPUSD)

  • #552,881
  • Oct 13, 2020 7:32pm Oct 13, 2020 7:32pm
Apparently this thread is very interesting because there is a lot of very quality analysis from experts and provides a lot of information.

As a day trader, I cannot determine the direction I will go through today because my indicators are still expecting important information. I was forced to wait for the opportunity even though my heart wanted to keep buying.

Happy trading on the market today and I wish you all good luck.
  • #552,882
  • Oct 13, 2020 8:05pm Oct 13, 2020 8:05pm
Buy tp 29845
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  • #552,883
  • Oct 13, 2020 9:52pm Oct 13, 2020 9:52pm
Interesting daily channel...
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Maadik Hugiis. IQ 69.
  • #552,884
  • Oct 13, 2020 10:47pm Oct 13, 2020 10:47pm
Long for today, keep watching daily pivot maybe couldnt break up and that is lvl 61.6 from fibo monthly.
When price broke up pivot we will see lvl 36.2 from fibo monthly (1.31760)
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  • #552,885
  • Oct 13, 2020 10:58pm Oct 13, 2020 10:58pm
to me, looks like the bears showed themselves yesterday, I might try a short near 2950 and look for 2900....
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Get the Lag out
  • #552,886
  • Oct 13, 2020 11:07pm Oct 13, 2020 11:07pm
Quoting ZeroLag
to me, looks like the bears showed themselves yesterday, I might try a short near 2950 and look for 2900.... {image}
True bro, but remember GbpUsd is full off manipulated
  • #552,887
  • Oct 13, 2020 11:29pm Oct 13, 2020 11:29pm
Buy rsi oversell ..need retracement 1st for indicator adjustment
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  • #552,888
  • Oct 14, 2020 12:09am Oct 14, 2020 12:09am
It's another day and everyone is rushing into a buy, but have you all stopped to ask yourself why the market sold badly yesterday? what if what sold the market is still around to drive it further downward ? trading is 2 percent analysis 98 percent thinking.
  • #552,889
  • Oct 14, 2020 12:13am Oct 14, 2020 12:13am
Quoting epzero
It's another day and everyone is rushing into a buy, but have you all stopped to ask yourself why the market sold badly yesterday? what if what sold the market is still around to drive it further downward ? trading is 2 percent analysis 98 percent thinking.
Analysis is still thinking, therefore trading is 100% thinking
Fortune favors the brave.
  • #552,890
  • Oct 14, 2020 12:18am Oct 14, 2020 12:18am
Quoting mngnglkl
{quote} Analysis is still thinking, therefore trading is 100% thinking
analysis in the sense that your indicators can be telling you to buy but then you stop to think of why the market haven't been able to buy all night and still falling by the seconds
  • #552,891
  • Oct 14, 2020 12:22am Oct 14, 2020 12:22am
Im thinking 2830 - 2840 would be a level to start buying ...
  • #552,892
  • Oct 14, 2020 12:24am Oct 14, 2020 12:24am
Friday low has been broken with a SL of 30pips one can take a sell to first target 1.2850 and second target 1.2780
  • #552,893
  • Oct 14, 2020 12:35am Oct 14, 2020 12:35am
another push to the bottom.. looking for retrace so i can sell haha.. right now my bias change to the bear side.. but who knows same thing happen when bull side think they take control annndd price drop, can this happen to bear side too? hmm.. interesting
Trade what you see, not what you think.. react and stay sharp..
  • #552,894
  • Oct 14, 2020 12:36am Oct 14, 2020 12:36am
Im buying cause my fibo hit 423.1 rsi h4 oversold..this my technical setup ..sometime we loses in trade it normal ..
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  • #552,895
  • Oct 14, 2020 12:43am Oct 14, 2020 12:43am
Quoting Mattiabarso
{quote} was
Yeah was
Compulsions can be hard to resist
  • #552,896
  • Oct 14, 2020 12:50am Oct 14, 2020 12:50am
Quoting epzero
Friday low has been broken with a SL of 30pips one can take a sell to first target 1.2850 and second target 1.2780
Epzero , You seem very skilled even without a red flag.
We really hope to see you make a call with a clear stop loss and target that we would all really admire your skills if that target is reached within a few hours.
Thanks.
  • #552,897
  • Oct 14, 2020 12:51am Oct 14, 2020 12:51am
I have removed my TP from yesterday’s trade. SL set to plus 50 pips but looking at potentially seeing cable drop below 12850
Insane in the Brain..
  • #552,898
  • Oct 14, 2020 12:52am Oct 14, 2020 12:52am
Quoting shahab8b
{quote} The way I look at it, the daily chart remains in an uptrend above 1.2870. But today's bearish engulfing candle is quite ugly. {image}
Your chart is as usual very simple and beautiful. I would not dare arguing with you from a technical perspective, but fundamentals are incredibly bad for pound right now (Brexit crunch time, unemployment, coronavirus => lockdown, negative rate talk). Dollar showed some weakness as well, but it was mainly on the pre-election stimulus hopes which now faded. I can't really see an uptrend continue in such circumstances.
  • #552,899
  • Oct 14, 2020 1:00am Oct 14, 2020 1:00am
Looks like a trend line break and channel in play
with support below
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Compulsions can be hard to resist
  • #552,900
  • Oct 14, 2020 1:11am Oct 14, 2020 1:11am
Quoting bale
{quote} Epzero , You seem very skilled even without a red flag. We really hope to see you make a call with a clear stop loss and target that we would all really admire your skills if that target is reached within a few hours. Thanks.
trading forex is risky, so having a win to loss ratio is needed, the move from yesterday isn't over yet so why not go with it and have a SL just incase the market wants to reverse, my sell entry is at 1.2918 to my first target 1.2850 and second target 1.2780, SL is 1.2946. so worst case you loss 27 pips and stand to gain 66pips or 140pips.

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