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Cable Update (GBPUSD)

  • #554,541
  • Oct 23, 2020 1:23am Oct 23, 2020 1:23am
i am long to pivot line
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yes yes yes
  • #554,542
  • Oct 23, 2020 1:28am Oct 23, 2020 1:28am
G/M, 9 consecutive 4hr bearish bodied candle closes now as price tests deeper into the prev 4hr sw hi = prev res = pot rbs zone to 3028, The current dly lo is @ Dly S1/50% 2930-3176.
Trader with an Edge.
  • #554,543
  • Oct 23, 2020 1:29am Oct 23, 2020 1:29am
Will we see this when London opens?

Retail sales news are crazy good.
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I will tear the world apart for you.
  • #554,544
  • Oct 23, 2020 1:39am Oct 23, 2020 1:39am
... final day of the trading week and the weekly candle could still close as a bullish engulfing ? Time will tell. 4hr is below. Looks like a classic pullback doesn't it ?
Attached Image
Trader with an Edge.
  • #554,545
  • Oct 23, 2020 1:40am Oct 23, 2020 1:40am
Quoting Barnell
Will we see this when London opens? Retail sales news are crazy good. {image}
up up and away we go
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yes yes yes
  • #554,546
  • Oct 23, 2020 1:45am Oct 23, 2020 1:45am
As mentioned before an upward spike could be likely
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Insane in the Brain..
  • #554,547
  • Oct 23, 2020 1:45am Oct 23, 2020 1:45am
Quoting Moty
{quote} up up and away we go
To be honest, I'm very surprised GBP bulls didn't rampage on the back of the awesome retail news (MoM).

Previous was 0.9%, forecast was 0.4% and result was a whooping 1.5%!
I will tear the world apart for you.
  • #554,548
  • Oct 23, 2020 1:53am Oct 23, 2020 1:53am
I dont really see why everyone is being bull, look at the chart, clearly bearish! And is screaming for further downside.

I expect a small retrace once we touch 1.3010, maximum towards 1.3075 before the continuation
  • #554,549
  • Oct 23, 2020 1:53am Oct 23, 2020 1:53am
Quoting Barnell
{quote} To be honest, I'm very surprised GBP bulls didn't rampage on the back of the awesome retail news (MoM). Previous was 0.9%, forecast was 0.4% and result was a whooping 1.5%!
yup that and a trade deal with Japan should have pushed GU up nicely maybe it will after UK opens
Insane in the Brain..
  • #554,550
  • Oct 23, 2020 1:58am Oct 23, 2020 1:58am
Quoting BeeTogether
{quote} yup that and a trade deal with Japan should have pushed GU up nicely maybe it will after UK opens
Split my positions into cable and dragon longs. Let's see what happens when London opens!
I will tear the world apart for you.
  • #554,551
  • Oct 23, 2020 2:19am Oct 23, 2020 2:19am
Quoting fxmasterdxb
I dont really see why everyone is being bull, look at the chart, clearly bearish! And is screaming for further downside. I expect a small retrace once we touch 1.3010, maximum towards 1.3075 before the continuation
because the significant daily candle on Wednesday , it will effect price and causes it to go to its high at least , if not higher
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yes yes yes
  • #554,552
  • Oct 23, 2020 2:22am Oct 23, 2020 2:22am
Prices are now the 1hr zone. It will be interesting to see how the market will react in that zone.
Fingers crossed
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Le$$ I$ More
  • #554,553
  • Oct 23, 2020 2:23am Oct 23, 2020 2:23am
Quoting mplin
Hi to all! I'm a new member and i'm trading GBPUSD. At moment i'm short with TP 1.305
.305 done, but early to enter long
  • #554,554
  • Oct 23, 2020 2:25am Oct 23, 2020 2:25am
Quoting fxmasterdxb
I dont really see why everyone is being bull, look at the chart, clearly bearish! And is screaming for further downside. I expect a small retrace once we touch 1.3010, maximum towards 1.3075 before the continuation

On the contrary...with 9 consecutive 4hr bearish candle closes and the regular bullish div to 30min and 2hr hidden bullish div @ a 4hr potential res become supp [rbs] zone/Dly S1 and a fib etc I thought it was 'screaming' for some upside for howsoever long, particularly in light of good Uk data. re retail sales. A hi-prob trade for me but then I am a scalper (+.)
Trader with an Edge.
  • #554,555
  • Oct 23, 2020 2:29am Oct 23, 2020 2:29am
Quoting Moty
{quote} because the significant daily candle on Wednesday , it will effect price and causes it to go to its high at least , if not higher {image} {image} {image}
Yes 1 day candle only, look left, it took the pa 15 days to drop from 1.348 to 1.267, 800 pips and then it took 21 days to go up to 1.317 which is 500 pips only, now you tell me is this a bullish or bearish flag?
  • #554,556
  • Oct 23, 2020 2:33am Oct 23, 2020 2:33am
Quoting Headland
{quote} On the contrary...with 9 consecutive 4hr bearish candle closes and the regular bullish div to 30min and 2hr hidden bullish div @ a 4hr potential res become supp [rbs] zone/Dly S1 and a fib etc I thought it was 'screaming' for some upside for howsoever long, particularly in light of good Uk data. re retail sales. A hi-prob trade for me but then I am a scalper (+.)
A small pull back like what is happening now yes, maybe another one after reaching 1.3010 yes, but beyond this i cant see anything else
  • #554,557
  • Oct 23, 2020 2:34am Oct 23, 2020 2:34am
Quoting Barnell
{quote} Split my positions into cable and dragon longs. Let's see what happens when London opens!
Ka-ching!
I will tear the world apart for you.
  • #554,558
  • Oct 23, 2020 2:37am Oct 23, 2020 2:37am
Quoting fxmasterdxb
{quote} A small pull back like what is happening now yes, maybe another one after reaching 1.3010 yes, but beyond this i cant see anything else
...we all read things differently and it depends on what t/f's we are viewing. For eg on dly per fractal analysis and the 20/50/100 ema's which are crossed up, there has been 2 x HL's and a HH now so it is looking more bullish than bearish per these measures although currently not the most convincingly so on this t/f I would say. Wkly remains in a fractal uptrend with 2 x HL's a HH, and a 3rd HL. Dly below.
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Trader with an Edge.
  • #554,559
  • Oct 23, 2020 2:50am Oct 23, 2020 2:50am
Quoting Not-KPMG
{quote} If you're new.... you should know GU is the most fake, dirty , lying currency pair you can find. Maybe START something easier??
New member, not a rookie trader Anyway close it @.30586
  • #554,560
  • Oct 23, 2020 2:53am Oct 23, 2020 2:53am
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