Cable Update (GBPUSD)

Quoting Lock

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{quote} Yes, GB sessions established a weekly high during 11.18 at 32975: I'm speaking about GB sessions hours before preUS open. If you consider only GB sessions that one is current GB weekly high. Now, if you consider current week range in relation to previous GB weekly range you will see it is inside it. This means that actually we are in a weekly balance. Balance rules apply: price can remain into balance for a while and then attempt above or below. If for instance it will attempt above, it can succeed or fail. If it fails generally (balance...

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Quoting Roszey

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{quote} All clear now. I guess this chart will explain it further. {image}

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Quoting Lock

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{quote} Yes and btw right above your 3314 there is the notorious 3319back to back GB highs from September: this is the exact reason we saw 3 liquidations in a raw any time we tried to take it out. The first one occurred at 3314 GB November high), the second one during this week occurred during 11.18 (Pit November high) at 3312 and then today GB attempted again and failed at 32925... But as written current GB weekly high is 32975, and so on..

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Quoting Roszey

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{quote} Good observation Sir. For me, i think prices are stuck in the Daily SW Zone. September OP will be my target for the buy before i will consider looking for selling opportunities. {image}

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Quoting Lock

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{quote} As written pit can or cannot attempt a very risky rally above GB weekly high 32975: if it will succeed next week we can see GB open out of weekly balance and at that moment in time we will know if the game was only to take out 3319 or something more. If instead pit will not attempt above 32975 or if it will fail above it, next week GB can open inside current weekly balance and we will have to see which side of the balance it will want to test first. Also we have Sunday overnight that can do the job test for GB and/or pit.

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Quoting Roszey

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{quote} True. Let see how today will close.

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Quoting Roszey

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{quote} True. Let see how today will close.

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Quoting gespiri

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{quote} Actually, if we look at the weekly and daily and assume that it will close at these levels, it's clear to me that this will attempt to hit your levels next week (with a good chance to top 1.3428). However, I would also expect a retracement around 1.3250 - 1.3270 before going up.

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Quoting OnlineAddict

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Hoping for a strong bull tomorrow, which would end this trend for the next couple of months. Ideally strong into the close and above 3300.

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Quoting OnlineAddict

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{quote} {quote} Why do people assume bullish candle on friday is bullish into the next week or weeks? To me its the exact opposite.

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Quoting OnlineAddict

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{quote} {quote} Why do people assume bullish candle on friday is bullish into the next week or weeks? To me its the exact opposite.

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Quoting gatenio

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{quote} pure gamble gu.. cant trade it

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