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Cable Update (GBPUSD)

  • #561,261
  • Nov 26, 2020 3:56am Nov 26, 2020 3:56am
pull back to the break line
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yes yes yes
  • #561,262
  • Nov 26, 2020 3:57am Nov 26, 2020 3:57am
Quoting Catempire
{quote} Dude without prices & a timeframe... i'm not sure that chart makes any sense to anyone other than you ?? Doesn't even look like it is for cable ?
oh sorry it is eurusd. I didntt notice
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99.9% persistence
  • #561,263
  • Nov 26, 2020 3:58am Nov 26, 2020 3:58am
Quoting Catempire
"{quote} "to me they are just building up a position through this period. if she drops again to 3358 ish or similar i'll just add more" 7:30 @ 1.3378 "closing my long for now." 8:12 @ 1.3368 "oooh i think i just fecked up..." 8:18 "bought some back at my 3359 resistance which it bounced off nicely. early days for this move though." 8:42 "closed out m longs, more watching." 9am @1.3359 "just going to drift north imo. don't like but i'm buying back here." 9:18 @ 1.3368
relax - i'm ok with it. i'm a nervous long and that's a good feeling. i don't trade this way normally but this is the london open...
In tea leaves we trust!
  • #561,264
  • Nov 26, 2020 4:00am Nov 26, 2020 4:00am
Buy!....no, wait...sell!.....oops, wait......buy!!...buy more!!.....hold on....sell!!......no buy!!!!......i'm out, staying at the sidelines for now......
Lost....
  • #561,265
  • Nov 26, 2020 4:01am Nov 26, 2020 4:01am
... on my current [gmt+2] 4hr candle (just opened) the bottom of the 4hr/dly rising wedge is circa 3320
Trader with an Edge.
  • #561,266
  • Nov 26, 2020 4:01am Nov 26, 2020 4:01am
Quoting VM.
{quote} Why not cash it out? Political headwind is huge, all of these positions can be wiped out if UK-EU talks break down. https://www.theguardian.com/politics...al-brexit-deal Seriously, we are just 25 pips off big resistance, you can re-enter higher if it breaks.
Hi V,

Fair enough to cash out but I will do that if we break the bottom of the recent setup on H1. I am not a big fan of fundies as I think it could be misleading (for me)

Let’s see how it goes .. Whatever happens from here, I am good

SS
  • #561,267
  • Nov 26, 2020 4:02am Nov 26, 2020 4:02am
Quoting Headland
... on my current [gmt+2] 4hr candle (just opened) the bottom of the 4hr/dly rising wedge is circa 3320
I get the same... c13325
Que Sera
  • #561,268
  • Nov 26, 2020 4:02am Nov 26, 2020 4:02am
4hour bears made amazing achievement by taking the sw zone down.
daily S1 - 1.333 is the target.

as moty like to say.. THE DROP IS COMING.. 30-40 pips
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  • #561,269
  • Nov 26, 2020 4:04am Nov 26, 2020 4:04am
Quoting Catempire
{quote} Well done building all those positons. Cracking work all the way from the low 20's.
Thanks Cat..

trust it took lots of work, discipline and patience to build up to this level.

I am just watching to see if I can get the spike higher from these levels or cash out.

SS
  • #561,270
  • Nov 26, 2020 4:04am Nov 26, 2020 4:04am
Quoting VM.
{quote} Why not cash it out? Political headwind is huge, all of these positions can be wiped out if UK-EU talks break down. https://www.theguardian.com/politics...al-brexit-deal Seriously, we are just 25 pips off big resistance, you can re-enter higher if it breaks.
VM - I get the feeling this would work in the Tories favour as they could then pin a little bit more blame on the EU when it all goes to shit in 2021.
Que Sera
  • #561,271
  • Nov 26, 2020 4:09am Nov 26, 2020 4:09am
Quoting gespiri
Buy!....no, wait...sell!.....oops, wait......buy!!...buy more!!.....hold on....sell!!......no buy!!!!......i'm out, staying at the sidelines for now......
it's only sell from Monday
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yes yes yes
  • #561,272
  • Nov 26, 2020 4:10am Nov 26, 2020 4:10am
Quoting Maximumheigh
{quote} Good morning friends. Still on my short trades from yesterday. There is still no breakout. I will be offloading some shorts around soon.
Offloaded some shorts. We are still going down. Buyers brace up!
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  • #561,273
  • Nov 26, 2020 4:11am Nov 26, 2020 4:11am
sellers not showing up here... should be dropping like a stone imo.

https://www.tradingview.com/chart/r63FUXse/

chart is delayed 10min but will update
In tea leaves we trust!
  • #561,274
  • Nov 26, 2020 4:13am Nov 26, 2020 4:13am
Baffles me... although I can see why when peoples indicators are telling them it going higher & that is afterall what most rely on...

Is...

When the price is sat just below one of the biggest resistance points on the chart running back 13 years... the lowest trend hasn't had a 3rd test... brexit is around the corner (4 weeks away).

Why anyone wouldn't use this point to Sell with a tight AF stop loss for a potential 2000 point move back down... but instead see it as a buy ??

Even if your MT4 bull.2 indicator doesn't change its mind until it falls through 13150 surely taking a step back people can see that the odds of it pushing higher look incredibly slim ?

Or is it just the bias people are used to viewing having been up most weeks for 6 months ?

And after such an extensive bull move... if the price starts struggling at a huge resistance point, bulls start to dry up.
Que Sera
  • #561,275
  • Nov 26, 2020 4:16am Nov 26, 2020 4:16am
Quoting Moty
{quote} it's only sell from Monday {image} {image} {image}
We will see.....
It's like a hammer tapping the floor/ceiling (depending which direction you're looking)......at some point, it will go through.
Just make sure your SLs are in place.
Lost....
  • #561,276
  • Nov 26, 2020 4:20am Nov 26, 2020 4:20am
Quoting Catempire
Baffles me... although I can see why when peoples indicators are telling them it going higher & that is afterall what most rely on... Is... When the price is sat just below one of the biggest resistance points on the chart running back 13 years... the lowest trend hasn't had a 3rd test... brexit is around the corner (4 weeks away). Why anyone wouldn't use this point to Sell with a tight AF stop loss for a potential 2000 point move back down... but instead see it as a buy ?? Even if your MT4 bull.2 indicator doesn't change its mind until it falls...
This is what makes the world go round......different people have different opinions/visions/interpretations.
Let's just wait and see what happens......most of us cannot tell the future.
Lost....
  • #561,277
  • Nov 26, 2020 4:24am Nov 26, 2020 4:24am
Quoting Catempire
{quote} VM - I get the feeling this would work in the Tories favour as they could then pin a little bit more blame on the EU when it all goes to shit in 2021.
Yes, they would love EU walk away from negotiations. But they would blame EU in any circumstances.
  • #561,278
  • Nov 26, 2020 4:24am Nov 26, 2020 4:24am
Quoting Catempire
Baffles me... although I can see why when peoples indicators are telling them it going higher & that is afterall what most rely on... Is... When the price is sat just below one of the biggest resistance points on the chart running back 13 years... the lowest trend hasn't had a 3rd test... brexit is around the corner (4 weeks away). Why anyone wouldn't use this point to Sell with a tight AF stop loss for a potential 2000 point move back down... but instead see it as a buy ?? Even if your MT4 bull.2 indicator doesn't change its mind until it falls...
I understand your reasoning but we cannot keep doing ‘Ping-Pong’ forever.. Yes I agree we could be facing a minor sell since we so close to the weekly 100% level.. However, for some reasons, I think we likely to break above the 100% level to create a new trading level.. (if we break above 100% aggressively, then it becomes support for higher price)

December is just like Friday and we can both agree that the year has been a bullish one..

On the H1, previous candle formed an ‘in on kneck’ (Typical setup for a continuation)and in this case, bull.. I am watching closely tho..

SS
  • #561,279
  • Nov 26, 2020 4:25am Nov 26, 2020 4:25am
Quoting Catempire
Baffles me... although I can see why when peoples indicators are telling them it going higher & that is afterall what most rely on... Is... When the price is sat just below one of the biggest resistance points on the chart running back 13 years... the lowest trend hasn't had a 3rd test... brexit is around the corner (4 weeks away). Why anyone wouldn't use this point to Sell with a tight AF stop loss for a potential 2000 point move back down... but instead see it as a buy ?? Even if your MT4 bull.2 indicator doesn't change its mind until it falls...

it's a fair point you make about the current fundie 'mood music' and price's inability (thus far at least) to break northwards of that major desc t/line to say nothing of the prev sw hi's to 3482/3514, but the technical position 1hr - weekly is still bullish and it points to a break upside of at least that major descending t/line....whether this will actually happen no-one knows, and whether the market as a whole are reading that mood music the same as you at this moment -sufficient to start a significant sell-off also remains to be seen.

The rising wedge on dly is a bearish pattern I guess ? dly below.
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Trader with an Edge.
  • #561,280
  • Nov 26, 2020 4:27am Nov 26, 2020 4:27am
Quoting Maximumheigh
{quote} That is how we roll! You need the sellers to bring it down for you to buy, don't you?
yes I do

hahaha!!
Le$$ I$ More
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