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Cable Update (GBPUSD)

  • #562,361
  • Dec 1, 2020 3:26am Dec 1, 2020 3:26am
Quoting Ehsank78
Have the bears arrived?
not yet! we have double top at 3406-08, so it can be touched again later
Always Defend your investment 1775
  • #562,362
  • Dec 1, 2020 3:28am Dec 1, 2020 3:28am
close below 33750 garantees more shorts.. In the next 45 minuts
99.9% persistence
  • #562,363
  • Dec 1, 2020 3:29am Dec 1, 2020 3:29am
Quoting gatenio
{quote} what? who are you? A demon took over Moty
i out from position in the gu , so i can see clearer
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yes yes yes
  • #562,364
  • Dec 1, 2020 3:31am Dec 1, 2020 3:31am
Quoting OnlineAddict
Frankfurt fakey...careful...London might reverse this within less than a hour.
Looks like bulls got fooled again. This could go to 1.35 and bears were still in charge...just collecting orders...
Everyone can see the chart, but only a few can actually read it.
  • #562,365
  • Dec 1, 2020 3:31am Dec 1, 2020 3:31am
Quoting Hunterrus84
{quote} not yet! we have double top at 3406-08, so it can be touched again later
Are you expecting a triple top? Otherwise, you should be playing for the bulls. I'm not sure why you would think a triple top will happen since your "not yet" seems to suggest you believe bears are coming (just not yet). If a double top formation is broken, it is typically bullish.

Manufacturing PMI is better than expected, let's see what happens. GBP/JPY has already taken a little dip of around 30 pips, this could follow. Or not, since USD seems to be taking a nap as well.
  • #562,366
  • Dec 1, 2020 3:31am Dec 1, 2020 3:31am
Quoting Ehsank78
Have the bears arrived?
They never left...just playing with bulls a little.
Everyone can see the chart, but only a few can actually read it.
  • #562,367
  • Dec 1, 2020 3:33am Dec 1, 2020 3:33am
... clearly there were more/bigger sell limits than buy stops above 3398 and probably fresh sells entered the market as well. Last 30 min bearish engulfed last 2. 1hr below.
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Trader with an Edge.
  • #562,368
  • Dec 1, 2020 3:33am Dec 1, 2020 3:33am
I usualy trade 5min charts so most of my post are based on 5min.
99.9% persistence
  • #562,369
  • Dec 1, 2020 3:35am Dec 1, 2020 3:35am
Bears were never in the game , they failed to even come close to the real support @3762 so one can assume the sideways action over the past few days was bulls accumulating shorts.

For any chance of a reversal that support needs to break first although i believe now as we have a new high , support would now be at 3287
Follow The Markets Structure - Patience and Discipline
  • #562,370
  • Dec 1, 2020 3:35am Dec 1, 2020 3:35am
wait for it
99.9% persistence
  • #562,371
  • Dec 1, 2020 3:36am Dec 1, 2020 3:36am
Quoting Moty
{quote} i out from position in the gu , so i can see clearer {image}
yes, clearly possible.

but gu since last friday clearly looking his way down.. since the price wont really breakout of 1.34
every tick is a bear win for now.
i only scalping the highs till i will get the hit on the SW zone i posted earlier.

if it will break and resist i will short it for days.

maybe this what going to happen?
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  • #562,372
  • Dec 1, 2020 3:40am Dec 1, 2020 3:40am
and it drops
99.9% persistence
  • #562,373
  • Dec 1, 2020 3:42am Dec 1, 2020 3:42am
Quoting goldfish3
Reading this thread after ages. Forgot how entertaining it was lol. Yes short as well 340. v high prob on the shorts
v nice moves. happy bears
  • #562,374
  • Dec 1, 2020 3:42am Dec 1, 2020 3:42am
3407->2900 before Christmas.
Everyone can see the chart, but only a few can actually read it.
  • #562,375
  • Dec 1, 2020 3:42am Dec 1, 2020 3:42am
Come on bears
  • #562,376
  • Dec 1, 2020 3:42am Dec 1, 2020 3:42am
Quoting OnlineAddict
{quote} Looks like bulls got fooled again. This could go to 1.35 and bears were still in charge...just collecting orders...
If this goes to 1.35, then bulls would have won by 100 pips, how would bears be in charge? I don't quite understand your post, please do elaborate and tell me more, thanks.


Quoting zuluremys
I usualy trade 5min charts so most of my post are based on 5min.
I surmise you scalp or day-trade?
Quoting zuluremys
I usualy trade 5min charts so most of my post are based on 5min.
I surmise you scalp or day-trade?
  • #562,377
  • Dec 1, 2020 3:44am Dec 1, 2020 3:44am
Quoting OnlineAddict
2900 before Christmas.
Probably before next week and the EU parliament ... Spike on a deal... then drop on reality.

FTSE is starting to react differently and oil majors on FTSE have stopped rising with the oil price the last few days, some of them starting to turn to the downside... all signs the market is starting to take note.
Que Sera
  • #562,378
  • Dec 1, 2020 3:44am Dec 1, 2020 3:44am
Quoting OnlineAddict
3407->2900 before Christmas.
I agree, still short and still happy short. This 60m candle may end up being a clear rejection of the highs and a clear sign the bulls have left the building
A fool and his money are easily parted
  • #562,379
  • Dec 1, 2020 3:44am Dec 1, 2020 3:44am
Dem hit my SL and fall
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #562,380
  • Dec 1, 2020 3:44am Dec 1, 2020 3:44am
all the points perfectly hit I got buy
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