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Cable Update (GBPUSD)

  • #564,781
  • Dec 10, 2020 3:44am Dec 10, 2020 3:44am
Quoting Sang.Real
GU I'm newbie entering small scalping position. Any constructive comments are welcome to improve my trading knowledge. Thank You {image}
Level above level and the first is not fresh. Sure there will be some reaction, but don't expecting too much. IMO
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Be a spectator, not a player
  • #564,782
  • Dec 10, 2020 3:46am Dec 10, 2020 3:46am
so tempting to take long right now , but i will wait for conformation.
got out with 8 pips , 16 $ , i can live with that , waiting ......
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yes yes yes
  • #564,783
  • Dec 10, 2020 3:49am Dec 10, 2020 3:49am
Quoting Moty
so tempting to take long right now , but i will wait for conformation. got out with 8 pips , 16 $ , i can live with that , waiting ...... {image} {image}
, please see DXY favor for bear
Attached Images
Be a spectator, not a player
  • #564,784
  • Dec 10, 2020 4:02am Dec 10, 2020 4:02am
am I the only one here who is Long?
  • #564,785
  • Dec 10, 2020 4:15am Dec 10, 2020 4:15am
Quoting Moty
so tempting to take long right now , but i will wait for conformation. got out with 8 pips , 16 $ , i can live with that , waiting ...... {image} {image}
we are thinking the same thing
99.9% persistence
  • #564,786
  • Dec 10, 2020 4:15am Dec 10, 2020 4:15am
It did bottom out on the current daily flag channel... so, I am expecting a fierce pull back so I am long
... Cheers
  • #564,787
  • Dec 10, 2020 4:17am Dec 10, 2020 4:17am
1.33 showing strength in buying but it is not moving as one would expect. If the level fails, it would be a great short on break
  • #564,788
  • Dec 10, 2020 4:19am Dec 10, 2020 4:19am
Quoting khor
1.33 showing strength in buying but it is not moving as one would expect. If the level fails, it would be a great short on break
Short here, means break down from the bottom of the Flag channel... highly unlikely...unless if you want to commit a suicide
  • #564,789
  • Dec 10, 2020 4:20am Dec 10, 2020 4:20am
In longer term if someone want to hold positions will be 1.317. In my mind it will reach this point within 2weeks.
  • #564,790
  • Dec 10, 2020 4:22am Dec 10, 2020 4:22am
Quoting Wilczur
In longer term if someone want to hold positions will be 1.317. In my mind it will reach this point within 2weeks.
who cares in longer term... are you just commenting for the sake of argument ? long term you are dead
  • #564,791
  • Dec 10, 2020 4:24am Dec 10, 2020 4:24am
Quoting RazorFitch
{quote} Short here, means break down from the bottom of the Flag channel... highly unlikely...unless if you want to commit a suicide
Look at the 4Hr chart, the 1.33 zone held more than an average level. There would be a tonne of stops lurking below. This will induce a momentum to the downside upon the break. Of course just a view ...
  • #564,792
  • Dec 10, 2020 4:25am Dec 10, 2020 4:25am
Quoting khor
{quote} Look at the 4Hr chart, the 1.33 zone held more than an average level. There would be a tonne of stops lurking below. This will induce a momentum to the downside upon the break. Of course just a view ...
I dont trade views, hunches, gutts feeling, or emotions... only structure..
  • #564,793
  • Dec 10, 2020 4:28am Dec 10, 2020 4:28am
Why will he or she be dead in the longer term? Help us understand. It will be helpful for us to know that we are in a sideways GBPUSD market and until directional clarity is gained, perhaps with more certainty on the Brexit trade deals, and, technically, if the 1.33100/1.32600 prevailing support zone is signficanly broken down. That, imho, may be a more helpful idea to share or consider on this thread.

Stay safe, trade safe and prosper.

KP

Quoting RazorFitch
{quote} who cares in longer term... are you just commenting for the sake of argument ? long term you are dead
Do your homework, follow the footprints of smart money
  • #564,794
  • Dec 10, 2020 4:29am Dec 10, 2020 4:29am
Iam commenting to share my point of view. If you disagree ofcourse you can do it. You dont care about longer time, ok. In shorter time (today) we will reach 1.33400 - 1.33500 meybe 1.34 (hard to reach today), price direction is down obviously. I only trade in price action nothing more. Trust me that longer term price action is very predictable and due to this we can predict shorter time price but this is harder.
  • #564,795
  • Dec 10, 2020 4:32am Dec 10, 2020 4:32am
Quoting wiserltz
{quote} , please see DXY favor for bear {image} {image}
yes , in the long term .
but in the short term, dxy is bullish
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yes yes yes
  • #564,796
  • Dec 10, 2020 4:33am Dec 10, 2020 4:33am
Safer not to predict, mate.

KP

Quoting Wilczur
....In shorter time (today) we will reach 1.33400 - 1.33500 meybe 1.34 (hard to reach today). ..Trust me that longer term price action is very predictable....
Do your homework, follow the footprints of smart money
  • #564,797
  • Dec 10, 2020 4:35am Dec 10, 2020 4:35am
sometimes it is good thing to look at 1 min chart
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yes yes yes
  • #564,798
  • Dec 10, 2020 4:39am Dec 10, 2020 4:39am
Volume + Harmonic pattern
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  • #564,799
  • Dec 10, 2020 4:39am Dec 10, 2020 4:39am
Quoting KeenPips
Safer not to predict, mate. KP {quote}
It is my strategy mate, and if i can help i would share my vision.
  • #564,800
  • Dec 10, 2020 4:40am Dec 10, 2020 4:40am
Hitting some reasonable resistance on the FTSE which may slow GBP descent.
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