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Cable Update (GBPUSD)

  • #566,521
  • Dec 17, 2020 1:22pm Dec 17, 2020 1:22pm
Quoting knkie
{quote} i think price has taken out all the significant tops on weekly chart {image}
true that.. Another reason it may contuse NORTH without any huddle.
I do not think bears take a look at weekly to see what they up against.

I really expect it to roar
  • #566,522
  • Dec 17, 2020 1:22pm Dec 17, 2020 1:22pm
Quoting Sepp1985
{quote} Hi, you mind pointing me to the 3 ma indicator? Thanks.
https://www.forexfactory.com/thread/...1#post12582441

just 20, 50,200 EMA.
Intraday only.
  • #566,523
  • Dec 17, 2020 1:23pm Dec 17, 2020 1:23pm
Quoting JayBag
{quote} true that.. Another reason it may contuse NORTH without any huddle. I do not think bears take a look at weekly to see what they up against. I really expect it to roar

i bought 3608 for about 40-60 pips
in wondering about yourself, you forgot what you came here to be part of
  • #566,524
  • Dec 17, 2020 1:26pm Dec 17, 2020 1:26pm
Quoting knkie
{quote} i bought 3608 for about 40-60 pips
Reasonable target and could easily be reached.
Maybe before daily close or Asia sesh
  • #566,525
  • Dec 17, 2020 1:34pm Dec 17, 2020 1:34pm
Quoting knkie
{quote} i bought 3608 for about 40-60 pips
same here i bought 3608 too but just closed it at 3618.. i started to see market getting slower and is already pass midnight here..haha my bed is calling me and i cant ressist my good blanket and pillow..

have a good pips..

im out now..
Trade what you see, not what you think.. react and stay sharp..
  • #566,526
  • Dec 17, 2020 1:37pm Dec 17, 2020 1:37pm
Quoting JayBag
{quote} This is true and I do close a few orders to increase balance. Doing this helps save account and lock profit regardless of how crazy price gets... I enjoy stacking up orders in direction of trend. Trade management is something else after figuring out entries. FX is not easy and it pisses me off when I see how 'wanna be' traders display it like it's a walk in the park. Mostly the Instagram frauds

Personally i never stack orders, i will split my position into two, one to cover the stop and one to let run, once price is equal to the stop i close first position and let the second run but keep the stop in the same place. If i see any pa that is adverse to my trade and if i have had a losing trade or 2 in a row which thankfully does not happen too often these days, i will close the whole position with the stop level profit if i am able to , not only does this help cover some of the loss but is also good from a psychological point of view.

If and only when price moves to a significantly high price away from my stop and the recent high then i will move it to break even.
Follow The Markets Structure - Patience and Discipline
  • #566,527
  • Dec 17, 2020 1:44pm Dec 17, 2020 1:44pm
come on
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yes yes yes
  • #566,528
  • Dec 17, 2020 1:57pm Dec 17, 2020 1:57pm
Quoting Moty
come on {image}
I think you may get it Moty, Brexit negotiations taking a turn for the worse...
A fool and his money are easily parted
  • #566,529
  • Dec 17, 2020 1:59pm Dec 17, 2020 1:59pm
Brexit news against us , never mind new highs made and profit banked , pa not good enough to hold further
Follow The Markets Structure - Patience and Discipline
  • #566,530
  • Dec 17, 2020 2:03pm Dec 17, 2020 2:03pm
Gu failed at the top, 9 hours consolidated and failed to climb further...I sold and I keep wating
  • #566,531
  • Dec 17, 2020 2:04pm Dec 17, 2020 2:04pm
...back @ desk updating charts...following the latest brexit update - negative - maybe all those retailers who are medium - longer term short know something over the smart money ? lol. 1hr below. Double top on this t/f now....testing steepest asc t/line shown.
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Trader with an Edge.
  • #566,532
  • Dec 17, 2020 2:08pm Dec 17, 2020 2:08pm
gbpusd will go below today's opening price within few minutes....and candle will end as bear...........
  • #566,533
  • Dec 17, 2020 2:13pm Dec 17, 2020 2:13pm
Quoting maheeee
gbpusd will go below today's opening price within few minutes....and candle will end as bear...........
well it's been a few minutes, and nothing ...should we give it a bit longer or should you give your crystal ball a polish, see if you can get a clearer picture?
Trader with an Edge.
  • #566,534
  • Dec 17, 2020 2:14pm Dec 17, 2020 2:14pm
Quoting maheeee
gbpusd will go below today's opening price within few minutes....and candle will end as bear...........
WOW..
extrasense among us
  • #566,535
  • Dec 17, 2020 2:15pm Dec 17, 2020 2:15pm
Quoting maheeee
gbpusd will go below today's opening price within few minutes....and candle will end as bear...........

Perfect for the bulls , its possible it might retrace to 138.70 or spike lower to the gap as that would make the second fractal swing after the prior daily correction and a perfect opportunity for bulls to take the third fractal swing up to new highs.

For the moment we are way off that situation.
Follow The Markets Structure - Patience and Discipline
  • #566,536
  • Dec 17, 2020 2:16pm Dec 17, 2020 2:16pm
Quoting Marbas
{quote} WOW.. extrasense among us
that ain't nothing - I see dead people...here, everyday !
Trader with an Edge.
  • #566,537
  • Dec 17, 2020 2:16pm Dec 17, 2020 2:16pm
Quoting pipfarm
{quote} Personally i never stack orders, i will split my position into two, one to cover the stop and one to let run, once price is equal to the stop i close first position and let the second run but keep the stop in the same place. If i see any pa that is adverse to my trade and if i have had a losing trade or 2 in a row which thankfully does not happen too often these days, i will close the whole position with the stop level profit if i am able to , not only does this help cover some of the loss but is also good from a psychological point of view....
I enjoy stacking a lot.. Maybe because I could archive more profits doing it.. But I like your positioning idea. I use that style with GOLD and really aggressive instruments..
  • #566,538
  • Dec 17, 2020 2:19pm Dec 17, 2020 2:19pm
Quoting Headland
{quote} that ain't nothing - I see dead people...here everyday !
And we love to see them
  • #566,539
  • Dec 17, 2020 2:23pm Dec 17, 2020 2:23pm
Considering this swing started around 3133 how many rotations of trend /correction would you expect? you can cycle down through the timeframes and trade all the rotations until eventually as i have said many times the swing will end eventually and the next larger fractal rotation down if its corrective will give bulls the next chance to take it to new highs.
Follow The Markets Structure - Patience and Discipline
  • #566,540
  • Dec 17, 2020 2:27pm Dec 17, 2020 2:27pm
Quoting Mcbeaners
{quote} you looking at vp from 2018? sure looks like it. and if you are i'd agree that's our rough current trading range. i decide to close my position for the moment and will see if we drift down here. buy the dip mode.
vp from 2018 - we are currently "resting" on the poc
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In tea leaves we trust!
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