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Cable Update (GBPUSD)

  • #569,341
  • Dec 29, 2020 3:09pm Dec 29, 2020 3:09pm
Quoting Catempire
{quote} Consolidation after a big move can only mean one thing really... I consult my crystal ball. It's saying....... Price will GO Up or down.
exactly
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  • #569,342
  • Dec 29, 2020 3:13pm Dec 29, 2020 3:13pm
Quoting nessus94
{quote} thank you i will look i have looked and they are all 1;30 leverage in europe forex leverage is over!!!
here in Brazil XM offers 1:888 leverage
  • #569,343
  • Dec 29, 2020 3:17pm Dec 29, 2020 3:17pm
Quoting jotadavis
{quote} here in Brazil XM offers 1:888 leverage
For Brokers, in Europe, max leverage allowed is 30
  • #569,344
  • Dec 29, 2020 3:27pm Dec 29, 2020 3:27pm
Quoting palpite
{image}
Let's see if this change for an channel.

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  • #569,345
  • Dec 29, 2020 3:39pm Dec 29, 2020 3:39pm
Quoting Catempire
{quote} Consolidation after a big move can only mean one thing really... I consult my crystal ball. It's saying....... Price will GO Up or down.
Most definitely.. It’s usually huge moves after such a tight consolidation..

Looking forward to the BO.. I think Asia may be fun
lets see how they participate

SS
  • #569,346
  • Dec 29, 2020 3:42pm Dec 29, 2020 3:42pm
Quoting Moty
i am not going any where this is drop , or nothing {image}
it is a true war zone, a daily close below 1 35 would be good for bears above bulls??
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  • #569,347
  • Dec 29, 2020 3:48pm Dec 29, 2020 3:48pm
Quoting KiwiTrada
{quote} it is a true war zone, a daily close below 1 35 would be good for bears above bulls??
fukit missed nice entry on cad, lastweeks gap close 2780, prime cherry and missed while asleep :-(
If you are new to Forex? Say Goodbye to your account!!
  • #569,348
  • Dec 29, 2020 4:05pm Dec 29, 2020 4:05pm
Quoting JayBag
{quote} Most definitely.. It’s usually huge moves after such a tight consolidation.. Looking forward to the BO.. I think Asia may be fun lets see how they participate SS
Yes mate.

Find them while no one is looking is where the big moves are.

This puppy: Cam Kite, MAC, AIM, Marechale Capital (valuethemarkets.com) (thats an article I wrote back in 2015) found out that the company had just been approved planning permission on a solar farm up North. Yet to be announced to the market, land without solar farm worth X amount.. land with solar farm worth XXXX amount.

Piled in like mad men, wrote that, put it out. 700% in a day . had a fair few like that years ago.

Slightly off topic but...

My advice to anyone starting out (in any market) with little funds (as I did) would be to stick to the stock market and show some patience until the pot is big enough to learn how to trade Currencies.

It's not the currency that is the problem it is the leverage thats the problem for anyone without the no how (me included, I'm not no TA wizard) I am largely relying on fundamentals, timing & good old fashioned - luck.
Que Sera
  • #569,349
  • Dec 29, 2020 4:30pm Dec 29, 2020 4:30pm
Quoting knkie
{quote} price is probably ranging with conflicting H4 & M30 frames.
as i said : ranging all day.
Great for scalping up and down on M5.
Higher frame trades were probably a drama today.
in wondering about yourself, you forgot what you came here to be part of
  • #569,350
  • Dec 29, 2020 4:40pm Dec 29, 2020 4:40pm
coming to yearly close, much caution required, last year cable closed 1 3115 2020 open 1 3212 printed hangman doji and free fall for 2 months solid to 1 1409 so my advice is wait for 2021 open leave alone for a month then see what prints monthly weekly before deciding trade plan !!!
If you are new to Forex? Say Goodbye to your account!!
  • #569,351
  • Dec 29, 2020 4:44pm Dec 29, 2020 4:44pm
Quoting KiwiTrada
coming to yearly close, much caution required, last year cable closed 1 3115 2020 open 1 3212 printed hangman doji and free fall for 2 months solid to 1 1409 so my advice is wait for 2021 open leave alone for a month then see what prints monthly weekly before deciding trade plan !!!
personally I believe bullish BO needs to be retested, 1 3400ish before bulls can proceed the longer she trades east the lower the retest will be,my 2cents worth
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  • #569,352
  • Dec 29, 2020 4:49pm Dec 29, 2020 4:49pm
Quoting KiwiTrada
{quote} personally I believe bullish BO needs to be retested, 1 3400ish before bulls can proceed the longer she trades east the lower the retest will be,my 2cents worth
Surely the long term trend needs to be retested ? Has always been my take (over a long enough timeframe)

The fundamentals aren't strong enough for everything to just keep rising without tests on the psychology.

And when we test the psycology... we'll establish the direction !!

Until then " No one knows "
Que Sera
  • #569,353
  • Dec 29, 2020 5:04pm Dec 29, 2020 5:04pm
Quoting Catempire
{quote} Surely the long term trend needs to be retested ? Has always been my take (over a long enough timeframe) The fundamentals aren't strong enough for everything to just keep rising without tests on the psychology. And when we test the psycology... we'll establish the direction !! Until then " No one knows "
yep retesting is fundamental to trading, sell / defend resist buy defend support, monthly there is double bottom clear as day, provided bulls opportunity to attack resist, however bears have double top daily and weekly hence the war zone we presently in, agree totally no one really knows what is going to happen they are fools if they do, best can do is study t/f and try gauge what has best opportunity to happen, some will be right some wrong, traders life
If you are new to Forex? Say Goodbye to your account!!
  • #569,354
  • Dec 29, 2020 5:05pm Dec 29, 2020 5:05pm
Quoting KiwiTrada
{quote} yep retesting is fundamental to trading, sell / defend resist buy defend support, monthly there is double bottom clear as day, provided bulls opportunity to attack resist, however bears have double top daily and weekly hence the war zone we presently in, agree totally no one really knows what is going to happen they are fools if they do, best can do is study t/f and try gauge what has best opportunity to happen, some will be right some wrong, traders life
OTTP "off to the pub" catchcha later
If you are new to Forex? Say Goodbye to your account!!
  • #569,355
  • Edited 5:23pm Dec 29, 2020 5:08pm | Edited 5:23pm
Quoting KiwiTrada
{quote} yep retesting is fundamental to trading, sell / defend resist buy defend support, monthly there is double bottom clear as day, provided bulls opportunity to attack resist, however bears have double top daily and weekly hence the war zone we presently in, agree totally no one really knows what is going to happen they are fools if they do, best can do is study t/f and try gauge what has best opportunity to happen, some will be right some wrong, traders life
Exactly... if psychologically everyone has been rejecting a certain area for a long time... once it breaks the same people feel like they need to decide wether they have made the right decision.

Similarly.. when there is a gap in the chart.. no one knows whether the price should be there because its not been bought or sold yet. Hence why it gets filled. (unless the reasoning is plain as day or the gap is small enough in relation to the move that it doesn't matter).

The psychological angle makes far more sense to me than the TA but the TA ofc is a representation of that.
Que Sera
  • #569,356
  • Dec 29, 2020 5:10pm Dec 29, 2020 5:10pm
I think that 13370 will be retested & tbh the fact it hasn't happened yet and we are closer to monthly close and Brexit makes me think that it won't test it.... it'll fall through it.
Que Sera
  • #569,357
  • Dec 29, 2020 5:32pm Dec 29, 2020 5:32pm
Quoting Catempire
I think that 13370 will be retested & tbh the fact it hasn't happened yet and we are closer to monthly close and Brexit makes me think that it won't test it.... it'll fall through it.
Looking back to 2017 (June), a similar move on the weekly around 1500 points that connected with the 200ma then retraced, currently there could be a setup of the same occurring (only my opinion) the same 1500 move and currently over the 200ma, would make 1.4xx similar to the previous 2017 level, only this time, on a TA basis, could push through, this is only how I see it, but of course, it's dynamic (an excuse that it might not happen and go the other way) D
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I don't need to be good at the game, only good enough to beat my opponent,
  • #569,358
  • Dec 29, 2020 5:45pm Dec 29, 2020 5:45pm
Quoting detector
{quote} Looking back to 2017 (June), a similar move on the weekly around 1500 points that connected with the 200ma then retraced, currently there could be a setup of the same occurring (only my opinion) the same 1500 move and currently over the 200ma, would make 1.4xx similar to the previous 2017 level, only this time, on a TA basis, could push through, this is only how I see it, but of course, it's dynamic (an excuse that it might not happen and go the other way) D {image}
I agree.

My stance has always been extremely bearish until they secured a deal.

Also said I'd happily sacrifice my pos for a deal. It could be months (years) before the Brexit repercussions are felt especially considering how much the media control the market.

Its a tough call. I sway with short more so now because i am very short.

Honesty is the best policy.

Currently i don't think there is anyone out there that could predict the direction with absolute certainty and for that reason i would recommend anyone looking in to stay out.
Que Sera
  • #569,359
  • Dec 29, 2020 5:50pm Dec 29, 2020 5:50pm
Retest of the long term trend can very easily take a long time to happen.

We'll see.

Come the end of next week. around the 8th of Jan we'll know the medium term direction of the market.

If we drop with no conviction into next week I'll be taking Calls higher up. 14.
Que Sera
  • #569,360
  • Dec 29, 2020 5:56pm Dec 29, 2020 5:56pm
Quoting Catempire
{quote} I agree. My stance has always been extremely bearish until they secured a deal. Also said I'd happily sacrifice my pos for a deal. It could be months (years) before the Brexit repercussions are felt especially considering how much the media control the market. Its a tough call. I sway with short more so now because i am very short. Honesty is the best policy. Currently i don't think there is anyone out there that could predict the direction with absolute certainty and for that reason i would recommend anyone looking in to stay out.
Sometimes the irony is quite the opposite after the event, it may do a bitcoin, digressing, "it was never going to take off"," no way will anyone trust and trade it" these were the phrases of many moons ago, but yes your right, KiwiTrada too, predictions are just that, powers that be will move and manipulate this to the best of situations, think a longterm view should be no more than the hourly chart for trading purposesD
I don't need to be good at the game, only good enough to beat my opponent,
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