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Cable Update (GBPUSD)

  • #572,921
  • Jan 20, 2021 5:26am Jan 20, 2021 5:26am
Quoting VM.
{quote} Looks like the last gasp of air before a deep plunge. Earnings season may be the trigger. People do not realise how bad the world economy is hit already. And what another half-year or year of lockdowns will do to it. Dollar should be a big winner though, they may print as much as they like, safe haven will be in demand soon.
That is what i think
the world should be hit very soon

buying equities here? buying risking assets here after a 10k% rise in nasdaq from 2007? its not even investing at this rate
Make money by doing the opposite of Giveachance aka loser
  • #572,922
  • Jan 20, 2021 5:27am Jan 20, 2021 5:27am
... I tend to agree with the 2 posters above re their fundie point of view but either the £ is more resilient than they think and/or that the $ has been weak for some time...probably a bit of both. If you're trading technically you just have to go with what price is doing regardless - it doesn't really matter why as the central tenet of TA is that everything that is known/cared about by market participants is discounted into what is the net current price. We've discussed here before how often the £ doom merchants have been premature = wrong in trading.
Trader with an Edge.
  • #572,923
  • Jan 20, 2021 5:28am Jan 20, 2021 5:28am
TP hit happy days. Now I am in short from 1.3710 hope fully with good out come...
  • #572,924
  • Jan 20, 2021 5:37am Jan 20, 2021 5:37am
Quoting Moty
I see a lot of pin bars in that area The current hourly candle will close bearish engulfing or a hanging man {image}
o.k , so i am late in 1 candle , don't be angry with me
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yes yes yes
  • #572,925
  • Jan 20, 2021 5:45am Jan 20, 2021 5:45am
THE drop is coming
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yes yes yes
  • #572,926
  • Jan 20, 2021 5:46am Jan 20, 2021 5:46am
... 23.6% of the 3584-3719 move tested at the current p/back lo...bottom of that 5min congestion zone before the break up...5min below. A bit H&Sy on this t/f ?
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Trader with an Edge.
  • #572,927
  • Jan 20, 2021 5:47am Jan 20, 2021 5:47am
My view for now
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  • #572,928
  • Jan 20, 2021 5:49am Jan 20, 2021 5:49am
my invention says that price won't return to 1,37 in the next 3 months...
LOL
If you don't know how to earn money, don't loose it.
  • #572,929
  • Jan 20, 2021 5:51am Jan 20, 2021 5:51am
Scalped after drop from 137. Now short term sell
Insane in the Brain..
  • #572,930
  • Jan 20, 2021 5:55am Jan 20, 2021 5:55am
Very "convenient" drop.
The small break above 1.3710 was not enough to take the stops. There is a possibility to try the 1.3750 to 1.3800 first, make shorts feel and then change direction....
  • #572,931
  • Jan 20, 2021 5:56am Jan 20, 2021 5:56am
Quoting kostas1
Very "convenient" drop. The small break above 1.3710 was not enough to take the stops. There is a possibility to try the 1.3750 to 1.3800 first, make shorts feel and then change direction....
Exactly what im thinking!
considering a long here
Edit: longed 1.3677
  • #572,932
  • Jan 20, 2021 5:59am Jan 20, 2021 5:59am
GoodMorning Cable people! Breakout was with HIGH Volume, it seems a REAL BreakOut, Fibonacci TP .3740/.3761

Green pips to all
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  • #572,933
  • Jan 20, 2021 6:01am Jan 20, 2021 6:01am
Quoting kostas1
Very "convenient" drop. The small break above 1.3710 was not enough to take the stops. There is a possibility to try the 1.3750 to 1.3800 first, make shorts feel and then change direction....

Probably took out some 'weak hands' re stops ie retail stops but likely bigger players' stops are way above current dly hi...for eg an old colleague of mine - works at a fund, has been building a short position for 1.2000 target with stops above 4376.
Trader with an Edge.
  • #572,934
  • Jan 20, 2021 6:04am Jan 20, 2021 6:04am
Also Meters: FULL LONG
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  • #572,935
  • Jan 20, 2021 6:06am Jan 20, 2021 6:06am
Quoting Headland
{quote} Probably took out some 'weak hands' re stops ie retail stops but likely bigger players' stops are way above current dly hi...for eg an old colleague of mine - works at a fund, has been building a short position for 1.2000 target with stops above 4376.
I love hearing how legit hedge funds and institutions trade, so different from retail LOL

We try and get our 30 pips a day type of thing while they go for monstrous moves
  • #572,936
  • Jan 20, 2021 6:06am Jan 20, 2021 6:06am
Quoting fxmasterdxb
{quote} Exactly what im thinking! considering a long here Edit: longed 1.3677
careful bulls
5 hours from now , bailey speaks , and baiden is becoming a president
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yes yes yes
  • #572,937
  • Jan 20, 2021 6:12am Jan 20, 2021 6:12am
15min: Actual swing seems a Classic Retrace (see LOW volume).Now we are on Support .3668/.3674

Propably here BUlls will back
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  • #572,938
  • Jan 20, 2021 6:14am Jan 20, 2021 6:14am
Quoting ZTrader123
{quote} I love hearing how legit hedge funds and institutions trade, so different from retail LOL We try and get our 30 pips a day type of thing while they go for monstrous moves

I know he/they have a mid term view (which used to be 12mths when I was there) of 1.2000 and have been selling the bearish daily candle closes that had a fractal hi above 3500 so I guess they are averaged from the average of 3539, 3624, 3704 and 3711 dly candle hi closes so far but I don't know that for sure....or whether they plan to carry on building on bearish daily closes if it goes any higher but still below their 'we are wrong/too early' point ie the stop. BTW having done both - I prefer the 'smash and grab' retail way lol !
Trader with an Edge.
  • #572,939
  • Jan 20, 2021 6:15am Jan 20, 2021 6:15am
Quoting ZTrader123
{quote} I love hearing how legit hedge funds and institutions trade, so different from retail LOL We try and get our 30 pips a day type of thing while they go for monstrous moves

Finally a meaningful exchange of an information, here!
It would be interesting to see these stops triggered?
There are other trades to compensate this particular trigger, i am sure...
Maadik Hugiis. IQ 69.
  • #572,940
  • Jan 20, 2021 6:17am Jan 20, 2021 6:17am
Quoting Headland
{quote} Probably took out some 'weak hands' re stops ie retail stops but likely bigger players' stops are way above current dly hi...for eg an old colleague of mine - works at a fund, has been building a short position for 1.2000 target with stops above 4376.
Serious! These are the real market makers!
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