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Cable Update (GBPUSD)

  • #574,721
  • Edited 3:57am Jan 28, 2021 3:42am | Edited 3:57am
Quick buy on cable here, confluence of channel and support, will get the stop to BE asap.

Edit- just took 15 pips 3xR, looks like a little wedge building inside of the channel, will look out for a break up.

Note, this is a good area to watch out for a potential reversal
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  • #574,722
  • Jan 28, 2021 3:44am Jan 28, 2021 3:44am
Quoting BeeTogether
{quote} Similiar to my thinking of the daily pivot which sits above that level. Currently my thinking is short to 13580 and then look to go long from there. will have to take a huge loss however the drop to 13580 should cover half and the retrace towards 137 should then turn my trade into bigger profits
'anything can happen.' good luck with it.
Trader with an Edge.
  • #574,723
  • Jan 28, 2021 3:49am Jan 28, 2021 3:49am
Quoting Bartosz77
{quote} So this variant went well. Next steps were (at the "Recent" (2021.01.26 07:30 GMT to 2021.01.27 07:30 GMT) Fibo): 1. Retrace to 50% with a double swing. 2. Retrace to 61.8% with extension south indicating where th price wishes to go next. 3. Small journey up to just touch 50% and back to 61.8%. After this "retail moves" until 07:00 GMT today. 4. Institutional move down to 76.4%, crossing it over by few pips, quick move north to 61.8%, immediate return to 76.4 with a greater cross southwards than before. {image} There is a relation between...
Question for now is:

1. will we "consume" the whole "Recent" fibo down to 1.36100 (this would open further downwards move to 76.4% "Previous" fibo @ 1.35791)
or
2. will we go up to the top, exceed it and make a new movement for a new Fibo afterwards (end of month top wick)?
WT
  • #574,724
  • Jan 28, 2021 3:54am Jan 28, 2021 3:54am
Quoting Headland
{quote} 'anything can happen.' good luck with it.
waiting for 1H to close if it does below 13630 then shorting it is ..
Insane in the Brain..
  • #574,725
  • Jan 28, 2021 4:00am Jan 28, 2021 4:00am
do we expect that she will break up 1.3660 right now (???)
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dolce vita
  • #574,726
  • Jan 28, 2021 4:05am Jan 28, 2021 4:05am
... dly below shows how the new uptrend hi's have been getting less high than they were getting, toward the current 3759 hi of the trend, ie 3704-3711-3746-3759...is this a sign of trend exhaustion or is there more life in the longer term bulls yet?
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Trader with an Edge.
  • #574,727
  • Jan 28, 2021 4:10am Jan 28, 2021 4:10am
Quoting babayaga
do we expect that she will break up 1.3660 right now (???) {image}
it is possible.. 13660 - 13370 takes the pressure off a bit on the downside. However it won’t be validated unless it clears 13680-137. Even then the bulls won’t be in control as Headland has pointed out the bull run could be exhausting.
Insane in the Brain..
  • #574,728
  • Jan 28, 2021 4:12am Jan 28, 2021 4:12am
Quoting Moty
{image}
moty, You have a lot of patience.
  • #574,729
  • Jan 28, 2021 4:17am Jan 28, 2021 4:17am
There is still downside ..

1,3612 deterministic points..

And it may reach 1.3595 to enter long, breaking the last high ..
  • #574,730
  • Jan 28, 2021 4:18am Jan 28, 2021 4:18am
Quoting Bikrompur
{quote} moty, You have a lot of patience.
he has a lot of money
  • #574,731
  • Jan 28, 2021 4:19am Jan 28, 2021 4:19am
Quoting Bartosz77
{quote} So this variant went well. Next steps were (at the "Recent" (2021.01.26 07:30 GMT to 2021.01.27 07:30 GMT) Fibo): 1. Retrace to 50% with a double swing. 2. Retrace to 61.8% with extension south indicating where th price wishes to go next. 3. Small journey up to just touch 50% and back to 61.8%. After this "retail moves" until 07:00 GMT today. 4. Institutional move down to 76.4%, crossing it over by few pips, quick move north to 61.8%, immediate return to 76.4 with a greater cross southwards than before. {image} There is a relation between...

..you have fibs plotted from lo-hi (1hr chart) on one chart and from open to a hi that had been exceeded on another? It's not really a valid way to do it - most (if not all?) market participants that use them plot hi to lo / lo-hi otherwise you're not being consistent and maybe worse - trying to make them 'fit' with PA.
Trader with an Edge.
  • #574,732
  • Jan 28, 2021 4:21am Jan 28, 2021 4:21am
Quoting Bikrompur
{quote} moty, You have a lot of patience.
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yes yes yes
  • #574,733
  • Jan 28, 2021 4:39am Jan 28, 2021 4:39am
Long on retest of wedge/s1, stops to BE asap, lets see if we can get to 1.3665

Out +20... easy pips today
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  • #574,734
  • Jan 28, 2021 4:40am Jan 28, 2021 4:40am
A lot of resistance on monthly TF
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Shooting star-like or doji weekly candle (?)
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Put pending sell @ 1.37...
Air force
  • #574,735
  • Jan 28, 2021 4:46am Jan 28, 2021 4:46am
is here ! Mr Spike Lee let’s bring home the !!
Insane in the Brain..
  • #574,736
  • Jan 28, 2021 4:47am Jan 28, 2021 4:47am
Quoting Headland
{quote} ..... price has entered the 4hr and dly spike part of the prev swing lo down to 3609....Could see more buyers emerge if price tests deeper? {image} {image} {image}
So it proved to be - this time the 5min double regular bullish div (timed on 1min.) ...1hr below then 5min.

1hr+ upside potential obstacles as below.
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Trader with an Edge.
  • #574,737
  • Jan 28, 2021 4:50am Jan 28, 2021 4:50am
Now scalp short.. stop to BE already

Edit Out BE-- it may still work
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  • #574,738
  • Jan 28, 2021 4:51am Jan 28, 2021 4:51am
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yes yes yes
  • #574,739
  • Jan 28, 2021 4:58am Jan 28, 2021 4:58am
They stall can't decide, if this is gonna be a party... or not?
Maadik Hugiis. IQ 69.
  • #574,740
  • Jan 28, 2021 4:59am Jan 28, 2021 4:59am
Fasten the seat belts. We are flying.
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