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Cable Update (GBPUSD)

  • #575,341
  • Feb 1, 2021 12:01am Feb 1, 2021 12:01am
Quoting Theoak
First long in at 1.3734 - first target 1.3759 then the next one 1.3800 {image}
First long 1.3734 +14 pips
2nd 1.3736 +12 pips
3rd 1.3736 + 12 pips
4th 1.3737+ 11 pips

OUT and going to have a nap now
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Don't trade what you think. Just what you see!!!
  • #575,342
  • Feb 1, 2021 12:05am Feb 1, 2021 12:05am
Quoting navk
this spike, if i am trading, will short here. However i am on Prop firm verification stage, just waiting for 7 more days. So no trade.
G/L with it all mate.
-----------------------

Just touched the 1hr part but current dly hi inside the 4hr/dly part of the prev 1hr/4hr/dly sw hi zone = prev res = pot res, leading to 3759. Nice spurt up from the prev 30min sw hi zone = prev res = pot rbs and the 5min bullish hidden div play there, and met the res. 1hr below.
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Trader with an Edge.
  • #575,343
  • Feb 1, 2021 12:09am Feb 1, 2021 12:09am
Quoting Headland
{quote} G/L with it all mate. ----------------------- Just touched the 1hr part but current dly hi inside the 4hr/dly part of the prev 1hr/4hr/dly sw hi zone = prev res = pot res, leading to 3759. Nice spurt up and met the res. 1hr below. {image}
this is important place.....

Break of this would be more...to 3800.

However, to short here with 20 pips stop is ideal for me.
Intraday only.
  • #575,344
  • Feb 1, 2021 12:21am Feb 1, 2021 12:21am
Quoting navk
{quote} this is important place..... Break of this would be more...to 3800. However, to short here with 20 pips stop is ideal for me.
Agree, but could still see sellers emerge higher than last week's 3759 hi (if tested by price) as the prev 1hr/4hr/dly sw hi zone to 3759 is co-existant with that prev wkly/mthly swing lo zone = prev supp = pot sbr that started @ 3711 to likely circa 3790. Wkly R1 in there @/around 3766
Trader with an Edge.
  • #575,345
  • Feb 1, 2021 1:30am Feb 1, 2021 1:30am
Come on bear!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #575,346
  • Feb 1, 2021 1:33am Feb 1, 2021 1:33am
Quoting Yngwie
Come on bear!
...you have repeating patterns of regular bearish divergence @ current dly hi 5min-1hr on your side, but for now at least price found buyers at the 23.6% 3630-3754 @ the current pullback lo. g/l.
Trader with an Edge.
  • #575,347
  • Feb 1, 2021 1:33am Feb 1, 2021 1:33am
Quoting pipprincess
{quote} Good shout, it's bought. Sell limit going in @ 3750. {image}
Great entry

I should have pick a higher price, too. Now trying to cover drawdown
Air force
  • #575,348
  • Feb 1, 2021 1:42am Feb 1, 2021 1:42am
Tp at b/e + 2. Now gone short at 3730. Looking for 20 pips before going north for a possible run towards 3800
Insane in the Brain..
  • #575,349
  • Feb 1, 2021 1:43am Feb 1, 2021 1:43am
... 3rd 4hr rejection of that prev 1hr/4hr/dly sw hi zone=prev res =pot res, that was formed last Wednesday to 3759 now. 4hr below.
Attached Image
Trader with an Edge.
  • #575,350
  • Feb 1, 2021 1:46am Feb 1, 2021 1:46am
Quoting Headland
... 3rd 4hr rejection of that prev 1hr/4hr/dly sw hi zone=prev res =pot res, that was formed last Wednesday to 3759 now. 4hr below. {image}
Bears are trying hard to bring it down, but looks like the bulls have some unfinished business above last week's high.
  • #575,351
  • Feb 1, 2021 1:48am Feb 1, 2021 1:48am
GU

Thinking of going long here, when price dip.

Any comment welcome for educational purposes.

Thanks
Attached Image (click to enlarge)
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  • #575,352
  • Feb 1, 2021 1:52am Feb 1, 2021 1:52am
Quoting Sang.Real
GU Thinking of going long here, when price dip. Any comment welcome for educational purposes. Thanks {image}
Insya allah
  • #575,353
  • Feb 1, 2021 1:52am Feb 1, 2021 1:52am
Quoting parshal
GBPUSD H4 weekly overview (1st Feb - 5th Feb 2021) {image} {image}
Guys Gudmorning!

London session has yet not opened and the bulls are riding.
Have a great day start.
My observation may be wrong but intent correct. Stay calm!
  • #575,354
  • Feb 1, 2021 1:53am Feb 1, 2021 1:53am
Quoting Sang.Real
GU Thinking of going long here, when price dip. Any comment welcome for educational purposes. Thanks {image}
thats the area I’m looking to as well for a long
Insane in the Brain..
  • #575,355
  • Feb 1, 2021 1:55am Feb 1, 2021 1:55am
Quoting Sang.Real
GU Thinking of going long here, when price dip. Any comment welcome for educational purposes. Thanks {image}
That yellow zone hasn't been respected by price for a while - look it's broken up and down through it a few times subsequently to wherever it formed - your chart doesn't show that as it disappears off the left hand side of it. So how valid is that zone stretching back as far as it does on your chart....I have it as a prev 1hr swing hi zone = prev res = potential res becomes supp but from Friday only (see 1hr below.) Yes 'major' zones can still be potential supp/res even if they have not been respected subsequently but I would argue that stretching back as far as your yellow zone does it is not a 'major' zone - If you know what I mean. Just a point of view....you will agree or disagree.
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Trader with an Edge.
  • #575,356
  • Feb 1, 2021 1:55am Feb 1, 2021 1:55am
Quoting BeeTogether
{quote} thats the area I’m looking to as well for a long
That is my TP for my short opened @ 1.3736
  • #575,357
  • Feb 1, 2021 1:57am Feb 1, 2021 1:57am
Quoting Sang.Real
GU Thinking of going long here, when price dip. Any comment welcome for educational purposes. Thanks {image}
long story short.

check 1.3730-32
My observation may be wrong but intent correct. Stay calm!
  • #575,358
  • Feb 1, 2021 2:08am Feb 1, 2021 2:08am
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yes yes yes
  • #575,359
  • Feb 1, 2021 2:14am Feb 1, 2021 2:14am
Stopped out.. long now looks like today will see 138-13850
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Insane in the Brain..
  • #575,360
  • Feb 1, 2021 2:20am Feb 1, 2021 2:20am
GU have clear resistances on upside than supports on downside.
On weekly, resistance found around 1.3820, a base above will target 1.3900s and support starts from 1.3670 to 1.3620s and possibly 1.3560s that should hold the pair from falling.
On monthly, resistance expected around 1.3900s and support of 1.3520s, should both hold the pair within for this month.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
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