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Cable Update (GBPUSD)

  • #582,061
  • Mar 4, 2021 11:42am Mar 4, 2021 11:42am
Trade with prediction = witch with her visions lol
  • #582,062
  • Mar 4, 2021 11:42am Mar 4, 2021 11:42am
... J Powell can come to the party anytime ! 1hr below - 76.4% of the day's move up reached at the current pullback lo.
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Trader with an Edge.
  • #582,063
  • Mar 4, 2021 11:42am Mar 4, 2021 11:42am
The next wave crash to the SOUTH is in the works. 1.366 can't wait
  • #582,064
  • Mar 4, 2021 11:43am Mar 4, 2021 11:43am
Quoting Sang.Real
{quote} GU Scalping short {image}

GU

That was quick 63,5 pips.

Thanks guy for your help.

Will continue tomorrow.

Trade Well Trade Safe


Sang Real

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  • #582,065
  • Mar 4, 2021 11:45am Mar 4, 2021 11:45am
... 15mins to the close of gmt+2 4hr candle...could be interesting?

4hr below.
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Trader with an Edge.
  • #582,066
  • Mar 4, 2021 11:49am Mar 4, 2021 11:49am
Quoting BeeTogether
{quote} heres your entry mate
Not buying

Bond market is going crazy on Powells comments, will wait for it to calm

No trading until the market digests this, that could be the beginning of the dollar bull run.
  • #582,067
  • Mar 4, 2021 11:49am Mar 4, 2021 11:49am
Quoting mysterio
Nice spike Out of longs at 1.4017, waiting for retrace to re-enter Now i'm hoping cable will come crashing down to earth so I can buy more
wise decision, where you will add longs?
  • #582,068
  • Mar 4, 2021 11:54am Mar 4, 2021 11:54am
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Like me, cuts losses quickly. But has more patience and lets his winn
  • #582,069
  • Mar 4, 2021 11:54am Mar 4, 2021 11:54am
IMHO next target is below 1.39..
  • #582,070
  • Mar 4, 2021 11:54am Mar 4, 2021 11:54am
Quoting genadi
sold at 1.3978
closed trade at 1.3933
  • #582,071
  • Mar 4, 2021 11:55am Mar 4, 2021 11:55am
Bad it didn't go higher first to add more sells higher..
Anyways had to trigger my trailing stop at afternoon...now waiting for my 1.3870s to finally hit
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #582,072
  • Mar 4, 2021 11:55am Mar 4, 2021 11:55am
...took 8hrs to go from 30215 current dly lo to 4016 current dly hi and look in less than 1hr most of those gains are wiped out...hope longer-term bulls closed and/or got short on it...great momentum plays.
Trader with an Edge.
  • #582,073
  • Mar 4, 2021 11:55am Mar 4, 2021 11:55am
gold next 1685
Like me, cuts losses quickly. But has more patience and lets his winn
  • #582,074
  • Mar 4, 2021 11:59am Mar 4, 2021 11:59am
4hr asc t/line and 88.6% of the move up today at current dly lo - top of that prev 1hr/4hr sw lo zone down to 3916.
Trader with an Edge.
  • #582,075
  • Mar 4, 2021 12:00pm Mar 4, 2021 12:00pm
Quoting genadi
{quote} wise decision, where you will add longs?
I'm not doing anything for now, treasury yields leapt up to 154bps

Dollar could begin a massive bull run so i'm not buying cable. If anything I want to think about selling. I know I said exactly the opposite earlier but I didn't expect Powell to cause such a crazy reaction

Entering any trades rn is gambling just wait. Remember that dxy going down was just a technical correction the true direction is up (IE down for cable). Our friend at the Fed just sped that up
  • #582,076
  • Mar 4, 2021 12:00pm Mar 4, 2021 12:00pm
Theaok excuse me

crude went more than 450 pips UP
gold... down?
cable too

was trying to manage all my sell trades, opened during the up move
for now I survived

where are we going now.., 1.3750th???
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dolce vita
  • #582,077
  • Mar 4, 2021 12:02pm Mar 4, 2021 12:02pm
Quoting TerpFan2
Hey Gang, Tip' Top of the Evening for those in London, or those NY / EST here... 'Thought i'd continue to roll out 'video format of thoughts, from time to time- But you have to put up w/alot of blabbering, in these. However, they may give you some "insights" for picking-off, EOW Targets, in your Trading, and in essence, possibly why some, like Pip-Farm, had mentioned last night, that we were NOT done with this Wave-Set Structure, back-up. Again, -i will always note on any of these or my charting, He or Coreg, or yourself or other(s) can "Flog me...

Hi Terp,

sound went half way through and nearly blew my ears out with interference noise, (lawsuit on its way )

Yes folks it was me that said we are not yet done with this wave set, and if you read my subsequent posts i did mention that these B waves are risky trades as the price can gap away (not reach) its retest area if sellers are strong at a lower level or market makers do not want to bring in sell limits waiting in that area and it seems that is exactly what just happened.

About wave sets, think of a group of intraday moves as one degree of wave, ie sets of bars , one set up one down one up( upwave), that makes a wave at the lowest level, then link those groups of waves together to make the wave of the next larger degree.

Regards

Pip
Follow The Markets Structure - Patience and Discipline
  • #582,078
  • Mar 4, 2021 12:06pm Mar 4, 2021 12:06pm
All done now..serendipitous visit back to the desk - good old J Powell.....great move and some support at that prev 1hr/4hr sw lo zone to today's current dly lo.... 1hr below. Last 1hr and 4hr candles very bearish!
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Trader with an Edge.
  • #582,079
  • Mar 4, 2021 12:10pm Mar 4, 2021 12:10pm
Quoting KiwiTrada
{quote} both swissy & UJ ( inveted H&S and Bull flaggs) paid out in spades and hearts and diamond and clubs very very nice:-)
both near previous weekly highs "but" Im thinking uj could do another 200 pip 109 00 ish and swissy will see how 9295-9300ish does but if they go also possible 200-250 pips accordingly eu could should keep dumping similar usd definitely getting pumped :-)
If you are new to Forex? Say Goodbye to your account!!
  • #582,080
  • Mar 4, 2021 12:10pm Mar 4, 2021 12:10pm
Hello guys,

There is formation of a possible inverted head and shoulders pattern on the 4-hour chart of GBPUSD.

At the beginning of Jerome Powell’s speech, the price was seen to move upwards but it later moved downwards at the closure of his speech.

I am not certain about where the market might be headed but this inverted H and S pattern gives a reason for going long on a technical short term basis.

The fundamentals might fully play out but I am not sure yet because this market is speculative.

One of the things to watch out for tomorrow is the non-farm employment change.

Who knows whether the news outcome of the NFP will be much higher than the forecast or expectation?

Please see the 4-hour GBPUSD chart that I have attached to this post.

Please trade safely.
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