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Cable Update (GBPUSD)

  • #582,661
  • Edited 10:05pm Mar 8, 2021 8:32pm | Edited 10:05pm
Quoting Sang.Real
{quote} GU prepare to add long position add Buy Stop. Quick scalping position. {image}

GU

Strong momentum, no brainer

Single M15 candle push fill up both buy stop order. This is no brainer set up


Keep scalping position tight.
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  • #582,662
  • Mar 8, 2021 8:33pm Mar 8, 2021 8:33pm
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yes yes yes
  • #582,663
  • Mar 8, 2021 8:37pm Mar 8, 2021 8:37pm
Quoting babayaga
{quote} 3800 she reached already 4 and 1/2 times still not enough for you {image}
when it reached 3802...everyone thought it will break.... but it did not.

There are buyers there. Sellers around 3840.

Some one will give up at the end.

I guess, 3840 will give up first and then 3800
Intraday only.
  • #582,664
  • Mar 8, 2021 8:51pm Mar 8, 2021 8:51pm
Quoting navk
{quote} when it reached 3802...everyone thought it will break.... but it did not. There are buyers there. Sellers around 3840. Some one will give up at the end. I guess, 3840 will give up first and then 3800
i agree
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yes yes yes
  • #582,665
  • Mar 8, 2021 9:05pm Mar 8, 2021 9:05pm
Quoting KiwiTrada
{quote} what is 10 points for mate, she is still in 4hr range (40hr) just tapped psych 1 3800 bottom of range, range traders should have done good last 40hrs, trend traders are sitting on hand (for cable) all other us prs trend traders laughing all the way to the bank:-)
Quoting KiwiTrada
{quote} patience mate, it will happen, geppy now @ resistance but yen getting smashed by usd, cable tracking east 4ohrs now, she is getting compressed waiting for dump:-)

Patience. Better trades elsewhere.

Cheers.
  • #582,666
  • Mar 8, 2021 9:19pm Mar 8, 2021 9:19pm
... nice break up on after the 6th challenge to support...now challenging a prev 1hr sw hi zone....1hr below.
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Trader with an Edge.
  • #582,667
  • Edited 10:06pm Mar 8, 2021 9:19pm | Edited 10:06pm
Quoting Sang.Real
{quote} GU Strong momentum Single M15 candle push fill up both buy stop order. Keep scalping position tight. {image}
GU

Strong momentum on this long set up is a no brainer by newbie.

Keep it tight with scalping
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  • #582,668
  • Mar 8, 2021 9:52pm Mar 8, 2021 9:52pm
Quoting krismitt
{quote} Quoting KiwiTrada {quote} patience mate, it will happen, geppy now @ resistance but yen getting smashed by usd, cable tracking east 4ohrs now, she is getting compressed waiting for dump:-) Patience. Better trades elsewhere. Cheers.
yup much better else where attached is geppy 4hr bull flag (dotted already played out) new one now in play, but get this, the target is 153 52 pa now 151 000 psych level and present bull run started march last year with 2 pull backs 1 in june and 1 in september, so is huge call, and any stirling influence will effect cable a possible clarification in why cable doing these trade east phases???
Attached Image (click to enlarge)
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  • #582,669
  • Mar 8, 2021 10:08pm Mar 8, 2021 10:08pm
Quoting Sang.Real
{quote} GU prepare to add long position add Buy Stop. Quick scalping position. {image}
a, that is not scalping in the true sense, b, you still not using sl protection, c, you adding trade to losing trades ( yes they were green but that changed)
scalping is in&out reasonably quickly, you sl placement is so easy to see just below bottom range (and would be so quick) adding to losing trades mm enough said, you should be ok this time but you not really scalping, you are range trading, you could get away with it this time but in time range will break and you will be screwed
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  • #582,670
  • Mar 8, 2021 10:44pm Mar 8, 2021 10:44pm
Seem like price will retest last week lowest
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  • #582,671
  • Mar 8, 2021 10:45pm Mar 8, 2021 10:45pm
... price broke both the steepest 1hr desc t/line and the effective 4hr pennant top (blue,) but still in this range. 1hr below.
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Trader with an Edge.
  • #582,672
  • Mar 8, 2021 11:15pm Mar 8, 2021 11:15pm
Quoting Headland
... price broke both the steepest 1hr desc t/line and the effective 4hr pennant top (blue,) but still in this range. 1hr below. {image}
it is not broken yet just pierced, and has actually printed a double top near resist, for now???? see what this candle close is
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  • #582,673
  • Mar 8, 2021 11:39pm Mar 8, 2021 11:39pm
Quoting KiwiTrada
{quote} it is not broken yet just pierced, and has actually printed a double top near resist, for now???? see what this candle close is
Yeh agree, no 1hr candle close above it yet...1hr below.
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Trader with an Edge.
  • #582,674
  • Edited 1:14am Mar 9, 2021 12:02am | Edited 1:14am
Thinking it will be a bull day, but looking to enter lower. I'll wait for a good entry. Dollar showing some early signs of weakness, also seeing US10Y yields in a daily area of supply and a big 4h bearish engulfing

Actually nevermind, bought at 1.3840, stop will go to BE asap and i'll enter lower if it drops, TP open. Possibly 5th-9th is a big accumulation, looking like dxy will fall within its 15m/1h channel after reaching some key fib levels (0.618 retrace of the nov-jan swing high/low, as well as 1.0 ext of the current uptrend). Also in DXY weekly supply I think this could be in control for a bit. Hoping to see a nice breakout move this morning

Overall technical context-inside a falling wedge on a daily rising TL, the 4h demand at 1.38 has rejected quite a few times..if i'm wrong then i'll turn on a dime and go short but being wary of any fakeout moves

Edit- nice try. Still in. If I was a bit sharper this morning I would have waited for that move and bought at the pivot
  • #582,675
  • Mar 9, 2021 12:49am Mar 9, 2021 12:49am
Quoting KiwiTrada
{quote}c, you adding trade to losing trades ( yes they were green but that changed)

I think, you are confused...
There are just two directions:

- a losing direction
- a winning direction

Adding to a losing direction is probably a bad idea...
However, adding to a winning direction is not bad at all.

Just think, for a moment, of how any small business is run? You will foresee the insanity behind the losing trades idea without mentioning the direction? If they are into the winning direction, is the small business obliged to close, just because the current operations might be into the red zone for a month or two?! Hello?!
Maadik Hugiis. IQ 69.
  • #582,676
  • Mar 9, 2021 12:58am Mar 9, 2021 12:58am
Looks like a bullish flag
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yes yes yes
  • #582,677
  • Mar 9, 2021 1:04am Mar 9, 2021 1:04am
Quoting Sang.Real
{quote} GU Strong momentum on this long set up is a no brainer by newbie. Keep it tight with scalping {image}

GU


Newbie closing scalping position.

Will be looking for another set up later.

( During L.O. or after L.O.)

See what Price Action has to offer to qualify for a good set up.

I will share you my entry , if I have a good se up.

Thank you for helping me to pull this trade.

and Peace to all
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  • #582,678
  • Mar 9, 2021 1:04am Mar 9, 2021 1:04am
still holding 2 pos,.. other closed with little profit
but mostly taking profit from gold ( yesterday and expecting today)
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dolce vita
  • #582,679
  • Edited 1:45am Mar 9, 2021 1:06am | Edited 1:45am
Quoting MoneyZilla
{quote} I think, you are confused... There are just two directions: - a losing direction - a winning direction Adding to a losing direction is probably a bad idea... However, adding to a winning direction is not bad at all. Just think, for a moment, of how any small business is run? You will foresee the insanity behind the losing trades idea without mentioning the direction? If they are into the winning direction, is the small business obliged to close, just because the current operations might be into the red zone for a month or two?! Hello?!...

Hi Jonny Hatinga

Can you let me have some fun first ?.....


  • #582,680
  • Mar 9, 2021 1:14am Mar 9, 2021 1:14am
Quoting MoneyZilla
{quote} I think, you are confused... There are just two directions: - a losing direction - a winning direction Adding to a losing direction is probably a bad idea... However, adding to a winning direction is not bad at all. Just think, for a moment, of how any small business is run? You will foresee the insanity behind the losing trades idea without mentioning the direction? If they are into the winning direction, is the small business obliged to close, just because the current operations might be into the red zone for a month or two?! Hello?!...
nope im not confused, I accept there is 2 directions actually 3 "sideways" its not what I meant, he entered went green entered again went green entered again went green, then market reversed they all went red, then market reversed again they went green again, pa was ping pong, dangerous, except if scalping is great, he said was scalping, if he was, enter get out each trade would have been fine, but he was actually buying bottom of range and range trading accordingly buy low sell high, bad idea in ping pong market, just clarified he wasnt actually scalping, as for business depends on pain tolerance
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