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Cable Update (GBPUSD)

  • #586,341
  • Mar 25, 2021 11:38pm Mar 25, 2021 11:38pm
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yes yes yes
  • #586,342
  • Mar 25, 2021 11:53pm Mar 25, 2021 11:53pm
...seems to be that 3765 level tested twice now- the underside of that t/line mentioned above and that prev minor 1hr swing lo zone = prev supp = potential sbr. 1hr below.
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Trader with an Edge.
  • #586,343
  • Mar 26, 2021 12:12am Mar 26, 2021 12:12am
Quoting Headland
...seems to be that 3765 level tested twice now- the underside of that t/line mentioned above and that prev minor 1hr swing lo zone = prev supp = potential sbr. 1hr below. {image}
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It has to break the channel. the reason is that in the whole asian session it just a 20 pips move if it breaks 7692 (which is also yesterday's ADR)than
i think that it will go to 3800. Otherwise below this level it can fall back to 367.
Dont know what to do here. Its very tricky
  • #586,344
  • Mar 26, 2021 12:20am Mar 26, 2021 12:20am
Quoting bilal.cybrog
...... Dont know what to do here. Its very tricky
Well you know what they say, ' if in doubt - stay out.' It's probably good advice until it becomes clearer for you and your edge.

There is plenty of potential res and supp becomes res (sbr) overhead current price and bearish hidden divergence is building on 4hr oscillators, ...so a fair chance of a move down at some point - that 3775-3804 zone as potential sbr is favourite for sellers but who knows? Anything can happen.
Trader with an Edge.
  • #586,345
  • Mar 26, 2021 12:35am Mar 26, 2021 12:35am
Quoting Headland
{quote} Well you know what they say, ' if in doubt - stay out.' It's probably good advice until it becomes clearer for you and your edge. There is plenty of potential res and supp becomes res (sbr) overhead current price and bearish hidden divergence is building on 4hr oscillators, ...so a fair chance of a move down at some point - that 3775-3804 zone as potential sbr is favourite for sellers but who knows? Anything can happen.
Thanks.
Love that guidance.
  • #586,346
  • Mar 26, 2021 12:38am Mar 26, 2021 12:38am
Good morning, are we seeing a breakout?
  • #586,347
  • Mar 26, 2021 12:51am Mar 26, 2021 12:51am
...London fx desks open circa 0630am London time which until Sunday 0200 is gmt, [it becomes gmt+1 = bst (british summer time) then.] Most liquidity though is created by the cross-asset flow movements when equities open in London at 0800am gmt. Hopefully the London traders will shake it up a bit.
Trader with an Edge.
  • #586,348
  • Mar 26, 2021 12:54am Mar 26, 2021 12:54am
Quoting xDREx
Good morning, are we seeing a breakout?
G/M to you (and everyone,) ....well most 1st b/o's are false so who knows? It certainly made a new current dly hi but ran straight into a prev minor 1hr swing lo = prev supp = potential sbr.
Trader with an Edge.
  • #586,349
  • Mar 26, 2021 1:28am Mar 26, 2021 1:28am
Quoting xDREx
Good morning, are we seeing a breakout?
I think so. Breaking resistance line on 4hr chart.
  • #586,350
  • Mar 26, 2021 1:35am Mar 26, 2021 1:35am
Morning all! Quite an impressive movement in the Asian session. Not sure if we have seen today’s high already but being a Friday it can be a bit unpredictable today. Time to keep tight s/l’s. I will be scalping here and there until there is some definition
Insane in the Brain..
  • #586,351
  • Mar 26, 2021 1:37am Mar 26, 2021 1:37am
Go my wonderful bulls! And bring me the pips!
Risk Management is of utmost importance!
  • #586,352
  • Mar 26, 2021 1:39am Mar 26, 2021 1:39am
... price broke the 1hr rising wedge to the downside but only really because the chart moves to the left as a new candle opens lol!

We have patterns of regular bearish div to 30min, and 4hr bearish hidden div @ the current dly hi. Plenty of potential rbs though on 1hr.

1hr below.
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Trader with an Edge.
  • #586,353
  • Mar 26, 2021 1:49am Mar 26, 2021 1:49am
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yes yes yes
  • #586,354
  • Mar 26, 2021 1:51am Mar 26, 2021 1:51am
Quoting Wavegarrick
{quote} Hi Guys, I am in with some shorts, however, it is iffy at the moment. Fingers crossed. Cheers. {image}
Hi Guys,
My two sell trade stop losses were taken out, unfortunately.
However, I do have a money management plan that I follow. I offset some of my losing trades with winning trades. The net effect is still a profit. In my picture, I have highlighted my 2 losing sell trades with 3 winning trades.
I have opened another sell trade at my descending trendline. I would prefer a test of 1.3800. We shall see.
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I don't specifically look for targets and juggle with my buy trades versus my sell trades. I currently have 4 buy trades versus 8 sell trades. So I currently have 4 excess sell trades to play with. If I have losers I will offset them with my excess sell trades. If direction becomes unclear I will close my excess trades so that I have 4 buy trades and 4 sell trades. When the direction becomes clear I will start buying or selling in the trend direction. My mission is to increase my net profit slowly and steadily with an open and relaxed mind. This method may not be for everyone but it helps me.
See attachment.
Cheers.
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Trade to trade another day
  • #586,355
  • Mar 26, 2021 2:00am Mar 26, 2021 2:00am
Quoting Wavegarrick
{quote} Hi Guys, My two sell trade stop losses were taken out, unfortunately. However, I do have a money management plan that I follow. I offset some of my losing trades with winning trades. The net effect is still a profit. In my picture, I have highlighted my 2 losing sell trades with 3 winning trades. I have opened another sell trade at my descending trendline. I would prefer a test of 1.3800. We shall see. {image} I don't specifically look for targets and juggle with my buy trades versus my sell trades. I currently have 4 buy trades versus 8...
great post mate, thanks.
Trader with an Edge.
  • #586,356
  • Mar 26, 2021 2:01am Mar 26, 2021 2:01am
Good point, mate, regarding your observation on the 1.38000 area. The present retracement is likely an attempt by bulls to capture liquidity around the 1.38030 area before a potential southward turnaround.

Trade safe.

KP

Quoting Wavegarrick
{quote}.... My two sell trade stop losses were taken out, unfortunately. However, I do have a money management plan that I follow. I offset some of my losing trades with winning trades. The net effect is still a profit...I have opened another sell trade at my descending trendline. I would prefer a test of 1.3800. We shall see....
Do your homework, follow the footprints of smart money
  • #586,357
  • Mar 26, 2021 2:11am Mar 26, 2021 2:11am
... 30min bullish hidden div building - likely valid above 3729.... -against- the bearish regular div to 30min and bearish 4hr hidden div @ current daily hi, take your pick..are you bearish or bullish?

30min below
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Trader with an Edge.
  • #586,358
  • Mar 26, 2021 2:11am Mar 26, 2021 2:11am
Quoting RCtrader
Go my wonderful bulls! And bring me the pips!
This doesn't look good. Sad.
Risk Management is of utmost importance!
  • #586,359
  • Mar 26, 2021 2:12am Mar 26, 2021 2:12am
Quoting ChiForex
{quote} Increase your Tp and sell order to around 1.3780s, will initially bounce back to 1.3740s later..
As 1.3770 created first resistance, increase your sell to 1.3790s
Can't see price closing on weekly near or above 1.3820s as that will be very bullish and unexpected weird weekly candle close. Expecting move back down to close around 1.3700s
All that said, to make it in simple meaning for all to understand..as many lazy to conclude..
Your Tp of buys at 1.3790s and enter sell there for Tp starting 1.3740s then 1.3700s, SL at a base above 1.3820s or better a daily close above there..watch PA anyways
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #586,360
  • Mar 26, 2021 2:16am Mar 26, 2021 2:16am
Morning Gang,

It's Friday and I think we going to have a full-blown bull daily candle.

Take it easy, take a break and sip a few coz it's FRIDAY

SS Gang
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HTG