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Cable Update (GBPUSD)

  • #606,241
  • Jul 1, 2021 4:56am Jul 1, 2021 4:56am
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weekly is what I have seen .. not clear on this .. it was long look left . Rejection. Came down out of its tl And came back to try to break that candle .3 fails and a doji at the top of the tl . So price has rejected again and we are now at a support LEVEL TARGET 3670
  • #606,242
  • Jul 1, 2021 4:58am Jul 1, 2021 4:58am
Quoting babayaga
{quote} ciao Vincent1 cosa pensi questa maledetta tazza con manico... do we still have a chance ??? grazie P.S. I think if she ( cable ) enter 1.3786.., no
Ciao babayaga

the trend in down on Daily, no doubt
The the problem is to understand when there will be a retracement to the lower TFs.
The Bears that have sold, at some point, will want to take profit and look for a new and higher entry point.

Since I don't see the continuation, after the breakout of 1.3786 I am a little worried
I think you will have your Cup & Hadle, don't worry
We just need a little patience
  • #606,243
  • Jul 1, 2021 5:01am Jul 1, 2021 5:01am
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better lines as above post
  • #606,244
  • Jul 1, 2021 5:01am Jul 1, 2021 5:01am
Quoting Pat Chiko
{quote} Same here with H4 S&R level need to be tested. Price may pull back to retest the BO zone earlier. (20-30 pips) BTW, you should take responsibility for creating covid 19. See the graphic below. Thanks PAT {image}
Hey Pat is it the same person that dislikes your every post think you've got a stalker
  • #606,245
  • Jul 1, 2021 5:02am Jul 1, 2021 5:02am
Quoting Vincent1
{quote} Thanks Bones You are right, it is an Outside bar About Engulfing, the definitions I studied call it Engulfing if the second bar cover the first with the open and the close. Do you have a different one? To me it was Engulfing until 2 hours before Daily close, but then they pushed him up At the end, I don't think that 20 pips in 2 hours on a Monthly candle of 430 pips are a great change. If it is Engulfing, Outside or Dark Cloud Cover... The position of the candels at that levels and the structure in lower TF say Bears took control in June...
yes Vincent we split hairs I think dark cloud or engulf ,both high probability 2 candle set up ,
Dark cloud only has to be 50% the previous but the lower the more powerful it is
actually dark cloud often is better open next ,with engulf more likely to do that retrace

Personally I don't think it matters how you cut the data my main reason is 8gmt is easier/earlier than 12 midnight ,my daily looks bearish and broke support
your monthly opened bearish ,it's bearish for the month below your open
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #606,246
  • Jul 1, 2021 5:04am Jul 1, 2021 5:04am
... For me the next 'primary' potential support factor (as opposed to secondary [fibs/trendlines,] and tertiary [calculated pivots/fib extensions,] factors) is that prev 4hr/dly sw lo zone down to 3715. However the prev sw lo zone down to 3669 looks 'on paper' at least to be potentially stronger, if tested.
Trader with an Edge.
  • #606,247
  • Jul 1, 2021 5:06am Jul 1, 2021 5:06am
Quoting Vincent1
{quote} Ciao babayaga the trend in down on Daily, no doubt The the problem is to understand when there will be a retracement to the lower TFs. The Bears that have sold, at some point, will want to take profit and look for a new and higher entry point. Since I don't see the continuation, after the breakout of 1.3786 I am a little worried I think you will have your Cup & Hadle, don't worry We just need a little patience
many thanks
grazie mille

P.S. I am not long term trader.., but sometimes I stay for a few days.., if I am curious of something
it's quite strong pattern.., I closed everything but one position for now... ( now (+) 50 pips)... with TP 1.36756..,
let's see if she come somewhere there...
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dolce vita
  • #606,248
  • Jul 1, 2021 5:06am Jul 1, 2021 5:06am
Quoting Wavegarrick
{quote} Anyway, Folks, we could see a strong momentum move here, which could stretch well below 1.38000. Trade safe. {image}
Hi Guys,
A daily close below 1.38000 and my little broken trend line (grey) could be enough to see bears go down further. Having said that, at some point, Gu should retrace and I will look towards 1.37500 for a retrace back to 1.38000 and re-entry positions. Well for me I have enough sell trades so no more for me. Judging by the time span for the down move we could come to the end of the cycle at 1.3672 ish (lower end of the green box). Should 1.3672 go we could be in for a really nice short trend.
Have a great day,
Cheers.
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Trade to trade another day
  • #606,249
  • Jul 1, 2021 5:06am Jul 1, 2021 5:06am
BUY TO KICK IN SOON
  • #606,250
  • Jul 1, 2021 5:08am Jul 1, 2021 5:08am
Quoting Nd10
BUY TO KICK IN SOON
are you sure?
How to succeed in zero sum game?
  • #606,251
  • Jul 1, 2021 5:08am Jul 1, 2021 5:08am
Quoting Wavegarrick
{quote} Hi Guys, A daily close below 1.38000 and my little broken trend line (grey) could be enough to see bears go down further. Having said that, at some point, Gu should retrace and I will look towards 1.37500 for a retrace back to 1.38000 and re-entry positions. Well for me I have enough sell trades so no more for me. Judging by the time span for the down move we could come to the end of the cycle at 1.3672 ish (lower end of the green box). Should 1.3672 go we could be in for a really nice short trend. Have a great day, Cheers. {image}
Graphics Wavegarick as always
  • #606,252
  • Jul 1, 2021 5:13am Jul 1, 2021 5:13am
Quoting JayBag
{quote} Hi V, You are correct. For it to be an engulfing, it has to close below or above previous candle. With my limited experience with candlestick and judging by the close, last month's candle is not and ENGULFING rather a HARAMI.
I remember also Steve Nison, in one of his books, says that some pattern definitions were slightly different between Japanese traders.

That's why asked if Bones has a different definition. In any case it's Engulfing with the Daily close he uses. For sure is an outside bar

If we don't want to call it Engulfing, it's a fantstic Dark Cloud
As I wrote, maybe it's not important the name of the pattern, if it is 20 pips more or less, the signal is bearish and strong...the rest are details
  • #606,253
  • Jul 1, 2021 5:14am Jul 1, 2021 5:14am
Quoting Cateus
{quote} I feel you mate. I'm also trapped in 1.38 and wishing for your trendline to hold.
i am in good shape
don't worry
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yes yes yes
  • #606,254
  • Jul 1, 2021 5:15am Jul 1, 2021 5:15am
Quoting Pat Chiko
{quote} Same here with H4 S&R level need to be tested. Price may pull back to retest the BO zone earlier. (20-30 pips) BTW, you should take responsibility for creating covid 19. See the graphic below. Thanks PAT {image}
LOL that took a while to set in ,, but thanks i know you have been checking ,,respect to you ,,,Regards E
  • #606,255
  • Jul 1, 2021 5:16am Jul 1, 2021 5:16am
sneeeeeky cable careful
  • #606,256
  • Edited 7:25am Jul 1, 2021 5:24am | Edited 7:25am
you gotta love the bitcoin community, any bad news is clearly FUD
they seen it all before and are following that stock to flow model to 100-200k this year
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #606,257
  • Jul 1, 2021 5:28am Jul 1, 2021 5:28am
Quoting Wavegarrick
{quote} Hi Guys, A daily close below 1.38000 and my little broken trend line (grey) could be enough to see bears go down further. Having said that, at some point, Gu should retrace and I will look towards 1.37500 for a retrace back to 1.38000 and re-entry positions. Well for me I have enough sell trades so no more for me. Judging by the time span for the down move we could come to the end of the cycle at 1.3672 ish (lower end of the green box). Should 1.3672 go we could be in for a really nice short trend. Have a great day, Cheers. {image}
you are the cable magnate Wavegarrick

keep going, please
dolce vita
  • #606,258
  • Jul 1, 2021 5:30am Jul 1, 2021 5:30am
3810 looks like a price to short
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Compulsions can be hard to resist
  • #606,259
  • Jul 1, 2021 5:31am Jul 1, 2021 5:31am
Quoting JayBag
{quote} Hi V, You are correct. For it to be an engulfing, it has to close below or above previous candle. With my limited experience with candlestick and judging by the close, last month's candle is not and ENGULFING rather a HARAMI.
harami is a small candle that need confirm ,so it can't be and it matters
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #606,260
  • Jul 1, 2021 5:37am Jul 1, 2021 5:37am
Project save M on the moon looking good. Still waiting for some confirmation to launch
How to succeed in zero sum game?
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