Cable Update (GBPUSD)

Quoting Pat Chiko

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{quote} Here's the chart. P/s Watch out how many got tricked entering at "kink" . Earlier retail traders trying to buy at kink area and price drop. Now retail traders trying to short at "kink area", then price shoot up. Kink area are tricked area to retail traders. {image} {image}

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Quoting Pat Chiko

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{quote} Here's the current chart on GU where kink are are manipulated, tricks being played, spikes up to catch retail traders. Saw retail traders trying to long at Trendline earlier, without looking at kink. Then later retail traders trying to short below the trendline just within the kink area. Trendline is Fake Out (FO) zone to tricks retail traders. Finally, price goes up , where it intent to do in line with the whole price structure. {image}

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Quoting Loey

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{quote} Wow I feel personally attacked lol. Nice observation, thank you for sharing the lesson

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Quoting Pat Chiko

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{quote} Regret, I have no interest of personal attack to anyone. I trade against you it doesn't mean I'm you enemy. Just I trade differently. just how the market operate to trick Retail trader to come in and place their order on the wrong side of the trade. this is just small sample hoe IT operate, with trapping LONG position earlier, then trapping SHORT position after that. they just want to take easy money by manipulating the price which translate into chart , we are seeing now.

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Quoting 19monza64

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GU H1. Possible formation of SHS. Level to watch for short 1.3860/75 {image}

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Quoting elbert3

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{image} price came up and is now 61.8 fib at 3875 flipped again

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Quoting Wavegarrick

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{quote} Hi Guys, A post mortem analysis on the good NFP data going against my trades which should have been in favor, to say the least, I did not expect it and closed my last trade at 35 pips profit which at some point was in 133 pips profit, frustrating I know and the ugly side of forex. Here's the thing though, from a daily perspective this is a normal retrace that tends to happen in the new month. Price landed on my future weekly pivot at 1.38314 (See Chart) and retraced a bit on Friday. It is a reasonable expectation that price can reverse back...

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Quoting Loey

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{quote} No, apologies for not being clear, I meant your post is so accurate of what I did (bought around the "kink" and sold it near the price that you pointed out), so you accurately predicted what retail traders like me did, which is impressive, as if you're advising me personally. So I am actually grateful and would be looking out for such scenario next time out. Thank you.

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