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Cable Update (GBPUSD)

  • #618,301
  • Aug 20, 2021 3:30am Aug 20, 2021 3:30am
Not really liking this buy as it stands--ready to escape if it doesn't start moving soon
  • #618,302
  • Aug 20, 2021 3:34am Aug 20, 2021 3:34am
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yes yes yes
  • #618,303
  • Aug 20, 2021 3:34am Aug 20, 2021 3:34am
Quoting mysterio
Not really liking this buy as it stands--ready to escape if it doesn't start moving soon
It had the regular bullish div to 1hr when it touched the 4hr part of the prev 4hr/dly/wkly sw lo zone down to 3566. Struggling atm though? Wide zone though so irt could test deeper? (or indeed break thru to the downside of it.) 5min below.
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Trader with an Edge.
  • #618,304
  • Edited 3:53am Aug 20, 2021 3:35am | Edited 3:53am
Quoting Moty
{quote} so i will lose 3 $ {image}
Good for you moty. It is always wise to control/manage your risk. perhaps BE would have been a better option.



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Fools Rushing
  • #618,305
  • Aug 20, 2021 3:36am Aug 20, 2021 3:36am
Quoting mysterio
Not really liking this buy as it stands--ready to escape if it doesn't start moving soon
Patience mate, you can't lose more than you can gain from here (subject to your target though) already attained 85% of the weekly range.
Data + Stat + Risk/Emotions Management
  • #618,306
  • Aug 20, 2021 3:39am Aug 20, 2021 3:39am
US30, Tried to out smart the market, Added another buy. Previous trade and new trade both hit stop.
Actually we are in Strong down side pressure. Yes long Term Trend is up in D1 but In H1 we are in Down trend.

Probably this NY session or Next week market may start move up. Probably Market may not move up until Jackson Hole.

For god sake, Let's be careful out there

Trade well every one
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MA provides the market's current direction and strength.
  • #618,307
  • Aug 20, 2021 3:40am Aug 20, 2021 3:40am
Quoting Georginson
{quote} Patience mate, you can't lose more than you can gain from here (subject to your target though) already attained 85% of the weekly range.
It looks very much like it was building up to long, now kind of looks like the opposite and we may get another break down before the up move. Tricky Friday

The DXY is flying but GU barely moving. My guess is it wants to rise from this kind of level but Dollar strength holding it back for now

Looks like they want to pump out more stops before any rise though
  • #618,308
  • Edited 3:58am Aug 20, 2021 3:44am | Edited 3:58am
Quoting mysterio
{quote} Having been around this stuff for only 8 months I agree I think you have to be able to identify horizontal levels were price moves are likely to occur. If you're an intraday trader/scalper then yes, to maximise your success then you have to be looking at levels on the H1/H4 chart. I think saying you can't be consistently profitable on the m5 chart alone and it's a coin toss is extreme. But you would need a good edge, like an expert level understanding of price action, order flow, supply & demand, or something like that. You might be great...
I agree, arguing with stupid is a very stupid thing to do so i know my fault and i won't act this stupid again. No one has to like each other but the thing that triggered me was saying negative, insulting stuff about to the other members behind my back. That act was "so wrong" to say the least.
You have to have an IQ higher than 90 to interact with this user.
  • #618,309
  • Aug 20, 2021 3:47am Aug 20, 2021 3:47am
Quoting KiwiTrada
dix trying very hard to get through previous daily high 9358, will require big effort, if so could pop nicely
and nice pop same with ucad, bread and butter, dix has no previous daily highs until 9431 :-) ucad slightly different popped thru 1 2900 psych then previous daily highs @ 1 2914 then 1 2932 then 1 2950 - 1 2955 zone is previous weekly high, im thinking usd appreciation across the board
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  • #618,310
  • Aug 20, 2021 3:48am Aug 20, 2021 3:48am
Quoting hasib
US30, Tried to out smart the market, Added another buy. Previous trade and new trade both hit stop. Actually we are in Strong down side pressure. Yes long Term Trend is up in D1 but In H1 we are in Down trend. Probably this NY session or Next week market may start move up. Probably Market may not move up until Jackson Hole. For god sake, Let's be careful out there Trade well every one {image}
it looks so much like a HUGE sell signal on the weekly charts they are so overbought its ridiculous actually.

i have not had great success shorting u30 sxp and n100.

i am waiting for the opportunity to buy go long.

its not the ideal time though. since the markets are kind of in sideways mode with a risk of going down but always seem to move up.

Acutally the sxp osscilltors on the weekly are screaming sell me but the weekly candle shows that it may be a better idea to buy at these levels.

The stock market is just to volatile in my opinion its best to buy the dips hold for as long as possible and hope for the best.
Trend_Masters
  • #618,311
  • Edited 4:00am Aug 20, 2021 3:50am | Edited 4:00am
Good day guys ...hope we all had a wonderful week, Friday is known for profit taking ...which might translate to some retracement ..long 1.3620...SL 20 pips...Tp 50 pips good luck guys
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  • #618,312
  • Aug 20, 2021 3:52am Aug 20, 2021 3:52am
100+ pip drawdown, but not a problem, staying bullish even more now at 3620. Might wait it out until 3900 or higher. Set my target at 3980 for now, lets see.

Added some longs at 3620.
Everyone can see the chart, but only a few can actually read it.
  • #618,313
  • Aug 20, 2021 3:58am Aug 20, 2021 3:58am
Quoting OnlineAddict
100+ pip drawdown, but not a problem, staying bullish even more now at 3620. Might wait it out until 3900 or higher. Set my target at 3980 for now, lets see.
looks like you are very bullish with EU and GU mate, i don't know what makes you convinced that EU and GU is so bullish. we know Fed wants tapering soon. so market will be bullish with DXY as unemployement rate below 6% right now. i think GBP will soon dump to 1.33 after reach 1.37 - 1.38 area incoming weeks.

we might see tapering talk from few months ago soon will be reality to apply in US.
  • #618,314
  • Aug 20, 2021 3:59am Aug 20, 2021 3:59am
GBPUSD showing signs of reversal on the 30mins but just cant make a significant jump higher in this session. i

i just need it to move a little bit below 1.36 i got some orders waiting there SL and some insurance the Hedge.

AUDUSD is killing me it is refusing to move below 0.71 this session. have limit orders waiting there. it cam with in 1 to 2 pips of the take profit but turn away. very frustrating it now looks like it wants to move higher and stop me out.
Trend_Masters
  • #618,315
  • Aug 20, 2021 4:00am Aug 20, 2021 4:00am
Quoting kerndc
{quote} it looks so much like a HUGE sell signal on the weekly charts they are so overbought its ridiculous actually. i have not had great success shorting u30 sxp and n100. i am waiting for the opportunity to buy go long. its not the ideal time though. since the markets are kind of in sideways mode with a risk of going down but always seem to move up. Acutally the sxp osscilltors on the weekly are screaming sell me but the weekly candle shows that it may be a better idea to buy at these levels. The stock market is just to volatile in my opinion...
Agreed,
Price is trying to move up, Because of uncertainty we are now in a range in H4. We should buy when find opportunity with low risk.
It is better we stay out this week since today is Friday.
This week will be bearish week and Price is now below monthly open line that is another point, how this month close I will observe it.
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MA provides the market's current direction and strength.
  • #618,316
  • Aug 20, 2021 4:00am Aug 20, 2021 4:00am
If anyone trades nzdusd, it presents with a good opportunity to the downside
  • #618,317
  • Aug 20, 2021 4:05am Aug 20, 2021 4:05am
Quoting emuszy
Good day guys ...hope we all had a wonderful week, Friday is known for profit taking ...which might translate to some retracement ..long 1.3620...SL 20 pips...Tp 50 pips good luck guys {image}

Only intraday and scalpers and those scared of unforseen drama occuring on the weekend are who close out. I can understand the reasoning of the risk of holding over the weekend but i have often experienced excellent gaps into my direction at the start of the new week. its really great when that happens.

when it gaps in the opposite way it usually does not stop me out or cause much harm since my stops are considerably far away from trouble.
Trend_Masters
  • #618,318
  • Aug 20, 2021 4:05am Aug 20, 2021 4:05am
Quoting hans91
{quote} looks like you are very bullish with EU and GU mate, i don't know what makes you convinced that EU and GU is so bullish. we know Fed wants tapering soon. so market will be bullish with DXY as unemployement rate below 6% right now. i think GBP will soon dump to 1.33 after reach 1.37 - 1.38 area incoming weeks. we might see tapering talk from few months ago soon will be reality to apply in US.
Agreed. I don't know about 2021 but i know 2022 will be very bullish for USD since FED said they will start tapering and hike interest rates in 2022.

For 2021, i can only talk for month to month. August clearly signed a bullish USD since GDP and inflation numbers were low this month. So we saw USD appreciating against almost every currency. For forecasting the early September, i am going to need the new US GDP numbers that will come out in 26th August.
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  • #618,319
  • Aug 20, 2021 4:06am Aug 20, 2021 4:06am
Quoting hasib
{quote} Agreed, Price is trying to move up, Because of uncertainty we are now in a range in H4. We should buy when find opportunity with low risk. It is better we stay out this week since today is Friday. This week will be bearish week and Price is now below monthly open line that is another point, how this month close I will observe it. {image}
Monthly chart kind of slow down last few month, we don't see any good body candle in either side.
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MA provides the market's current direction and strength.
  • #618,320
  • Aug 20, 2021 4:11am Aug 20, 2021 4:11am
Quoting hasib
{quote} Monthly chart kind of slow down last few month, we don't see any good body candle in either side. {image}
Weekly chart price behavior, After nice down weekly candle price recover towards upside. Now comes next week, can price recover next week?
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