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Cable Update (GBPUSD)

  • #652,641
  • Feb 23, 2022 9:29am Feb 23, 2022 9:29am
technical analysis works better if you start to think about support and resistance as liquidity zones, and always ask question- Who is in the money?
  • #652,642
  • Feb 23, 2022 9:29am Feb 23, 2022 9:29am
Quoting chess king
{quote} I don't know how long I will wait for 3510.. but I hope to reach this number
Now 3522..or 3540 is a start of an up move
  • #652,643
  • Feb 23, 2022 9:32am Feb 23, 2022 9:32am
Quoting PatienceFx
{image}
trend guide caught the trade very accurately
  • #652,644
  • Feb 23, 2022 9:37am Feb 23, 2022 9:37am
so next nominal support is 3543/37 for last times it try hold , otherwise 3485 play next . lets go.
real crazy in gold brents hand , killed me two tries so far !
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #652,645
  • Feb 23, 2022 9:39am Feb 23, 2022 9:39am
reason of this drop is looks like everyone is trying to find bottom . sentiment n emotions are on bullish by almost every trader here
  • #652,646
  • Feb 23, 2022 9:41am Feb 23, 2022 9:41am
Quoting PatienceFx
{quote} trend guide caught the trade very accurately
this drop was because market is reacting to oil price spike
  • #652,647
  • Feb 23, 2022 9:48am Feb 23, 2022 9:48am
thanks god, thought Putin sold pounds and started war
  • #652,648
  • Feb 23, 2022 9:49am Feb 23, 2022 9:49am
Quoting Georginson
{quote} This is a classic case of momentum gathering for breakout and will happen when retail traders least expect it. Tips for breakout preparation and profit taking ✓ ASTERIK near term significant support and resistance zones (1.3480 & 1.3640) ✓ apply 20 pips sell stop below 1.3480 and target 1.3080 ✓ apply 20 pips buy stop above 1.3640 and target 1.4040 ✓ once price breaks out, never go against the trend, instead go with the trend and ensure stop loss isn't too tight. ✓Avoid scalping during price break out,...
Excellent analysis. However, I don't swing trade. I scalp. Always. I am an intraday trader. Even if a breakout happens I will buy and sell at appropriate areas. That's how I have always made my money. I cannot imagine holding from 3460 to 3080 if it happens in one week. I cannot even hold my trade that long.

Price is obviously gathering orders and will move to the area where the money is sitting. Until then I will scalp it and keep an acceptable stop loss.
  • #652,649
  • Feb 23, 2022 9:52am Feb 23, 2022 9:52am
Quoting raza198
reason of this drop is looks like everyone is trying to find bottom . sentiment n emotions are on bullish by almost every trader here

No, not everyone. My sentiment is bearish still until 13750 is breached. Market is unpredictable lately.
What is your sentiment?
  • #652,650
  • Feb 23, 2022 9:53am Feb 23, 2022 9:53am
Quoting PatienceFx
{quote} this drop was because market is reacting to oil price spike

Oil spiked on new sanctions to Russia. Oil spikes +300 on every announcement.
  • #652,651
  • Feb 23, 2022 9:56am Feb 23, 2022 9:56am
Lots of guessing on the markets will do on this thread.GBP has been one of the weakest pairs the whole and yet you guys predict buyers will just come in from nowhere,markets are moved by buyers and sellers,if sellers are in control,there is no reason to to be hoping for buyers,simple follow the money flow.
Watch me trade Live on YouTube
  • #652,652
  • Feb 23, 2022 9:56am Feb 23, 2022 9:56am
3500
PA Return Today: na
  • #652,653
  • Feb 23, 2022 10:00am Feb 23, 2022 10:00am
what i see now s Ok for M30 chart,this is not news,chart.If goes under 1.35100,its something special.
  • #652,654
  • Feb 23, 2022 10:01am Feb 23, 2022 10:01am
Quoting Coreg2004
{quote} Wavegarrick, it's the middle of the range on the daily TF...15 days GU jerk us back and forth in the range of 150 pips...
Thanks, Coreg.
Quite correct. We are in the middle of this 15 day 150 pip range. I take it you are close to your bullish bat pattern on the 30 min chart at 1.35488. I would like to see a daily close below 1.35500 and more specifically 1.3500 for your daily chart targets to come into play. Hope I understood you correctly.
Cheers.
Trade to trade another day
  • #652,655
  • Feb 23, 2022 10:05am Feb 23, 2022 10:05am
Quoting sunnym
Lots of guessing on the markets will do on this thread.GBP has been one of the weakest pairs the whole and yet you guys predict buyers will just come in from nowhere,markets are moved by buyers and sellers,if sellers are in control,there is no reason to to be hoping for buyers,simple follow the money flow.
So the money flow is sellers? Do you have an idea that we are still above the pivot for the month, which is 3517? Look at the daily chart, can you spot the higher lows? Price broke above 3550 and has not been able to close below it for a day since then. Also, please where did the buyers who spiked price almost 82 pips from 3538 come from?

Sellers are not in control more than buyers are. Price is simply ranging. Once supports are broken then sellers have it. But so long as 3517 holds, or even 3480, then bears don't have it yet.
  • #652,656
  • Feb 23, 2022 10:07am Feb 23, 2022 10:07am
Quoting Wavegarrick
{quote} Thanks, Coreg. Quite correct. We are in the middle of this 15 day 150 pip range. I take it you are close to your bullish bat pattern on the 30 min chart at 1.35488. I would like to see a daily close below 1.35500 and more specifically 1.3500 for your daily chart targets to come into play. Hope I understood you correctly. Cheers.
It's simply annoying, what price is doing. But I know the movers are gathering orders to go opposite of the herd. And somehow I feel the sellers are the herd.

In any case, are we to now believe that at the mention of Russia-Ukraine we start selling? The moment we believe that this pair can fly 200 pips in a day without looking back.
  • #652,657
  • Feb 23, 2022 10:09am Feb 23, 2022 10:09am
Quoting Wavegarrick
{quote} Thanks, Coreg. Quite correct. We are in the middle of this 15 day 150 pip range. I take it you are close to your bullish bat pattern on the 30 min chart at 1.35488. I would like to see a daily close below 1.35500 and more specifically 1.3500 for your daily chart targets to come into play. Hope I understood you correctly. Cheers.
Wavegarrick, daily ATR(14) for GU is 79 pips so for today target is 1.3541 and we are close to it. I will try to hold for 1.3521 for AB=CD if I won't be spooked...
Attached Image (click to enlarge)
Click to Enlarge Name: GU 02.23 30M.b.png Size: 101 KB
Always trade your own plan...I don't provide trading signals.
  • #652,658
  • Feb 23, 2022 10:14am Feb 23, 2022 10:14am
i shorted eur m30 not h1,and gu the same.short m30.h1 no short.i can tell you eur on daily didnt touch upper channel.so eur go up,and gu with eur goes,i think now.eur is the main.the problem when eur goes
  • #652,659
  • Feb 23, 2022 10:23am Feb 23, 2022 10:23am
Quoting Mitiblotch
{quote} It's simply annoying, what price is doing. But I know the movers are gathering orders to go opposite of the herd. And somehow I feel the sellers are the herd. In any case, are we to now believe that at the mention of Russia-Ukraine we start selling? The moment we believe that this pair can fly 200 pips in a day without looking back.

Hi Mitiblotch,

I understand you trade on trader sentiment. Do you trade with majority or against greater sentiment? Thank you.

In past I was lucky trading against sentiment, as the sharks will most of the times hedge these positions;
f.e if graph is showing 90% buying / 10% selling. Which direction you would trade? I would be selling.
  • #652,660
  • Feb 23, 2022 10:34am Feb 23, 2022 10:34am
Quoting Jolita
{quote} No, not everyone. My sentiment is bearish still until 13750 is breached. Market is unpredictable lately. What is your sentiment?
oh at last found one bearish person here, but ratio of bullish are far more so so so so so result u know
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