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Cable Update (GBPUSD)

  • #654,121
  • Mar 17, 2022 7:11am Mar 17, 2022 7:11am
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yes yes yes
  • #654,122
  • Mar 17, 2022 7:12am Mar 17, 2022 7:12am
Quoting IBabyTrader
Can some one please educate me, why good to buy, when going down?
It's not



Ever heard of the expression don't catch a falling knife?

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...because you never know - until you do!
  • #654,123
  • Mar 17, 2022 7:12am Mar 17, 2022 7:12am
Quoting IBabyTrader
Can some one please educate me, why good to buy, when going down? or is it just a downward blip to go high?
Many reasons:
Top resistance reached before the news.
Buy before the news, sell after, as it was priced in.
One member was against the rate decision 8-0-1
Big sharks sold against retail

We will get back to 132
  • #654,124
  • Mar 17, 2022 7:13am Mar 17, 2022 7:13am
BUY ACTIVATED
  • #654,125
  • Mar 17, 2022 7:13am Mar 17, 2022 7:13am
WOW.. I know its going down.. but I dont expect to be like this... WOW...
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  • #654,126
  • Mar 17, 2022 7:14am Mar 17, 2022 7:14am
Quoting IBabyTrader
WTF, it went down
Quoting Nd10
{quote} Expected.
Quoting Moty
good buy {image} took long for 50 pips{image}
Well done Moty. ; )
"Don't Shoot Me I'm Only the Piano Player"
  • #654,127
  • Mar 17, 2022 7:15am Mar 17, 2022 7:15am
Quoting Jolita
{quote} Many reasons: Top resistance reached before the news. Buy before the news, sell after, as it was priced in. One member was against the rate decision 8-0-1 Big sharks sold against retail We will get back to 132
Thank you Jolita
  • #654,128
  • Mar 17, 2022 7:16am Mar 17, 2022 7:16am
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yes yes yes
  • #654,129
  • Mar 17, 2022 7:17am Mar 17, 2022 7:17am
Quoting gespiri
{quote} George, the weekly range is almost done at 1.32 (+/- 25). To close below 1.3220 for the week would be normal IMO. I'm looking at 1.3331 (4hr 200ma) for a possible reversal. At this point, we can see a revisit to the WPP 1.3100 before a move up.
For me, as long as price don't pass 1.2998, then this is valid.
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Lost....
  • #654,130
  • Mar 17, 2022 7:19am Mar 17, 2022 7:19am
Quoting Mitiblotch
Wait for the inevitable spike above the liquidity area, then a close below the equal tops line, then short it to form a right shoulder. This is my scalp idea. Doesn't mean I will trade it, but it is good to have an idea. But be careful since the daily chart currently has tweezer bottom and the weekly is trying to paint a bullish engulfing candle. {image}
Done. Liquidity area grabbed and then down to form right shoulder. Who told you the market is random?
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  • #654,131
  • Edited 7:35am Mar 17, 2022 7:19am | Edited 7:35am
Took the short early enough holding for 29600
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Keep the Lights on then you can catch the rise from the dark.
  • #654,132
  • Mar 17, 2022 7:25am Mar 17, 2022 7:25am
sold at the tip but closed manually as news was approching..
at times trading gets frustating..
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  • #654,133
  • Mar 17, 2022 7:28am Mar 17, 2022 7:28am
Quoting Mitiblotch
{quote} Done. Liquidity area grabbed and then down to form right shoulder. Who told you the market is random? {image}
Yes. Right shoulder formed. XD nice one miti
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #654,134
  • Mar 17, 2022 7:31am Mar 17, 2022 7:31am
Quoting fxsport
{quote} It's not Ever heard of the expression don't catch a falling knife? {image}
Fxsport!! I hadn't seen your falling knife in a while Simply wonderful mate, good memories !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #654,135
  • Mar 17, 2022 7:32am Mar 17, 2022 7:32am
mf...
  • #654,136
  • Mar 17, 2022 7:33am Mar 17, 2022 7:33am
down or up what going on
  • #654,137
  • Edited 7:48am Mar 17, 2022 7:33am | Edited 7:48am
Quoting greenpips4
sold at the tip but closed manually as news was approching.. at times trading gets frustating.. {image}
Yet always interesting, it's a living.

Well done ricmaj, and others, an interesting read back.

Anyway, thank goodness that's over. Meantime US30 futs and most major markets ISQ.


EDIT: In status quo.
"Don't Shoot Me I'm Only the Piano Player"
  • #654,138
  • Mar 17, 2022 7:34am Mar 17, 2022 7:34am
GU was obvious, price was @ daily/weekly resistance.

GBPJPY was much more tricky.
  • #654,139
  • Mar 17, 2022 7:36am Mar 17, 2022 7:36am
trade for 50 pips with a break of 1.31250
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yes yes yes
  • #654,140
  • Mar 17, 2022 7:37am Mar 17, 2022 7:37am
Quoting fxsport
{quote} It's not Ever heard of the expression don't catch a falling knife? {image}
Face 'ur fears & tame 'ur greed
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