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Cable Update (GBPUSD)

  • #654,461
  • Mar 22, 2022 5:34am Mar 22, 2022 5:34am
I was waiting for either/and a bullish hidden div set-up or maybe a deeper pullback and a point 5 of the 30min or 1hr bullish exp tri...as it was we got the 5min bullish hidden div set-up the 23.6% fib of the move up. Deeper into this prev 1hr/4hr/minor dly } x2 sw hi zone to 3210 now.

5min below
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Trader with an Edge.
  • #654,462
  • Mar 22, 2022 5:38am Mar 22, 2022 5:38am
stopped out !!!
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ty mister goldi
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yes yes yes
  • #654,463
  • Mar 22, 2022 5:45am Mar 22, 2022 5:45am
... depending on how far up this goes ( too far and it invalidates,) there is still potential for a 1hr exp tri point 5 developing on a deeper pullback extension or retrace of move 3-4 should point 4 develop @/around current dly hi or maybe a bit higher.

3210 looks vulnerable to an upside break now. Mind -it looked similar @ 3209 y/day lol!

1hr below
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Trader with an Edge.
  • #654,464
  • Mar 22, 2022 5:48am Mar 22, 2022 5:48am
Quoting IBabyTrader
{quote} Monthly S1 is around 1.29? Do you think it goes down there?
March S1 is 1.3243 bruv
  • #654,465
  • Mar 22, 2022 5:53am Mar 22, 2022 5:53am
This needs a thorough break above the blue rectangle to really establish bullish continuation till 1.34 to 1.35. For every drop in this same blue rectangle, i add buys. Below the rectangle line, i await 1.29 area for full reinforcement of buys
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  • #654,466
  • Mar 22, 2022 5:59am Mar 22, 2022 5:59am
Quoting pbylina
{quote} Crap…🥲 {image}
Stopped out🥲
  • #654,467
  • Mar 22, 2022 6:01am Mar 22, 2022 6:01am
still long
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yes yes yes
  • #654,468
  • Mar 22, 2022 6:06am Mar 22, 2022 6:06am
Quoting Mitiblotch
I think the next logical thing is for price to take out the equal tops at 3210 area. I didn't expect this strong reaction from the lows. I had the equal tops marked but didn't expect price to hit it now. And it hit my SL in the process.
Trading towards equal tops or bottoms is a valid strategy if you know how to use it!
  • #654,469
  • Mar 22, 2022 6:10am Mar 22, 2022 6:10am
...upside break of 3210 ran into bottom of a prev 1hr/4hr sw hi zone that extends to 3228, near top of that aforementioned 3 fib cluster 3209-19 one of which is shown on 4hr chart below. 97% of 30day adr traveled so far lo-hi.

4hr below.
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Trader with an Edge.
  • #654,470
  • Edited 6:27am Mar 22, 2022 6:15am | Edited 6:27am
On a non-specific general fundie note - I can't remember how many consecutive 0.25% rises Alan Greenspan (then long-term fed chair - first appointed by Reagan) did leading up to the 2008 great financial crash that started with sub-prime u.s mortgages, ...it was a lot. Let's hope the fed don't overcook it this time too.
------------------------------

Re technicals; next upside 3 fib clusters 3316-21, then 3371-75.
Trader with an Edge.
  • #654,471
  • Mar 22, 2022 6:37am Mar 22, 2022 6:37am
looking for 25 pips as retracement
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yes yes yes
  • #654,472
  • Mar 22, 2022 6:44am Mar 22, 2022 6:44am
Quoting Moty
looking for 25 pips as retracement {image}
Good entry Moty. Almost at the Monthly S1 which is a possible resistance. Slight retracement can be expected. I await any good retracement for more buys till the next resistance i see at 1.328 to 1.333
  • #654,473
  • Mar 22, 2022 6:46am Mar 22, 2022 6:46am
Quoting Moty
looking for 25 pips as retracement {image}
...gotta get thru this prev 1hr/4hr/minor dly sw hi zone = prev res = pot rbs that caused the hold up for the bulls before the upside break!
EDIT: Took a bounce from it after a small pullback.

Good luck

1hr below
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Trader with an Edge.
  • #654,474
  • Mar 22, 2022 6:55am Mar 22, 2022 6:55am
1.3613
1.3443
1.3243
  • #654,475
  • Mar 22, 2022 6:56am Mar 22, 2022 6:56am
Quoting Headland
{quote} ...gotta get thru this prev 1hr/4hr/minor dly sw hi zone = prev res = pot rbs that caused the hold up for the bulls before the upside break! EDIT: Took a bounce from it after a small pullback. Good luck 1hr below {image}
Most likely buyers will get 3243 area.
  • #654,476
  • Mar 22, 2022 7:03am Mar 22, 2022 7:03am
Quoting Mitiblotch
{quote} Most likely buyers will get 3243 area.
you mean, get in or get caught ?
  • #654,477
  • Edited 7:14am Mar 22, 2022 7:03am | Edited 7:14am
Quoting Mitiblotch
{quote} Most likely buyers will get 3243 area.
It's certainly a straight line move up from that prev 1hr/4hr sw lo zone from current and likely dly lo of 3119. Price is though now @ 107% of 30 day adr so far today, so in that respect 3243 would be a stretch? It's not impossible though, - anything can happen.

3243 falls in a prev 1hr/minor 4hr sw hi zone = prev res = pot res that extends to 3248 and has that previously breached Mthly S1 in it, and a fib @ 3245, with Dly R2 just above @/around 3251. Another fib @ 3258 and Wkly R1 @/around 3260.
Trader with an Edge.
  • #654,478
  • Mar 22, 2022 7:04am Mar 22, 2022 7:04am
Quoting gespiri
I'm looking here 4hr for the week....maybe higher to hit my 333 MA. We'll see. {image}
I hope there's a retracement here so I can buy some more....4hr and 1hr at 1.3187
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Lost....
  • #654,479
  • Mar 22, 2022 7:07am Mar 22, 2022 7:07am
Quoting IBabyTrader
{quote} you mean, get in or get caught ?
Lol...I mean buyers should get their TP at 324x area before some retracement. I missed the buy so will look for short scalps.
  • #654,480
  • Mar 22, 2022 7:20am Mar 22, 2022 7:20am
hello guys... just closed my buy profit of 50 pips.. and this is what I see on H4 & Daily.. still a BULL on Daily and on H4 well.. I cannot say.. up and down for this 2 days.. I just wait for another buying then..
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