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Cable Update (GBPUSD)

  • #657,501
  • Apr 28, 2022 7:07am Apr 28, 2022 7:07am
Quoting elbert3
Fib the top to 2491 and we get that 161 % lets see if i am correct ,,
I have 176.4% fib ext of a-b move, with 76.4% downside ext of y/day pip range, and that bottom of 1hr falling wedge.

1hr below
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Trader with an Edge.
  • #657,502
  • Apr 28, 2022 7:09am Apr 28, 2022 7:09am
Hello again July 2020 Boom ! I haven't seen this kind of power very often in the last 15+ years/.

For me, price is, among too many other things, attacking the month move that started the year long up move, JULY QUEEN OF COVID! . 80 some pips away is the low of it !

Exciting ! Cheers dear fellow traders !

Boring personal live shares' updates:
We are nearing the main low monthly shadows of my longer-term ranging strats. That is where my 1st TP is for my longer-term shorts, for now(very dynamic day to day updated). In order of entry time...
Quoting mtako
{quote} Lost that one with the 1H BO of >3030(-39), now finally selling again Sold 3112.
Quoting mtako
{quote} Selling a 2nd swing here at 2576, SL merged to my 3112 SL midway. Finally some decent trend quality with this pair...
Quoting mtako
Surprise 1H double pullback trend setup, Sell stop 2553
Quoting mtako
{quote}{quote} Sell stop .2499, averaging SL between the 3 positions when/if triggered...{image}
Quoting mtako
{quote} SL at BE. Sold again here 2530. 1H pullback again
My 2499 = TP2399, July2020 low shadow beginnings. ALL SL now at BE except my 3112, which is trailing now at 1.28.
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #657,503
  • Apr 28, 2022 7:09am Apr 28, 2022 7:09am
After trying to find ‘BUYS’ tirelessly I finally peeped this ….
it’s annoying ..

i came to this assumption that if it doesn’t break this channel … it’s ain’t going up yet
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  • #657,504
  • Apr 28, 2022 7:10am Apr 28, 2022 7:10am
Quoting HengkiTjen
Hallo I'm new here Any recommendations interesting strategy for GBPUSD ?
https://www.forexfactory.com/thread/...r-and-strategy
Intraday Trading is an Art _ hoda
  • #657,505
  • Apr 28, 2022 7:14am Apr 28, 2022 7:14am
Quoting Nuel101
After trying to find ‘BUYS’ tirelessly I finally peeped this …. it’s annoying .. i came to this assumption that if it doesn’t break this channel … it’s ain’t going up yet {image}
Why were you trying to find buys and not sells,? all the fundamentals were screaming sell as well as the technicals. Very shallow pullback, only 2 being 75-80 pips, all sold by the market..straight line fall on dly since 3090.

Before anyone says the market is 'oversold' - that's what a downtrend is, it's 'oversold.' My 4hr o/b / o/s oscillator has been o/s since 2800 lol! I've had longs too but more sells than buys and have favoured the strong trend looking for those pullbacks to get back with it. To go long for any significant target against a trend that has existed 1min - mthly a lot of the time, and certainly 1hr-mthly all of the time, I would want to see some pretty good tech conditions/potential support.
Trader with an Edge.
  • #657,506
  • Apr 28, 2022 7:15am Apr 28, 2022 7:15am
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  • #657,507
  • Apr 28, 2022 7:15am Apr 28, 2022 7:15am
That’s a new 19 year high for the dollar give or take a month or 2
  • #657,508
  • Apr 28, 2022 7:16am Apr 28, 2022 7:16am
Quoting mtako
Hello again July 2020 Boom ! I haven't seen this kind of power very often in the last 15+ years/. For me, price is, among too many other things, attacking the month move that started the year long up move, JULY QUEEN OF COVID! . 80 some pips away is the low of it ! Exciting ! Cheers dear fellow traders ! Boring personal live shares' updates: We are nearing the main low monthly shadows of my longer-term ranging strats. That is where my 1st TP is for my longer-term shorts, for now(very dynamic day to day updated). In order of entry time... {quote}{quote}{quote}{quote}{quote}My...
Very nice mate.
Where do you think we can expect a bull resume back to 1.3x? Do you see anywhere near?
I am thinking of start to buy from 1.237x area all the way up. Is that a good idea?
  • #657,509
  • Apr 28, 2022 7:21am Apr 28, 2022 7:21am
Quoting IBabyTrader
{quote} Very nice mate. Where do you think we can expect a bull resume back to 1.3x? Do you see anywhere near? I am thinking of start to buy from 1.237x area all the way up. Is that a good idea?
Why is everyone on this thread so determined to buy something that is in a clear downtrend? Spend your time looking for places to sell any rally
Plan, Prepare, Execute, Repeat
  • #657,510
  • Apr 28, 2022 7:24am Apr 28, 2022 7:24am
Quoting Headland
{quote} Why were you trying to find buys and not sells,? all the fundamentals were screaming sell as well as the technicals. Very shallow pullback, only 2 being 75-80 pips, all sold by the market..straight line fall on dly since 3090. Before anyone says the market is 'oversold' - that's what a downtrend is, it's 'oversold.' My 4hr o/b / o/s oscillator has been o/s since 2800 lol! I've had longs too but more sells than buys and have favoured the strong trend looking for those pullbacks to get back with it. To go long for any significant target against...

well I’m more of a Technical analysis person … and my plan or analysis was all pointing to a buy … or probably “I” was expecting the market to BUY … that’s me wanting the market do what I want … I guess .. but I was smart enough to stay out since I didn’t see any trade to take … So I guess lesson learned lol ..

btw I’m not really fundamentally sound
  • #657,511
  • Edited 7:56am Apr 28, 2022 7:28am | Edited 7:56am
Quoting IBabyTrader
{quote} Very nice mate. Where do you think we can expect a bull resume back to 1.3x? Do you see anywhere near? I am thinking of start to buy from 1.237x area all the way up. Is that a good idea?
Thanks mate! I am eternally thankful for my wins but even more for my losses, without which the first would not exist.

I wish I had an answer for you, but I have no clue. I never do. All I know is how to react to price in various ways and with adapted risk management. Basically all I know is I will buy when I get a long setup and, aside from <10pips scalps, that requires at minimum a good old >10min double bottom or higher low, preferably from >1H though, and we are far from that..

Important ! Potentially impactful news everyday from today to the Friday 6th. So for me, I wait for volatility dust to settle for any serious positions.

Hope my 2 cents on your thoughts helped anyhow. Cheers and thanks for the question!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #657,512
  • Apr 28, 2022 7:28am Apr 28, 2022 7:28am
Quoting swingtrade65
{quote} Why is everyone on this thread so determined to buy something that is in a clear downtrend? Spend your time looking for places to sell any rally
I am not buying yet, just an idea of short term scalps.
But there should be some point where would reverse. I cannot just keep going down to zero right?
  • #657,513
  • Apr 28, 2022 7:28am Apr 28, 2022 7:28am
Quoting crow
{image}{image}
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  • #657,514
  • Apr 28, 2022 7:30am Apr 28, 2022 7:30am
Usdx 103.94 tested, so all shorts closed to see next what happen, take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #657,515
  • Apr 28, 2022 7:30am Apr 28, 2022 7:30am
Quoting Nuel101
{quote} well I’m more of a Technical analysis person … and my plan or analysis was all pointing to a buy … or probably “I” was expecting the market to BUY … that’s me wanting the market do what I want … I guess .. but I was smart enough to stay out since I didn’t see any trade to take … So I guess lesson learned lol .. btw I’m not really fundamentally sound
Yeh I've had good bullish set-ups too that in any other type of market bar a very strong downtrend to monthly t/f would have produced more pips and better/longer up-moves, but as you rightly intimate, you have to understand first the context of what the market is doing re trend or range and how many t/f's those conditions are replicated on. Not absolutely necessary but a basic understanding of fundies to see what's driving it helps too.
Trader with an Edge.
  • #657,516
  • Apr 28, 2022 7:33am Apr 28, 2022 7:33am
Quoting fxmasterdxb
I expect between 1.2415-1.2400 the bear move will terminate
Missed it by 5 pips
Enjoy the bull power now
  • #657,517
  • Apr 28, 2022 7:33am Apr 28, 2022 7:33am
you had to buy close of 1st 1min bull thrust candle on that data!
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Trader with an Edge.
  • #657,518
  • Apr 28, 2022 7:34am Apr 28, 2022 7:34am
Quoting swingtrade65
{quote} Why is everyone on this thread so determined to buy something that is in a clear downtrend? Spend your time looking for places to sell any rally
Because we have all seen clear downtrends turn into clear uptrends and vice versa.
Everyone can see the chart, but only a few can actually read it.
  • #657,519
  • Apr 28, 2022 7:36am Apr 28, 2022 7:36am
Quoting IBabyTrader
{quote} Very nice mate. Where do you think we can expect a bull resume back to 1.3x? Do you see anywhere near? I am thinking of start to buy from 1.237x area all the way up. Is that a good idea?
Sorry, forgot to mention. 1.3 too far yet for me. Just getting back to PERHAPS maintain the monthly ranging, we first need 1.29...

wait an extra couple of weeks and see how this move turns out. This is big moves, but still too fast, in my opinion.

Let's see where the +-10 days of news brings us.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #657,520
  • Apr 28, 2022 7:36am Apr 28, 2022 7:36am
... all done...final look at 1hr below
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