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Cable Update (GBPUSD)

  • #657,661
  • Apr 29, 2022 11:41am Apr 29, 2022 11:41am
Have a good weekend all. Monday could be a slow burn with bank holiday in Uk
Insane in the Brain..
  • #657,662
  • Apr 29, 2022 12:02pm Apr 29, 2022 12:02pm
Quoting Georginson
{quote} That's now 162 pips bounce off the low of 1.2411... the expected bounce ought to be at least 680 pips but won't be in a straight line. Now the big questions are ✓Have we bottomed at 1.2411? ✓Can 1.2358 - 1.2250 be ruled out after a clean break of strong support of 1.2475 was cleanly broken yesterday? Failure of this bounce to break 1.2715 means price return to break 1.2358 - 1.2259 cannot be ruled out before final 1700 pips bounce to 1.41 will occur around December 2022... Trade with utmost caution, Cheers, George.
I have a question about the value of Low (range price) , which I posed in the form. Because of the weakness of the language, I can say it correctly
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There is nothing wrong with being kind & loving to each other
  • #657,663
  • Apr 29, 2022 12:05pm Apr 29, 2022 12:05pm
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  • #657,664
  • Apr 29, 2022 12:10pm Apr 29, 2022 12:10pm
Quoting BeeTogether
Have a good weekend all. Monday could be a slow burn with bank holiday in Uk
Asia make price
  • #657,665
  • Apr 29, 2022 12:22pm Apr 29, 2022 12:22pm
DX mf , your day has come , you will pay for every spike up
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yes yes yes
  • #657,666
  • Apr 29, 2022 12:24pm Apr 29, 2022 12:24pm
Update (and check my previous posts from today to see the evolution of the pattern)

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  • #657,667
  • Apr 29, 2022 12:24pm Apr 29, 2022 12:24pm
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Finally it went targets above still
  • #657,668
  • Apr 29, 2022 12:24pm Apr 29, 2022 12:24pm
Quoting Wavegarrick
{quote} Hi Guys, In Forex nobody knows where price will go. A saying that has always gotten me through, is " hope for the best but prepare for the worst". In my opinion money management is key. Today I closed one of my sell trades for 335 pips profit and got in at my key level at 1.24939 the long term 61.8% Fib retrace. Price action was relentless and went down a further 70 pips. I am still in the game with my sell trade pulling me through with 390 pips profit overall. I still believe however that we are at crucial levels. We are at my quarterly...
Hi Guys,
So far so good. I closed some of my weaker buy trades. If we close the week above 1.25000 and my long term 61.8% fib retrace at 1.24939 and more so above 1.25500 I see no problem for 1.2600. My future weekly pivot at 1.26051 should be attained. I am curious to see if price smashes through 1.26051 which could set the tone until the 20th of May next month until 1.28289 or further until 1.30257 (see chart). We are in a greater downtrend and I am cautious at this point, however I am picking up cyclic bullish hints from my indicators and will play PA as such.
Have a great weekend
Cheers.
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Trade to trade another day
  • #657,669
  • Apr 29, 2022 12:29pm Apr 29, 2022 12:29pm
Quoting mtako
{quote} Good thinking, sounds like one of the sayings I repeat to myself systematically, with an emotionless "next !" for me just crazy wicks still <2520 or >2590 and we'd be taking business! or just expanding the crazy wicks ranging war...
So bulls took over
next week we head to 1.2690 and then i need to re-assess the trend
  • #657,670
  • Apr 29, 2022 12:56pm Apr 29, 2022 12:56pm
Quoting RaHaG0D
{quote} I have a question about the value of Low (range price) , which I posed in the form. Because of the weakness of the language, I can say it correctly {image}
Friends, if you have information about the value of range prices and highs and lows, share it. Thank you
There is nothing wrong with being kind & loving to each other
  • #657,671
  • Apr 29, 2022 12:57pm Apr 29, 2022 12:57pm
That's all falks
91$ from 12 in 1 day, wow !!!
1 losing trade from 13 today
Just need to keep the rules of money management
Nice weekend to all
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yes yes yes
  • #657,672
  • Edited 1:19pm Apr 29, 2022 1:05pm | Edited 1:19pm
Maybe just a little wick on May's (month) candle to take out buy SLs and head for 1.2700 - 1.2800 in the interim. 3 bar reversal pattern. Strong 3rd bullish bar(Engulfing candle 2 red bars). Bullish expanding triangle/Ascending triangle(flip)/ possible H&S patterns confirm trend to be bullish.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #657,673
  • Apr 29, 2022 1:08pm Apr 29, 2022 1:08pm
Quoting elbert3
{quote} Morning as just posted on 61% now . Extension was 2618 if I remember from yesterday. But just woke and need to recheck on my pc . Any short move was 2380 is and 2250 . Let’s se what happens . Looking at my 5 min chart if I were playing it over night I would of had 5 added trades and 1 loss on the way I trade so definitely buyers were in and still are upto now .. Regards E
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As above 2 pips out . So that was 161% from the low which
h I had and was also a 161% so will it go higher or back lower that the low . Just out now but need my pc
  • #657,674
  • Apr 29, 2022 1:27pm Apr 29, 2022 1:27pm
Quoting Moty
That's all falks 91$ from 12 in 1 day, wow !!! 1 losing trade from 13 today Just need to keep the rules of money management Nice weekend to all {image} {image}
  • #657,675
  • Apr 29, 2022 1:35pm Apr 29, 2022 1:35pm
Sell 2600 see if the rules work
  • #657,676
  • Apr 29, 2022 2:05pm Apr 29, 2022 2:05pm
2280 !!??
  • #657,677
  • Apr 29, 2022 2:16pm Apr 29, 2022 2:16pm
The eur/aud is one crazy pair
It spiked 260 pips from that zone i mentioned
I caught only 100 of them
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yes yes yes
  • #657,678
  • Edited 3:00pm Apr 29, 2022 2:48pm | Edited 3:00pm
An exceptional week about to close in just over 1Hr. Another > 30 day adr day Friday @ a likely 176% of that metric, though this time a bullish day. A > 13wk awr and > 6mth amr week and month soon to close too.

* The week's 2410/11 lo saw o/s levels on the dly, and regular bullish div there on 4hr and 2hr oscillators.
* The mthly candle will close bearishly but likely with a bigger lower wick than upper wick. The t/f remains in a downtrend with it's last LL @ 3161, and last LH @ 3749.
* The wkly candle will also close similarly and the t/f too closes the week out still in a downtrend, it's last LL being @ 3600, and LH @3298.
* The dly candle will almost certainly close bullishly, perhaps as bullish engulfing re the gmt+3 dly candle. The last LL on this t/f is @ 2872 although there is a HL @ 2980, before it's last LH @ 3090. The t/f closes the week in a downtrend.
* The 4Hr t/f has now seen 1 x HL and what will likely firm up as a 2nd HL, a H, and what will be a HH when it forms fractally, this after the strong pullback today (Friday) off y/day's wkly lo of 2410/11. So obvious strength on this t/f but overall it closes the week bearishly really.
* 1Hr will almost certainly close the week in an uptrend.

Fundamentally speaking, continued and expanding warmongering talk (and actions) by Russia, the cost of living crisis made worse by this particular geopolitical situation, with particular emphasis on energy costs, and the psycho-drama that is the Uk tory govt, all helped a 'flight to safety' to the $ this week, the straight-line 'edge of a cliff' fall from 3090 triggered by those bad Uk retail sales numbers late last week. The rally off the 2410/11 wkly lo was in part technical,(oversold,) and was in very large part, sparked by the bad U.s GDP #, and surging inflation number, that came out on Thursday.

Until the market perceives that there are signs of improvement in the fundamentals, to spark a more 'risk-on' appetite, a sustained rally in this pairing remains lo in probability. This is not to say that we won't see more upside, and perhaps some ranging too. The technicals in very large part are a reflection of the fundamentals, not the other way around!

Mthly, Wkly, & Dly, below.
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Trader with an Edge.
  • #657,679
  • Apr 29, 2022 3:11pm Apr 29, 2022 3:11pm
Any body like the cryptic gold finger song lol
  • #657,680
  • Apr 29, 2022 3:12pm Apr 29, 2022 3:12pm
Quoting Moty
That's all falks 91$ from 12 in 1 day, wow !!! 1 losing trade from 13 today Just need to keep the rules of money management Nice weekend to all {image} {image}
That's nice. Big ups to you. I love it when I see people trade the crosses. I always grab easy pips on EURNZD,GBPNZD, EURCAD,GBPCAD, EURAUD,GBPAUD. They have nice flows. Invest more time on them because I feel like the Majors like GBPUSD, EURUSD are hugely traded and usually dont run a lot of pips and are usually manipulated. You'll rarely not make money on the crosses. Im so happy to see this. Keep it up.
Executing trades with precision!!
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