Cable Update (GBPUSD)

Quoting Mitiblotch

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{quote} Happy for your pips. Sometimes I cannot fully explain what I see on the chart. But here is my thought process. There are other factors, which I have mentioned before and one of them being that the bottom at 2430 was not made by London or NY. It was made by Asia and in my experience bottoms or tops set by Asia are fakes. They will get tested again in a few days time. So, 2430 was a must for me, and it must happen with London getting in on the move. Today is an example. For other points see the image below: NB: on the daily chart, the bearish...

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Quoting ScalaFX

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{quote} 2411 next, 50% fibo all move up, pendings waiting, when more down I will be managings with shorts, fingers crossed

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Quoting MrFanciful

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"Dollar goes up after higher than expected CPI because investors think the Fed will start tackling inflation" BUUULLLLLLLSHHHHIIIIIITTTTTT

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Quoting Headland

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..nice drop on the knee-jerk react and then a bounce from the prev 1hr sw hi zone = prev res = pot rbs mentioned earlier...4 fib cluster 2430-40 ( 3 shown on chart below.) Now selling from that cluster in that prev 1hr/4hr sw lo zone that rates @ 2430 = prev supp = pot sbr. 1hr below {image}

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Quoting RaHaG0D

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I learned from my teacher that the waves must fill 50% of the previous wave (to complete that wave) and if it does not fill 50%, there will be targets that will surely be filled later. There is also 50% of the middle wave I see simple {image}

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Quoting MrFanciful

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"Dollar goes up after higher than expected CPI because investors think the Fed will start tackling inflation" BUUULLLLLLLSHHHHIIIIIITTTTTT

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Quoting BeeTogether

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{quote} That 2430 area is the one that needs to break for any chance of a 125 return

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