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Cable Update (GBPUSD)

  • #668,361
  • Jul 10, 2022 11:08pm Jul 10, 2022 11:08pm
Quoting ScalaFX
Good morning, adding some longs now 1978
I don't think it is time yet. This thing might sink over 100 pips today.
  • #668,362
  • Jul 10, 2022 11:11pm Jul 10, 2022 11:11pm
If I was trading this pair I'de go short..
The candle is under 100 EMA & 10 EMA.
Good Luck
Attached Image (click to enlarge)
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  • #668,363
  • Jul 10, 2022 11:19pm Jul 10, 2022 11:19pm
Quoting Pat Chiko
{quote} Not sure what's new he's going to blame....... ( Besides, Brexit/Russia War) Given Britain’s political economy and the weak pound, the recent fall in the pound, monthly UK GDP, trade balance, and comments from BoE Governor Bailey may prove the it is best to have General Election now and he resign from BoE. £ has already dropped by 16% from peak feeding into inflation before oil Gas commodity and food price impact.
he is a very pessimistic guy, I'm sure he will say red things, maybe GBP will not fall but it is not going to help the buyers IMO
  • #668,364
  • Jul 10, 2022 11:24pm Jul 10, 2022 11:24pm
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  • #668,365
  • Jul 10, 2022 11:38pm Jul 10, 2022 11:38pm
Morning all. Crazy dump of the pound in the Asia man trading time zone. Not sure why? Anyway my longs from 2040 still open not going not close them just yet as move down is liquidity as Pat mentioned before. Maybe we have already seen todays low?
Insane in the Brain..
  • #668,366
  • Edited Jul 11, 2022 12:11am Jul 10, 2022 11:39pm | Edited Jul 11, 2022 12:11am
I closed my scalp short at 1967. Kept another pending short at 2000 in case London decides to spike it. My days of predictive trading is over. From today I have switched to reactive. I may no longer pick tops and bottoms, but will most times get very sure trades.

Making things simpler for myself. Good morning to all.
  • #668,367
  • Jul 10, 2022 11:57pm Jul 10, 2022 11:57pm
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  • #668,368
  • Jul 10, 2022 11:58pm Jul 10, 2022 11:58pm
I will post results at the end of the day. So far one of the trades is going well, the other not. I am happy how things are going so far though. See you after NY session.
  • #668,369
  • Jul 11, 2022 12:02am Jul 11, 2022 12:02am
Quoting Mitiblotch
I closed my scalpnshort at 1967. Kept another pending short at 2000 in case London decides to spike it. My days of predictive trading is over. From today I have switched to reactive. I may no longer pick tops and bottoms, but will most times get very sure trades. Making things simpler for myself. Good morning to all.
Exactly. Reversal trading is the most enjoyable when you get it right, but also the most riskier and more often than not, you will be wrong. Trend is a friend is one of those advices that actually work. Good Morning!
  • #668,370
  • Jul 11, 2022 12:05am Jul 11, 2022 12:05am
G/M, pretty much a sell-off from start of Asian session and early Ldn forex session has followed thru..testing a prev 1hr sw lo zone now - prev supp = pot supp.

1hr below
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Trader with an Edge.
  • #668,371
  • Jul 11, 2022 12:06am Jul 11, 2022 12:06am
Quoting PatienceFx
sold big with wide open targets wed, thu, friday usd news will take cable to 1400 levels {image}
the journey continues

* edited to replace chart
Attached Image (click to enlarge)
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  • #668,372
  • Jul 11, 2022 12:08am Jul 11, 2022 12:08am
Quoting franz
{image}{image}
Reason #1 why you should never copy others trade, instead learn and find out the reason why they took the trade and why you should or should NOT take the trade or trade against them
More time in the market, does not mean you trade better!
  • #668,373
  • Jul 11, 2022 12:20am Jul 11, 2022 12:20am
... updated. Rangy overall on this t/f right now. Intraday bearish so far.

1hr below
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Trader with an Edge.
  • #668,374
  • Jul 11, 2022 12:26am Jul 11, 2022 12:26am
Quoting Fardeen1209
{quote} Reason #1 why you should never copy others trade, instead learn and find out the reason why they took the trade and why you should or should NOT take the trade or trade against them
you have to know your weakness and use it, my weakness is that I can't predict more than 20 pips so after 12 pips I put SL at BE cause I know I cant see more than that, and you cant see your weakness and use it if you take trades from others BUT good advice is always taken by me!
  • #668,375
  • Jul 11, 2022 12:28am Jul 11, 2022 12:28am
...you can see how the 4hr bearish hidden div was present at fri's hi

4hr below
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Trader with an Edge.
  • #668,376
  • Jul 11, 2022 12:31am Jul 11, 2022 12:31am
Quoting ScalaFX
Good morning, adding some longs now 1978
Added 1965 1955 all under posiotions active too without SL
People don't plan to lose. They lose because they don't plan.
  • #668,377
  • Jul 11, 2022 12:39am Jul 11, 2022 12:39am
Quoting Pat Chiko
{quote} GU Partial pre LO. Long way down for liquidity. {image}

GU

Symmetrical Triangle
Attached Image (click to enlarge)
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After a severe fall, the pair is displaying a volatility squeeze.
The asset has turned sideways and is trading in a symmetrical triangle pattern.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,378
  • Jul 11, 2022 12:39am Jul 11, 2022 12:39am
Quoting erez h
{quote} you have to know your weakness and use it, my weakness is that I can't predict more than 20 pips so after 12 pips I put SL at BE cause I know I cant see more than that, and you cant see your weakness and use it if you take trades from others BUT good advice is always taken by me!
A good technique to stay in a trade is; Say you've entered on a 1min trigger, if the subsequently higher t/f candles close supportingly, stay in. So 3min, then 5min, then 15min, then 30min etc... so don't get shaken out by the t/f that got you in. As for move of stop - better to wait for the 1st pullback on your trigger t/f and price going higher/lower than that pullback hi/lo respectively, before move of stop to limit risk, or b/e.
Trader with an Edge.
  • #668,379
  • Edited 1:06am Jul 11, 2022 12:40am | Edited 1:06am
Attached Image (click to enlarge)
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  • #668,380
  • Jul 11, 2022 12:44am Jul 11, 2022 12:44am
Quoting PatienceFx
inspirational chart to add more longs {image}
The last time I was inspired was about 1983 so i'm afraid I don't find your chart ' inspirational ' lol!
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