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Cable Update (GBPUSD)

  • #668,881
  • Jul 12, 2022 5:06am Jul 12, 2022 5:06am
Hey guys!
See my newest chart on gbpusd.
Bullish Butterfly on H1
Risk Management is of utmost importance!
  • #668,882
  • Jul 12, 2022 5:07am Jul 12, 2022 5:07am
Quoting Mitiblotch
{quote} Pending long at 0991 just for fun. I need an adrenaline rush! Lol
Just bought 0023. Just a little (0.1) and it is predictive and not reactive. Please don't follow. It can go wrong.

Edit: closed with +1. Lol... I will buy it lower.
  • #668,883
  • Jul 12, 2022 5:12am Jul 12, 2022 5:12am
Quoting BeeTogether
{quote} i can’t see a rise above 119 today even then it will be a tough to go over 11930 unless UK data tomorrow helps drive that?

we cant see where the market is going we just draw line.
MY OPINION NOT FINANCIAL ADVISE
  • #668,884
  • Jul 12, 2022 5:15am Jul 12, 2022 5:15am
Bought again at 0022. Hehe... playing hide and seek with price.
  • #668,885
  • Jul 12, 2022 5:18am Jul 12, 2022 5:18am
Gu buy
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  • #668,886
  • Jul 12, 2022 5:18am Jul 12, 2022 5:18am
Quoting Moty
i believe the eu will get support from here {image}
Hi Moty,

Logical thought and very possible in the near term but this monthly is just breaking a 7yr support …

May be it's Dead cat bounce with 0.85 coming

Need to watch EU will possible break through tomorrow 8:30am eastern time when (CPI) US inflation higher than expected.

"Support is only support while it holds"
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,887
  • Jul 12, 2022 5:19am Jul 12, 2022 5:19am
...current p/back hi of the day's move down exceeded 38.2% of that move into that prev 30min sw lo zone = prev supp = pot sbr.

1hr and 4hr below

...on dly that prev sw lo zone that starts @ 1876 - circa 1912 is the 1st potential sbr on that t/f

dly below
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Trader with an Edge.
  • #668,888
  • Jul 12, 2022 5:24am Jul 12, 2022 5:24am
Quoting ScalaFX
{quote} Congratulations men! Ideally played, lets see now new impuls happen, cheers!
is it okay here? is the war over?
https://breakpullback.com
  • #668,889
  • Jul 12, 2022 5:25am Jul 12, 2022 5:25am
Quoting Pat Chiko
{quote} Hi Moty, Logical thought and very possible in the near term but this monthly is just breaking a 7yr support … May be it's Dead cat bounce with 0.85 coming Need to watch EU will possible break through tomorrow 8:30am eastern time when (CPI) US inflation higher than expected. "Support is only support while it holds"
Maybe, it's a scenario! The Eur and german ZEW prints earlier no doubt added to €'s woes. I agree re support, for me previous support is only ever potential support. It's when price reaches a pre-identified pot supp/res/sbr/rbs level/zone that PA and other tech tools/studies if used, might give us clues as to whether a bounce or break will occur.
Trader with an Edge.
  • #668,890
  • Jul 12, 2022 5:27am Jul 12, 2022 5:27am
Quoting Pat Chiko
{quote} Hi Moty, Logical thought and very possible in the near term but this monthly is just breaking a 7yr support … May be it's Dead cat bounce with 0.85 coming Need to watch EU will possible break through tomorrow 8:30am eastern time when (CPI) US inflation higher than expected. "Support is only support while it holds"
yes, last 2 reports sent prices crashing.

I expect the samething tomorrow too.

But, until news report, I will not be surprised if current support for eu and gu holds.
Intraday only.
  • #668,891
  • Jul 12, 2022 5:34am Jul 12, 2022 5:34am
Quoting Headland
{quote} Maybe, it's a scenario! The Eur and german ZEW prints earlier no doubt added to €'s woes.
Been a Hell of a last 2 years for the Zew.
From -51 to +83 to -53.
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Central Bank intervention seems to have short circuited the traditional economic cycle.

EU at 1.05 which may soon become resistance.
Europe will be an economic Disaster within the next years
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,892
  • Jul 12, 2022 5:36am Jul 12, 2022 5:36am
Eurusd short
sl 1.00438
tp 0.9889
My telegram: https://t.me/avidforex
  • #668,893
  • Jul 12, 2022 5:38am Jul 12, 2022 5:38am
Quoting Pat Chiko
{quote} Hi Moty, Logical thought and very possible in the near term but this monthly is just breaking a 7yr support … May be it's Dead cat bounce with 0.85 coming Need to watch EU will possible break through tomorrow 8:30am eastern time when (CPI) US inflation higher than expected. "Support is only support while it holds"
Large orders are booking profit before CPI?
More time in the market, does not mean you trade better!
  • #668,894
  • Jul 12, 2022 5:40am Jul 12, 2022 5:40am
Quoting Pat Chiko
{quote} Been a Hell of a last 2 years for the Zew. From -51 to +83 to -53. {image} Central Bank intervention seems to have short circuited the traditional economic cycle. EU at 1.05 which may soon become resistance. Europe will be an economic Disaster within the next years
Yeh, I think that ship has already sailed as it were re all western democracies, ie what we call 'the west,' are economic disaster zones to varying degrees. We'd better hope though that the west survives or we will have a Russia/China/Iran - centric world!!
Trader with an Edge.
  • #668,895
  • Jul 12, 2022 5:44am Jul 12, 2022 5:44am
BOE had not yet mitigate Inflation, some news are already talking about BOE rate cut in 2023
More time in the market, does not mean you trade better!
  • #668,896
  • Jul 12, 2022 5:44am Jul 12, 2022 5:44am
Quoting Fardeen1209
{quote} Large orders are booking profit before CPI?
The dollar keeps strengthening, with DXY now at its highest level since 2002.
This is a euro story, with fears of recession growing on the heels of a potential gas cutoff, and a yen story, with Japan's extreme monetary policy divergence.

But it's also the stuff-a-mattress trade
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,897
  • Jul 12, 2022 5:45am Jul 12, 2022 5:45am
Quoting Fardeen1209
{quote} Large orders are booking profit before CPI?
It’s also a currency swaps story.

US is also facing a recession, and the Fed’s monetary policy is/was just as extreme and foolish.
This is not just a Euro and Yen story.

The USD itself is also being manipulated.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,898
  • Jul 12, 2022 5:46am Jul 12, 2022 5:46am
Ok I closed my whole short position 1830 1845 1840 to collect profits.
Will now wait for next setup to come.

Good luck every one
90% of traders use TA, indicators and prediction
  • #668,899
  • Jul 12, 2022 5:52am Jul 12, 2022 5:52am
Quoting Fardeen1209
BOE had not yet mitigate Inflation, some news are already talking about BOE rate cut in 2023
It's a difficult balancing act for central banks/monetary policy because if you raise rates too much and suck too much demand out of the economy [although you need to limit some so supply exceeds demand and prices fall,] you risk a recession, but if you don't do anything, then it runs away with itself. Whilst there are always winners and losers with inflation, it is essentially a tax on money so those with least of it are disproportionately affected by it. Blunt tools these central banks/politicians have, and this is to say nothing of the risk of so-called stagflation...ie low growth/hi inflation like the 1970's.
Trader with an Edge.
  • #668,900
  • Jul 12, 2022 5:53am Jul 12, 2022 5:53am
Quoting Pat Chiko
{quote} The dollar keeps strengthening, with DXY now at its highest level since 2002. This is a euro story, with fears of recession growing on the heels of a potential gas cutoff, and a yen story, with Japan's extreme monetary policy divergence. But it's also the stuff-a-mattress trade {image}
time to sell usd if we stay below white line
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Trendlines H1,H4, SMC
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