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Cable Update (GBPUSD)

  • #674,421
  • Aug 9, 2022 6:27pm Aug 9, 2022 6:27pm
Quoting ForexGoose
{quote} bulls put down their crack pipe for today, i guess but they might start smoking it again from 1.206, watch the chart
bulls, are you smoking crack from 1.206?
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #674,422
  • Aug 9, 2022 6:48pm Aug 9, 2022 6:48pm
Quoting Moty
I managed to end up with a relatively small loss because I started trading what the graph says should happen and not what I fantasize should happen {image}
The bulls fail the wave 5, and the movement changed for an wave 1 Daily. And now the target is the wave 2, around 70%.

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Together we can be strongest
Vantage Return This Month: na
  • #674,423
  • Aug 9, 2022 7:21pm Aug 9, 2022 7:21pm
My issue is that I'm just having trouble mapping the range. It's not normally this tricky.

It could even be that when we went to 2063 that we're done here and now on the upswing.
When I'm this confused I usually stay out.
  • #674,424
  • Aug 9, 2022 7:41pm Aug 9, 2022 7:41pm
The price in a range.

Scalpers paradise.
Intraday only.
  • #674,425
  • Aug 9, 2022 7:42pm Aug 9, 2022 7:42pm
Quoting boodvah
{quote} price been there 5 times on the 4h and twice on the daily since the leg down.
This kind of PA can also be called " consolidating 4 hr. "
Intraday only.
  • #674,426
  • Aug 9, 2022 8:03pm Aug 9, 2022 8:03pm
Quoting navk
{quote} This kind of PA can also be called " consolidating 4 hr. "
i see what you mean.
be a thinker before being a reacter
  • #674,427
  • Aug 9, 2022 8:10pm Aug 9, 2022 8:10pm
Looking for Short maybe at London session, the price should be higher a bit.
I think the USD news today will make GU dump to 1.198 or even lower

Be safe guys.
fflush was here
  • #674,428
  • Aug 9, 2022 8:12pm Aug 9, 2022 8:12pm
Quoting Moty
{image}if i was more openminded , and less Fixed in the opinion of where the market wants to go, I would make a lot of money today{image}
I think the same as you Moty, expect the price to go higher (Daily R1) to open short for this CPI.
Today we will make gains together
fflush was here
  • #674,429
  • Aug 9, 2022 9:44pm Aug 9, 2022 9:44pm
Can't it follow the head and shoulder pattern on daily chart and go to 1.2600?
  • #674,430
  • Aug 9, 2022 9:56pm Aug 9, 2022 9:56pm
Quoting mehedi529
Can't it follow the head and shoulder pattern on daily chart and go to 1.2600?
Not completed yet after 161.5% fib or 150 Pip below
  • #674,431
  • Aug 9, 2022 10:01pm Aug 9, 2022 10:01pm
I know that this has to go back up. The question is where.
Something tells me that we've already switched direction, but a drop back down without breaking yesterday's low might be a good entry point.
  • #674,432
  • Aug 9, 2022 10:04pm Aug 9, 2022 10:04pm
Closed all, waiting price to wake up from deep slumber
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10000% Wannabe . -$3000 & -$4000
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  • #674,433
  • Aug 9, 2022 10:14pm Aug 9, 2022 10:14pm
Quoting EvilEye
I know that this has to go back up. The question is where. Something tells me that we've already switched direction, but a drop back down without breaking yesterday's low might be a good entry point.
Hi! I hope this might help you.

The 5 Fundamental Truths of Trading:
1. Anything can happen.

2. You don’t need to know what is going to happen next to make money.

3. There is a random distribution between wins and losses for any given set of
variables that define an edge.

4. An edge is nothing more than an indication of a higher probability of one thing
happening over another.

5. Every moment in the market is unique.

Mark Douglas
Fortune favors the brave.
  • #674,434
  • Aug 9, 2022 10:21pm Aug 9, 2022 10:21pm
Very quiet Asia today
Intraday only.
  • #674,435
  • Aug 9, 2022 10:24pm Aug 9, 2022 10:24pm
Quoting GODofMC
Closed all, waiting price to wake up from deep slumber {image}
Name determines destiny brother
Stay low, Go fast - No luck, All skill
  • #674,436
  • Aug 9, 2022 10:32pm Aug 9, 2022 10:32pm
I know some people are buying that W pattern on the 1hr chart. And I am here just shaking my head. Just a glance at that 2060 area some call support, will tell you price is cooking to smash it and it will be forceful! It might be a single 100 pip candle. Lol...

Wait for spikes, sell it! Keep a reasonable SL. Don't be a bottom-fishing hero. It usually doesn't work. Today, I will wait for spikes to 2100 and short it. My TP are 2030 , 2000, and 1960 area.

Good morning.
  • #674,437
  • Aug 9, 2022 10:34pm Aug 9, 2022 10:34pm
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ITB - Seeing Orderliness amongst 'Randomness'
  • #674,438
  • Aug 9, 2022 10:39pm Aug 9, 2022 10:39pm
Below 1.20650 levels GU will breakdown. Else its ranging till CPI data. Nothing going positive for GU but its market never knows....
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  • #674,439
  • Aug 9, 2022 10:44pm Aug 9, 2022 10:44pm
Pending order: Short: 2104.
  • #674,440
  • Aug 9, 2022 10:50pm Aug 9, 2022 10:50pm
Support at 1.2079, like a wall, if broke will short!
Don't trade what you think. Just what you see!!!
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