Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#674,461
Aug 10, 2022 2:30am Aug 10, 2022 2:30am

fontu
Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts

Quoting BeeTogether

Disliked

{quote} 12060 area looks as if it built like a brick. It’s not caving in at all. What I don’t know is how deep it will support if it does crack my thinking is around 12050 will still be an area of support.

Ignored

a n intermediate support for 2095 + play , now limit down 2077 anyway will look next time breaks down 2081 and hold to further lows breaking 2062!lets see

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Not understand?better not follow my analyses!doubt clearer first, risks ++

#674,462
Aug 10, 2022 2:32am Aug 10, 2022 2:32am

PatienceFx
Joined Jun 2013 | Status: enjoying life | 23,868 Posts

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#674,463
Aug 10, 2022 2:36am Aug 10, 2022 2:36am

PatienceFx
Joined Jun 2013 | Status: enjoying life | 23,868 Posts

Quoting patiencefx

Disliked

{image}

Ignored

cable above hourly, h4 and daily 20 sma

IMO a strong bullish sign

#674,464
Aug 10, 2022 2:40am Aug 10, 2022 2:40am

GODofMC
Joined Feb 2020 | Status: Monday-Friday | 1,161 Posts

Quoting GODofMC

Disliked

Adding more long, same lot {image}

Ignored

Closed all, at 2090 some resistent there , waiting retrace

10000% Wannabe . -$3000 & -$4000

Gold Recovery All Time Profit: -$3,961

#674,465
Aug 10, 2022 2:44am Aug 10, 2022 2:44am

Georginson
Joined Aug 2018 | Status: Research Analyst | 4,290 Posts

Quoting BeeTogether

Disliked

{quote} 12060 area looks as if it built like a brick. It’s not caving in at all. What I don’t know is how deep it will support if it does crack my thinking is around 12050 will still be an area of support.

Ignored

That 1.2060 looked like a strong support last week as well before it got cleanly broken to 1.2003, it will require strong fundamentals to break it cleanly. Today is perfectly poised for a gigantic range of between 140 - 180 pips.

Expect a break out...
Key levels are 1.2150 and 1.2060

✓A break of 1.2060 exposes 1.1890
✓A break of 1.2150 exposes 1.2290

If buying, simply put your stop at 1.2058
If selling, simply put your stop at 1.2152.

I'm selling with a position opened at 1.2135 and tight stop already applied at 1.2152.

Data + Stat + Risk/Emotions Management

#674,466
Aug 10, 2022 2:45am Aug 10, 2022 2:45am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

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yes yes yes

#674,467
Aug 10, 2022 2:46am Aug 10, 2022 2:46am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

G/M, a 2nd sub 30day adr day y/day and a 2nd dly pinbar type candle. Another small range Asian session, and now into early London session. Market awaits U.s Cpi later. 1hr currently rangy lol!

1hr below

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Trader with an Edge.

#674,468
Aug 10, 2022 2:47am Aug 10, 2022 2:47am

Jolita
Joined Jan 2012 | Status: Always Decisive | 4,425 Posts

Support sealed for now, up time.
Show must go on later!

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#674,469
Aug 10, 2022 2:57am Aug 10, 2022 2:57am

Reverso
Joined Apr 2022 | Status: Trader | 630 Posts | Online Now

Today's plan:

Go long if closed above daily upper key level of 1.21005, a close above that level also means broken the daily pivot, adding confidence to the trade. But beware of the rejection area 1.21381 - 1.21231, if price action clearly shows rejection pattern such as bearish engulfing, i would exit trade prematurely and switch to short, we better respect the resistance due to so far the rejection never fail yet.

Go short if closed below daily lower key level of 1.20599, a close below this level also means broken the support level of sideways, ending the ranging trend.

If price never reach the above mentioned scenario, it means low momentum sideways and saved me from trading the market today.

https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620

Freedom you deserve. All Time Return: 50.4%

#674,470
Aug 10, 2022 3:04am Aug 10, 2022 3:04am

Theoak
Joined Apr 2019 | Status: Trader | 5,796 Posts

Quoting Theoak

Disliked

{quote} There is support at 1.2066...and also yesterday's low 1.2063. She might have a few goes at this level, but its very strong support not sure there is enough momentum at present to crack it..

Ignored

Short in at 12088 sl 1.2094 target 1.2074

Out +3 pips

Don't trade what you think. Just what you see!!!

#674,471
Aug 10, 2022 3:07am Aug 10, 2022 3:07am

josip
Joined Dec 2015 | Status: Trader | 2,290 Posts

my view
S and R

just like yesterday and today, the support is important, whoever kept it, was victorious
if we break R1, we can reach the level of 1.2280
will see after news

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Trendlines H1,H4, SMC

#674,472
Aug 10, 2022 3:09am Aug 10, 2022 3:09am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

...bulls currently struggling to get upside of a prev 30min minor sw hi zone = prev res = pot res.
-------------------------------------------------------

Inflation in Germany looks like it may have topped out for now, will U.s see a fall later? Fxstreet calendar below...figure on the right is the prev, figure on left the forecast consensus.

1hr below, then fxstreet calendar extract

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Trader with an Edge.

#674,473
Aug 10, 2022 3:19am Aug 10, 2022 3:19am

Reverso
Joined Apr 2022 | Status: Trader | 630 Posts | Online Now

Quoting Reverso

Disliked

Today's plan: Go long if closed above daily upper key level of 1.21005, a close above that level also means broken the daily pivot, adding confidence to the trade. But beware of the rejection area 1.21381 - 1.21231, if price action clearly shows rejection pattern such as bearish engulfing, i would exit trade prematurely and switch to short, we better respect the resistance due to so far the rejection never fail yet. Go short if closed below daily lower key level of 1.20599, a close below this level also means broken the support level of sideways,...

Ignored

Sorry, decided to play by the range, entered long.
If the range is obvious enough, it's kind of foolish to not stick to it for the time being, range can last for many days, it can destroy trend following system if you're not flexible enough to switch mindset after the market show its card to you.

Entry 1.20858, SL 1.20620, TP 1.21214.

Hitting SL will mean bottom range broken, potentially continuing downtrend from days ago.

EDIT: it's easy to get analysis paralysis on days like this, upside is just as likely as downside, better off not trading if unsure, but i will risk it anyway since i have buffer from previous week wins. If hit SL, then let it serve as a lesson to me to not trade such situation again in future, pain is the best teacher.

https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620

Freedom you deserve. All Time Return: 50.4%