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Cable Update (GBPUSD)

  • #675,181
  • Aug 12, 2022 1:31am Aug 12, 2022 1:31am
Quoting Mitiblotch
The major worry is the fact that 57% are buying.
i suppose that could be buy orders which will have buy at certain areas. If the majority are thinking buy at 11960-11890 then we could see a slow drop towards there and buy trades kicking in
Insane in the Brain..
  • #675,182
  • Aug 12, 2022 1:33am Aug 12, 2022 1:33am
GU Daily. Morning. On the GBPUSD pair, an Inside bar pattern has formed, near the level of 1.2200. And it seems that there was a breakdown of the trend line, and it's time to believe in buying. But the price failed to update the last local high and stay above the level of 1.2200. Therefore, for now, I stick to the main downtrend and the bearish scenario. I'm looking at sales here, with the expectation of a fall to the 1.1900 area and below.
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IgorFX
  • #675,183
  • Aug 12, 2022 1:33am Aug 12, 2022 1:33am
Quoting BeeTogether
{quote} i suppose that could be buy orders which will have buy at certain areas. If the majority are thinking buy at 11960-11890 then we could see a slow drop towards there and buy trades kicking in
Oh I cannot wait till that area. I have a SL way before 2100 even. Lol.. Also today's data means that even if my SL hits I won't be selling no matter what. 2130 will be a hard nut to crack. If my SL hits I lose $250.
  • #675,184
  • Aug 12, 2022 1:34am Aug 12, 2022 1:34am
...2hr bullish hidden div is present and may stay a valid pattern on any deeper drop, so long as osc's stay below their zero axes, and whilst above 2062. Question is, is their an 8hr uptrend to enter after such a pullback to make it an optimum set-up? I don't have it on MT4 by default, ....30min would be the t/f to drop down to - to time entry if so.

...price has spent this week so far inside the hi and lo of last week's wkly candle. Will we see a b/o of either on last trading day of week today? Closer to the hi than lo at the moment.
Trader with an Edge.
  • #675,185
  • Aug 12, 2022 1:55am Aug 12, 2022 1:55am
Oh well, it's still going up
  • #675,186
  • Aug 12, 2022 1:59am Aug 12, 2022 1:59am
If we can't see breakout in US session, we all will see this pair move like there is no tomorrow on Monday or Tuesday.

I smell another ranging day. (Hope I'm wrong.)
With courage, patience, and discipline, success is a matter of time.
  • #675,187
  • Aug 12, 2022 2:01am Aug 12, 2022 2:01am
Should be enough data today to avoid a ranging day…
Insane in the Brain..
  • #675,188
  • Aug 12, 2022 2:03am Aug 12, 2022 2:03am
Quoting JameRomeo168
If we can't see breakout in US session, we all will see this pair move like there is no tomorrow on Monday or Tuesday. I smell another ranging day. (Hope I'm wrong.)
yes need a brekout
Blank and Empty
  • #675,189
  • Aug 12, 2022 2:05am Aug 12, 2022 2:05am
Quoting BeeTogether
Should be enough data today to avoid a ranging day…
I hope so my friend. Hope to catch some pips so I can enjoy EPL happily on weekend.
With courage, patience, and discipline, success is a matter of time.
  • #675,190
  • Aug 12, 2022 2:05am Aug 12, 2022 2:05am
Short @1.2200
Will add higher

SL and TP pending...
Face 'ur fears & tame 'ur greed
  • #675,191
  • Aug 12, 2022 2:07am Aug 12, 2022 2:07am
I am short
Look like rejection from Daily pivot
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yes yes yes
  • #675,192
  • Aug 12, 2022 2:10am Aug 12, 2022 2:10am
I hope GBP not pass my green areas
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  • #675,193
  • Aug 12, 2022 2:19am Aug 12, 2022 2:19am
GBPUSD: Since the change in the total value of all goods and services and also in the inflation-adjusted value by the British economy came out better than expected. There is hope for a sharp upward move in price.
If I follow my system, the outcome doesn’t define me — the process does.
  • #675,194
  • Aug 12, 2022 2:19am Aug 12, 2022 2:19am
Short 1.2200
There is nothing wrong with being kind & loving to each other
  • #675,195
  • Edited 2:45am Aug 12, 2022 2:25am | Edited 2:45am
Quoting Reverso
Plans for today: 1. Daily pivot placement is higher than yesterday, I always calculate them before London opens and plan ahead. What the placement means is that for the uptrend to continue, by London open the price is to be above the Daily pivot for today (1.22042 - 1.22155), if price below it after London opens, Shorts will be focused. 2. If price managed to stay above daily pivot, there is a potential the ranging trend is here already again, look at the touches at the top and bottom, even if I have a Long signal, I would be careful and will actually...
Go Long if close above 1.22193, a close above this level also means breaking the daily pivot, giving extra confidence to the trade. SL 1.22042 which is the lower end of daily pivot, if the SL is tight for you, you may consider 1.21945. But be careful of resistance area starting from 1.22461, a clean rejection from here I will switch direction to Short, SL will be recent high.

Go Short if close below 1.21818, SL 1.22066, the daily pivot placement is towards the high side of the daily range, which means lean towards bearish bias. The support for the current ranging period happens to be near the daily lower key level, ideally a close also breaks the support 1.21769, which can add confidence to the Short.

But overall it feels like a ranging day, with a slight preference over to Short bias. Maybe the gap needs to be filled after a monster candle printed on this Wed, went up too fast too furious, and needed to chill and go down, before resuming the general uptrend.

Will go Long or Short based on which scenario plays out that are mentioned above, no emotion/subjectivity involved, just rules.
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  • #675,196
  • Aug 12, 2022 2:25am Aug 12, 2022 2:25am
Quoting Reverso
{quote} No I do not have a moving SL, if SL is hit, I lose exactly 2.50% of my account, if I move my SL further away, it will also mean my loss for that trade if hit SL will be bigger, which is not ok. Sometimes, if the trade did not have an outcome for the day, and carry on to the next day, if the Daily pivot bias contradict with the ongoing trade, for example the next day daily pivot bias is bearish but I have an ongoing Long, then I would exit when the London opens, which also means a smaller SL because I did not let it run to the SL. So my loss...
Quote
"No I do not have a moving SL, if SL is hit, I lose exactly 2.50% of my account, if I move my SL further away, it will also mean my loss for that trade if hit SL will be bigger, which is not ok"

When I asked you about a moving S/L my thoughts were more on your S/L being moved towards your T/P so that if you just missed your T/P and the market reversed strongly your S/L would then be closer and thus your lose for that trade would be less.
  • #675,197
  • Aug 12, 2022 2:26am Aug 12, 2022 2:26am
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yes yes yes
  • #675,198
  • Aug 12, 2022 2:29am Aug 12, 2022 2:29am
GBPUSD 1 mn

Focal Points
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  • #675,199
  • Aug 12, 2022 2:30am Aug 12, 2022 2:30am
London. Let's see now..if nothing happens now, then whatever..
Indicator saying sell Pound.
1.2185..BREAK IT DOWN ALREADY haha
This is their mark 37 38 minutes after open. Come on London...
  • #675,200
  • Aug 12, 2022 2:33am Aug 12, 2022 2:33am
Gbpusd has quite a way to go down
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