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Cable Update (GBPUSD)

  • #677,121
  • Aug 19, 2022 10:25am Aug 19, 2022 10:25am
Quoting Theoak
{quote} 20 more pips please and I'm going down the pub to join the rest of the bears. Bulls you will have to stay in and drink water. Anyone watching the cricket?
Off to the pub... Happy Days.. And that multimillionaire can get the first round in.. LOL
Don't trade what you think. Just what you see!!!
  • #677,122
  • Aug 19, 2022 10:30am Aug 19, 2022 10:30am
In this kind of dump, supports will fail. Solution, ignore this pair unto other pairs. Shorting here will be scary and buying here can still be nightmarish.

@Beetogether I was asking if you live in Glasgow or go there or something. I need to ask some questions.
  • #677,123
  • Aug 19, 2022 10:35am Aug 19, 2022 10:35am
Scalp time. Little bites here and there will make a full cup.
Attached Image (click to enlarge)
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  • #677,124
  • Aug 19, 2022 10:38am Aug 19, 2022 10:38am
Quoting navk
today and yesterday are the days, most of our TA failed.
navk, don't include me and other bears in this group...
Always trade your own plan...I don't provide trading signals.
  • #677,125
  • Aug 19, 2022 10:39am Aug 19, 2022 10:39am
Gbpjpy tp 162.500
  • #677,126
  • Aug 19, 2022 10:40am Aug 19, 2022 10:40am
Been standing by all day for a decisive bounce.

Oh jeez, could this be it?
  • #677,127
  • Aug 19, 2022 10:41am Aug 19, 2022 10:41am
Quoting Coreg2004
{quote} navk, don't include me and other bears in this group...
Agree.

You are master trader. I luv your charts always. Not misleading but straight forward.

The thing is most here are scalpers.

Buy and sell trades.

Not in one direction trade.

These trades will be successful when PA is ranging.
Intraday only.
  • #677,128
  • Aug 19, 2022 10:44am Aug 19, 2022 10:44am
Quoting Pat Chiko
GU Scalp Long for the Road.......... {image}
GU

Very Noty candle trying to sucker punch.......

Let go up a bit for tiny profit...
Attached Image (click to enlarge)
Click to Enlarge Name: gu 351.jpg Size: 166 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #677,129
  • Aug 19, 2022 10:46am Aug 19, 2022 10:46am
Quoting navk
{quote} Agree. You are master trader. I luv your charts always. Not misleading but straight forward. The thing is most here are scalpers. Buy and sell trades. Not in one direction trade. These trades will be successful when PA is ranging.

we are all novice cus we only predict the market is master
MY OPINION NOT FINANCIAL ADVISE
  • #677,130
  • Aug 19, 2022 10:47am Aug 19, 2022 10:47am
Quoting Coreg2004
{quote} navk, don't include me and other bears in this group...
On a sell day ( when low of previous day broke ) it is dangerous to go long any where.

Vice versa.

May be as a scalper sometimes, we may get few pips. But not every day.
Intraday only.
  • #677,131
  • Aug 19, 2022 10:48am Aug 19, 2022 10:48am
Quoting donfriday
{quote} we are all novice cus we only predict the market is master
Did you miss me? Because I missed a bit
  • #677,132
  • Aug 19, 2022 10:49am Aug 19, 2022 10:49am
Quoting Pat Chiko
{quote} GU Very Noty candle trying to sucker punch....... Let go up a bit for tiny profit... {image}
UJ

This is inverse of GU on QM zone

Even this guy too want to have his sucker punch.............
Attached Image (click to enlarge)
Click to Enlarge Name: uj 052.jpg Size: 122 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #677,133
  • Aug 19, 2022 10:51am Aug 19, 2022 10:51am
Technically, these moves are justified if one looks at the HTF.

If you notice in the screenshots attached below both the monthly and weekly chart of the dollar index has been bullish. 2 months ago, price reacted on a monthly buy zone which has been the fuel for the unending bullish moemtum for the dollar, so every obstacles on the way will be crushed until it fufills its objective.

Attached Image (click to enlarge)
Click to Enlarge Name: DXY_2022-08-19_16-33-09.png Size: 50 KB
Attached Image (click to enlarge)
Click to Enlarge Name: DXY_2022-08-19_16-53-55.png Size: 71 KB


For GU, if you look closely at the monthly chart, you will see a monthly box i drew, well, that was the last bullish zone, if price wanted to continue moving up it would have since it took out July's high, instead it rejected afterwards. What is the next logical place for price to visit from GU's zoomed monthly chart?

From the weekly perspective, last week's candle closed bullish with a long wick showing rejection to the upside. Not only last week, but for the last 3 weeks...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2022-08-19_16-40-44.png Size: 65 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2022-08-19_16-41-34.png Size: 67 KB


Now looking at the DXY and GU and knowing both objectives, this begs the question, will GU take out July's low or will the USD, mitigate 50% of July's high?

As I said in my earlier post, no matter the manipulation large operators still leave prints when trying to hide their intentions.

Having said that, happy trading.

Kind regards.
  • #677,134
  • Aug 19, 2022 10:52am Aug 19, 2022 10:52am
Quoting navk
{quote} Agree. You are master trader. I luv your charts always. Not misleading but straight forward. The thing is most here are scalpers. Buy and sell trades. Not in one direction trade. These trades will be successful when PA is ranging.
navk, I don't have a problem with either ranging or trending markets. I watch closely other traders' opinions here in case I have too strong bias in one direction. My A$$ was saved more times than I can remember, and I am grateful for it. I try to reciprocate with my posts.
Always trade your own plan...I don't provide trading signals.
  • #677,135
  • Aug 19, 2022 11:00am Aug 19, 2022 11:00am
Quoting Whale
{quote} Did you miss me? Because I missed a bit

scalping long at 1.1750
MY OPINION NOT FINANCIAL ADVISE
  • #677,136
  • Aug 19, 2022 11:01am Aug 19, 2022 11:01am
Quoting donfriday
{quote} scalping long at 1.1750
I think price is at 1.181 right now.
  • #677,137
  • Aug 19, 2022 11:02am Aug 19, 2022 11:02am
On a strongly trending day going against the trend(@ 'real' pre-identified potential supp/res) is fine if you recognize that it is more likely (not certain) to be just a pullback and at some point price will likely (not certainly) continue in the 'with trend' direction. Of course the greater the deviation from the mean, and from the daily pivot and particularly when > adr, the greater the chance becomes of a more 'meaningful' pullback. In a strongly trending market it is more likely (not certain) that supp's/res's will be busted through even if a pullback happens first.

You are generally better selling/buying the pullbacks when it is a strong trend than trying to guess where the bottom/top is and hoping for a complete reversal in the trend. And remember an uptrend will be overbought (o/b) and vice versa. That's what a trend is.

I see here all the time, people get into all sorts of trouble because they hold an anti-trend trade too long and then it becomes a hope trade. Partly for some it's because they fall into the 'this must be the bottom/top, it can't go any further' trap or 'my osc's are o/b or o/s,' and partly for some, it's because they think they can predict the market.
Trader with an Edge.
  • #677,138
  • Aug 19, 2022 11:03am Aug 19, 2022 11:03am
time to eat.

bye all.
Intraday only.
  • #677,139
  • Aug 19, 2022 11:05am Aug 19, 2022 11:05am
Quoting Whale
{quote} I think price is at 1.181 right now.

but we are going 1750 next week No doubt possible 1.15
MY OPINION NOT FINANCIAL ADVISE
  • #677,140
  • Aug 19, 2022 11:06am Aug 19, 2022 11:06am
Quoting donfriday
{quote} but we are going 1750 next week No doubt possible 1.15
Maybe.
i dont know to be honest.
so Q3 will not meet with your initial target?
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