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Cable Update (GBPUSD)

  • #678,561
  • Aug 26, 2022 5:05am Aug 26, 2022 5:05am
Quoting BeeTogether
{quote} Even with the red sticker data and Fed Powell conference?
need to see at the time , depending upon actual values , but untill now , it kinda looks like a sell for me ..
Blank and Empty
  • #678,562
  • Aug 26, 2022 5:06am Aug 26, 2022 5:06am
Quoting BeeTogether
{quote} GU to 1.29?
1.1925 imo today.

as long the low of today stand

it was a typo, fixed it
  • #678,563
  • Aug 26, 2022 5:07am Aug 26, 2022 5:07am
Quoting TheFxLord
{quote} Perhaps, USD bulls don't like Powell...
dollar looks a sell now , but lets see..if news comes good ...closing right away
Blank and Empty
  • #678,564
  • Aug 26, 2022 5:17am Aug 26, 2022 5:17am
Quoting bilal1947
GU - Long - 5 pip SL (looks like entered way early) SL hit {image}
GU - price hit SL and goes against 10 pips and up now (50+ pips)
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 211 KB
"Exchange of hands"
  • #678,565
  • Aug 26, 2022 5:20am Aug 26, 2022 5:20am
Quoting Whale
{quote} 1.1925 imo today. as long the low of today stand it was a typo, fixed it
Got a bit excited there lol.. 1.29 is a long term target
Insane in the Brain..
  • #678,566
  • Aug 26, 2022 5:24am Aug 26, 2022 5:24am
Quoting bilal1947
EU long: {image}
EU : Update (60 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 117 KB
"Exchange of hands"
  • #678,567
  • Aug 26, 2022 5:31am Aug 26, 2022 5:31am
Quoting DailyChart
{quote} Target and Wait {image}
When you are that DailyChart... what about this target?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB
  • #678,568
  • Aug 26, 2022 5:39am Aug 26, 2022 5:39am
Quoting BeeTogether
{quote} Got a bit excited there lol.. 1.29 is a long term target
What so bad with 1.1925
  • #678,569
  • Aug 26, 2022 5:39am Aug 26, 2022 5:39am
Quoting Whale
{quote} 1.1925 imo today. as long the low of today stand it was a typo, fixed it
Today is a battle between 1.1935 versus 1.1645...

1.1935 = 50% chance
1.1645 = 25% chance
None of the above = 25% chance...

Get ready for potential price break out ...
Data + Stat + Risk/Emotions Management
  • #678,570
  • Edited 5:51am Aug 26, 2022 5:40am | Edited 5:51am
Took a good look at the pivot location for the past few days, noticed the current trend is ranging now, support pivot gets broken to downside, resistance pivot gets broken to upside, a clear trend is when the pivot location is getting higher and higher after each day, also supporting the price not letting it break thru pivot, clearly this is not the case here. One day the pivot is bullish, then the next day pivot is bearish.

By system rule, today's pivot is bearish, but price has broken it with ease today. Since the price has traveled to the upside quite far already, also today's pivot range is very thin (using pivot as SL is not viable), taking long seems less attractive despite this is as per system.

I am going to wait for reversal to the downside to take Short, close below 1.18238 will do, SL recent high.
Today's trading basically is trading reversal/rejection, not trend trading until market broke the ranging pattern.

If i dont get this trade, then no trade today. This week result is good enough.
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  • #678,571
  • Aug 26, 2022 5:47am Aug 26, 2022 5:47am
Bottled it. Pulled the plug on this. Question is momentum or resistance?
Don't trade what you think. Just what you see!!!
  • #678,572
  • Aug 26, 2022 5:47am Aug 26, 2022 5:47am
i have to spruce up on core fundamentals. i cant understand the range here and whats forcing it from a fundamental stance.
be a thinker before being a reacter
  • #678,573
  • Aug 26, 2022 5:51am Aug 26, 2022 5:51am
Quoting Reverso
Took a good look at the pivot location for the past few days, noticed the current trend is ranging now, support pivot gets broken to downside, resistance pivot gets broken to upside, a clear trend is when the pivot location is getting higher and higher after each day, also supporting the price not letting it break thru pivot, clearly this is not the case here. One day the pivot is bullish, then the next day pivot is bearish. By system rule, today's pivot is bearish, but price has broken it with ease today. Since the price has traveled to the upside...
Took a cute Long just now, based on:

1. After price broken pivot to upside, subsequent few candles actually retested the pivot before producing another bullish candle.
2. Continuing from point 1, that bullish candle produced broke an area that has a lot of price reactions (in other words, S/R).
3. As per system, trade the opposite direction if pivot broke.
4. There is enough room to TP before hitting any major wall.

I can afford to lose this if it doesn't end well, had 4 win days this week.
It will be a bonus if this turned out to be TP, let's see.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 21 KB
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  • #678,574
  • Aug 26, 2022 5:55am Aug 26, 2022 5:55am
Quoting Georginson
{quote} Today is a battle between 1.1935 versus 1.1645... 1.1935 = 50% chance 1.1645 = 25% chance None of the above = 25% chance... Get ready for potential price break out ...
for me long only brother. Its our day.
i may wrong, im trading according my plan.
  • #678,575
  • Aug 26, 2022 6:03am Aug 26, 2022 6:03am
Quoting Whale
{quote} What so bad with 1.1925
Actually for me I’d be more than happy with that area. Means my loss won’t be as bad as it’s now. Remember I’m long at 12010 when I tried to be too clever and aim for 20 pips retrace to go short from
Insane in the Brain..
  • #678,576
  • Aug 26, 2022 6:04am Aug 26, 2022 6:04am
Quoting Theoak
Bottled it. Pulled the plug on this. Question is momentum or resistance?
Not sold on the bear ride and not sold on the bull ride!! What do we do? Sit on hands!
Don't trade what you think. Just what you see!!!
  • #678,577
  • Aug 26, 2022 6:05am Aug 26, 2022 6:05am
Quoting Theoak
{quote} Not sold on the bear ride and not sold on the bull ride!! What do we do? Sit on hands!
It’s time for just eat to deliver lunch
Insane in the Brain..
  • #678,578
  • Aug 26, 2022 6:05am Aug 26, 2022 6:05am
Quoting Whale
{quote} for me long only brother. Its our day. i may wrong, im trading according my plan.
I will wait 3 minutes before 1:30pm UK time(US News) before deciding which direction to trade ... Whichever way it's going to be quite a dramatic final day of the week... Fridays are known for Account burning and growing...
Data + Stat + Risk/Emotions Management
  • #678,579
  • Aug 26, 2022 6:08am Aug 26, 2022 6:08am
No action on any pair so far... all waiting for the news PCE or perhaps Powell.
  • #678,580
  • Aug 26, 2022 6:12am Aug 26, 2022 6:12am
Quoting Georginson
{quote} I will wait 3 minutes before 1:30pm UK time(US News) before deciding which direction to trade ... Whichever way it's going to be quite a dramatic final day of the week... Fridays are known for Account burning and growing...
I will buy any deep after the news.. will update.
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