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Cable Update (GBPUSD)

  • #706,661
  • Nov 11, 2022 12:34pm Nov 11, 2022 12:34pm
Quoting nishantforex
{quote} As said earlier we are heading for new highs on Monday....
I hope that this week I learned that you don't assume where the money will go but follow it to be successful with forex trading
  • #706,662
  • Nov 11, 2022 12:35pm Nov 11, 2022 12:35pm
Quoting Wavegarrick
{quote} Hi Guys, Over confidence got the better of me today and I tried to scalp against momentum. I took some some wins and losses but overall a losing day. It is what it is and I move on. the overall picture looks good for bulls, which could turn out to be a full bodied weekly candle, very bullish in my opinion. Last stand at 1.18000, Cheers. {image}
Today's Market Behavour was not strange, as I have observation that any strong fundamental move (with pips more that ADR), usually don't get retrace and continue previous day move with almost same momentum. That's why to stay away sometimes is good idea. Until some setup is clear.
  • #706,663
  • Nov 11, 2022 12:39pm Nov 11, 2022 12:39pm
1.1883 is a very safe area to load heavy short... High of this month may be recorded tonight.
Data + Stat + Risk/Emotions Management
  • #706,664
  • Nov 11, 2022 12:40pm Nov 11, 2022 12:40pm
Quoting Georginson
{quote} You are right about the year 2020 style, the price is absolutely bullish and looks almost set to buy till year end and even first quarter of year 2023... Daily, weekly and monthly has started showing higher lows and higher highs... Here is the current daily and weekly sequence... ✓ 1.0923... 1.1493 ✓ 1.1060... 1.1645 ✓ 1.1146... 1.???? ... Perhaps will connect to 1.1850... Then a correction from 1.1850 to 1.1295 - 1.1411 area before another mighty rocket... In summary, I expect at least 350 - 500 pips correction from...
If it goes to 1.13 it will cancel what i think

But 1.14/1.16 yes, before another leg up, same for Euro above parity, and same for equities (with 5% drop or so)
If all in synce, there is a big chance of a fat rally
COT: The precious data ignored
  • #706,665
  • Nov 11, 2022 12:42pm Nov 11, 2022 12:42pm
Quoting JayBag
{quote} If I am being honest with you, the minute we brake 11770, 1.184408 is the next target followed by possible extension. Well. at least, my view. Bears may end up holding the bag today
Justin, Great to see you back, Just have to love your positive spirit
Trade to trade another day
  • #706,666
  • Nov 11, 2022 12:42pm Nov 11, 2022 12:42pm
Quoting Indigo45
{quote} Not Yet, Wild Bulls are not yet ready to give up.
just peeking, if its ok with you
Attached Image (click to enlarge)
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #706,667
  • Nov 11, 2022 12:45pm Nov 11, 2022 12:45pm
Quoting Indigo45
{quote} Today's Market Behavour was not strange, as I have observation that any strong fundamental move (with pips more that ADR), usually don't get retrace and continue previous day move with almost same momentum. That's why to stay away sometimes is good idea. Until some setup is clear.
You hit it on the nail. Thanks Indigo
Trade to trade another day
  • #706,668
  • Nov 11, 2022 12:47pm Nov 11, 2022 12:47pm
Quoting Coreg2004
{quote} Houtbay, min extension for the week has been hit, weekly range is @140% of weeklyATR(14) 505pips. Now I bet on the second leg down if a bearish Gartley pattern gives me an entry on the 3M chart. {image}
The wrong bet, short never activated, longs never entered...lost afternoon. Whale was correct to wait for the dollar index to drop to PRZ.
Attached Image(s) (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #706,669
  • Nov 11, 2022 12:49pm Nov 11, 2022 12:49pm
Bulls are not finished..
  • #706,670
  • Nov 11, 2022 12:49pm Nov 11, 2022 12:49pm
Quoting elbert3
This has been a hard day on 1 and 5 mm charts trying to catch it out only for it to keep longs . We shall get that retrace
Wishing you a great next week
"Exchange of hands"
  • #706,671
  • Nov 11, 2022 12:50pm Nov 11, 2022 12:50pm
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Quoting Georginson
1.1883 is a very safe area to load heavy short... High of this month may be recorded tonight.
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put the resistance line into the four hour chart but it’s broke the tl on what I have ..it’s still above the ema around this level .so waiting now . Back to the rules again . Regards E
  • #706,672
  • Nov 11, 2022 12:53pm Nov 11, 2022 12:53pm
Have to go with the break but the spread here now might not be enough pip movement to even get to break even . But let’s try
  • #706,673
  • Nov 11, 2022 12:57pm Nov 11, 2022 12:57pm
Quoting Wavegarrick
{quote} Justin, Great to see you back, Just have to love your positive spirit
Thank you so much, bro. I am honestly glad to be back to what I genuinely LOVE. I haven't been able to touch charts for months due to a significant loss (Not money related). Took me a lot of healing to be back here.

Cheers bro
  • #706,674
  • Nov 11, 2022 12:57pm Nov 11, 2022 12:57pm
Attached Image (click to enlarge)
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Milking every pip out of it .
  • #706,675
  • Nov 11, 2022 12:57pm Nov 11, 2022 12:57pm
Still just ranging with a slight up-shift
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #706,676
  • Nov 11, 2022 12:58pm Nov 11, 2022 12:58pm
Quoting Pat Chiko
{quote} GU End of scalping. Closed all Spike Lee already asleep. No further action. Thanks everyone for your kind contribution in this thread. Wishing you good weekends and stay safe. {image} All, : better get some rest. Save energy, We can trade again on Monday
Your 1.184 target was good!
  • #706,677
  • Nov 11, 2022 12:59pm Nov 11, 2022 12:59pm
Quoting donfriday
{quote} stophunt is fallacy if you place stoploss at swing levels could mean that when u get taken out then the trend will change,,
No fallacy, sure!
  • #706,678
  • Nov 11, 2022 12:59pm Nov 11, 2022 12:59pm
Quoting mtako
I don't believe in stop hunting, but I've always liked the thought of it : {image}
Give it a thought, it is important actually thats how breakout traders and stops gets activated which gives MM positions gets in, if still not enough they keep on grinding till is enough of the accomulation, still not enough will manipulate to wrong side untill get their fills at best prices only then will give final expansion.
"Exchange of hands"
  • #706,679
  • Nov 11, 2022 12:59pm Nov 11, 2022 12:59pm
Quoting JayBag
{quote} If I am being honest with you, the minute we brake 11770, 1.184408 is the next target followed by possible extension. Well. at least, my view. Bears may end up holding the bag today
Closing majors and leaving the rest for a possible extension (1.202255)
  • #706,680
  • Nov 11, 2022 1:00pm Nov 11, 2022 1:00pm
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that’s where it all started . I had a great entrance but came out to early .. thing is cable will evenyeat most ok that back and we want to be at the dinner table lol
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