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Cable Update (GBPUSD)

  • #708,961
  • Nov 23, 2022 10:45am Nov 23, 2022 10:45am
Game on
  • #708,962
  • Nov 23, 2022 10:49am Nov 23, 2022 10:49am
Quoting DrDave
{quote} There is no need to focus on those big TFs, but there is a need to check them to see what they are doing. It is REALLY no surprise at all to see price making new highs on smaller TFs when the MN1 is in a RALLY, and likely to hit 1.23. And even though W2 has more than enough bars to end going up, not even M15 can get into a down trend. So if small TFs can't get into down trends, it is IMPOSSIBLE for even the D1 to swing down.
True to an extent......if the previous daily CS was solid bullish, why try to pick a top and short it the day after? The weekly is showing bullish. Scalping is good but adds more unnecessary stress IMO.
Just my 2 cents....
Lost....
  • #708,963
  • Nov 23, 2022 10:51am Nov 23, 2022 10:51am
Quoting mrluckystar
Wave 4.. target 1.1960/70. Will reload there for wave 5 rides till 1.2190 tomorrow.. And sell there till 1.1720 for next week
11720 looks so distant right now. I think you could be right with 11960-70 tomorrow as the current move has paused. There is the usually quiet FOMC minutes later today but I’m hoping if that provides movement is for a drop to below 120.
tomorrow and Friday US is off so we could be moving in trend only.
Insane in the Brain..
  • #708,964
  • Nov 23, 2022 10:55am Nov 23, 2022 10:55am
Quoting BeeTogether
{quote} 11720 looks so distant right now. I think you could be right with 11960-70 tomorrow as the current move has paused. There is the usually quiet FOMC minutes later today but I’m hoping if that provides movement is for a drop to below 120. tomorrow and Friday US is off so we could be moving in trend only.
1.1720 for the whole week next week till Thursday (1st Dec 22)
Peace Yo!
  • #708,965
  • Nov 23, 2022 10:57am Nov 23, 2022 10:57am
Quoting BeeTogether
{quote} 11720 looks so distant right now. I think you could be right with 11960-70 tomorrow as the current move has paused. There is the usually quiet FOMC minutes later today but I’m hoping if that provides movement is for a drop to below 120. tomorrow and Friday US is off so we could be moving in trend only.
Higher timeframe makes it look nearer
  • #708,966
  • Nov 23, 2022 10:59am Nov 23, 2022 10:59am
30 pips running see what the re take is from the high ?
  • #708,967
  • Edited 11:20am Nov 23, 2022 11:03am | Edited 11:20am
Remain 1 buy for 1.2190
Break 1.1945 means wave 5 void!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2022-11-24-01-06-39-55_d2413675f45e5f25fdbfe681d1807ad0.jpg Size: 387 KB
Peace Yo!
  • #708,968
  • Nov 23, 2022 11:08am Nov 23, 2022 11:08am
Quoting KalC
Weekly 'to the moon' time, brothers {image}
Just as planned
  • #708,969
  • Nov 23, 2022 11:09am Nov 23, 2022 11:09am
M1 action for GU is more of a ranging gathering liquidity than a stop hunting. Curious.
  • #708,970
  • Nov 23, 2022 11:21am Nov 23, 2022 11:21am
having a killer week with gu and uj........time to rest now lol
  • #708,971
  • Nov 23, 2022 11:28am Nov 23, 2022 11:28am
A close below 120 would be very useful
Insane in the Brain..
  • #708,972
  • Nov 23, 2022 11:33am Nov 23, 2022 11:33am
Did you know that today is a Fibonacci day?
FIBONACCI DAY - November 23, 2022 - National Today
Always trade your own plan...I don't provide trading signals.
  • #708,973
  • Nov 23, 2022 11:42am Nov 23, 2022 11:42am
Quoting nAVIN2007
{quote} FED want to reduce global infation They figure raising interest rates, will cause people to spend less because there outgoings increase.. Inflation is reducing in America, market see this as positive, USD goes south What you are not factoring in is (I think)..USD has been bought because of fear (flight to safety) now markets are more optimistic, money is be taken out of USD and back into normal sh*t. High USD means everything becomes weak..this also reduces inflation cause people have less to spend Im mostly probably wrong but hey!! Just...
This might interest you:
https://think.ing.com/snaps/us-resil...o-talk-tougher
  • #708,974
  • Nov 23, 2022 11:43am Nov 23, 2022 11:43am
GU above 1.2...umm lets see how long.
  • #708,975
  • Nov 23, 2022 11:46am Nov 23, 2022 11:46am
I now expect the bullish move to terminate at 1.2080 - 1.2100 area for a retracement to at least 1.1820 - 1.1670 area in days ahead.
Data + Stat + Risk/Emotions Management
  • #708,976
  • Nov 23, 2022 11:52am Nov 23, 2022 11:52am
most severe target 1.1450
  • #708,977
  • Nov 23, 2022 11:53am Nov 23, 2022 11:53am
Quoting mrluckystar
Remain 1 buy for 1.2190 Break 1.1945 means wave 5 void! {image}
i am out of the market now as the liquidity isnt that good...took my long profits last night for about 60 pips....too soon i guess but who know knew lol
  • #708,978
  • Nov 23, 2022 12:07pm Nov 23, 2022 12:07pm
Quoting dantpm
{quote} This might interest you: https://think.ing.com/snaps/us-resil...o-talk-tougher

lets see but as far as I can tell this is not in the charts in terms of market direction according to my edge
  • #708,979
  • Nov 23, 2022 12:12pm Nov 23, 2022 12:12pm
Quoting nAVIN2007
{quote} lets see but as far as I can tell this is not in the charts in terms of market direction according to my edge
You are probably assuming a rational reaction of the markets to the data presented. That isn't happening. The FED is interfering with the rational reaction and overlaying a FED induced reaction.
  • #708,980
  • Nov 23, 2022 12:13pm Nov 23, 2022 12:13pm
Quoting chess king
most severe target 1.1450
If this target hit, means 1.2080 are the high for Q4.
And UK inflation going from bad to worse!
Peace Yo!
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