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Cable Update (GBPUSD)

  • #715,561
  • Dec 21, 2022 5:31am Dec 21, 2022 5:31am
Quoting ToSatisfy
{quote} Alright Alright I take some off the Buys I have Sell On With Target Set As Shown {image} Timeframe H1
Are you enjoying your sells or what

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I am

I am In again

Aaah
Shekh In Desert
  • #715,562
  • Dec 21, 2022 5:38am Dec 21, 2022 5:38am
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  • #715,563
  • Dec 21, 2022 5:38am Dec 21, 2022 5:38am
chasing the price must be avoided
Intraday only.
  • #715,564
  • Dec 21, 2022 5:39am Dec 21, 2022 5:39am
we should rise to 1.2180 if support will not be overcome
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Trendlines H1,H4, SMC
  • #715,565
  • Dec 21, 2022 5:42am Dec 21, 2022 5:42am
After a correction we would expect an impulse ie a move in the direction of the first wave, therefore i would expect a break below 2085 and price to follow through and make a lower low swing, especially considering the structure break.
Follow The Markets Structure - Patience and Discipline
  • #715,566
  • Dec 21, 2022 5:42am Dec 21, 2022 5:42am
This is like trying to catch a falling knife.. however it could bounce up so try not get your face caught on the rebound. Times like this I wish I didn’t have FoMo lol
Insane in the Brain..
  • #715,567
  • Dec 21, 2022 5:45am Dec 21, 2022 5:45am
Quoting Pat Chiko
{quote} GU Trying some luck for the balance of trades. Maybe it will break the ranges and go for the target. I think we could get a nice healthy pullback to 1.196200 before moving up. ( target 3) As for fundamental, selling pressure on GBP, as the US Dollar has recovered on higher interest rate peak guidance by the Federal Reserve. Going out for dinner. Back afterward. Take care and trade safe. PAT{image}
DXY

DXY major TL support at 103.
Dollar Index testing massive long-term support area - could the greenback stage another rally here?
Waiting for bounce.
Lookinng at US 10y yields and Dollar Index DXY move in tandem.
Healthy sign for Fundi.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #715,568
  • Dec 21, 2022 5:49am Dec 21, 2022 5:49am
my view
usindex
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Trendlines H1,H4, SMC
  • #715,569
  • Dec 21, 2022 5:51am Dec 21, 2022 5:51am
Quoting navk
chasing the price must be avoided
but i'll miss the move! then it will be even more hard to get in. - said the rookie trader.
  • #715,570
  • Dec 21, 2022 5:51am Dec 21, 2022 5:51am
I am going to take my 30 pips and live to trade another day

“What I do have are a very particular set of skills, skills that I have acquired over a very long career……”
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“What I do have are a very particular set of skills that I have acquired”
  • #715,571
  • Dec 21, 2022 5:54am Dec 21, 2022 5:54am
buy 1.21

stop loss - 1.2080
Together we can be strongest
Vantage Return This Month: na
  • #715,572
  • Dec 21, 2022 5:55am Dec 21, 2022 5:55am
Quoting Georginson
{quote} It's now 326 pips of the expected 400 pips correction from the high... This means the immediate target this week is 1.2046... while extended target may stretch to 1.1960....
To me, The destination remains 1.2046, while 1.1960 cannot also be ruled out...
Data + Stat + Risk/Emotions Management
  • #715,573
  • Dec 21, 2022 5:57am Dec 21, 2022 5:57am
taken long.

stop below
Intraday only.
  • #715,574
  • Dec 21, 2022 6:03am Dec 21, 2022 6:03am
G/A, 3rd downside b/o of the main body of the 1hr range now as price challenges the prev 1hr/4hr sw lo zone that extends down to 2085, = prev supp = pot supp. 4hr perhaps shows the near-term potential downside rbs and supp zones below current price best. No 3 (+) fib clusters down to 1899, but there are some downside fibs (always!) As for the near-term potential upside obstacles - 1hr shows this best.

4hr then 1hr below
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Trader with an Edge.
  • #715,575
  • Dec 21, 2022 6:06am Dec 21, 2022 6:06am
Quoting Pat Chiko
{quote} DXY DXY major TL support at 103. Dollar Index testing massive long-term support area - could the greenback stage another rally here? Waiting for bounce. Lookinng at US 10y yields and Dollar Index DXY move in tandem. Healthy sign for Fundi.{image}
why I have a different price as u?
My price was not today over 103.80
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Trendlines H1,H4, SMC
  • #715,576
  • Dec 21, 2022 6:11am Dec 21, 2022 6:11am
Quoting josip
{quote} why I have a different price as u? My price was not today over 103.80 {image}
USDX pricing seems to vary from broker to broker!
  • #715,577
  • Edited 6:32am Dec 21, 2022 6:20am | Edited 6:32am
Quoting Pat Chiko
{quote} DXY DXY major TL support at 103. Dollar Index testing massive long-term support area - could the greenback stage another rally here? Waiting for bounce. Lookinng at US 10y yields and Dollar Index DXY move in tandem. Healthy sign for Fundi.{image}
Nice! We saw quite the retracement on USD pairs. USD dropped to 130 against Yen from 152 already. Now, will we see USD drop further to ~125 is to be seen yet. I think Buy at 130 will hold for the time being. I also looked at the Monthly Chart. Now, when you remove wicks from candles you can see more clearly where real demand and supply come from actually. Some candles are just noise in my opinion, they pull us away from the real support and demand levels.

Big banks and those hedge fonds with a ton of money look at fundamentals and probably Weekly Chart, maybe Monthly. I think they use Fundamentals only. If there's no news than price will range in some 500, 1000 pip range probably and when fundamentals change for some currency they adjust accordingly.

Wicks are good to have on when price is near Support or Resistance, otherwise they're just noise, in my opinion.

Let's say we have a big order that just came in and price started to fall right? I think how market executes this is as following:

One part of the order now, then pause, then again, pause and then again... That's why we see those retracements. Otherwise, if one big order comes in we should be seeing only red candles right? You can call them pivots I call it continuation of order execution.

Retracement is just time, nothing else in my opinion.

Unless another big order comes in and interrupts natural path of the price, then the price should continue to the established Support level.
  • #715,578
  • Dec 21, 2022 6:23am Dec 21, 2022 6:23am
Quoting Fishbones
Going south? Hmm… {image}
1.19 incomming
  • #715,579
  • Dec 21, 2022 6:23am Dec 21, 2022 6:23am
Quoting Pat Chiko
{quote} GU Last few days for Christmas shopping. Out to see what good to buy.. Came back after Eight hours of scalping, time to take out some. End of scalping part 1. Partial TP. Taking out small money to buy myself a Christmas present.{image}
GU

Approaching target 2.
Buyer has been helping seller to fuel the down moves.

Structure broken with range break out trading rushing in to take order.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #715,580
  • Dec 21, 2022 6:23am Dec 21, 2022 6:23am
Buy limit 1.2065
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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