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Cable Update (GBPUSD)

  • #718,941
  • Edited 2:45pm Jan 6, 2023 2:29pm | Edited 2:45pm
Quoting montygoldy
Can anyone share the long targets on charts .. i am confused as to where to tp these trades…. If we close the day close to 1.21 then i’ll hold for weekend.. can have a nice gap up..
I would take your profits, sell to 1.200 and buy dip after retrace.
Dxi might go 20pips lower, nearly done selling.
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  • #718,942
  • Edited 2:47pm Jan 6, 2023 2:30pm | Edited 2:47pm
We got the 1850’s bounce. Not sure if it’s the major turning point yet
Compulsions can be hard to resist
  • #718,943
  • Jan 6, 2023 2:48pm Jan 6, 2023 2:48pm
(USD) CPI Y/Y Forecast was changed from 7.0% to 6.5%...
No wonder there's no retracement..

It would be funny if they put the Actual number instead of the forecast and only now they changed it..
  • #718,944
  • Jan 6, 2023 2:49pm Jan 6, 2023 2:49pm
Quoting Giucca
Do you think the markets overreacted and prices should reverse back from here? Back to pre-news levels?
Audusd to signal a top, went short small lot 6886, will add after confirmation if possible before market closing.
POSTMASTER
  • #718,945
  • Jan 6, 2023 2:52pm Jan 6, 2023 2:52pm
Quoting TheWolf
(USD) CPI Y/Y Forecast was changed from 7.0% to 6.5%... No wonder there's no retracement.. It would be funny if they put the Actual number instead of the forecast and only now they changed it..
And now? You´re thinking we going bulish next week? Without retracement?
  • #718,946
  • Jan 6, 2023 2:57pm Jan 6, 2023 2:57pm
Plan changed holding till monday .. hoping for a nice gap up… need to cover my previous slaughtered longs losses… will be happy to see 1.21250 on monday
Extreme gut feeling trader
  • #718,947
  • Jan 6, 2023 3:18pm Jan 6, 2023 3:18pm
Now that the move has happened and I was on the other side of the market I spotted my own mistake I made today. But it doesn't matter because it already happened. Just a new note in my trading journal.

The ones that actually traded the move share your thoughts. How you knew it happened, what was your exact entry? Where was your exit and why?


Thanks
How to succeed in zero sum game?
  • #718,948
  • Jan 6, 2023 3:18pm Jan 6, 2023 3:18pm
Quoting palpite
sell again - 1.2092 stop loss - 1.2110
trade closed - 1.2095
Together we can be strongest
Vantage Return This Month: na
  • #718,949
  • Jan 6, 2023 3:21pm Jan 6, 2023 3:21pm
Quoting Alevsky017
{quote} Same, 1.20920 opened my sell position and waiting for Monday
I closed my trade, monday i try again. Good luck.
Together we can be strongest
Vantage Return This Month: na
  • #718,950
  • Jan 6, 2023 3:25pm Jan 6, 2023 3:25pm
Quoting palpite
{quote} I closed my trade, monday i try again. Good luck.
Thanks man
Wish you also luck on monday!!
  • #718,951
  • Jan 6, 2023 3:25pm Jan 6, 2023 3:25pm
GU not did at least the pullback M1, the bulls are strong now.
Together we can be strongest
Vantage Return This Month: na
  • #718,952
  • Jan 6, 2023 3:32pm Jan 6, 2023 3:32pm
121 resisting to crack above. Although todays close is similar to last Friday
Insane in the Brain..
  • #718,953
  • Jan 6, 2023 3:50pm Jan 6, 2023 3:50pm
Quoting Coreg2004
{quote} Waveskierrob, it can get bloody if 1.2072 breaks. {image} {image}
Hope so could do with a good fight, keeps me humble..
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  • #718,954
  • Jan 6, 2023 3:54pm Jan 6, 2023 3:54pm
Quoting genadi
to sell GU here at 1.1855 is very very risky
I told you this is risky
  • #718,955
  • Jan 6, 2023 3:55pm Jan 6, 2023 3:55pm
Quoting Waveskierrob
{quote} Will take your challenge GU SHORT 1.1855 no sl no tp ........just for fun
where are you now?

holding a trade with 240 pips loss.

your acc is frozen. what is the plan to get out? will you take 30% loss or will you hold your frozen acc for 4 months ?
  • #718,956
  • Jan 6, 2023 3:55pm Jan 6, 2023 3:55pm
Quoting Robinhood1
{quote} Audusd to signal a top, went short small lot 6886, will add after confirmation if possible before market closing.
There has been no time to confirm but 99% going down.
POSTMASTER
  • #718,957
  • Jan 6, 2023 3:58pm Jan 6, 2023 3:58pm
What a start to the year! 4 > 30day adr days on the bounce. This week though closes with price having traveled only 70% of the 13-week (Qtr year) awr as these big day pip ranges all occurred in close proximity to each other with an effective down/up/down/up movement on Tues, Weds, Thurs, and Fri respectively. So far this mth, 32% of the 6mth amr has been traveled by price.

Today’s ‘real’ post U.s NFP move took some bears, and others by surprise, particularly as price seemed to move counter-intuitively to perceived logic on a good NFP headline numbers print. Dig deeper though and it was the slower than expected wage growth, and weak service sector growth that apparently did for a pretty much across-the-board $ rout today. Of course in real-time, we as retail traders don’t always have this analysis readily to hand, so it’s a case really of trade what you see not what you think – if ever there was one.

Wkly The wkly candle closes as a pinbar (which implies more upside, particularly re the Inverted H&S pattern Bones highlights in his post above that also shows the last Qtrly close which is useful too.) The t/f has seen 2 x HL’s (0922 & 1146,) and a HH (@ 2445) printed before this week’s action. Today (Friday’s) wkly lo (and current p/back lo on this t/f off that 2445 HH,) of 1840, may well firm up into a 3rd HL on this t/f, after next week’s wkly candle print? The t/f could be said to be at the beginning of a new uptrend.
Dly We have seen some minor prints recently on this dly t/f including 3 x minor sw LH’s @ 2126,2107 and 2088, and this wk’s lo may well firm up into a LL with Monday’s dly close? This said the dly candle bullish thrust close bullishly engulfs the previous 4 candles on this t/f so could well be the rallying cry for further bullish action back towards 2445? Despite what may turn out to be a LL @ 1840 the t/f can still be said to be in a general uptrend.

The big post-NFP 1hr and 4hr bullish thrust candles had small pullbacks before a continuation to the upside, will this repeat on this dly t/f, and relative to it?

4Hr (Gmt+2 price feed) The bullish engulf thrust candle up from the day’s 1840 lo was followed by another big bullish thrust candle on this t/f after the initial U.s NFP small knee-jerk reaction downside move. There is a repeating pattern of bullish regular divergence in it’s oscillators @ the 1840 lo. The last candle close was bullish-bodied but much smaller in size than the one before it, as the up-move today ran out of steam towards market close. The t/f could be said to be ranging-currently bullish, with no real established trend. The last 2 fractal prints on the t/f were a LH (1935) then a LL (@ that 1840 Friday’s wkly lo.) Any pullback @ or close to Friday’s hi could create a point 5 of an Expanding Triangle pattern for a hi-prob long entry, (ie an effective Inverted H&S on this t/f too.)

NB: Chart conditions per 3 candle fractal swing analysis.

Wkly, Dly, and 4Hr below show near-term potential supp/res/sbr/rbs factors relative to each t/f.
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Trader with an Edge.
  • #718,958
  • Jan 6, 2023 4:03pm Jan 6, 2023 4:03pm
Quoting dempire1
Now that the move has happened and I was on the other side of the market I spotted my own mistake I made today. But it doesn't matter because it already happened. Just a new note in my trading journal. The ones that actually traded the move share your thoughts. How you knew it happened, what was your exact entry? Where was your exit and why? Thanks
I just scalp a few pips at a time but was expecting a reaction following Elliott wave analysis. A 5 wave bullish motive phase was completed and cable was in a 3 wave corrective phase - wave c completing at 1.185 as projected.
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Not many people pay attention to tick volume but you can see that price moved down on very flat volume indicating a lack of selling pressure at this level. That all changed with the red news and high volume came back in with large green candles signifying buying pressure - a clear sign to flip the switch.
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  • #718,959
  • Jan 6, 2023 4:04pm Jan 6, 2023 4:04pm
Let's see if the pivot weekly will be the support. And the target will be the pivot monthly.

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Together we can be strongest
Vantage Return This Month: na
  • #718,960
  • Jan 6, 2023 4:26pm Jan 6, 2023 4:26pm
Good night all! Let’s see if Sunday can break 121
Insane in the Brain..
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