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Cable Update (GBPUSD)

  • #719,021
  • Jan 7, 2023 10:58am Jan 7, 2023 10:58am
In the short term, we have a bullish 6 months high that reject the price into a key support at 1.1920.
over the intraday price, we should find price retracing back down to 1.2025 but the key focus remains to the upside with target of 1.2660.
Attached Image (click to enlarge)
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Swing Trading // 1 SETUP # UNLIMITED PATIENCE
  • #719,022
  • Jan 7, 2023 11:09am Jan 7, 2023 11:09am
US CPI
IF actual < consensus, to 6.5% from 7.1%, we are heading towards almost 4th consecutives month US CPI YoY falling alongside all other Price data (CPI MoM, Core CPI, PCE and PPI [upwards pressure seems to fade]) heading to down.
Will we see a 25bps hike on FEB 1?
More time in the market, does not mean you trade better!
  • #719,023
  • Jan 7, 2023 11:14am Jan 7, 2023 11:14am
Opinions so many
Experience when opinions meets reality
Failure when we base decisions on others opinions
Growth when we trust our own opinions
In the end everyone has opinions, the fool gives out opinions like candy while the wise looks on with no comments.
In the end the truth has a life when at the end of a trading day opinions meet reality.
  • #719,024
  • Jan 7, 2023 11:16am Jan 7, 2023 11:16am
It’s nice to talk nonsense after a nice long relaxing holiday in the sun.
  • #719,025
  • Jan 7, 2023 11:18am Jan 7, 2023 11:18am
Quoting palpite
I changed my analysis to bullish for the next week. Good Luck. {image}
After the up movement M30, i think we will see a consolidation. The chart H4 not have an structure bullish yet.

Attached Image (click to enlarge)
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Together we can be strongest
Vantage Return This Month: na
  • #719,026
  • Jan 7, 2023 11:18am Jan 7, 2023 11:18am
OK people, thank you for the kind words.
In these uncertain and difficult times we often try to make sense where is no sense and it's easy to get lost in all of the mess.
We are trading low volume markets without clear direction. This is very normal around this time of year.
When Fundamental analysts try to talk a lot of strength into the USD but the technical charts don't agree, things tend to get messy. Still, we try to make sense of it.
So, that being said, this is what I am looking at:

USD/JPY - you be the judge of this -> https://www.forexfactory.com/attachment/image/4368148
reminding myself to trust in my own method and forecasters only exist to lead sheep to the slaughterhouse and I am a lion, not a sheep.

GBP/USD - this is a NEUTRAL and UNDECIDED market:
CU next week, maybe
Attached Image (click to enlarge)
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you are not expected to understand this
  • #719,027
  • Jan 7, 2023 11:36am Jan 7, 2023 11:36am
Quoting tiborf71
{image}
which indicator ??
  • #719,028
  • Jan 7, 2023 11:43am Jan 7, 2023 11:43am
Quoting palpite
{quote} After the up movement M30, i think we will see a consolidation. The chart H4 not have an structure bullish yet. {image}
I'm just wondering how this pattern came about.
  • #719,029
  • Jan 7, 2023 11:44am Jan 7, 2023 11:44am
So I've seen this flash situ many times now and the market does not use that point to create tl's. The immediate trend is up according to local printed price , I have a rough channel.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #719,030
  • Jan 7, 2023 11:57am Jan 7, 2023 11:57am
Quoting FulMargnAlch
{image}
FulMargnAlch, ...or the opposite. I love to read the posts of so many people here and pick their brains that not even "doctored" charts will chase me out of this thread. I'm here to stay.
Always trade your own plan...I don't provide trading signals.
  • #719,031
  • Jan 7, 2023 12:53pm Jan 7, 2023 12:53pm
Quoting Bainbrito
“Instead of speaking of the possibility of an event occurring, we might speak, more precisely, of an inherent propensity to produce, upon repetition, a certain statistical average. These tendencies and propensities have led to the emergence of life. And they have led to the unfolding of life, the evolution of life. And the evolution of life has led to better conditions for life on earth, and thus to new possibilities and propensities; and to new forms of life that differ utterly. All this means that possibilities – even possibilities that have not...
It is much easier and safer to avoid the beginning/end of trends entirely and just attempt to catch some of the middle.

We don’t have to understand the factors involved.

Take heed of the above, aspiring traders!
To free Gazans of Hamas, use whatever it takes.
  • #719,032
  • Jan 7, 2023 1:29pm Jan 7, 2023 1:29pm
Quoting Robinhood1
And now I'm leaving FF and I'll only come back if due to some anomaly to report it. Many market makers, what you call pro traders will be reading this. Bye and good luck. Speciall greetings to LvMMT. God bless you
Good luck, been a pleasure.
  • #719,033
  • Jan 7, 2023 1:30pm Jan 7, 2023 1:30pm
Quoting tiborf71
{quote} I'm just wondering how this pattern came about.
It's about the studies, the chart H4 not have a bottom higher for to go up and not have a top lower for to drop. We have a consolidation yet and probably we will see a diamond in the next week.
Together we can be strongest
Vantage Return This Month: na
  • #719,034
  • Jan 7, 2023 3:06pm Jan 7, 2023 3:06pm
Quoting davelansing
{quote} {quote} What you say is not really nonsense. On these forums, opinions are taken as facts, when in fact (no pun intended), they're ONLY opinions. TA, PA, GANN, S/R, astrology are only guesses no matter how hard we want to believe that these "analysis" hold some type of validity. It's amazing how many arguments I've had with other traders who are convinced that their S/R lines, PA shapes, indicator confluences, etc.. were the gospel truth just because their most recent analysis was successful. But whenever I pointed out when their shape\indicator\TA\SR...
many people think that they have to win every trade, but this is an impossible attempt.
I trade with S/R and gartley patterns, and often I don't succeed, but I can make a profit by applying my strategy in a series.
I only open positions in situations where R:R is very good.
GOOD MONEY MANAGEMENT IS KEY.
yes, on this forum there are only opinions and not facts.

good luck for everyone.
  • #719,035
  • Jan 7, 2023 4:27pm Jan 7, 2023 4:27pm
Bull trap weekly bullish candle?
Just thinking...
Watching blue area between 1.174x/6x .
35-50 pips more push from here and then turn back to blue area?
This scenario is a red flashing light for bullish biased minds.
For bears, ready for 550 pips more pain!

Attached Image (click to enlarge)
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Trade to enjoy... Money is after!
  • #719,036
  • Jan 7, 2023 5:00pm Jan 7, 2023 5:00pm
Quoting Wavegarrick
{quote} Yes, Typical weight in the lagoon or estuary about 2.5 to 5 Kg's. I have caught bigger up to 12 kg's. Very nice eating. I am planning another day fishing trip tomorrow. Cheers.
Send us pictures
How to succeed in zero sum game?
  • #719,037
  • Jan 7, 2023 6:12pm Jan 7, 2023 6:12pm
Time to share some of my noob hindsight notes that is very difficult to execute in realtime (especially when you are already decided where the market is going instead of waiting the PA to unveil itself), please don't crucify me or I'll criii.
Attached Image (click to enlarge)
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The market hides a perfect geometry.
  • #719,038
  • Jan 7, 2023 7:08pm Jan 7, 2023 7:08pm
the GBP is very very strong..looking for longs at this point in many pairs.
  • #719,039
  • Jan 7, 2023 7:21pm Jan 7, 2023 7:21pm
Long GU from 1.1925
  • #719,040
  • Jan 7, 2023 7:38pm Jan 7, 2023 7:38pm
Quoting saninvestor
Bull trap weekly bullish candle? Just thinking... Watching blue area between 1.174x/6x . 35-50 pips more push from here and then turn back to blue area? This scenario is a red flashing light for bullish biased minds. For bears, ready for 550 pips more pain! {image}
I can't quite work out what your TF is. I think it's Daily but my last candle is fully green. The comment I want to make is that it looks like an Inverted Head & Shoulders and your last candle looks as though it has already traced to the right shoulder then bounced up.
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