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Cable Update (GBPUSD)

  • #719,961
  • Jan 11, 2023 4:52am Jan 11, 2023 4:52am
Quoting palpite
Not dropped yesterday, so let's think in a new top in 1.2260. {image}
Let's see if today the price go there in 1.2260
Together we can be strongest
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  • #719,962
  • Jan 11, 2023 5:00am Jan 11, 2023 5:00am
how do you get all this colored line you use to mark your chart (I can see them down ur chart)do you download it some where or it came with your broker
  • #719,963
  • Jan 11, 2023 5:01am Jan 11, 2023 5:01am
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yes yes yes
  • #719,964
  • Jan 11, 2023 5:06am Jan 11, 2023 5:06am
Quoting palpite
{quote} Let's see if today the price go there in 1.2260
The best time to force price to new highs/lows is when everybody is expecting a ranging day. But they never go in a straight line so they might take out 2110/00 first to load up on sell orders.
  • #719,965
  • Jan 11, 2023 5:07am Jan 11, 2023 5:07am
Jesus it's a right f&^king c&*t today
  • #719,966
  • Jan 11, 2023 5:08am Jan 11, 2023 5:08am
a pre NFP style move would be ideal for shorts to get trapped, before rising again

We'll see
COT: The precious data ignored
  • #719,967
  • Jan 11, 2023 5:12am Jan 11, 2023 5:12am
We’ve got some big areas that haven’t been broken yet. 12100 and also on the bullish area 12220-50. As Fridays move literally smashed through previous areas below 121 my thinking we’ve not seen end of bulls yet. Lack of volume seems to be hanging for the next big data release. Would like a move to the top of the resistance levels personally
Insane in the Brain..
  • #719,968
  • Jan 11, 2023 5:12am Jan 11, 2023 5:12am
Quoting MrFanciful
Jesus it's a right f&^king c&*t today
yup a major one!
Insane in the Brain..
  • #719,969
  • Jan 11, 2023 5:15am Jan 11, 2023 5:15am
I'll look back on this and it'll be perfectly obvious what I should have done.
  • #719,970
  • Jan 11, 2023 5:17am Jan 11, 2023 5:17am
...there will be some stops for long positions, under y/day's lo...currently bears aren't having it re any recovery attempts from this prev 1hr/minor 4hr sw lo zone that extends down to y/day's 2109 lo. This -coexistent with- those prev 4hr/dly sw hi zones = prev res = pot rbs. Dly S1 circa 2107.
Trader with an Edge.
  • #719,971
  • Jan 11, 2023 5:22am Jan 11, 2023 5:22am
Quoting Moty
{image}
Thanks Moty for the signal.
I copy you.
Just put some hammer on your chart

Thanks again.
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I come from the future.
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  • #719,972
  • Jan 11, 2023 5:22am Jan 11, 2023 5:22am
Quoting Headland
...there will be some stops for long positions, under y/day's lo...currently bears aren't having it re any recovery attempts from this prev 1hr/minor 4hr sw lo zone that extends down to y/day's 2109 lo. This -coexistent with- those prev 4hr/dly sw hi zones = prev res = pot rbs. Dly S1 circa 2107.
Or the stars have aligned, the pound and dollar have found equalibrium and perfect harmony and the world is filled with rainbows and unicorns?
  • #719,973
  • Jan 11, 2023 5:22am Jan 11, 2023 5:22am
Quoting MrFanciful
I'll look back on this and it'll be perfectly obvious what I should have done.
I think there is a general 'expectation' that the pullback from mon's 2210 hi is just that and that at some point the bulls will come back in? And if expectations are assumptions, well you know what they do.
Trader with an Edge.
  • #719,974
  • Jan 11, 2023 5:38am Jan 11, 2023 5:38am
Added more shorts
I’m very busy today
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  • #719,975
  • Jan 11, 2023 5:40am Jan 11, 2023 5:40am
Quoting Headland
{quote} I think there is a general 'expectation' that the pullback from mon's 2210 hi is just that and that at some point the bulls will come back in? And if expectations are assumptions, well you know what they do.
I try not to have expectations or assumptions anymore. I try to look at the evidence that the chart is giving me and make a decision based on that. Unfortunately, at all times the evidence is that price has a pretty much equal chance of going up an down at all times.

At every point, price is either at support or resistance, or taking stop losses, or allowing positions to build up in order to take those positions and reverse, or use those orders to continue driving price in it's current direction.

It's just spent 2.5 hours building orders at 1.2126, and just peaked below within 4hour support. Stop hunt or continuation? I could "wait for confirmation" as people like to say, but all that I'm doing there is using S&R on a lower timeframe. It's turtles all the way down.
  • #719,976
  • Jan 11, 2023 5:45am Jan 11, 2023 5:45am
Quoting noox
{quote} The best time to force price to new highs/lows is when everybody is expecting a ranging day. But they never go in a straight line so they might take out 2110/00 first to load up on sell orders.
OTOH if it can't even take out these and starts heading up over 2150/60 then it's a strong sign of bull power.
  • #719,977
  • Jan 11, 2023 5:46am Jan 11, 2023 5:46am
Quoting MrFanciful
{quote} I try not to have expectations or assumptions anymore. I try to look at the evidence that the chart is giving me and make a decision based on that. Unfortunately, at all times the evidence is that price has a pretty much equal chance of going up an down at all times. At every point, price is either at support or resistance, or taking stop losses, or allowing positions to build up in order to take those positions and reverse, or use those orders to continue driving price in it's current direction. It's just spent 2.5 hours building orders...
Yeh I get what you are saying....it can be frustrating, I don't look at any less than 30min for previous swing lo or hi's re potential supp/res, (and for pot sbr/rbs too re 5min/15min hidden div plays respectively.) I only look at 5/15min prev sw hi's/lo's for 1min/3min hidden div entries into a 5min/15min (preferably + [higher t/f's] as well) trend after a pullback, ie these acting as pot rbs/sbr respectively. I also need PA to agree re a trigger for entry on the smallest t/f that sets-up....if I'm unsure I'll wait for the next higher t/f close to see if it agrees. I use the close of a candle (s) as my trigger for entry.

This situation right now, price obviously went deeper into that prev 1hr/4hr sw lo zone = prev supp = pot supp (price tends to test deep in those zones though not always,) and mined a deeper vein of demand there...the 5min bullish regular div caught it.

1hr below
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Trader with an Edge.
  • #719,978
  • Jan 11, 2023 5:48am Jan 11, 2023 5:48am
Moty please can I borrow your hammer for a moment ?
My telegram: https://t.me/avidforex
  • #719,979
  • Jan 11, 2023 5:48am Jan 11, 2023 5:48am
Welcome 36000
  • #719,980
  • Jan 11, 2023 5:54am Jan 11, 2023 5:54am
Quoting Pat Chiko
{quote} Thanks Moty for the signal. I copy you. Just put some hammer on your chart Thanks again.{image}
Next news US 10-y Bond Auction
This is a Medium Impact event
It's going to affect the US two-year yield and maybe help the dollar.
I come from the future.
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