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Cable Update (GBPUSD)

  • #720,221
  • Jan 12, 2023 4:02am Jan 12, 2023 4:02am
Now Wht ?
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Using Chaos to Finding Order
  • #720,222
  • Jan 12, 2023 4:11am Jan 12, 2023 4:11am
Quoting Pram808
Now Wht ? {image}
now the drop comes
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yes yes yes
  • #720,223
  • Jan 12, 2023 4:12am Jan 12, 2023 4:12am
5:30amUSD
CPI m/m
-0.1%0.1%USD
CPI y/y
6.5%7.1%USD
Core CPI m/m
0.3%0.2%USD
Unemployment Claims
216K204K

could be the GO under day
  • #720,224
  • Jan 12, 2023 4:13am Jan 12, 2023 4:13am
CPI coming up
The only prayer you need is Thankyou
  • #720,225
  • Jan 12, 2023 4:16am Jan 12, 2023 4:16am
...1hr has made 2 x HL's and an eq HL and what will be 2 x HH's now and that last bullish thrust close engulfed previous 11 bodies....49pip run up past asian hi and weds hi...with tues and mon/current wkly hi above that. Mthly Pivot and Wkly R1 @/about @ current dly hi, with Dly R1 just above it.

The prev 1hr/4hr/minor dly sw hi that leads up to 2209 current wkly hi/mon hi is coexistent at top of it with a prev 1hr/4hr sw hi zone that extends to 2224 = prev res = pot res. Dly R2 circa 2220.

1hr below
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Trader with an Edge.
  • #720,226
  • Edited 4:33am Jan 12, 2023 4:22am | Edited 4:33am
Daily open retest, nice spot for a rebuy

Important key level that price often pivots on (1.2157, on confirmation obv)

IF it doesnt pivot here, then i'd wait until it sweeps under Frankfurt low and tests around 1.2120-30
  • #720,227
  • Jan 12, 2023 4:22am Jan 12, 2023 4:22am
1st Day back after NFP Loss.

I Bought Earlier and Took Profit.

Wish me luck, Sell 2x 0.20lot @ 1.2171, TP1.2038, SL 1.2189.

I feel if 1.2210 Breaks, then definitely 1.2242 (wick made on 19/12/2022), then +1.2400 and My Bias is Bearish, So I Sold even though close of last 4hr Candle was a Strong Bullish candle.

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  • #720,228
  • Jan 12, 2023 4:23am Jan 12, 2023 4:23am
Quoting Headland
...1hr has made 2 x HL's and an eq HL and what will be 2 x HH's now and that last bullish thrust close engulfed previous 11 bodies....49pip run up past asian hi and weds hi...with tues and mon/current wkly hi above that. Mthly R1 @ current dly hi with Dly R1 just above it. The prev 1hr/4hr/minor dly sw hi that leads up to 2209 current wkly hi/mon hi is coexistent at top of it with a prev 1hr/4hr sw hi zone that extends to 2224 = prev res = pot res. Dly R2 circa 2220. 1hr below {image}
Nice analysis.
Got to read twice while marking those level up.

Supply above still available.
Price back to symtrical triangle.

I wait a bit and let GU play first.
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I come from the future.
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  • #720,229
  • Jan 12, 2023 4:24am Jan 12, 2023 4:24am
Quoting BigNumbers
EURJPY SHORT{image}
Please adjust Tp1 140.663 there is a broke structure in that area… I didn’t see it before.
And there are a lot of opportunities to keep loading it. I just can’t keep posting. The blue and orange lines represent where you can add more orders buy or sell depending on the Algorithm on the lower time frame.

My trading system is complex because it deals with detailing… I don’t like leaving anything behind. Some lines are not important but they are there in case I want to load it up on a lower time and take 15 pips with a high lot and precision. Most times it will happen so fast and I can’t post it.
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  • #720,230
  • Jan 12, 2023 4:28am Jan 12, 2023 4:28am
Quoting Pram808
Now Wht ? {image}
We need a close above the previous high for a valid CHOCH, right?
More time in the market, does not mean you trade better!
  • #720,231
  • Jan 12, 2023 4:28am Jan 12, 2023 4:28am
Quoting Georginson
{quote} Hello Mate, today's a very powerful News (CPI) which usually generates between 200 - 350 pips... So asterik either of these zones ... 1.2300 or 1.1980 to happen today... Bias is cautiously tilted towards 1.1980 though... I can buy from 1.1980 or sell from 1.2250 - 1.2300 area...
I am also tilting towards your angle, looking at daily chart of DXY, I think there's a script being written by market makers to pump it up, and they may use the upcoming data to do that, so I are long GU, just the the DXY configuration
  • #720,232
  • Jan 12, 2023 4:30am Jan 12, 2023 4:30am
Attached Image (click to enlarge)
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yes yes yes
  • #720,233
  • Jan 12, 2023 4:31am Jan 12, 2023 4:31am
Quoting pipfarm
{quote} Can you explain why your bias is tilted towards 1980
Reason 1
✓Current Candle this week has little or no lower shadow, 70% of the times, price returns to the open price and breaks it down;

Reason 2
✓Last 2 CPI data went really bad for USD and this current CPI is already priced in and forecasted for USD to crash for the third time which I see as very unlikely...

Reason 3
✓Dxy is really low and some upward correction will send GU crashing in the short term.

Even with all these reasons, I may end up being brutally wrong and see price flying to 1.23... but I'm fully prepared for drawdown and will add sell even if price reaches 1.23...
Data + Stat + Risk/Emotions Management
  • #720,234
  • Jan 12, 2023 4:33am Jan 12, 2023 4:33am
Long 1.2153 target 1.2200
Don't trade what you think. Just what you see!!!
  • #720,235
  • Jan 12, 2023 4:33am Jan 12, 2023 4:33am
Quoting BigNumbers
{quote} Please adjust Tp1 140.663 there is a broke structure in that area… I didn’t see it before. And there are a lot of opportunities to keep loading it. I just can’t keep posting. The blue and orange lines represent where you can add more orders buy or sell depending on the Algorithm on the lower time frame. My trading system is complex because it deals with detailing… I don’t like leaving anything behind. Some lines are not important but they are there in case I want to load it up on a lower time and take 15 pips with a high lot and...

Take for example price is currently at the blue line @140.898 it was a previous buy line but with this volume and the objective below it @140.663. Price will take out whatever buying that’s going on there but again we have to go to the lower time frame to confirm what ever we anticipate. Now I’m on the 3 mins because there is a 20 pips move from the blue line to our objective. And usually we take such trade with calculated move.
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  • #720,236
  • Jan 12, 2023 4:34am Jan 12, 2023 4:34am
Quoting BigNumbers
{quote} Take for example price is currently at the blue line @140.898 it was a previous buy line but with this volume and the objective below it @140.663. Price will take out whatever buying that’s going on there but again we have to go to the lower time frame to confirm what ever we anticipate. Now I’m on the 3 mins because there is a 20 pips move from the blue line to our objective. And usually we take such trade with calculated move.
up up up
  • #720,237
  • Edited 4:51am Jan 12, 2023 4:39am | Edited 4:51am
why are you going up mf ?
go down !!!!!!!!!!!!!!!!!!!!
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yes yes yes
  • #720,238
  • Jan 12, 2023 4:40am Jan 12, 2023 4:40am
some Buyside, finaly, about time.
So, for anyone trying to follow my posts through the week, to be very clear: I took profit 1.218 and I am now "hands off".
I am not shorting this! I did yesterday, we took profit down there and now we took profit buyside. That's it for now!

M15 - both sides of very clear Liquidity taken (Sellside yesterday, Buyside today). I am out.
Beware Red Flags around the corner.
There is a lot of "toxic" (informed) Volume/Liquidty in this and I don't like the trades anymore.
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you are not expected to understand this
  • #720,239
  • Jan 12, 2023 4:42am Jan 12, 2023 4:42am
Quoting mysterio
Daily open retest, nice spot for a rebuy Important key level that price often pivots on (1.2157, on confirmation obv) IF it doesnt pivot here, then i'd wait until it sweeps under Frankfurt low and tests around 1.2120-30
I set my stop to BE. Target 1.2220

GU is the king of fake highs and lows. They will/should be retested and probably broken.
  • #720,240
  • Jan 12, 2023 4:42am Jan 12, 2023 4:42am
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