Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#721,741
Jan 18, 2023 9:29am Jan 18, 2023 9:29am

Guy1969
Joined Jul 2021 | Status: Trader | 2,152 Posts

Quoting noox

Disliked

{quote} Would you elaborate on what those signs are?

Ignored

There's a number repeated sweeps happening below and above key technical levels.

#721,742
Jan 18, 2023 9:36am Jan 18, 2023 9:36am

mysterio
Joined Sep 2009 | Status: Trader | 6,009 Posts

Yesterday was quite easy to pull in the pips but I sidelined before the US session. Obviously going counter-trend is not ideal but I didnt feel good about buys with a fat H4 supply in the way.

I believe DXY is headed for the h4 swing low at 101.3 before any real correction. Selling GU should be done with extreme caution but we 'should' see an intraday pullback to 1.23 at least.

Buying dips remains the favored trade. The first meaningful correction may not appear until above 1.2460 in daily supply

#721,743
Jan 18, 2023 9:38am Jan 18, 2023 9:38am

Coreg2004
Joined Oct 2009 | Status: Trader | 5,639 Posts

Quoting Pat Chiko

Disliked

{quote} Thanks for the chart. I was away from PC most of the day. Appreciate seeing your chart for me to catch up on the speed. Are all of your chart for free to use or somebody will claim royalty (a sum paid to a patentee for the use of a patent or to the charts) ? I'm your buddy... (free to use)

Ignored

Pat, all charts are free for everyone. Just don't resale them...

Check the GU chart and compare it with your strategy bc if GU doesn't stop on the potential irregular B wave we will look for the target @1.26. Sure, the double-top can work too.

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Always trade your own plan...I don't provide trading signals.

#721,744
Jan 18, 2023 9:40am Jan 18, 2023 9:40am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

M I N D S E T

Trading start with Mindset, Fundamental and Technical.

I was at the same point once, and I found it was the questions I started to ask myself then that changed everything for me.
I am going to say that we probably get emotional about trades, and that is probably getting us in the end.

So ask this question first:
"When I lose, what bothers me?"
I am not talking about the moronic answer "Losing money", I am thinking a little deeper here.

It's being wrong more than likely.
Because if you are using proper Money Management, we aren't losing much on any one particular trade.
If we risk 1%, it's like losing a dollar when you have 100.....think about that.

Would that piss us off in real life?
Probably not.
So it's not the money....it's the need to be right. (This was the case with newbie at least.)

Also, ...............you can't buy a system.
Even if I could sell you a great one, you really should learn what makes it great.

I cannot understand why people are alright with not knowing how their money works for or against them.
However.....will spend weeks learning golf stats. (an example.)

Don't be in 15 minute chart land.
As a beginner, start out higher time frames, like the daily.
Yes....that means playing at a dime a pip sometimes, but it's a hell of a lot less stressful.

Besides.....did any one of you here get into Forex to stare at computer screens?
I know I didn't.
Because I'm lazy and trying to spend less than two hours per day in front of chart.

When I remembered that....it became less of a big deal.
Place a trade, go on about life. ( Did that and loss some money earlier)....

Let me hear you......

PAT Chiko

I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#721,745
Jan 18, 2023 9:41am Jan 18, 2023 9:41am

Guy1969
Joined Jul 2021 | Status: Trader | 2,152 Posts

Quoting Coreg2004

Disliked

{quote} Pat, all charts are free for everyone. Just don't resale them... Check the GU chart and compare it with your strategy bc if GU doesn't stop on the potential irregular B wave we will look for the target @1.26. Sure, the double-top can work too. {image}

Ignored

How far do you think the bulls can push this? Looking at the H4 chart, all I see is very heavy bullish candle formations.

#721,746
Jan 18, 2023 9:46am Jan 18, 2023 9:46am

Guy1969
Joined Jul 2021 | Status: Trader | 2,152 Posts

Quoting Pat Chiko

Disliked

M I N D S E T Trading start with Mindset, Fundamental and Technical. I was at the same point once, and I found it was the questions I started to ask myself then that changed everything for me. I am going to say that we probably get emotional about trades, and that is probably getting us in the end. So ask this question first: "When I lose, what bothers me?" I am not talking about the moronic answer "Losing money", I am thinking a little deeper here. It's being wrong more than likely. Because if you are using proper Money Management, we aren't losing...

Ignored

If I may add, my mentor years back refused to teach me until I read and fully comprehended the contents of this book. He summarized it in the end by saying, don't let you head stand in your way.

Guy

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#721,747
Jan 18, 2023 9:48am Jan 18, 2023 9:48am

Georginson
Joined Aug 2018 | Status: Research Analyst | 4,290 Posts

Quoting Coreg2004

Disliked

{quote} Pat, all charts are free for everyone. Just don't resale them... Check the GU chart and compare it with your strategy bc if GU doesn't stop on the potential irregular B wave we will look for the target @1.26. Sure, the double-top can work too. {image}

Ignored

I feel sooner or later price will take on 1.26 but 160 to 200 pips correction may happen to correct short term overbought conditions before that potential move to 1.26...

Data + Stat + Risk/Emotions Management

#721,748
Jan 18, 2023 9:49am Jan 18, 2023 9:49am

Guy1969
Joined Jul 2021 | Status: Trader | 2,152 Posts

Quoting Georginson

Disliked

{quote} I feel sooner or later price will take on 1.26 but 160 to 200 pips correction may happen to correct short term overbought conditions before that potential move to 1.26...

Ignored

I anticipate that to be from beginning Feb.

#721,749
Jan 18, 2023 9:50am Jan 18, 2023 9:50am

Wavegarrick
Joined Sep 2017 | Status: Trader | 4,360 Posts

Quoting Wavegarrick

Disliked

{quote} End result. Tomorrow is another day. Cheers. {image}

Ignored

Quote

Disliked

Exact touch of my monthly res 1 at 1.23620. Possible pullback to 1.23000.
Cheers

I have made some short scalps off the fringes today. What is noticeable is the long hourly candle wicks. Do we get a retrace to 1.23500 or 1.2300 for a decent retrace? Price is very bullish but scalps against bullish action are abundant from these levels.

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Having said. If I go to my weekly chart my 2 yearly 61.8% Fib retrace at 1.27496 looks very realistic at this point.

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Cheers

Trade to trade another day

#721,750
Jan 18, 2023 9:51am Jan 18, 2023 9:51am

BeeTogether
Joined Oct 2020 | Status: Trader | 14,017 Posts | Online Now

Can’t see any signs of a move down right now. Maybe a slow drift towards 12350 first before any signs of a bigger drop.

Insane in the Brain..

#721,751
Jan 18, 2023 9:54am Jan 18, 2023 9:54am

jmss59
Joined Sep 2013 | Status: Trader | 1,407 Posts

I hope that this area will be for distribution

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#721,752
Jan 18, 2023 9:57am Jan 18, 2023 9:57am

pipcenturion
Joined May 2013 | Status: Trader | 1,683 Posts

It seems the dollar bulls have finally won!!!!

What a battle that was.

#721,753
Jan 18, 2023 10:00am Jan 18, 2023 10:00am

Vincent1
Joined Aug 2019 | Status: Trader | 598 Posts

1.1234

#721,754
Jan 18, 2023 10:06am Jan 18, 2023 10:06am

Coreg2004
Joined Oct 2009 | Status: Trader | 5,639 Posts

Quoting Guy1969

Disliked

{quote} How far do you think the bulls can push this? Looking at the H4 chart, all I see is very heavy bullish candle formations.

Ignored

Guy1969, my long-term view is on the 4H chart but for my day trading, I stick to 30M. The DX couldn't hold 101.80 so the next level to watch is 99. Where it takes GU if this happens? I don't know.

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Always trade your own plan...I don't provide trading signals.

#721,755
Jan 18, 2023 10:11am Jan 18, 2023 10:11am

Guy1969
Joined Jul 2021 | Status: Trader | 2,152 Posts

Quoting Coreg2004

Disliked

{quote} Guy1969, my long-term view is on the 4H chart but for my day trading, I stick to 30M. The DX couldn't hold 101.80 so the next level to watch is 99. Where it takes GU if this happens? I don't know. {image}

Ignored

Thanks Coreg, on H4 it is clear that the bulls need a pop above 1.24300 to take full control. Let's see.

Guy

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#721,756
Jan 18, 2023 10:13am Jan 18, 2023 10:13am

donfriday
Joined Jan 2009 | Status: bye FF | 8,806 Posts

Quoting Wavegarrick

Disliked

{quote} {quote} I have made some short scalps off the fringes today. What is noticeable is the long hourly candle wicks. Do we get a retrace to 1.23500 or 1.2300 for a decent retrace? Price is very bullish but scalps against bullish action are abundant from these levels. {image}Having said. If I go to my weekly chart my 2 yearly 61.8% Fib retrace at 1.27496 looks very realistic at this point. {image}Cheers

Ignored

this chart is dirty with money...