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Why is GBPUSD called cable? 76 replies

Cable Update - Continued 102 replies

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Cable Update (GBPUSD)

123 a big supporting area right now. Have a feeling if we break below it could be a big break. Now is a good time before NYO to make that break
Insane in the Brain..
Quoting DrDave
{quote} Price already dropped down into the sellside liquidity, so this COULD be a spot for the MM to hang out for a bit and then create an order block to go up to fill the gap. There would then be the stops below that swing low of all the buyers, and then when MM finishes with the gap, drop down to the next "significant" liquidity level. {image}
I do not have a pattern for GU but as EU will drop i beleive cable will too. The gap might have been closed

Lets see

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POSTMASTER
Quoting Robinhood1
{quote} I do not have a pattern for GU but as EU will drop i beleive cable will too. The gap might have been closed Lets see {image}
Dr. You are considering a gap like the spike from above, yes quite good , but in order to have a true gap waves must not meet
POSTMASTER

TODAY(1/24/2023)
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No pips for me today. Sudden drops like in GU today is what my method can struggle to take advantage of. That's ok though as it is not the main stay of my method. It is another day tomorrow and I will keep waiting until the right trade comes along for me to pounce on

Sorry for any disruption that I may have caused earlier on, but I will always ask questions (about trading) if I don't understand something. That's how I (and most of us) learn. As long as any answers are civil and are also on topic then perhaps others can learn too. Being personal with me is not acceptable though.

Sleepy time for me now, back tomorrow and perhaps Uncle Frankie will behave!

----- He (or she!) who is afraid to ask, is ashamed of learning.------Danish proverb
I am neither brave nor stupid...I am just a part time trader
Quoting dantpm
{quote} A couple of details, everyone already knows we are in a recession and in a recession you aren't supposed to buy anything you are supposed to preserve cash and cash flow.
I believe at the start of a recession is where we dont buy assets cause more fall is yet to come. In deep recession, we buy like crazy cause every day will be black Friday, all securities and assets will be valued at discounted price.
Not afraid to be wrong, ik what am goin' to lose!
Quoting Indiara
No pips for me today. Sudden drops like in GU today is what my method can struggle to take advantage of. That's ok though as it is not the main stay of my method. It is another day tomorrow and I will keep waiting until the right trade comes along for me to pounce on Sorry for any disruption that I may have caused earlier on, but I will always ask questions (about trading) if I don't understand something. That's how I (and most of us) learn. As long as any answers are civil and are also on topic then perhaps others can learn too. Being...
No one literally no one has the right to question someone on his/her personal life/issues unless that someone is mummy
Not afraid to be wrong, ik what am goin' to lose!
Quoting Fardeen1209
{quote} I believe at the start of a recession is where we dont buy assets cause more fall is yet to come. In deep recession, we buy like crazy cause every day will be black Friday, all securities and assets will be valued at discounted price.
Assuming that you have cash or equity to invest. Looking back at last year, a lot of people did not have available funds. When guys like Jeff Bezos lose 80 billion dollars, the money dries up for some.
Quoting Robinhood1
{quote} Dr. You are considering a gap like the spike from above, yes quite good , but in order to have a true gap waves must not meet
I need your definition of "wave" to be able to understand what you mean.

Marking some on the chart would be a helpful visual aid.
To free Gazans of Hamas, use whatever it takes.
Quoting RemyLou
{quote} nice curves
Quoting Robinhood1
{quote} Nzdjpy went short 84.79
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POSTMASTER
Quoting DrDave
{quote} I need your definition of "wave" to be able to understand what you mean. Marking some on the chart would be a helpful visual aid.
The post before this one shows you what i mean. If the low to the left was much higher, it should come back to close the spike down at some point. It is so low that the wave coming from below met each other. It could still go up and close the spike down but not necessaraley
POSTMASTER
Quoting Indiara
No pips for me today. Sudden drops like in GU today is what my method can struggle to take advantage of. That's ok though as it is not the main stay of my method. It is another day tomorrow and I will keep waiting until the right trade comes along for me to pounce on Sorry for any disruption that I may have caused earlier on, but I will always ask questions (about trading) if I don't understand something. That's how I (and most of us) learn. As long as any answers are civil and are also on topic then perhaps others can learn too. Being personal...
He who is ashamed to ask has most likely been conditioned by his society to believe that ignorance is a major flaw with a direct impact on his value. Therefore, questioning must be suppressed in order to prevent revealing this flaw.
To free Gazans of Hamas, use whatever it takes.
Quoting Fardeen1209
{quote} No one literally no one has the right to question someone on his/her personal life/issues unless that someone is mummy
Ahhh. So you are saying that free speech is restricted only to dear Mum. Interesting stand.
To free Gazans of Hamas, use whatever it takes.
Quoting Robinhood1
{quote} The post before this one shows you what i mean. If the low to the left was much higher, it should come back to close the spike down at some point. It is so low that the wave coming from below met each other. It could still go up and close the spike down but not necessaraley
Hard drops occur when the wave that retraces does no meet its sister wave on the same direction but eventually come back to close the gap. I do not know if i made myself understood.
POSTMASTER
Quoting dantpm
{quote} Assuming that you have cash or equity to invest. Looking back at last year, a lot of people did not have available funds. When guys like Jeff Bezos lose 80 billion dollars, the money dries up for some.
Makes sense, but last year, the positive growth rate is reduced but not yet becoming negative. But in a deep recession, like the great recession 1920s, leverage will be more cheaper, govt will reduce rate to zero and will also adopt Quantitative Easing, and also with a higher probability of fiscal easing also (lower tax rate) to encourage more investment. That the accumulation point. I'll post the economic cycle to better explain what i'm trying to say when i get back to my desk.
Not afraid to be wrong, ik what am goin' to lose!
yo
1.23000 is not goona hold
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Quoting Robinhood1
{quote} The post before this one shows you what i mean. If the low to the left was much higher, it should come back to close the spike down at some point. It is so low that the wave coming from below met each other. It could still go up and close the spike down but not necessaraley
Not clear enough. I see many lows to the left on that chart. I also don't know which spike you are referring to.

If it's too much trouble to mark some, don't worry about it. I'll just move on to another topic.
To free Gazans of Hamas, use whatever it takes.
Quoting Robinhood1
{quote} Hard drops occur when the wave that retraces does no meet its sister wave on the same direction but eventually come back to close the gap. I do not know if i made myself understood.
No, you did not make it clear. This is where a visual aid would be more helpful.
To free Gazans of Hamas, use whatever it takes.
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