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Cable Update (GBPUSD)

  • #724,641
  • Jan 30, 2023 3:58pm Jan 30, 2023 3:58pm
Quoting BeeTogether
{quote} I’m a bit worried about the news. Yes .25 is priced in from FOMC I sense a big spike up though BoE looking at ending its rate rises after this week. However the article I posted earlier that the UK recession might not be as bad could send the pair towards 127
Positive outlook turned negative, thanks to top politicians.
  • #724,642
  • Jan 30, 2023 6:02pm Jan 30, 2023 6:02pm
Quoting SnailFX
Both trades closed. EURUSD at 1.08931 from 1.09 and GBPUSD at 1.23776 from 1.23925. I am done for today (I really am! ). See you on Fed, won't be able to talk bussiness tommorow.. Hint: always watch out for candles without wicks!
Can you say more about candle without wick s?
  • #724,643
  • Jan 30, 2023 6:12pm Jan 30, 2023 6:12pm
UJ area to watch for short.
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  • #724,644
  • Jan 30, 2023 6:53pm Jan 30, 2023 6:53pm
I'm short and my tp is around 1.21530 if price touches the trend line before getting to my objective i will close manually...

Here is what is going to happen today.. Price will trade to the open of previous day candle and then melt down.. Today's candle will be a Hammer candle and with a long wick and it will close bearish...

Good luck..
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My telegram: https://t.me/avidforex
  • #724,645
  • Jan 30, 2023 7:03pm Jan 30, 2023 7:03pm
high-impact events move prices to the strongest technical points!!
mat to the 2nd or 3rd S/Rs
each day 10%,,,, https://www.forexfactory.com/thread/1371538
  • #724,646
  • Jan 30, 2023 7:44pm Jan 30, 2023 7:44pm
Sold 1.2368 SL 1.2390
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #724,647
  • Jan 30, 2023 8:02pm Jan 30, 2023 8:02pm
Slide to yesterday's NY low or below it for buy day.

just an opinion, im selling now 1.2365 for 30 pips.

RRR 1:3.8
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  • #724,648
  • Jan 30, 2023 8:15pm Jan 30, 2023 8:15pm
Quoting palpite
Next pivot daily - 1.2377. Maybe a pullback there.
Same here..
  • #724,649
  • Jan 30, 2023 8:27pm Jan 30, 2023 8:27pm
Quoting KevinZeng
{quote} Can you say more about candle without wick s?
Always wait for the candle to create wick. If let's say candle starts and goes 5 pips up immediately without leaving the wick down, in 99% of the times it will go down to create a wick and then it will choose where it wants to go. It's important that candle has a wick, the only candles that don't have it are candles from really high impact news.

As you saw yesterday with the 15M candle on GBPUSD which started going down without leaving the wick up. It was SO OBVIOUS that they were trying to create a wick on this candle but almost failed due to the Bears pressure and once they did manage to do it, the price on the next 15M candle just dropped. You could feel the drop is imminent.

What I'm trying to say is, candle will have wicks from the both sides 98% of the times, so if you want to sell but you see a push down without the wick up then wait for the wick and get the best price, same for buying.
  • #724,650
  • Jan 30, 2023 8:31pm Jan 30, 2023 8:31pm
Pound Yen, I missed the timing of short addition.
Will there be another chance?
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  • #724,651
  • Jan 30, 2023 8:32pm Jan 30, 2023 8:32pm
Range

1.22800 - 1.24000

Potential low and potential high for today.
  • #724,652
  • Jan 30, 2023 8:38pm Jan 30, 2023 8:38pm
For Swing traders, if we're lucky, we will witness 1.24 again today, if not some us missed the best prices. More and more Bearish by the day, can't go on forever, rally that is..
  • #724,653
  • Jan 30, 2023 9:02pm Jan 30, 2023 9:02pm
Quoting Whale
Slide to yesterday's NY low or below it for buy day. just an opinion, im selling now 1.2365 for 30 pips. RRR 1:3.8 {image}
1.2315X feel like a sweet spot for the price.
I will look for buy there.

nevertheless I will tp my short at 1.2336
  • #724,654
  • Jan 30, 2023 9:27pm Jan 30, 2023 9:27pm
Efficacy of candle wick.
When a large candle wick appears, it is the lower bar that determines whether it is a reversal sign or a temporary stop.
For this H1 lower mustache, M15 divides CandleLow and after BullsCandle
Wiks lowers without being able to rise. In other words, it is judged as a trend continuation.
However, I think it is dangerous to judge only by candle wick.
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  • #724,655
  • Jan 30, 2023 9:29pm Jan 30, 2023 9:29pm
Quoting montygoldy
Trying a buy here for 20pips.. dxy come on time to retrace a bit…
still holding longs looking for 1.23800…
Extreme gut feeling trader
  • #724,656
  • Edited 9:45pm Jan 30, 2023 9:34pm | Edited 9:45pm
Quoting sakimer
Efficacy of candle wick. When a large candle wick appears, it is the lower bar that determines whether it is a reversal sign or a temporary stop. For this H1 lower mustache, M15 divides CandleLow and after BullsCandle Wiks lowers without being able to rise. In other words, it is judged as a trend continuation. However, I think it is dangerous to judge only by candle wick. {image}
Well, we will test this today and we will test this right now.

So, 98% of the candles give wicks. On GBPUSD H4 candle DIDN'T give wick up. Buying should be correct now at any price until the top of H4 candle, at least.

2 and a half more hours to find out.

Edit: doesn't look good. Bears are in hurry it seems.
  • #724,657
  • Jan 30, 2023 9:37pm Jan 30, 2023 9:37pm
S1 1.23500
S2 1.22700

R1 1.23700
R2 1.24000
  • #724,658
  • Jan 30, 2023 9:45pm Jan 30, 2023 9:45pm
Now, I wonder.. if plan was to bring the price down to 1.21 or 1.188 why do it in these two days before Fed? Why not catch Buyers and use Fed's momentum to grab Buyers money?
  • #724,659
  • Jan 30, 2023 9:47pm Jan 30, 2023 9:47pm
Quoting SnailFX
Now, I wonder.. if plan was to bring the price down to 1.21 or 1.188 why do it in these two days before Fed? Why not catch Buyers and use Fed's momentum to grab Buyers money?
you act as though the market is controlled by some entity or entities. The market is just simply the market my friend.
Master your mind. Master Trading.
  • #724,660
  • Jan 30, 2023 9:49pm Jan 30, 2023 9:49pm
Quoting KareemAliFx
{quote} you act as though the market is controlled by some entity or entities. The market is just simply the market my friend.
It's controlled by the big banks. You can call them whatever you want..
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