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Cable Update (GBPUSD)

  • #724,741
  • Jan 31, 2023 5:00am Jan 31, 2023 5:00am
When we are pulling back on the monthly time frame. Many traders lose money because they see the market as bullish. Monthly pull back look like a major move on the lower time frame.

Good luck.
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  • #724,742
  • Jan 31, 2023 5:06am Jan 31, 2023 5:06am
Quoting palpite
{quote} The time is now, buying the MA200- H1.
It is interesting how close the 1 day 10 period EMA and the 1 hr 200 period EMA track one another .
  • #724,743
  • Jan 31, 2023 5:07am Jan 31, 2023 5:07am
left POC @ 1.239. Can stay there long time, but since we are in a flat phase, high prob to reach today/tomorrow
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Air force
  • #724,744
  • Jan 31, 2023 5:08am Jan 31, 2023 5:08am
...bulls are trying, 3rd 5min attempt now to get south of the prev 1hr sw lo zone @ current dly lo, is repelled.
Trader with an Edge.
  • #724,745
  • Jan 31, 2023 5:11am Jan 31, 2023 5:11am
Beating on Abook where no one has

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POSTMASTER
  • #724,746
  • Jan 31, 2023 5:12am Jan 31, 2023 5:12am
Expecting it to come till 1.22820
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  • #724,747
  • Jan 31, 2023 5:15am Jan 31, 2023 5:15am
Ty mister Aussie for the drop
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yes yes yes
  • #724,748
  • Jan 31, 2023 5:17am Jan 31, 2023 5:17am
Quoting Headland
...bulls are trying, 3rd 5min attempt now to get south of the prev 1hr sw lo zone @ current dly lo, is repelled.
It looks like consolidation.
Down in Asia, down in Frankfurt/London is supposed to suggest up in NY.
  • #724,749
  • Jan 31, 2023 5:20am Jan 31, 2023 5:20am
Quoting shay14
still not convinced that we going straight down, i expect a 100 pip plus spike up
Any particular reason why you think this
  • #724,750
  • Jan 31, 2023 5:27am Jan 31, 2023 5:27am
There is a key level at 1.2300 and it amount to a zone between 1.23059/1.23031. Price will break below this zone and we shall ride it down to the next zone between 1.22550/1.22429. Although this zone is weak but price may have a minor retracement at this level because it must have done its normal regulation pip movement per day.
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  • #724,751
  • Jan 31, 2023 5:30am Jan 31, 2023 5:30am
Quoting dantpm
{quote} It is interesting how close the 1 day 10 period EMA and the 1 hr 200 period EMA track one another .
MA200 - Smoothed. This indicator have the option for you change the Hi/Low for the others MA's.

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  • #724,752
  • Jan 31, 2023 5:37am Jan 31, 2023 5:37am
Quoting BigNumbers
There is a key level at 1.2300 and it amount to a zone between 1.23059/1.23031. Price will break below this zone and we shall ride it down to the next zone between 1.22550/1.22429. Although this zone is weak but price may have a minor retracement at this level because it must have done its normal regulation pip movement per day.

I just outlined the key level/ Zone at 1.2300. Price should trade through it as there is still time.
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  • #724,753
  • Jan 31, 2023 5:39am Jan 31, 2023 5:39am
123 is the big barrier. Will be a tough one to crack
Insane in the Brain..
  • #724,754
  • Jan 31, 2023 5:41am Jan 31, 2023 5:41am
...price did make a marginal new current dly lo on that last dip down but met with more demand @ top of that prev 1hr/4hr sw lo zone again = prev supp = pot supp, which extends down to 2281 first, then last week's 2262 lo. The former being a test of the later.

Plenty here seems to know all the trading plans of all market participants and have netted them down so that they know what to expect/where price is going! Impressive! Or of course, they are delusional. I know which my money is on!

???
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Trader with an Edge.
  • #724,755
  • Jan 31, 2023 5:42am Jan 31, 2023 5:42am
Quoting BigNumbers
When we are pulling back on the monthly time frame. Many traders lose money because they see the market as bullish. Monthly pull back look like a major move on the lower time frame. Good luck.

monthly pull back have not yet started

pull back pay happen in different way but mostly happen after NFP before continuation

my view
MY OPINION NOT FINANCIAL ADVISE
  • #724,756
  • Jan 31, 2023 5:47am Jan 31, 2023 5:47am
Quoting DrDave
{quote} the last leg up should breach the old resistance I see the H1 as building an H8 down swing. Therefore, I don't expect that the next H1 swing up will close above the horizonatal line across the prior high. But, whether it does or does not is of little consequence for me, because I wait for price to move and then follow it.
Really, I have to wonder why today so many seem surprised at a big down move when it was already CLEAR 18 hours ago that H8 was making a swing down. And if H8 is swinging down, would you expect some little 20-30 pips move down???
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  • #724,757
  • Jan 31, 2023 5:49am Jan 31, 2023 5:49am
Quoting Headland
...price did make a marginal new current dly lo on that last dip down but met with more demand @ top of that prev 1hr/4hr sw lo zone again = prev supp = pot supp, which extends down to 2281 first, then last week's 2262 lo. The former being a test of the later. Plenty here seems to know all the trading plans of all market participants and have netted them down so that they know what to expect/where price is going! Impressive! Or of course, they are delusional. I know which my money is on! ??? {image}
1. Are you going to share your idea? (Edit) or was the you shall not pass your idea?
2. Is your projection for during the day or the end of the day?
  • #724,758
  • Jan 31, 2023 5:53am Jan 31, 2023 5:53am
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  • #724,759
  • Jan 31, 2023 5:54am Jan 31, 2023 5:54am
Quoting dantpm
{quote} 1. Are you going to share your idea? 2. Is your projection for during the day or the end of the day?
Lol, I meant I know which my money is on re whether some here have the full trading plans of every market participant, -or- whether they are delusional! I have no expectation, no projection, no forecast, no prediction. None of us know - so it's a fools' game, particularly when you don't have to know to make money trading a market. I just follow price and certain studies of price, and react accordingly - consistent with my edge. The 'you shall not pass' was accompanied by a '???'
Trader with an Edge.
  • #724,760
  • Jan 31, 2023 5:59am Jan 31, 2023 5:59am
Quoting BigNumbers
We just arrived our first key level 1.2300 we wait for price action to see if we can break below then go add more short and head to next zone (between 1.22555/1.22429) our final objective is at 1.21550…. There is a market shift from bear to bull on the monthly Tf.. we are just pulling back. All my analysis are from the monthly time frame. {image}
There is a market shift from bear to bull on the monthly Tf.
LOL.

Frist, I am going to make an assumption that by "market shift" you mean trend change. (If you would use commonly accepted terms in technical analysis, it would help in understanding exactly what you mean."Market shift" doesn't really have any meaning.)

Are you serious??? The MN is in a big down trend. The current up swing is just a rally, unless as time progresses, evidence appears to change that view. And the way you stated it, it implies that there is a RECENT direction change. Clearly, being in the 5th bar of a swing is hardly "recent".

So, there is no confirmed trend change from down to up on MN. There is a confirmed swing up. And if you are just now seeing that, you are several months late to the arena.
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