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Cable Update (GBPUSD)

  • #724,801
  • Jan 31, 2023 7:32am Jan 31, 2023 7:32am
Quoting Headland
{quote} To the extent there is potential supp here, re my 4hr chart above? Price has only traveled 64% 30day adr so far today though.
...and then the fundamentals happened!
  • #724,802
  • Jan 31, 2023 7:32am Jan 31, 2023 7:32am
Quoting BigNumbers
Enjoy it! {image}
Done 10 and 15 pips
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  • #724,803
  • Edited 9:58am Jan 31, 2023 7:33am | Edited 9:58am
Quoting BigNumbers
You will not understand my point of view. I have said it over and over again when it is obvious you can no longer make money from it then it is subject to manipulation. I’m telling you again that there is a pull back on the way just relax and watch it happen. By the time the weekly and monthly time frame indicate the pull back, then you can no longer make money from the move. You have to see them happening even before it happen. I already knew there will be a pull back today so you see my levels are pointing down and prices are reacting perfectly...
By the time the weekly and monthly time frame indicate the pull back, then you can no longer make money from the move.
That is not correct. The pullback move on the MN and W are BUILT by the TFs below them going into down trends. So the W INDICATING that a pullback is underway enables dropping to smaller TFs and finding the RALLY to sell. THAT is how to make money on the W move AFTER the W has indicated that it is underway.


You have to see them happening even before it happen.
That is not true. You can see the smaller TFs building a swing on a larger TF, but there is no guarantee that the specific move underway on a smaller TF will continue to build the higher TF in the current direction or if it will turn into a failure and revert back to the other direction. Look for yourself how many times you see H4 in a down swing, then M15 go into an uptrend, M30 go into an uptrend, leading you to think that H4 is soon going to reverse from a down swing to an upswing, but then price simply goes down and continues going down until EVERY TF below H4 is once again in a down trend, and H4 continues down more with no sign of ending.
To free Gazans of Hamas, use whatever it takes.
  • #724,804
  • Jan 31, 2023 7:34am Jan 31, 2023 7:34am
Quoting BigNumbers
{quote} Omg! I just realized I see the market differently maybe that’s why we may disagree in a certain analysis. It is not my fault I tried two years trying to study what normal pull backs, retracement, highs and lows, tops and bottoms mean! Guess what I failed woefully. Until I sat down put everything aside and I started looking at the market myself taking note myself. Can you explain what pull back means ? Well I study pull back from equilibrium candle! That’s all I can tell you for now

Pull back mean correction ? where is the correction coming from? From the time frame you analys from correction may come from Any tf so first of all you need to know the range you want to trade

the most common range daily,weekly and monthy

if you follow how George trade or Coreg yoyu will see the show range extension and i also trade in such way too but mostly in 1000-10000 pips range


Market is a range so to make it simple what you call correction is a actually a trend on other TF.
MY OPINION NOT FINANCIAL ADVISE
  • #724,805
  • Jan 31, 2023 7:35am Jan 31, 2023 7:35am
What is happening? There is no red news for GBP or USD 4 mins ago but there's a spike in price to GU, the only red news that time is relating to CAD...
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  • #724,806
  • Jan 31, 2023 7:36am Jan 31, 2023 7:36am
Quoting GODofMC
{quote} Done 10 and 15 pips {image}
It will come down!
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  • #724,807
  • Jan 31, 2023 7:37am Jan 31, 2023 7:37am
Quoting BrainBucks
{quote} ...and then the fundamentals happened!
And then the technical re the pot res, lol

1hr below
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Trader with an Edge.
  • #724,808
  • Jan 31, 2023 7:38am Jan 31, 2023 7:38am
Quoting pipfarm
{quote} Personally i do both bottom up and top down, the reason for this is because i focus on the larger swings , each timeframe is set up to show the larger and smaller swings. Starting my analysis on a lower timeframe helps to see the reversal and continuations as they are building. Example, one larger swing on say the H1 equates to a smaller swing on H4 which will be within the H4 larger swing, if H4 Larger swings are trending down i can take the H1 swing in the same direction Two larger swings on H1 equate to one larger swing on H4, if H4 larger...
i do both bottom up and top down,

I suspect that you know I also analyze from both directions, as I have posted many times about change coming from below and progressing upward through the TFs. I simply start with a top-down analysis to find the biggest TF that is in control, and then examine the TFs under it for the progression of the retracements/continuations.
To free Gazans of Hamas, use whatever it takes.
  • #724,809
  • Jan 31, 2023 7:39am Jan 31, 2023 7:39am
Quoting Reverso
What is happening? There is no red news for GBP or USD 4 mins ago but there's a spike in price to GU, the only red news that time is relating to CAD...
New York Open ...
  • #724,810
  • Jan 31, 2023 7:40am Jan 31, 2023 7:40am
Quoting Reverso
What is happening? There is no red news for GBP or USD 4 mins ago but there's a spike in price to GU, the only red news that time is relating to CAD...
some yellow data that wasn’t too good for USD
Insane in the Brain..
  • #724,811
  • Jan 31, 2023 7:41am Jan 31, 2023 7:41am
Quoting Pat Chiko
{quote} UJ Closed all sclping position.{image}
UJ

Scalpimg long at demand zone.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #724,812
  • Jan 31, 2023 7:41am Jan 31, 2023 7:41am
Quoting Reverso
What is happening? There is no red news for GBP or USD 4 mins ago but there's a spike in price to GU, the only red news that time is relating to CAD...
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When there is nothing to move, less important news can shake the market.
  • #724,813
  • Jan 31, 2023 7:44am Jan 31, 2023 7:44am
Quoting Indigo45
{quote} {image} When there is nothing to move, less important news can shake the market.
Knowledge well received.
There is something to move though, a red news for US coming in about 1 hour +, CB consumer confidence
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  • #724,814
  • Jan 31, 2023 7:45am Jan 31, 2023 7:45am
Quoting BigNumbers
{quote} It will come down!
Thats why im taking a little Very little
A volatile move is best for taking both buy and sell 5 pips
Accumulation of 40 pips in some minutes but this is gambling, me myself not liked it.
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  • #724,815
  • Jan 31, 2023 7:47am Jan 31, 2023 7:47am
Quoting Indigo45
{quote} {image} When there is nothing to move, less important news can shake the market.
My bet would be they're forcing you out of Selling. We'll see.. in a hour.
  • #724,816
  • Jan 31, 2023 7:47am Jan 31, 2023 7:47am
Quoting donfriday
{quote} can you explain what pullback means?
The commonly accepted meaning of pullback is a retracement swing in an uptrend. But you will find many people call ANY retracement in a swing of any direction a pullback, because price is "pulling back" from where it was heading. So in an up trend, the "pullback" is price "pulling down from up". (And if it is indeed only a pullback, then an up continuation will follow.)

A retracment swing in a downtrend is a rally.

And in a down trend, the "pullback" (rally) is price "pulling up from down". (And if it is indeed only a rally, then a down continuation will follow.)
To free Gazans of Hamas, use whatever it takes.
  • #724,817
  • Jan 31, 2023 7:49am Jan 31, 2023 7:49am
Daily and Monthly close today will reveal to us everything.
  • #724,818
  • Jan 31, 2023 7:49am Jan 31, 2023 7:49am
Quoting Reverso
What is happening? There is no red news for GBP or USD 4 mins ago but there's a spike in price to GU, the only red news that time is relating to CAD...
No idea either, I saw a divergence at 5 min TF so I entered and boom. It went up. 1k USD Profit. :/
Exhausted
  • #724,819
  • Jan 31, 2023 7:54am Jan 31, 2023 7:54am
Quoting Reverso
{quote} Knowledge well received. There is something to move though, a red news for US coming in about 1 hour +, CB consumer confidence
Perhaps today's remaining US High impact News will have no impact on price move (as per my data base).
US is focusing on Inflation and increasing Interest rates...High interest rate is affecting Producer Prices...Lower demand for goods...decrease in jobs...mainly.

So Jobs Data is market mover mainly and Producer Price indices. You will not see major moves on CPI (as previous almost 200-250 Pips).
While when US CPI moved market...GBP or EUR CPI didn't move the market price at all...Why...Because central bank major shift was to control CPI by increasing the interest rates but to save economy from contracting...Mainly in the form of GDP and JOBs...Jobs are big blow the the Officials...that moves the market.

That's why Employment cost index moved the market.
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  • #724,820
  • Jan 31, 2023 7:56am Jan 31, 2023 7:56am
Quoting Elysion
{quote} No idea either, I saw a divergence at 5 min TF so I entered and boom. It went up. 1k USD Profit. :/
Even as a newbie over a dozen years ago, I don't remember ever doubting statements like your signature.
Especially with scalping, I only laugh internally when people ignorantly dismiss the possibility of turning $40 into 10k!
Well done
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