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Cable Update (GBPUSD)

  • #725,821
  • Feb 2, 2023 2:06pm Feb 2, 2023 2:06pm
One day it's bulls next day bears, it really is just 50/50...
  • #725,822
  • Feb 2, 2023 2:11pm Feb 2, 2023 2:11pm
Quoting BrainBucks
{quote} BEARS be testing my resolve big time! I might have to wave the white flag pretty soon.
BrainBucks, GU makes LL-LH even on the 3M chart. Give me your technical reason to go long, and I might give you my absolution.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 02.02 3M.png Size: 27 KB
Always trade your own plan...I don't provide trading signals.
  • #725,823
  • Feb 2, 2023 2:12pm Feb 2, 2023 2:12pm
Quoting Headland
... price @ the current dly lo @ 147% 30day adr 1hr below {image}
This is with news of rates that came out as expected!
  • #725,824
  • Feb 2, 2023 2:12pm Feb 2, 2023 2:12pm
...a stronger than expected/forecast U.s NFP # and to an extent ISM Services # later could finish longer-term £ bulls off tomorrow after the battering they have taken today, particularly retailers holding long. Conversely, they may get some relief. Who knows.
Trader with an Edge.
  • #725,825
  • Feb 2, 2023 2:13pm Feb 2, 2023 2:13pm
Cable looking VERY heavy here after both BOE and FED announcements. If we end up closing the day below the red line and the Bearish engulfing candle holds (which I am sure it will, as there is only 2 hours left) I think we go down to 1.19 handle from here, if we get price continuation below the close of the daily bearish candle (highlighted in pink)

Good good luck everyone
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  • #725,826
  • Feb 2, 2023 2:14pm Feb 2, 2023 2:14pm
Quoting dantpm
{quote} This is with news of rates that came out as expected!
Yeh but like the fomc y/day it was the dovish comments re inflation peaking etc that did for it today.
Trader with an Edge.
  • #725,827
  • Feb 2, 2023 2:15pm Feb 2, 2023 2:15pm
Quoting Coreg2004
{quote} BrainBucks, GU makes LL-LH even on the 3M chart. Give me your technical reason to go long, and I might give you my absolution. {image}
Hahah yea thanks a bunch it doesn't matter now cos I quit the LONGS already
  • #725,828
  • Feb 2, 2023 2:15pm Feb 2, 2023 2:15pm
Quoting Moty
You are good friend mister stochastic {image}
Stochastic 8.3.3 and MA200-Smoothed is very good. Test and you will see. But use stop loss below or above the MA, not leave the trades running with loss, because you use too much lot size. Try to use 0.01 lot. Think for long time.


Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 22 KB
Together we can be strongest
Vantage Return This Month: na
  • #725,829
  • Feb 2, 2023 2:15pm Feb 2, 2023 2:15pm
Quoting Headland
...a stronger than expected/forecast U.s NFP # and to an extent ISM Services # later could finish longer-term £ bulls off tomorrow after the battering they have taken today, particularly retailers holding long. Conversely, they may get some relief. Who knows.
The Wednesday NFP came out very weak.
  • #725,830
  • Feb 2, 2023 2:22pm Feb 2, 2023 2:22pm
Downside Fibs (of 'main' swing lo's up to 2448)
2225 61.8% 4hr
2215 38.2% dly
2209 85.4% 4hr
2172 76.4% 4hr
2145 23.6% dly]
2144 50% dly] 3 cluster
2142 85.4% 4hr]
2120 23.6% dly
2090 23.6% dly 0327-2448
2071 61.8% dly
1983 76.4% dly
Trader with an Edge.
  • #725,831
  • Feb 2, 2023 2:25pm Feb 2, 2023 2:25pm
Quoting palpite
{quote} I only use the stochastic when have consolidation and for to close the trades.. If the price is dropping or rising, stochastic is the worst indicator for to use.
If the price is dropping or rising, stochastic is the worst indicator for to use.
In those cases, where the stochastic is running at or near an extreme, it shows that you simply need to move to a higher TF. It's not the indicator that is the problem but rather how you are using it.
To free Gazans of Hamas, use whatever it takes.
  • #725,832
  • Feb 2, 2023 2:26pm Feb 2, 2023 2:26pm
The PULL BACK is almost over. Before the week ends we are going to see the buy we have never seen before.


Good luck.
Attached Image (click to enlarge)
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My telegram: https://t.me/avidforex
  • #725,833
  • Feb 2, 2023 2:36pm Feb 2, 2023 2:36pm
Quoting DrDave
{quote} If the price is dropping or rising, stochastic is the worst indicator for to use. In those cases, where the stochastic is running at or near an extreme, it shows that you simply need to move to a higher TF. It's not the indicator that is the problem but rather how you are using it.
Of course not, no one knows where the price will stop on any given time frame.. The stochastic is an indicator for to use in consolidation, wait the price stop the movement and the stochastic will work very well.
Together we can be strongest
Vantage Return This Month: na
  • #725,834
  • Feb 2, 2023 2:37pm Feb 2, 2023 2:37pm
Inserted Video
  • #725,835
  • Feb 2, 2023 2:37pm Feb 2, 2023 2:37pm
The assault on daily low should subside for the time being.
Retracing scalpers should swoop in for quickie LONGS at current levels.
  • #725,836
  • Feb 2, 2023 2:38pm Feb 2, 2023 2:38pm
Gold long at 1912
  • #725,837
  • Feb 2, 2023 2:42pm Feb 2, 2023 2:42pm
Quoting DrDave
{quote} If the price is dropping or rising, stochastic is the worst indicator for to use. In those cases, where the stochastic is running at or near an extreme, it shows that you simply need to move to a higher TF. It's not the indicator that is the problem but rather how you are using it.
I heard a lot of this indicators were used for stocks and don't necessarily work as good on FX.
  • #725,838
  • Feb 2, 2023 2:43pm Feb 2, 2023 2:43pm
Quoting BigNumbers
The PULL BACK is almost over. Before the week ends we are going to see the buy we have never seen before. Good luck. {image}
Can't wait for tommorow. NFP closing this week.

Who will come out as a winner? Bull or Bear?

We're forgetting there's also ISM Services PMI after NFP.. will be interesting tommorow definitely.
  • #725,839
  • Feb 2, 2023 2:46pm Feb 2, 2023 2:46pm
Quoting BigNumbers
The PULL BACK is almost over. Before the week ends we are going to see the buy we have never seen before. Good luck. {image}
  • #725,840
  • Feb 2, 2023 2:48pm Feb 2, 2023 2:48pm
Quoting Coreg2004
{quote} Jolita, it would be a black swan for me and I had already seen one at 1.03. Seeing 2 in a lifetime has very low odds.
Thats what I thought after flash crash. But than Covid came... I thought of it again and than this Asian session low came.. GU always surprises us.
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