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Cable Update (GBPUSD)

  • #727,041
  • Feb 7, 2023 9:02pm Feb 7, 2023 9:02pm
Quoting pipcenturion
USDJPY buy limit at 131.025 stop loss at 130.70 Target : open
i think The macroeconomic backdrop favors short USDJPY.
  • #727,042
  • Feb 7, 2023 9:08pm Feb 7, 2023 9:08pm
Quoting SnailFX
Interesting.. very interesting what they did today. Anyway.. As far as the system is concerned, Bulls are in the driving seat it seems. Next to conquer is H4 TF. 15M Long 30M Long Hourly Long H4 Chart, candle closed right under some R at yellow line, but this candle could close above S at gray line indicating that tommorow we could very well witness Buy. Charts.. *We will see what Asian Session will do, don't expect much though and tommorow am looking to Buy. EUR/USD same story, that's good if you're looking for a Buy tommorow...

Thanks Snail for sharing your technical expertise.
I will keep your advice in mind and await the completion of the final setup before proceeding.

Additionally, I promise to refrain from consuming escargot dishes in the future.

GU
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I come from the future.
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  • #727,043
  • Feb 7, 2023 9:12pm Feb 7, 2023 9:12pm
Quoting Pat Chiko
{quote} Thanks Snail for sharing your technical expertise. I will keep your advice in mind and await the completion of the final setup before proceeding. Additionally, I promise to refrain from consuming escargot dishes in the future. GU{image}
I believe the macroeconomic backdrop favors a weaker gbp!!!!
  • #727,044
  • Edited 10:42pm Feb 7, 2023 9:31pm | Edited 10:42pm
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Quoting tradexyz
{image}
Attached Image (click to enlarge)
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  • #727,045
  • Feb 7, 2023 9:51pm Feb 7, 2023 9:51pm
Quoting ninner
{quote} i think The macroeconomic backdrop favors short USDJPY.
Agreed. I think a halt in US interest rate hikes will be the definitive event of the year, which means the dollar index will be depressed, as will the USDJPY. After all, the US has the biggest influence. Meanwhile, the odds are that Japan will maintain its current monetary policy.
Just follow the trend.
  • #727,046
  • Feb 7, 2023 9:57pm Feb 7, 2023 9:57pm
Quoting ninner
{quote} I believe the macroeconomic backdrop favors a weaker gbp!!!!
Hey, bro. What macro environment makes you think that USDJPY and GBPUSD will weaken at the same time? It doesn't seem logical to me that the two correspond to each other. Isn't it right that the USD is strong, USDJPY rises and GBPUSD falls?
Just follow the trend.
  • #727,047
  • Feb 7, 2023 9:59pm Feb 7, 2023 9:59pm
Quoting ninner
{quote} I believe the macroeconomic backdrop favors a weaker gbp!!!!
Prove it.
I come from the future.
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  • #727,048
  • Feb 7, 2023 10:00pm Feb 7, 2023 10:00pm
Quoting lucaswalliam
{quote} Hey, bro. What macro environment makes you think that USDJPY and GBPUSD will weaken at the same time? It doesn't seem logical to me that the two correspond to each other. Isn't it right that the USD is strong, USDJPY rises and GBPUSD falls?
He's back to smoking some stuff.
I wish he could share some with us....
I come from the future.
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  • #727,049
  • Feb 7, 2023 10:04pm Feb 7, 2023 10:04pm
Quoting Pat Chiko
{quote} Prove it.
Look at the data Chiko sun!!! The Uk is going down the pooper!!!
  • #727,050
  • Feb 7, 2023 10:08pm Feb 7, 2023 10:08pm
Quoting lucaswalliam
{quote} Hey, bro. What macro environment makes you think that USDJPY and GBPUSD will weaken at the same time? It doesn't seem logical to me that the two correspond to each other. Isn't it right that the USD is strong, USDJPY rises and GBPUSD falls?
It can happen when USD is stronger than GBP while JPY is even stronger than USD.
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  • #727,051
  • Feb 7, 2023 10:19pm Feb 7, 2023 10:19pm
Quoting DrDave
{quote}It can happen when USD is stronger than GBP while JPY is even stronger than USD.
It is basically impossible. hahah
Just follow the trend.
  • #727,052
  • Feb 7, 2023 10:30pm Feb 7, 2023 10:30pm
Quoting Yngwie
Short 1.2051 SL 1.2065
closed +5p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #727,053
  • Feb 7, 2023 10:37pm Feb 7, 2023 10:37pm
It's extremely dangerous right now.
It could have bottomed near term at 1.8834/36 before rallying back above 1.90. And if someone predicts this, he may not be wrong because stochastic made a positive cross, a doji, and a bullish candle, but that is insufficient.
Someone else might come.. and say no, It's going down. He also has valid reasons. Why? GBPUSD is almost at the 1.8967-65 resistance level, which could be a hotspot for sellers. Furthermore, the bullish candle did not close above the 1.8953 bearish candle open. rather, it was closed at 1.8946
  • #727,054
  • Feb 7, 2023 10:40pm Feb 7, 2023 10:40pm
Quoting Moty
{quote} It works, I just have to stay disciplined {image}
Moty What multiplier and period are you using in the supertrend tape / histogram?
  • #727,055
  • Edited 11:09pm Feb 7, 2023 10:50pm | Edited 11:09pm
waiting for a break out... sh
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  • #727,056
  • Feb 7, 2023 10:52pm Feb 7, 2023 10:52pm
Quoting Pat Chiko
{quote} Thanks Snail for sharing your technical expertise. I will keep your advice in mind and await the completion of the final setup before proceeding. Additionally, I promise to refrain from consuming escargot dishes in the future. GU{image}
you switched to long before you were short
  • #727,057
  • Feb 7, 2023 10:55pm Feb 7, 2023 10:55pm
Attached Image (click to enlarge)
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yes yes yes
  • #727,058
  • Feb 7, 2023 11:04pm Feb 7, 2023 11:04pm
Quoting pipcenturion
USDJPY buy limit at 131.025 stop loss at 130.70 Target : open
Trade triggered! It drew down just about 3 pips.

The FX space is leveraged.

One needs great precision (especially on entries) lest a small error can become magnified by reason of leverage.
  • #727,059
  • Feb 7, 2023 11:09pm Feb 7, 2023 11:09pm
Can I ask a question?
What tools do you use to determine trends.
I know this is a very basic question, but it has really bothered me for a long time. Am struggling to find an answer.
Thanks!
Just follow the trend.
  • #727,060
  • Feb 7, 2023 11:10pm Feb 7, 2023 11:10pm
Quoting Yngwie
Short 1.2051 SL 1.2065
Quoting Yngwie
{quote} closed +5p
Dem close to early. I think price further down nearby 1.2015 and fly after that.
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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