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Cable Update (GBPUSD)

  • #727,041
  • Feb 7, 2023 11:02pm Feb 7, 2023 11:02pm
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 11:08pm Feb 7, 2023 11:08pm
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 11:12pm Feb 7, 2023 11:12pm
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 Feb 8, 2023 12:42am Feb 7, 2023 11:31pm | Edited Feb 8, 2023 12:42am
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Quoting tradexyz
{image}
Attached Image (click to enlarge)
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  • #727,045
  • Feb 7, 2023 11:51pm Feb 7, 2023 11:51pm
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 11:57pm Feb 7, 2023 11:57pm
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 11:59pm Feb 7, 2023 11:59pm
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 8, 2023 12:00am Feb 8, 2023 12:00am
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 8, 2023 12:04am Feb 8, 2023 12:04am
Quoting Pat Chiko
{quote} Prove it.
Look at the data Chiko sun!!! The Uk is going down the pooper!!!
  • #727,050
  • Feb 8, 2023 12:08am Feb 8, 2023 12:08am
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 8, 2023 12:19am Feb 8, 2023 12:19am
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 8, 2023 12:30am Feb 8, 2023 12:30am
Quoting Yngwie
Short 1.2051 SL 1.2065
closed +5p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #727,053
  • Feb 8, 2023 12:37am Feb 8, 2023 12:37am
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 8, 2023 12:40am Feb 8, 2023 12:40am
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 1:09am Feb 8, 2023 12:50am | Edited 1:09am
waiting for a break out... sh
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  • #727,056
  • Feb 8, 2023 12:52am Feb 8, 2023 12:52am
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 8, 2023 12:55am Feb 8, 2023 12:55am
Attached Image (click to enlarge)
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yes yes yes
  • #727,058
  • Feb 8, 2023 1:04am Feb 8, 2023 1:04am
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 8, 2023 1:09am Feb 8, 2023 1:09am
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 8, 2023 1:10am Feb 8, 2023 1:10am
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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