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Cable Update (GBPUSD)

  • #741,961
  • Apr 19, 2023 1:19pm Apr 19, 2023 1:19pm
1h ptz/ possibility may be smart money is cooking something .gbp usd 1h foz er ir sp st sz ap ob ptz update
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Say something meaningful or Silence!!
  • #741,962
  • Apr 19, 2023 1:22pm Apr 19, 2023 1:22pm
What do you use if not charts, if you don't mind my asking?

Quoting pipcenturion
{quote} I don't use charts but this is close to what my VAP numbers tell me. {image}
Funded trader
  • #741,963
  • Apr 19, 2023 1:25pm Apr 19, 2023 1:25pm
Quoting LitEU
{quote} SL at BE
Long SL hit at BE
  • #741,964
  • Apr 19, 2023 1:27pm Apr 19, 2023 1:27pm
Quoting sbmortimer
What do you use if not charts, if you don't mind my asking? {quote}
I use historic data from the mt4 (open, high, low, close and volume) for different periods.

I do my analysis on MS Excel.
  • #741,965
  • Apr 19, 2023 1:47pm Apr 19, 2023 1:47pm
Interestingly, retail client positioning shows a strong sell bias on GU.
This could be another bullish indicator who knows
  • #741,966
  • Apr 19, 2023 2:04pm Apr 19, 2023 2:04pm
Quoting hans91
{quote} Hi Leon, nice trade ! if i may ask, will you hold all your long cable position till 1.3 to take profit? or holding longer till around 1.33 - 1.35? i see that cable has a potential reach 1.336 - 1.34 area then big drops..i don't know if my analysis is true or not, but this thing is climbing higher each day even the fundamental of england is not look so good i think.
Hi Hans,
Your targets are certainly possible. I take it one bridge at a time. Here's the thing with fundamentals. Even though the outlook for the UK might not look good at this time, a target of 1.33000 could simply be a correction in the bigger picture. Simply beyond my scope and I steer away from fundamentals. I also look at the Dollar and I don't see a bright picture being painted.
I do believe that technicals play out just like daily and weekly Adr's, ATR's and Fib retracements, harmonic patterns, elliot waves and so forth play out. It is the harmonic flow of the market that is important to me. Most look at it from a daily perspective. I look at it from a yearly and monthly perspective.
To be honest. If I had to worry about fundamentals and the doom and gloom of the Uk and the Dollar. I simply would be too scared to trade.
Hope I answered your question.
Cheers.
Trade to trade another day
  • #741,967
  • Apr 19, 2023 2:28pm Apr 19, 2023 2:28pm
Strange day.

good night.
  • #741,968
  • Apr 19, 2023 2:28pm Apr 19, 2023 2:28pm
gbpusd
support - yellow line, we could rise to green line...
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Trendlines H1,H4, SMC
  • #741,969
  • Apr 19, 2023 2:39pm Apr 19, 2023 2:39pm
Revising my strategy, working on my weak points.
I will be back stronger!
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Face 'ur fears & tame 'ur greed
  • #741,970
  • Apr 19, 2023 2:49pm Apr 19, 2023 2:49pm
We could be closing on 0 pips move for the day! Don’t happen often. Tomorrow could be a slow day as there isn’t too much data that could affect it. Let’s see where it takes us
Insane in the Brain..
  • #741,971
  • Apr 19, 2023 2:58pm Apr 19, 2023 2:58pm
Quoting Hamzalolo
I'm still betting on the rise of the dollar index to 104 {image}
Right... but only AFTER another dip down. The rise will start next week. We need one more piece of "bad" news that can be taken either way. Should be fun. Dollar up.. Gold down. If I am right.. we will go until September's FOMC. Slow and steady with some dips to encourage bears, then snatch their Honey.
Don't compare your trades to others. Most often the masses are the asses
  • #741,972
  • Apr 19, 2023 3:04pm Apr 19, 2023 3:04pm
Quoting Pat Chiko
{quote} Hope you're well. There is no bull or bear in control, it is just Algo by IT who decide to take on the easy path to liquidity. Sharing your sentiment and thought doesn't bring much knowledge, post chart and do the marked up. Maybe it will help others to learn and you will be surprise you will learn something too. Best Wishes PAT
and yes it happens, we have prepared for that one, we discussed it the other day
https://breakpullback.com
  • #741,973
  • Apr 19, 2023 3:29pm Apr 19, 2023 3:29pm
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  • #741,974
  • Apr 19, 2023 3:34pm Apr 19, 2023 3:34pm
Quoting genadi
{image}
I can remember going into a restaurant with some losing equity positions.... towards the end of the meal I doubled down and was heavily in the red. In the back of my head I was thinking hmm I hope I will be able to pay for the meal by the time I finish.
  • #741,975
  • Apr 19, 2023 3:36pm Apr 19, 2023 3:36pm
Can someone help me understand why with all thats going on in the world the dollar is still considered a safe haven currency, when it is well known the government solves its issues by printing money, rendering any gains useless.

Why is it that when the us enters a recession, people throw their money into them, surely there is a better alternative, we also know that they cannot manage their books for shit.

We also now know other countries are slowly moving away from dollar trade.


Maybe I'm missing something and I fully admit my ignorance but I'm asking to actually learn.
  • #741,976
  • Apr 19, 2023 3:45pm Apr 19, 2023 3:45pm
Quoting Steamroller
{quote} I can remember going into a restaurant with some losing equity positions.... towards the end of the meal I doubled down and was heavily in the red. In the back of my head I was thinking hmm I hope I will be able to pay for the meal by the time I finish.
how did you managed that trade? closed with a loss of 70% of your account?
  • #741,977
  • Apr 19, 2023 3:56pm Apr 19, 2023 3:56pm
Quoting genadi
{quote} how did you managed that trade? closed with a loss of 70% of your account?
Price reversed thankfully. It would have been 5-10%
  • #741,978
  • Apr 19, 2023 5:07pm Apr 19, 2023 5:07pm
Quoting redbars
Can someone help me understand why with all thats going on in the world the dollar is still considered a safe haven currency, when it is well known the government solves its issues by printing money, rendering any gains useless. Why is it that when the us enters a recession, people throw their money into them, surely there is a better alternative, we also know that they cannot manage their books for shit. We also now know other countries are slowly moving away from dollar trade. Maybe I'm missing something and I fully admit my ignorance but I'm...
Article dated Sept 2022, but still has valid points - investors buying US government bonds and selling UK government bonds.

This is main reason dollar is strong.

https://www.bbc.com/news/business-63040797
  • #741,979
  • Apr 19, 2023 6:22pm Apr 19, 2023 6:22pm
Quoting redbars
Can someone help me understand why with all thats going on in the world the dollar is still considered a safe haven currency, when it is well known the government solves its issues by printing money, rendering any gains useless. Why is it that when the us enters a recession, people throw their money into them, surely there is a better alternative, we also know that they cannot manage their books for shit. We also now know other countries are slowly moving away from dollar trade. Maybe I'm missing something and I fully admit my ignorance but I'm...
You aren't the only one asking that question! The justification for holding the US $ as a reserve currency started to ensure currency stabilization.

https://www.investopedia.com/article...e-currency.asp

Today holding US dollars in a countries treasury doesn't make an economy more stable! Buying or spending foreign currency is a way for central banks to influence the rate of exchange for their currency. Simply put it is foreign currency manipulation by central banks where countries support or devalue their own currencies.

https://markets.businessinsider.com/...urrency-2023-1

Without the manipulation, exchange rates would reflect central bank interest rates and the actual demand for various currencies as a result of foreign trade and investment flow in and out of each country.
  • #741,980
  • Edited 8:32pm Apr 19, 2023 6:35pm | Edited 8:32pm
Quoting eyefeelsix
{quote} Hi Brother Fardeen1209.. if you are interested in counting the waves, the thing you should pay attention is to understanding: 1. Change of Character correctly 2. Invalidation level (EW rules) 3. Avoid waves noise by combining all TFs The easiest thing is counting the waves for maximum 200 bars that you think is clearly to see Regards efs
Thanks brother. Will surely pay attention to them.

Edit:
Big brother by 200 bars you mean a complete cycle of wave 1-5 & ABC must be completed within 200 bars?
More time in the market, does not mean you trade better!
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