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Cable Update (GBPUSD)

  • #744,861
  • May 10, 2023 3:42am May 10, 2023 3:42am
Quoting Moty
{image}
ur hammer handle is too slim..makes unbalance trade..lol
  • #744,862
  • May 10, 2023 3:47am May 10, 2023 3:47am
Settlement in GBP/JPY. M1, 2 positions, but +34 pips, 35 minutes.
Thanks to moty.
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  • #744,863
  • May 10, 2023 3:49am May 10, 2023 3:49am
Quoting Moty
{image}
Price is above weekly pivot and it has been rejected twice (upwards) at the daily pivot.
As long as price doesn't close below daily pivot I don't see a sell scenario (and even then there is a lot of resistance to be worked through).
But that is only my opinion.
  • #744,864
  • May 10, 2023 3:50am May 10, 2023 3:50am
Does the debt ceiling will cause USD to dump instead of rising?
Given the govt can not borrow new loan to return old loans, rising cpi rate = more interest rate hike = cost of borrowing rising
More time in the market, does not mean you trade better!
  • #744,865
  • May 10, 2023 4:02am May 10, 2023 4:02am
Long entry and exit points. Both are fast in actual trading. This is a point to reflect on.
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  • #744,866
  • May 10, 2023 4:03am May 10, 2023 4:03am
Quoting Fardeen1209
Does the debt ceiling will cause USD to dump instead of rising? Given the govt can not borrow new loan to return old loans, rising cpi rate = more interest rate hike = cost of borrowing rising
i did read somewhere that the debt ceiling has been increased 78 times since its inception...they might just increase it again who knows
  • #744,867
  • May 10, 2023 4:09am May 10, 2023 4:09am
Quoting josi
{quote} Price is above weekly pivot and it has been rejected twice (upwards) at the daily pivot. As long as price doesn't close below daily pivot I don't see a sell scenario (and even then there is a lot of resistance to be worked through). But that is only my opinion.
I gave my opinion here, and I have 3 closed sells now.
To free Gazans of Hamas, use whatever it takes.
  • #744,868
  • May 10, 2023 4:15am May 10, 2023 4:15am
calculation error last 4hr seems inconclusive, sellers still need to re-establish the resistance price at 126200 by clean break out and crossing of 125800. Yesterday high shifted maybe the low also needs a new number.
Keep the Lights on then you can catch the rise from the dark.
  • #744,869
  • May 10, 2023 4:17am May 10, 2023 4:17am
GBP/USD (4H): the price formed a lower high near the 0.618 Fibonacci level. After breaking through the local support, we may see a downtrend towards the 1.25 support area.
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  • #744,870
  • May 10, 2023 4:19am May 10, 2023 4:19am
last chance cable to down..i hope wont break high again
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  • #744,871
  • May 10, 2023 4:31am May 10, 2023 4:31am
Looks like 1.2645 keep pressure for Bears. Targeting 1.2595
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #744,872
  • May 10, 2023 4:34am May 10, 2023 4:34am
Quoting DrDave
{quote} I gave my opinion here, and I have 3 closed sells now.
quite so
A ranging area of indecision (as yet) - if you scalp using the right entry trigger you can go both ways, no doubt.
If I remember correctly you were mostly aiming for few pips (per move) which explains your 3 sells, maybe.
  • #744,873
  • May 10, 2023 4:47am May 10, 2023 4:47am
Maybe this will help . . .

At the white vertical, you can see on H4 there is a green up, yellow up, and blue flat(up) (and a dark green up that is not important here). NONE of those being down certainly makes for a big for selling. However, change comes from below and progresses upward through the TFs. So for H4 to turn down, EVERTY TF smaller must get turned down. No GUESSING that H4 and H8 are up--just OBSERVING.

So now check H1 at the same white vertical: red down, magenta down, blue up (approaching flat). Looks like the DOWN is indeed progressing upward, and has reached H2! No GUESSING that H1 and H2 are down--just OBSERVING.

So no need to guess or check pivots, Fibs, FVGs, round numbers, the weather, etc. Just LOOK AT 4 lines, color coded for direction, and see where the trade is.

The red vertical is the time that I placed my first sell today. Clearly, H1 and H2 are going down then. So on TFs SMALLER that H1, I simply found a rally to sell.

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To free Gazans of Hamas, use whatever it takes.
  • #744,874
  • May 10, 2023 4:52am May 10, 2023 4:52am
Quoting josi
{quote} quite so A ranging area of indecision (as yet) - if you scalp using the right entry trigger you can go both ways, no doubt. If I remember correctly you were mostly aiming for few pips (per move) which explains your 3 sells, maybe.
The number of pips I target is releated to the volatility on the entry TF. So, when the entry TF is rather small, such as M5, volatility is typically rather small, so not many pips are expected before a swing ends.
To free Gazans of Hamas, use whatever it takes.
  • #744,875
  • May 10, 2023 4:58am May 10, 2023 4:58am
Quoting DrDave
So no need guess or check pivots, Fibs, FVGs, round numbers, the weather, etc.
Yes, one person may be checking xMAs and their slopes (on xTFs)...
another may check pivot lines...
another may check fibs...
Results over time are all that matters.
  • #744,876
  • May 10, 2023 5:07am May 10, 2023 5:07am
Quoting DrDave
Maybe this will help . . . At the white vertical, you can see on H4 there is a green up, yellow up, and blue flat(up) (and a dark green up that is not important here). NONE of those being down certainly makes for a big for selling. However, change comes from below and progresses upward through the TFs. So for H4 to turn down, EVERTY TF smaller must get turned down. No GUESSING that H4 and H8 are up--just OBSERVING. So now check H1 at the same white vertical: red down, magenta down, blue up (approaching flat). Looks like the DOWN is indeed...
What indicator is that, if you don't mind?
  • #744,877
  • Edited 5:32am May 10, 2023 5:12am | Edited 5:32am
GU interest rate today(correction tomorrow), lets see if we can get this right

H1 3 swings down is the internal structure of the correction on 4H

H1 tried to break up into a trend taking out the last lower high from the prior downswing but failed to close above

H4 assumed correction came back to the old R now S ,,H4 shows the internal structure of the D1 uptrend

D1 is in an uptrend

i would take a shot at longs especially since the current H4 correction came back to the old H4 high which acted as support and failed to close through, we might see another attempt to break 2460 (correction 2640).

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Follow The Markets Structure - Patience and Discipline
  • #744,878
  • May 10, 2023 5:18am May 10, 2023 5:18am
Quoting pipfarm
GU interest rate today , lets see if we can get this right H1 3 swings down is the internal structure of the correction on 4H H1 tried to break up into a trend taking out the last lower high from the prior downswing but failed to close above H4 assumed correction came back to the old R now S D1 is in an uptrend i would take a shot at longs especially since the current H4 correction came back to the old H4 high which acted as support and failed to close through, we might see another attempt to break 2460. {image} {image} {image}
I also believe long is what it is for now. The interest rate for Pound is tomorrow. Also your last sentence I think you meant 2640?
  • #744,879
  • May 10, 2023 5:22am May 10, 2023 5:22am
Quoting Mitiblotch
{quote} I also believe long is what it is for now. The interest rate for Pound is tomorrow. Also your last sentence I think you meant 2640?

Yes it is tomorrow i am a day ahead , this what happens when you live on paradise island , too much sun and yes 2640 i will correct the errors
Follow The Markets Structure - Patience and Discipline
  • #744,880
  • May 10, 2023 5:36am May 10, 2023 5:36am
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the dollar is in a big value cluster, it still in downtrend though. we should get a slight rise then dump as investors find liquidity to dump thedollar for safer assets like
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gold
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