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Cable Update (GBPUSD)

  • #752,181
  • Jun 15, 2023 12:00pm Jun 15, 2023 12:00pm
my 15 min chart
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Intraday only.
  • #752,182
  • Jun 15, 2023 12:01pm Jun 15, 2023 12:01pm
Quoting shakmoney
{quote} So where would your short target be for tomorrow or next week?
I think i informed you humpteen number of times, I trade based on risk/reward and not based on target price
Intraday only.
  • #752,183
  • Jun 15, 2023 12:02pm Jun 15, 2023 12:02pm
Quoting Alevsky017
but can anybody explain that big drop? I mean such a big move isnt normal, USD data was bullish today, so the only explanation for me is liquidity for a big drop... isnt it?
You should have seen the party in Eurozone.
Money are moving to priced in another ECB 25bps July hike.
More time in the market, does not mean you trade better!
  • #752,184
  • Jun 15, 2023 12:04pm Jun 15, 2023 12:04pm
Want to buy UJ, but i dont want to get into BOJ mess.
More likely to keep rate at -0.1%
A YCC upper limit lift, may trigger 250pips fall, with Infaltion data gradually increasing to 3.4% National Core CPI, Boj Core 3.0% , Tokyo COre 3.2%
More time in the market, does not mean you trade better!
  • #752,185
  • Jun 15, 2023 12:04pm Jun 15, 2023 12:04pm
Quoting thevisitor
{quote} Coreg, 1.2750 for 1.2810
TV, who knows? Yesterday I might jinx by saying the Dollar index can go to the move's origin. How high it takes GU? I don't know.
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Your #'s are correct. I got this move possible until 1.2830 with June, 19th as a timing.
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Always trade your own plan...I don't provide trading signals.
  • #752,186
  • Jun 15, 2023 12:04pm Jun 15, 2023 12:04pm
Quoting shakmoney
{quote} So where would your short target be for tomorrow or next week?
see the hourly chart how it plays out on hourly.

Even the bull hourly candle is indicated for long entry in the last 3 days
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Intraday only.
  • #752,187
  • Jun 15, 2023 12:09pm Jun 15, 2023 12:09pm
Quoting Fardeen1209
{quote} Thanks, Yours looks better in the if we look at the subwaves formation.
I would say " avoid copying some one else " s trade.

We only discuss the trade ideas.

copying entry price, target price... all need to be avoided.

Some people do copy here..the trades, it is not good for lonter time trading.
Intraday only.
  • #752,188
  • Jun 15, 2023 12:11pm Jun 15, 2023 12:11pm
What we can say with this weekly right NOW it is not a reversal weekly.
There's no major short this week with a VERY high probability
Today is Thursday, and this candle is already formed.
The last RED monthly broke up/failed, and there isn't even an hourly in the bear's favour,

The last 3 candles is an inverted hammer(off TL) + confirm + break confirm with an even bigger body so far.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #752,189
  • Jun 15, 2023 12:11pm Jun 15, 2023 12:11pm
Quoting shakmoney
{quote} So where would your short target be for tomorrow or next week?

It appears you are attempting to copy someone's trades. Be careful. The problem with copying someone smarter than you is that they know when things went wrong, and can get out whilst you because you put so much stock in them will stay. Trade demo. Once you win more trades than you loose in a week. Switch to live. IMO that is
Don't compare your trades to others. Most often the masses are the asses
  • #752,190
  • Jun 15, 2023 12:11pm Jun 15, 2023 12:11pm
Quoting Fardeen1209
E Wave Masters Can you please confirm if i counted the wave Correctly? {image} Wave 4 Maximum it can go with Invalidate everything
a novice but i have the same count too
  • #752,191
  • Jun 15, 2023 12:13pm Jun 15, 2023 12:13pm
Quoting navk
{quote} I would say " avoid copying some one else " s trade. We only discuss the trade ideas. copying entry price, target price... all need to be avoided. Some people do copy here..the trades, it is not good for lonter time trading.
Agreed, no copy trading, i copy only strategy, theory, setups.
Learn them, then applied them in real time to collect data about them, so one day i have a very refined strategy, i'm ready to trade Gold alongside with Currency
More time in the market, does not mean you trade better!
  • #752,192
  • Jun 15, 2023 12:14pm Jun 15, 2023 12:14pm
Quoting Coreg2004
{quote} TV, who knows? Yesterday I might jinx by saying the Dollar index can go to the move's origin. How high it takes GU? I don't know.{image} Your #'s are correct. I got this move possible until 1.2830 with June, 19th as a timing.{image}
Coreg, thank you
Sorry for the poor chart:
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  • #752,193
  • Jun 15, 2023 12:14pm Jun 15, 2023 12:14pm
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+240 pips, 60 pips away from target
  • #752,194
  • Jun 15, 2023 12:22pm Jun 15, 2023 12:22pm
H4 showing 12830 and a bottom of just below 12650

let’s see if 12830 is the top
Insane in the Brain..
  • #752,195
  • Jun 15, 2023 12:24pm Jun 15, 2023 12:24pm
Quoting Fardeen1209
{quote} Agreed, no copy trading, i copy only strategy, theory, setups. Learn them, then applied them in real time to collect data about them, so one day i have a very refined strategy, i'm ready to trade Gold alongside with Currency
Well said.
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Don't compare your trades to others. Most often the masses are the asses
  • #752,196
  • Jun 15, 2023 12:30pm Jun 15, 2023 12:30pm
Follow the trend, don't try to be a fortune teller and go against it, look for pullbacks to enter into timeframes of less than 4 or 1 h. There is no other way.
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  • #752,197
  • Jun 15, 2023 12:34pm Jun 15, 2023 12:34pm
Quoting OBsayMkMoney
{quote} Well said.{image}
Been using Demo account with that volatility on Gold. I dont want to lose money just trying to trade GOLD.
I'll go broke before i get a working strategy for that Volatility.
At the same time, using real money to make money on Currency, to built system, keep emotion in check.
More time in the market, does not mean you trade better!
  • #752,198
  • Jun 15, 2023 12:36pm Jun 15, 2023 12:36pm
Interesting day today in cable. It seems to me that the GBP simply followed the EUR up (as they tend to move in tandem vs. USD), and most likely triggered a lot of stop losses above 1.27, which accelerated the move up with momentum traders buying. Anyway, I'm starting to sell tomorrow (unless TIC tonight shows a significant reduction of capital inflows into the US) and will keep adding shorts if it keeps going up. I never see people quoting it, but one of the indicators that has worked wonders for me in the last few months was the spread in 6M bond yields, which clearly hit the top yesterday, and the exchange rate tends to lag by 2-3 days. Simply put, expectations for the BoE to deliver are too great, and I think we're in for a repeat of the previous meeting's disappointment. Also, I'll go as far as to say that whichever number we get for CPI, we'll get a selloff. Finally, the only thing that could make me abandon the sell is if the 6M spread in bond yields makes a new high or if the BoE hikes for 0.5%.
  • #752,199
  • Jun 15, 2023 12:38pm Jun 15, 2023 12:38pm
Quoting thevisitor
{quote} Coreg, thank you Sorry for the poor chart:{image}
TV, the same school. I too concentrate on the last move. Very nice.
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Always trade your own plan...I don't provide trading signals.
  • #752,200
  • Jun 15, 2023 12:52pm Jun 15, 2023 12:52pm
Quoting OBsayMkMoney
{quote} So what you are saying is that you can see one trend on the lower time frames, and another on the higher, and the patterns are all the same? I feel like that's what I said. How about this... If I start in New York and drive towards California, yet in Utah I take a detour to New Mexico. Have my travel plans changed? Or am I stopping at my cousin Ray Ray's for some much needed rest? Most of us start trading on the lower time frames. Scalping. As time goes on some move to higher TF's as our account can stand some drawdown. After all a scalping...
Yes, the patterns are the same no matter the TF. For example, let's define a trend by 3 consecutive swings in which the 2nd swing is opposite in direction to the other 2 swings, and the 2nd swing does not travel beyond the start of the 1st swing. I am confident that everyone will be able to find a trend on any TF that he chooses that has enough data to create 3 such swings.

This why you can view a given TF and see that it is in an up trend yet view a much smaller TF and see that it is in a down trend.
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