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Cable Update (GBPUSD)

  • #753,281
  • Jun 21, 2023 4:03am Jun 21, 2023 4:03am
Quoting Theoak
Short in at 1.2720
Hi, I can see your logic after the last 1hr and 4hr closes but price is still flirting with potential support - ie the prev 1hr/4hr sw lo zone down to y/day's lo with 3 fib cluster/wkly pivot/dly S1...G/L with it. 4hr candle is the gmt+3 4hr feed.

4hr below
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Trader with an Edge.
  • #753,282
  • Jun 21, 2023 4:14am Jun 21, 2023 4:14am
Quoting Moty
Y's low is about to break The drop is coming {image}
and here we go....
Its all just one persons opinion
  • #753,283
  • Jun 21, 2023 4:16am Jun 21, 2023 4:16am
im not placing any GU trade untill powell is done talking today. seems way too risky to hold through it
  • #753,284
  • Jun 21, 2023 4:17am Jun 21, 2023 4:17am
Breaking news: The Algo just delivers price for short on GOLD... Some one disliking my post..well, Its takes a knowleageable trader to relate to my post..

I'm going to run a news platform some day
My telegram: https://t.me/avidforex
  • #753,285
  • Jun 21, 2023 4:18am Jun 21, 2023 4:18am
So, they have collected some Buy Orders sitting on 1.28 again and now finally the price will reach 1.265 or somewhere around it. Then, 1.30 is waiting, probably on rate hike and hawkish Bailey due to too high CPI and Core CPI data.
  • #753,286
  • Jun 21, 2023 4:18am Jun 21, 2023 4:18am
Quoting Kelvin1
GU Has blown my account ....and have lost job ...
GU Has blown my account
Translation: I entered a position on GBPUSD but failed to implement wise money management principles. I also failed to make capital preservation the highest priority. So now to make myself feel just a little bit better about it all, I am attempting to shift blame from where it squarely resides--with me--to the GBPUSD pair.
To free Gazans of Hamas, use whatever it takes.
  • #753,287
  • Jun 21, 2023 4:24am Jun 21, 2023 4:24am
Quoting Moty
Y's low is about to break The drop is coming {image}
New closing trades strategy
Because of the often revarsal just near my tp
I am now, beginning to close the manually when price reaches 10 pips from my tp and let price crowl to my tp, and if it reaches some of the orders , let it be , if not , i am happy anyway

My tp. Was 1.27020
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yes yes yes
  • #753,288
  • Jun 21, 2023 4:28am Jun 21, 2023 4:28am
Quoting Scotteyy
{quote} Thanks for the response, I must say, seeing you develop it has been interesting. So you have a way to identify trend and support/resistance, I'm not sure what else you need, does optimisation start now? Also what does Bella's date forecasting predict? Reversals? If you don't mind me asking, how does that work? I work on the belief that one can't predict where price is going to go, the only thing we can be sure of is that price is more likely to follow a trend.
Hey Scotteyy, read up on Gann squaring of price and time. Don't get off track with the folks that seem to think this means to do mathematical squaring. Gann said that time is more important than price and when time is up, direction change will occur. So when you have your chart set up with proper scales, you can see how price is running in relation to time within the square and already see in advance the time when price is expected to turn and the value according to the rate at which price is traveling.
To free Gazans of Hamas, use whatever it takes.
  • #753,289
  • Jun 21, 2023 4:30am Jun 21, 2023 4:30am
GU

H1 and H4 still in a downside correction

However H4 is a correction against D1/W1 upswing, H4 is sitting on top of the old resistance that now becomes support so there is a very high chance given the correct entry signal that GU will go up.
Follow The Markets Structure - Patience and Discipline
  • #753,290
  • Jun 21, 2023 4:32am Jun 21, 2023 4:32am
Quoting TheWraith
So, they have collected some Buy Orders sitting on 1.28 again and now finally the price will reach 1.265 or somewhere around it. Then, 1.30 is waiting, probably on rate hike and hawkish Bailey due to too high CPI and Core CPI data.
For the first time today I saw trade setup from my broker. They said to buy 2700 with SL at 2655. TP 2825 and 3095. Quite a bold prediction. When big FX companies give signals I believe usually they may be largely correct about direction, but SL usually hits first. In this case 2655 is their SL which I expect to hit.

I am long since yesterday from 2789. I have added all the way down. All SL kept at 2590. TP set at 2950. No stress. SL or TP. One must come.
  • #753,291
  • Jun 21, 2023 4:33am Jun 21, 2023 4:33am
Quoting Kelvin1
GU Has blown my account ....and have lost job ...
Sorry to hear that.

Just one advice: there are other currency pairs you can trade and not just GBP/USD. Price has been ranging for a while on GBP/USD and this made a lot of people lose their money. Pair is never going in one direction and knowing when price is in an uptrend, a downtrend or is ranging is your job to figure out and trade accordingly. Focus on other pairs also if you see that price on GBP/USD has been ranging for a while and doesn't give you that nice trend that we traders like to see.

Also, money management yeah..
  • #753,292
  • Jun 21, 2023 4:35am Jun 21, 2023 4:35am
Quoting Moty
{quote} New closing trades strategy Because of the often revarsal just near my tp I am now, beginning to close the manually when price reaches 10 pips from my tp and let price crowl to my tp, and if it reaches some of the orders , let it be , if not , i am happy anyway My tp. Was 1.27020 {image}
You see this?
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yes yes yes
  • #753,293
  • Jun 21, 2023 4:35am Jun 21, 2023 4:35am
GU giving opportunities to sellers right now, get on da train!!!!
  • #753,294
  • Jun 21, 2023 4:35am Jun 21, 2023 4:35am
Quoting Mitiblotch
{quote} For the first time today I saw trade setup from my broker. They said to buy 2700 with SL at 2655. TP 2825 and 3095. Quite a bold prediction. When big FX companies give signals I believe usually they may be largely correct about direction, but SL usually hits first. In this case 2655 is their SL which I expect to hit. I am long since yesterday from 2789. I jave added all the way down. All SL kept at 2590. TP set at 2950. No stress. SL or TP. One must come.
Interesting! Hopefully, price will stop before going below 1.26. The biggest amount of orders are waiting (probably) at 1.265. We'll see the reaction once the price gets there. Good luck!

Edit: they might not want to trigger orders at 1.265 if majority are Long orders. We'll see.. but I think these orders that were triggered at 1.28 are pretty much closed or will be closed soon. While 1.27 is interesting as a price, I don't see anything here on the chart.
  • #753,295
  • Jun 21, 2023 4:37am Jun 21, 2023 4:37am
Quoting DrDave
{quote} Hey Scotteyy, read up on Gann squaring of price and time. Don't get off track with the folks that seem to think this means to do mathematical squaring. Gann said that time is more important than price and when time is up, direction change will occur. So when you have your chart set up with proper scales, you can see how price is running in relation to time within the square and already see in advance the time when price is expected to turn and the value according to the rate at which price is traveling.
Interesting, I'll do some reading. I wonder if this timing coincides with the different trading sessions.
  • #753,296
  • Jun 21, 2023 4:40am Jun 21, 2023 4:40am
i am into deep . a sea of red , lol i shouldve stick to the news trading . where should i plan my next buy?
i got 1.2680 and 12650 on my cards.
  • #753,297
  • Jun 21, 2023 4:40am Jun 21, 2023 4:40am
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  • #753,298
  • Jun 21, 2023 4:41am Jun 21, 2023 4:41am
Quoting Headland
{quote} Hi, I can see your logic after the last 1hr and 4hr closes but price is still flirting with potential support - ie the prev 1hr/4hr sw lo zone down to y/day's lo with 3 fib cluster/wkly pivot/dly S1...G/L with it. 4hr candle is the gmt+3 4hr feed. 4hr below {image}
My firsts target was 1.2700. Did not quite get there I think there will be a push down now and take this out. I will then try and run half load.
Don't trade what you think. Just what you see!!!
  • #753,299
  • Jun 21, 2023 4:54am Jun 21, 2023 4:54am
Quoting Theoak
{quote} My firsts target was 1.2700. Did not quite get there I think there will be a push down now and take this out. I will then try and run half load.
Taken profit now, run the rest. Stops to B/E. Hope we get a runner. Its the runners where you make the Buggs Bunny!!!
Don't trade what you think. Just what you see!!!
  • #753,300
  • Jun 21, 2023 4:58am Jun 21, 2023 4:58am
Quoting voeltoez
{quote} partial profit taken @1.2730,, wait up little bit...then short again to 1.2700
all trades closed...now swing to high..sl 1.2650 tp trailing 1.2730
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