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Cable Update (GBPUSD)

  • #763,601
  • Edited 3:16am Aug 3, 2023 3:06am | Edited 3:16am
Quoting Waveskierrob
{quote} FTSE trades now at +670 thanks Mr T...
Brilliant pal, was along time coming but worth the wait and not too Shabby at all CHART SPEAKS
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  • #763,602
  • Aug 3, 2023 3:14am Aug 3, 2023 3:14am
...another (2nd) 5min fractal swing lo @ the prev 1hr/4hr sw lo zone down to y/day's lo, - this coexistent with a prev 1hr/4hr/dly sw lo zone to 2673. Upside follow thru off the 1hr inverted pinbar close.

1hr below
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Trader with an Edge.
  • #763,603
  • Aug 3, 2023 3:15am Aug 3, 2023 3:15am
Quoting Moty
{image}
I'm giving GU a break
  • #763,604
  • Aug 3, 2023 3:18am Aug 3, 2023 3:18am
plan for NY

safe area to sell $
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  • #763,605
  • Aug 3, 2023 3:19am Aug 3, 2023 3:19am
Quoting T721
{quote} Brilliant pal, was along time coming but worth the wait and not too Shabby at all CHART SPEAKS {image} {image}
  • #763,606
  • Aug 3, 2023 3:29am Aug 3, 2023 3:29am
Closed the second short of the GBPUSD.
As expected, I got a TP when I broke MA3 on the thick brown line.
M15MA3's bband is inside the white BB and its weakness has loosened.
If the price line rises above MA3, it may be shorted, but we will wait and see. As you can see, the trend is sideways.
I think that it will be in time even after the BB is greatly inflated.
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  • #763,607
  • Aug 3, 2023 3:29am Aug 3, 2023 3:29am
MM decided to Comit suicide. Stupidity can be found everywhere in Life. I love this game.
POSTMASTER
  • #763,608
  • Aug 3, 2023 3:39am Aug 3, 2023 3:39am
Hopefully three days in a row, entry just below start line after news, Stop 12717 Tgt 12620
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  • #763,609
  • Aug 3, 2023 3:49am Aug 3, 2023 3:49am
Quoting Robinhood1
MM decided to Comit suicide. Stupidity can be found everywhere in Life. I love this game.
  • #763,610
  • Aug 3, 2023 3:50am Aug 3, 2023 3:50am
I'm absolutely in love with FF.

The people exude an unwavering confidence, standing firmly behind their beliefs with an unwavering 101%.
The market hides a perfect geometry.
  • #763,611
  • Aug 3, 2023 3:51am Aug 3, 2023 3:51am
...next fibs to downside in the 2600's are 2672, 2662, (2658 Dly S1,) 2641, 2649, (2606 Dly S2.) 4hr chart below shows the pot supp factors (other than Daily pivots) down to that 2591 prev wkly swing lo. Another fib just below that @ 2582.

Currently testing that prev 1hr/4hr/dly sw lo zone that extends down to 2673, y/day's lo being the 1st test.

4hr below
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Trader with an Edge.
  • #763,612
  • Aug 3, 2023 3:53am Aug 3, 2023 3:53am
Quoting Scotteyy
Short 12732, SL 12752, TP Open.
SL revised to BE. TP set to daily S2, 12612. Have to be conscious of the fact that weekly S2 (12637) is approaching and is typically a very strong support level. Could definitely see a bounce from there and retrace for the rest of the week.

For anyone interested in other pairs, AUD/CAD has just tapped into a major liquidity level on the daily. We've had a falling wedge for the past couple of months now and divergence is showing. May be looking at some long-term buys on this pair as long as I see a bullish daily candle.
  • #763,613
  • Aug 3, 2023 4:00am Aug 3, 2023 4:00am
If I'm right that big banks are pushing price from point A to B, then 1.26 is a given today and perhaps 1.2575. From there we could bounce and go to 1.33 if this is point C.

There is also not even 15M that is suggesting to Buy.
  • #763,614
  • Aug 3, 2023 4:03am Aug 3, 2023 4:03am
My favourite pair EJ today
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Trade Safe
Cheers
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my loss is your gain
  • #763,615
  • Aug 3, 2023 4:06am Aug 3, 2023 4:06am
Quoting TheWraith
If I'm right that big banks are pushing price from point A to B, then 1.26 is a given today and perhaps 1.2575. From there we could bounce and go to 1.33 if this is point C. There is also not even 15M that is suggesting to Buy.
Is there a chart that you are referring to?
  • #763,616
  • Aug 3, 2023 4:09am Aug 3, 2023 4:09am
I think if this 15M candle closes around this level I may consider entering a long targeting R1 (~12780). Whilst keeping my short open.
Reasons for trade, near weekly S2, near daily S1, possibly liquidity grab from yesterdays low and bullish reaction from it.

Also yen pairs looking like we may be looking at turning downwards longer term. EJ cant break the highs, looks like a liq grab on daily UJ.
  • #763,617
  • Aug 3, 2023 4:09am Aug 3, 2023 4:09am
Quoting dantpm
{quote} Is there a chart that you are referring to?
Yeah. S is both at 1.2575 on Daily and Weekly chart. Seems too significant not to be hit it seems. I share Daily and Weekly chart yesterday.
  • #763,618
  • Aug 3, 2023 4:09am Aug 3, 2023 4:09am
Another breach failed DXY below 102.80. GBPUSD holding 1.2780 line.

if DXY falls below 102.50, it will confim the reversal.

however, only a positive news can save it now from bears .
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  • #763,619
  • Aug 3, 2023 4:11am Aug 3, 2023 4:11am
...may have triggered some tight stops under y/day's lo that were holding longs for Boe MPC today?
Trader with an Edge.
  • #763,620
  • Aug 3, 2023 4:18am Aug 3, 2023 4:18am
This time last week Thursday recorded weekly high of 1.2995 being 200 pips week range then. Price crashed from that high of 1.2995 to a low of 1.2760 the next day... This week so far has seen a crash of 200 pips so far and this month hasn't bought more than 5 pips from the open of 1.2836. can there be a total trend reversal today like it happened last week? if it does, then 1.2900 may occur...

Wonder what BOE is cooking, I feel they are cooking something out of the extra ordinary for today and tomorrow.
Data + Stat + Risk/Emotions Management
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