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Cable Update (GBPUSD)

  • #763,641
  • Aug 3, 2023 5:32am Aug 3, 2023 5:32am
... the dly bullish hidden div remains valid until a downside break of 2591 on my osc's. It would come @ a 1st LL on this dly t/f but this coincides with a pot HL on wkly into whose uptrend it might be a signal if on those t/f's. Might/probably depends on Boe/Mpc now?

dly below.
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Trader with an Edge.
  • #763,642
  • Aug 3, 2023 5:32am Aug 3, 2023 5:32am
Quoting DubaiFX
Hello Guys, well today is BOE Decision but it could be tricky 0.25 bps is expected now insted of 0.5 still NFP could make it tricky last time i mentioned 1.25 is POssible well it was close but this week Avoid the market it could suck in both Buyers and Sellers, and honestly i dont see Pound going much lower then 1.25 it could test that but BOE may not make much difference, it will be NFP which will make the Medium Term Trend.
I expect Pound to retrace it's loss today and tommorow to drop to S on NFP. Then, CPI is the key news for this pair.
  • #763,643
  • Aug 3, 2023 5:46am Aug 3, 2023 5:46am
already long...risking yesterday profits..
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  • #763,644
  • Aug 3, 2023 5:51am Aug 3, 2023 5:51am
This was a trade i took on FTSE. YES i am posting this after the fact but its just to show how i trade and the power of candles. Look at the zoomed in chart with black arrow above it. These i take all day long. Green line is yesterdays lows int to liquidity then i look for divergence. Was a decent trade and still got some running
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  • #763,645
  • Aug 3, 2023 5:52am Aug 3, 2023 5:52am
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yes yes yes
  • #763,646
  • Aug 3, 2023 5:53am Aug 3, 2023 5:53am
...just ahead of the Boe/Mpc stuff, 82% 30day adr traveled so far today, 97% 13wk awr so far this week.
Trader with an Edge.
  • #763,647
  • Aug 3, 2023 5:54am Aug 3, 2023 5:54am
Quoting voeltoez
already long...risking yesterday profits.. {image}
GL!
  • #763,648
  • Aug 3, 2023 5:54am Aug 3, 2023 5:54am
Quoting voeltoez
already long...risking yesterday profits.. {image}
That is begging for trouble IMO. Spread could easily whip both your SL and your buy stop before you realise you've had your pants pulled down.
  • #763,649
  • Aug 3, 2023 5:55am Aug 3, 2023 5:55am
Quoting TheForexDen
{quote} That is begging for trouble IMO. Spread could easily whip both your SL and your buy stop before you realise you've had your pants pulled down.
Pants pulled lol.
  • #763,650
  • Aug 3, 2023 5:58am Aug 3, 2023 5:58am
Anyone holding pee?
More time in the market, does not mean you trade better!
  • #763,651
  • Aug 3, 2023 6:04am Aug 3, 2023 6:04am
As expected 0.25 now the conference and see if we get anything hawkish
Insane in the Brain..
  • #763,652
  • Aug 3, 2023 6:09am Aug 3, 2023 6:09am
WAIT WAIT WAIT. Votes are different then forecast!
  • #763,653
  • Aug 3, 2023 6:10am Aug 3, 2023 6:10am
Quoting voeltoez
already long...risking yesterday profits.. {image}
closed SL hit
  • #763,654
  • Aug 3, 2023 6:11am Aug 3, 2023 6:11am
Quoting BeeTogether
As expected 0.25 now the conference and see if we get anything hawkish
any idea why this has pushed the price down? Surely with the higher interest rates this should have pushed the price up
  • #763,655
  • Aug 3, 2023 6:11am Aug 3, 2023 6:11am
not even a small kick upward.
"No trade is still a trade." - Peter Borish
  • #763,656
  • Aug 3, 2023 6:11am Aug 3, 2023 6:11am
Quoting JoshLauder98
{quote} any idea why this has pushed the price down? Surely with the higher interest rates this should have pushed the price up
Because 0.25 was expected, it was already priced in.
  • #763,657
  • Edited 6:31am Aug 3, 2023 6:12am | Edited 6:31am
Quoting pipfarm
These are the current set ups i am looking at CHFJPY D1-H1 for entry long GBPJPY D1-H1 for entry long GBPCAD D1-H1 for short - see chart in previous post EURJPY D1-H1 for long
Back to these set ups again

EURJPY

Looks like D1 is moving into a W1 correction, so will leave this for now. Update - infact if that push on D1 is the beginning of the W1 C swing the H4 has just started to trend down on the break of 156.19.

CHFJPY

D1 is a dip in the W1 upswing the correction from the dip can be seen fully on H4 , Looks like the first wave is already up so would need a break of the 164.07 top for entry and continuation , means a big stop.

GBPCAD

D1 corrective swing as posted yesterday with the full structure of the correction abcde on H4 and now the break down, was very difficult to find an entry point , however it is now trending down nicely.

GBPJPY - change of view as i now see that D1 swing down is now corrective and moving with the weekly down, so the D1 swing up is probably the beginning of big move down into C corrective- entry missed from H4 break down into a trend @ 181.69
Follow The Markets Structure - Patience and Discipline
  • #763,658
  • Aug 3, 2023 6:16am Aug 3, 2023 6:16am
So think we will be seeing buying in GU for the rest of the week now. Weekly S2 big boy strong support. I faded the sell like an idiot, but its working like gold so far.
  • #763,659
  • Aug 3, 2023 6:19am Aug 3, 2023 6:19am
Quoting TheWraith
{quote} Pants pulled lol.
Lol had my pulled down for a peek but I held on I've got long in
average dude treading water
  • #763,660
  • Aug 3, 2023 6:20am Aug 3, 2023 6:20am
Quoting T721
This was a trade i took on FTSE. YES i am posting this after the fact but its just to show how i trade and the power of candles. Look at the zoomed in chart with black arrow above it. These i take all day long. Green line is yesterdays lows int to liquidity then i look for divergence. Was a decent trade and still got some running {image} {image}
And there we go. Easy easy trade
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