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Cable Update (GBPUSD)

  • #769,141
  • Aug 22, 2023 2:43am Aug 22, 2023 2:43am
Quoting Lbrto
{quote} how's the indicator doing for that chart?
My MACD shows the correction task looks like has finished.
SMA still distance to get upside the bull line track. should at least to 1.295 , then can expect bull takes over to 1.30 above.
Anyway, MM tricks never ends going on, so be careful, I would be conservative.
  • #769,142
  • Aug 22, 2023 2:49am Aug 22, 2023 2:49am
Dxy took the short term low..
now we need to wait for strong impulse.

after that the $ sell off will start
Attached Image (click to enlarge)
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  • #769,143
  • Aug 22, 2023 2:50am Aug 22, 2023 2:50am
Quoting Cgpips
{quote} My MACD shows the correction task looks like has finished. SMA still distance to get upside the bull line track. should at least to 1.295 , then can expect bull takes over to 1.30 above. Anyway, MM tricks never ends going on, so be careful, I would be conservative.
Gold and DXY are definitely supporting GU right now!
  • #769,144
  • Aug 22, 2023 2:50am Aug 22, 2023 2:50am
Here is a quick search I did for multi pair price pivot indicator mt4. Of course it's your job to work out which one is for you but the premise is simple .... pivots represent "what you cannot see" on the chart , that correspond to something else from outside the view of that chart's asset class and performance.

https://www.forexfactory.com/search?searchid=45019204

So you know they exist.


Peter
Real Trading is not gambling.
  • #769,145
  • Aug 22, 2023 2:51am Aug 22, 2023 2:51am
Quoting Cgpips
{quote} My MACD shows the correction task looks like has finished. SMA still distance to get upside the bull line track. should at least to 1.295 , then can expect bull takes over to 1.30 above. Anyway, MM tricks never ends going on, so be careful, I would be conservative.
Thanks!
"No trade is still a trade." - Peter Borish
  • #769,146
  • Aug 22, 2023 2:51am Aug 22, 2023 2:51am
In short...1.28....tp- 1.2730

Sl-1.2848
  • #769,147
  • Aug 22, 2023 2:52am Aug 22, 2023 2:52am
Quoting Erpthetrader
{quote} Very thought provoking…. I like it ! And I do agree with you Peter whoever that person was looks at the market in a very strange way
not strange .... misleading. VERY misleading. This whole thing of using pivots with the same instrument has always made me cry and chuckle. People need to realize retail trading does not have to translate to stupid and unaware.

Peter
Real Trading is not gambling.
  • #769,148
  • Aug 22, 2023 2:54am Aug 22, 2023 2:54am
Quoting ninner
{quote} its going to take another swing on lighter volume....that is where the market swawks,walks, and talks baby!!! Sure it can go higher but the higher it goes the harder it will fall baby!!!
Great. And I agree with you. Nice observation. No date can usually mean a nice ranging efficient market
Emotional Control. Process, not outcome.
  • #769,149
  • Aug 22, 2023 2:54am Aug 22, 2023 2:54am
Quoting dantpm
{quote} Gold and DXY are definitely supporting GU right now!
yeah ok sure and pigs might fly too.

DXY is a derivative of the proxy prices of "......" ..... do you know? Coz if ya do, you know it's not real and therefore unreliable in the long run.
Real Trading is not gambling.
  • #769,150
  • Edited 3:09am Aug 22, 2023 2:59am | Edited 3:09am
Looks to me to be heading back towards 1.3 off support.
The crowd is now starting to short this pair also, although the day is long from over https://www.forexfactory.com/trades

If we break the 3142 high, I will be looking to buy retraces after bullish confirmation, heading back towards 1.42+
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSDWeekly.png Size: 8 KB
Compulsions can be hard to resist
  • #769,151
  • Aug 22, 2023 3:02am Aug 22, 2023 3:02am
some good lil sells in there but look for some quick buuys too
Real Trading is not gambling.
  • #769,152
  • Aug 22, 2023 3:04am Aug 22, 2023 3:04am
Quoting dantpm
{quote} Gold and DXY are definitely supporting GU right now!
I thought that the statement was pretty unambiguous.
I did not suggest that DXY was driving GU as appears to have been interpreted.
  • #769,153
  • Aug 22, 2023 3:04am Aug 22, 2023 3:04am
Sold 1.2797 SL 1.2817
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #769,154
  • Aug 22, 2023 3:08am Aug 22, 2023 3:08am
Quoting dantpm
{quote} I thought that the statement was pretty unambiguous. I did not suggest that DXY was driving GU as appears to have been interpreted.
not for someone like me you actually trades. "Supporting" and "involved" are VERY different things. Just as in "support and resistance". poppycock.

But hey, you go use a false "real" indication hehehehe it's your $$$ missy.

You can't fool me I'm the gingerbread man


Peter
Real Trading is not gambling.
  • #769,155
  • Aug 22, 2023 3:15am Aug 22, 2023 3:15am
USD coming down off resistance also
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDOLLARMonthly.png Size: 8 KB
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Compulsions can be hard to resist
  • #769,156
  • Aug 22, 2023 3:19am Aug 22, 2023 3:19am
yeah there's shorts there but don't ignore the long side. There's always upward pressure.
Real Trading is not gambling.
  • #769,157
  • Aug 22, 2023 3:24am Aug 22, 2023 3:24am
markets freezing ..has no volume..waiting for what?
  • #769,158
  • Aug 22, 2023 3:27am Aug 22, 2023 3:27am
Quoting voeltoez
markets freezing ..has no volume..waiting for what?
For Peter Caleb to gtfo from this thread
How to succeed in zero sum game?
  • #769,159
  • Aug 22, 2023 3:32am Aug 22, 2023 3:32am
Had to close Chfjpy with losses. My mistake, i let these bastards push me to the limit. On the other hand, it gives me the oportunity to refine my trading. Went long gbpcad @ 1.7280.
POSTMASTER
  • #769,160
  • Aug 22, 2023 3:37am Aug 22, 2023 3:37am
Quoting Robinhood1
{quote} Been doble checking. Still believe so. If we reach 1.2940 before breaking 1.2616, the target becomes 1.1770 aprox. And relatively fast.
Cable
Watch around 1.2940.
Current target 1.1650
POSTMASTER
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