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Cable Update (GBPUSD)

  • #770,541
  • Aug 25, 2023 9:15am Aug 25, 2023 9:15am
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  • #770,542
  • Aug 25, 2023 9:18am Aug 25, 2023 9:18am
Im out of my long.. +60
  • #770,543
  • Aug 25, 2023 9:20am Aug 25, 2023 9:20am
Quoting DrDave
{quote} That's the interesting thing about financial time series: All kinds of "systems" have been concocted to try to produce a specific target (predict/guess where price is going). And as can be observed, they do a poor job of it; sometimes overshoot, sometime undershoot, so a big "fudge factor", called a "range of values", gets introduced so that the hit rate for the predicted value is improved. A chaos model has a very good explanation for this, as well as the often seen unexpected price spikes and other "strange" price behavior. Price is a...
thanks, i will read it after market.
  • #770,544
  • Aug 25, 2023 9:20am Aug 25, 2023 9:20am
Quoting Zebi
powell hawkish so i dont know why the buying except to pump and dump

if i wasnt already nursing shorts and trying to protect margin id be shorting here


edit: meant that for the gold thread LOL
short trump and go long the deepstate
  • #770,545
  • Aug 25, 2023 9:22am Aug 25, 2023 9:22am
Quoting Nordling
powell hawkish by now, wait for the press questions to confirm the direction
Short confirmed by PA, gold is still nice to short. I am shorting it
You have to have an IQ higher than 90 to interact with this user.
  • #770,546
  • Aug 25, 2023 9:24am Aug 25, 2023 9:24am
Hawkish but not committing to rate rises for next month.
Insane in the Brain..
  • #770,547
  • Aug 25, 2023 9:24am Aug 25, 2023 9:24am
Quoting donfriday
{quote} zoom deeper u will see a 3 years print of Vshape....the target is up 1.4 to 1.5 might take a while
I think that you will find that most of the folks reading this thread are Day traders. So that "high target" is not yet relevant for them.
To free Gazans of Hamas, use whatever it takes.
  • #770,548
  • Aug 25, 2023 9:27am Aug 25, 2023 9:27am
Quoting DrDave
{quote} I think that you will find that most of the folks reading this thread are Day traders. So that "high target" is not yet relevant for them.

might take a while
MY OPINION NOT FINANCIAL ADVISE
  • #770,549
  • Aug 25, 2023 9:33am Aug 25, 2023 9:33am
Quoting birdland
{quote} I actually agree with you here, because MN is clearly in a downward trend. but the daily trend is still upwards, and it will not leave this trend to MN without a fight;-) we may not see 1.3141 anytime soon, but the 1.28-1.29 territory is definitely achievable.
It is not clear to me how you maintain that Daily is in an up trend.

Do you subscribe to the simple model of a down trend as comprising 3 swings: down, retrace up, return down?

If yes, then examine the Daily chart below. From tht highest high, the white/blue line is Weekly, magenta/yellow D2, and red/green D1.

So, both D1 and D2 have a down, retrace up, return down = DOWN TREND. And if D1 builds a swing of Weekly, then we see right here the white Weekly down swing built by the D1 1-2-3 down trend.
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To free Gazans of Hamas, use whatever it takes.
  • #770,550
  • Aug 25, 2023 9:42am Aug 25, 2023 9:42am
there 300 lurkers in here

they must all be waiting for people to post entries so they can copy cat
short trump and go long the deepstate
  • #770,551
  • Aug 25, 2023 9:42am Aug 25, 2023 9:42am
Quoting DrDave
{quote} It is not clear to me how you maintain that Daily is in an up trend. Do you subscribe to the simple model of a down trend as comprising 3 swings: down, retrace up, return down? If yes, then examine the Daily chart below. From tht highest high, the white/blue line is Weekly, magenta/yellow D2, and red/green D1. So, both D1 and D2 have a down, retrace up, return down = DOWN TREND. And if D1 builds a swing of Weekly, then we see right here the white Weekly down swing built by the D1 1-2-3 down trend. {image}
One could argue we are still in an uptrend on the daily based on the fact that we haven't breached and closed below 1.2590 which was the highest HL of the previous uptrend. Although that last swing was a big one and it would be a shame to miss out on all the pips on the way back down. It can be difficult for me to judge whether to wait for a market structure change of character (Break and close below 1.2590) or just go with the LH's and LL's being printed in the price range of that last bullish swing.
  • #770,552
  • Aug 25, 2023 9:43am Aug 25, 2023 9:43am
I like you mister 90 pips hourly candle
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yes yes yes
  • #770,553
  • Aug 25, 2023 9:46am Aug 25, 2023 9:46am
On GBPUSD, anyone that was looking at H1 and predicting where price would go, how did that fit in with price moving on the current open H1 bar about 30 pips above the prior bar's high AND, so far, about 25 pips below the the prior bar's low?

Chaos theory: it is IMPOSSIBLE to predict where price will stop next, and it's stopping point can look to be completely absurd according to conventional ideas.
To free Gazans of Hamas, use whatever it takes.
  • #770,554
  • Aug 25, 2023 9:46am Aug 25, 2023 9:46am
back to dxy my love

Sell the dollar only above 104.7 not before..
post this chart few time before
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  • #770,555
  • Aug 25, 2023 9:47am Aug 25, 2023 9:47am
Quoting DrDave
{quote} It is not clear to me how you maintain that Daily is in an up trend. Do you subscribe to the simple model of a down trend as comprising 3 swings: down, retrace up, return down? If yes, then examine the Daily chart below. From tht highest high, the white/blue line is Weekly, magenta/yellow D2, and red/green D1. So, both D1 and D2 have a down, retrace up, return down = DOWN TREND. And if D1 builds a swing of Weekly, then we see right here the white Weekly down swing built by the D1 1-2-3 down trend. {image}
i think more in waves.

For me, the 5th wave of the upward trend will soon be completed and the 6th wave will start.

then the question is do we go to new highs again towards 1.3250?

or a failed attempt at new highs towards 1.2900?

or even a failed attempt that doesn't even reach 1.2600.

these variants exist for me. we will see...
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trading is like dancing, don't think and just listen to the music!
  • #770,556
  • Aug 25, 2023 9:50am Aug 25, 2023 9:50am
Long 1.2555
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #770,557
  • Aug 25, 2023 9:50am Aug 25, 2023 9:50am
Quoting birdland
i bought first at 1.2717, second at 1.2636 and third at 1.2592. will TP above 1.2720-1.2750
a fourth buy added at 1.2558
trading is like dancing, don't think and just listen to the music!
  • #770,558
  • Aug 25, 2023 9:51am Aug 25, 2023 9:51am
When it moves, it's time to trade...
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  • #770,559
  • Aug 25, 2023 9:52am Aug 25, 2023 9:52am
Quoting Scotteyy
{quote} One could argue we are still in an uptrend on the daily based on the fact that we haven't breached and closed below 1.2590 which was the highest HL of the previous uptrend. Although that last swing was a big one and it would be a shame to miss out on all the pips on the way back down. It can be difficult for me to judge whether to wait for a market structure change of character (Break and close below 1.2590) or just go with the LH's and LL's being printed in the price range of that last bullish swing.
Yes, the requirement for that market structure break is one camp. Another camp does not require it. If you're in the 1st camp, you can still be trading by dropping to the H4 and selling the rallies to the D1 current swing down, because the H4 MUST go into a down trend to build the D1 down swing.
To free Gazans of Hamas, use whatever it takes.
  • #770,560
  • Aug 25, 2023 9:52am Aug 25, 2023 9:52am
Monday is a bank holiday in England so volumes might be low.
Insane in the Brain..
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