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Cable Update (GBPUSD)

  • #773,281
  • Sep 7, 2023 6:12am Sep 7, 2023 6:12am
Your trading strategy is useless without risk management
MY OPINION NOT FINANCIAL ADVISE
  • #773,282
  • Edited 6:29am Sep 7, 2023 6:15am | Edited 6:29am
Quoting Elysion
{quote} Maybe leaving a few positions open for news hehe.
I have a little projection.
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Price was a daily demand zone, some bounce to the upside is expected.
Now, lets pray that it will work
More time in the market, does not mean you trade better!
  • #773,283
  • Sep 7, 2023 6:21am Sep 7, 2023 6:21am
Quoting Fardeen1209
{quote} I have a little projection. {image} Demand was a daily demand zone, some bounce to the upside is expected. Now, lets pray that it will work
I will cling to your projection with an unhealthy level of hope I'm fine. It's not the first time I have done this to myself...
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I have no clue where it's going
  • #773,284
  • Sep 7, 2023 6:29am Sep 7, 2023 6:29am
Hello,

A top down summary of the longer t/f's;

* 3142 (current yrly hi) seems a looooooong time ago now lol!
* Said 3142 is now a fractal swing H on the mthly t/f, (with close of last mth's candle) - this t/f can be said to be rangy.
* Last week's inverted hammer wkly candle has failed to see an upside follow-thru with price selling down (after Monday's bullish dly 'inside bar' candle,) to what will be a L (when it forms fractally) under the last LH on that t/f, (2591,) currently in a corrective part of it's current 'general' uptrend. The prev sw lo zone that extends to 2307 is the next pot supp zone on this t/f. There is a pattern of bullish hidden div on the wkly t/f osc's - which may be valid so long as price is above that said 2387 lo.
* There will be a new L on the dly t/f (when it forms fractally,) below the last HL (2577,) and LL (2547) in what has been a move down from that 3142 current yrly hi. This t/f is currently in a 'general' downtrend. The prev sw lo zone that extends to 2368 is the next pot supp zone on this t/f. It starts circa 2414.

So far today 58% 30day adr traveled with a downside breach of Dly S1, with the current dly lo @/around Wkly S2. Intraday is down so far with a sell-off below the Asian lo. The Asian hi/current dly hi is untouched so far. 1hr and 4hr are in 'general' downtrends.

wkly, then dly below
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Trader with an Edge.
  • #773,285
  • Sep 7, 2023 6:32am Sep 7, 2023 6:32am
Quoting Moty
Easy money {image}
Now it will stopped out me like always
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yes yes yes
  • #773,286
  • Sep 7, 2023 6:33am Sep 7, 2023 6:33am
Quoting LifeRider
{quote} I will cling to your projection with an unhealthy level of hope I'm fine. It's not the first time I have done this to myself... {image}
Define your risk and lot size appropriately, according to your account.

I'll go aggressive at the QM if price unfold to the upside.

Beautiful labelling does not guaranteed anything
More time in the market, does not mean you trade better!
  • #773,287
  • Sep 7, 2023 6:47am Sep 7, 2023 6:47am
Quoting gespiri
{quote} I’ll wait for a retest to commit to a corrective BUY tomorrow LO. I have 1.2446 as a reversal up before hitting 1.2305 (weekly BB).{image}
I think there won't be a big move today/tomorrow.....I'm expecting the week to close around these levels.
However, we can see a corrective move up next week before moving down. We'll wait and see.
Lost....
  • #773,288
  • Sep 7, 2023 6:53am Sep 7, 2023 6:53am
Quoting Moty
{quote} Now it will stopped out me like always {image}
Exit manually with 6 pips loss
Took short
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yes yes yes
  • #773,289
  • Sep 7, 2023 7:00am Sep 7, 2023 7:00am
Quoting tradexyz
{quote} {file}
Guess it repaints like other tmas right?
  • #773,290
  • Sep 7, 2023 7:03am Sep 7, 2023 7:03am
Short until next signal
Price is ranging before the news
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yes yes yes
  • #773,291
  • Sep 7, 2023 7:06am Sep 7, 2023 7:06am
If GU was going to be data driven by the US$ unemployment, a much smaller than expected unemployment level would potentially contribute to a US rate increase. I doubt that we will see this scenario.
It is simply a case of where do 'they' want to take GU price today. I believe it looks like down is more likely.
  • #773,292
  • Sep 7, 2023 7:11am Sep 7, 2023 7:11am
Quoting dantpm
If GU was going to be data driven by the US$ unemployment, a much smaller than expected unemployment level would potentially contribute to a US rate increase. I doubt that we will see this scenario. It is simply a case of where do 'they' want to take GU price today. I believe it looks like down is more likely.
My hourly shows a higher probability of bullish candle formed for this hour than bearish.
But since it's a major news, it can go either way.
I'll wait for the current candle to close before I decide long or short.
Exhausted
  • #773,293
  • Sep 7, 2023 7:14am Sep 7, 2023 7:14am
Quoting Yngwie
Long again 1.2450
closed +15p news coming up
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #773,294
  • Sep 7, 2023 7:27am Sep 7, 2023 7:27am
Quoting TheWraith
{quote} Sell Limit 147.560 Short {image}
I hate to change my narrative about usdjpy going short but there was a missing piece in my visual pattern which i did not take much importance of till a cable short pattern apeared showing support 1.2030. So, to me its long.
I love interpreting patterns but not easy till i eventually see every movement clearly within it. I am not far away from completing the process. GL
POSTMASTER
  • #773,295
  • Sep 7, 2023 7:29am Sep 7, 2023 7:29am
Quoting Moty
{quote} Exit manually with 6 pips loss Took short {image}
wow
seriously
price is about to blast upward

you should really reevaluate why you trade.
in wondering about yourself, you forgot what you came here to be part of
  • #773,296
  • Sep 7, 2023 7:32am Sep 7, 2023 7:32am
Will buy and hold I guess.
Exhausted
  • #773,297
  • Sep 7, 2023 7:32am Sep 7, 2023 7:32am
The markets got lower than expected unemployment claims and higher than expected wage growth, both supportive of higher US$ rates!
  • #773,298
  • Sep 7, 2023 7:32am Sep 7, 2023 7:32am
Numbers all good for USD, careful with longs currently. I dont go long now.
  • #773,299
  • Sep 7, 2023 7:38am Sep 7, 2023 7:38am
ADR not reached. Slow Stochastic strong oversold on 1 hour, so backflip potential is there. But that is exactly a situation where I don't trade. Bias on long side now for next 1 hour but it is too dangerous for me, I don't like to play roulette on my stats. So I don't go long (now).
  • #773,300
  • Sep 7, 2023 7:40am Sep 7, 2023 7:40am
My euro trades are shit and dragging me down, but GU is doing A-ok for now.
Damn euro.
Exhausted
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