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Cable Update - Continued

  • #21
  • Sep 14, 2023 2:23am Sep 14, 2023 2:23am
Quoting Pipgrail
Hi all Hi wavegarrick! Congratulations on the excellent initiative... I've been following FF for many years, I learned a little from everyone (thanks all for that) , but I think you transmit knowledge in an open, simple and natural way. Honestly, you got my attention from the beginning. Keep it up my friend H1 perspective, long H4 Need a close 1.2500 to confirm long
Pipgrail, Welcome my friend.
Trade to trade another day
  • #22
  • Sep 14, 2023 3:38am Sep 14, 2023 3:38am
thank you Wavegarrick..
im trying to figure out your explanation..

this is my view :
on my mt4 chart we are in downtrend, but it seems it going to make lower high (am i correct?)
then it fell down again..

and its in line with dxy that i see on last friday closing as a bullish pin bar (?)
and they going downtrend on monday and today..
seems the dxy are going to find the lowest support..

please everyone correct me.. thank you..
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  • #23
  • Sep 14, 2023 6:25am Sep 14, 2023 6:25am
No matter of news, after a hurricane, it will goes UP.
  • #24
  • Sep 14, 2023 8:33am Sep 14, 2023 8:33am
Hi Leon,

are you still in long positions? GU could likely drop much i see to 1.234xx ..
  • #25
  • Sep 14, 2023 9:15am Sep 14, 2023 9:15am
Quoting hans91
Hi Leon, are you still in long positions? GU could likely drop much i see to 1.234xx ..
Hi Hans,
This thing knocked me off my feet and I took some losses. It is what it is. Big level is just below 1.2400 with confluence of monthly and weekly support. I am in with a small momentum sell scalp so will have to see. Not gonna rush into this.
Cheers.
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  • #26
  • Sep 14, 2023 9:48am Sep 14, 2023 9:48am
Exact touch of 1.2400 and rejection possible retest of 1.24500 before another try down. If it smashes through 1.24500 this whole move could be fake.
Trade to trade another day
  • #27
  • Sep 14, 2023 9:49am Sep 14, 2023 9:49am
I still thinking that it is a matter of time go goes up. I can wait.
  • #28
  • Sep 14, 2023 10:31am Sep 14, 2023 10:31am
Quoting Wavegarrick
{quote} Hi Hans, This thing knocked me off my feet and I took some losses. It is what it is. Big level is just below 1.2400 with confluence of monthly and weekly support. I am in with a small momentum sell scalp so will have to see. Not gonna rush into this. Cheers. {image}
Hi Leon, please take a look to this screenshot
i'm aiming to 1.22867. it could be a bounce from there.
let see next week where there's a possible GU will drop to that area.
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  • #29
  • Sep 14, 2023 10:39am Sep 14, 2023 10:39am
Quoting bigiivan
I still thinking that it is a matter of time go goes up. I can wait.
just thinking out loud, it's just a correction when going up then fall again.
  • #30
  • Sep 14, 2023 10:50am Sep 14, 2023 10:50am
Quoting hans91
{quote} just thinking out loud, it's just a correction when going up then fall again.
It might fall till 1,2300. We might call it main move ... a correction ... I don't know. But after that it might rise to 1,2500. I still don't know how we call it.
But I know this down move is exhausted and I am waiting to buy.
  • #35
  • Sep 15, 2023 5:39am Sep 15, 2023 5:39am
I am setting up for a sell trade. Not the ideal place I want to sell but let's see. Sorry for not posting my buy scalps timely. I got distracted.
Cheers Folks.
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  • #36
  • Sep 15, 2023 6:02am Sep 15, 2023 6:02am
Quoting Wavegarrick
I am setting up for a sell trade. Not the ideal place I want to sell but let's see. Sorry for not posting my buy scalps timely. I got distracted. Cheers Folks. {image}
It's okay.
My buy hit +ve SL.
I'll wait for another opportunity to join
  • #37
  • Sep 15, 2023 9:09am Sep 15, 2023 9:09am
If I have free margin, I will buy. Unfortunatelly, I am in a buy on other GBP pair.
  • #38
  • Sep 15, 2023 10:25am Sep 15, 2023 10:25am
Quoting bigiivan
If I have free margin, I will buy. Unfortunatelly, I am in a buy on other GBP pair.
Yes Bigive. This is a level that could well serve as an area for a bigger correction upwards. My monthly support 2 seldom gets reached which is at 1.23931 . This could well be the buy setup for next week for me seeing that sells are over extended. I remain cautious to sell around here.
Have a great weekend,
Cheers.
Trade to trade another day
  • #39
  • Sep 15, 2023 10:39am Sep 15, 2023 10:39am
Where should I enter to buy? I am consistently losing today, I was expecting a huge wick downwards but it didn't made any move. I lost with a sell position. Later it moved for Buy and I failed again. Is there any prediction?
I personally think it will hit 1.2300 and then it might jump to 1.2500 or maybe higher than that position. Can someone please help me to understand GBP/USD movement. I am totally new to trading, its been only 3 weeks.
Secret to the Price Action is Liquidity.
  • #40
  • Sep 19, 2023 5:08am Sep 19, 2023 5:08am
Quoting iusman23
Where should I enter to buy? I am consistently losing today, I was expecting a huge wick downwards but it didn't made any move. I lost with a sell position. Later it moved for Buy and I failed again. Is there any prediction? I personally think it will hit 1.2300 and then it might jump to 1.2500 or maybe higher than that position. Can someone please help me to understand GBP/USD movement. I am totally new to trading, its been only 3 weeks.
Try and study the charts on the monthly , weekly and daily time frame and see the trend. This is a concept of the late great W.D.Gann.
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