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Cable Update - Continued 61 replies

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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Quoting donfriday
candlestick student coem educated us what pattern of the candle is this. {image}
Looks like Elliot Wave turning into Wyckoff, I guess.
Secret to the Price Action is Liquidity.
Quoting JackintheBox
{quote} They had to take a big snap bag up to almost 1.2370. Downtrend now quite damaged, currently next attack on 1.2350 attempt. I would wait for break, they get weaker and weaker to push it down. Cost money for shorties.
We currently see collecting shorts a bit slower, ready to attack 1.2350... So they wait until he finished talking. Also USD/CHF is at the border to gain new ground. I think we see real USD strength. So no long for me.
Quoting donfriday
candlestick student coem educated us what pattern of the candle is this. {image}

viagra induced priapic candle
stay with the 5% contrarians not the 95% losers
Quoting donfriday
candlestick student coem educated us what pattern of the candle is this. {image}
Kinda looks like this to me..... a big fu from the market burning stops

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B4 Elvis there was nothing
Quoting Waveskierrob
{quote} ...same here BE 7400...
I added more 7729, 7730 and 7731 not expecting drop today but rest of week possible... Still underwater with you on rest of positions
B4 Elvis there was nothing
...that sell-off from the prev 1hr sw lo then hi zone to 2426 / 1hr/4hr sw hi zone to 2424 had started after price tested top of those zones before the fomc...2nd 1hr attempt at getting north of the 1st mentioned zone.The sell-off continued and demand was encountered in the top of the prev sw lo zone that extends down to current dly/Asian lo....small bounce and the sell-off continued deeper in that pot supp zone (that extends down to 2333 current dly lo,) and this zone is coexistent with the prev 4hr/dly/wkly sw lo zone that extends down to 2307, again = prev supp = pot supp.

1hr below
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Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Quoting T721
{quote} In other news i am a little underwater ftse and looking to add
Hope will reverse tom, if not, clear W
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Seems we are in for a no rate rise tomorrow too.. maybe open up 122?
Quoting BeeTogether
Seems we are in for a no rate rise tomorrow too.. maybe open up 122?
Inflation in England is much higher than in USA and EU.
Classic Fed Meeting Price Action... down up down.
Quoting JackintheBox
{quote} We currently see collecting shorts a bit slower, ready to attack 1.2350... So they wait until he finished talking. Also USD/CHF is at the border to gain new ground. I think we see real USD strength. So no long for me.
Ok, we saw the final attack but now correction. I think later they will take new attempt to break through 1.2350 completely. FED finished talking. I would not recommend to take a position now except short at 1.2349 with SL on 1.2365. I would never take that trade because it's not my style but all looks for new lows. FED talk was well, better than expected and as I said before: If they have to raise the rates one more time they do it... that was the sentence I waited for. So, yes even after 9 weeks of USD strength we could see another leg down on GBP/USD. I go to bed, all positions closed.
See you tomorow probably.
Quoting Eren10
{quote} Inflation in England is much higher than in USA and EU.
however it has dropped a bit today. I think a rate rise could still happen but odds a lot lower than they were this time last week
... There are probably a lot of longer-term long-position stops under 2307? How strong are the bears now? Possible demand initially all the way down to that 2307? 2333 the current dly lo. Circa 2325 = Wkly S1, and circa 2311 = Dly S3.

wly below
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Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Quoting Nordling
Hawkish pause or a dovish hike in 20 minutes? I am guessing it will be a hawkish pause with a higher gdp growth rate projection. Which should be enough to support USD. Going short again in DJ30 (us30) Short from 34700 SL at 35100
DJ is crashing lmao
I make my own luck.
I am long with 3 positions, I'm afraid if it breaks the lowest support.
Secret to the Price Action is Liquidity.
Quoting Waveskierrob
{quote} ...same here BE 7400...
FTSE short adds seem to be going well so far. this swing will take a long time tho
B4 Elvis there was nothing
About to get stop out!
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Face 'ur fear & Tame 'ur greed
Very nice bearish candle , eurusd continues the downtrend sell sell sell
Master your mind. Master Trading.
...currently not looking good for the intraday+ bulls, but you never know - anything can happen and price is in a potential supp zone (s.) 4hr candle shaping up to be a big bearish thrust and possibly bearishly engulfing the previous 19 on that t/f...see how it closes in just over 1hr.

4hr below
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Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Impassioned, opened another long position at 12345.9
Expecting today's lows, but profit taking should take place soon, oversold too.
I probably will leave for a day.
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