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Cable Update (GBPUSD)

  • #777,701
  • Sep 24, 2023 3:50pm Sep 24, 2023 3:50pm
Quoting Nordling
GU short 1.2245 Let's close the gap
Closed already
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  • #777,702
  • Sep 24, 2023 3:51pm Sep 24, 2023 3:51pm
Long trade taken above 2228.
Intraday only.
  • #777,703
  • Sep 24, 2023 3:52pm Sep 24, 2023 3:52pm
To close the gap, one has to give 10 pips + spread.
Intraday only.
  • #777,704
  • Sep 24, 2023 4:42pm Sep 24, 2023 4:42pm
im placing buy limits at 2230,2225 and 2220 but will buy on a signal on 4H manually cause im boolish
short trump and go long the deepstate
  • #777,705
  • Sep 24, 2023 4:45pm Sep 24, 2023 4:45pm
If anyone cares for the bigger picture in GU but also what might happen in the short term. Last week we had a break of 1.23, which is significant, since it confirmed that the drop from the 1.31 high is now the first impulse of a new structure and the previous uptrend is broken for the time being. What is this new structure? Most likely a 3 wave corrective structure of the whole upmove from 1.03 to 1.31.

So what we can expect next, after the first impulse has finished, is a corrective upmove potentially up to the 1.26-27 region and then another impulse to the downside to around 1.15. Do I think this upmove is ready yet? No. I think at the start of this week we could go up a bit but then get another drop down to 1.215. From there we might see a bigger correction unfold over the next few weeks before the inevitable drop down to 1.15 or even lower, while the dxy probably breaks 110 and EU goes back to parity. This will obviously take a few months but after that we are probably ready for the next big upmove which can take us all the way up to 1.5.

Also as a reminder, structures can change but right now fundamentals dont support any kind of weakness in the dollar in the medium term but a correction is certainly due. What might be the reason, I dont know. Maybe boe will hike again since cpi is still elevated and fed could pause again until december but I dont see GU dropping straight down to 1.15 without correction. Thats not how markets usually behave but even if it keeps dropping thats not my trade until I get a clear setup with good risk/reward. Hope that helps.
  • #777,706
  • Sep 24, 2023 4:49pm Sep 24, 2023 4:49pm
Quoting eyefeelsix
{quote} Stoploss+ ( I use auto-exited 1 Hour before market closed ) --- done for friday {image}

it's hard to trade against the momentum, better I short on pull-back, if there is one..

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 37 KB
https://breakpullback.com
  • #777,707
  • Edited 5:10pm Sep 24, 2023 4:52pm | Edited 5:10pm
Quoting Nvrmd
If anyone cares for the bigger picture in GU but also what might happen in the short term. Last week we had a break of 1.23, which is significant, since it confirmed that the drop from the 1.31 high is now the first impulse of a new structure and the previous uptrend is broken for the time being. What is this new structure? Most likely a 3 wave corrective structure of the whole upmove from 1.03 to 1.31. So what we can expect next, after the first impulse has finished, is a corrective upmove potentially up to the 1.26-27 region and then another impulse...

i dont know jack shit about ewave cause when i learned ralph elliot never traded his creation and died broke because he just sold signals to rich folk that probably lost money i dropped that concept in a second.

but your levels match my stupidly simple system so we're probably right

Quoting Zebi
well gentlemen..after a long exhaustive and sleepless night handicapping NFL teams and chart TA ive placed all my bets on todays games and still think this week will turn out to be a green candle i even have targets of 2380 and even up to 2550 on daily chart its game time so ill be back tonight
short trump and go long the deepstate
  • #777,708
  • Sep 24, 2023 4:53pm Sep 24, 2023 4:53pm
Quoting eyefeelsix
{quote} it's hard to trade against the momentum, better I short on pull-back, if there is one.. {image}
Or simply wait for a better setup.
  • #777,709
  • Sep 24, 2023 4:56pm Sep 24, 2023 4:56pm
Quoting dantpm
{quote} Or simply wait for a better setup.
yes, if only trade in GU only, there are still many many opportunities in other pairs
https://breakpullback.com
  • #777,710
  • Sep 24, 2023 5:11pm Sep 24, 2023 5:11pm
Quoting shakmoney
{quote} no gap
Alright still short
You have to have an IQ higher than 90 to interact with this user.
  • #777,711
  • Sep 24, 2023 7:31pm Sep 24, 2023 7:31pm
Long 1.2238 SL 1.2228
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #777,712
  • Sep 24, 2023 8:27pm Sep 24, 2023 8:27pm
As I said last weekend, GU will go sideways because data for GU and USD was mixed.
Next EU news will set a direction for GU. There are more chances for the Bearish trend because price retested 1.22499 already. We can see a downtrend with EU news.
EU effects GU because of its connection with Europe.
Secret to the Price Action is Liquidity.
  • #777,713
  • Sep 24, 2023 9:07pm Sep 24, 2023 9:07pm
GU looking primed for more bloodshed . All about sells
Master your mind. Master Trading.
  • #777,714
  • Sep 24, 2023 9:21pm Sep 24, 2023 9:21pm
Quoting KareemAliFx
GU looking primed for more bloodshed . All about sells
1.228xx - 1.23 is good for short with target 1.21xxx..
  • #777,715
  • Sep 24, 2023 9:50pm Sep 24, 2023 9:50pm
No GBP news, high inflation in the UK, sideways pre-predicted movement of GBP, continues stability of dollar.
All these signs indicates that GBP can dip below 1.215. For now, wait for the EU major news, this will set a direction for the GU, it may cause a retest or directly dip it (Higher chances of directly dropping GU).
If it drops harder, we are definitely going below 1.215. First target should be 1.218**, do not make any entry if you want to hold a trade. Wait for a retest/news.
Secret to the Price Action is Liquidity.
  • #777,716
  • Sep 24, 2023 10:26pm Sep 24, 2023 10:26pm
My most of the price action predictions are accurate. But, still price hits my SL and moves to the direction where I set my TP. I need to learn about taking entries. Is there any PDF or any anyone who can guide me properly?
Secret to the Price Action is Liquidity.
  • #777,717
  • Sep 24, 2023 10:39pm Sep 24, 2023 10:39pm
Quoting iusman23
My most of the price action predictions are accurate. But, still price hits my SL and moves to the direction where I set my TP. I need to learn about taking entries. Is there any PDF or any anyone who can guide me properly?

knock your socks off

https://www.forexfactory.com/thread/...e-only-pattern?
short trump and go long the deepstate
  • #777,718
  • Edited 11:03pm Sep 24, 2023 10:43pm | Edited 11:03pm
POIs GU intraday. This is ICT style, for those who study it.

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There's no simple and quick explanation for the chart. If you're already knowledgeable at ICT, then anticipate P03 (weekly and daily), and the price bouncing between any PD array levels, either from or into a liquidity drawdown.

Since it's Monday, we anticipate manipulation of the weekly candle, potentially continuing until Tuesday. The liquidity drawdown is very close, below it, the overall momentum is bearish, and we may expect a purge to happen sooner rather than later.

I do not have a bias yet. I would like to see this but I need to wait until the London opening range ends.

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Therefore, waiting for now, no action decided (if any) yet for today.
  • #777,719
  • Sep 24, 2023 11:13pm Sep 24, 2023 11:13pm
Quoting KareemAliFx
GU looking primed for more bloodshed . All about sells
You got it brother!! I already have a few sell orders in.
  • #777,720
  • Sep 24, 2023 11:30pm Sep 24, 2023 11:30pm
Quoting eyefeelsix
{quote} it's hard to trade against the momentum, better I short on pull-back, if there is one.. {image}

take the risk for the fifth wave ( small degree )

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 32 KB
https://breakpullback.com
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