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

2173/2144 possible short target and long
1.2187 Support on H1. Waiting to see where H1 will close.

Retracements are usually quick, so I'm not worried at the moment.
It will go up again
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Quoting TheWraith
{quote} Didn't say he doesn't! Hmm.....
They trading the big picture.. not the LTF..
and this is theirs time to shine.

kind of correction is the best they can get for keep loading with discounts.
Be kind, the money will follow
Quoting Whale
{quote} They trading the big picture.. not the LTF.. and this is theirs time to shine. kind of correction is the best they can get for keep loading with discounts.
True... but even those trading higher TF, should know price tested Support at 1.21 already. Unless some heavy drop comes today or tommorow, then they missed going Long at 1.21. We'll see...
Wonder how price will react at 1.214X
Be kind, the money will follow
Quoting TheWraith
{quote} True... but even those trading higher TF, should know price tested Support at 1.21 already. Unless some heavy drop comes today or tommorow, then they missed going Long at 1.21. We'll see...
Not sure what support there is at 1.21
price was totally over sold yesterday
Be kind, the money will follow
Also, it's not like we're forced to get into position right now. One can wait this out and see if this was a retracement or another drop is coming.
Quoting Zebi
we all know its monthly and quarterly close this friday so heres a quarterly chart i use real bodies to draw trendlines cause wicks just represents idiot retail traders so i ignore them cause they dont mean that much in my analysis regardless how you draw your lines youll have to admit price is hitting support on weekly,monthly and quarterly {image}

a friday close above 2174 and there wont be any TA damage done to this chart
Quoting TheWraith
{quote} What do you know that we don't? Looks like classic retracement of morning rally to me.
Germany is in recession. Due to Usd being a safe haven, and euro & gbp & dow jones being risk instruments, they will lose ground against dollar
I make my own luck.
Quoting Nordling
{quote} Germany is in recession. Due to Usd being a safe haven, and euro & gbp & dow jones being risk instruments, they will lose ground against dollar
I didn't say you're wrong! This just looked to me at first like retracement.. this could very well be a start of another drop.

You're right Germany is dead, but Germany has been dead for a while.
Quoting TheWraith
{quote} What do you know that we don't? Looks like classic retracement of morning rally to me.
up to what level?
"No trade is still a trade." - Peter Borish
Quoting Whale
{quote} Not sure what support there is at 1.21 price was totally over sold yesterday
MN S2 on my chart.
ill go long on this hourly candle if closes green in 60 min
Quoting Lbrto
{quote} up to what level?
What retracement?

Whale said 1.214 and I agree with him. If this level drops, Buy isn't advisable anymore.
Quoting TheWraith
{quote} MN S2 on my chart.
oh..
Pivot are good.. but when it comes to Market structure/trend..
It kind of worthless
Be kind, the money will follow
Quoting Whale
{quote} if the Japanese will keep the rates as now and for once in a while will do a Intervention it’s will go to 178 and above .. it’s sound I will wait for 240 (sounds bizarre but the chart shows it long long term)
Nothing sound ... Japenese will keep the rates as now and for once in a while will do a Intervention Intelligent it's will go to 178 and above Fish Head
You will wait for 240 Post Trades Time coming for you Big Time
Quoting Whale
{quote} oh.. Pivot are good.. but when it comes to Market structure/trend.. It kind of worthless
The system served me well and continues to do it's job. I won't complain!
Quoting TheWraith
{quote} I didn't say you're wrong! This just looked to me at first like retracement.. this could very well be a start of another drop. You're right Germany is dead, but Germany has been dead for a while.
You are right buddy, i just see bloomberg and other mainstream media pumping fear into the market creating a sell off rally Germany is in recession for a while now but somehow only now they make it a big deal
And i am like "ok, let's sell it and go with the flow " haha
I make my own luck.
for 20 pips
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