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Cable Update (GBPUSD)

  • #786,601
  • Oct 28, 2023 2:50am Oct 28, 2023 2:50am
Friday was not an easy day, the exchange rate is currently in a trend channel opening like scissors.
we are likely to reach 1.20700.
I'm still a bear
  • #786,602
  • Oct 28, 2023 3:37am Oct 28, 2023 3:37am
Morning all ...well done England and...
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  • #786,603
  • Oct 28, 2023 4:14am Oct 28, 2023 4:14am
Quoting tiborf71
Friday was not an easy day, the exchange rate is currently in a trend channel opening like scissors. we are likely to reach 1.20700. I'm still a bear
but I also think it is conceivable that it descends lower.
we'll see.
  • #786,604
  • Oct 28, 2023 4:35am Oct 28, 2023 4:35am
Quoting tiborf71
{quote} but I also think it is conceivable that it descends lower. we'll see.
Yes. Agreed. Dollar index is still in a two week range whilst GU wanted to re-price down significantly this week. I think Dollar is headed more up... but we'll see what happens with Treasuries over coming weeks. Mentioned at the start of the week AWR was a good target and that's all it wanted this week. I think when DXY starts trending again it can only accelerate GU downwards
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  • #786,605
  • Oct 28, 2023 4:47am Oct 28, 2023 4:47am
yes, the price has to go down first, before the rise is even possible.
  • #786,606
  • Oct 28, 2023 4:55am Oct 28, 2023 4:55am
Quoting footprint
{quote} Yes. Agreed. Dollar index is still in a two week range whilst GU wanted to re-price down significantly this week. I think Dollar is headed more up... but we'll see what happens with Treasuries over coming weeks. Mentioned at the start of the week AWR was a good target and that's all it wanted this week. I think when DXY starts trending again it can only accelerate GU downwards {image}
Wait..sorry doesnt make sense. The weekly candle had long wicks and a small body. So it only closed slightly below where it opened. Still, point remains, I think its sell bias going forward.
We have BOJ and FOMC next week-- I think all hell is going to break loose on that front, on the markets. Seriously.
BOJ are dumping Treasuries at a v high rate and still hold over a Trillion. How long can this Treasury bear market go before something gives?
  • #786,607
  • Oct 28, 2023 5:45am Oct 28, 2023 5:45am
in any case, I think it is a warning sign that despite Thursday's fantastic USD news, this pair does not fall like a falling star, I think that the bulls will have their time.
I think it is possible that 1.20360 is the bottom of the valley.
  • #786,608
  • Edited 6:09am Oct 28, 2023 5:55am | Edited 6:09am
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #786,609
  • Oct 28, 2023 6:43am Oct 28, 2023 6:43am
yes, I'm a bear H4.
I would already buy D1, and I would keep it for two weeks.
I wait until my bear closes.
  • #786,610
  • Oct 28, 2023 6:59am Oct 28, 2023 6:59am
The coming week..Account blowing week who trade against moves.

Lots of news events.

Utmost caution needed
Intraday only.
  • #786,611
  • Oct 28, 2023 7:25am Oct 28, 2023 7:25am
Quoting navk
The coming week..Account blowing week who trade against moves. Lots of news events. Utmost caution needed
as always, with the utmost caution.
  • #786,612
  • Edited 11:31am Oct 28, 2023 11:19am | Edited 11:31am
Quoting elbert3
{quote} as pat said its been a tricky one Navk lost a few grand on that this week,been toooo busy to take a ;ot of trades normally do 20/30 a day lol crazzy but i have losses but i always come out with some bigger wins ,,the broker loves me lol i will be expecting a case of Armand this christmas have a good weekend E
If I were you, my first thing would be to see how to recover.

Trading smaller tf with accuracy may help you to recover

I mean 15 minutes and less.

Last week, good move.

2293 to 2066 = 253 pips.

Having moved 253 pips, execting further move down is not to be expected. So a retrace.

Even if it had moved down more, it is riskier to hold .
Intraday only.
  • #786,613
  • Oct 28, 2023 11:55am Oct 28, 2023 11:55am
I will continue to be a bear, target 1.20700. then long.
it's best if I stick to my plan.
  • #786,614
  • Oct 28, 2023 12:27pm Oct 28, 2023 12:27pm
Quoting tiborf71
I will continue to be a bear, target 1.20700. then long. it's best if I stick to my plan.
It is bearish close.

So, testing daily lows 1.2090 to 1.2070 is not ruled out.

But then I do not trust much in analysis.

I go by PA after open.
Intraday only.
  • #786,615
  • Oct 28, 2023 12:49pm Oct 28, 2023 12:49pm
Quoting navk
{quote} It is bearish close. So, testing daily lows 1.2090 to 1.2070 is not ruled out. But then I do not trust much in analysis. I go by PA after open.
if my goal is achieved, I will definitely open a long position for the longer term.
I see that you are an intraday trader, so our goals may not agree at the given moment.
H4,D1.
  • #786,616
  • Oct 28, 2023 1:08pm Oct 28, 2023 1:08pm
Quoting tiborf71
{quote} if my goal is achieved, I will definitely open a long position for the longer term. I see that you are an intraday trader, so our goals may not agree at the given moment. H4,D1.
How long you stick onto trades being h4, daily trader ?
Intraday only.
  • #786,617
  • Edited 1:35pm Oct 28, 2023 1:18pm | Edited 1:35pm
Rugby world cup final:
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Vs
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Go Boks
Trade to trade another day
  • #786,618
  • Oct 28, 2023 1:24pm Oct 28, 2023 1:24pm
Quoting navk
{quote} How long you stick onto trades being h4, daily trader ?
usually d1 defines the main direction. h4 helps to strengthen. h1 is good for intraday trading but not suitable for longer term.
but everyone decides for themselves what works best for them..
  • #786,619
  • Oct 28, 2023 1:29pm Oct 28, 2023 1:29pm
Quoting tiborf71
{quote} usually d1 defines the main direction. h4 helps to strengthen. h1 is good for intraday trading but not suitable for longer term. but everyone decides for themselves what works best for them..
ok
Intraday only.
  • #786,620
  • Oct 28, 2023 1:48pm Oct 28, 2023 1:48pm
just a novice view
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MY OPINION NOT FINANCIAL ADVISE
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