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Cable Update (GBPUSD)

  • #793,381
  • Nov 28, 2023 10:37am Nov 28, 2023 10:37am
Quoting Robinhood1
{quote} Bitcoin next. Coming soon
Possibility gold retraces back to its gap 1941. But just a possibility whereas Bitcoin will not be coming back. Trade well
POSTMASTER
  • #793,382
  • Nov 28, 2023 10:37am Nov 28, 2023 10:37am
Quoting JourneyLife
{quote} Here is a chart of GBPUSD in the 1980s. It went down over 10,000 pips. Straight down. IF you kept buying it, then you would lose. {image}
that was a long time ago…. None of us here has started trading by then.
  • #793,383
  • Nov 28, 2023 10:39am Nov 28, 2023 10:39am
DXY appears to have tested the low of the day 3x so far....
  • #793,384
  • Nov 28, 2023 10:44am Nov 28, 2023 10:44am
That was a crazy bullish flag then over the last day or 2. Im not into patterns though
  • #793,385
  • Nov 28, 2023 10:45am Nov 28, 2023 10:45am
Usdcad and Gold
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Master your mind. Master Trading.
  • #793,386
  • Nov 28, 2023 10:45am Nov 28, 2023 10:45am
Quoting OperaniyiFx
{quote} that was a long time ago…. None of us here has started trading by then.
It does not matter if it is a long time ago. When you trade free-floating currencies, you will get stopped out eventually. If you trade a currency that is not a free-floating currency, like USDHKD, then you have a better chance of a 10,000 pip stop strategy. For example, this chart of USDHKD:
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This is one investment in a bucket of thousands!
  • #793,387
  • Nov 28, 2023 10:46am Nov 28, 2023 10:46am
Quoting fxmasterdxb
i closed my long, will wait for the news and then enter Gold is big time bearish for me, im shorting it here
well that didnt work out well got stopped out with some decent losses
  • #793,388
  • Nov 28, 2023 10:46am Nov 28, 2023 10:46am
Quoting mkvy
That was a crazy bullish flag then over the last day or 2. Im not into patterns though
Patterns work, but you need more than patterns for them to work.
This is one investment in a bucket of thousands!
  • #793,389
  • Nov 28, 2023 10:50am Nov 28, 2023 10:50am
Quoting KareemAliFx
Usdcad and Gold {image} {image}
congrats my friend
you got it right with longing gold, probably you took my dollars when i got stopped out
  • #793,390
  • Nov 28, 2023 10:50am Nov 28, 2023 10:50am
Quoting Traderview
Bulls need PA stays above 1.2634.
Closing everything here @ 1.2695. 60 pips.
1.5% up.

Likely going to touch 1.2710 and move sideways of 1.2680 - 1.2715.
Trade diligently. Protect your capital.
There's always another day and another trade.

See you guys tomorrow.
  • #793,391
  • Nov 28, 2023 10:53am Nov 28, 2023 10:53am
Appears that either the market isn't done dropping the US$ or too many retail traders are trying to catch the current level.
  • #793,392
  • Nov 28, 2023 10:54am Nov 28, 2023 10:54am
Quoting MrFanciful
{quote} Higher timeframes only tell you what, in aggregate, what the lower timesframes did during that period. Candles are themselves, lagging indicators.
Well no shit Sherlock. I was talking and replying about the spike. Spikes come from big money, and big money look at big candles.
  • #793,393
  • Nov 28, 2023 10:56am Nov 28, 2023 10:56am
Non-financial institutions, like retail traders, make up less than 7% of forex market transactions. I doubt that tiny retail traders really matter in the great ocean of forex. The whole sum of retail traders cannot even give fuel to the fire if they all buy at the same time.
This is one investment in a bucket of thousands!
  • #793,394
  • Nov 28, 2023 10:59am Nov 28, 2023 10:59am
TP 1.33 LOL!!!!
  • #793,395
  • Edited 11:26am Nov 28, 2023 11:01am | Edited 11:26am
Quoting Headland
{quote} Above the prev 1hr/4hr sw lo zone mentioned above, there is a prev 1hr/4hr sw hi zone = prev res = pot res that extends on 4hr from 2694-2712. Above that a prev 4hr/dly sw hi zone = prev res = pot res that extends to 2747, and starts on dly around the 61.8% of the main 3142-2038 move which is @ 2720, with Wkly R2 @/around 2724.....
Just updating charts...not in anything after finishing own session flat earlier, as is usual for me. I posted the above highlighted text in the quote above earlier today.
Trader with an Edge.
  • #793,396
  • Nov 28, 2023 11:01am Nov 28, 2023 11:01am
Quoting fxmasterdxb
{quote} congrats my friend you got it right with longing gold, probably you took my dollars when i got stopped out
haha it’s okay my friend we can’t get em all . I hope I didn’t rob you too hard cheers
Master your mind. Master Trading.
  • #793,397
  • Nov 28, 2023 11:02am Nov 28, 2023 11:02am
Has Biden already won a second term? Is this why the dollar is falling like this?
  • #793,398
  • Nov 28, 2023 11:02am Nov 28, 2023 11:02am
For 25 pips
Sl is trailing
If it hit i am busted and will return at 8 of December
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yes yes yes
  • #793,399
  • Nov 28, 2023 11:04am Nov 28, 2023 11:04am
Quoting kelvinftg
{quote} Well no shit Sherlock. I was talking and replying about the spike. Spikes come from big money, and big money look at big candles.
I agree, but in forex, retail traders make up less than 7% of all the candles.
This is one investment in a bucket of thousands!
  • #793,400
  • Nov 28, 2023 11:05am Nov 28, 2023 11:05am
Quoting Wavegarrick
{quote} Buy trade holding up nicely. My long term 61.8% fib retrace at 1.27182 becomes a reality. Take care. Cheers. {image}
Sell limit at 1.27182...... I will cut this trade with a daily break and hold above 1.27500.
Cheers.
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Trade to trade another day
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