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Cable Update (GBPUSD)

  • #812,201
  • Feb 27, 2024 11:53am Feb 27, 2024 11:53am
current pa is pure accumulation
  • #812,202
  • Feb 27, 2024 11:59am Feb 27, 2024 11:59am
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yes yes yes
  • #812,203
  • Feb 27, 2024 12:02pm Feb 27, 2024 12:02pm
Quoting thevisitor
current pa is pure accumulation
Yep... price is ranging for 3 months now it seems... damn.

Accumulation, then manipulation and lastly distribution haha.

If D1 candle can close above that wick at 1.2710, then I'd probably choose bulls over bears, however that still hasn't happened.
  • #812,204
  • Edited 12:43pm Feb 27, 2024 12:31pm | Edited 12:43pm
GBP/USD Main Scenario (in my opinion)

Price will take a dive to the support at 1.246 which would be that manipulation phase and then I expect the price to start pushing for 1.32 (last MN resistance on the chart) which would finally be the last step, distribution phase.

As USD gets stronger, so does the exchange rate of USD/JPY starts heading up which provokes Japan into answering with intervention by dumping USD. Also, Feds rate cuts will slowly creep in which will further weaken the USD across the board.

Second scenario is pretty much almost the same, however in this one price would dive to another support at 1.22-1.215 and then start heading up.

*If bulls can take out the only resistance which seems to pose the problem at the moment, then we might not even witness any drop.
*EUR/USD resistance at 1.0895, AUD/USD 0.664, NZD/USD 0.62, USD/CAD price is currently just a hair below MN and W1 resistance (it's a different beast anyway), USD/CHF MN resistance at 0.882 and USD/JPY D1 is closing exactly above the support today, however W1 warns of potential bigger drop below 147.5.
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  • #812,205
  • Feb 27, 2024 12:41pm Feb 27, 2024 12:41pm
Quoting Whatevs
GBP/USD Main Scenario (in my opinion) Price will take a dive to the support at 1.246 which would be that manipulation phase and then I expect the price to start pushing for 1.32 (last MN resistance on the chart) which would finally be the last step, distribution phase. As USD gets stronger, so does the exchange rate of USD/JPY starts heading up which provokes Japan into answering with intervention by dumping USD. Also, Feds rate cuts will slowly creep in which will further weaken the USD across the board. Second scenario is pretty much almost the...
seems they keep pushing back the rate cuts so we might not see anything until June maybe even later
  • #812,206
  • Feb 27, 2024 12:41pm Feb 27, 2024 12:41pm
Went long from 2690. Talk about buying at resistance. TP 2750-60 area.
  • #812,207
  • Feb 27, 2024 12:42pm Feb 27, 2024 12:42pm
I love watching when My EA trading for me respecting all my rules
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People don't plan to lose. They lose because they don't plan.
  • #812,208
  • Feb 27, 2024 12:46pm Feb 27, 2024 12:46pm
Quoting Godspromise
{quote} seems they keep pushing back the rate cuts so we might not see anything until June maybe even later
I know... but one never knows if there could be something in the future that would force the Fed to start cutting sooner. I heard BTFP is ending in March... we'll see what awaits us haha.
  • #812,209
  • Feb 27, 2024 1:04pm Feb 27, 2024 1:04pm
Quoting 7154Superman
{quote} Wow navk, you're still doing better and better!! Yes, by all means stop before you get burned out. No amounts of money is worth getting killed by stress. Tomorrow is always another day to trade. My #8 Live account made it to +100% yesterday (Wednesday) (which was my goal for February), but I didn't gain any total account net equity since my -4% loss on Tuesday. I closed all my trades early yesterday and took 2 days off. Needed a break. Apparently, I was overtrading without realizing, and it was making my trading inefficient,...
Hello again!
So, I have been taking it slower with trading this week so far, and keeping things simple. Also busy with other things in real life.
But now, finally another bearish signal. I have 8 EUR/USD shorts in place. Let the dump begin. TP = 1.07. Hopefully it is achieved this week.
Oh, and I already did finish the +100% goal for 4 of my $100 Live accounts, reaching $200. And I did have the funds to invest another $200 in each of them, now starting with $400.
So, here goes. Good luck!
P.S. I will update my numbers soon here and on Trade Explorer.
You cannot fail if you never give up.
  • #812,210
  • Feb 27, 2024 1:19pm Feb 27, 2024 1:19pm
Quoting ScalaFX
I love watching when My EA trading for me respecting all my rules {image}
That is a pretty sweet return for one day!
  • #812,211
  • Feb 27, 2024 1:29pm Feb 27, 2024 1:29pm
Quoting dantpm
{quote} That is a pretty sweet return for one day!
thx Dan! This is agressive mode so this percentage can be done only for fun or testing, high leverage and high risk. Normaly 1% per day is satisfying for me
People don't plan to lose. They lose because they don't plan.
  • #812,212
  • Feb 27, 2024 1:30pm Feb 27, 2024 1:30pm
2680-60 is good place to take long and now Gold at 2030 too, I taken some little
People don't plan to lose. They lose because they don't plan.
  • #812,213
  • Feb 27, 2024 1:40pm Feb 27, 2024 1:40pm
Quoting ScalaFX
2680-60 is good place to take long and now Gold at 2030 too, I taken some little
26.80 should hold
  • #812,214
  • Feb 27, 2024 1:41pm Feb 27, 2024 1:41pm
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yes yes yes
  • #812,215
  • Feb 27, 2024 1:44pm Feb 27, 2024 1:44pm
Quoting Mitiblotch
Went long from 2690. Talk about buying at resistance. TP 2750-60 area.
Price dropped over 10 pips shortly after you entered long. Are you still long? I sense smart money wants to dump first like 100+ pips. Or maybe that's just EUR/USD.
You cannot fail if you never give up.
  • #812,216
  • Feb 27, 2024 1:45pm Feb 27, 2024 1:45pm
Quoting Zebi
{quote} {quote} im off to take my mother shopping....i took away and sold her car last year cause shes too old to drive anymore so i take her places...talk about an old lady getting mean when i did that LOL leaving my sell limits in hope i didnt make a mistake moving up my orders a little somebody shorted at 2690 so good luck to them
i see pretty much nothing happened while i was away

price hit 1.26951 on oanda but didnt fill me cause of the spread

depending on daily close if its red ill short asia and stay up late to short london

heres a GU 4H chart i captured this morning but forgot to post ...looks like starting to rollover
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short trump and go long the deepstate
  • #812,217
  • Feb 27, 2024 1:46pm Feb 27, 2024 1:46pm
heres the update


somebody mentioned accumulation earlier

ill have to respectfully disagree and say its distribution
the line at 2557 is my target
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short trump and go long the deepstate
  • #812,218
  • Feb 27, 2024 1:52pm Feb 27, 2024 1:52pm
im goin to watch happy days on tv...hope its a fonzi episode
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short trump and go long the deepstate
  • #812,219
  • Feb 27, 2024 1:56pm Feb 27, 2024 1:56pm
Quoting 7154Superman
{quote} Hello again! So, I have been taking it slower with trading this week so far, and keeping things simple. Also busy with other things in real life. But now, finally another bearish signal. I have 8 EUR/USD shorts in place. Let the dump begin. TP = 1.07. Hopefully it is achieved this week. Oh, and I already did finish the +100% goal for 4 of my $100 Live accounts, reaching $200. And I did have the funds to invest another $200 in each of them, now starting with $400. So, here goes. Good luck! P.S. I will update...
I closed 2 shorts with good profit near 1.084, which looks like a temporary support zone. Watching to see what happens next...
You cannot fail if you never give up.
  • #812,220
  • Feb 27, 2024 2:05pm Feb 27, 2024 2:05pm
Quoting 7154Superman
{quote} Price dropped over 10 pips shortly after you entered long. Are you still long? I sense smart money wants to dump first like 100+ pips. Or maybe that's just EUR/USD.
I'm still long. Tomorrow is Wednesday a favorite red/sell day. Also monthly pivot is 2690 which normally price shouldn't break above by the last few sessions of the month. The odds are stacked against my long but I have other reasons for the trade and I have a SL and have made peace already in case it hits.
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