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Cable Update - Continued

  • #81
  • Feb 29, 2024 1:40pm Feb 29, 2024 1:40pm
Quoting Wavegarrick
Your GbpCad short trades should be looking good by now. Well done Bigive.
Quoting ninner
bigivian, i am looking at it as a long!!!
+50 pips is enough for now.
  • #82
  • Feb 29, 2024 3:59pm Feb 29, 2024 3:59pm
Quoting bigiivan
{quote} {quote} +50 pips is enough for now.
congrats, bigelven!!! Personally, i didnt touch it....I was in other trades that looked better!!!
  • #83
  • Mar 1, 2024 10:31am Mar 1, 2024 10:31am
Quoting Wavegarrick
{quote} Gu still bearish in my opinion. My main objective is always to get rid of weak trades as quick as possible and look for better trades. Swings are never easy and stops on all sides will be taken out before the intended direction is resumed. Trade well. {image}
Short trade in. Last for the week.
Have a great weekend.
Cheers
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  • #84
  • Mar 1, 2024 12:27pm Mar 1, 2024 12:27pm
Thanks also to everyone!
JEM
  • #85
  • Edited 11:54pm Mar 1, 2024 11:07pm | Edited 11:54pm
Quoting Wavegarrick
{quote} Short trade in. Last for the week. Have a great weekend. Cheers {image}
Hi Leon, with this rapid upward movement at NY session. i think that DXY is bearish for next week. might be GU will touch 1.28 - 1.29 area. although i'm not sure but DXY has no power to raise again even can't touch 105 again. we might see DXY drop to 102 area again.
  • #86
  • Mar 2, 2024 1:23am Mar 2, 2024 1:23am
Quoting hans91
{quote} Hi Leon, with this rapid upward movement at NY session. i think that DXY is bearish for next week. might be GU will touch 1.28 - 1.29 area. although i'm not sure but DXY has no power to raise again even can't touch 105 again. we might see DXY drop to 102 area again.
Hi Hans
You could well be right.
As per my 4hr chart Gu is trapped between 1.26950 and 1.26115 (black horizontal lines). If you go back on the chart you will see how price has reacted off these levels. this will be cucial for a test of either 1.28000 or 1.25000
The yellow highlighted area is pivotal and has served as support/resistance in the past.
For now I have it as a short, but if price has a 4hr close above the yellow highlighted area I will cut my shorts.
Personally it is a difficult area to trade and the best would actually be not to trade and wait for a beakout and 4hr close above or below and retest of the black horizontal lines.
Cheers.
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  • #87
  • Mar 2, 2024 10:24am Mar 2, 2024 10:24am
Quoting Wavegarrick
{quote} Hi Hans You could well be right. As per my 4hr chart Gu is trapped between 1.26950 and 1.26115 (black horizontal lines). If you go back on the chart you will see how price has reacted off these levels. this will be cucial for a test of either 1.28000 or 1.25000 The yellow highlighted area is pivotal and has served as support/resistance in the past. For now I have it as a short, but if price has a 4hr close above the yellow highlighted area I will cut my shorts. Personally it is a difficult area to trade and the best would actually be not...
Hi Leon, Anything can happen whether DXY bullish or bearish even i'm not sure it's bearish. just saw the yesterday movement as it's tricky to me. i could be wrong. but i'm personally being a fan of DXY bull for current market situation as inflation in US is still stubborn and hard to reach 2% also unemployment rate is still below 4% so no reason to fed to cut rates. we might see a real movement on friday next week as if unemployment increased many , this would send DXY drop to 102 area again.
  • #88
  • Mar 5, 2024 7:03am Mar 5, 2024 7:03am
I closed all current sell trades for 32 pips loss. I am starting to get bullish confirmation signals from a 4hr perspective. 1st buy trade in.
Trade safe.
Cheers.
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  • #89
  • Mar 5, 2024 11:07am Mar 5, 2024 11:07am
Buy trade added at 1.27086.
Cheers.
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  • #90
  • Mar 6, 2024 12:44am Mar 6, 2024 12:44am
Quoting Wavegarrick
Buy trade added at 1.27086. Cheers.
hi Leon, you're buying till 1.28 target as i mentioned in previous post?
or will hold longer to 1.29 even 1.3 ?
  • #91
  • Mar 6, 2024 2:24am Mar 6, 2024 2:24am
Quoting hans91
{quote} hi Leon, you're buying till 1.28 target as i mentioned in previous post? or will hold longer to 1.29 even 1.3 ?
Hi Hans,
I will hold for 1.30 and above. It's a sequence. Break of 1.2750 which is a mid-quarter level and we are in the final lap for the end of March. Break and retest of 1.2750 I will add another batch for weaker trade targets of 1.28 and hold the best trades for 1.30. Next, level break and retest of 1.2850 another batch and weaker trade targets for 1.2900 and hold the best trades for 1.30. This is how I carry on week after week to keep profits coming and build trades for the longer term. This is provided GU does not make a roundabout turn
Cheers.
Trade to trade another day
  • #92
  • Mar 6, 2024 3:18am Mar 6, 2024 3:18am
Quoting Wavegarrick
{quote} Hi Hans, I will hold for 1.30 and above. It's a sequence. Break of 1.2750 which is a mid-quarter level and we are in the final lap for the end of March. Break and retest of 1.2750 I will add another batch for weaker trade targets of 1.28 and hold the best trades for 1.30. Next, level break and retest of 1.2850 another batch and weaker trade targets for 1.2900 and hold the best trades for 1.30. This is how I carry on week after week to keep profits coming and build trades for the longer term. This is provided GU does not make a roundabout...
so according to your analysis Leon, at what price GU will touch to the max this year? just for estimation..
1.33 ? 1.34 even 1.36 ?

i see at monthly TF too that no matter when the time is, it will first try to reach 1.31xxx..
  • #93
  • Mar 6, 2024 6:39am Mar 6, 2024 6:39am
Quoting hans91
{quote} so according to your analysis Leon, at what price GU will touch to the max this year? just for estimation.. 1.33 ? 1.34 even 1.36 ? i see at monthly TF too that no matter when the time is, it will first try to reach 1.31xxx..
Hans,
First things first. 1.2750 is the crux for a breakout and hold by the end of this quarter. If 1.2750 goes I see no problem with a test of last year's high at 1.314.
1.314 for a re-test of 1.30 for a run-up to 1.34 which will equal last year's relatively small range of 1350 pips. Of course, this is all speculative at this point and I take it as it comes. Flipside, a quarterly break below 1.25 will call for 1.20.
Cheers.
Trade to trade another day
  • #94
  • Mar 6, 2024 11:50am Mar 6, 2024 11:50am
I am hoping for a strong follow-through at 1.2750 and a daily close or weekly close above 1.2750. A strong indication would be a test of 1.28 this week and pull back to 1.2750 for re-entry to show bullish intent. All buy trades are locked in.
Cheers.
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  • #95
  • Edited Mar 7, 2024 6:49am Mar 6, 2024 12:08pm | Edited Mar 7, 2024 6:49am
I'm fed up with this thread, I tried to help here but its falling on deaf ears, don't try to stop me...
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  • #96
  • Mar 7, 2024 11:26am Mar 7, 2024 11:26am
Waveskierrob,
I regret to inform you that your membership and participation in this thread has been (rewoked). Kindly see yourself through the backdoor.
Adios.
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  • #97
  • Mar 7, 2024 12:51pm Mar 7, 2024 12:51pm
Quoting Wavegarrick
I am hoping for a strong follow-through at 1.2750 and a daily close or weekly close above 1.2750. A strong indication would be a test of 1.28 this week and pull back to 1.2750 for re-entry to show bullish intent. All buy trades are locked in. Cheers. {image}
Nice bit of price action today. I can live with this
Well, the follow-through certainly is happening, and the daily close above 1.2750 is almost definite with a weekly close above imminent, we are at 1.2800 and I look at retraces towards 1.2750 as buy opportunities.
Trade Safe.
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  • #98
  • Mar 8, 2024 11:39am Mar 8, 2024 11:39am
The follow-through has been stronger than I anticipated, not that I am complaining. Nevertheless, I anticipate a correction back to my future weekly pivot at 1.27986 ish for possible buy trades and a target of 1.2950. I might take some contrarian sells next week.
Trade well and have a great weekend.
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  • #99
  • Mar 11, 2024 11:09am Mar 11, 2024 11:09am
Quoting Wavegarrick
The follow-through has been stronger than I anticipated, not that I am complaining. Nevertheless, I anticipate a correction back to my future weekly pivot at 1.27986 ish for possible buy trades and a target of 1.2950. I might take some contrarian sells next week. Trade well and have a great weekend. {image}
1st buy trade at my weekly pivot at 1.27975 minimum target 1.28500.
Cheers.
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  • #100
  • Mar 14, 2024 11:05am Mar 14, 2024 11:05am
Quoting Wavegarrick
The follow-through has been stronger than I anticipated, not that I am complaining. Nevertheless, I anticipate a correction back to my future weekly pivot at 1.27986 ish for possible buy trades and a target of 1.2950. I might take some contrarian sells next week. Trade well and have a great weekend. {image}
Hi Leon, with this current drop movement, do you think that GU has changed its trend to bearish again? this movement becomes tricky i think. if so, maybe we could see DXY up to 104 again.
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