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Cable Update (GBPUSD)

  • #826,461
  • May 20, 2024 2:06pm May 20, 2024 2:06pm
Quoting Traderview
gbpjpy sell @ 198.5 tp 196. tomorrow get ready for the sells. Likely going to test 197.70. I’m expecting a red candle. let’s see.
GU only here
  • #826,462
  • May 20, 2024 2:21pm May 20, 2024 2:21pm
Quoting Wavegarrick
{quote} Waiting for a test of 1.2750 and above. The descending trendline is a must for bulls to overcome. Cheers. {image}
I am sorry, Leon, but I will take other direction- start biulding shorts.
First sell GBP/USD at 1,2710.
No SL and TP.

Wish you luck, brother!
  • #826,463
  • May 20, 2024 2:49pm May 20, 2024 2:49pm
Quoting thevisitor
{quote} GU only here
And drama
People don't plan to lose. They lose because they don't plan.
  • #826,464
  • May 20, 2024 3:03pm May 20, 2024 3:03pm
Quoting ScalaFX
{quote} And drama
Intraday only.
  • #826,465
  • May 20, 2024 3:04pm May 20, 2024 3:04pm
Quoting thevisitor
{quote} GU only here
Drama only here.

No GU, No GJ.

lol
Intraday only.
  • #826,466
  • Edited 8:06pm May 20, 2024 4:05pm | Edited 8:06pm
Quoting Wavegarrick
{quote} Waiting for a test of 1.2750 and above. The descending trendline is a must for bulls to overcome. Cheers. {image}
bulls are not too worried about that TL. The main checkpoint is the TL above at around 2975-80 weekly resistance area. Bears beware.
Compulsions can be hard to resist
  • #826,467
  • May 20, 2024 4:16pm May 20, 2024 4:16pm
Quoting ScalaFX
{quote} And drama
what's your problem?
Gold- Gold thread
Gy- Gy thread
Eu- Eu thread
  • #826,468
  • May 20, 2024 4:20pm May 20, 2024 4:20pm
Quoting thevisitor
{quote} what's your problem? Gold- Gold thread Gy- Gy thread Eu- Eu thread
I have No problem men, at all
People don't plan to lose. They lose because they don't plan.
  • #826,469
  • May 20, 2024 6:02pm May 20, 2024 6:02pm
Quoting bigiivan
{quote} I am sorry, Leon, but I will take other direction- start biulding shorts. First sell GBP/USD at 1,2710. No SL and TP. Wish you luck, brother!
1.2667 looks like the most likely price to be touched this week... Expected range for this month is 350 - 400 pips which means 1.2785 or 1.2275. The bulls
will be more confident about 1.2785 area which looks like a good zone to start building shorts all the way to 1.2840 axis, as rate by then would have been overstretched.
Data + Stat + Risk/Emotions Management
  • #826,470
  • May 20, 2024 6:06pm May 20, 2024 6:06pm
GU LONG
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My telegram: https://t.me/avidforex
  • #826,471
  • May 20, 2024 6:27pm May 20, 2024 6:27pm
Quoting navk
{quote} This is why i was disappointed to take short and get stopped out. You can see the imbalance in price above 2680 to 2694 which suggest...only long entry possible. {image}
Hey Navk.

Can you explain the concept of "imbalance in price"?
How can price of a pair be balanced or imbalanced and compared to what it is imbalanced?

Thanks.
  • #826,472
  • Edited 6:54pm May 20, 2024 6:37pm | Edited 6:54pm
Quoting OutThere
{quote} Hey Navk. Can you explain the concept of "imbalance in price"? How can price of a pair be balanced or imbalanced and compared to what it is imbalanced? Thanks.
when there is sudden sell voloume or buy volume, the price makes imbalance.

The price creates a gap.

After sudden volume, the price fills up ( tries to fill up ) the gap created.

This is called balancing.
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Intraday only.
  • #826,473
  • May 20, 2024 6:55pm May 20, 2024 6:55pm
Quoting navk
{quote} when there is sudden sell voloume or buy volume, the price makes imbalance. The price creates a gap. After sudden volume, the price fills up ( tries to fill up ) the gap created. This is called balancing.
Ok, so Gap then. Alright thanks.
  • #826,474
  • May 20, 2024 7:00pm May 20, 2024 7:00pm
The definition of imbalance/balance is easily available thro search engine.

How to trade this ?

In larger time frame when there is interest rate decicion, the price makes a spike / drops and thus making a bullish imbalance or bearish imbalance.

There after, the price tries balancing act.

The price tries to fill up the gap and moves in same direction or opposite direction.

The move after sudden volume can be traded by following smaller time frame chart by seeing gaps.
Intraday only.
  • #826,475
  • May 20, 2024 9:12pm May 20, 2024 9:12pm
GU

SHORT set up
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #826,476
  • May 20, 2024 9:15pm May 20, 2024 9:15pm
Quoting sparkyyy
Likely going to test 1.27230 again before retrace.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #826,477
  • May 20, 2024 9:16pm May 20, 2024 9:16pm
Quoting BigNumbers
GU LONG {image}
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #826,478
  • May 20, 2024 9:24pm May 20, 2024 9:24pm
The bearish volume ( imbalance ) created during NY session is marked in my chart.

As somewhere else I posted, i did not take the sell entry at 2 pm est that time.

Though, i was late, i took short in asia and as per sell volume created.

Trade going well.

I will not hold this for long time, as there is buy line approaching.
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Intraday only.
  • #826,479
  • May 20, 2024 10:45pm May 20, 2024 10:45pm
Quoting Georginson
{quote} 1.2667 looks like the most likely price to be touched this week... Expected range for this month is 350 - 400 pips which means 1.2785 or 1.2275. The bulls will be more confident about 1.2785 area which looks like a good zone to start building shorts all the way to 1.2840 axis, as rate by then would have been overstretched.
Thanks, G.!
I think I can hold till 1,2840.
  • #826,480
  • May 20, 2024 10:49pm May 20, 2024 10:49pm
Quoting Yngwie
sold 1.2717
Still short?
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