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Cable Update (GBPUSD)

  • #829,581
  • Jun 14, 2024 4:51am Jun 14, 2024 4:51am
...bears will have been encouraged to get downside of 1st the Asian lo, then Y/day's lo, but there has previously been significant support initially down to 2675 as mentioned, (and per 4hr and dly charts posted earlier,) and so demand came in again @ 2692 current dly lo. It's the 2nd false downside b/o (just) of last week's lo, but this week's current wkly lo (the 1st false downside b/o of last week's lo) remains intact for now. For anyone holding long for a cricket score - beware the 'sell the rally' types on 15min + bearish hidden div!

1hr below
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Trader with an Edge.
  • #829,582
  • Jun 14, 2024 4:52am Jun 14, 2024 4:52am
The pair have been bouncing off these areas since the initial drop has slowed down. I personally wouldn't take a trade in this zone as it is more of trap. NYO could provide a better picture. There is some data at 3pm UK time which may add to the PA, however I am not sure if the impact will be as useful, if the current PA remains bearish then a weak US data read at 3pm may push it up a bit but the trend continues. If NYO allows a breakout towards 12730-40 then a poor data will give it fuel to take back towards the days opening.

For my trades, a close below 127 would be ideal especially with BoE next week. whilst there maybe no cut 3 or more voting for a cut with be dovish could send us to the 12450 zone
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Insane in the Brain..
  • #829,583
  • Jun 14, 2024 4:57am Jun 14, 2024 4:57am
Quoting Waveskierrob
SHORT GU 1.2782, no sl tp HELL...
Still trying to hitchhike my way to hell...
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  • #829,584
  • Jun 14, 2024 5:01am Jun 14, 2024 5:01am
...I looked again @ the downside fibs and realised I had missed a 4hr move up, so I added it's remaining fib retraces into the graphic I posted earlier. It now makes for 2 x 3 fib clusters, ie 2652-43, and 2603-2592. It is below.

Downside fibs graphic
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Trader with an Edge.
  • #829,585
  • Jun 14, 2024 5:03am Jun 14, 2024 5:03am
Sold gold @ 2332

very risky but gotta go with my chart
no sl atm, we will see how current hour close to decide.
  • #829,586
  • Jun 14, 2024 5:10am Jun 14, 2024 5:10am
Quoting Moty
You shell not pass 2230 mf Next stop 2317
Crooky squeeze mf
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yes yes yes
  • #829,587
  • Jun 14, 2024 5:11am Jun 14, 2024 5:11am
Quoting evansabove57
I have a long position on GU targeting Asian highs(if we get there). Waiting for NY to show some pressure to the upside. {image}
SL hit
Just another trader in drawdown... Volume Profiles & PA
  • #829,588
  • Jun 14, 2024 5:12am Jun 14, 2024 5:12am
yes, my gbp/usd SL hit and am stay out for now.
bakare
  • #829,589
  • Jun 14, 2024 5:13am Jun 14, 2024 5:13am
GU bears, slow but effective.

im not trading this pair today due to major supports on higher TF.. i will be happy if GU trash them.

lets go $
as i posted yesterday $ is about to be bullish on daily
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  • #829,590
  • Jun 14, 2024 5:23am Jun 14, 2024 5:23am
Quoting Whale
GU bears, slow but effective. im not trading this pair today due to major supports on higher TF.. i will be happy if GU trash them. lets go $ as i posted yesterday $ is about to be bullish on daily {image}
107 would be circa 126-12550 I suppose.
Insane in the Brain..
  • #829,591
  • Jun 14, 2024 5:27am Jun 14, 2024 5:27am
Quoting Yngwie
long 1.2686
its no brainer for month.. good luck..
dollar is strong.
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  • #829,592
  • Jun 14, 2024 5:27am Jun 14, 2024 5:27am
Quoting BeeTogether
{quote} 107 would be circa 126-12550 I suppose.
you must reveal how do you calc it?
1.26 very reasonable imo.. maybe today?
  • #829,593
  • Jun 14, 2024 5:29am Jun 14, 2024 5:29am
My longs underwater but I dont care while my shorts are heavier so still make money
People don't plan to lose. They lose because they don't plan.
  • #829,594
  • Jun 14, 2024 5:32am Jun 14, 2024 5:32am
Watching GU go down with BIG FOMO from the sidelines. Sometimes it hurts sticking to your plan
  • #829,595
  • Jun 14, 2024 5:36am Jun 14, 2024 5:36am
Quoting ScalaFX
My longs underwater but I dont care while my shorts are heavier so still make money
there is no buy at all since 13 th june in my chart.

sell entry from 1.2790
Intraday only.
  • #829,596
  • Jun 14, 2024 5:41am Jun 14, 2024 5:41am
Quoting navk
{quote} there is no buy at all since 13 th june in my chart. sell entry from 1.2790

You entered long last Asian session.
  • #829,597
  • Jun 14, 2024 5:42am Jun 14, 2024 5:42am
Quoting Headland
....... For anyone holding long for a cricket score - beware the 'sell the rally' types on 15min + bearish hidden div! 1hr below
...1st downside b/o of the then current wkly lo, Wkly S1 reached @ current dly lo @ 118% of 13wk awr and 137% 30day adr in a prev 1hr minor sw hi zone from 17th may earlier this year, = prev res = pot rbs.

Bears wanted it more off the 15min bearish hidden div after the p/back.

1hr then 4hr below
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Trader with an Edge.
  • #829,598
  • Jun 14, 2024 5:44am Jun 14, 2024 5:44am
Possibility of long from 1.2669
Intraday only.
  • #829,599
  • Jun 14, 2024 5:45am Jun 14, 2024 5:45am
Quoting Whale
{quote} You entered long last Asian session.
Yeah, I do trade retracements.

But if it does not work out, i take losses. Do not care to accept loss.

I never sleep onto trades

That is how, I survive in this market.
Intraday only.
  • #829,600
  • Jun 14, 2024 5:52am Jun 14, 2024 5:52am
Quoting ScalaFX
My longs underwater but I dont care while my shorts are heavier so still make money
Love it, my type of trading...
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