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Cable Update (GBPUSD)

  • #831,521
  • Jul 5, 2024 3:37pm Jul 5, 2024 3:37pm
Quoting Konichiwhaat
Here we go, 15 minutes to pocket money night! Now you all know what you gotta do, right? You've ALL seen NFP reaction a hundred times now, right? And you have all back tested its historic reactions over years, right... right? $500 pocket money, please and thank you in advance
Madness.
Just got up early (5:30am in Japan) to close this flat for the weekend, hoping it would have hit TP already.
But not quite.
What should usually be a "$500 in 3 second" trade, ended up taking 8 hours!
A crazy, slow NFP reaction, but I'll take it. Getting of here right at the top.

Remember, Red Bull may give you wings, but it doesn't give you balls.

Have a great weekend everyone... back to bed
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Emotional Control. Process, not outcome.
  • #831,522
  • Jul 5, 2024 5:06pm Jul 5, 2024 5:06pm
devils in the detail
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #831,523
  • Jul 5, 2024 5:26pm Jul 5, 2024 5:26pm
Quoting ScalaFX
{quote} partials taken, protected best
close all now enough, GU underwater, will think next week what to do but I still see we hit year pivot around 1.2550, happy weekend
People don't plan to lose. They lose because they don't plan.
  • #831,524
  • Jul 5, 2024 7:44pm Jul 5, 2024 7:44pm
That big wick on yesterdays daily candle suggests bulls are going to push BTC higher now....could be wrong
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Don't Leave Money on the Table
  • #831,525
  • Edited Jul 6, 2024 5:48am Jul 5, 2024 7:49pm | Edited Jul 6, 2024 5:48am
Quoting ScalaFX
{quote} close all now enough, GU underwater, will think next week what to do but I still see we hit year pivot around 1.2550, happy weekend

Doesn't look like Cable is underwater and RSI suggests it could go higher before getting into the overbought area, same on weekly chart....

Weekly candle almost engulfed the last 4 weekly bear candles...
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Don't Leave Money on the Table
  • #831,526
  • Edited 9:34pm Jul 5, 2024 9:16pm | Edited 9:34pm
Quoting Bones
devils in the detail {image} {image}

how you doooin bones?

hope you had a nice holiday...its been slow around here

the thing about textbooks examples of candles is life doesn't read follow or obey textbooks

lots of different kinds of spinning top candles like the example in this link

I always thought the longer the wicks the stronger the signal
https://www.dailyfx.com/education/ca...op-candle.html

good that you're back
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short trump and go long the deepstate
  • #831,527
  • Jul 5, 2024 10:05pm Jul 5, 2024 10:05pm
strategy for next week
yes yes yes
  • #831,528
  • Jul 5, 2024 10:37pm Jul 5, 2024 10:37pm
Quoting Zebi
{quote} how you doooin bones? hope you had a nice holiday...its been slow around here the thing about textbooks examples of candles is life doesn't read follow or obey textbooks lots of different kinds of spinning top candles like the example in this link I always thought the longer the wicks the stronger the signal https://www.dailyfx.com/education/ca...op-candle.html good that you're back {image}
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?
  • #831,529
  • Jul 5, 2024 10:38pm Jul 5, 2024 10:38pm
Quoting Zebi
{quote} how you doooin bones? hope you had a nice holiday...its been slow around here the thing about textbooks examples of candles is life doesn't read follow or obey textbooks lots of different kinds of spinning top candles like the example in this link I always thought the longer the wicks the stronger the signal https://www.dailyfx.com/education/ca...op-candle.html good that you're back {image}

I know it's known as a spinning top candle but I would consider it an 'Indecision candle' biased to the sell side. The next candle is most definitely a bearish spinning top candle...
Don't Leave Money on the Table
  • #831,530
  • Jul 5, 2024 10:40pm Jul 5, 2024 10:40pm
Quoting Moty
strategy for next week

Yep that's my strategy too...
Don't Leave Money on the Table
  • #831,531
  • Edited 10:25am Jul 6, 2024 9:45am | Edited 10:25am
Quoting Zebi
{quote} how you doooin bones? hope you had a nice holiday...its been slow around here the thing about textbooks examples of candles is life doesn't read follow or obey textbooks lots of different kinds of spinning top candles like the example in this link I always thought the longer the wicks the stronger the signal https://www.dailyfx.com/education/ca...op-candle.html good that you're back {image}
no that's not a spinning top at all, those candles before are spinning top warnings of indecision, that education is wrong
a spinning top has a small body relative to the shadows, close is central to range
thats a long legged doji they highlight because those are very long wicks, very wide range
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #831,532
  • Jul 6, 2024 10:19am Jul 6, 2024 10:19am
The close is bullish.

I do not expect the price to fall on asia open.

I will be looking to long only for target r1.
Intraday only.
  • #831,533
  • Jul 6, 2024 10:56am Jul 6, 2024 10:56am
Looking to reenter long potentially if we get back to just below 128. Monday a quiet day from data perspective however as Americas were on holiday on Thursday we might see a move north from the date last week. Trying a 20-40 pip a day strategy to avoid caught in trades that take weeks/months
Insane in the Brain..
  • #831,535
  • Jul 6, 2024 11:38am Jul 6, 2024 11:38am
Quoting Pat Chiko
Hidden
im out so missing the football so now looking forward to Asian opening lol.
Insane in the Brain..
  • #831,536
  • Jul 6, 2024 11:49am Jul 6, 2024 11:49am
Quoting BeeTogether
{quote} im out so missing the football so now looking forward to Asian opening lol.
You are in the UK.

I was not surprised when Rishi sunak called for advancing elections.

The economy is down very badly there like any other european Nations or western Nations.

Rishi survived bigger term than Boris & Co.

Now, a chance ( challenge ) is offered by Rishi to Opposition to put UK onto rails back.

I highly doubt this can happen.

Rishi should have been elected again, as he is the only man who can repair the damage.
Intraday only.
  • #831,537
  • Jul 6, 2024 12:22pm Jul 6, 2024 12:22pm
Quoting BeeTogether
{quote} im out so missing the football so now looking forward to Asian opening lol.
does the pound rally if they win or lose?
in wondering about yourself, you forgot what you came here to be part of
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