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Cable Update (GBPUSD)

  • #832,401
  • Jul 15, 2024 9:37pm Jul 15, 2024 9:37pm
Checking pa , with d top now ranges down same as before 2900.
Will wait for better signal as per lower tf , breaks and hold 2957 or just over 2977 may act blindly ..take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #832,402
  • Jul 15, 2024 10:21pm Jul 15, 2024 10:21pm
Quoting navk
Almost every one was wrong in spotting levels in GU today or ( every day? )
nearly every day.

i know that all here and i know nothing;-)
trading is like dancing, don't think and just listen to the music!
  • #832,403
  • Jul 15, 2024 10:40pm Jul 15, 2024 10:40pm
Quoting navk
Almost every one was wrong in spotting levels in GU today or ( every day? )
I wasn't wrong. I shorted at 1.29893

To me, that's one of the best entries.

I consider the market overbought and was expecting a retracement.
  • #832,404
  • Jul 15, 2024 11:03pm Jul 15, 2024 11:03pm
Quoting Jackoboms
{quote} I wasn't wrong. I shorted at 1.29893 To me, that's one of the best entries. I consider the market overbought and was expecting a retracement.
I try again at what price was the market overbought and who decides the price, you or someone else, thanks in advance...
  • #832,405
  • Jul 15, 2024 11:06pm Jul 15, 2024 11:06pm
im gona buy in this area on hourly GU
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short trump and go long the deepstate
  • #832,406
  • Jul 15, 2024 11:14pm Jul 15, 2024 11:14pm
Quoting Waveskierrob
{quote} I try again at what price was the market overbought and who decides the price, you or someone else, thanks in advance...
You seem not to understand my point about overbought and I will keep using that term when I want to

The point that I consider overbought is a psychological level where you and I expect retracement/ reversal.

It doesn't mean the market can't push higher. It is a technical point or level we expect some consolidation and then retracement.

It doesn't necessarily mean you must take entries at that very point. In fact, when you see traders like you begin to take entries and average out if it goes further, then you think it's overbought, but you do not acknowledge the term, but that's what I am talking about.

Same way some people feel there are no such things as support and resistance, I won't argue with those who feel the term overbought shouldn't be used, but I will use it.

Peace .
  • #832,407
  • Jul 15, 2024 11:34pm Jul 15, 2024 11:34pm
took short gj
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yes yes yes
  • #832,408
  • Jul 15, 2024 11:40pm Jul 15, 2024 11:40pm
Quoting Jackoboms
{quote} You seem not to understand my point about overbought and I will keep using that term when I want to The point that I consider overbought is a psychological level where you and I expect retracement/ reversal. It doesn't mean the market can't push higher. It is a technical point or level we expect some consolidation and then retracement. It doesn't necessarily mean you must take entries at that very point. In fact, when you see traders like you begin to take entries and average out if it goes further, then you think it's overbought, but you...
Thanks for reply, you are correct I didn't understand, call me old fashion but if I don't understand something I ask questions, you said "You and I".... I don't have a psychological level, correct me if I'm wrong but you're saying that overbought is just a personal psychological level only determined by one person ok, as for keep using overbought yes you are free to do so, ps could everyone please refer me to they/them as they are my new pronouns.....
  • #832,409
  • Jul 15, 2024 11:48pm Jul 15, 2024 11:48pm
ok , below 2957 but signal 2948 may still react. better breaks and back though for over 72/77 having signal bounce price breaks up 2961. so zigzag scalping ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #832,410
  • Jul 15, 2024 11:48pm Jul 15, 2024 11:48pm
Quoting Waveskierrob
{quote} Tha is for reply, you are correct I didn't understand, call me old fashion but if I don't understand something I ask questions, you said "You and I".... I don't have a psychological level, correct me if I'm wrong but you're saying that overbought is just a personal psychological level only determined by one person ok, as for keep using overbought yes you are free to do so, ps could everyone please refer me to they/them as they are my new pronouns.....
Alright bro.

I believe you understand my explanation, but if you don't, I am also cool, as I am here for healthy friendships, relationships and learning. But I maintain my stand that I will keep using the term OVERBOUGHT.

Also, I believe the terms Elliot wave, Top down analysis and even trend and trend lines weren't manufactured in heaven neither did you or anyone egested it from their anus. It was a term from traders.

There are traders who use the term overbought and I am one of them. Doesn't make me a loser in my trades.

Bottom line is we are here to make money.

Reject or Accept certain terms, if one isn't profitable, then those terms aren't as relevant.

I will keep using the term OVERBOUGHT bro, and I have explained it already.

Thanks!
  • #832,411
  • Jul 15, 2024 11:58pm Jul 15, 2024 11:58pm
Quoting Jackoboms
{quote} Alright bro. I believe you understand my explanation, but if you don't, I am also cool, as I am here for healthy friendships, relationships and learning. But I maintain my stand that I will keep using the term OVERBOUGHT. Also, I believe the terms Elliot wave, Top down analysis and even trend and trend lines weren't manufactured in heaven neither did you or anyone egested it from their anus. It was a term from traders. There are traders who use the term overbought and I am one of them. Doesn't make me a loser in my trades. Bottom line is...
Never said anything about you using the term "overbrought" just asked you what the critira was, which you have answered with " it being a personal psychological level" if you can show me a post where I've said that you can't use the term "overbrought" I will gladly eat humble pie ....
  • #832,412
  • Jul 16, 2024 12:06am Jul 16, 2024 12:06am
Quoting Jackoboms
{quote} Alright bro. I believe you understand my explanation, but if you don't, I am also cool, as I am here for healthy friendships, relationships and learning. But I maintain my stand that I will keep using the term OVERBOUGHT. Also, I believe the terms Elliot wave, Top down analysis and even trend and trend lines weren't manufactured in heaven neither did you or anyone egested it from their anus. It was a term from traders. There are traders who use the term overbought and I am one of them. Doesn't make me a loser in my trades. Bottom line is...
well said ! surely at an extreme . time specific as shown in daily tf , weekly not/ intermediate daily to monthly , monthly just start to be bought next . so all relative .take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #832,413
  • Jul 16, 2024 12:17am Jul 16, 2024 12:17am
Quoting Georginson
{quote} Sold GU at 1.2960... target 1.2900... second sell limit at 1.3000 ... Target 1.2930... all stop at 1.3040
Closed at break even.. no enough sellers. I will sell at 1.3020 area for 100 pips.
Data + Stat + Risk/Emotions Management
  • #832,414
  • Jul 16, 2024 12:56am Jul 16, 2024 12:56am
approaching 2972/77 . and probable pa next . about to close long scalping and will watch failure above those level to short again ! next support 2961/2 signal, take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #832,415
  • Jul 16, 2024 1:02am Jul 16, 2024 1:02am
G/M. Ridiculiously small pip range y/day (33pips,) and a gravestone doji dly candle resulted down from the top of the prev 4hr/dly sw hi zone that extends up to 2995, = prev res. Today so far, Asia down, a false 1st upside b/o of the asian hi in early london trading. Asian lo is presently the current dly lo.

1hr below
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Trader with an Edge.
  • #832,416
  • Jul 16, 2024 1:31am Jul 16, 2024 1:31am
Quoting Headland
G/M. Ridiculiously small pip range y/day (33pips,) and a gravestone doji dly candle resulted down from the top of the prev 4hr/dly sw hi zone that extends up to 2995, = prev res. Today so far, Asia down, a false 1st upside b/o of the asian hi in early london trading. Asian lo is presently the current dly lo. 1hr below {image}
Hoping today has more movement
Insane in the Brain..
  • #832,417
  • Jul 16, 2024 1:40am Jul 16, 2024 1:40am
BUY GJ here at 205.60

Bit too late, but it is still good buy.
  • #832,418
  • Jul 16, 2024 1:49am Jul 16, 2024 1:49am
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yes yes yes
  • #832,419
  • Jul 16, 2024 1:52am Jul 16, 2024 1:52am
FX Street, has similar thinking to a lot of folk here, 130-131 resistance, 129 first area of support to maybe 12830, which if it drops that far 128 could be overshoot in my opinion

GBP/USD Forecast, News and Analysis (Pound Sterling and US Dollar) - FXStreet
Insane in the Brain..
  • #832,420
  • Jul 16, 2024 2:10am Jul 16, 2024 2:10am
...there is a pattern of 2hr bullish hidden div @ asian/current dly lo, which may stay valid on any deeper drop, so long as price stays above 2902. It may develop on 4hr, but not present yet.

So far this week that 1st false upside b/o of last week's hi, and a small pip range. 4hr and dly general uptrend intact with some rangy consolidation on 1hr. 2 x false downside break of y/day's lo so far today.

4hr/1hr below
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Trader with an Edge.
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