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Cable Update (GBPUSD)

  • #837,301
  • Sep 6, 2024 3:23am Sep 6, 2024 3:23am
Checking pa , waiting for signal 3172 breaks hold / m30 to h5 close below for correction start ! Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #837,302
  • Sep 6, 2024 3:38am Sep 6, 2024 3:38am
Quoting Headland
...so the prev sw hi's = pot rbs give way, and the 1st upside b/o's of Asian hi and y/day hi prove false, (most 1st b/o's of anything are false.) Steepest 1hr asc t/line also gives way. Now challenging a prev 1hr minor sw lo zone = pot supp. 1hr below {image}
...I changed that, on closer examination, to a prev 30min sw lo zone which now = pot sbr. I also had Asian lo in wrong place lol! Anyways, a 1st downside break of it now.

1hr below
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Trader with an Edge.
  • #837,303
  • Sep 6, 2024 3:46am Sep 6, 2024 3:46am
Quoting Headland
{quote} ...I changed that, on closer examination, to a prev 30min sw lo zone which now = pot sbr. I also had Asian lo in wrong place lol! Anyways, a 1st downside break of it now. 1hr below {image}
ideally 30 pips below days opening before the data. That gives enough levels for a SL if the data is to go down (spikes etc) if going up 30 pips below the days opening +20 could be enough to withstand any stupid spikes
Insane in the Brain..
  • #837,304
  • Sep 6, 2024 3:49am Sep 6, 2024 3:49am
...so immediate and longer-term post NFP data release market reaction depends on so much. It is of course mainly the Headline # and it's relationship to the previous and forecasts, but it is also revisions to previous headline #'s, and un-emp rate, that can affect the market's reaction to it.

As usual, I won't get involved until at least the 1st post data release 1min candle has closed - and only if it's an inviting close (generally look for a momentum 'thrust' close) to enter the market on, but only if the R:R stacks up in terms of the 1st PPA (potential problem area) that might be an obstacle to it. My favored tactics are the aforegoing, followed by the buy/sell the 1st lo/hi, and sell/buy the 1st p/back. But this is dependent on PA and my edge setting up, and a definite one-way reaction to it.

Remember if getting involved, to trade what you see not what you think. The market doesn't care what we think. And 'flat' is a position if unsure, - it's not compulsory!
Trader with an Edge.
  • #837,305
  • Sep 6, 2024 3:50am Sep 6, 2024 3:50am
Quoting desifxtrader
{quote} which one are you using for 2+ years with no major issue ?
Global Prime and Pepperstone. You just don't choose too high leverage. For me 1:200 Max leverage is considered best already.
With courage, patience, and discipline, success is a matter of time.
  • #837,306
  • Sep 6, 2024 3:54am Sep 6, 2024 3:54am
Quoting Pat Chiko
{quote} GU Daily On the daily time frame, I have applied my Fibonacci retracement levels, as I anticipate this current movement to be a Wave A, followed by a potential upward movement forming Wave B. However, the move up appears quite strong, and with the upcoming nonfarm payroll data release today, I would typically expect a clear ABC correction. {image} Yet, given the steepness of the current upward movement, it seems less like a corrective wave and more like a continuation of the trend, which makes sense, as we are in Wave 3 on the higher time...
Great Pat, your reasoning is flawless. Any view on Gold?
  • #837,307
  • Sep 6, 2024 4:01am Sep 6, 2024 4:01am
yes yes yes
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yes yes yes
  • #837,308
  • Sep 6, 2024 4:08am Sep 6, 2024 4:08am
...price has arrived @ top of the 4hr part of a prev 1hr/4hr sw lo zone = pot supp, this coexistent with and 1st test y/day of a prev 1hr/4hr (4hr part) sw hi zone = pot rbs.

4hr/1hr below
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Trader with an Edge.
  • #837,309
  • Sep 6, 2024 4:09am Sep 6, 2024 4:09am
took also short eu
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yes yes yes
  • #837,310
  • Sep 6, 2024 4:10am Sep 6, 2024 4:10am
Quoting Yngwie
Sold 1.3182
closed 22p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #837,311
  • Sep 6, 2024 4:18am Sep 6, 2024 4:18am
Hello world! Good morning, good evening, or g'day.
I haven't placed my bet.
  • #837,312
  • Sep 6, 2024 4:20am Sep 6, 2024 4:20am
Quoting Moty
took also short eu
my sl is ur profit
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merda taurorum animas conturbit
  • #837,313
  • Sep 6, 2024 4:25am Sep 6, 2024 4:25am
let's go for 10 pips
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yes yes yes
  • #837,314
  • Sep 6, 2024 4:30am Sep 6, 2024 4:30am
That move could be the lows of the session at least until we see the NFP data.
Insane in the Brain..
  • #837,315
  • Sep 6, 2024 4:31am Sep 6, 2024 4:31am
...only 62% of 13wk (1/4 yr) awr traveled so far this week on this last trading day of week, so I guess the wkly candle (currently bullish-bodied) could close as anything.

wkly below
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Trader with an Edge.
  • #837,316
  • Sep 6, 2024 4:41am Sep 6, 2024 4:41am
Quoting Moty
let's go for 10 pips {image}
0-1 to the crooks
let's do this again mf
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yes yes yes
  • #837,317
  • Sep 6, 2024 4:50am Sep 6, 2024 4:50am
Bought 1.3170; SL 1.3148 (22 pips); TP 1.3234 (64 pips)
  • #837,318
  • Sep 6, 2024 4:59am Sep 6, 2024 4:59am
Quoting Headland
...price has arrived @ top of the 4hr part of a prev 1hr/4hr sw lo zone = pot supp, this coexistent with and 1st test y/day of a prev 1hr/4hr (4hr part) sw hi zone = pot rbs. 4hr/1hr below {image}
So, demand encountered there.

1hr below
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Trader with an Edge.
  • #837,319
  • Sep 6, 2024 5:04am Sep 6, 2024 5:04am
Quoting elude
Bought 1.3170; SL 1.3148 (22 pips); TP 1.3234 (64 pips)
I did similar, could be a good RR. However NFP could be messy
Insane in the Brain..
  • #837,320
  • Sep 6, 2024 5:10am Sep 6, 2024 5:10am
Quoting BeeTogether
{quote} I did similar, could be a good RR. However NFP could be messy
i think we will see 1.308X base weekly chart.
With very good nfp numbers 1.293
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