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Cable Update (GBPUSD)

  • #838,361
  • Sep 17, 2024 5:32am Sep 17, 2024 5:32am
Back again around NYO time it’s a little bit slow now. Might have seen the sessions highs though
Insane in the Brain..
  • #838,362
  • Sep 17, 2024 5:40am Sep 17, 2024 5:40am
Quoting BeeTogether
Back again around NYO time it’s a little bit slow now. Might have seen the sessions highs though
Slow and steady fills the pot...
  • #838,363
  • Sep 17, 2024 5:42am Sep 17, 2024 5:42am
Quoting TheHusla
{quote} Next up GBPUSD LONGS Reason for trade as above. H1 nice push. Nice engulf from M5 zone. That wick on the left on H1 should get filled today. LN open push down for liquidity happened and then created a new HH signalling longs. Currently not sure about breakeven strategy, need to see how the trade develops as nothing obvious to the left. {image} {image}
Overall trade was fine, was always a chance it would retrace more but didn't seem likely at time of entry.
No point staying in at this stage as I'm not sure a 10 pips SL will hold. Better to take a small loss and look for other opps to enter.
I have a feeling this is just waiting for news in a few hours but I never enter before news so will see if there is any opp for longs to that H1 wick fill.
It's important to note that these partial losses of 1 or 2 pips are not significant. I need around 5 in a row for a full position loss and all my wins are around 17 pips for 1.5R including commissions.
The full position losses are a pain for sure but part and parcel of the game.

Partial Loss -
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  • #838,364
  • Sep 17, 2024 5:42am Sep 17, 2024 5:42am
Quoting Waveskierrob
{quote} Slow and steady fills the pot...
so far not even filling tea spoon lol
Insane in the Brain..
  • #838,365
  • Edited 6:16am Sep 17, 2024 6:01am | Edited 6:16am
...well y/day's hi met supply lower down in the prev 1hr/4hr/minor dly sw hi zone = pot res that extends up to 3238, and today's current dly hi similarly met supply. There are repeating patterns of bearish regular div on 5min, 30min, 1hr and 2hr there around that 85.4% fib of the 3266-3001 move in that zone. Any buy the dip attempt's chances of success may be subject to market's reaction to upcoming U.s retail sales data in 90mins or so?

1hr below
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Trader with an Edge.
  • #838,366
  • Sep 17, 2024 6:22am Sep 17, 2024 6:22am
Come on mister mf
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yes yes yes
  • #838,367
  • Sep 17, 2024 6:39am Sep 17, 2024 6:39am
For 9.pts atleast
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yes yes yes
  • #838,368
  • Sep 17, 2024 6:46am Sep 17, 2024 6:46am
Quoting Georginson
{quote} Should is a conditional word... Not certain. So no need over emphasizing on this. My bias is now bearish already close to the year top . I will start building short from 1.3230 all the way to 1.3330 for a target of 1.3000.
By the time you get that solid reason trade would have moved 200 pips
  • #838,369
  • Sep 17, 2024 7:12am Sep 17, 2024 7:12am
Quoting Headland
...... Any buy the dip attempt's chances of success may be subject to market's reaction to upcoming U.s retail sales data in 90mins or so? 1hr below {image}
The buy the dip attempt from the 1hr asc t/line has met more supply just below current dly hi in that pot res zone that extends up to 3238. Just over 15mins till U.s data.

1hr below
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Trader with an Edge.
  • #838,370
  • Sep 17, 2024 7:14am Sep 17, 2024 7:14am
Quoting Headland
{quote} The buy the dip attempt from the 1hr asc t/line has met more supply just below current dly hi in that pot res zone that extends up to 3238. Just over 15mins till U.s data. 1hr below {image}
this data could be very useful. However we’ve seen the US data being pushed aside which has me thinking maybe.. this might be similar
Insane in the Brain..
  • #838,371
  • Sep 17, 2024 7:23am Sep 17, 2024 7:23am
Quoting Moty
For 9.pts atleast {image}
Yes yes yes
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yes yes yes
  • #838,372
  • Sep 17, 2024 7:31am Sep 17, 2024 7:31am
Data seems mixed
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Insane in the Brain..
  • #838,373
  • Sep 17, 2024 7:31am Sep 17, 2024 7:31am
So automobiles are selling really welll?
in wondering about yourself, you forgot what you came here to be part of
  • #838,374
  • Sep 17, 2024 7:35am Sep 17, 2024 7:35am
price is really twitching up and down
im not touching this.
in wondering about yourself, you forgot what you came here to be part of
  • #838,375
  • Sep 17, 2024 7:37am Sep 17, 2024 7:37am
Quoting BeeTogether
Data seems mixed {image}
automobiles are the only category that kept sales positive.
Thats not good.
Its like a vendor lock.
I wonder if this will sink in at the NYO
in wondering about yourself, you forgot what you came here to be part of
  • #838,376
  • Sep 17, 2024 7:37am Sep 17, 2024 7:37am
Quoting Moty
For 9.pts atleast {image}
Ty
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yes yes yes
  • #838,377
  • Sep 17, 2024 7:40am Sep 17, 2024 7:40am
everything going the wrong way lol.
almost took an entry long on GU after news but decided to wait for candle close (always a wise decision) and was obvious longs are not favourable.
Whilst it seems to be bearish today after news, there is zero HTF bias for shorts so will sit on the side-lines for now.
First H1 close and H4 close in 20 mins will be interesting...........
  • #838,378
  • Sep 17, 2024 7:41am Sep 17, 2024 7:41am
Quoting knkie
{quote} automobiles are the only category that kept sales positive. Thats not good. Its like a vendor lock. I wonder if this will sink in at the NYO
yup… a bit limbo right now. So far haven’t broken the days high unless it’s something NYO will do. We are close to the days lows this could breach easily to open a lower area
Insane in the Brain..
  • #838,379
  • Edited 8:36am Sep 17, 2024 7:59am | Edited 8:36am
Н4 (Heavy)is going down.Where it goes i dont know.H1 was up,still up,should return.wait h1 go down.
i only think,now daily up,but it can return to down on daily if it goes like this,in this way target can be 1.23-120,any target,if daily return.
h1 can be new high,not now,maybe tomorrow.
H4 arrow down,H1 not arrow down.Wait it returns to high
it can be around 132500 potencial
  • #838,380
  • Sep 17, 2024 8:11am Sep 17, 2024 8:11am
Quoting TheHusla
{quote} I would tend to agree. To me, it looks like it might go for liquidity at 1.32388. Big Supply zone that we reached yesterday hasn't managed to cause any significant break of structure yet. Not even a push down for liquidity (my trade yesterday). Previous daily candles still pushing strong. I know I went short yesterday but it was an exception, not my usual style of trading. H4+ looks massively bullish yet to me.....
It has been a strong battle but how were you able to identify 1.3238 as a possible liquidity point ? I mean is there any technical evidence ?

Thanks.
Market Structure is the King.....
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