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Cable Update (GBPUSD)

  • #840,161
  • Oct 1, 2024 10:33am Oct 1, 2024 10:33am
...back @ desk updating charts. The 'sell the rally' supply after the bounce up @ 3311 had kicked in before the U.s data came out (mixed,) and it saw a downside reaction to it, helping the sellers cause after the 3311-3332 p/back. Price @ the current dly lo (@/around the new Mthly Pivot) is in the 4hr part of the prev 1hr/4hr sw lo zone = pot supp that extends down to last wk's 3249 lo, and is coexistent with the wide (and the 3rd test of) prev 4hr sw hi zone = pot rbs that started 3297 and extends down to circa 3219/20. 3261-51 is a 3 fib cluster lower in it.

142% 30day adr traveled so far today. 4hr general uptrend looks like it's over, (for now at least?)

4hr below
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Trader with an Edge.
  • #840,162
  • Oct 1, 2024 10:39am Oct 1, 2024 10:39am
Quoting KareemAliFx
Loaded some gold buys middle eastern tensions escalating seems safe haven mode is on explains the dollar strength too
shouldnt you wait for a bigger dip? Am quite shit at gold trading so I'm just asking
  • #840,163
  • Oct 1, 2024 10:40am Oct 1, 2024 10:40am
Quoting JameRomeo168
{quote} Are you shorting now? Good luck brother
yeah the longs died a death.. took my weeks profits lol
Insane in the Brain..
  • #840,164
  • Edited 11:24am Oct 1, 2024 10:41am | Edited 11:24am
Quoting fontu
Though 3249 support but close sr 71 to see what , 3285 limit to try for support possible ! {image} {image}
my first target 13249 (ish)

had to take profit at 13277 correction seems to be in place
Insane in the Brain..
  • #840,165
  • Oct 1, 2024 10:45am Oct 1, 2024 10:45am
I closed all trades at the Pivot, 1.3272.

Now, unless World War 3 begins, I expect a bounce of maybe 50 to 60 pips.
Observation is the path to discovery.
  • #840,166
  • Oct 1, 2024 10:45am Oct 1, 2024 10:45am
Quoting Godspromise
{quote} shouldnt you wait for a bigger dip? Am quite shit at gold trading so I'm just asking
stop loss at 2623 I got room and risking profits so I’m good with the loss and will buy lower
Master your mind. Master Trading.
  • #840,167
  • Oct 1, 2024 10:46am Oct 1, 2024 10:46am
Quoting IgorGG
Expecting GBPUSD to peak around 1.3420 and then looking to short it at that level to AUG high of 1.3270 - this should play out in next 2 weeks
clean
  • #840,168
  • Oct 1, 2024 10:50am Oct 1, 2024 10:50am
Profit taken long till maybe 13310
Insane in the Brain..
  • #840,169
  • Oct 1, 2024 10:54am Oct 1, 2024 10:54am
Quoting W0lfram
{quote} hmm.. +sell 1.3354 (sl and time are not unlimited, just further than some can see)
+80, pullback coming, still 600 pips DD in total
(*saw demo prop commenting about sl*)
Air force
  • #840,170
  • Oct 1, 2024 11:01am Oct 1, 2024 11:01am
Quoting BeeTogether
{quote} yeah the longs died a death.. took my weeks profits lol
Do you think GU can drop below 1.32500? This is where bullish order block formed in late September.
With courage, patience, and discipline, success is a matter of time.
  • #840,171
  • Oct 1, 2024 11:09am Oct 1, 2024 11:09am
Quoting JameRomeo168
{quote} Do you think GU can drop below 1.32500? This is where bullish order block formed in late September.
it might do. However we could see a move up 20-50 pips before a further fall
Insane in the Brain..
  • #840,172
  • Edited 11:35am Oct 1, 2024 11:23am | Edited 11:35am
Quoting Headland
...back @ desk updating charts. The 'sell the rally' supply after the bounce up @ 3311 had kicked in before the U.s data came out (mixed,) and it saw a downside reaction to it, helping the sellers cause after the 3311-3332 p/back. Price @ the current dly lo (@/around the new Mthly Pivot) is in the 4hr part of the prev 1hr/4hr sw lo zone = pot supp that extends down to last wk's 3249 lo, and is coexistent with the wide (and the 3rd test of) prev 4hr sw hi zone = pot rbs that started 3297 and extends down to circa 3219/20. 3261-51 is a 3 fib cluster...

Like I've said before - it's a big wide pot rbs zone on 4hr 3298- circa 3219/20 and has held as rbs 3 times now, and this bounce up @ current dly lo is 4th test of it from above, as potential rbs. How much 'buy the dip' demand re dly/wkly general uptrends left in it if price tests lower? Wkly S2 is @/around 3165.

Speaking of 'buy the dip/sell the rally,' a pretty anemic bounce from current dly lo, and the market has indeed sold the rally if you call it that. (5min bearish hidden div,) even though has already traveled 142% of 30day adr today.

Anyone need any fibs,? plenty below


Downside fibs graphic, then 1hr below
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Trader with an Edge.
  • #840,173
  • Oct 1, 2024 11:28am Oct 1, 2024 11:28am
Quoting Godspromise
{quote} so you believe in the coming weeks and days for October November it's going to be bearish how far do you believe the trend will be?
Are you now able to see the near term bearish swing potential I saw before yesterday's dump? I saw this potential on Friday just before market closed for the week. Every signal I could see was lining up for a big dump and I got in on a short position and held it over the weekend just in case we get a gap down and it doesn't recover. It turns out that wasn't necessary, but you never know.
Now everybody is bearish, but I got my EUR/USD longs in now, set for 11.1 pips avg TP. Avg long position is 1.10729. TP = 1.1084
You cannot fail if you never give up.
  • #840,174
  • Oct 1, 2024 11:42am Oct 1, 2024 11:42am
Closed +241,5 pips

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Together we can be strongest
Vantage Return This Month: -97.0%
  • #840,175
  • Oct 1, 2024 11:44am Oct 1, 2024 11:44am
No buys here taken hit
Insane in the Brain..
  • #840,176
  • Oct 1, 2024 11:49am Oct 1, 2024 11:49am
Quoting ChiForex
We have an initial move to 1.3300 followed by a fall to 1.3140s in GU and toward 1.1030s with possible fall to 1.0850-70s in EU.
.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #840,177
  • Oct 1, 2024 11:56am Oct 1, 2024 11:56am
Quoting BeeTogether
{quote} it might do. However we could see a move up 20-50 pips before a further fall
Now it is already violated. I think your TP will be reached soon
With courage, patience, and discipline, success is a matter of time.
  • #840,178
  • Oct 1, 2024 12:01pm Oct 1, 2024 12:01pm
Quoting BeeTogether
No buys here taken hit
Stoploss triggered.

A bad call.
Market Structure is the King.....
  • #840,179
  • Oct 1, 2024 12:05pm Oct 1, 2024 12:05pm
I see GU chooses violent today. Looks like today is over to me. Bullish orderblock on M30 is violated. Tomorrow directional bias might be still bearish to me.
With courage, patience, and discipline, success is a matter of time.
  • #840,180
  • Oct 1, 2024 12:06pm Oct 1, 2024 12:06pm
price likely to bounce up from 3245
Intraday only.
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