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(GBP/USD Update) Billionaire's Club

  • #141
  • Dec 30, 2024 9:46am Dec 30, 2024 9:46am
Quoting Abeylyn
{quote} {image} Still waiting to see a retest of current support or breakout to downside .
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Market Structure is the King.....
  • #142
  • Dec 30, 2024 7:10pm Dec 30, 2024 7:10pm
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  • #143
  • Edited 10:03pm Dec 30, 2024 9:40pm | Edited 10:03pm
Quoting ThaoAnh
{image}
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Thao, your zone must be aligned with a structure on your left which indicates previous Support/Resistant Point. This previous support/resistant may be respected or broken.

See my own zone drawn on the same GBP/USD Daily Chart and compare with your own. Yours doesn't have a structure on the left.

Standard is that your zone must be aligned with a structure on your left. And the structure must be the immediate current structure.

If you are using technical indicator to identify your zone, it must also be aligned with structure on your left otherwise you are using the indicator wrongly.

Look at the previous example I gave you in this thread.


Also note that the same principle is applicable to all currency pair. USD/JPY, Gold, EUR/AUD etc.

Going forward, I will take your chart as your own method of drawing zone if you didn't adjust.

Goodluck.
Market Structure is the King.....
  • #144
  • Dec 31, 2024 4:30am Dec 31, 2024 4:30am
Quoting Abeylyn
{quote} {image} Still waiting to see a retest of current support or breakout to downside .
GU Short @ 1.2542 Stop 1.2577 1st Take profit 75 % of exposure @ 1.2512.

Good luck.

Time Stamped.
Market Structure is the King.....
  • #145
  • Dec 31, 2024 11:21am Dec 31, 2024 11:21am
Quoting Abeylyn
{quote} GU Short @ 1.2542 Stop 1.2577 1st Take profit 75 % of exposure @ 1.2512. Good luck. Time Stamped.
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Takeprofit achieved .

Stoploss move to break even on the remaining 25% Profit target @ 1.2480/93 or at anytime. No crossover trade.

Happy new year in advance to all friends and buddies.
Market Structure is the King.....
  • #146
  • Jan 3, 2025 9:22am Jan 3, 2025 9:22am
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  • #147
  • Jan 5, 2025 6:25pm Jan 5, 2025 6:25pm
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  • #148
  • Edited 10:09pm Jan 13, 2025 9:56pm | Edited 10:09pm
GBP/USD UPDATES 14/01/25

Price has bounced off the weekly support zone earlier stated to have a buffer of over 120 pips (Precisely 170 pips).

If the current Support can hold, the best is to look for Intraday Buy and take 1st profit at 1.2305/19 zone.

Have a nice day trading.

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Market Structure is the King.....
  • #149
  • Jan 14, 2025 2:54am Jan 14, 2025 2:54am
I will go short below 1.22000
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!! Radha Radha !!
  • #150
  • Jan 14, 2025 7:42am Jan 14, 2025 7:42am
Quoting suhas316
I will go short below 1.22000 {image}
This is 4 hr trend entry from swing.

The Short from Swing was successful against buyers that bought from weekly support....

Nice one.
Market Structure is the King.....
  • #151
  • Jan 14, 2025 7:43am Jan 14, 2025 7:43am
Quoting Abeylyn
GBP/USD UPDATES 14/01/25 Price has bounced off the weekly support zone earlier stated to have a buffer of over 120 pips (Precisely 170 pips). If the current Support can hold, the best is to look for Intraday Buy and take 1st profit at 1.2305/19 zone. Have a nice day trading. {image}
Under water with over 50 pips. Still hoping the weekly support will hold.
Market Structure is the King.....
  • #152
  • Jan 14, 2025 9:18am Jan 14, 2025 9:18am
[quote=Abeylyn;15115695]{quote} Under water with over 50 pips. Still hoping the weekly support will hold.[/quote

Jumped into GU buy again from 1.2169.

Hoping the weekly support could continue it's up run.
Market Structure is the King.....
  • #153
  • Jan 14, 2025 10:00am Jan 14, 2025 10:00am
Now long @ 1.21900
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!! Radha Radha !!
  • #154
  • Jan 14, 2025 6:33pm Jan 14, 2025 6:33pm
[quote=Abeylyn;15115865]
Quoting Abeylyn
{quote} Under water with over 50 pips. Still hoping the weekly support will hold.[/quote Jumped into GU buy again from 1.2169. Hoping the weekly support could continue it's up run.
Trade closed @ 42 pips profit.

Going to bed.
Market Structure is the King.....
  • #155
  • Jan 15, 2025 9:37am Jan 15, 2025 9:37am
Short @ 1.22700
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!! Radha Radha !!
  • #156
  • Jan 17, 2025 7:56am Jan 17, 2025 7:56am
Sold Gbp/Usd @1.21830
!! Radha Radha !!
  • #157
  • Jan 17, 2025 8:57am Jan 17, 2025 8:57am
1.22 area to watch for gu.

Short bias for me.
  • #158
  • Edited 12:31pm Jan 17, 2025 10:23am | Edited 12:31pm
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The daily and 4 hour trend is bearish in GU but price actions shows that market is ranging. This scenario is unusual and abnormal because there is always parity between Price Action and at least 4 hour trend.

The Support shown on my 2 hour chart represent a weekly support while the Resistant represent 4 hour trend resistant.

Best option is to look for Sell at 4 hour trend resistant zone or look for Buy at the support zone. If price breakout of the Resistant zone without given option to Buy from Support, wait for pullback and Buy. If price breakout of the Support Zone without option to Sell from Resistant, wait for pullback and Sell.

Obviously, Price is required to breakout of either the Support or Resistant zone.

The key requirement for traders is to be patient until price touches the Entry Zone or wait for pullback Incase of direct breakout of price failed to give opportunity for entry at Support or Resistant zone.

Good look and have a nice weekend.
Market Structure is the King.....
  • #159
  • Jan 17, 2025 11:24am Jan 17, 2025 11:24am
Next Week view....

GBP/USD's trend is down but it is in range between 1.22100 to 1.21700

if 1.21700 broken then my target is 1.21100

I will buy only above 1.22100

( * on chart I type by mistake 1.22000, correct level is 1.22100 )
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!! Radha Radha !!
  • #160
  • Jan 18, 2025 3:16am Jan 18, 2025 3:16am
Quoting Abeylyn
{image} The daily and 4 hour trend is bearish in GU but price actions shows that market is ranging. This scenario is unusual and abnormal because there is always parity between Price Action and at least 4 hour trend. The Support shown on my 2 hour chart represent a weekly support while the Resistant represent 4 hour trend resistant. Best option is to look for Sell at 4 hour trend resistant zone or look for Buy at the support zone. If price breakout of the Resistant zone without given option to Buy from Support, wait for pullback and Buy. If price...
Agree with your approach. The spike above 1.22 yesterday would have stopped out many. Multiple entries, calm, patience and risk management will be needed.
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