Cable Update (GBPUSD)

Quoting Pat Chiko

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{quote} CABLE Where to TP. Anyone can help me here. I'm good at guessing only{image}

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Quoting MrFanciful

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Looks like DXY >= 99

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Quoting Headland

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{quote} Hi. Perhaps the downside target, the most obvious one at least, should be LWL? ------------------------------------------------------------------------------ G/M, more downside re the Uk data reaction, reversing Asian session direction, and a 1st downside b/o of first the AL then YL to a CDL/new CWL resulted. 4hr below {image}

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Quoting Headland

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I wrote this y/day for someone else, so thought I'd post it here; If you ever go into a trade and any of the following precedes that action, then you are probably doing nothing but guessing, and you do almost certainly do not have a trading edge in your chosen market (s) / t/f (s.) 1. It looks as though it might.... 2. I think it will..... 3. I expect it to..... 4. I predict that...... Now, it might even be an 'educated guess,' For eg; You may have observed/learnt/read that for example a bullish pinbar candle seems to experience an upside follow-thru,...

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Quoting MrFanciful

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{quote} Might be about to happen

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Quoting divine97

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To be honest, I’m surprised by how many people are trying to force a bullish narrative. It’s clear that the market is still in a bearish trend, and if it does go bullish for a bit, it will most likely grab liquidity from last week’s low, right where the demand zone sits.

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Quoting Bhatti1

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Quoting divine97

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.... It’s clear that the market is still in a bearish trend, ...

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Quoting divine97

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... it will most likely grab liquidity from last week’s low, right where the demand zone sits.

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Quoting Waveskierrob

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i still cant believe why people believe or not believe info on the internet is believable, its unbelievable... {image}

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Quoting MrFanciful

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{quote} People are still thinking that dollar is going to collapse. It's the prevailing view of very good investors etc who do interviews on the podcast circuit, but they are much longer term people, not day traders. I can see this continuing to 1.3285

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Quoting divine97

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{quote} Sure, but the dollar hasn't collapsed yet.

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Quoting MrFanciful

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{quote} The dollar will collapse in real terms against "things", as shown by the huge rise in precious metals, despite the correction in the last few days. However, given that the dollar is the WRC, when it collapses, how will that manifest against other currencies? It is actually reasonable to think that the DXY will rocket as the other currencies it's measured against fall at a faster rate.

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