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Cable Update (GBPUSD)

  • #874,961
  • Jun 3, 5:08pm (20 hr ago) Jun 3, 5:08pm (20 hr ago)
Quoting TooSlow
{image} Where did the volatility go?
I believe the volatility is low because price is in a kin of a triangle as shown on the chat.
This kind of chart pattern wastes a lot of time before it resolves
I too found it very slow with odd movements or lack of it attimes.
I am still looking lower though.
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If you think you can or cannot do it you are correct
  • #874,962
  • Jun 3, 9:39pm (16 hr ago) Jun 3, 9:39pm (16 hr ago)
Quoting saidi01
Today had me blind folded up there lets see tomorrow folks {image}

the buy setup ws for yesterday those that took it serious are in some profits though they short lived

me is seeing sells at that point where i got limits
lets see how it will run

see you folks
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  • #874,963
  • Jun 4, 12:14am (13 hr ago) Jun 4, 12:14am (13 hr ago)
Quoting saidi01
{quote} the buy setup ws for yesterday those that took it serious are in some profits though they short lived me is seeing sells at that point where i got limits lets see how it will run see you folks {image}

we in now
lets see how it plays out
see you folks
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  • #874,964
  • Jun 4, 1:29am (12 hr ago) Jun 4, 1:29am (12 hr ago)
Broadly price is moving in a sideways direction, consolidating between the resistance zone at the level around 1.3652 & the support zone which is at the level around 1.3175.
Price is moving downward after retesting the Resistance zone, in a declining channel, respecting the lower and upper boundaries of the channel multiple times as marked by Green and red arrows.

Most Recent rejection from the upper boundary of the channel as marked by yellow arrow, has led us to think of the move that can lead the price till the confluence of lower boundary of the channel & Support zone.

Emergence of a symmetric Triangle acting as a consolidation formation before breaking in the downward direction, validate our outlook!

To capture this expected decline we can plan for a short trade

High risk short entry @ 1.3402
Low risk entry @ 1.3363
Stop loss around 1.3488
For the target of 1.3200

Strict Risk management should be applied and Position should be sized according to individuals risk appetite.

For Educational Purposes only, Not an Investment Advice
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  • #874,965
  • Jun 4, 3:42am (10 hr ago) Jun 4, 3:42am (10 hr ago)
G/M. Can someone send for a Doctor,? I think this thread is dying. Maybe a Priest might be more appropriate,? - give it the last rites.

Anyways, a nice bounce up from the prev 1hr/minor 4hr sw lo zone = pot supp that extends down to today's AL/CDL, this coexistent with others, and in fact it is the 5th x 1hr attempt to get south of a prev 1hr sw hi zone = prev rbs x 5 = port rbs, formed last Thursday, (CWL included as one of the attempts.)

Price @ the AL/CDL also entered the dly part of the prev 1hr/4hr/minor dly sw lo zone = prev supp x 2 = pot supp that extends down to 3367 LWL.


1hr below
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Trader with an Edge.
  • #874,966
  • Jun 4, 3:56am (9 hr ago) Jun 4, 3:56am (9 hr ago)
Quoting Headland
G/M. Can someone send for a Doctor,? I think this thread is dying.
I think most important is that price is doing nothing. When price starts to move people will flock here with their posts.
  • #874,967
  • Jun 4, 4:01am (9 hr ago) Jun 4, 4:01am (9 hr ago)
...3509 LWH and 3367 LWL are probably outliers and false b/o's of the main body of the current 4hr ranginess?

4hr below

Quoting Mitiblotch
{quote} I think most important is that price is doing nothing. When price starts to move people will flock here with their posts.
Hi. My 1st day back trading since returning from hols, so yeah it is a rangy situation, particularly on 4hr, so must be frustrating for traders on the 4hr or above trigger right now, re any sustained move. I'm mainly on the sub 30min triggers so a 1hr, or 1hr/4hr range is no real issue for me, there are still good hi-prob trading set-ups in such a higher t/f (s) ranginess.

Re folk coming 'flocking back' to this thread when price starts to 'move,' as you put it, - we'll see. I think people change habits, and that becomes the new habit. The place needed a shake-out anyways, so may not be a bad thing in the longer-term?
-------------------------------------------------------------------------------------------------

Dly below
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Trader with an Edge.
  • #874,968
  • Jun 4, 4:46am (9 hr ago) Jun 4, 4:46am (9 hr ago)
Quoting Headland
{quote} Hi. My 1st day back trading since returning from hols, so yeah it is a rangy situation, particularly on 4hr, so must be frustrating for traders on the 4hr or above trigger right now, re any sustained move. I'm mainly on the sub 30min triggers so a 1hr, or 1hr/4hr range is no real issue for me, there are still good hi-prob trading set-ups in such a higher t/f (s) ranginess. Re folk coming 'flocking back' to this thread when price starts to 'move,' as you put it, - we'll see. I think people change habits, and that becomes the new habit. The...
welcome back!

my first day back after a few weeks off from trading .. very rangey
Insane in the Brain..
  • #874,969
  • Jun 4, 5:13am (8 hr ago) Jun 4, 5:13am (8 hr ago)
Quoting BeeTogether
{quote} welcome back! my first day back after a few weeks off from trading .. very rangey
Hi, Thank you. Welcome back too, hope your return is profitable for you.
---------------------------------------------------------------------------------

... so, strong bounce up after testing the prev 1hr/minor 4hr sw lo zone = prev supp x 1 now = pot supp that extends down to today's AL/CDL stalls @ a 3 fib cluster in coexistent prev 1hr sw lo zones = pot sbr.

1hr below
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Trader with an Edge.
  • #874,970
  • Jun 4, 5:40am (8 hr ago) Jun 4, 5:40am (8 hr ago)
...bulls bought the shallow downside p/back from the 3442 CDH. More of an up-move from 3410 AL/CDL on 30min +, than a discrernible uptrend yet. 50% of the 3482 CWH - said 3410 AL/CDL down-move is @ 3446, with Dly R1 @/around the 61.8% of said down-move, @ 3455. The 30day adr metric is down to 83pips today.
3rd upside b/o of today's AH is still true, so far @ least.

1hr below
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Trader with an Edge.
  • #874,971
  • Jun 4, 6:49am (7 hr ago) Jun 4, 6:49am (7 hr ago)
Quoting CrazyTrades
Broadly price is moving in a sideways direction, consolidating between the resistance zone at the level around 1.3652 & the support zone which is at the level around 1.3175. Price is moving downward after retesting the Resistance zone, in a declining channel, respecting the lower and upper boundaries of the channel multiple times as marked by Green and red arrows. Most Recent rejection from the upper boundary of the channel as marked by yellow arrow, has led us to think of the move that can lead the price till the confluence of lower boundary of...
1.32 highly unlikely in June, it's a seasonally bullish month
Air force
  • #874,972
  • Jun 4, 7:25am (6 hr ago) Jun 4, 7:25am (6 hr ago)
Quoting BeeTogether
{quote} welcome back! my first day back after a few weeks off from trading .. very rangey
"The boys are back in town"...
  • #874,973
  • Jun 4, 7:27am (6 hr ago) Jun 4, 7:27am (6 hr ago)
Quoting Mitiblotch
{quote} I think most important is that price is doing nothing. When price starts to move people will flock here with their posts.
It's a horrible slow motion in the past weeks... I believe he market makers are cooking something.
Data + Stat + Risk/Emotions Management
  • #874,974
  • Jun 4, 10:27am (3 hr ago) Jun 4, 10:27am (3 hr ago)
...back @ desk/updating charts and seeing what I missed. It doesn't get much rangier than the current 4hr chart! 1hr is more rangy than anything too, right now. The move up from today's 3411 AL/CDL met supply @ a prev 30min sw hi zone = prev res x 1 now = pot res, and price has pulled back to the downside below the 50% of the 3411 AL/CDL- 3462 CDH move-up.

1hr, then 4hr, below
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Trader with an Edge.
  • #874,975
  • Jun 4, 10:50am (2 hr 59 min ago) Jun 4, 10:50am (2 hr 59 min ago)
Entered long. Aiming for a 1:2 to 1:3.
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  • #874,976
  • Last Post: Jun 4, 10:52am (2 hr 57 min ago) Jun 4, 10:52am (2 hr 57 min ago)
...it's a downside p/back of the day's still main up-move, down to the 61.8% of it, and you got 15min/30min bullish hidden div present. No real next higher t/f (s) uptrend (s) though, ie 1hr/2hr respectively, re those set-ups, so it's a less than optimum set-up. Anyways....

1hr below
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Trader with an Edge.
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