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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Quoting Orangeapple
As enticing as technical shorts appear - I wouldn’t be surprised if it ranges here for awhile - the contrarian in me is tempted to go long - prob best to sit it out for now.
Pick a time frame and look back 12 hours, it's been in a range! Smart!
Quoting Pat Chiko
{quote} Machine vs Human GU Same chart we may interprate it differently..... Even looking at the same chart, I may interpret it differently. We are animal with brain build for different view......... We are accustomed to not listening to other views with an open mind, especially views that oppose our own ideas, ideology and beliefe. This is true in politics, economics, trading, and even everyday things like food, clothes, and friends. When someone cannot win an argument, they may resort to trolling, which is the act of deliberately provoking or...
GU

As we get closer to the London Open, more data comes in, making the price structure and setup more visible and easier to interpret.
This will help us to analyze the chart better and make more precise trading decisions.

Or is the price in the process of making manipulative moves to induce retail traders into the wrong side before the London Open?
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We need to spend some time understanding price.
No matter how many squiggly lines you put on your chart, you will not be able to understand how price moves unless you understand price action.

Some Swquigle One musik before LO to entertain you
Inserted Video
I come from the future.
Quoting eyefeelsix
{quote} zero latency pending short in the zone {image}

I canceled my pending short, if atm LOD is not broken it seems that the fifth will be higher than the green zone

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The Path of Least Resistance ~
on d1 i see a head and shoulders pattern.
so it should be going down right?
just my opinion
It’s fryday potential both ends will get some TLC today. Following Pats 125 for TP for time being will look for more if the trend allows it
I have to say: This is one of the most awkward moves I had so far. I know they exist. Someone is buying always when it would be time to retrace. You can see that when you have more experience.

When I talk from "them" I mean the institutionals who can move the market, just for info.

My long order was at 1.2543... now look what price were doing at that level that morning when everyone is sleeping... that is not by accident. The institution (or whoever that is) who buys try to sell when lots of people sleep to avoid a big downward reaction. It is a classical fake move up to make people crazy.

From statistical view you can see it also. I'm exited how day will end today. Sometimes moves like that are nessesary to get out of a range. I think that's what we have seen last 24 hours.

Even if I cannot get ahead by that move yet with my shorts, I see I'm on the right track because my stops/expectations are almost made on the point so you must to something right, especially with position and money management in my case at least.

Let's see if we see even a 30 or 40 pip move up next 30 minutes. That would support my thesis even more. Of course even these people run out of money soon or later so as I said i'm excited to see price action next hours.

The problem for pushing market like that is that you drive yourself more and more in the sh*t with your long positions, most times ending with a big bang to the downside - if time and demand (in current case) is acceptable to dump first long positions. I'm ready for today. Let's fight.
sell @ 1.2563
Quoting Pat Chiko
{quote} Machine vs Human GU Same chart we may interprate it differently..... Even looking at the same chart, I may interpret it differently. We are animal with brain build for different view......... We are accustomed to not listening to other views with an open mind, especially views that oppose our own ideas, ideology and beliefe. This is true in politics, economics, trading, and even everyday things like food, clothes, and friends. When someone cannot win an argument, they may resort to trolling, which is the act of deliberately provoking or...
and in both cases you see it going down, not up
G/M, a big >30 day adr bullish thrust dly candle y/day and 3rd consecutively on that t/f. The prev 1hr/4hr/dly sw hi zone to 2546 that it bust north thru is now pot rbs and on dly extends down to circa 2528. The current dly hi now above the Asian hi is in a prev 1hr/4hr sw lo zone from 5th May, = prev supp = pot sbr, -this is coexistent with one that extends up to circa 2618.

1hr below
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Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
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Do not get emotional when you gain or lose
What we currently can see is more GBP strength than Dollar weakness. EUR/GBP is also screaming. London is always difficult in initial a clear move. That is a big problem currently to get more highs. They have to watch out now that no bigger consolidation is incoming, that's why market does not go down currently.

I think you have to understand market structure and how they try to move the market. Of course that is not everything but in extremes like currently most times they are involved heavily. I find that always a bit sad because that means in the end that professionals play against professionals and sometimes people get out of the market due to heavy fights because someone wants everything. But I think that's capitalism .

By the way I trade next to I'm writing lol.

But most important is: Be disciplined. Here is an example from me this morning: Your Target Profit (like today on me) as not hit by one pip. You have to stay calm, don't average down in that moment or invest more. When you get triggered you have the tendency to act. And than you play roulette. -You can average down - but in the right moment. What helps for me is to act like I have no open position so you decide to act like you would decide without emotions and open a trade by the rules....

You see trading is far more than chart, tradesize and take profit / stop loss. I think who is very flexible, also in life in general, has high chances to earn really money with stocks/forex etc.
.
Ready for a 100 - 200 pip drop???
Sell @ 1.2545 Tp 1.2380 stop loss 1.2570
ouch...itchy fingers
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~ Keep Calm and Trade Carefully ~
Now we have seen a new high without continuation. They use it for making liquidity and prepare selling. Current downmove is selling much longs of last 16 hours. I'm +/.0 currently from yesterday 1.2470's.

Next stop is 1.2540. Let's see if they play by the book now or if they dump more directly. They need more up and down now to liquidate their positions, else people realize too fast what's going on.

With the new high they trapped now also some professionals. Let's see if they could sell of enough last 10 minutes to make a new high later today.

Minimum Consolidation reached now at 1.2546, better would be 1.2540. You also can see on price action that big guys move the market. Not much of up and down per minute (fluctuation is low). Currently means selling undercover without making too much noise. -That does not mean they want the market to go down. That only means they have to gain new liquidity to push the market in the direction they want it.

Let's wait now for the up and downs.
Quoting genadi
{quote} and in both cases you see it going down, not up
Yes, but since 4hr structure shift to uptrend,
Chance to make more wins shift to trade Demand Zone and not supply zone (since they are all meant to be broken in an uptrend;making HHs)
We sell only when external BOS occurred. And the conservative TP level will be at demand zone which will produce HLs.
However, what becomes interesting is inducement at any support level other than demand zone. MM trap traders before sweep all their SL by going to Demand Zone.

The inducement is noise but come with good Risk Reward for scalping

My two cents view what i expect from an Upward market structure
Not afraid to be wrong, ik what am goin to lose!
Quoting Fardeen1209
{quote} Yes, but since 4hr structure shift to uptrend, Chance to make more wins shift to trade Demand Zone and not supply zone (since they are all meant to be broken in an uptrend;making HHs) We sell only when external BOS occurred. And the conservative TP level will be at demand zone which will produce HLs. However, what becomes interesting is inducement at any support level other than demand zone. MM trap traders before sweep all their SL by going to Demand Zone. The inducement is noise but come with good Risk Reward for scalping My two cents...
I agree, you are right

1.24670 will be the high of the day
dx will not drop below 103.300
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...asian hi then lo both breached. Current supp is in that prev 1hr/4hr/dly sw hi zone that started at 2546, = prev res = pot rbs, and extends down to 2528 on dly t/f. In there a prev 30min sw lo zone where current dly lo is, = prev supp = pot supp. Potential for 1hr bullish hidden div to develop on any deeper p/back so long as above 2429. If it did it would do so @ a potential LL on 1hr so you'd ideally want that to be a potential HL on the next higher t/f - ie 4hr, in this t/f combo.

1hr below
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Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Now my Target Profit was hit and I'm out with a daily win (about 5 Trades), started to short from 1.2470's area, managing the trade (of course I used more than my initial position, about 10 times higher in the peak but that is ok, it is a part of my system). I think there is more coming down now, they hardly can keep the market up but that is not my trade.

It's a bit sad, that you cannot really see the volume. Else you would know if they managed to sell off enough already for next move up from last 16 hours.

From statistical view the retrace was not big enough anyway yet and PA is also more bearish if you watch last 1 minute candles. When I see big red 1 minute candles and more small green ones it means:
We want to buy slowly and dump the market of low liquidity to buy even more (means raising quotes) or
it means we have problems to sell off our longs to the market and buy even more to avoid a flush in the market in the current situation (means lower quotes).

Due to market conditions, my tendency we see currently on PA, is the 2nd Scenario. They have problems to sell their longs to the market. Let's see if they try to take out the last high of 1.2552 to establish a fresh sell area for them. Currently longs are overpositioned since last 50 minutes. They need higher prices now or flush (down) is coming.
how you see the market depend on what time frame you are looking at.

for me i am currently on daily chart

all i see for now is 1.22
PLAN YOUR RISK & REWARD BEFORE INVEST
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