Cable Update (GBPUSD)

3 bott is a bit too obvious in EURUSD, so given that it's a treacherous SOB, I expect a fake break down of the 3 bott and then
fast reversal and back to hit 1000. That's my expectation, see what we get! GU expecting similar reaction.
PS: there's 5 bln USD option in EURUSD at 1000 expiring @ NY cut Thursday. So gives a bit of the boost to this plan below.

" open and nimble beats the swindle "

by me

yeah for sure. Have to keep an open mind. But today was a proper bear day. A lot of bulls didn't make it. RIP.

have a peek at the weekly chart , does it ring a bell ?

looks fugly atm. BUT. The key is that we still got THU/FRI left. And GU still might produce a surprise.
If we don't get recovery soon though, graveyard shift will take over and then there will be a lot more tombstones.

the only boost GU might get is via weak DXY / strong EUR, but that's only after data release on Thursday. Until then it's going to be more red/pain.
(more so via weak DXY, cause if EUR is too strong it can actually sink GU via EG).

Now EURUSD 90% of all expiring options are stacked in the range 0900-1.1200 until Oct 31st.
So a good chance that EU will reverse Thu/Fri.

If that's the case, GU should at least provide a decent bounce (100-150 points).
ps: EU options chart attached below.

long time no see, how are you doing?

I don't often post here too much I like to.sit back and lurk, amazing I've been looking at pound short since last week ( I was waiting for entry) looking back here all of 12 hours ago majority of people where long then they switch there bias short, just check out the bigger picture take a look at the weekly price has bounced off weekly resistance zone and formed the clear head and shoulders on the 4 hour shorting the pound dollar was an absolute steal today.

Future predictions

Pound down to test the lows of the previous up move create a double bottom and potentially reverse

Dollar index
Price.to reach around 100.?? To 100.60 before reversing.

ABAB simples

Good night god bless

Very good my friend, how about yourself? In good health and plenty of pips from the steal I hope

good deal, I like that! Yeah, doing ok this month so far, let's see if my EURUSD trade based on options will pan out, will be looking to scoop up tmrw.
You should check in more often, you got nice clean charts - the way they should be!

With the close today, I see that 2425 first resistance and then 2450. This is for thursday.

Wolf waves works very well but Im not consistent with my view.hadehhhhh

I am ready for your next Margin Call

gbpcad 4h
low volume
low volitality

Will you be surprised if GU returns to the 2460 area today?

I think market is going up....

Possible reversal areas

Attached Image (click to enlarge)

Sell GU for 30 pips profit.
Current price 1.23649