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Cable Update (GBPUSD)

  • #510,061
  • Jan 29, 2020 3:31am Jan 29, 2020 3:31am
60 minute time-frame

Theoretically it should be the last swing down to take it below 2960 but is looking extremely dodgy which is norm for the last wave, on the other hand price action is also looking like a set up for bigger correction up to 3086, so extreme caution is needed at this point in time.
Follow The Markets Structure - Patience and Discipline
  • #510,062
  • Jan 29, 2020 3:52am Jan 29, 2020 3:52am
Inserted Video
  • #510,063
  • Jan 29, 2020 5:16am Jan 29, 2020 5:16am
Why GBPUSD being so quiet for more than week?
  • #510,064
  • Jan 29, 2020 5:28am Jan 29, 2020 5:28am
also shorting
3008
33 pip trgt
in wondering about yourself, you forgot what you came here to be part of
  • #510,065
  • Jan 29, 2020 5:49am Jan 29, 2020 5:49am
ranging @ daily pivot

took long 1.3008

TP 1.3070
  • #510,066
  • Jan 29, 2020 5:55am Jan 29, 2020 5:55am
Hourly is looking more and more like a abc c up to 86 then maybe on fomc down again,

I cant justify the hourly as a correction for more down play as there is no corrective pattern up that i recognise
Follow The Markets Structure - Patience and Discipline
  • #510,067
  • Jan 29, 2020 6:00am Jan 29, 2020 6:00am
I look at the daily and I see nothing more than 1.305 on this pair.....
Lost....
  • #510,068
  • Jan 29, 2020 6:01am Jan 29, 2020 6:01am
Quoting falgun196
Why GBPUSD being so quiet for more than week?
Waiting for Thursday..
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #510,069
  • Jan 29, 2020 6:04am Jan 29, 2020 6:04am
Quoting Almo2312
{quote} Waiting for Thursday..
calm before a storm...
  • #510,070
  • Jan 29, 2020 6:04am Jan 29, 2020 6:04am
Quoting gespiri
I look at the daily and I see nothing more than 1.305 on this pair.....
Well its FOMC tonight , likely no rate cut so cable could go higher before MPC on thursday for a drop and they will want to sell from a higher position.




Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 37 KB
Follow The Markets Structure - Patience and Discipline
  • #510,071
  • Jan 29, 2020 6:09am Jan 29, 2020 6:09am
Quoting thevisitor
ranging @ daily pivot took long 1.3008 TP 1.3070
adjusted sl +3
  • #510,072
  • Jan 29, 2020 6:19am Jan 29, 2020 6:19am
Quoting thevisitor
{quote} adjusted sl +3
out +3
  • #510,073
  • Jan 29, 2020 6:25am Jan 29, 2020 6:25am
Quoting thevisitor
{quote} out +3

sl not triggered...
  • #510,074
  • Jan 29, 2020 6:26am Jan 29, 2020 6:26am
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 32 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EG.png Size: 34 KB
yes yes yes
  • #510,075
  • Jan 29, 2020 6:38am Jan 29, 2020 6:38am
out +3
  • #510,076
  • Jan 29, 2020 6:59am Jan 29, 2020 6:59am
Quoting pipfarm
{quote} Well its FOMC tonight , likely no rate cut so cable could go higher before MPC on thursday for a drop and they will want to sell from a higher position. {image}
agree
  • #510,077
  • Jan 29, 2020 7:17am Jan 29, 2020 7:17am
Quoting knkie
also shorting 3008 33 pip trgt
still holding this short
should fall rapidly now as level 06 was in the way but got broken now.
in wondering about yourself, you forgot what you came here to be part of
  • #510,078
  • Jan 29, 2020 7:21am Jan 29, 2020 7:21am
Quoting knkie
{quote} still holding this short should fall rapidly now as level 06 was in the way but got broken now.
I guess it is going to go to the low after all, no trade for me too cautious.
Follow The Markets Structure - Patience and Discipline
  • #510,079
  • Jan 29, 2020 7:27am Jan 29, 2020 7:27am
Quoting pipfarm
{quote} I guess it is going to go to the low after all, no trade for me too cautious.
lots of support levels around 2970
is that the low you meant?

I will exit there and then see how it deals with this support zone
in wondering about yourself, you forgot what you came here to be part of
  • #510,080
  • Jan 29, 2020 7:33am Jan 29, 2020 7:33am
hourly, 30min 15 min, 5 min I see bullish " pattern "
Intraday only.
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