Cable Update (GBPUSD)

Quoting Marco-Kanto

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{quote} I like your trend indicator. Much sexier then mine. Could you tell me what it is pls?

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Quoting Vincent1

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Bull waiting around 1.244x/1.245x, just little bit under 1.248x strong resistance past days.
There we may see a new buy for a new HH If we follow the typical market behavior (bear trap now and bull trap later), we need a new HH, maybe to go 1.273x.
After that we can point down around 1.20 IMHO

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Quoting Vincent1

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Bull waiting around 1.244x/1.245x, just little bit under 1.248x strong resistance past days. There we may see a new buy for a new HH
If we follow the typical market behavior (bear trap now and bull trap later), we need a new HH, maybe to go 1.273x. After that we can point down around 1.20
IMHO

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Quoting Vincent1

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First step done
The down has been faster than expected
Not sure if it will arrive at 1.273x (on Friday). Maybe 1.267x (tomorrow) already is a good area where bears can push it down again, after a false breakout/bull trap

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Quoting pipfarm

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Yesterday price could not get through the 2600 area resistance , today it swings down and breaks the old resistance becomes support and first support low, a single swing does not make a trend reversal therefore it would be logical to assume that price will go back to test somewhere towards the 2600 area.(based on 1hr tf) This is not a prediction and price action ( at least for me ) will dictate how i trade it.

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Quoting elbert3

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{image} not sure if taking the profit was right ???

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Quoting elbert3

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{image} 1 to go Hedge again long 2536 stop 8 pips

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