Cable Update (GBPUSD)

long 1.2758

Its just enough if hr4/daily will fall and close below
Last day low..and honestly i don't believe it will.

I am also targeting 1.23, but am out if price breaks today's 1.2778. Good luck and trade safe.

I started with the European session. Hope today is not at a loss.

check the divergence @ m15 again/

hit neckline

there is nothing in the charts pointing to a significant down move.
There may be retracement on H4 which will pull in short sellers but this thing has bull written all over it.

The crash is easier than rise comment is in the context of this current rate at 1.2770. I have looked carefully into price behavior of this scenario and came out with these observations :

* month of June usually have ranges between 400 - 500 pips and the current range is 454 pips (meaning up movement is now very likely limited.
* Year 2013 had 1500 pips decline from opening price and picked a strong reversal up at a point in time in month of June with range 530 pips and crash was what followed back to the opening price (2020 also has 1800 pips decline, now June 2020 has surged by 454 pips up)
* there has not been a monthly candle that has less than 3 pips below the opening price (this June has less than 3 pips below the opening price)
* since 2019 till date there has only been three different occasions of 3 connective weeks of buying (September 2019, December 2019 and this current June 2020. This week is the 4th of buying which according to previous times, the 4th week usually moves up by 67 - 88 pips before ending the week as bearish. This week, we already have 94 pips above the opening price, which is further credence we are due for bearish moves.
* April 2018, November 2018 and December 2019 all began with 280 - 430 moves up without giving the Bears at least 10 pips, the end result was in the downside.

I maintained my bearish bias from all these statistics and bearing in mind that we already have 700 moves up from the LOW of 1.2073 back in mid May which is also a good stretch due for at least 250 - 400 pips reversal.

I will always like to keep in touch with your analysis too Mitiblotch as I find it usually useful too.

As always nothing is definite in this market, let's all trade safely and avoid over strong bias.

Peace!

bull still in control nearest support 1.2738 the road is clear to 1.2850 so far

First buy 1.2755

lol

Scalping short.

hit r

break out

=15 pip loss. Too many bulls.

Can't beat them - join them
long in at 1.2773 - target 1.2875

The market today is too easy to make pips.

pips

If the majority of traders lose in the Forex market, then in what direction should you be trading?

Check this out: https://www.dukascopy.com/swiss/engl...tch/sentiment/

Closed at 1.27800 for +52pips