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Cable Update (GBPUSD)

  • #530,441
  • Jun 23, 2020 11:28am Jun 23, 2020 11:28am
1Hr remains in a messy uptrend after that upside thrust break of the earlier congestion and desc t/line ....first potential Resistance becomes Support on this t/f (if tested) is the tops of that congestion....The obligatory fibs are in evidence too.

1Hr chart is below.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 67 KB
Trader with an Edge.
  • #530,442
  • Jun 23, 2020 11:30am Jun 23, 2020 11:30am
Careful Bulls... Failure to break 1.2575 is invitation of 1.2310/1.2280 area which can be quick and aggressive.
Data + Stat + Risk/Emotions Management
  • #530,443
  • Jun 23, 2020 11:33am Jun 23, 2020 11:33am
Quoting Georginson
Careful Bulls... Failure to break 1.2575 is invitation of 1.2310/1.2280 area which can be quick and aggressive.
Heres me hoping...
  • #530,444
  • Jun 23, 2020 11:34am Jun 23, 2020 11:34am
Quoting Georginson
Careful Bulls... Failure to break 1.2575 is invitation of 1.2310/1.2280 area which can be quick and aggressive.
cable is so unstable how can it break the low and suddenly fly back up
  • #530,445
  • Jun 23, 2020 11:36am Jun 23, 2020 11:36am
Quoting Georginson
Careful Bulls... Failure to break 1.2575 is invitation of 1.2310/1.2280 area which can be quick and aggressive.

Certainly seems to be some sellers at/around the current daily hi but for the reasons I outlined in my post earlier I think this 4hr D-E correction is different to the B-C correction on the same t/f....This may be more significant to longer term swing traders than me who tends to scalp to short-term intraday positions and generally finishes each trading session flat. In any event this 'difference' may have no bearing on it all all given the fundamentals, [ which to a large extent the technicals are a visual reflection of.] Whatever the case Good Luck with your trades and thank you for your excellent analysis in this thread.
Trader with an Edge.
  • #530,446
  • Jun 23, 2020 11:46am Jun 23, 2020 11:46am
Quoting dondealova
long added again
How much you are loaded by the way?
It's clearly down and going for test 1.2270 region .
Why you guys making confusion to the newbies??
  • #530,447
  • Jun 23, 2020 11:49am Jun 23, 2020 11:49am
Traders must watch if the rejection around 1.2530/1.2545 is done then cable should test 1.2270 zone atleast within few days ..
Stay blessed
  • #530,448
  • Jun 23, 2020 11:50am Jun 23, 2020 11:50am
still with bull StrongHold
Attached Image (click to enlarge)
Click to Enlarge Name: Cable.png Size: 60 KB
https://investizo.com/investment/view?server=1&login=2141779119
  • #530,449
  • Jun 23, 2020 11:51am Jun 23, 2020 11:51am
i stoped loss my GU long 30 pips

the direction has changed

GU want to go 1.27
  • #530,450
  • Jun 23, 2020 11:55am Jun 23, 2020 11:55am
My analysis is pretty clear where its going either up then down or down then up
Attached Image (click to enlarge)
Click to Enlarge Name: trade.jpg Size: 574 KB
  • #530,451
  • Edited 1:46pm Jun 23, 2020 11:57am | Edited 1:46pm
Quoting Wavegarrick
{quote} Anyway, looking somewhat good for bulls now. Both ascending and descending trendlines broken. My weekly resistance 1 at 1.25762 up ahead. Trade safe, Cheers. {image}
From an hourly perspective, I am using these little retraces to add buy trades. I will be careful with a breakdown below 1.2500.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_587.png Size: 84 KB
Trade to trade another day
  • #530,452
  • Jun 23, 2020 12:00pm Jun 23, 2020 12:00pm
Quoting epzero
{quote} cable is so unstable how can it break the low and suddenly fly back up
These moves are expected... Levels are 1.2495...1.2535...1.2575..always prepare for movements ahead of time
Data + Stat + Risk/Emotions Management
  • #530,453
  • Jun 23, 2020 12:01pm Jun 23, 2020 12:01pm
Quoting Headland
{quote} Certainly seems to be some sellers at/around the current daily hi but for the reasons I outlined in my post earlier I think this 4hr D-E correction is different to the B-C correction on the same t/f....This may be more significant to longer term swing traders than me who tends to scalp to short-term intraday positions and generally finishes each trading session flat. In any event this 'difference' may have no bearing on it all all given the fundamentals, [ which to a large extent the technicals are a visual reflection of.] Whatever the case...
Any rise remains a crash to 1.2310/1.2280
Data + Stat + Risk/Emotions Management
  • #530,454
  • Jun 23, 2020 12:02pm Jun 23, 2020 12:02pm
Quoting msniper
i stoped loss my GU long 30 pips the direction has changed GU want to go 1.27
Giving up on your short so soon. 1.2310/1.2280 like a flash. Do not be trapped upstairs.

Cheers.
Data + Stat + Risk/Emotions Management
  • #530,455
  • Jun 23, 2020 12:06pm Jun 23, 2020 12:06pm
Quoting mkvy
My analysis is pretty clear where its going either up then down or down then up {image}
gotcha!
  • #530,456
  • Jun 23, 2020 12:06pm Jun 23, 2020 12:06pm
Quoting Georginson
{quote} Giving up on your short so soon. 1.2310/1.2280 like a flash. Do not be trapped upstairs. Cheers.
those levels u mentioned will be buying levels if we reach them
  • #530,457
  • Jun 23, 2020 12:07pm Jun 23, 2020 12:07pm
The situation H1 gu can go down very easy now.But doesnt want.tomorrow it goes up.
  • #530,458
  • Jun 23, 2020 12:10pm Jun 23, 2020 12:10pm
H4 has closed with the bulls still on rampage. And for effect, it does not appear that 2535 will be able to stop these bulls.
Attached Image (click to enlarge)
Click to Enlarge Name: GU H4 2306B.png Size: 41 KB
  • #530,459
  • Jun 23, 2020 12:11pm Jun 23, 2020 12:11pm
Quoting esemes
{quote} How much you are loaded by the way? It's clearly down and going for test 1.2270 region . Why you guys making confusion to the newbies??
My Reason...my view The Cable will back to 1.27xx
Attached Image (click to enlarge)
Click to Enlarge Name: Cable.png Size: 61 KB
https://investizo.com/investment/view?server=1&login=2141779119
  • #530,460
  • Jun 23, 2020 12:13pm Jun 23, 2020 12:13pm
Quoting msniper
{quote} those levels u mentioned will be buying levels if we reach them
Fingers crossed...
Data + Stat + Risk/Emotions Management
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