Cable Update (GBPUSD)

Wahahaahaha, like roller coaster?

Here are reasons I decided to short

* there has been no monthly candle that price didn't drop below the opening price by at least 3 pips, should this current month candle fail to do that, It will definitely drop below June opening in early July and we are just 5 trade days left to end this June...
* in the last 6 weeks since price touched low of 1.2073 only once has weekly high gone above the weekly open by more than 220 pips... Most weekly open to high is usually between 130-210 pips before reversal. This week, we already have 208 pips move above the weekly open which translates to strong possible reversal.
* in the last 2 weeks since price touched a high of 1.2812, weekly high have moved above weekly open by 130-170 pips before aggressive reversal below the weekly open by 140-170 pips.
* last week price initially touched a low of 1.2453 and reversed to high of 1.2687 being 234 pips reversal before another fall to 1.2333, smashing the previous low by 120 pips... This week it has moved from 1.2333 to 1.2541 being 208 pips reversal which has a strong indication of reversal anywhere around 1.2540/1.2565 region for a crash below previous low of 1.2333 which takes us to 1.22 level.
I
The above are my reasons for having a bearish bias to 1.2310-1.2280 within 2 days to 2 weeks.

Peace

NASTY!

Hello...glorious sun today - old school disco funk on the playlist...what could possibly go wrong !?

Almost 38.2% of the total mon lo - today's current hi reached in the pullback of the 1hr uptrend before the bounce and subsequent fall back to near there. New 1hr/4hr desc trendlines joined to fractal swing created by this current daily hi. The light blue area below current price on 4hr chart below shows the potential support if reached - 50% of the aforementioned total move in there @ 2438. 1Hr has now printed a HH, LH, and L in this pullback off the current daily hi. 64% of 30 day adr travelled off that hi so far today.

Roller coaster powered by this piece maybe??

https://www.forexlive.com/news/!/us-...nd-uk-20200624

No, what he's saying is not misleading at all. He's only stating the mood of the market but I hope you know there are professionals whose job it is, to defend their nation's currency. So, don't ever think the market will always go in a straight line

Waiting confirmation to short again.

Right, but if it is a true news then really bad for UK

we got bullish hammer on the 50 sma at the hourly followed by a retrace candle , no short here

For sure and this article here paints a damning picture of Cable right now....brought to you by the so called pollies who are there for the people....LOL

https://www.forexlive.com/news/!/the...-bofa-20200624

Please consider taking a look at my Daily Market Update.

DXY starts at 0:03,
GBP/USD starts at 11:55.

I upload weekly analysis every Sunday and daily analysis from TUE to FRI.

Strong buying on m15. good vol so far

Got a buy on b4 the roller coaster started @ 2506 TP 2532, had to hold my nerve when it dropped....

In the face of these staccato of up and down movements, isn't the spinner on M30 the pointer to the direction, PA will take?

DXY D1 Chart have been Bearish engulfing and GBPUSD D1 Chart have been Bullish engulfing Patterns so Traders lets Decide where market go up or down

...pretty wild swings as price consolidates off the 1hr pullback lo near that 38.2% fib mentioned earlier....some opportunities on the lower t/f's......1hr 20 bols contracting reflecting this consolidation......at the current daily hi it was in that Boe/Mpc Last Thursday's spike high where supply kicked in to take price to the current said 1hr pullback lo.

1Hr below shows what I'm looking at as far as near term potential support and resistance on that t/f is concerned.

Which way will it go ? - I, like everyone else have no idea - just gonna trade what I see.

...oscillators to 1hr are pointing up atm....if you go in for that sort of thing. Actually I just wanted to get my post count off the number 113 to 114 as I once stayed at a guest house called '113' and it was the type of place you wiped your feet on the way out. I complained to the owner about a flee I had found in my room and he said that 'one flee won't do you any harm' to which I replied 'No, but it's the 10,000 that have come to it's funeral that are worrying me..'

Anyway job done...114 it is.

Mate is this some kind of secret message you are trying to pass across??
If yes, blink once and if no, blink twice