Cable Update (GBPUSD)

hey josh
yes another good day for me.
I scalped M5 & M15 until the big drop on M30.
This last 5 pip bust was my only loss today

up date

Next week may follow more sell off. Who knows. Trade Safe. I might be wrong.

Weekend to everyone. Have a great one.

Cheers
TW

Just looking ahead to next week and completing my pre-market downside analysis tonight so have the w/e free....Bears are in control near term. Price has pulled back from the 2314 likely daily/weekly lo to the 23.6% fib of the 2464-2314 move....at the pullback hi so far.

Bears will no doubt be targeting the prev swing lo zone down to 2072 being a prev 4hr/dly/wkly swing lo zone shown on daily as dark green zone = 1st chart below (dark blue on weekly = 2nd chart below.) 50% of the main 1411-2813 move up comes in just above that @ 2112 which may also be a target. 61.8% of this move is at/around 1945 just below the farthest point south of a prev wkly/mthly sw lo zone that did not act as res when tested in the move back up from 1411.

Inbetween these and the current/likely daily lo are a prev 4hr/dly swing lo/hi zone -shown as light blue zone on daily chart below, and below there the prev 4hr/dly sw lo zone down to that 2160 lo (shown as dark blue on daily chart below) are the intermediate potential support areas on this daily t/f, barring the downside fibs.

1hr/2hr/4hr and daily are in downtrends whilst the weekly has seen a HL, LH, =LH, L,HL,LH,L then H as the last fractal swings on that t/f....so no real trend by this measure. Only a break below 2072 will see a fractal LL on this weekly t/f confirming a downtrend - by this measure.

Re EMA's 20 is below 50 which is below 100 on all t/f's 5min - Mthly.

Likely only 65% of the 26 week awr covered this week and so far this month of June 85% of the 12 month amr.

Very likely interesting weekly candle close and will be interested to hear what others make of it. Monthly closes on Tuesday and again could be an interesting candle.

Quite a few known event risks in terms of data releases and various high rollers speaking this coming week so hope it will make for an interesting one.


Have a great w/e.

Hasta la Vista.

This will reach 2400-2450 easily monday-tuesday, I am ready to buy during Tokyo after market opens.

I would never miss such a nice move down

Im very tempted to sell some risk over the weekend. Thinking all misserable headlines till monday to come(..) Small portion Spx!

Its good practice to ignore some people

Excellent assumption..

What the f was that; look at the stock futures. Guess Im not the only one thinking to do this )

ill ignore the miss spelt name haha (happens all the time)

good to here knkie, i didnt get in too much today, got in some small scalps didn't wanna ruin a great week, great to have days like that.

stay safe bud

enjoy your weekend

Joe

breakouts have all been confirmed to the high side of the tl . As I have been posting this all week on the 5 min chart . One of the reasons some people are going long or not having big stops . And we can see lose on some posts . Now let’s see if it will do the same

To do what?

day chart . We can see price rejection of the tl . So a break of that should see 2900 but remember confirm also to the low side is possible. .. look left supporters. Watch for fake outs also . We can see it told us it can break into it by the candle tail . But is it false hope .??? Or test it and short lower . Remember 2290 area is breakout confirm lower tl number . But I could be wrong . Regards to all . Hope you had a good week and commiserations to anybody lots .. I hope I spelt that right

It always depends when the price is breaking barriers. If that area broke before Tokyo on market open, it would be a false break and quickly reversed. If it breaks during Tokyo, Frankfurt/London will most probably reverse it, too. So it always depends...time and session are important. I think I will stay up late on sunday...I think some good trade opportunities will come.

Maybe a broken TL retest
Then look out below
Have a good weekend everyone.

Breakouts confirmed to high side of TL?
Your chart shows price below TL.

This TL retest will also coincide with a retest of Thursday's doji candle body.