Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#531,921
Jun 30, 2020 3:10am Jun 30, 2020 3:10am

Vincent1
Joined Aug 2019 | Status: Trader | 598 Posts

Quoting Roszey

Disliked

{quote} Double bottom. waiting for cuurent 4hr to close to confirm.

Ignored

Technically no, it isn't
IMHO

#531,922
Jun 30, 2020 3:16am Jun 30, 2020 3:16am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

...for me the 5min bearish hidden div formed on pullback from current dly lo was negated because it followed a L not LL on 1hr and not a LL in the overall 1hr + downtrend ie below yesterday's lo....so lower in probability of a successful outcome (whether it plays out or not) ...also only the steepest desc 1hr t/line as pot res - not pot supp becomes res. This said you wouldn't expect the bears to give up that easily ?

Trader with an Edge.

#531,923
Jun 30, 2020 3:19am Jun 30, 2020 3:19am

Roszey
Joined Nov 2013 | Status: Busy | 1,396 Posts

If 4hr CS closes above 2300 then the seller can say goodbye. For now, I am just waiting. Let PA talk.
The Current Weekly range is 137pips
The current MOnthly range is 561pip (Limit for the month reached.)

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Le$$ I$ More

#531,924
Jun 30, 2020 3:20am Jun 30, 2020 3:20am

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

Quoting Roszey

Disliked

If 4hr CS closes above 2300 then the seller can say goodbye. For now, I am just waiting. Let PA talk. The Current Weekly range is 137pips The current MOnthly range is 561pip (Limit for the month reached.) {image}

Ignored

Lots of confluences of resistance near your weekly high
It would be a great target for bulls

COT: The precious data ignored

#531,925
Jun 30, 2020 3:21am Jun 30, 2020 3:21am

harold1
Joined Jul 2018 | Status: patience and discipline | 172 Posts

will wait for a better confirmation for bull before getting in a position.. but its really looking good right now..

PATIENCE AND DISCIPLINE!

#531,926
Jun 30, 2020 3:23am Jun 30, 2020 3:23am

thatguy22
| Commercial User | Joined Feb 2015 | 492 Posts

Please consider taking a look at my Daily Market Update.
I provide trading ideas with potential stops and targets.

DXY starts at 0:03.
GBP/USD starts at 11:17.

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

Inserted Video

#531,927
Jun 30, 2020 3:26am Jun 30, 2020 3:26am

Roszey
Joined Nov 2013 | Status: Busy | 1,396 Posts

Quoting Vincent1

Disliked

{quote} Technically no, it isn't IMHO

Ignored

ok, then please enlighten me. I want to learn

Le$$ I$ More

#531,928
Edited 3:46am Jun 30, 2020 3:28am | Edited 3:46am

Theoak
Joined Apr 2019 | Status: Trader | 5,796 Posts

In my view. This is in no man's land at the moment. It could go bearish, Bullish or chop about all day. I hope this helps!

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Don't trade what you think. Just what you see!!!

#531,929
Jun 30, 2020 3:32am Jun 30, 2020 3:32am

epzero
Joined Oct 2019 | Status: Trader | 1,132 Posts

Quoting Theoak

Disliked

In my view. This is in no man's land at the moment. It could go bearish, Bullish or chop about all day. I hope this helps!

Ignored

your very correct

#531,930
Jun 30, 2020 3:40am Jun 30, 2020 3:40am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

double top on 5min and 10min bearish hidden div as well...then the drop - finding buyers at the LH's...how serious are the bulls now ?

Trader with an Edge.

#531,931
Edited 3:52am Jun 30, 2020 3:40am | Edited 3:52am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

1.12000 in the making

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yes yes yes

#531,932
Jun 30, 2020 3:53am Jun 30, 2020 3:53am

Roszey
Joined Nov 2013 | Status: Busy | 1,396 Posts

Quoting Moty

Disliked

1.12000 in the making {image} {image} {image}

Ignored

For once you held the postion for long. No offense. Just joking.

Le$$ I$ More

#531,933
Jun 30, 2020 3:54am Jun 30, 2020 3:54am

Vincent1
Joined Aug 2019 | Status: Trader | 598 Posts

Quoting Roszey

Disliked

{quote} ok, then please enlighten me. I want to learn

Ignored

I'm not good at explaining things but I can try
The Asian session alone is not enough time to confirm the distance between the two lows on H1 for a Double Bottom, it usually takes longer.
The volume of yesterday's low is not high enough to justify the end of a trend (there is still supply in the market), and the volume of the low made now is too high compared to yesterday's low to form a Double Bottom

I always prefer to say IMHO, I'm just a student, and like you I keep learning day by day from the market

#531,934
Jun 30, 2020 3:57am Jun 30, 2020 3:57am

Theoak
Joined Apr 2019 | Status: Trader | 5,796 Posts

Not taken this trade, but:

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Don't trade what you think. Just what you see!!!

#531,935
Jun 30, 2020 3:57am Jun 30, 2020 3:57am

Roszey
Joined Nov 2013 | Status: Busy | 1,396 Posts

If 2251 is taken out, then I will hunt my buy from 2200. The reason is Gu might have completed the 600 pips maximum monthly move. Surely buyers will attack from there.

see you in the next 4hr CS close to decide.
Cheers

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Le$$ I$ More

#531,936
Jun 30, 2020 4:00am Jun 30, 2020 4:00am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

....opposing candle close to the bullish hammer now 1hr. Take your pick ! 2hr closed as a bit of a doji -ish /spinning top with longer upper wick but not by much....enough to pick a side? 4hr bearish close here too.

Trader with an Edge.