Everyone can see the chart, but only a few can actually read it.
Cable Update (GBPUSD)
- #535,021
- Jul 12, 2020 3:17pm Jul 12, 2020 3:17pm
- Joined May 2014 | Status: From1toMillion | 9,471 Posts | Online Now
- #535,022
- Jul 12, 2020 3:17pm Jul 12, 2020 3:17pm
- Joined Dec 2013 | Status: Trader | 19,815 Posts
{quote} What broker is that? I thought banks don't process payments over the weekend. Maybe SEPA?
- #535,023
- Jul 12, 2020 3:23pm Jul 12, 2020 3:23pm
- Joined May 2014 | Status: From1toMillion | 9,471 Posts | Online Now
Everyone can see the chart, but only a few can actually read it.
- #535,025
- Jul 12, 2020 3:26pm Jul 12, 2020 3:26pm
- Joined May 2014 | Status: From1toMillion | 9,471 Posts | Online Now
Everyone can see the chart, but only a few can actually read it.
- #535,026
- Jul 12, 2020 3:27pm Jul 12, 2020 3:27pm
- Joined Apr 2020 | Status: Risk -> Coffee -> Profit -> Repeat | 1,380 Posts
WARNING: This post warps space and time in its vicinity.
- #535,028
- Jul 12, 2020 3:53pm Jul 12, 2020 3:53pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts
If you are tracking the GBPUSD this week, consider this technical perspective from primarily a swing trader.
GBPUSD price action from June 16 has created a ‘W’ pattern on the daily time frame and technically we may see a bearish pullback. But this may have to await a bullish move to the 1.27650 area to complete an ‘extended’ right leg up. At any rate, we should await what price action does in the early part of this week. Notice that the 1.27650 area is the prevailing horizontal resistance. On the H4 time frame, price action is within a rising channel on the H4 time frame. The candlestick prints during the 4-Hour sessions last Friday were bullish, but they were predominantly of small size and ‘wicky’. This indicates a decline in bullish momentum. Presently, price action is struggling around the 1.26600 minor horizontal resistance area. They may find it difficult to break above the major horizontal resistance around 1.27650, particularly as bears have increased their influence given the significant bearish prints towards the end of last week.
I may be wrong. Trade safe and prosper.
KP
GBPUSD price action from June 16 has created a ‘W’ pattern on the daily time frame and technically we may see a bearish pullback. But this may have to await a bullish move to the 1.27650 area to complete an ‘extended’ right leg up. At any rate, we should await what price action does in the early part of this week. Notice that the 1.27650 area is the prevailing horizontal resistance. On the H4 time frame, price action is within a rising channel on the H4 time frame. The candlestick prints during the 4-Hour sessions last Friday were bullish, but they were predominantly of small size and ‘wicky’. This indicates a decline in bullish momentum. Presently, price action is struggling around the 1.26600 minor horizontal resistance area. They may find it difficult to break above the major horizontal resistance around 1.27650, particularly as bears have increased their influence given the significant bearish prints towards the end of last week.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #535,029
- Jul 12, 2020 3:56pm Jul 12, 2020 3:56pm
- Joined May 2017 | Status: Intermediate Trader | 6,412 Posts
Extreme gut feeling trader
- #535,031
- Jul 12, 2020 5:17pm Jul 12, 2020 5:17pm
- Joined Apr 2012 | Status: Stunning | 6,815 Posts
in wondering about yourself, you forgot what you came here to be part of
- #535,032
- Edited 5:44pm Jul 12, 2020 5:24pm | Edited 5:44pm
- Joined May 2017 | Status: Intermediate Trader | 6,412 Posts
Extreme gut feeling trader
- #535,033
- Jul 12, 2020 6:23pm Jul 12, 2020 6:23pm
- Joined May 2017 | Status: Intermediate Trader | 6,412 Posts
Extreme gut feeling trader
- #535,034
- Jul 12, 2020 7:28pm Jul 12, 2020 7:28pm
- Joined Oct 2010 | Status: Trader | 21,478 Posts
Intraday only.
- #535,035
- Jul 12, 2020 7:40pm Jul 12, 2020 7:40pm
- | Commercial User | Joined Feb 2017 | 24,065 Posts
{quote} check my demo thread. https://www.forexfactory.com/showthr...5#post13055115 I am with you. Long GU
️
just for a cup of coffee...
- #535,036
- Jul 12, 2020 7:42pm Jul 12, 2020 7:42pm
- Joined Oct 2010 | Status: Trader | 21,478 Posts
{quote} still wait to discuss at 2680 with my hot coffee
Second exit 2715
Intraday only.
- #535,038
- Jul 12, 2020 7:52pm Jul 12, 2020 7:52pm
- Joined Jan 2019 | Status: Trader | 2,656 Posts
Don't compare your trades to others. Most often the masses are the asses
- #535,040
- Edited 9:29pm Jul 12, 2020 8:47pm | Edited 9:29pm
- Joined Oct 2010 | Status: Trader | 21,478 Posts
Intraday only.