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Cable Update (GBPUSD)

  • #541,781
  • Aug 10, 2020 4:34am Aug 10, 2020 4:34am
Quoting Wavegarrick
{quote} Hi Guys, From a 4hr perspective, it is clear that GU could be going into a correctional phase. My future weekly pivot sitting currently at 1.30697 ish. If my weekly candle closes above 1.31000 I retract all I am saying here and would look for buy trades only in the new week. However, we all know that what goes up must come down, so I will look for shorts below 1.30697 next week. I have a confluence of supports between 1.2908, my yearly pivot, and my monthly pivot at 1.28687 and by my calculations, my weekly support will be around this area....
Hi Guys,
I am in with 2 shorts to start the week. Price currently flirting with my weekly pivot at 1.30728. If we have a 4 hourly close in 151 minutes from now, above my weekly pivot I would start getting a bit concerned with my shorts and more so a clear break above 1.31000.

Have a great week
Cheers.
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Trade to trade another day
  • #541,782
  • Aug 10, 2020 4:42am Aug 10, 2020 4:42am
Quoting gatenio
{quote} im in... waiting for the spike
hope bears didnt fool me.. didnt manage to close it
  • #541,783
  • Aug 10, 2020 4:47am Aug 10, 2020 4:47am
Cable very strenght than it peers.
No Pain, No Gain
  • #541,784
  • Aug 10, 2020 4:49am Aug 10, 2020 4:49am
Waiting for the hourly close, depending on how that closes will take the money wave (c) of abc short, support 3009/demand zone around 2979
Follow The Markets Structure - Patience and Discipline
  • #541,785
  • Aug 10, 2020 4:52am Aug 10, 2020 4:52am
No emotional attachment
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  • #541,786
  • Aug 10, 2020 4:57am Aug 10, 2020 4:57am
Quoting JayBag
{quote} Well, I had that idea but PA was like get that out of your head.. Currently short. Will have the mind to hold if/when we break below 1.30125 on H1 (A break below 1.30125 might bring in that double top effect) You might wanna join shorts if we break that 1.30125? SS
its very shaky up and down right now but i keep seeing it holding above 45-60 zone
i agree a break down below that zone would change my bias
in wondering about yourself, you forgot what you came here to be part of
  • #541,787
  • Aug 10, 2020 4:58am Aug 10, 2020 4:58am
Quoting Theoak
{quote} With you Bud. If this can go up a bit higher out of this chop!!
agreed after chop
in wondering about yourself, you forgot what you came here to be part of
  • #541,788
  • Aug 10, 2020 4:59am Aug 10, 2020 4:59am
Quoting gatenio
{quote} nope.. i have some R on h4.. this is the only thing is make me shaky on the buy button.
i have 3082-ish on H4 as R
in wondering about yourself, you forgot what you came here to be part of
  • #541,789
  • Aug 10, 2020 5:00am Aug 10, 2020 5:00am
Quoting pipfarm
Waiting for the hourly close, depending on how that closes will take the money wave (c) of abc short, support 3009/demand zone around 2979

Not happy with that close , will wait another hour
Follow The Markets Structure - Patience and Discipline
  • #541,790
  • Aug 10, 2020 5:04am Aug 10, 2020 5:04am
trading without plan, not the best entry,but fibo levels with my resistant levels working today, see some confluence, of course needed to do this sunday, today would be easier
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  • #541,791
  • Aug 10, 2020 5:17am Aug 10, 2020 5:17am
Quoting knkie
{quote} i have 3082-ish on H4 as R
yeah, made a greedy mistake, im looking to drop it
  • #541,792
  • Edited 5:35am Aug 10, 2020 5:18am | Edited 5:35am
you know the drill
sell new hourly low after lo at a downtrend
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yes yes yes
  • #541,793
  • Aug 10, 2020 5:25am Aug 10, 2020 5:25am
bears surely stronger than before, lets see
edit: and just wait, my charts may get crazy lol
  • #541,794
  • Aug 10, 2020 5:28am Aug 10, 2020 5:28am
need to sell higher, probably head and shoulder forming
  • #541,795
  • Aug 10, 2020 5:40am Aug 10, 2020 5:40am
Quoting goldencalf
need to sell higher, probably head and shoulder forming
it can skip the right shoulder
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yes yes yes
  • #541,796
  • Aug 10, 2020 5:43am Aug 10, 2020 5:43am
Quoting Moty
{quote} it can skip the right shoulder {image}
yes, its already got 2 15min bearish candles, and at last closed behind my support, so it clear
  • #541,797
  • Aug 10, 2020 5:56am Aug 10, 2020 5:56am
Finally everyone in this thread is singing from the same hymn sheet- even "The Moment of Truth"
  • #541,798
  • Aug 10, 2020 6:02am Aug 10, 2020 6:02am
when spike is coming? NY?
  • #541,799
  • Aug 10, 2020 6:03am Aug 10, 2020 6:03am
Quoting pipfarm
{quote} Not happy with that close , will wait another hour

This close is good , too late now for me to short as the stop would be too large, ce la vie, might be able to short gbpjpy after the next hour

immediate support 3009 low
demand zone 2981
Follow The Markets Structure - Patience and Discipline
  • #541,800
  • Aug 10, 2020 6:08am Aug 10, 2020 6:08am
Good morning to all
Price almost coming to importatant place, will be looking for buys in Ny
Expecting to go to 1.29800, will start looking there if prices reacts to go up
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