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Cable Update (GBPUSD)

  • #575,001
  • Jan 29, 2021 4:28am Jan 29, 2021 4:28am
... re the 1hr bullish hidden div below, 1. What trend is it signalling an entry into after the pullback ? ie there is no trend on next higher t/f - 4hr, it is ranging, and 2. It came off a 30min prev sw hi zone =prev res = pot rbs and a 76.4% fib of y/day's rise, but really and optimally it is better @ a prev 4hr sw hi zone ie the next higher t/f...but who knows it could play out for a follow thru above y/day's hi ? I got long there anyway, but I'm a scalper so don't care whether it does or doesn't.
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Trader with an Edge.
  • #575,002
  • Jan 29, 2021 4:32am Jan 29, 2021 4:32am
Quoting fxmasterdxb
{quote} Could be a bull trap, not sure only close above 1.3720 is considered as confirmation this pair has given me headache, bouncing up and down at unexpected prices as per my strategy
@moment i see it better as a BEAR CAGE than BULL TRAP we will see
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  • #575,003
  • Edited 4:58am Jan 29, 2021 4:35am | Edited 4:58am
Taking the bull bait, bottom of a wedge on 4h tf, and we have formed a mini wedge with divergence there, 1.3676 buy, 15 pip SL looking for new highs

Edit- close to daily R1 would be great .... stop to BE, will re-enter if it retests
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  • #575,004
  • Jan 29, 2021 4:36am Jan 29, 2021 4:36am
Quoting Headland
{quote} 1, 3 and 5min regular bullish div and 1hr hidden bullish div @ that lo on my osc's..but whether it will play out for a big target is anyone's guess. 5min below by way of eg. {image}
Long now ... Target 1.3690
Don't trade what you think. Just what you see!!!
  • #575,005
  • Jan 29, 2021 4:37am Jan 29, 2021 4:37am
...nice! ...potential 1hr + upside obstacles as below.
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Trader with an Edge.
  • #575,006
  • Jan 29, 2021 4:38am Jan 29, 2021 4:38am
buy - 1.3684

stop loss - 1.3650
Together we can be strongest
Vantage Return This Month: -97.0%
  • #575,007
  • Jan 29, 2021 4:41am Jan 29, 2021 4:41am
Quoting palpite
buy - 1.3684 stop loss - 1.3650
my SL set to that too
Insane in the Brain..
  • #575,008
  • Jan 29, 2021 4:42am Jan 29, 2021 4:42am
Quoting helioss
My battleplan. On H4 we are on potetial reversal Zone, divergence BULLISH on ITM RR:1:2 {image}
Closed +20 Volumes DON'T LIE
  • #575,009
  • Jan 29, 2021 4:47am Jan 29, 2021 4:47am
Now let's see next move: i think retest .367 and then we will know is bull are strong or bear cage will be open
  • #575,010
  • Jan 29, 2021 4:49am Jan 29, 2021 4:49am
This SW zone is kind of giving bears a hard time.
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Le$$ I$ More
  • #575,011
  • Jan 29, 2021 4:53am Jan 29, 2021 4:53am
Quoting Roszey
This SW zone is kind of giving bears a hard time. {image}
Hoping for a re-test or hit that circle....
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Lost....
  • #575,012
  • Jan 29, 2021 4:57am Jan 29, 2021 4:57am
I had my eye on that as well but was not hit so no deal. But the bounce up has been too strong and I would be very careful if price comes down to test the line again, or break it.

Quoting gespiri
{quote} Hoping for a re-test or hit that circle.... {image}
  • #575,013
  • Jan 29, 2021 5:03am Jan 29, 2021 5:03am
Building up my position, will add further once we close above 1.3720
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  • #575,014
  • Jan 29, 2021 5:07am Jan 29, 2021 5:07am
..struggling @ the 38.2% of fall from y/day's hi - today's current lo atm, but for the bulls - a solid 1hr bullish hammer engulfing close a few mins ago. 1hr below.
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Trader with an Edge.
  • #575,015
  • Jan 29, 2021 5:10am Jan 29, 2021 5:10am
Quoting fxmasterdxb
Could it be the reversal? {image}
Yes, it is a reversal because the price has hit 23.6% fib (1.36574) from yesterday move upwards.
WT
  • #575,016
  • Jan 29, 2021 5:11am Jan 29, 2021 5:11am
Quoting fxmasterdxb
Building up my position, will add further once we close above 1.3720 {image}
I am afraid we could not go above 1.37017...
WT
  • #575,017
  • Edited 5:41am Jan 29, 2021 5:12am | Edited 5:41am
took a long for 20 pips... other than that closed all the longs on gold nice gains.... as per my trading experience on friday we mostly have both side actions....be safe everyone....
Extreme gut feeling trader
  • #575,018
  • Jan 29, 2021 5:15am Jan 29, 2021 5:15am
Quoting Bartosz77
{quote} Yes, it is a reversal because the price has hit 23.6% fib (1.36574) from yesterday move upwards.
you are plotting your fibs upside down - it is the 76.4% not 23.6% (same thing I know re 100-76.4% -vs- 100-23.6%) but it is the 76.4% ie plotting a move up from the lo-hi of the upmove, not hi-lo of the move. And vice-versa.
Trader with an Edge.
  • #575,019
  • Jan 29, 2021 5:19am Jan 29, 2021 5:19am
Quoting Bartosz77
{quote} I am afraid we could not go above 1.37017...
Too early to tell where will this terminate, I think bulls has still some fuel to push price higher
  • #575,020
  • Jan 29, 2021 5:20am Jan 29, 2021 5:20am
Quoting Bartosz77
{quote} Yes, it is a reversal because the price has hit 23.6% fib (1.36574) from yesterday move upwards.
Not quite right, as explained by Headland its 76.4% fib
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