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Cable Update (GBPUSD)

  • #577,401
  • Feb 11, 2021 2:20am Feb 11, 2021 2:20am
Quoting Sang.Real
{quote} GU Limit Order filled at London Open. SL in place. Any comment and ideas are welcome. Thank You {image}
It is a double top neckline which is the only issue, you will likely get a reaction but trade carefully in case it breaks. (I think it will break but just imo)
  • #577,402
  • Feb 11, 2021 2:20am Feb 11, 2021 2:20am
Maybe will return here?
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Unfortunately, could be this one, as well...
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Maadik Hugiis. IQ 69.
  • #577,403
  • Feb 11, 2021 2:24am Feb 11, 2021 2:24am
Quoting MoneyZilla
Maybe will return here? {image}

Thanks MZ.

Very smart trader.

wish you the best in making more green babies pips.....
  • #577,404
  • Feb 11, 2021 2:29am Feb 11, 2021 2:29am
https://www.tradingview.com/x/SpJWOOhy/
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  • #577,405
  • Feb 11, 2021 2:31am Feb 11, 2021 2:31am
Quoting Sang.Real
{quote} GU Limit Order filled at London Open. SL in place. Any comment and ideas are welcome. Thank You {image}
Setting aside whether that zone you highlight in yellow is 'relevant' or not, the trouble with using limit orders is that you don't get the chance to assess how price reacts to a level re PA / other technical studies when it reaches it, even on t/f's below that the zone you are hoping will act as support or resistance is on...so you have no idea whether there is a better chance of a break through it (in this case to the downside) or a bounce from it, the order just puts you in the market. Also as someone pointed out above your limit order took no account of the potential importance of what happened above it - in this case that rejection of the prev 1hr/4hr swing hi zone leading to y/day's 3866 hi.

Good Luck with it...what will happen will happen, none of us know.
Trader with an Edge.
  • #577,406
  • Feb 11, 2021 2:31am Feb 11, 2021 2:31am
3800 in my mind
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Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #577,407
  • Feb 11, 2021 2:31am Feb 11, 2021 2:31am
wish that this down moment in GU is now real and keep moving towards 1.35000 in 5-7 days ahead!!
hope the HIGH OF MONTH is fixed!! "but who can be so sure, so I am not sure"
  • #577,408
  • Feb 11, 2021 2:35am Feb 11, 2021 2:35am
Quoting Moty
Come on mf {image}
Ride start brother
  • #577,409
  • Feb 11, 2021 2:35am Feb 11, 2021 2:35am
Generally, what I have seen that.. Market comes down with speed, but when it goes up, it goes slowly slowly..
People may be keep buying and this keeps going down...
  • #577,410
  • Feb 11, 2021 2:38am Feb 11, 2021 2:38am
Quoting Sang.Real
{quote} GU Limit Order filled at London Open. SL in place. Any comment and ideas are welcome. Thank You {image}

...re the level - there are better lol ! it was a 30min level at best and a minor one at that...why for eg did you not short from the rejection of the prev 1hr/4hr swing hi zone leading to y/day's 3866 hi ? ...now that was a better level and it got a solid reaction/bounce down from it with hi-prob entries re even just PA alone on 5min-1hr.
Trader with an Edge.
  • #577,411
  • Feb 11, 2021 2:38am Feb 11, 2021 2:38am
  •  Rgkc
  • | Joined Dec 2010 | Status: Never stop learning about forex! | 419 Posts
Quoting pipcenturion
1.36122 on my mind. Trade safe everyone!
I wait the same
Studing..............
  • #577,412
  • Edited 3:08am Feb 11, 2021 2:39am | Edited 3:08am

edit: pretty solid break of pennant lower tl. Bullish order block @ ~1.381, need to break it first
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Air force
  • #577,413
  • Feb 11, 2021 2:40am Feb 11, 2021 2:40am
Weakness
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  • #577,414
  • Feb 11, 2021 2:51am Feb 11, 2021 2:51am
all about yesterday low, 1.3802X
i believe we will test\break it 2:50 hours from now (MAXIMUM)
  • #577,415
  • Feb 11, 2021 3:00am Feb 11, 2021 3:00am
Pending sell 1.38380. I believe we are in a semi correction before shooting up again for the final time.
Key areas to watch for me are 1.3775x and 1.375xx.
If price shoots up again without correction then will just wait on the sidelines.
  • #577,416
  • Feb 11, 2021 3:04am Feb 11, 2021 3:04am
Quoting Moty
Come on mf {image}
Moty, show me your hammer. What does the hammer say, can it reach 1.3775 today???
  • #577,417
  • Feb 11, 2021 3:09am Feb 11, 2021 3:09am
We can retest the M neckline anywhere up to 1.383x before dropping again
  • #577,418
  • Feb 11, 2021 3:25am Feb 11, 2021 3:25am
Quoting mysterio
We can retest the M neckline anywhere up to 1.383x before dropping again
look like all bears wishes going to collapse
  • #577,419
  • Feb 11, 2021 3:27am Feb 11, 2021 3:27am
Quoting gatenio
{quote} look like all bears wishes going to collapse
that drop was such a tease ! However not to say there won’t be another drop anytime soon
Insane in the Brain..
  • #577,420
  • Feb 11, 2021 3:27am Feb 11, 2021 3:27am
Quoting gatenio
{quote} look like all bears wishes going to collapse
Not necessarily, I believe it will drop from either 1.3831 or 1.3842.. could be wrong

Note DXY is forming a triangle. it is at the bottom edge currently. If it breaks down i'll potentially exit GU shorts.
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