Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#581,941
Mar 4, 2021 4:59am Mar 4, 2021 4:59am

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

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yes yes yes

#581,942
Mar 4, 2021 5:01am Mar 4, 2021 5:01am

littspaniard
Joined Mar 2011 | Status: moving | 3,642 Posts

long on support

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The only constant is change

#581,943
Mar 4, 2021 5:04am Mar 4, 2021 5:04am

Headland
Joined Apr 2020 | Status: Trader | 8,809 Posts

...current dly lo @ that prev 30min sw lo and 61.8% 3859-4006 becomes a 1hr prev sw lo now = prev supp=pot supp...nice 1min, 3min, 5min, 30min, 1hr regular bullish div there too as price breaks just north of that 1st ppa (potential problem area) the prev 1hr/4hr sw lo's = prev supp = pot sbr to 3939. 1hr below.

1hr hammer close but that t/f still rangy.

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Trader with an Edge.

#581,944
Mar 4, 2021 5:06am Mar 4, 2021 5:06am

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

Quoting pipfarm

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3972 is now the minor resistance within the larger degree down swing that needs to break to take us up

Ignored

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Follow The Markets Structure - Patience and Discipline

#581,945
Edited 5:45am Mar 4, 2021 5:09am | Edited 5:45am

mysterio
Joined Sep 2009 | Status: Trader | 6,009 Posts

Quoting DrDave

Disliked

{quote} To me, this seems like rather odd logic for trading. Instead of "trying" an entry that "may be wrong", isn't it more logical to LOOK for signs that a turn has actually OCCURRED on a smaller TF that would support your initial guess so that it becomes a probable success? I see exactly nothing at all on M1 showing a bottom at the time that you posted, let alone leaving an up trail to follow.

Ignored

Hey, yea I could see an accumulation going on in the 5m chart and support in the area. We were in supply and the top of a wedge on dxy. I had good confidence in it - I meant I may be wrong in the future medium term movement. I'm just scalping for 20-60 pips a time usually. We dont have the same trading methodologies so I wouldn't expect you to align with me all of the time. In a sense we may be wrong when we take any trade i'm just stating the obvious. Thanks for the comment though

Anyways just took 12 pips on this one. I have met my target so I'm going to wait for the real move later on.

Re-entered on the retest around the same price, stop to BE. We still have some bullish movement to complete, DXY retraced to the supply

And out, another +12. 52 pips/5xR on the day so far which is fine for such weak PA

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#581,946
Mar 4, 2021 5:09am Mar 4, 2021 5:09am

Headland
Joined Apr 2020 | Status: Trader | 8,809 Posts

Quoting pipfarm

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{quote} {image}

Ignored

Hi, so do you think if it breaks that area you mention that it will have a good chance of clearing the prev 1hr/4hr swing hi x 2 zone leading up to y/day's 4006 hi (which is 38.2% 4242-3859) ?

Trader with an Edge.

#581,947
Mar 4, 2021 5:13am Mar 4, 2021 5:13am

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

Waiting for some north momentum and will try a long!!!!

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

#581,948
Mar 4, 2021 5:13am Mar 4, 2021 5:13am

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

last hourly candle broke up , let's see if it continue

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yes yes yes

#581,949
Edited 6:37am Mar 4, 2021 5:16am | Edited 6:37am

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

Quoting Headland

Disliked

{quote} Hi, so do you think if it breaks that area you mention that it will have a good chance of clearing the prev 1hr/4hr swing hi x 2 zone leading up to y/day's 4006 hi (which is 38.2% 4242-3859) ?

Ignored

I would be looking for a reaction at the prior larger degree swing @ 3991 , the first attempt to break it failed which is the 4006 high you mention.

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Follow The Markets Structure - Patience and Discipline

#581,950
Mar 4, 2021 5:22am Mar 4, 2021 5:22am

vanca
Joined Dec 2016 | Status: Trader | 122 Posts

Risky trade, at the moment on x3, aiming 1.39577-1.39634 (x9-x10), up there will be my pending short

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patience, patience, patience and after that more patience

#581,951
Mar 4, 2021 5:24am Mar 4, 2021 5:24am

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

Quoting Theoak

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Waiting for some north momentum and will try a long!!!!

Ignored

Triple bottom on 5 min target 20 pips ish

In at 1.3934 long

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

#581,952
Mar 4, 2021 5:29am Mar 4, 2021 5:29am

Headland
Joined Apr 2020 | Status: Trader | 8,809 Posts

Quoting pipfarm

Disliked

{quote} I would be look for a reaction at the prior larger degree swing @ 3991 , the first attempt to break it failed which is the 4006 high you mention. {image}

Ignored

thx....that's a wide zone now ie the prev 1hr/4hr sw hi x 2 zone anything from 3985-4006 (that 38.2% fib 4242-3859.) 1hr below shows it in dark grey. Dly R1 running through it.

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