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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Quoting mysterio
Sold here, locked in at BE already, TP open {image}
... yeh, just popped above that prev 4hr sw lo zone=prev supp=pot sbr and hit the 85.4% 3886-17.
Intraday (mainly) swing scalper (+,) via a Supp/Res & PA based edge.
Quoting Wavegarrick
{quote} Hi Guys, Unfortunately, Fomc took my sell trail stops for a small profit on Wednesday the 17th. I was almost convinced that we could swing to the top provided we broke 1.4000 with a daily close above. It did not happen and I sat out yesterday...Too many if's. Today it became more clear and I got in with the mid-round number at 1.39500 and also the 50% fib retrace of the Fomc upmove and the 38.2% Fib retrace of the recent swing high to swing low. Thanks, Shahab8. I am learning immensely from you. I am also in a down cycle, so this gave me...
Sell trades opened. 25 pip stoploss.
Have a great week
Cheers.
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Trade to trade another day
the drop is coming
unbelievable , the same move
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Quoting Kaysole
{quote} Hi BeeTogether, I agree with you that there seems to be a lot of resistance in that area (especially 1.3890), but I don't think Powell's speech will make much of an impact today as we've had the FOMC Press Conference last week as well as a speech on Thursday. So I doubt that he would have anything new to say. Of course, I could be wrong. As for the sliding SL, I rarely change it as from my experience (in my style of trading), it usually works against me in the long run and apart from that, I also see the possibility of price coming down...
Just to remind you. The 10 years yield jumped from 1.673 to 1.693 moments ago. This could make dxy rise and GU drop. This may not happen right way but it is quite possible!
Quoting mysterio
Sold here, locked in at BE already, TP open {image}
Me too! Entered at 1.38740 once DXY gap was closed.
I think we will see gu down until 1.37700.
But my major plan gu is still UP.
The best way I always do to trade in news..
Put small amount.
Open and just leave it with TP.
And get your cookies.
Let see soon
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Quoting Benton
{quote} Just to remind you. The 10 years yield jumped from 1.673 to 1.693 moments ago. This could make dxy rise and GU drop. This may not happen right way but it is quite possible!
I used to follow yields rigorously a few years ago, but it just wasn't worth the hassle in my opinion. I agree that they definitely have an impact on exchange rates, especially in the long term, but as far as intraday movement is concerned, not so much. Again, this is my observation only; some of you might have had extreme success with it.

But you are right, it's quite possible that GU could tank. Thanks for the heads up Benton.
...although we have 1hr bearish hidden div @ the current dly hi (as referred to earlier) - that 1hr pattern is probably a bit too big/long to be a bear flag? Don't know.

1hr below.
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Intraday (mainly) swing scalper (+,) via a Supp/Res & PA based edge.
if tank
GU normal PA is to test back 1.3900
if rejected then could tank
Quoting lockstockd
{quote} Me too! Entered at 1.38740 once DXY gap was closed.
Good luck to us!. Was watching for that bounce at the end of the gap, too. On the 50pc fib.

I got 3871. On my chart there is a small M pattern with divergence developing within a larger M. As well as the 0.382 retrace level and a confluence of TLs

We have T yields starting to spike in a demand zone too
Quoting Kaysole
{quote} I used to follow yields rigorously a few years ago, but it just wasn't worth the hassle in my opinion. I agree that they definitely have an impact on exchange rates, especially in the long term, but as far as intraday movement is concerned, not so much. Again, this is my observation only; some of you might have had extreme success with it. But you are right, it's quite possible that GU could tank. Thanks for the heads up Benton.

I have had the same experience trying to use that and dxy as a leading indicator for gbpusd, many years ago, but wasn't sufficiently robust to call it an edge...But the bond market is very febrile at the moment so it's worth just keeping an eye on sometimes.
Intraday (mainly) swing scalper (+,) via a Supp/Res & PA based edge.
the break is here
Powell in 10 minutes
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Quoting klm1011
{quote} ........are there any spin offs of this Donchian channels..................? thanks
You have increased the requirement for posting on EURUSD Club to medium which means I won't be able to post. I hope I didn't cause inconvenience, I enjoyed posting on that thread.
Risk Management is of utmost importance!
Quoting klm1011
{quote} ........are there any spin offs of this Donchian channels..................? thanks
You have increased the requirement for posting on EURUSD Club to medium impact which means I won't be able to post. I hope I didn't cause inconvenience, I enjoyed posting on that thread.
Risk Management is of utmost importance!
... the prev 1hr sw lo x 2 zone =prev supp=pot supp the current downside potential obstacle to price....Downside breach of steepest 1hr asc t/line now 1hr below.
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Intraday (mainly) swing scalper (+,) via a Supp/Res & PA based edge.
Quoting mysterio
{quote} Good luck to us!. Was watching for that bounce at the end of the gap, too. On the 50pc fib. I got 3871. On my chart there is a small M pattern with divergence developing within a larger M. As well as the 0.382 retrace level and a confluence of TLs We have T yields starting to spike in a demand zone too
So far so good! Hopefully we can break 1.38 today, let's see.
Quoting Headland
{quote} I have had the same experience trying to use that and dxy as a leading indicator for gbpusd, many years ago, but wasn't sufficiently robust to call it an edge...But the bond market is very febrile at the moment so it's worth just keeping an eye on sometimes.
Yeah, I wasn't able to build a solid strategy around it either. At times, it would lead price, but at others, price would behave contrary to what was expected (even hundreds of pips).

But it is definitely worth keeping an eye on at least.
Quoting lockstockd
{quote} So far so good! Hopefully we can break 1.38 today, let's see.
Trying to figure out my TP. Although my ultimate target is around 1.37 I'll probably close this at 1.3811
... 1hr bearish close. 4hr bearish engulf close. 4hr below.
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Intraday (mainly) swing scalper (+,) via a Supp/Res & PA based edge.
And boom there we are...
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