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Cable Update (GBPUSD)

  • #588,721
  • Apr 9, 2021 2:23am Apr 9, 2021 2:23am
Quoting gatenio
{quote} shabat shalom my brother!
shabat shalom to you too
yes yes yes
  • #588,722
  • Apr 9, 2021 2:31am Apr 9, 2021 2:31am
first for reversal make hammer (tf h4) with bullish bodi and break 1.37121
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The Average Discount Everything
  • #588,723
  • Apr 9, 2021 2:31am Apr 9, 2021 2:31am
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yes yes yes
  • #588,724
  • Apr 9, 2021 2:32am Apr 9, 2021 2:32am
Quoting Ihlas
{quote} I am sure that will will drop till 1.36500-1.36600. Then you will short?
This is my reasoning. I know nothing about EW so need someone experienced to confirm or deny.
Using this guide http://www.tradingfives.com/articles...wave-guide.htm
If 1.367 breaks and holds lower then I short
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Air force
  • #588,725
  • Apr 9, 2021 2:37am Apr 9, 2021 2:37am
The pound is one of the few currencies that can fundamentally confront the dollar. It seems to me there is no trend in it, only volatility
  • #588,726
  • Apr 9, 2021 2:37am Apr 9, 2021 2:37am
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Do more of what works and less of what doesn't
  • #588,727
  • Apr 9, 2021 2:38am Apr 9, 2021 2:38am
We are getting into the demand areas created by the beginning of Feb interest rate moves. Current zone has been attacked several times before so imo is likely to break this time. However we did form a reversal pattern on the 1min on this 1.36660-1.36887 area, there are likely a lot of orders stacked here. I'm looking at 1.35662-1.35931 next

Although as Ilvez pointed out we have hit the weekly range, further down might be a tough ask for this week
  • #588,728
  • Apr 9, 2021 2:40am Apr 9, 2021 2:40am
Quoting W0lfram
{quote} This is my reasoning. I know nothing about EW so need someone experienced to confirm or deny. Using this guide http://www.tradingfives.com/articles...wave-guide.htm If 1.367 breaks and holds lower then I short{image}

Okay. I got your intention.
I should never go against my target. Today was the lesson. Improvisation is good skill in trading.
But I am long till 1.39700
Price has unfinished business according to my analysis.
Wish you pips.
  • #588,729
  • Apr 9, 2021 2:45am Apr 9, 2021 2:45am
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Bearish flag perhaps ? i wanna see 1.36 before NY
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #588,730
  • Apr 9, 2021 2:48am Apr 9, 2021 2:48am
Quoting kris89
{image}Bearish flag perhaps ? i wanna see 1.36 before NY
Someone's ambitious...or deluded...
  • #588,731
  • Apr 9, 2021 2:50am Apr 9, 2021 2:50am
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  • #588,732
  • Apr 9, 2021 2:54am Apr 9, 2021 2:54am
Quoting pipfarm
{quote} 200 pips on GBPNZD so far 169k and now this one 47 pips 94k so far on this one GBPCAD (as i was writing just hit 100k) Cable will probably break 3700 later before a retest and down to 3564 which is the daily main structure low {image}

4H structure higher low swing now broken with a single swing so if price makes a swing up and breaks back down through 3700 we should see some more downside an around 3566 we have the daily higher low structure break point
Follow The Markets Structure - Patience and Discipline
  • #588,733
  • Apr 9, 2021 2:58am Apr 9, 2021 2:58am
Quoting pipfarm
{quote} 4H structure higher low swing now broken with a single swing so if price makes a swing up and breaks back down through 3700 we should see some more downside an around 3566 we have the daily higher low structure break point

If it rises till 1.37220, we will need much more drop. At least 1.36300. Max 1.36000.
As today is the last target day. Then up.
  • #588,734
  • Apr 9, 2021 3:01am Apr 9, 2021 3:01am
Quoting Ihlas
{quote} If it rises till 1.37220, we will need much more drop. At least 1.36300
Yea i'm also watching 1.372x-3x for more selling
  • #588,735
  • Apr 9, 2021 3:06am Apr 9, 2021 3:06am
Quoting mysterio
{quote} Yea i'm also watching 1.372x-3x for more selling
me too
out from short at 1.37000 area , 20 pips at that move
it can reverse before
i am waiting for the signal of the 10 lwma
bias is still bearish
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yes yes yes
  • #588,736
  • Apr 9, 2021 3:07am Apr 9, 2021 3:07am
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area of sell take one shot once
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #588,737
  • Apr 9, 2021 3:10am Apr 9, 2021 3:10am
GU price bounced from below weekly support 1.3680, might target my famous monthly support 1.3720s, """but breaking 1.3680 might be a sign that weakness will trigger later on..""only possible saver for bulls is very bearish weekly candle that might retrace up, now focus at 1.3720s turned resistance

More weakness will target 1.3750 first, below is quick weakness, while above 1.3720s will target 1.3760-80s
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #588,738
  • Apr 9, 2021 3:12am Apr 9, 2021 3:12am
UPDATE:
Obvious targets for downtown: 1.38200 (destroyed), 1.37700 (destroyed), 1.37400 (destroyed), 1.36900 (destroyed), 1.36600 (Final)
After the last target we have uptown shopping till 1.39700
Obvious target for uptown: 1.39000, 1.39700
Have a good day
  • #588,739
  • Apr 9, 2021 3:12am Apr 9, 2021 3:12am
As long as H4 is bearish..just my take on this
If now it breaks below 1.3690 then it will reach at least 1.3645
Otherwise maximum retracement can happen until 1.3738
My observation may be wrong but intent correct. Stay calm!
  • #588,740
  • Apr 9, 2021 3:13am Apr 9, 2021 3:13am
Quoting Moty
{quote} me too out from short at 1.37000 area , 20 pips at that move it can reverse before i am waiting for the signal of the 10 lwma bias is still bearish {image}
signal , we need a double bottom at least
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took a short on gold with mini lot
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yes yes yes
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