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Cable Update (GBPUSD)

  • #592,541
  • May 2, 2021 6:02pm May 2, 2021 6:02pm
Hi Guys

I posted this on another thread but thought it would be of value to traders here. The Cable had very low volume last week and the major players had little interest in it till Friday. Most of their major traders occurred at the top of Friday's action but there was one very interesting action I traded.
They put a order block on price around 1.3890 and kept the Selling Density far higher than the attacking Buy orders density.

They were not going to let price bounce bullish so kept a blockaded at that price.
I would say volume around the drop on Friday was double any other volume last week.

Cheers
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Trading thin liquidity at the boundary of the charts
  • #592,542
  • May 2, 2021 6:12pm May 2, 2021 6:12pm
looking for indications of usd strength/weakness - dixy daily she didnt tap but was very close too ltl of expanding triangle and has pierced falling utl 91 29 has been resistance & support in the past so important level, uj again interesting levels, daily, potential H&S printing, presently same resistance levels of left shoulder 109 32ish, pa presently pierced above falling weekly utl, rejected 38fib pull back of bull train started december , just above same fib 50 now approx 9115, possible bear train reversal, bull train continuation sarted nov last year last year, question is has pullback completed waiting to continue north or is H&S proving and attack of neckline on the cards, very interesting pa levels :-) swissy 200 sma basi in place, last week printed doji eu last thursday doji with rejection of daily falling utl remember MAY MAY MAY "SELLOFF" !!!!!!!
If you are new to Forex? Say Goodbye to your account!!
  • #592,543
  • May 2, 2021 6:25pm May 2, 2021 6:25pm
it might retrace close to 3850 and then down again today.

IMO
Intraday only.
  • #592,544
  • May 2, 2021 6:55pm May 2, 2021 6:55pm
Quoting RickM
Hi Guys I posted this on another thread but thought it would be of value to traders here. The Cable had very low volume last week and the major players had little interest in it till Friday. Most of their major traders occurred at the top of Friday's action but there was one very interesting action I traded. They put a order block on price around 1.3890 and kept the Selling Density far higher than the attacking Buy orders density. They were not going to let price bounce bullish so kept a blockaded at that price. I would say volume around the drop...
This comment is so useful made very good points, I can't really say anything useful although I wish I could I'm still a beginner, I guess that is what I'm going to study next, Volumes and gaps. Cheers mate
  • #592,545
  • May 2, 2021 8:28pm May 2, 2021 8:28pm
GU

Scalping

waiting for rejection at SRF level or the next SNR level before LO


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  • #592,546
  • Edited 9:34pm May 2, 2021 9:00pm | Edited 9:34pm
1.38088 is a significant zone
Friday's candle don't promise anything like the candle that was on Wednesday, week and a half ago
This is the big picture look and the small picture look also for now
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yes yes yes
  • #592,547
  • May 2, 2021 10:15pm May 2, 2021 10:15pm
Quoting Sang.Real
GU Scalping waiting for rejection at SRF level or the next SNR level before LO {image}

GU

add to scalping a bit

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  • #592,548
  • May 2, 2021 10:17pm May 2, 2021 10:17pm
dix testing resistance 91 30?? low data, nfp week, trades will be hard to find, such important levels in play,
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  • #592,549
  • May 2, 2021 10:26pm May 2, 2021 10:26pm
Quoting Sang.Real
GU Scalping waiting for rejection at SRF level or the next SNR level before LO {image}
great. i wait retest to sbr.. and sort
Like me, cuts losses quickly. But has more patience and lets his winn
  • #592,550
  • May 3, 2021 12:34am May 3, 2021 12:34am
Quoting KiwiTrada
dix testing resistance 91 30?? low data, nfp week, trades will be hard to find, such important levels in play,
dix now 91 36 small pop into previous daily highs 91 42ish with daily 20 sma intersecting, will be tough but doable, with such low data, low volume, anything can happen!!!!
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  • #592,551
  • May 3, 2021 12:39am May 3, 2021 12:39am
Price will retest lowest and ready to the sky
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  • #592,552
  • May 3, 2021 1:25am May 3, 2021 1:25am
Quoting SCopier
Price will retest lowest and ready to the sky {image}
Is the 13780 area to bounce back still in play?
Insane in the Brain..
  • #592,553
  • May 3, 2021 1:27am May 3, 2021 1:27am
Will it work today
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  • #592,554
  • May 3, 2021 1:28am May 3, 2021 1:28am
We're on a 1h and daily demand level so wondering if we'll see some initial up movement, then watch the 1h supply levels overhead (1.387x,1.3905-1.3920). If it just crashes down here then need to rethink

We're dancing at the bottom of a huge 4h channel too, a decisive bounce or break might help with some direction. We're also at a resistance level on dxy
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  • #592,555
  • May 3, 2021 1:30am May 3, 2021 1:30am
Quoting SCopier
Price will retest lowest and ready to the sky {image}
Yes, will be nice to see 1.3950 again
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  • #592,556
  • May 3, 2021 1:38am May 3, 2021 1:38am
I don't know.. I don't think there's going to be a bounce like you're all hoping for. We will see but I think its more likely 137.50 tonight
  • #592,557
  • May 3, 2021 1:40am May 3, 2021 1:40am
Quoting Pretense
I don't know.. I don't think there's going to be a bounce like you're all hoping for. We will see but I think its more likely 137.50 tonight
Don't know either, and definitely not hoping, waiting for confirmation
  • #592,558
  • May 3, 2021 1:47am May 3, 2021 1:47am
I have Sell stops waiting sitting below 1.38 to increase position size on a dip
  • #592,559
  • May 3, 2021 1:49am May 3, 2021 1:49am
better not close below 1.37800 is prefreable , if below down must be heavy . the 2 channel on 2 possible moving .

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"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #592,560
  • May 3, 2021 2:03am May 3, 2021 2:03am
Quoting Wavegarrick
{quote} The round number 1.38000 should act as a nice springboard for a jump to 1.38500. a nice 50 pip scalp. I am looking at my future weekly pivot at 1.38608 ish - (pink high light) for a short trade next week. There is room and place for all traders in this market. Cheers guys. {image}
Hi Guys,
As per the above post, I am in with a contrarian buy trade from my confluence levels 61.8% fib retrace and 1.38000. I will see how this plays out. I am hoping for a test of my weekly pivot at 1.38662 to look for possible short trades.

Have a great week,
Cheers.
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