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Cable Update (GBPUSD)

  • #596,761
  • May 21, 2021 2:23pm May 21, 2021 2:23pm
GU in proccess going to 1.4426

Here is GU Monthly Chart with Yearly Pivot

ServerUang
Attached Image (click to enlarge)
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  • #596,762
  • May 21, 2021 3:07pm May 21, 2021 3:07pm
Quoting ServerUang
GU in proccess going to 1.4426 Here is GU Monthly Chart with Yearly Pivot ServerUang {image}
with all my respect to other's opinions

this chart doesn't confirm that she is going to 1.4426
have you received a letter from her (?)



have a nice weekend
dolce vita
  • #596,763
  • May 21, 2021 3:24pm May 21, 2021 3:24pm
Cable consolidating within the monthly zone.
Attached Image(s) (click to enlarge)
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Compulsions can be hard to resist
  • #596,764
  • May 21, 2021 4:01pm May 21, 2021 4:01pm
Got some weekly tails forming
Attached Image(s) (click to enlarge)
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Compulsions can be hard to resist
  • #596,765
  • May 21, 2021 4:23pm May 21, 2021 4:23pm
Quoting KiwiTrada
{quote} my R/R is 1-5 irrespective of entry point, if I dont see 1-5 potential is no entry, i am also looking to enter short geppy :-) daily has nice rising channel @ resistance & utl of channel this has een building over last nine days I have been extremely patient with her, but ready to enter
achieved R/R gu 85 pips (17 pip sl) gj 55 pips (11 pip sl) AU 55 pips NU 55 pips (13 pip sl) gu -17 pip sl clipped overall good day
Have I picked a top of reversal / who knows, train has passengers so im not the only one, will it leave station / who knows, my focus has been gold and copper longer term
have a nice weekend, ready for battle next week
If you are new to Forex? Say Goodbye to your account!!
  • #596,766
  • May 21, 2021 5:14pm May 21, 2021 5:14pm
Quoting ServerUang
GU in proccess going to 1.4426 Here is GU Monthly Chart with Yearly Pivot ServerUang {image}
You look too far,,except u are monthly trader
  • #596,767
  • May 21, 2021 5:15pm May 21, 2021 5:15pm
Looks bullish on all tf's to me.
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"A true speculator tries the market small." - Jesse Livermore
  • #596,768
  • May 21, 2021 5:22pm May 21, 2021 5:22pm
MA200 at m30 hold price very well 1.4155.
I think we will see little bounce up with 1.4200 max at monday,
Then price will break it and test ma200 at H1 1.4120 if break again we can see 1.4000 in next week.
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  • #596,769
  • May 21, 2021 5:36pm May 21, 2021 5:36pm
Get a bounce off support around 1.4149.

Rsi is super bullish and holding 50ish.
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"A true speculator tries the market small." - Jesse Livermore
  • #596,770
  • May 21, 2021 5:37pm May 21, 2021 5:37pm
Quoting Jgcole83
Looks bullish on all tf's to me. {image} {image} {image}
Thanks for that weekly chart , it Reminded me of the significance of 1.40
Attached Image (click to enlarge)
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Compulsions can be hard to resist
  • #596,771
  • Edited May 22, 2021 8:48am May 21, 2021 6:12pm | Edited May 22, 2021 8:48am
Technical summary as of Friday's close.
A Sub 13Wk awr week @ 74% of that metric. Friday saw a strong 94pip rejection move (103% 30day adr) from it's 4234 hi encountering supply deep into the prev 4hr/Dly/Wkly/minor Mthly swing hi zone =prev res=pot res to 4242 (current Yrly hi,) resulting in a bearish bodied hammer re Friday's Dly candle, and a bullish bodied hammer re the Wkly candle.

Although no HH on the Mthly yet that t/f remains bullish looking with 3 consecutive HL's, (the last @ 3669,) and a H @ that 4242 print.
The Wkly and Dly remain in general fractal uptrends and price closed above the last HL's in those uptrends @ 3799 and 4099 respectively. The Dly rising wedge bottom currently looks under threat though.

4Hr too remains in a general fractal uptrend although price closed below it's last HL @ 4168 (which followed a LH,) so that uptrend is potentially under threat. Re 1Hr - the last few fractal prints have been a HH, HL, HH (Friday's dly 4234 hi.) L (Friday's 4140 dly lo,) and LH so that t/f is either ranging or @ the start of what might turn out to be a new fractal downtrend (classic or general,) on that t/f. There is however a potential falling wedge on this 1Hr t/f.

Friday's sell-off has caused the 10,20 and 50 ema's to cross down on t/f's to 30min, with 1Hr neutral now, and 4Hr, Dly, and Wkly closing the week out still crossed up.

Conclusion?
Overall the technical picture on the 4Hr+ t/f's closes the week out bullish, despite Friday's sell-off.

What next?
No. idea. The Dly and Wkly candle closes may be suggestive of more near-term bearishness, but until the fractal analysis alters, this is in the overall technical bullish context described above. It is unlikely that the bears will get it all their own way.

Some B/H's on Monday. Quiet week ahead re scheduled UKdata releases. Uk's Boe Gvnr Bailey testifying to commons select committee on Monday might be the Uk event risk highlight. U.s scheduled data release event risk highlight for the forthcoming week could be it's q/q GDP # on Thursday.

Wkly, Dly, 4Hr, and 1Hr, are below.
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Trader with an Edge.
  • #596,772
  • May 21, 2021 6:16pm May 21, 2021 6:16pm
Quoting Nordling00
{quote} Enjoy this Friday, i will come and get you and all the sellers until 10/06/21
will join you at this 2 level for new cycle next week..
1. 076 - abcd pattern target 320
2. 050 - bullish cypher target 300.

both target will complete inverse h&s pattern on daily..
Peace Yo!
  • #596,773
  • May 21, 2021 6:41pm May 21, 2021 6:41pm
Happy weekend to green pips sell haha. Next week new set up. Will not complain anything until i see the movement . See ya around
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #596,774
  • May 21, 2021 6:44pm May 21, 2021 6:44pm
Quoting mrluckystar
{quote} will join you at this 2 level for new cycle next week.. 1. 076 - abcd pattern target 320 2. 050 - bullish cypher target 300. both target will complete inverse h&s pattern on daily..
I would be happy to see you joining our side mrluckystar!

But looking at your signature, i see that you are an intraday trader. Well I am sure GBP will go up but i don't know if it's going to happen within a day or two so beware, i wouldn't want give you wrong information. I myself a swing trader and my trading ideas are valid for few weeks and sometimes months. So i don't know if my ideas would be helpful
You have to have an IQ higher than 90 to interact with this user.
  • #596,775
  • May 21, 2021 6:51pm May 21, 2021 6:51pm
Quoting Nordling00
{quote} I would be happy to see you joining our side mrluckystar! But looking at your signature, i see that you are an intraday trader. Well I am sure GBP will go up but i don't know if it's going to happen within a day or two so beware, i wouldn't want give you wrong information. I myself a swing trader and my trading ideas are valid for few weeks and sometimes months. So i don't know if my ideas would be helpful
Im fully aware of the risk and i have my own trading method / strategy...
Peace Yo!
  • #596,776
  • May 21, 2021 7:12pm May 21, 2021 7:12pm
Quoting mrluckystar
{quote} Im fully aware of the risk and i have my own trading method / strategy...
Welcome aboard then mrluckystar! Victory will be ours, one way or another!
You have to have an IQ higher than 90 to interact with this user.
  • #596,777
  • May 21, 2021 9:12pm May 21, 2021 9:12pm
Quoting Nordling00
{quote} Welcome aboard then mrluckystar! Victory will be ours, one way or another!
i see no reason for GU to drop below 4000..
all core data for UK release this month are green..
where else for US 3/5 data are red (gdp, employment and retail sales)..

this drop only for profit taking for push price higher..
Peace Yo!
  • #596,778
  • May 21, 2021 11:27pm May 21, 2021 11:27pm
Quoting Jgcole83
Looks bullish on all tf's to me. {image} {image} {image}
Attached Image (click to enlarge)
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yes yes yes
  • #596,779
  • May 22, 2021 12:41am May 22, 2021 12:41am
Quoting Moty
{quote} {image}{image}
i expect a retrace towards 4170/80 and then drop to S1.

This is scenario no.1

Scenario no. 2 would be break friday low and then test S1.
Intraday only.
  • #596,780
  • Edited 8:51am May 22, 2021 12:45am | Edited 8:51am
Quoting Headland
Technical summary as of Friday's close. A Sub 13Wk awr week @ 74% of that metric. Friday saw a strong 94pip rejection move (103% 30day adr) from it's 4234 hi encountering supply deep into the prev 4hr/Dly/Wkly/minor Mthly swing hi zone =prev res=pot res to 4242 (current Yrly hi,) resulting in a bearish bodied hammer re Friday's Dly candle, and a bullish bodied hammer re the Wkly candle. Although no HH on the Mthly yet that t/f remains bullish looking with 3 consecutive HL's, (the last @ 3669,) and a H @ that 4242 print. The Wkly and Dly remain in...
Daily close is bearish.

I expect a test of S1 without doubt. For me only though.

Entry based on PA on Monday.

Either breakout trade ( at low ) or high around 4190/80
Intraday only.
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