Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#601,961
Jun 13, 2021 5:19am Jun 13, 2021 5:19am

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

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One quick post while getting ready for tomorrows trading now back to enjoying the glorious sunshine here in the UK

PS i will be watching the retest area up to 4220 where i will short if certain other things line up

Follow The Markets Structure - Patience and Discipline

#601,962
Jun 13, 2021 8:17am Jun 13, 2021 8:17am

navk
Joined Oct 2010 | Status: Trader | 21,479 Posts

Quoting mysterio

Disliked

I would like to watch the 1.4150 area for a short on Monday. See how things look, might buy up to there as well as we should get some retrace, as there is a small imbalance to fill A move to stop hunt the highs over 1.42 also possible {image}

Ignored

yes, within 4hr after open, if the price holds friday low, then good retrace can be expected until london open.

Intraday only.

#601,963
Jun 13, 2021 8:27am Jun 13, 2021 8:27am

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

Quoting navk

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{quote} yes, within 4hr after open, if the price holds friday low, then good retrace can be expected until london open.

Ignored

Yes agree

I have an alternative scenario where Monday is all bull and we take out the highs around 1.42 before a dive. Will post chart soon

As ever just need to see confirmation on lower TF before selling. But on Monday I may be on the lookout for long breakout at LO

#601,964
Edited 9:41am Jun 13, 2021 8:48am | Edited 9:41am

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

Quoting mysterio

Disliked

I would like to watch the 1.4150 area for a short on Monday. See how things look, might buy up to there as well as we should get some retrace, as there is a small imbalance to fill A move to stop hunt the highs over 1.42 also possible {image}

Ignored

This is my alternative scenario, wait and see what the price action shows on Monday

Third scenario is just straight down, I think this is probs the least likely but anything can happen

Ultimate target is 1.39 daily demand level. IF we get there (big IF) I think it would be a really good buy

Any comments or criticism welcome

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#601,965
Jun 13, 2021 12:05pm Jun 13, 2021 12:05pm

PiploEscobar
| Joined Jul 2019 | Status: Trader | 92 Posts

Quoting W0lfram

Disliked

I think 1.4097 or so{image}

Ignored

Well done mate, nailed it!

#601,966
Jun 13, 2021 2:36pm Jun 13, 2021 2:36pm

Vincent1
Joined Aug 2019 | Status: Trader | 598 Posts

Quoting nAVIN2007

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{quote} Excellent analysis, Thanks bro

Ignored

Thank you

I do this also with the hope someone understands that good old technical analysis, with just candlesticks, may help to anticipate possible future market movements and make money. It is enough just to read the candles as a pianist reads a musical score

#601,967
Jun 13, 2021 2:40pm Jun 13, 2021 2:40pm

MTF Test
Joined May 2008 | Status: I Loose, I Win, I Conquer | 1,834 Posts

Daily TF is broke it's structure to the upside and tested the support @ 1.40. Pair was capped in range due to uncertainty of both the pairs.
As per 4H Pair may still stuck in a range. However, Daily momentum candle on last Thursday had confirmed the bullish bias still in tact and pair may have been in stop hunt on Friday.
I suggest further gain on the pair which for me is a BUY, I will buy with a tight stop loss. however alternately, if we break below, 1.41, we may see 1.40 and strong support be @ 1.39500 which will invalidate the whole setup.

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Fools Rushing

#601,968
Jun 13, 2021 2:42pm Jun 13, 2021 2:42pm

Vincent1
Joined Aug 2019 | Status: Trader | 598 Posts

Quoting mysterio

Disliked

{quote} Your analysis is always really great thanks for taking the time to post. Great for people like me who only really know the 5m intraday TFs and still getting to grips with the bigger picture same with pipfarm Just like some of the other comments are saying. We've had a move up/pullback in the dollar cooking for sometime. Everytime I confidently post that we are going to move below the range because of this, GU goes and makes another bounce in the range from 1.41 area, and I get caught trying to short the bottom of the range. So I'll...

Ignored

Thanks a lot
I often trade lower TFs too, M15 e H1, and I can tell you that analyzing Daily and Weekly takes me a few minutes a day, but has helped me a lot to improve my results even on the lower TFs.

In fact now I prefer to take most trade signals if they go in the same larger TF's direction, almost avoiding countertrend. So I trade less signals, that's true, but I have a better Risk to Reward ratio and a higher win rate.

Patterns on M15 in the same Daily's direction have more than 80% chance of winning and a RR better than 1:2. When instead the M15 signal is against the direction of D1 I have a win ratio of 50/60%, R:R difficult over 1:2.

I have the same level you wrote on another post, around 1.4150, hoping to short from there, so we can make some money

#601,969
Jun 13, 2021 2:51pm Jun 13, 2021 2:51pm

Black-Star
| Joined Jul 2020 | Status: Trader | 100 Posts

I think price will revisit 1,4240 before drop to around 1,4000. If price breaks below 1,4075 then pattern is invalid. Please don't follow blindly. Safe trading everyone.

By the way thanks to all the members for sending charts and valuable content on this thread. Bless!!!

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#601,970
Jun 13, 2021 3:30pm Jun 13, 2021 3:30pm

KeenPips
Joined Dec 2015 | Status: Trader | 8,751 Posts

Here's my take on GBPUSD, I'm a medium-term swing trader. Technically, the GBPUSD market structure is still bullish, but market operation is presently sideways. On the daily time frame, although the technical structure favours bulls, the 1.40830/1.42070 area (purple) has operated as a horizontal channel for price action in the last 20 days. The area is the lower part of a larger multi-year horizontal resistance zone seen on the monthly time frame. Technically, a significant bullish breakout from the area may see a northward surge for liquidity, but a significant bearish breakdown of the area may see a bearish retest of the 1.39300/1.38490 horizontal support zone (light green). Meanwhile, a rising trendline (magenta) is still active as a supporting incline.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money

#601,971
Jun 13, 2021 5:41pm Jun 13, 2021 5:41pm

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

GU

Waiting to scalp short at SSR zone.

Previous heavy manipulated zone (thin pink band).

Will enter short on M30 rejection candle.

Target area H4 RBS zone.

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I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#601,972
Jun 13, 2021 8:22pm Jun 13, 2021 8:22pm

palpite
Joined Sep 2015 | Status: Under Pressure | 4,596 Posts

buy stop - 1.4118

Together we can be strongest

Vantage Return This Month: na

#601,973
Jun 13, 2021 8:32pm Jun 13, 2021 8:32pm

navk
Joined Oct 2010 | Status: Trader | 21,479 Posts

my long taken.

stop 4091.

Target before NY open 4165

Intraday only.

#601,974
Jun 13, 2021 8:38pm Jun 13, 2021 8:38pm

palpite
Joined Sep 2015 | Status: Under Pressure | 4,596 Posts

Quoting palpite

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buy stop - 1.4118

Ignored

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Together we can be strongest

Vantage Return This Month: na

#601,975
Jun 13, 2021 9:25pm Jun 13, 2021 9:25pm

KiwiTrada
Joined Aug 2009 | Status: Trader | 12,448 Posts

every one is saying it could go up or down, add east and correct, whats the point of posting???? too many arrows up and down, pointless

If you are new to Forex? Say Goodbye to your account!!

#601,976
Jun 13, 2021 9:30pm Jun 13, 2021 9:30pm

KiwiTrada
Joined Aug 2009 | Status: Trader | 12,448 Posts

Quoting KiwiTrada

Disliked

every one is saying it could go up or down, add east and correct, whats the point of posting???? too many arrows up and down, pointless

Ignored

it is there about bottom of 4hr / daily eastern range it should go up, period, if bottom of range does not hold 4072ishpa now 4119 could be range bo, ???

If you are new to Forex? Say Goodbye to your account!!