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Cable Update (GBPUSD)

  • #606,861
  • Jul 4, 2021 10:35pm Jul 4, 2021 10:35pm
Ranging above 1.38000 ( waiting a sign of bull or bear )
still in my mind the 1.38500 -1.38600 area till 1.39000-1.39100
the nearest pullback or just dropped like cracker
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #606,862
  • Edited 10:51pm Jul 4, 2021 10:40pm | Edited 10:51pm
Quoting shakmoney
Does anyone have an analysis on dxy?
These are the areas I'm looking for possible rejections.
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How to succeed in zero sum game?
  • #606,863
  • Jul 4, 2021 10:46pm Jul 4, 2021 10:46pm
Quoting kris89
Ranging above 1.38000 ( waiting a sign of bull or bear ) still in my mind the 1.38500 -1.38600 area till 1.39000-1.39100 the nearest pullback or just dropped like cracker
I would expect 3900 not to break before London open.
Intraday only.
  • #606,864
  • Jul 4, 2021 10:51pm Jul 4, 2021 10:51pm
its monday so i do not expect much but ranging market ( Correction Pattern , Now we are Forming the A in H1, expect to see B today and C tommorow ) and then at least continue the dropped 1-5
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #606,865
  • Jul 4, 2021 11:39pm Jul 4, 2021 11:39pm
Hi All,

Good Morning!

Today we can see big movement.
This week going to start with down movement in GBPUSD. Below is my analysis.


Today resistance zone between 1.38445 to 1.38515
Today Support zone between 1.37312 to 1.37269

Till now it was not even try to enter the resistance zone so it will move towards support zone, 1.37860 to 1.37890 will play crucial today .

if support breaks in 1 hr chart we could 1.36754

Trade Safe
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  • #606,866
  • Jul 4, 2021 11:50pm Jul 4, 2021 11:50pm
Quoting kris89
its monday so i do not expect much but ranging market ( Correction Pattern , Now we are Forming the A in H1, expect to see B today and C tommorow ) and then at least continue the dropped 1-5
I dont know why traders always think Monday is ranging day.. incorrect.

Market could be powerful anytime it decide to, any day any hour.

Daily still bearish as hell, but 1h and 4h is in corrective pattern.
expect price to keep his move upward to around 1.39. Plus minus 15 pips.

best target 1.386/7 area, base on h1, this is my 1st target for today.
  • #606,867
  • Jul 5, 2021 12:00am Jul 5, 2021 12:00am
Quoting gatenio
{quote} I dont know why traders always think Monday js ranging day.. incorrect. Market could be powerful anytime he decide to, any day any hour. Daily still bearish as hell, but 1h and 4h is in corrective pattern. expect price to keep his move upward to around 1.39. Plus minus 15 pips. best target 1.386/7 area, base on h1, this is my 1st target for today.
yes 1.38650 first nearest ,
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #606,868
  • Jul 5, 2021 12:18am Jul 5, 2021 12:18am
Quoting kris89
{quote} yes 1.38650 first nearest ,
just bough here 1.38190 little peny for scalping to 1.38600
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #606,869
  • Jul 5, 2021 12:22am Jul 5, 2021 12:22am
Quoting navk
{quote} I do not agree with this post and GU chart. It is likely to trade below friday high to test daily pivot first. Then the direction may change in London.
What price is the pivot line?
yes yes yes
  • #606,870
  • Jul 5, 2021 12:30am Jul 5, 2021 12:30am
Quoting Moty
{quote} What price is the pivot line?
near 1.38000
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #606,871
  • Jul 5, 2021 12:44am Jul 5, 2021 12:44am
Waiting for the break
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yes yes yes
  • #606,872
  • Edited 1:00am Jul 5, 2021 12:44am | Edited 1:00am
I see there's a falling wedge but seems like it will fall more first, I don't trust breakouts around this time as they're often fakes

Around the daily pivot/1.38 worth watching

They can even do a false break above the TL to gather counterparties to drop it to 1.38 so be careful. Back when I started end of last year I'd exclusively trade breakouts which I think can work but you have to be aware of the best times to trade them, best places, what the fakeouts look like and what adequate confirmation looks like. IMO this is neither the time nor the place but could be wrong

I see Daily also in a falling wedge so first target of 1.39 still stands just waiting for the optimal entry
  • #606,873
  • Jul 5, 2021 12:48am Jul 5, 2021 12:48am
Quoting Moty
Waiting for the break {image}
that arrow will count as the C corretion later for dropped. so i expected more
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #606,874
  • Jul 5, 2021 12:56am Jul 5, 2021 12:56am
Morning Maheeee I tried predicting daily candle close on friday and fail miserably, show us how it's done
  • #606,875
  • Jul 5, 2021 1:02am Jul 5, 2021 1:02am
Quoting Moty
{quote} What price is the pivot line?
to me 3801
Intraday only.
  • #606,876
  • Jul 5, 2021 1:02am Jul 5, 2021 1:02am
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yes yes yes
  • #606,877
  • Jul 5, 2021 1:03am Jul 5, 2021 1:03am
Quoting Waveskierrob
Morning Maheeee I tried predicting daily candle close on friday and fail miserably, show us how it's done
ive vision that today candle will close 50% bear and Bull
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #606,878
  • Jul 5, 2021 1:12am Jul 5, 2021 1:12am
Quoting kris89
{quote} ive vision that today candle will close 50% bear and Bull
but im my deepest opinion , bull candle is not going anywhere if price can pass the 1.38600 on L.O . but if failed , we can see the bear
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #606,879
  • Jul 5, 2021 1:14am Jul 5, 2021 1:14am
Quoting gatenio
{quote} I dont know why traders always think Monday is ranging day.. incorrect. Market could be powerful anytime it decide to, any day any hour. Daily still bearish as hell, but 1h and 4h is in corrective pattern. expect price to keep his move upward to around 1.39. Plus minus 15 pips. best target 1.386/7 area, base on h1, this is my 1st target for today.
Very well said...
Data + Stat + Risk/Emotions Management
  • #606,880
  • Jul 5, 2021 1:16am Jul 5, 2021 1:16am
gbpusd flag pole in formation ..1.39 looks good trgt on breakout
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