Cable Supply & Demand Intraday

Last Friday I only caught that 20 pip sell and missed out on the entire bull move for various reasons. OH WELL.

Cross posted on cable update, broad thoughts on next week:

Possible bank holiday tomorrow and/or some hungover traders on Monday so watch out

Bulls took control and formed a double bottom on the institutional demand level around 1.3740. This was the level that created an explosive move up on the 16th of April when the MPC made an announcement so this is a smart money zone. With that said bears have made several attacks down here but was firmly rejected again on Friday

DXY also consolidating at a weekly supply level, my broad expectation is a move down now, perhaps some retrace first so this can translate into a bull week coming up on cable. The major plot twist here is the CPI figures on the 13th, I can't see us taking out the weekly level but can never rule out another spike above the recent highs, anything can happen. The dollar has a lot of space for a freefall now. We have to be aware that Treasury yields are falling sharply which should create a reduction in demand on the Dollar. I think this is just part of a quarterly rebalancing of institutional portfolios into fixed income myself. Check out this interesting article on zero hedge with some theories.. not sure I believe any of these but still interesting: https://www.zerohedge.com/markets/he...reasury-yields Gilt yields also saw what looked like a technical retracement on Thurs/Fri which helped GU bulls

I'm a price action scalper so take these HTF observations as just that, observations and levels/scenarios for me to watch out for, trying to predict the exact movement of markets is certainly not in my wheelhouse, I just react to what's happening on the day being aware of the institutional levels that drive buying and selling. As ever expect the unexpected

First area of interest is 1.3840-1.3824 for buying. This was the zone that wiped the last of the sellers in the mid 1.38s. Around 1.3788-1.38 is not out of the question for a buy too. First target might be 1.3955-87.

Long going good, I want to hold to 1.3950ish

Only extracted 20 pips from the last long and give back it all in a couple of dumb longs this morning. Impatience is a bit of an issue. I also neglected the short from 1.39 despite having a clear short signal/zone because of my expectations of a long

Over the coming days I'm gonna post the setups in my trading plan and only take trades which exactly conform. Each trade will have to match certain criteria and I'll link them on the first page. They're a mixture of S&D setups, pivots, price action/tape reading, and some breakouts (normally as S&D confirmations)

Cautiously long, I believe this was a retest of 1.38 and gap fill move

I look for a buy in the circle tomorrow

It may reach below either of the lows on the left also, await a solid momentum shift on m5

Set a limit buy at 1.3788 with 30 pip SL in case it hits in Asia

Buy limit not hit, buying the dip, Looking for 1.3950-1.40, if the H1 supply holds then i take it out BE and buy lower

Bought into this what looks like manipulation below the asia range

I still hold long bias because of USD

Haven't had much time to scalp today

Long on RN again

Will set stop to BE before bed

Seems like a lot of position building

I have to be long from here from an S&D perspective

Actually this week has been ripe with scalping setups- I'm going to post my setups starting next week in detail

Very interesting to mark up where the liquidity resides as a GU intraday trader to help you figure out where the potential reversal zones are. Note the triangle is faked out twice- pointless trying to trade breakouts on patterns this size.

This has actually been quite a fun week to trade GU I love the range play

So this is the reason for the long bias. We are clearly basing for a big move on GU which I believe will be up. If you look at sentiment around FF most people want to short.

The reason is DXY is on weekly supply which is where the banks have been selling so I believe they're just building positions for a move down eventually. But, I can be wrong so I protect myself and don't overcommit. The most I lose on a trade is 10-20 pips I try and get precise entries where i'm sure there will be a move away from my entry in my favour

If anyone is reading this and has a contrary view I'd love to hear

Keep buying for now

Anyone wondering why the huge bull surge

Tapped into this strong untested H4 zone from last week

Really pays to have all your zones marked out

Didn't get the move up anticipated on Friday instead we moved to the bottom of the range. My analysis for a bull move still holds, I can see 1.39 then 1.40. We'll see if it plays out and how exactly. Will scan for entries pre London but keeping an open mind on direction.

Looking for a scalp buy countertrend

Still in h4 demand, 1.37 round number, PA indicating reversal in short term

Edit- in the buy

Lets see if we can get back to 1.38 ish

Edit- just took 20 pips, just filling imbalance from LO drop

As per my last post i'm open to the morning down move being a spring before the up move, but we'll see. I prefer to get in and out quickly. We're gonna know early this week either way

Will likely buy a breakout and pullback

In the buy now reaction from h1 demand, TP open

Scalped off a good 25 pips last trade

Back in long on weekly s2/monthly s1/h1 demand

unfortunately missed the sell as I didn't have the channel projected

Decided just to take 28 pips on daily S2

Cautious buy just under 1.36

H4 demand, some divergence and first signs of bullish PA, ABCD completion

Last buy was impatient. Rebought slightly lower 13577 after being stopped out. Has now surged on the 4th feb MPC level

Broke my rules, didnt wait for conf on the first trade- disappointed in myself to make a basic error

This is likely my last trade today, now trying to figure if i should just TP or hold for 1.37