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Cable Update (GBPUSD)

  • #612,581
  • Jul 28, 2021 7:22am Jul 28, 2021 7:22am
Quoting Georginson
{quote} Don't fight the yearly trend.. you may check June 20 - June 26 year 2021, you may also check July 18 - 30 year 2019... This price is now well positioned for another Massive crash to 1.34 then 1.28.
Hi, I'm with you. I think the trend down too bro. Just scalp long
  • #612,582
  • Jul 28, 2021 7:22am Jul 28, 2021 7:22am
Quoting Moty
{image}
With u brother hope soon we will see 1.38
  • #612,583
  • Jul 28, 2021 7:23am Jul 28, 2021 7:23am
Quoting gabolan3
Hello friends, sorry for late posting today, there has been bearish sentiment for cable in today's european session trade as we have seen sellers @ 1.3826 but price has been so far sustained by the week's targeted support @ 1.3855 otherwise price would have dropped. Today cable buyers aim to extend gains towards 1.4014 mark as we enter into a bullish sentiment North America trading session. Price is expected to hold above 1.3952 for the rest of the day once broken by 7 pips although buyers still have to break the seller's weeks targeted resistance...
Thannk you for posting gabolan3.

Very informative and hope fully you will include some chart for us noob here to have some kind of visual understanding.

Thanks again and keep up the good work
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #612,584
  • Edited 7:36am Jul 28, 2021 7:26am | Edited 7:36am
Quoting pipfarm
60m Top Break down structure change with the last higher low broken with prior top support retested now ranging before second push down 3819 will act as support as that was the last resistance broken to the upside. 15 minute shows the break retest push down then range Top blue is the target Lower blue is the trap for shorts Then a potential push up maybe @ fomc to break the 3900 top completing the first swing up {image}

If it gets to 3819 and the second blue line it might just sit in a range between the two blue lines until Fomc

ALWAYS CONFIRM WITH PA
Follow The Markets Structure - Patience and Discipline
  • #612,585
  • Jul 28, 2021 7:39am Jul 28, 2021 7:39am
Quoting Georginson
July 1.3940 ^ 1.3500... For me, start loading new shorts from 1.3860, 1.3900 and 1.3940 if it gets there... Medium term target is 1.3500 once 1.3720 is broken.
^^^^^^
Data + Stat + Risk/Emotions Management
  • #612,586
  • Jul 28, 2021 7:47am Jul 28, 2021 7:47am
Support is at 1.38600. If broken Gbpusd is downwards.
  • #612,587
  • Jul 28, 2021 7:54am Jul 28, 2021 7:54am
Quoting MohSETH
{quote} Would You be kind to clarify, what is this liquidity zone?
We know that big players need big liquidity to put on a position and they will likely target areas where big clusters of stops are to be found.
This enables them to enter in the opposite direction, feeding off the liquidity provided by the stops to get a fill without moving price against themselves.

The question is, do these guys have access to special information regarding where large volumes of juicy stops are sitting, ready for the taking?
I believe not.

I think they just know from experience where large stop volumes are to be found (major swing points, perhaps overlapping with minor swing points and on the extremes of price congestion areas where a period of ranging has built up the breakout and stop orders etc. etc.).


Some Basic about liquidity first : In simplest form.

You have people who want to buy.
You have people who want to sell.

The people buying intend to sell for more than they buy and therefore make money.
The people selling either have already bought and want to offload for a profit or loss depending on what price they managed to buy at (you also have short-sellers in some markets but this is just making things confusing so forget that for now).

On the buy side of the ladder you have buy orders from almost $0 to whatever the currently highest bid is, then you have a gap above the highest bid where no-one currently wants to venture with a buy or sell order, and then above this gap you have sellers from the lowest sell price up to infinity.

Now in terms of 'liquidity'... let's just get real for a moment.

If there is a 'large' buy order a few steps below the current highest bid does this mean that the price will not be able to get lower than this giant order?
HELL NO! the price may reach that level and take a chip from it then go higher again, to then later come back down and chip-away further, and at any time the person who placed the order can alter the order to change it to purchase less units or completely remove the remaining purchase order completely... same on the opposite with sells and large sell orders.

They are not barriers because quite simply anything can happen.
These orders could even be 'fake' so to speak and are only there to trick traders for whatever reason and as soon as price gets close to hitting the level the order may vanish before getting touched or on the flip side a huge order may suddenly appear.

You can't take what is actually 'on the books' at face-value because they are not set in stone and can be changed in an instant.

Those are some basic, hope it help

Sorry can;t write long essay, coz I want to focus to my trading.

Thousand apology.

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #612,588
  • Jul 28, 2021 7:54am Jul 28, 2021 7:54am
Maheeee get your asbestos underpants on and take this Cable downstairs
Attached Image (click to enlarge)
Click to Enlarge Name: Hounds-of-Hell-Final by Davesrightmind on DeviantArt.jpg Size: 143 KB
  • #612,589
  • Jul 28, 2021 7:54am Jul 28, 2021 7:54am
Quoting JayBag
Good day Gang, Price currently retesting 1.38946 level again. For me, this kind of PA suggests a potential decline going forward. I could be awfully wrong but my idea is to keep selling this instrument till promise land at 1.3200 then I go on my long-awaited vacation. ' Tuvalu or Maldives' in mind Keep well and remain KIND
I share similar views as you Jay... But this rise to 1.3894 seems weird in my opinion. Though I don't expect this new weird movement to exceed 1.3940 before the expected fall to 1.3446.
Data + Stat + Risk/Emotions Management
  • #612,590
  • Jul 28, 2021 7:58am Jul 28, 2021 7:58am
Quoting pipfarm
60m Top Break down structure change with the last higher low broken with prior top support retested now ranging before second push down 3819 will act as support as that was the last resistance broken to the upside. 15 minute shows the break retest push down then range Top blue is the target Lower blue is the trap for shorts Then a potential push up maybe @ fomc to break the 3900 top completing the first swing up {image}

Something to note on H1 the very last higher low has been taken out therefore this is indicative of a larger move down so i think im going to hold this trade through to tonight , and hopefully my stop holds
Follow The Markets Structure - Patience and Discipline
  • #612,591
  • Jul 28, 2021 7:59am Jul 28, 2021 7:59am
Quoting pipfarm
60m Top Break down structure change with the last higher low broken with prior top support retested now ranging before second push down 3819 will act as support as that was the last resistance broken to the upside. 15 minute shows the break retest push down then range Top blue is the target Lower blue is the trap for shorts Then a potential push up maybe @ fomc to break the 3900 top completing the first swing up {image}
Nice short.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #612,592
  • Jul 28, 2021 8:02am Jul 28, 2021 8:02am
Quoting Pat Chiko
{quote} Nice short.

Thanks but you know the markets , never count you chickens before they hatch
Follow The Markets Structure - Patience and Discipline
  • #612,593
  • Jul 28, 2021 8:11am Jul 28, 2021 8:11am
Quoting Waveskierrob
Maheeee get your asbestos underpants on and take this Cable downstairs {image}
I suspect somebody may get a kick in the butt tonight.... lol

I'ts overdue for that.

Attached Image
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #612,594
  • Jul 28, 2021 8:17am Jul 28, 2021 8:17am
Pat what about market sentiment, trading houses can view number of participants long or short at a specific point in time.
  • #612,595
  • Jul 28, 2021 8:20am Jul 28, 2021 8:20am
Gold also close to breaking its support
  • #612,596
  • Jul 28, 2021 8:21am Jul 28, 2021 8:21am
Hi guys, what is fomc gonna be like?
SELF|PATIENCE
  • #612,597
  • Jul 28, 2021 8:21am Jul 28, 2021 8:21am
All the old resistances now act as support , the first one is cleared , the second is a minor but the third is major

Once they are broken they will now act as resistance

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 42 KB
Follow The Markets Structure - Patience and Discipline
  • #612,598
  • Jul 28, 2021 8:21am Jul 28, 2021 8:21am
I smell many profits ahead lol
Daddy, Brother, Lover, Little Boy
  • #612,599
  • Jul 28, 2021 8:22am Jul 28, 2021 8:22am
Solid accumulation...
Attached Image (click to enlarge)
Click to Enlarge Name: m14r1tbc.png Size: 95 KB
Air force
  • #612,600
  • Jul 28, 2021 8:24am Jul 28, 2021 8:24am
Quoting Houtbay
Support is at 1.38600. If broken Gbpusd is downwards.
OKAY
SELF|PATIENCE
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