Cable Update (GBPUSD)

Quoting navk

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{quote} To me, first test is likely 3865. Below 3905 I see a small gap down in my chart, now the small gap is filled and bearish.

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Quoting dempire1

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{quote} Looking at DXY helps a lot. I posted a chart couple of weeks ago that DXY reached a point where it might get reversal and to this day it held. After GU sweeped 1.367 it has been on bullish pullback while DXY been dropping. All the pairs have their own liquidity to follow but at the end you can't sell GU and buy EURUSD right (maybe on 5 min scalps you can)? Sterling has 11.9% weight with DXY, EUR has 57.6%. I've been keeping an eye on all 3. Hope it helps. PS! I'll add a picture just incase that I actually traded GU using that logic today...

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Quoting Moty

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{quote} i think they will go to 1.39256-1.39338 first {image}

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Quoting navk

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{quote} my short again 3907 stop 3913 {image}

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Quoting BigNumbers

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This is likely to play out today... Prices will be Trap in the Purple BOX... It will BUY up to take out weak holders in the market.... Although at first it seems like an institutional order flow had started but when I looked at it carefully; I discovered that it didn't take out many sellers in the market; So we don't have ENOUGH BUYERS TO SELL TO (BTST) {image}

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Quoting Tekin

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Waiting in patience for 1.3915 and 1.3930 tol sell with tight stop

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Quoting mysterio

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{quote} Might see a bit of a deeper correction this week now the stops above 1.39 have been taken and orders are closed. I don't think the 1.3980 zone will give up easily as it is a very strong supply zone. Nothing is guaranteed. Every trade is dependent on price action so there's no limit orders from me at these levels. Might range a little first. Note the first up leg may only go to 1.3930ish to fill the gap/contact the flip zone. DXY we are reacting off of weekly supply so my dollar bias is bearish/GU bullish overall. But, we contacted a daily...

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Quoting navk

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London open still 15 mins away. For me if stop in place at 1.39135/15 shorts are ok.

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Quoting Waveskierrob

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Todays closing candle {image}

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Quoting Waveskierrob

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Todays closing candle {image}

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Quoting Pat Chiko

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{quote} GU Morning to all. How about finding honey on the top of the branch ?. {image} Just like Winnie does it. {image}

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Quoting mysterio

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{quote} Got the first long breakout as expected now watch 1.3930s and 1.3948-68 for short The short could go down to 1.3820s ultimately {image} {image}

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Quoting kris89

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{quote} i dont see honey , i see horney below XD

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Quoting Pat Chiko

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{quote} Great post Bro. You have a great Quality of profitable price patterns/setups and devise entry/exit rules to exploit them That's the most difficult part for me to be as selective as is necessary. Keep up with the good charting Bro. Always enjoying your post. PAT

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