Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#613,701
Aug 2, 2021 5:25am Aug 2, 2021 5:25am

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

Quoting mysterio

Disliked

{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...

Ignored

Will let this run, I believe we made the high for the day if my DXY demand level holds--GU showing more willingness to move down when dollar retraces. Plan working perfectly so far https://www.forexfactory.com/thread/...7#post13651257

Will set stop to BE soon incase i'm wrong

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#613,702
Aug 2, 2021 5:27am Aug 2, 2021 5:27am

Waveskierrob
Joined May 2020 | Status: Best trader ever to exist ever | 10,701 Posts

Quoting Waveskierrob

Disliked

Todays closing candle {image}

Ignored

Happening .......just

#613,703
Aug 2, 2021 5:28am Aug 2, 2021 5:28am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

Quoting genadi

Disliked

{quote} thanks for your hammer on GBPJPY friday.

Ignored

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yes yes yes

#613,704
Aug 2, 2021 5:34am Aug 2, 2021 5:34am

Almo2312
Joined Jul 2015 | Status: Trader | 2,762 Posts

maybe S1 today?..

market still on weekend mode..

trade safe

Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!

#613,705
Aug 2, 2021 5:36am Aug 2, 2021 5:36am

Houtbay
Joined Nov 2020 | Status: Trader | 4,585 Posts

Gold is also worth watching for a movement upwards

#613,706
Aug 2, 2021 5:52am Aug 2, 2021 5:52am

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

Quoting Houtbay

Disliked

Pat I looked at your level for a bounce. I think there will be some support, but price should continue down

Ignored

GU

Ranges still tight as well this is not a classical bounce ..more a classical example for a typical stop hunt or shakeout by smart money

"A strategy that attempts to force some market participants out of their positions by driving the price of GU to a level where many individuals have chosen to set their stop-loss orders.

The triggering of many stop losses generally leads to high volatility"

1. price made a new high (friday) and encountered too strong resistance
2. selling pressure suggest to most traders to go short
3. when price moves down most traders move there stop loss lower near the highs
4. looking of possiblility of price to attack the highs again only to take out the stops from last weak positions with tight stops
5. increased liquidity leads to a faster sell off .

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I come from the future.

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

#613,707
Aug 2, 2021 6:01am Aug 2, 2021 6:01am

BigNumbers
| Commercial User | Joined Jul 2021 | 3,280 Posts

Prices have returned to the support created on top of the RBS.. Now its time to get in on the BUY again...
NOTE: We are going to be trading inside the purple BOX throughout today until there is a breakout
GOOD LUCK

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My telegram: https://t.me/avidforex

#613,708
Aug 2, 2021 6:02am Aug 2, 2021 6:02am

BeeTogether
Joined Oct 2020 | Status: Trader | 14,051 Posts

SL hit need a slight more drop below 139 to take out longs and then another rise

Insane in the Brain..

#613,709
Aug 2, 2021 6:02am Aug 2, 2021 6:02am

navk
Joined Oct 2010 | Status: Trader | 21,483 Posts

In Asia, I gave away 17 pips ..

This profit ( 30 pips ) has made me into positives for the day.

Closed all now.

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Intraday only.

#613,710
Aug 2, 2021 6:03am Aug 2, 2021 6:03am

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

Quoting KiwiTrada

Disliked

{quote} yup buy support sell resistance, surprise surprise it works, muppet, nice daily double top in place, fridays low key to bearish continuation tapping now!!!!!

Ignored

once again approaching fridays low 1 38869 ground zero fo cable bulls, possible hitch @ 1 39000 pysch, to be expected but bears looking good 4hr & daily

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

#613,711
Aug 2, 2021 6:10am Aug 2, 2021 6:10am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

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yes yes yes

#613,712
Aug 2, 2021 6:18am Aug 2, 2021 6:18am

knkie
Joined Apr 2012 | Status: Stunning | 6,815 Posts

Quoting knkie

Disliked

price reacted in H1 supply the push is upward buy in M5 demand 1.3915 {image}

Ignored

got out of this with a few pips before it fell further.
kinda surprised it did.

opened a new buy at lower level 3904

lets see if this one works out better

in wondering about yourself, you forgot what you came here to be part of

#613,713
Aug 2, 2021 6:22am Aug 2, 2021 6:22am

GhosTraderGT
Joined May 2021 | Status: Unfollow the herd | 1,760 Posts | Online Now

GbP Index H1

The thing i dont know about this structure/pattern is that it has every possibilty of moving in any direction. But one thing i sure know about this pattern is that it comes with high volatility and momentum. See you at next support!

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