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Cable Update (GBPUSD)

  • #615,181
  • Aug 9, 2021 3:48am Aug 9, 2021 3:48am
The bulls surrendered the moment 1.38833 Support level was violated... I always check one thing in the market "$$$$'
Ordinarily, Prices were suppose to retrace to 1.39020 and then drop dead but I don't know what's holding GU from dropping real hard..
Now Fundamental Analysis may affect the market greatly...
The Range is suspicious although I'm SHORT at the moment...
The drop is likely to happen but if it doesn't we have our stop loss in place..
My telegram: https://t.me/avidforex
  • #615,182
  • Aug 9, 2021 3:50am Aug 9, 2021 3:50am
Quoting navk
{quote} gu has tendency to react only when 4hr candle opens. Beware of this. I think i posted earlier too. 9 pm est candle 5 am est candle and then 9 am est candles react Usually the day trend starts at 5 am est candle
Indeed ! it does. However i will still be selling if the candle closes below 3870. Waiting for the 4H candle to close. 1H printed a high probable candle bearish candle pattern which also suggest a resumption of the bearish bias.
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Fools Rushing
  • #615,183
  • Aug 9, 2021 3:54am Aug 9, 2021 3:54am
1.3850 Support zone holding. Might look for buys if the 4H candle can't break through
  • #615,184
  • Aug 9, 2021 4:03am Aug 9, 2021 4:03am
I doubt very much cable will drop much below 3830 area, most probably between 3800 - 3830

yes this is a D1 retest but considering the last daily structure high has been broken the consideration should be where did the prior swing up break support to the upside which now becomes the retest area, hence i closed my trade as it can be dangerous to trade corrective swings as price could suddenly spike up.

Too easy to keep shorting , once the market has gained enough liquidity which is getting very close the market will pull the plug trapping a huge amount of shorts from what i can see across major brokers.

The trade to be on later when it sets up is the long as that is a retest of 4138 which has a potential to net 200 or more pips.
Follow The Markets Structure - Patience and Discipline
  • #615,185
  • Aug 9, 2021 4:07am Aug 9, 2021 4:07am
Quoting pipfarm
I doubt very much cable will drop much below 3830 area, most probably between 3800 - 3830 yes this is a D1 retest but considering the last daily structure high has been broken the consideration should be where did the prior swing up break support to the upside which now becomes the retest area, hence i closed my trade as it can be dangerous to trade corrective swings as price could suddenly spike up. Too easy to keep shorting , once the market has gained enough liquidity which is getting very close the market will pull the plug trapping a huge amount...

it can go otherwise also, to those who are buying.
  • #615,186
  • Aug 9, 2021 4:13am Aug 9, 2021 4:13am
Bought @ 1.3859 Target 1.3895
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Forex Learner
  • #615,187
  • Aug 9, 2021 4:16am Aug 9, 2021 4:16am
Quoting SCopier
Scalping for long {image}
That was good call mate !
Fools Rushing
  • #615,188
  • Aug 9, 2021 4:17am Aug 9, 2021 4:17am
Quoting KiwiTrada
{quote} gold seems to have completed its pull back 50% of the bo dump watching this 4hr low for confirmation 1733 27 both au nu showing similar reversal of pull back 7020 & 7356 watching last hrly dojis as confirmation, time to sit on hands and wait!!!!
edit eu swissy tapping previous 4hr and daily high 91667, will be tough but come on bulls, extra effort required!!
If you are new to Forex? Say Goodbye to your account!!
  • #615,189
  • Aug 9, 2021 4:18am Aug 9, 2021 4:18am
Quoting MTF Test
{quote} Indeed ! it does. However i will still be selling if the candle closes below 3870. Waiting for the 4H candle to close. 1H printed a high probable candle bearish candle pattern which also suggest a resumption of the bearish bias. {image}
The daily candle direction has just started. I expect any number above 3900 today
Intraday only.
  • #615,190
  • Aug 9, 2021 4:19am Aug 9, 2021 4:19am
i still wait
Like me, cuts losses quickly. But has more patience and lets his winn
  • #615,191
  • Aug 9, 2021 4:20am Aug 9, 2021 4:20am
Quoting KiwiTrada
{quote} eu tapping previous 4hr and daily high 91667, will be tough but come on bulls, extra effort required!!
gold still waiting for dump, should be close now ? pa now 1746 80
If you are new to Forex? Say Goodbye to your account!!
  • #615,192
  • Aug 9, 2021 4:21am Aug 9, 2021 4:21am
CABLE weekly review & preview (for Aug.9-13)
Although closing bearish on friday with day low @ 1.3860 to end the previous week, sellers being unable to break the week Aug. 2-6 midpoint @ 1.3860 to hit last week friday selling target @ 1.3839(posted friday) suggest that buyers are still in control to defend this week Aug. 9-13 by closing it above 1.3909 in order to continue dominating.
We have seen buyer's profit taking targeted support @ 1.4010 and sellers resistance defensive @ 1.4066 sitting just below buyers second target @ 1.4378 for this week.
For today Monday Aug.9 ,with price closing friday @ 1.3874 falling between 1.3904 day support and 1.3838 day resistance,cable is set to only range between these levels for the entire day as the european session bearish sentiment prevails till 2PM GMT when the key event should cause an upside rebound towards 1.3904 provided our bearish bias level for today @ 1.3846 is not yet broken by 7 pips. Happy Trading
  • #615,193
  • Edited 4:36am Aug 9, 2021 4:22am | Edited 4:36am
mf squeezers
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yes yes yes
  • #615,194
  • Aug 9, 2021 4:23am Aug 9, 2021 4:23am
Quoting KiwiTrada
{quote} gold still waiting for dump, should be close now ? pa now 1746 80
This is not a little target trade, expecting decent dump
If you are new to Forex? Say Goodbye to your account!!
  • #615,195
  • Aug 9, 2021 4:35am Aug 9, 2021 4:35am
Quoting navk
{quote} The daily candle direction has just started. I expect any number above 3900 today
3900 Could be a real possibility. However, i am hoping the end of the day to be bearish and looking for short opportunities.
Fools Rushing
  • #615,196
  • Edited 4:53am Aug 9, 2021 4:41am | Edited 4:53am
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yes yes yes
  • #615,197
  • Aug 9, 2021 4:45am Aug 9, 2021 4:45am
Quoting MTF Test
{quote} 3900 Could be a real possibility. However, i am hoping the end of the day to be bearish and looking for short opportunities.
I expect other way today and this week.
3850 support has strong buyers.
If today close is around 3910/20, then tomorrow would be bullish day.
Remember... all downward moves are corrections in daily uptrend
Intraday only.
  • #615,198
  • Aug 9, 2021 4:46am Aug 9, 2021 4:46am
don't shy
show your face, we want to learn something from you.....
22+ are invisible...
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Intraday Trading is an Art _ hoda
  • #615,199
  • Aug 9, 2021 4:47am Aug 9, 2021 4:47am
Quoting hoda
don't shy show your face, we want to learn something from you..... 22+ are invisible... {image} {image}
morning i never understand that??????? why
  • #615,200
  • Aug 9, 2021 4:48am Aug 9, 2021 4:48am
Quoting hoda
don't shy show your face, we want to learn something from you..... 22+ are invisible... {image} {image}
im invisible, do you have any problem with that?
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