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Cable Update (GBPUSD)

  • #619,941
  • Aug 30, 2021 3:46am Aug 30, 2021 3:46am
Quoting Wavegarrick
Price currently rejecting off the 61.8% fib retrace at 1.37728 of last week's swing high and low. Tough and I wouldn't get too bullish at this point. Is this a shake-out? we never know. Trade safe, Cheers.
Hi Guys,
Sell trade opened at 1.37637 for a target of my weekly pivot at 1.37223. S/loss 50 pips, could close earlier if I see a break of my descending trend line and last week's high. If 1.37000 goes I believe we could go much lower.
Have a great week,
Cheers.
Trade to trade another day
  • #619,942
  • Aug 30, 2021 3:46am Aug 30, 2021 3:46am
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 32 KB
yes yes yes
  • #619,943
  • Aug 30, 2021 3:52am Aug 30, 2021 3:52am
Quoting kris89
{quote} me also sell off till my area of interest , will see how it work XD
I'm looking for a big bearish daily candle early this week to continue the trend down, tight SL in case i'm wrong. If we have a significant break up to 1.38 then the idea is invalidated
  • #619,944
  • Aug 30, 2021 3:53am Aug 30, 2021 3:53am
Quoting Wavegarrick
{quote} Hi Guys, Sell trade opened at 1.37637 for a target of my weekly pivot at 1.37223. S/loss 50 pips, could close earlier if I see a break of my descending trend line and last week's high. If 1.37000 goes I believe we could go much lower. Have a great week, Cheers.
Hm! Strange! H4 is bullish. I doubt it will fall that much.
But wish you luck, Leon! You almost never make mistakes.
  • #619,945
  • Aug 30, 2021 3:57am Aug 30, 2021 3:57am
Quoting mysterio
{quote} It has short written all over it for me for today, could be wrong. I am holding my sell from Fri, might be NY before we see any move or may just range A trade idea might be to watch for a reversal down around the asia highs {image}
love your charts bro, i am watching your thread

i see pa for Gu is short, but i am afraid becouse of storm in USA (i dont trade fundamentals thou...)
  • #619,946
  • Aug 30, 2021 4:00am Aug 30, 2021 4:00am
Quoting iqyu5an
No need to go up / down this week or this month. Let cable to close weekly / monthly TF first

Tapperiing .....Powel .... Inflation etc etc... so what ?
not euphoria follower
  • #619,947
  • Aug 30, 2021 4:11am Aug 30, 2021 4:11am
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.png Size: 16 KB
yes yes yes
  • #619,948
  • Aug 30, 2021 4:17am Aug 30, 2021 4:17am
Inclined to go with the bulls atm

Daily is in an uptrend but moving against the weekly with no structure break so have to assume it is corrective atm.

Looking into the structure a bit more on 4H we see up trend on swings with a minor pullback which at the moment is ranging and might offer an opportunity for longs with entry via the 60 min.

On 60 min look for either a zigzag or sideways correction and confirming PA
Follow The Markets Structure - Patience and Discipline
  • #619,949
  • Aug 30, 2021 4:26am Aug 30, 2021 4:26am
Quoting Pat Chiko
{quote} Hi Steve, Good call. Maybe price would like to test the level shown in chart below. (another SRF) {image}
GU - Account #2

Scalping long. test
Entry after rejection zone confirmed.

Scalping trade philosophy :

After entering position watch the market/price.
Is it doing what you thought it should be doing?
Comfortable with the position, if yes then add to the position.
If not get out, find a different level.
And do it again and again until satisfied with the position.



Attached Image (click to enlarge)
Click to Enlarge Name: gu 187.jpg Size: 262 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #619,950
  • Aug 30, 2021 4:29am Aug 30, 2021 4:29am
Quoting Pat Chiko
{quote} GU - Account #2 Scalping long. test Entry after rejection zone confirmed. {image}

Lol, was wondering if you would turn up on that rejection bar, how is that rejection zone confirmed without any bullish pa? no pressure after rejection!!!
Follow The Markets Structure - Patience and Discipline
  • #619,951
  • Aug 30, 2021 4:37am Aug 30, 2021 4:37am
Quoting Pat Chiko
{quote} GU - Account #2 Scalping long. test Entry after rejection zone confirmed. {image}
I’m short at the moment and I’m hoping price will get to 1.37043
But now that Professor PAT is buying I’m beginning to think I’m wrong....
My telegram: https://t.me/avidforex
  • #619,952
  • Aug 30, 2021 4:42am Aug 30, 2021 4:42am
still holding my shorts
TP 1.3734, 1.3717
no SL
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmicro-m30-xm-global-limited.png Size: 38 KB
dolce vita
  • #619,953
  • Aug 30, 2021 4:46am Aug 30, 2021 4:46am
holding my shorts with gj&gold as well
dolce vita
  • #619,954
  • Aug 30, 2021 4:49am Aug 30, 2021 4:49am
Analysis D1: In the daily timeframe we can see that the market shifted from a bearish structure to a bullish structure after breaking the last low hight of the bearish structure, and we also have another confirmation of the market shift because the price has not broken the low low of the bearish structure, so now i consider the market bullish.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2021-08-30_11-12-55.png Size: 117 KB

Analysis H4: In the H4 timeframe we can see that the market shifted from a bullish structure to a bearish structure and for now we need to wait and see if the price can break the lower hight of the bearish structure, if the market can break it we will be in a bullish market, but if the market can't break it we will remain in a bearish market, but remember from above that the last lower low that i have drawn down rappresent a fundamental pont in the D1 Chart, if in the H4 the price go under the lower low, the market remains bearish, and that also means the D1 timeframe market will become bearish.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2021-08-30_11-33-14.png Size: 112 KB

Analysis H1: Almost the same thing for the H1 timeframe, except in this case we have a more remarkable bullish structure, with a little bit of manipulation in the last HL, and we still wait for the break of the LH of the bearish structure.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2021-08-30_11-45-04.png Size: 96 KB


Trades: I personally will wait for the NY session and wait for the break, if the break occur as i said before i'm bullish so i will wait for an opportunity to enter a buy trade, but if it do not occur i will not wait for a sell trade because overall i'm bearish on DXY "Dollar Currency Index".

Remember it's only my personal opinion, i'm not giving financial advice.
My entire life in one sentence: it didn't go as planned, and that's ok.
Random Scalper All Time Return: 9.5%
  • #619,955
  • Aug 30, 2021 4:56am Aug 30, 2021 4:56am
Quoting babayaga
holding my shorts with gj&gold as well
what is your gold target ?
  • #619,956
  • Aug 30, 2021 5:01am Aug 30, 2021 5:01am
I can not see gold going down or cable too far


Gold daily is in uptrend which is bullish on weekly after correction

4H also in uptrend with minor correction and H1 showing the minor correction abc with rejection and bullish pressure
Follow The Markets Structure - Patience and Discipline
  • #619,957
  • Aug 30, 2021 5:03am Aug 30, 2021 5:03am
Quoting pipfarm
I can not see gold going down or cable too far Gold daily is in uptrend which is bullish on weekly after correction 4H also in uptrend with minor correction and H1 showing the minor correction abc with rejection and bullish pressure
where do you see gold by the end of the year? 3000?
  • #619,958
  • Aug 30, 2021 5:04am Aug 30, 2021 5:04am
Quoting Pat Chiko
{quote} GU - Account #2 Scalping long. test Entry after rejection zone confirmed. Scalping trade philosophy : After entering position watch the market/price. Is it doing what you thought it should be doing? Comfortable with the position, if yes then add to the position. If not get out, find a different level. And do it again and again until satisfied with the position. {image}
you are trading against mysterio. two traders i respect most in this tread.
hmm...
  • #619,959
  • Aug 30, 2021 5:06am Aug 30, 2021 5:06am
long scalp at 13748
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Mini_20210830_10.07.png Size: 47 KB
MY OPINION NOT FINANCIAL ADVISE
  • #619,960
  • Aug 30, 2021 5:08am Aug 30, 2021 5:08am
Quoting genadi
{quote} where do you see gold by the end of the year? 3000?

In my pocket, by the end of year i have no idea i just follow price via swings and pa but price on daily looks to be building to the long side after correction and monthly has a huge rejection bar not yet closed
Follow The Markets Structure - Patience and Discipline
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