Cable Update (GBPUSD)

For Monday, the price unlikely to break friday high.

IMO.

Look for 60 pips minimum. ( down )

Downside, unlikely to break below 3470 ( for monday )

Jolita let me share my years experience with you

big players dont buy until they have a clear swing low
they dont sell either until price make clear swing high

this guys are always looking for the cheap price to pull their shot

some lows will be tested last week friday is a trap cus thats awkward to see such buying on the first day of new month. NFP is coming



since 2020 gave us all time low according to fractal we need another 2 years to confirm that fractal and fully bulls can break 145 and 150 until then we have to play below these numbers

anyone that use fractal uderstand it takes the middle of 5 bars to form a swing low.

Ideal time to take short would be after 9 pm EST, 2nd 4 hr candle.

why did i bough btccash?

sometime i make mistake with my swing setting but on this i didnt


fibo show me the drop is a chance to buy the dip
here is a retracement and the projection
i started buying when the price approach 25% its enough dip if we dip below the 0.0 then the settings become invalid

Xauusd too can be sold below Monday high.
I MO

I don't use any indicator but occasionally I will look for divergence so MACD
otherwise, I think they are lagging

I wish I had a system perhaps it would make me more mechanical but I have no idea which indicators are effective

May be this, who knows.

Friday closed with strong Demand.....clear reading volume

No one knows for sure which way future price discovery will take us next over any given time horizon. Georginson's range+ analysis for example, as he has generously posted here, suggests the downside is more probable, and the greater probability plays out more times than it doesn't - hence the term. My TA studies/edge as I posted on Friday suggests that the mthly/wkly and dly look more bearish than bullish as of Friday's close, but like I do every week, I closed the week flat and will await the first set-up per my edge on the t/f's I operate on, in the context of overall price action on those t/f's of interest, whatever that happens to be.

Assuming the greater probability per George's analysis plays out, and therefore looking to the downside below last week's 3411 lo....the next 4hr+ previous price swing of note is the prev 4hr sw lo zone that runs circa 3336-04, then there is a prev 4hr/spike dly sw lo zone down to 3188, the 4hr part being 3217-3188. This 3188 prev sw lo actually found support in the prev dly/wkly sw lo zone down to 3133. (These are all from December last year, 2020.) Of course there are the usual wkly and mthly calculated/floor pivots too and a few longer-term fibs of the major swing lo's up from and including 1410 all to that 4249 current yearly hi.

To the immediate upside; Friday's 3575 hi just sneaked into that prev 4hr/dly }x4/wkly x2 sw lo zone = prev supp = pot sbr that extends from 3566 to circa 3610. The now prev 1hr/minor 4hr sw hi zone to friday's 3575 hi and that zone are the near-term potential obstacles of note for the bulls. 2 x fibs of the major swing hi's down from 4249 to last week's 3411 lo are in that zone.

Embrace uncertainty, you may as well, as nothing is 100% certain - you don't have to know what will happen next to make money in trading.

Wkly is below.

since may we've seen a drop and with ups and down and just 1 day in fact 1st day of new month and 4th quarter you are suddenly bullish .



u suddenly bullish without a confirmed swing low, high and higher low

Very well put mate.

GBPUSD market operation is bearish. On the daily time frame, price action is in a falling wedge (blue). Presently, it is in a bullish correction of a bearish drop from a daily supply zone, and we may see a southward turnaround after a northward pullback to an area of value, such as the 1.37000 daily supply area. The technical impulse and order flow favour bears.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Gap up

LL and UP previous weeks height Just my zero cent here

LL? Below 3400?

IMHO 10 pips more or less
Maybe we will form W pattern

i think first 1.36+
but im not trading this move.
This week im going to be extra patient, want to let price settled down a little bit

Buy
tp 1.36075
45 pips

Added buy @ last friday swing close. Lets see if we can get any continue today

Bisa in slow mode till 3650 - 3690 an