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Cable Update (GBPUSD)

  • #645,741
  • Dec 22, 2021 8:00am Dec 22, 2021 8:00am
...5min bullish hidden div @ last pullback lo saw the next leg up from that prev 1hr sw hi zone = prev res = pot rbs...price testing deeper into the 1hr part of this prev 1hr/4hr sw hi zone = prev res = pot res now. 1hr and 4hr just closed are v.bullish thrust candles. Precipitous rise today so far...price now > 30day adr traveled and beyond 76.4% upside extension of y/day's pip range. Wkly R1 next calculated pivot @a/around 3348.

Any more sellers in this zone?

1hr below.
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Trader with an Edge.
  • #645,742
  • Dec 22, 2021 8:05am Dec 22, 2021 8:05am
Time for a little retracement?
I'm also selling USD/JPY, this is going to be a contradict trade.
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  • #645,743
  • Dec 22, 2021 8:19am Dec 22, 2021 8:19am
Quoting 3xtazzy
Time for a little retracement? I'm also selling USD/JPY, this is going to be a contradict trade. {image}
Difficult one on gbpusd - I too have some reversal set-ups on lower t/f's @ current dly hi but the R:R doesn't stack up re 1st ppa (potential problem area) - the prev 1hr sw hi zone (in light blue on chart below) that could act as potential rbs. Lets see what develops. G/L with your trades.

1hr below.
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Trader with an Edge.
  • #645,744
  • Dec 22, 2021 8:27am Dec 22, 2021 8:27am
Quoting mysterio
{quote} taken out breakeven still scanning for the sell
the sell is into year end, hold short Q1 2022, exit ahead of, 2Q 4/1/2022
  • #645,745
  • Dec 22, 2021 8:28am Dec 22, 2021 8:28am
I don't see GU crossing 1.337 area. I extend it to 1.34. I am thinking the fall is gonna be very hard. I'm still bearish till 1.34 is messed with porously
  • #645,746
  • Dec 22, 2021 8:36am Dec 22, 2021 8:36am
...deeper into 1hr part of the prev 1hr/4hr sw hi zone extending to 3339 @ current dly hi. 85.4% 3374-3174 is @ 3345. Dly R2 @ 3366. Bulls are strong today so far.

4hr below
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Trader with an Edge.
  • #645,747
  • Dec 22, 2021 8:36am Dec 22, 2021 8:36am
1.33333333333 troll price
Price turnback to where, he escaped from there
  • #645,748
  • Dec 22, 2021 8:41am Dec 22, 2021 8:41am
... supply could emerge anywhere from current dly hi to 3374.

If I was a longer-term trader and considering a longer-term short I would want my stop above of this 3374 prev 1hr/4hr/dly sw hi zone. I'm not so it's academic for me.

dly below.
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Trader with an Edge.
  • #645,749
  • Edited 9:20am Dec 22, 2021 8:42am | Edited 9:20am
Out from all longs. Daily ATR high, potential sell opportunity based on this.

(to search for entry into new buys)
Air force
  • #645,750
  • Dec 22, 2021 8:53am Dec 22, 2021 8:53am
...that's better...15min doji the trigger. in the regular bearish div play..more room re R:R re 1st ppa on 1hr as discussed in a prev post. Ie better chance of a meaningful scalp or to get your stop to B/E if holding.

15min below.
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Trader with an Edge.
  • #645,751
  • Dec 22, 2021 9:10am Dec 22, 2021 9:10am
Target didn't change yet, 3600/3700

Its slow, but i hope AM will close their big short bet for a big fat move up
COT: The precious data ignored
  • #645,752
  • Dec 22, 2021 9:49am Dec 22, 2021 9:49am
Quoting stevepatt
{quote} GBP/USD W1 Observations The question is whether there is enough Selling Pressure to Push Price Lower before the New Year..... {image} {image}

GBP/USD D1 Observations

2021 Low Holding Price Liquidity Building below....
Attached Image (click to enlarge)
Click to Enlarge Name: 22nd Dec 21 GBP_USD D1 Observations_20211222_15.34.png Size: 71 KB
  • #645,753
  • Dec 22, 2021 10:00am Dec 22, 2021 10:00am
  • #645,754
  • Dec 22, 2021 10:01am Dec 22, 2021 10:01am
bullish engulf thrust 1hr close after shallow pullback to, and bounce up from, another 1hr prev sw hi zone = prev res = pot rbs that indeed acted as rbs again. 85.4% 3374-3174 / wkly R1 reached at current dly hi. Possible rising wedge thingy on 1hr?

1hr below.
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Trader with an Edge.
  • #645,755
  • Dec 22, 2021 10:03am Dec 22, 2021 10:03am
Quoting stevepatt
{quote} GBP/USD D1 Observations 2021 Low Holding Price Liquidity Building below.... {image}

GBP/USD M30 Pending Short Trade

Entry 1.33520

Target 1.33320 +20 Pips

Stop 1.33650 (-13) Pips

EDIT: Trade Triggered 16.04 GMT
Attached Image (click to enlarge)
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  • #645,756
  • Dec 22, 2021 10:08am Dec 22, 2021 10:08am
...this dly prev sw hi zone extending to 3074 has seen a price swing point 3 times now on that t/f, as under;

Will it see one again on this t/f or are the bulls too strong?

dly below.
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Trader with an Edge.
  • #645,757
  • Dec 22, 2021 10:24am Dec 22, 2021 10:24am
Short 1.33600
SL 1.33750
TP 50 pips
  • #645,758
  • Dec 22, 2021 10:29am Dec 22, 2021 10:29am
Quoting Ihlas
Short 1.33600 SL 1.33750 TP 50 pips
gone short too but not for that many pips. Looking to swing back up around 13320-13330
Insane in the Brain..
  • #645,759
  • Dec 22, 2021 10:31am Dec 22, 2021 10:31am
1.3410 is the resistence of the 70%.
Together we can be strongest
Vantage Return This Month: na
  • #645,760
  • Dec 22, 2021 10:34am Dec 22, 2021 10:34am
Quoting Ihlas
Short 1.33600 SL 1.33750 TP 50 pips

who’s that sniper?
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