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Cable Update (GBPUSD)

  • #651,861
  • Feb 12, 2022 11:09am Feb 12, 2022 11:09am
Quoting trumps
{quote} Hi Kwt4x, I'm not making any decisions at this point, simply pointing out that the hammer has not yet had a close above it. There are other things on my chart that hint at my bias, but I am flat right now, waiting for more clarity. We can go up and down the TF's to look for Sup/Res/TL clues, then look lower TF's for some form of signal. That's what I'm doing. Cheers
best wish's my friend

cheers,
"the public is not yet ready for it" W.D. GANN
  • #651,862
  • Feb 12, 2022 8:39pm Feb 12, 2022 8:39pm
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not euphoria follower
  • #651,863
  • Feb 13, 2022 6:57am Feb 13, 2022 6:57am
...4hr shows the last candle close before the w/e break on this t/f was a bearish engulf (gmt+2 4hr feed.) Is this a clue as to near-term future price discovery at open and beyond? The t/f is clearly ranging and you can see all the potential res and supp above and below current price respectively. These have been hit several times so theoretically must be weakened. As I discussed in my last post, whilst Friday and last week as a whole closed mildly bullish but it is anyone's guess as to which way this current range/consolidation will break. I'll leave the predictions and forecasts to those that believe they have that gift, and/or think that it is necessary in trading.

Just on a geo-political point you can bet China will be watching 'the west's' reaction to the Ukraine thing, particularly if it kicks off for real, in respect of their intentions towards Taiwan.

4hr below.
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Trader with an Edge.
  • #651,864
  • Feb 13, 2022 7:13am Feb 13, 2022 7:13am
Quoting Wavegarrick
{quote} An important area for bulls folks, More importantly, can we close the day above 1.35500? Trade safe, Cheers. {image}
Hi Guys, Interesting scenario unfolding. We have not had a daily close above 1.35500 in the past week, let alone a weekly close. We have also not had a daily close below my, monthly pivot at 1.35172. Could this be a major support/res zone development? Seeing that this is significant I will treat both scenarios quite seriously with a daily breakout and close of both above or below.
For panicked scalpers without stop losses, my future weekly pivot at 1.35602 should be attained.
We have had weekly higher highs and higher lows so from this perspective I remain Bullish until the 20th of this month at least.
Take note: a daily close below 1.3500 especially will be a sign that bears are stepping in.
Have a great week,
Cheers.
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Trade to trade another day
  • #651,865
  • Feb 13, 2022 9:15am Feb 13, 2022 9:15am
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Intraday Trading is an Art _ hoda
  • #651,866
  • Feb 13, 2022 9:46am Feb 13, 2022 9:46am
Quoting hoda
{image}
That's a nice analysis, but I prefer a smoother, less cluttered view like this simple D2 line alone. It shows clearly this up continuation (that is riding on the W2 up swing)

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To free Gazans of Hamas, use whatever it takes.
  • #651,867
  • Feb 13, 2022 11:53am Feb 13, 2022 11:53am
in my view based on the 4 hourly chart we are in wave 4.....i still have a target of 1.41 or so.
  • #651,868
  • Feb 13, 2022 11:54am Feb 13, 2022 11:54am
Quoting DrDave
{quote} no point in using advanced measurements since no one is interested in math 1. Who is using advanced measurements???? I simply said look at swings! No measurements needed for that. 2. You are clearly wrong in stating that no one is interested in math. And your copious lines on the chart mean nothing to anyone if you don't give some information about what they are. Swings, on the other hand, are learned in Trading 101.

Speak for yourself Drdave I love Math.
  • #651,869
  • Feb 13, 2022 12:11pm Feb 13, 2022 12:11pm
Whatever weekly may try still in bear setup of big ranges like eurusd! So bear favored till there any bull set up of similar ranges develops! Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #651,870
  • Feb 13, 2022 12:45pm Feb 13, 2022 12:45pm
Quoting fontu
Whatever weekly may try still in bear setup of bi ranges like eurusd! So bear favored till there any bull set up of similar ranges develops! Take care {image} {image} {image}
LOL
  • #651,871
  • Feb 13, 2022 12:52pm Feb 13, 2022 12:52pm
Quoting ninner
{quote} Speak for yourself Drdave I love Math.
Did you miss this part of my reply??

"2. You are clearly wrong in stating that no one is interested in math."
To free Gazans of Hamas, use whatever it takes.
  • #651,872
  • Feb 13, 2022 1:12pm Feb 13, 2022 1:12pm
Quoting DrDave
{quote} Did you miss this part of my reply?? "2. You are clearly wrong in stating that no one is interested in math."

LOL
  • #651,873
  • Feb 13, 2022 1:30pm Feb 13, 2022 1:30pm
GBPUSD market operation is in a bullish mode but experiencing increased bearish pressure. On the daily time frame, bullish price action is retesting the 1.35870/1.36450 daily supply zone (magenta) – which is nestled in the 1.35530/1.37450 weekly supply zone (red) – but it is being resisted by bears. The ‘wicky’ and bearish candlesticks printed in the zone indicate increased selling pressure. We may not have much directional momentum because the nearby 1.35290 area (green) is holding as horizontal support and even if it is broken down, price action would still have to tackle the technical challenge at the 1.34830 area. Personally, I will await how price action handled these two areas – the 1.35290 area and the 1.34830 area – upon Monday close.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #651,874
  • Feb 13, 2022 1:35pm Feb 13, 2022 1:35pm
Quoting KeenPips
GBPUSD market operation is in a bullish mode but experiencing increased bearish pressure. On the daily time frame, bullish price action is retesting the 1.35870/1.36450 daily supply zone (magenta) – which is nestled in the 1.35530/1.37450 weekly supply zone (red) – but it is being resisted by bears. The ‘wicky’ and bearish candlesticks printed in the zone indicate increased selling pressure. We may not have much directional momentum because the nearby 1.35290 area (green) is holding as horizontal support and even if it is broken down, price action...
If you look at the 4 hour the waves are impulsive.....going higher.
  • #651,875
  • Feb 13, 2022 1:40pm Feb 13, 2022 1:40pm
Quoting ninner
{quote} If you look at the 4 hour the waves are impulsive.....going higher.
daily also looks impulsive and could be just starting a whole new wave structure.....exciting times to be long gbpusd baby!!!!!
  • #651,876
  • Feb 13, 2022 1:42pm Feb 13, 2022 1:42pm
Noted with thanks. But I analyze and trade differently.

Trade safe.

KP

Quoting ninner
{quote} daily also looks impulsive and could be just starting a whole new wave structure.....exciting times to be long gbpusd baby!!!!!
Do your homework, follow the footprints of smart money
  • #651,877
  • Feb 13, 2022 1:44pm Feb 13, 2022 1:44pm
Initial thoughts for tomorrow

May change view overnight
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  • #651,878
  • Feb 13, 2022 1:45pm Feb 13, 2022 1:45pm
H4 tf GBPUSD chart:

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KP


Quoting KeenPips
Noted with thanks. But I analyze and trade differently. Trade safe. KP {quote}
Do your homework, follow the footprints of smart money
  • #651,879
  • Feb 13, 2022 1:46pm Feb 13, 2022 1:46pm
Quoting KeenPips
Noted with thanks. But I analyze and trade differently. Trade safe. KP {quote}

NOTED.....

Trade Safe.
  • #651,880
  • Feb 13, 2022 5:15pm Feb 13, 2022 5:15pm
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yes yes yes
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