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Cable Update (GBPUSD)

  • #665,421
  • Jun 24, 2022 5:47am Jun 24, 2022 5:47am
Quoting bilal1947
{quote} Thank you. i kind of agree with the quote the work harder part, yet getting results is in God's hand. Our thing is to put the effort and leave it to God. {image}
Your wisdom is as gracious as your words, continue being a good human being. Cheers friend.
Data + Stat + Risk/Emotions Management
  • #665,422
  • Jun 24, 2022 5:50am Jun 24, 2022 5:50am
Quoting BeeTogether
{quote} Something needs to break. My short bias is still there till possibly a revisit of 118. However it might be the last drop below 120 was it and we could be ranging on a higher levels. Uk data hasn’t been great yet the pair have not moved.

Possible, even 1.16, but will it drop? Why hasn't dropped already when 68.1% was attempted 1.24? Strange, even Asia session was asleep last night.
Market is showing signs of exhaustion. Dxi is overpriced. Lets look for further clues later on.
  • #665,423
  • Jun 24, 2022 5:50am Jun 24, 2022 5:50am
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20220624_131958.jpg Size: 530 KB
yes yes yes
  • #665,424
  • Jun 24, 2022 5:54am Jun 24, 2022 5:54am
Quoting Jolita
{quote} Possible, even 1.16, but will it drop? Why hasn't dropped already when 68.1% was attempted 1.24? Strange, even Asia session was asleep last night. Market is showing signs of exhaustion. Dxi is overpriced. Lets look for further clues later on.
I think you nailed it with the market is possibly exhausted. USD is over priced but i feel
has more to go. It needs one more push down before a full on upward move to the 12750 area which has been alluding for a while.
Insane in the Brain..
  • #665,425
  • Jun 24, 2022 5:54am Jun 24, 2022 5:54am
Quoting TheForexDen
{quote} I just watch for momentum, take the daily high out and punch on up. From a range perspective, this should reach 1.235x easily but then, I've learnt the hard way to trade what you see, not what you think.
235x is quite far from the daily high so I am very glad you answered. Very interesting actually! Thanks!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #665,426
  • Jun 24, 2022 5:54am Jun 24, 2022 5:54am
Quoting Jolita
{quote} Possible, even 1.16, but will it drop? Why hasn't dropped already when 68.1% was attempted 1.24? Strange, even Asia session was asleep last night. Market is showing signs of exhaustion. Dxi is overpriced. Lets look for further clues later on.
It is very characteristic of price to show exhaustion after such wild drop from 1.3000 to 1.1933 and also full blown 200+ daily candles for 6 consecutive days.

The big boys need to gather fresh liquidity before next direction again. Looking at the take off from 1.19 seems weak, 70% of the times price still goes back to refresh such low before final take off.

My Year end forecast is 1.38. I may be wrong but that's what I see.
Data + Stat + Risk/Emotions Management
  • #665,427
  • Jun 24, 2022 5:55am Jun 24, 2022 5:55am
Quoting Jolita
Technicals still in bearish trend, until HH is made. Invisible buyers trying hard to change the trend, question is are they strong enough? 4 hr wedge, tried to break out {image} Weekly W or inverted H&S reversing towards {image} Month end next week. Monthly chart is kind of completed its bearish mission. Next week we should have more signs.
Nice chart
  • #665,428
  • Jun 24, 2022 5:56am Jun 24, 2022 5:56am
Look at the past week from Monday to today. Price it at top of this range.
We cut the winners short and let the losers run.
  • #665,429
  • Jun 24, 2022 5:57am Jun 24, 2022 5:57am
the more monthly close above 1.2250 is a sign of 1.28 and any retrace it will go up


at least my view for 3 months from now is bullish


after summer holiday


trade safe
MY OPINION NOT FINANCIAL ADVISE
  • #665,430
  • Jun 24, 2022 5:58am Jun 24, 2022 5:58am
Its amazing how much we gather from so little movement. What a day. Let's make this interesting now ! 2min to new high!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #665,431
  • Jun 24, 2022 5:59am Jun 24, 2022 5:59am
Quoting Moty
{image}
Thanks Again Moty.

Now I copy your set up.

Waiting for N3

Attached Image (click to enlarge)
Click to Enlarge Name: gu 023.jpg Size: 172 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #665,432
  • Jun 24, 2022 5:59am Jun 24, 2022 5:59am
Quoting BeeTogether
{quote} I think you nailed it with the market is possibly exhausted. USD is over priced but i feel has more to go. It needs one more push down before a full on upward move to the 12750 area which has been alluding for a while.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-06-24 at 11.52.36.png Size: 178 KB


*one other note, 1.28 was broken out but never retested
  • #665,433
  • Jun 24, 2022 6:01am Jun 24, 2022 6:01am
Quoting Jolita
Technicals still in bearish trend, until HH is made. Invisible buyers trying hard to change the trend, question is are they strong enough? 4 hr wedge, tried to break out {image} Weekly W or inverted H&S reversing towards {image} Month end next week. Monthly chart is kind of completed its bearish mission. Next week we should have more signs.
Attached Image (click to enlarge)
Click to Enlarge Name: bandicam 2022-06-24 11-00-19-314.jpg Size: 253 KB
MY OPINION NOT FINANCIAL ADVISE
  • #665,434
  • Jun 24, 2022 6:05am Jun 24, 2022 6:05am
Quoting Jolita
Technicals still in bearish trend, until HH is made. Invisible buyers trying hard to change the trend, question is are they strong enough? 4 hr wedge, tried to break out {image} Weekly W or inverted H&S reversing towards {image} Month end next week. Monthly chart is kind of completed its bearish mission. Next week we should have more signs.
Same think with you, I dont know why must up and up. I still sell GU. TP 1.2270.
  • #665,435
  • Jun 24, 2022 6:05am Jun 24, 2022 6:05am
Yes it's bearish, but we have to pop up top to confuse dumb money into thinking it's a continued uptrend.
The market has to complete screwing both sides of this range before it can trend again.
  • #665,436
  • Jun 24, 2022 6:10am Jun 24, 2022 6:10am
Quoting Moty
{image}
Quoting Pat Chiko
{quote} Thanks Again Moty. Now I copy your set up. Waiting for N3 {image}

Copy Moty's set up/trade.

Attached Image (click to enlarge)
Click to Enlarge Name: gu 024.jpg Size: 264 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #665,437
  • Jun 24, 2022 6:10am Jun 24, 2022 6:10am
Pat I have the same pattern however my retrace goes 200 pips below yours. Let’s see whose right
  • #665,438
  • Jun 24, 2022 6:11am Jun 24, 2022 6:11am
Quoting mtako
Its amazing how much we gather from so little movement. What a day. Let's make this interesting now ! 2min to new high!
BINGO! and dropped all the way back down 2min later again?
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #665,439
  • Jun 24, 2022 6:12am Jun 24, 2022 6:12am
Quoting Houtbay
Pat I have the same pattern however my retrace goes 200 pips below yours. Let’s see whose right

No understand, unless you use chart... then I understand.

I'm very visual person.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #665,440
  • Jun 24, 2022 6:12am Jun 24, 2022 6:12am
Quoting Pat Chiko
{quote} {quote} Copy Moty's set up/trade. {image}
Hahaha wtf Pat
People don't plan to lose. They lose because they don't plan.
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