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Cable Update (GBPUSD)

  • #669,041
  • Jul 12, 2022 12:47pm Jul 12, 2022 12:47pm
Quoting Moty
I will really like to see a bullish daily candle close today {image}
I hope it does that.

But it would have been better if the market tested today low before going high.
  • #669,042
  • Jul 12, 2022 12:49pm Jul 12, 2022 12:49pm
Quoting Wavegarrick
{quote} Hi Guys, I have on some good advice from friends and supporters via pm and shouts, decided to continue my posts here. I am in buy trades and all locked in. We are at important levels and with less than six months left there is a lot of fuel in the tank to make a good run for it. Have a great week. Cheers Leon. {image}

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MY OPINION NOT FINANCIAL ADVISE
  • #669,043
  • Jul 12, 2022 12:57pm Jul 12, 2022 12:57pm
Selling time !!! sold 19035. 1min pullback 5pips SL
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #669,044
  • Jul 12, 2022 12:59pm Jul 12, 2022 12:59pm
Quoting mtako
Selling time !!! sold 19035. 1min pullback 5pips SL
1minute too early ! -5 UPDATE Sell stop 19077!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #669,045
  • Jul 12, 2022 12:59pm Jul 12, 2022 12:59pm
Quoting donfriday
looking for sell from 1.1975 and tp at 1.1750


little advice

the trend is bearish but even you want to sell try and find a good price to sell ..
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MY OPINION NOT FINANCIAL ADVISE
  • #669,046
  • Jul 12, 2022 1:02pm Jul 12, 2022 1:02pm
Quoting Wavegarrick
{quote} Hi Guys, I have on some good advice from friends and supporters via pm and shouts, decided to continue my posts here. I am in buy trades and all locked in. We are at important levels and with less than six months left there is a lot of fuel in the tank to make a good run for it. Have a great week. Cheers Leon. {image}
When it comes to trend line breaks I certainly prefer Usdx. We could be in for another squeeze up but a break below 107.500 should give GU bulls a boost. My weekly res 1 at 108.033 could be telling. I have this week for price to do its thing and from the 20th of this month we could see more decisive action.
Cheers.
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Trade to trade another day
  • #669,047
  • Jul 12, 2022 1:10pm Jul 12, 2022 1:10pm
If bears are mysteriously not done this late in the day, I sell more.All with starting SL at 1925, all SL moving at BE with next sell stop triggered. Probably nothing will happen though. Its late and price is showing more signs of ranging dancing time !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #669,048
  • Edited 1:39pm Jul 12, 2022 1:16pm | Edited 1:39pm
...strong bounce in the end from that current and likely dly lo - the 85.4% of 1410-4249 multi-year up move. 100+ pips so far.
EDIT: added the near-term 3 (+) fib clusters of 1hr+ swing hi's to and assuming 1807 lo.

There's potential for 2hr bearish hidden div to develop on any deeper upmove whilst price below 2047.

1hr below
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Trader with an Edge.
  • #669,049
  • Jul 12, 2022 1:25pm Jul 12, 2022 1:25pm
Quoting donfriday
{quote} little advice the trend is bearish but even you want to sell try and find a good price to sell .. {image}
Good tips as always ! I believe that it also depends on the time of day and how price is acting at the moment. In this case, I believe that by the time it would get that far, the day would be over and I would prefer to wait for tomorrow and reassess; but time alone means nothing of course... Also down momentum still has some potential if this pullback has reached its end. Maybe for another 20-30pips.

And back to my crazy funny business... I say its a coin toss now:
a coin with 5 sides:
one proud bull,
one proud bear,
one winking baby bear ,
and 2 mixed bear/bull couples mingling(tightly ranging) ad infinitum.

I was almost all in bull till that 1914 move failed miserably twice and 1925 not even reached early enough.

Fun!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #669,050
  • Jul 12, 2022 1:40pm Jul 12, 2022 1:40pm
1.19041 is support for Gbpusd
  • #669,051
  • Jul 12, 2022 1:49pm Jul 12, 2022 1:49pm
Quoting mtako
in my own faulty calculations, historically, with this level of volatility and in such "oversold" territory, probability of an above average move should be very close for both direction BUT there is plenty of indecision at this moment, which is toning it all down for me. We are back in yesterday's low's Land of the Wicked Wicks, and I would not be surprised if it spent the rest of the day bathing in it, again. Buy stop 19144 ! SLTP30
I guess this is it? borrrrrrinnngggg... anyone has good joke, music, insight for the rest of the month ? Looks like this day will end exactly like Friday. Friday was a Hammer and its high was the perfect SL for yesterdays drop. Love those treacherous hammers ! Sometimes they come in pairs. Lets hope, for bulls, that that will not be the case tomorrow, again !
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #669,052
  • Jul 12, 2022 2:05pm Jul 12, 2022 2:05pm
Quoting mtako
{quote} 1minute too early ! -5 UPDATE Sell stop 19077!
SL at BE. no ranging allowed now, pleeeeease Sell stop 18888, where my 1898 SL would be moved at BE. But right here is probable lows of end of day micro-ranging...

1H pull back coming to an end? Way too early to tell. Probably get another attempt tomorrow.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #669,053
  • Jul 12, 2022 2:07pm Jul 12, 2022 2:07pm
... a potential pt.4 in the making on 4hr - of a potential exp tri.. when it does become a fractal swing at the current dly hi or higher (ie A H above the last LH @ pt.2) then we could see a pt.5 develop @ a fib retrace or ext of move 3-4.

One to keep an eye on - see if it develops as such.

4hr below
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Trader with an Edge.
  • #669,054
  • Jul 12, 2022 2:09pm Jul 12, 2022 2:09pm
1.1750 and below on the horizon
POSTMASTER
  • #669,055
  • Jul 12, 2022 2:10pm Jul 12, 2022 2:10pm
Quoting eyefeelsix
{quote} my heart is pounding watching the battle last night in here

Mine too, kind of stressful.

Amazing trades once more thanks for your insight.
  • #669,056
  • Jul 12, 2022 2:13pm Jul 12, 2022 2:13pm
Quoting Headland
... a potential pt.4 in the making on 4hr - of a potential exp tri.. when it does become a fractal swing at the current dly hi or higher (ie A H above the last LH @ pt.2) then we could see a pt.5 develop @ a fib retrace or ext of move 3-4. One to keep an eye on - see if it develops as such. 4hr below {image}
I Headland. Forgive my ignorance. What is "pt." "exp tri." "ext" Thanks!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #669,057
  • Jul 12, 2022 2:14pm Jul 12, 2022 2:14pm
It should find some support around 1.1885 and maybe some rejection but its bearish
POSTMASTER
  • #669,058
  • Jul 12, 2022 2:17pm Jul 12, 2022 2:17pm
Quoting Headland
... a potential pt.4 in the making on 4hr - of a potential exp tri.. when it does become a fractal swing at the current dly hi or higher (ie A H above the last LH @ pt.2) then we could see a pt.5 develop @ a fib retrace or ext of move 3-4. One to keep an eye on - see if it develops as such. 4hr below {image}
I’d say 4 could be a slightly higher level to enable a bigger drop? So potentially 11975?
Insane in the Brain..
  • #669,059
  • Edited 5:39pm Jul 12, 2022 2:18pm | Edited 5:39pm
Quoting mtako
{quote} I Headland. Forgive my ignorance. What is "pt." "exp tri." "ext" Thanks!
Sorry for the abbreviations, an expanding triangle (exp tri) is a classic reversal pattern = so for a bullish pattern, point 1 of the pattern (pt.1) is @ a L or LL, pt.2 @ a LH, pt.3 @ a LL, pt.4 @ a H, and Pt.5 comes at either a LL or HL, ie as a fib extension (LL) or retrace (HL) of the move 3-4, which targets a fib extension (ext) of move 4-5. (All vice versa re bearish version pattern. ) See my 4hr chart above for the bullish version. If the pattern appears on the 4hr for example ,you could drop down to 1hr for an earlier entry at points 4 and 5, which are really the tradable points in the pattern,

Quoting BeeTogether
{quote} I’d say 4 could be a slightly higher level to enable a bigger drop? So potentially 11975?
Could well be, point 4 is best @ a fib extension of move 2-3, so yeh higher would be better in this case, but not absolutely necessary re the rules of the pattern as I understand them. So long in this bullish example that pt.4 is higher than pt.2 to give rise to the 'expansion' of price in the pattern.
Trader with an Edge.
  • #669,060
  • Jul 12, 2022 2:24pm Jul 12, 2022 2:24pm
Quoting Headland
{quote} Sorry for the abbreviations, an expanding triangle (exp tri) is a classic reversal pattern = so for a bullish pattern, point 1 of the pattern (pt.1) is @ a L or LL, pt.2 @ a LH, pt.3 @ a LL, pt.4 @ a H and Pt.5 comes at either a LL or HL as a fib extension (LL) or retrace (HL) of the move 3-4 to target a fib extension (ext) of move 4-5. (all vice versa re bearish version. ) See my 4hr chart above. If the pattern appears on the 4hr for example you could drop down to 1hr for an earlier entry at points 4 and 5 which are really the tradable...
Loving it! thanks a lot mate ! I systematically make parallels between what is shared on this forum and my own trading. Shares like these especially. These explanations of yours make it possible, cheers !

Quoting mtako
{quote} And now I have to go empty mine Sell stop 1.18978 where I would close my .18944 long temporarily. Love the tension! {image}
SL at BE as my 18888 is triggered.


moving at last? Objective for the day for my shorts as of now : get out of this historically indecisive region, so need minimum <1870.
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
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