Cable Update (GBPUSD)

I’m looking to short however we may see a rise towards 1220-12220. Personally I’d like to be out before NFP.

2130 is probably the low for today to me.

Seems like they have not filled the rocket boosters with fuel since fuel has become so expensive

Possibly a slow tick tick ride up…

They found that someone had stolen the fuel out of the boosters.

I've already factored that in.
Poised for short if this new high stalls...

What's bugging me is yesterday's price action above 2207 that didn't show up on my chart, but showed up on others.
That completely changes everything. If price never got up there yesterday then it makes sense we'd go up there today.

Again with extra space for SL

same set up .. just with extra space for SL

Evil eye as quickly as something rises as quickly as it falls. Currently have some wind at our backs, but when the direction changes then it acts as a hinderance. I think that we will have some early upside with a turn around later in the day.

1. Level 1.21370 acted as recent support and unwilling to break down.
2. Yesterday's down move was short lived and reversed back to upside.
3. Pivot placement today is a clear bullish placement.

All signs point to uptrend continuing, possible entries (M15 chart) are:

1. Long, a close above 1.21822, SL 1.21570.
2. Long, bounce off today's pivot area of 1.21513 - 1.21397 and close above it, SL lower end of pivot 1.21397, signal extra strong if touched lower important level of 1.21438 and reverse from there.
3. Short, if closed below the pivot area mentioned in point 2, SL will be upper end of pivot 1.21513 (if the SL is too tight for you, you may put 1.21689 as SL).

If I were to trade for today, if valid signal occurs before NFP, I will take it and see if hit TP or SL or not before NFP, if no outcome, will exit before NFP.
After NFP, if there is an extreme candle, I may look for signs of reversal and fade the move.

I am leaning towards not trading today, NFP is just 1 day in a month, let it be and better be safe than sorry.
I might trade only if the price structure leading to the valid entry looks promising enough, eg: a clear V reversal off the daily pivot.

the key is 1.2178
all (closed H4) below is for sale

Who ever is flying this rocket has never been to space. They say that Boris ised the fuel at one of his parties to warm the heaters.

Today is Friday Mate and usually produces erratic price action. 1.2060 is still holding and that's enough clue the bulls are in control until it breaks down before the bears can take control again. Keeping an open mind as regards to price movement will do traders a world of good.

Today's range likely between 100 - 150 pips which means either 1.2000 or 1.2280 will be visited today.

Above 1.2060 exposes 1.2280, below 1.2060 exposes 1.2000 simple.

Just sharing my idea.

Cheers,
George.

Why is everyone so serious one can talk and learn. One learns by participating.

Scalp 5 pips

out 5 pips


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Added more 6 pips


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Added micro lot for testing

One never learns without participating and making mistakes. Yesterday Georginsons call taught me a good lesson. One must never be scared to be wrong and must be willing to learn from errors in thinking. As random as day trading might seem, there is actually a story that price movement tells us. A common fault is that we don’t see, act to early or let our egos or money thoughts hinder our clear judgement. There are wonderful traders on this site. Don’t be afraid to learn new to be wrong. We all start at the same point.

Red alert..

G/M, some consolidation within the body of y/day's spinning top type dly candle right now...bit of a diamond pattern on 1hr & 4hr? U.s NFP later.

1hr below

1.2140 looks like a key zone to me. I' quite bearish based on the higher timeframes, so will wait for downward pressure.

Itchy fingers haha