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Cable Update (GBPUSD)

  • #674,701
  • Aug 10, 2022 11:30am Aug 10, 2022 11:30am
Looks like we finally broke out of a downtrend. We can expect higher levels. But a lot of negative data on GU makes it difficult to trade.
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  • #674,702
  • Aug 10, 2022 11:39am Aug 10, 2022 11:39am
Quoting Moty
{quote} because i said so {image} {image} {image}
Agree but take the money at 38%

good luck
  • #674,703
  • Aug 10, 2022 12:00pm Aug 10, 2022 12:00pm
Quoting ForexGoose
{quote} 1.225 stalled the bulls, but they might try again today i bought at 1.22, stop loss under 1.215, targets 1.225 and 1.238 {image}
waiting for it to reach 1.238

maybe that will happen tomorrow
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #674,704
  • Aug 10, 2022 12:07pm Aug 10, 2022 12:07pm
Quoting anandy1
Looks like we finally broke out of a downtrend. We can expect higher levels. But a lot of negative data on GU makes it difficult to trade. {image}
More damping space from higher levels, less damage for cable.
  • #674,705
  • Aug 10, 2022 12:17pm Aug 10, 2022 12:17pm
1.2518 is very reasonable price to reach in the short term.
1.219X is where i will stuck longs.
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  • #674,706
  • Aug 10, 2022 12:31pm Aug 10, 2022 12:31pm
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yes yes yes
  • #674,707
  • Aug 10, 2022 12:40pm Aug 10, 2022 12:40pm
Quoting Jolita
{quote} More damping space from higher levels, less damage for cable.

1.23 needs to become support and i reckon im gonna live lol
  • #674,708
  • Aug 10, 2022 1:04pm Aug 10, 2022 1:04pm
Drop mf !!!!!!!
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yes yes yes
  • #674,709
  • Aug 10, 2022 1:16pm Aug 10, 2022 1:16pm
....4hr and dly below show that @ the current dly hi price entered the dly part of the prev 1hr/4hr/dly sw hi zone that extends to 2293, and just touched the bottom of the 4hr part. Of course the hi is in the prev 1hr sw lo to 2279 just below the 4hr/1hr part of it.

As someone else here pointed out earlier, looks like an inverted H&S on dly withy 2293 the right neckline so it points, at least, to a break above it as some point, should the pattern hold/stay good.

All eyes on U.s Ppi tomorrow now. Uk Gdp on Friday too.
10/20/50 ema crosses as they currently are, are below.

4hr, then dly, below, then ema crosses.
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Trader with an Edge.
  • #674,710
  • Aug 10, 2022 1:20pm Aug 10, 2022 1:20pm
GU Short setup
Partial TP blue line
2nd TP is at RSf. T
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At RSf, we can long.
Tomorrow PPI eyed.
More time in the market, does not mean you trade better!
  • #674,711
  • Aug 10, 2022 1:29pm Aug 10, 2022 1:29pm
Hey all!
See my newest chart for this pair. BAT on H1
Risk Management is of utmost importance!
  • #674,712
  • Aug 10, 2022 1:31pm Aug 10, 2022 1:31pm
It's hammer time
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yes yes yes
  • #674,713
  • Aug 10, 2022 1:31pm Aug 10, 2022 1:31pm
... updated

1hr below
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Trader with an Edge.
  • #674,714
  • Aug 10, 2022 1:42pm Aug 10, 2022 1:42pm
Short @1.2230
SL 1.229

TP open
Face 'ur fears & tame 'ur greed
  • #674,715
  • Aug 10, 2022 1:52pm Aug 10, 2022 1:52pm
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set and forget
be a thinker before being a reacter
  • #674,716
  • Aug 10, 2022 2:11pm Aug 10, 2022 2:11pm
Quoting Moty
price need to come back to his source {image}
Say hello
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yes yes yes
  • #674,717
  • Aug 10, 2022 2:37pm Aug 10, 2022 2:37pm
All shorts closed at 2215. Wait to snipe again.
  • #674,718
  • Aug 10, 2022 2:38pm Aug 10, 2022 2:38pm
Quoting Moty
{quote} Say hello {image}
if i were you i would try to break even and wait for market to range for another setup tomorrow.
  • #674,719
  • Aug 10, 2022 2:39pm Aug 10, 2022 2:39pm
Quoting Mitiblotch
All shorts closed at 2215. Wait to snipe again.
well said
  • #674,720
  • Aug 10, 2022 2:46pm Aug 10, 2022 2:46pm
1st support
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Trendlines H1,H4, SMC
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