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Cable Update (GBPUSD)

  • #676,261
  • Aug 17, 2022 5:59am Aug 17, 2022 5:59am
Longs are trapped. Market will wash out longs and then head up
  • #676,262
  • Aug 17, 2022 6:00am Aug 17, 2022 6:00am
I expect bullish momentum in the next hour. I get bored easily.

215 is a miracle today at this pace.
Face 'ur fears & tame 'ur greed
  • #676,263
  • Aug 17, 2022 6:02am Aug 17, 2022 6:02am
The 15 min doji is the problem... a lot of money on that candle and no clear winners I'm out the market for bit!
Don't trade what you think. Just what you see!!!
  • #676,264
  • Aug 17, 2022 6:04am Aug 17, 2022 6:04am
Here's where the real battle will be. To determine if the volume is going to stay trapped under 1.2050 or not.
So far, it's not looking good for it's survival
  • #676,265
  • Aug 17, 2022 6:05am Aug 17, 2022 6:05am
Quoting Reverso
{quote} The close of M15 candle after the US Retail sales news, made the market dumped, then reversed to the upside a lot, leaving a long down wick, end up still within the pivot range, no trade signal yet. It is going to close beyond upper or lower end of pivot at some point, it needs to leave this no man's land zone. Close above 1.20826 = Go long, SL 1.20626 Close below 1.20626 = Go short, SL 1.20826
Just when I thought I will get an entry, towards the last minute the candle reversed back into pivot, thinking I will not have a signal, then at the very last few seconds the candle closed marginally below the Pivot! Candle close is 1.20620, lower end of pivot is 1.20626, technically still below it and qualifies as valid signal.

But marginal close like this, I prefer it to close a bit further to safely take the signal.
As of writing time, the next candle after the "marginal signal" is quite red, bearish momentum starts to kick in, most likely after this current M15 candle I will enter Short.

Another thing is, the price structure after piercing the daily pivot to the downside today, after that the price structure looks like it retest the upper end of daily pivot and go down from there, another supportive signal the next move is down perhaps.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #676,266
  • Edited 7:09am Aug 17, 2022 6:10am | Edited 7:09am
Probably 2050 is going to support for going forward.

May be for rest of the week ?

Fingers crossed.

Took long with stop 2050
Intraday only.
  • #676,267
  • Aug 17, 2022 6:17am Aug 17, 2022 6:17am
Lol I hate it when the market wastes my time, price is so close to key levels to generate signals, I am forced to stay in front of computer and it has been 3 candles already, showing valid signals only to reverse at the end to disqualify the signal, just dip a bit more and close there so i can enter short and get this over with...
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #676,268
  • Aug 17, 2022 6:19am Aug 17, 2022 6:19am
Quoting Reverso
Lol I hate it when the market wastes my time, price is so close to key levels to generate signals, I am forced to stay in front of computer and it has been 3 candles already, showing valid signals only to reverse at the end to disqualify the signal, just dip a bit more and close there so i can enter short and get this over with...
we have totally different views.

I am thinking this 2050 may support for rest of the day atleast.

Anyways market does not do what we think, always.
Intraday only.
  • #676,269
  • Aug 17, 2022 6:25am Aug 17, 2022 6:25am
Quoting navk
{quote} we have totally different views. I am thinking this 2050 may support for rest of the day atleast. Anyways market does not do what we think, always.
Considering a few failed attempts to generate Sell signal, perhaps the market is telling me Sell is not the answer?
It is either close beyond 1.20626 or 1.20826 for Short or Long as per my system, I will wait until a valid signal occurs.

And yes, the market doesnt give a sh1t what we think, just venting my frustration...

By the way there's a support near the lows of the Retail sales news, perhaps the price is actually supported by it and eventually come out at the other side of the Pivot (upside) and give me a Buy? Time will tell.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #676,270
  • Aug 17, 2022 6:27am Aug 17, 2022 6:27am
Quoting navk
{quote} we have totally different views. I am thinking this 2050 may support for rest of the day atleast. Anyways market does not do what we think, always.
If it does, then we can expect a tap back into volume for a buy trade out of here.
  • #676,271
  • Aug 17, 2022 6:31am Aug 17, 2022 6:31am
To me, yesterday low has been formed for this week.

What has happened today is correction to yesterday long PA.

Hope so.

lol
Intraday only.
  • #676,272
  • Aug 17, 2022 6:32am Aug 17, 2022 6:32am
Appear to have found some support, and USDX has hit resistance. And there is higher volume manipulating these occurrences then not. Leading me to believe at least until the news, that this is the way the banks wish to go. We are treading from the bottom of a fairly decent support zone but also very closely stuck under a new resistance.
The markets are neutral to us. Our emotions are the enemy.
  • #676,273
  • Edited 6:46am Aug 17, 2022 6:32am | Edited 6:46am
Quoting Reverso
Lol I hate it when the market wastes my time, price is so close to key levels to generate signals, I am forced to stay in front of computer and it has been 3 candles already, showing valid signals only to reverse at the end to disqualify the signal, just dip a bit more and close there so i can enter short and get this over with...
Could be worse, you could be in a losing trade. That 15 min candle is where the battle is with the Bulls and Bears. When it comes out of there - clear winner and I plan to take full advantage and will be pulling the trigger!

Coreg2004 cheers for the chart. The kick up the ar8e I needed!!!!!
Don't trade what you think. Just what you see!!!
  • #676,274
  • Aug 17, 2022 6:34am Aug 17, 2022 6:34am
GU:H1
My View: Bear's are not finished yet.
I am waiting for long because last leg was not complete.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 34 KB
Intraday Trading is an Art _ hoda
  • #676,275
  • Aug 17, 2022 6:35am Aug 17, 2022 6:35am
The more I look at this, 2050 is not going to hold. It will go lower. Just how far low is the question.
  • #676,276
  • Aug 17, 2022 6:37am Aug 17, 2022 6:37am
GBPJPY LONG...
Low risk please.. Pair has already moved 110 pips to the upside.. but we found a good support so we long again,,
My telegram: https://t.me/avidforex
  • #676,277
  • Aug 17, 2022 6:38am Aug 17, 2022 6:38am
GBPNZD LONG
Target 1.93333333333
My telegram: https://t.me/avidforex
  • #676,278
  • Aug 17, 2022 6:42am Aug 17, 2022 6:42am
Quoting voeltoez
{quote} Possible target 1.2053 Merdeka!!! {image}
key level to more down is 1.2023...if bounce..we will see 1.2300 this week...
if break..welcoming 1.1900 and 1.1800 next week
  • #676,279
  • Aug 17, 2022 6:44am Aug 17, 2022 6:44am
Quoting EvilEye
The more I look at this, 2050 is not going to hold. It will go lower. Just how far low is the question.
Attached Image (click to enlarge)
Click to Enlarge Name: hold.jpg Size: 88 KB
2050
...because you never know - until you do!
  • #676,280
  • Edited 7:01am Aug 17, 2022 6:50am | Edited 7:01am
Quoting navk
{quote} we have totally different views. I am thinking this 2050 may support for rest of the day atleast. Anyways market does not do what we think, always.
The Wolf hinted a great opinion on that topic here, yesterday! [If you ddnt read through, please do]

I am soon coming to a conclusion that it does but after a series of rotation and complexity. All simply to divert our attention from our plan. I respect those that give patience for their plans to mature and yield results. I have seen three reputable traders here so far; Mr. BURGER, Scalafx, Pat Chiko & WaveG. Well done to y'all.


My dream is to make a good student out of those mentioned and share my knowledge worldwide!
Face 'ur fears & tame 'ur greed
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