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Cable Update (GBPUSD)

  • #677,341
  • Aug 22, 2022 3:16am Aug 22, 2022 3:16am
Quoting eyefeelsix
{quote} add currently short atm, risk 13p @today high
we are in the last wave which is fifth --- my work job is done for the bear

Attached Image (click to enlarge)
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  • #677,342
  • Aug 22, 2022 3:19am Aug 22, 2022 3:19am
Quoting Theoak
{quote} Not looking good for cable. I'm not in, but might be soon.. I'm in some different pairs. I'm kind of hoping it will get some bulls from somewhere, but put it this way I'm glad I'm not long!
This could easily drop 100 pips from here!!! Come on cable fight!!
Don't trade what you think. Just what you see!!!
  • #677,343
  • Aug 22, 2022 3:20am Aug 22, 2022 3:20am
I sincerely don't think this is a short yet. I mentioned that London would want a stab at 1805 low set by Asia. I usually expect a breach of it, which has happened. Now price should go test daily pivot at 1858. Asia bought it and in most cases it will continue up. I will wait to sell. These are all support areas until 1760. Wait for the proper short!
  • #677,344
  • Aug 22, 2022 3:25am Aug 22, 2022 3:25am
...Dly S1 circa 1769 comes thru this prev 1hr/4hr/dly/wkly sw lo zone down to 1759 = prev supp = pot supp, as does the asc t/line on wkly that joins 1410 with said 1759.
Trader with an Edge.
  • #677,345
  • Aug 22, 2022 3:28am Aug 22, 2022 3:28am
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yes yes yes
  • #677,346
  • Aug 22, 2022 3:29am Aug 22, 2022 3:29am
I agree with 1850 being a decent buy target. This range doesn't have a top edge yet, and if it's going to trap volume up top for an increased drop it's going to have to pull back and wind up for the US session.
Having said that, if price decides to climb back above 1.1930 we could be in for a change of direction, given the abuse of lower lows.
I can't see it though, but you can never rule things like this out.
  • #677,347
  • Aug 22, 2022 3:34am Aug 22, 2022 3:34am
Quoting Mitiblotch
I sincerely don't think this is a short yet. I mentioned that London would want a stab at 1805 low set by Asia. I usually expect a breach of it, which has happened. Now price should go test daily pivot at 1858. Asia bought it and in most cases it will continue up. I will wait to sell. These are all support areas until 1760. Wait for the proper short!
anything can happen in crazy mode as market not following the standard pa , anyway 1781 may fakeout for 1857 if possible with signal now 1801 , present m30 candle may do 1810 test , and without 1759 if
Attached Image(s) (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #677,348
  • Aug 22, 2022 3:38am Aug 22, 2022 3:38am
Quoting Mitiblotch
I sincerely don't think this is a short yet. I mentioned that London would want a stab at 1805 low set by Asia. I usually expect a breach of it, which has happened. Now price should go test daily pivot at 1858. Asia bought it and in most cases it will continue up. I will wait to sell. These are all support areas until 1760. Wait for the proper short!
As envisaged my lord, i was expecting to have a valid short, the price touched lower key level 3 times but unable to close below it, so no Short yet.
A rejection off here can potentially lead to upside move, who knows the market is thinking of giving me a better entry point?

A rejection off daily pivot (daily upper key level is nearby too), gives godlike confidence to Short.
We'll see if we get it.

No position entered yet.
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  • #677,349
  • Aug 22, 2022 3:40am Aug 22, 2022 3:40am
Quoting EvilEye
I agree with 1850 being a decent buy target. This range doesn't have a top edge yet, and if it's going to trap volume up top for an increased drop it's going to have to pull back and wind up for the US session. Having said that, if price decides to climb back above 1.1930 we could be in for a change of direction, given the abuse of lower lows. I can't see it though, but you can never rule things like this out.

if we surpass 11930 I won’t take a hit and close early I’ll have a trailing loss until (if we get there) 120-12050. Having said that
1 that is wishful thinking
2 if we do see 120 areas again it would leave the pair in a limbo area for direction as the overall consensus is weak pound strong USD
3 120-12050 would make a 300 pip upward travel which unless there is bad US data won’t happen as the UK is in shits creak without a paddle
Insane in the Brain..
  • #677,350
  • Aug 22, 2022 3:49am Aug 22, 2022 3:49am
Okay. I think I like this movement. Long in at 1795. TP 1880. I may close partial at 1860. I am waiting to go short at the right place using my fibs as a guide.
  • #677,351
  • Aug 22, 2022 3:52am Aug 22, 2022 3:52am
...challenging 2nd potential upside obstacle now....1st upside fib 1851/2.
5min bearish hidden div is present now and may stay a valid repeating pattern below 1827.

1hr below
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Trader with an Edge.
  • #677,352
  • Aug 22, 2022 3:55am Aug 22, 2022 3:55am
little deformed but may a baby camel is about to born! shoulder then may 1857, head / ears may spike to 1894 to 1924 to raise the mouth up , ok need for little strong girdle need at 1835!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 14 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #677,353
  • Aug 22, 2022 3:59am Aug 22, 2022 3:59am
...it was an easy hi-prob buy on the 30min pinbar close with the reg bullish div @ the pot supp zone...cheaper entry on the 5min before it.
1hr bullish engulf close now.
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Trader with an Edge.
  • #677,354
  • Aug 22, 2022 4:12am Aug 22, 2022 4:12am
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yes yes yes
  • #677,355
  • Aug 22, 2022 4:22am Aug 22, 2022 4:22am
So where is Gbpusd heading? Any ideas and why? What is the trend?
  • #677,356
  • Aug 22, 2022 4:30am Aug 22, 2022 4:30am
Quoting Houtbay
So where is Gbpusd heading? Any ideas and why? What is the trend?
Dont know, dont care.
One thing i learnt is that i dont try to predict directions anymore, leave it to the system/tool that you used to tell you what to do, then act on it.
If the system is working fine, in the long term money will follow anyway.
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  • #677,357
  • Aug 22, 2022 4:34am Aug 22, 2022 4:34am
Seems to be a lot resistance/noise going up..
Insane in the Brain..
  • #677,358
  • Aug 22, 2022 4:40am Aug 22, 2022 4:40am
Quoting Headland
...challenging 2nd potential upside obstacle now....1st upside fib 1851/2. 5min bearish hidden div is present now and may stay a valid repeating pattern below 1827. 1hr below {image}
5min bearish hidden div did kick in. Scalpy session so far.

5min below
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Trader with an Edge.
  • #677,359
  • Aug 22, 2022 4:41am Aug 22, 2022 4:41am
Quoting Houtbay
So where is Gbpusd heading? Any ideas and why? What is the trend?
Trend is down heading for 1477 next couple of weeks...don't get trapped on top
average dude treading water
  • #677,360
  • Aug 22, 2022 4:42am Aug 22, 2022 4:42am
1730/60 area to buy
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