Cable Update (GBPUSD)

on the 4hr+ i mean, long term

opened Short position

Double Top - Second Top Lower than the First one

maybe for next week, it will be looking good the shorts

what you use here look like a overlay chart but is different. Could you pls advise what is the name of the indicator?

What he uses is his own private design.

But apparently it is a correlation indicator between currencies.

In the link below you will find a similar one.

https://www.forexfactory.com/thread/...7#post14199627

I am done for today, I have one standing buy position in EURUSD, the TP for which I have set at breakeven.

Hedging with short 11598 && 11610 && 11617

Audjpy long below 92.91

Cadjpy down to 105.60

What, what, what???
Holiday again???
Someone is living a dream!

Enjoy, you deserve it! Send some pictures, so we can at least dream about this paradise.

P. S, no, you can't leave FF, you are to important here.

Double top pattern confirmed for me .. waiting for COT report release to confirm what hedgefunds vision is ... For me it's a sell monday until now !

All forecasts will be achieved

Suite of my vision ...

Worming still . Is it going to drop at 32

You posted that request nearly 2 hours ago. But here is the 5m marked up.

The red line above the highs shows the clear lower top rather than a mere double top that the indicator in another screen capture showed. Therefore, the subsequent down swing is either just another pullback that will be followed by an up continuation, or it is the start of a down trend on this TF. If you accept the simplest definition of a down trend as a down swing, a rally that retraces less than 100 % of the down swing, then a continuation down swing, the behavior of that rally swing, indicated by the dashed green arrow, will tell you which path his been taken.

You can see the white line from the lower top over to the high of that rally swing CLEALY retraced more than 100%, so there is you answer.

And now that you see the up swing is just another continuation in the bigger uptrend, you can apply the same rules to that next 4-bar down swing, initially treating it as just another pullback. Then the 3-bar upswing ended as a lower top, confirming that this is a new down trend starting. But there are a number of things that these 3 swings of the down trend are telling you that it is likely to not progress very far before the next upswing kicks in. And because of this shallow penetration into the prior big up swing, together with these other factors, leads to a high probability that the next upswing will end as yet another higher high, continuing the larger up trend.

This analysis is viewing only the 5m and the emulator of the 10m (the pink/yellow indicator), so you don't have all of the information that viewing more TFs offers. But even without it, the message is loud and clear.

And as you can see, if you can't even keep the 5m in a down swing, it is IMPOSSIBLE for any of the TFs above it that are in up swings to be starting to reverse. All you will see on larger TFs is either some sideways ranging, or if the moves are weak, the price bouncing up and down on the open bar.

1 min

Usdjpy short tp 147