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Cable Update (GBPUSD)

  • #706,401
  • Nov 11, 2022 3:57am Nov 11, 2022 3:57am
Quoting Headland
{quote} what do you think is the '...very strong resistance...' at 1770?
Hello Headland,

1.1770 is a strong daily resistance today only cause the GU overbought technically and price is exhausted in addition to the profit taking process which can push down the pair .

Dont forget that US banks are closed today and liquidity wouldn't be so strong to build momentum for further buying to break 1.1770 we need a combination of a powerful liquidity along with upside momentum.

According to my humble analysis the GU will resume buying again next week and 1.1770 will be cleared as long term (MONTHLY TECHNICAL STUDIES) shows a strong buying power .

Always trade with a proper risk management strategy regardless of how your strategy or analysis is strong..

Thanks
I always knew that someday I would make it big
  • #706,402
  • Nov 11, 2022 3:59am Nov 11, 2022 3:59am
Quoting forexer
{quote} Hello Headland, 1.1770 is a strong daily resistance today only cause the GU overbought technically and price is exhausted in addition to the profit taking process which can push down the pair . Dont forget that US banks are closed today and liquidity wouldn't be so strong to build momentum for further buying to break 1.1770 we need a combination of a powerful liquidity along with upside momentum. According to my humble analysis the GU will resume buying again next week and 1.1770 will be cleared as long term (MONTHLY TECHNICAL STUDIES) shows...
Thank you for your reply.
Trader with an Edge.
  • #706,403
  • Nov 11, 2022 4:03am Nov 11, 2022 4:03am
Quoting Chris_35
{quote} I went long on the 08:45 and T/P +25 pips
nice one bud.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #706,404
  • Nov 11, 2022 4:03am Nov 11, 2022 4:03am
Quoting bilal1947
{quote} Sell closed - Bought here its daily open lets see {image}
Super decision to buy its +52pips - bag some profit here.
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"Exchange of hands"
  • #706,405
  • Nov 11, 2022 4:05am Nov 11, 2022 4:05am
Shake the boat..
  • #706,406
  • Nov 11, 2022 4:06am Nov 11, 2022 4:06am
again you go up
i told you
you shell not pass 1.17611 mf
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yes yes yes
  • #706,407
  • Nov 11, 2022 4:06am Nov 11, 2022 4:06am
Quoting Headland
{quote} I'll try again, - I have wkly R1 and a 61.8% fib 2666-0327 move @ the current dly hi, what do you think is what you call 'very strong resistance' @ 1770? thanks.
Hello

It's not a call to sell as I haven't sold the pair yet.

I mean 1.1770 is valid and strong for today only , I don't think there is up momentum to go through beyond the 1.1770 , maybe it could be broken next week as i see MONTHLY up momentum it's my personal analysis, I could be wrong, so stick with your strategy my friend .

Thanks
I always knew that someday I would make it big
  • #706,408
  • Nov 11, 2022 4:06am Nov 11, 2022 4:06am
Quoting griffc
Seeing everyone talk short makes me nervous, I went long on 15m @ 1.1730. I'll follow my learning logic tho, it will either be right or wrong {image}
jumped out at +30. Baby steps but probably my first ever limit trade entry. I'm happy that that.
always learning
  • #706,409
  • Nov 11, 2022 4:06am Nov 11, 2022 4:06am
90+ pips
and come back lil down... i think need to close it
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!! Radha Radha !!
  • #706,410
  • Nov 11, 2022 4:06am Nov 11, 2022 4:06am
Internet data feed has gone intermittent! (Not a happy camper!)
  • #706,411
  • Nov 11, 2022 4:10am Nov 11, 2022 4:10am
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JY - BP - E. 5' --- JY is approaching support at 139.40 soon... BP and E. are very close to significant crests soon , too .

  • #706,412
  • Nov 11, 2022 4:11am Nov 11, 2022 4:11am
Quoting nishantforex
{quote} Closing above 100 DMA Ready for new BUY from Monday ... {image}

Around 500 Pips up for grab

from shaded area go BUY and wait for 7-10 days
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  • #706,413
  • Nov 11, 2022 4:11am Nov 11, 2022 4:11am
Since beginning of the day, all highs are being met with sellers

i wouldn't chase this move higher and buy
i prefer the sell side here from 11760
COT: The precious data ignored
  • #706,414
  • Nov 11, 2022 4:11am Nov 11, 2022 4:11am
GU short for 18 pips
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"Exchange of hands"
  • #706,415
  • Nov 11, 2022 4:12am Nov 11, 2022 4:12am
eu and goldi joined the weekly r3 club
enough is enough
dropppppppppppppppppppp!
yes yes yes
  • #706,416
  • Nov 11, 2022 4:14am Nov 11, 2022 4:14am
just a reminder:

... above current dly hi a prev minor 4hr sw lo zone that extends 1775-1793 = prev supp = pot sbr, but it is a v. minor prev swing. There's an upside fib circa 1813, then Wkly R2 is @ 1845 as is Dly R1, and then a prev 4hr/minor dly sw hi zone the 4hr part of which runs 1857-1901, = prev res = pot res.
Trader with an Edge.
  • #706,417
  • Nov 11, 2022 4:14am Nov 11, 2022 4:14am
Quoting Moty
again you go up i told you you shell not pass 1.17611 mf {image}
1.17822
  • #706,418
  • Nov 11, 2022 4:15am Nov 11, 2022 4:15am
i'm again going against my indicator
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yes yes yes
  • #706,419
  • Nov 11, 2022 4:21am Nov 11, 2022 4:21am
Quoting Whale
{quote} 1.17822
1.17570
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yes yes yes
  • #706,420
  • Nov 11, 2022 4:21am Nov 11, 2022 4:21am
I'm targeting 1.1580

Ambitious and not expecting it today, but given the last day or so, anything seems possible.
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