Cable Update (GBPUSD) | Page 35759 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #715,161
  • Dec 19, 2022 10:02am Dec 19, 2022 10:02am
Quoting BeeTogether
Wow look at that drop! What’s going on? Profiteering already?
I wasn't expecting such a drop, to be honest. At least not that fast. But I would be definitely in sell position if I wasn't watching a movie, haha. My bad. There was very big amount of people who was buying GBP/USD. Of course they will want to kick them out.

We can start buying now. Slowly.... Very slowly... Just scalp it. I see Coreg2004 asking if weekly low will hold... Well maybe? But will probably not. Why? More people buy on resistance, more dropping we will see.

SF
  • #715,162
  • Dec 19, 2022 10:02am Dec 19, 2022 10:02am
Quoting Coreg2004
{quote} pipsofacto, do you think the weekly low will hold? {image}
Probably not. Hard to say, we have had 4 straight up weeks followed by 2 red weeks, but no lower low. I am watching for a bounce from the low.
Tall tails tell tales.
  • #715,163
  • Dec 19, 2022 10:05am Dec 19, 2022 10:05am
Quoting BeeTogether
Wow look at that drop! What’s going on? Profiteering already?
It's just NORMAL cycling of TFs. The H4/H8 was in a RALLY of higher TF down trends. The cycling of the TFs below H4 simply brought the H4 rally to its end and the DOWN CONTINUATION kicked in with the confirmation of the m15 down.

What cannot be predicted is how "aggressive" the drop might be.
To free Gazans of Hamas, use whatever it takes.
  • #715,164
  • Dec 19, 2022 10:06am Dec 19, 2022 10:06am
Attached Image (click to enlarge)
Click to Enlarge Name: ff (2).png Size: 7 KB

Be Careful going long, price is showing to go down on daily chart....
  • #715,165
  • Dec 19, 2022 10:13am Dec 19, 2022 10:13am
Quoting Moty
this time the crooks have the upper hand {image}
You should have protected the Trade with SL at BE.
  • #715,166
  • Dec 19, 2022 10:15am Dec 19, 2022 10:15am
Quoting Indigo45
{image} Be Careful going long, price is showing to go down on daily chart....
in the other hand
dx maybe fold here after pull back to 104.500 area
Attached Image(s) (click to enlarge)
Click to Enlarge Name: sp.png Size: 11 KB
Click to Enlarge Name: gu.png Size: 10 KB
yes yes yes
  • #715,167
  • Dec 19, 2022 10:17am Dec 19, 2022 10:17am
EU algo at 1.0580 filled. Algo at 1.0805 or 1.1186 remains unfilled.
those who can, do. those who cant, talk about those who can
  • #715,168
  • Dec 19, 2022 10:23am Dec 19, 2022 10:23am
...back @ desk updating charts. That 4hr bearish engulfing saw a downside follow thru to the prev 1hr/4hr sw lo zone that extends down to last week's lo where buyers were encountered. This zone is coexistent with the prev 1hr/4hr/dly sw lo zone that extends down to 2105, = prev supp = pot supp.

Now testing a prev minor 1hr sw lo zone = prev supp = pot sbr.

1hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 80 KB
Trader with an Edge.
  • #715,169
  • Dec 19, 2022 10:26am Dec 19, 2022 10:26am
Quoting Moty
{quote} in the other hand dx maybe fold here after pull back to 104.500 area {image} {image}
I interpret this as you are indicating the similarities between the two consolidation boxes. However, the previous consolidation was after a push higher. This most recent box is consolidating after an aggressive move down.
  • #715,170
  • Dec 19, 2022 10:26am Dec 19, 2022 10:26am
Quoting fxsport
{quote} OR You could BUY USD..... Can you explain to me why you choose to sell DXY instead of buying? Convince me....please....
because I do a trend line bounce until the trend line is crossed. if the trend line is crossed, I will also reverse the position from sell to buy (gbpusd or eurusd), like today.
I just don't have time to list every change I make here...
Attached Image (click to enlarge)
Click to Enlarge Name: a.jpg Size: 585 KB
Trendlines H1,H4, SMC
  • #715,171
  • Dec 19, 2022 10:28am Dec 19, 2022 10:28am
Quoting pipsofacto
{quote} Probably not. Hard to say, we have had 4 straight up weeks followed by 2 red weeks, but no lower low. I am watching for a bounce from the low.
pipsofacto, the ABC correction on my chart was very weak and didn't even touch 38.2% ((@1.2245) retracement of the last move down. But with low holiday volume, they can jerk us around in range trading.
Always trade your own plan...I don't provide trading signals.
  • #715,172
  • Dec 19, 2022 10:29am Dec 19, 2022 10:29am
Quoting gatorinla
EU algo at 1.0580 filled. Algo at 1.0805 or 1.1186 remains unfilled.
Having you bless this thread with a post is something most of us may be taken lightly. Please, drop a post every now and again for us.
Happy Holidays
  • #715,173
  • Dec 19, 2022 10:35am Dec 19, 2022 10:35am
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 16 KB
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 19 KB
yes yes yes
  • #715,174
  • Dec 19, 2022 10:38am Dec 19, 2022 10:38am
Quoting Moty
{image}{image}
You're getting better Moty!
  • #715,175
  • Dec 19, 2022 10:44am Dec 19, 2022 10:44am

Quoting gatorinla
EU algo at 1.0580 filled. Algo at 1.0805 or 1.1186 remains unfilled.
  • #715,176
  • Dec 19, 2022 10:47am Dec 19, 2022 10:47am
Quoting JayBag
{quote} I am in. Let's see {image}
I am not going to lie, this was a bad entry. I broke my rule and entered a BO that happened before London. (NEVER ENTER A TRADE ON A BO BEFORE LONDON). I broke that rule and I paid by being underwater.

Moving forward, I have my eye on my initial entry at 1.218707. An M15 candle above this means one thing and one thing ONLY. SPIKE LEEEEEEEEE

Anyway, enough humor, now serious business.
Take care
  • #715,177
  • Dec 19, 2022 10:52am Dec 19, 2022 10:52am
Quoting Torzone
{quote} You're getting better Moty!
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 13 KB
yes yes yes
  • #715,178
  • Edited 11:53am Dec 19, 2022 10:55am | Edited 11:53am
Positions still NOT changed. We have sideways trend, buy on low, sell high. As always, take care.

SF
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 12 KB
  • #715,179
  • Dec 19, 2022 10:59am Dec 19, 2022 10:59am
...great bounce up from the 1hr/4hr pot supp zone, near to last wk's lo. First a reversal candle closing outside it's 20bol on 5min, then the 15min bullish engulf, then the 30min piercing pattern, and a likely 1hr engulfing in a few mins. Almost 61.8% of the day's fall given back @ the current pullback hi,.

1hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB
Trader with an Edge.
  • #715,180
  • Dec 19, 2022 11:40am Dec 19, 2022 11:40am
GBPUSD - H4

Personally, I am selling GBPUSD - and expecting the price to reach one of the Extension Levels down below.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 22 KB


On the other hand, if you examine the last candle in terms of volume, you can notice the "increased volume" and "narrow body of the candle" despite that much volume (Less volume in the previous candle crated a bigger candle body).

Attached Image (click to enlarge)
Click to Enlarge Name: hacim.PNG Size: 13 KB


Well, the candle is going to be completed in 20 minutes, and if this is how it is going to be completed, then I can say that (in my humble opinion), we are gonna go even deeper!!!

Best Regards
Imagination rules the world ...
Selym Hyll Return This Year: na
318 traders viewing now