Cable Update (GBPUSD)

add buy - 1.2107

stop loss - 1.2080

Done for the day

“What I do have are a very particular set of skills, skills that I have acquired over a very long career……”

Long

Big orders are removed from ~1.2270 level. They were there for years, until covid came and orders are removed from that level in 2020. Once again they were valid post corona, and once again they are removed due to the war and Fed's hiking cycle. These were all Buy orders which are now gone.. hence why price doesn't have a momentum at these levels anymore. These orders are gone. Where they are now, is a the real question..

Noone thinks like: yeah, I think Pound at 1.24 is a really good price to Short from..

Rather: look, this is where big banks have their orders, fundies haven't changed at all, we will Short when price returns to this price after taking out all the SL's that are probably above 100-200 pips.

Of course, I may be wrong on this and this could be a total bullshit, but I believe in this..

What do you people think about this? Bullshit or it actually makes sense?

...strong bounce from bottom of that prev 1hr/4hr sw lo zone that extends down to 2085 re the 3 and 5min reg bullish div, and o/s 15/30min osc reads.....now challenging the pot res/sbr factors on 1hr with that t/f closing now with a bullish piercing pattern candle.

EDIT: Just a quick look at 30min/1hr - no reg bull div for me, but there is on 2hr and 4hr at the current dly lo, which is = to y/day's lo.

1hr below

The crooky mf are having fun they range between making a shoulder
or breaking the neck and range like mf and trap And the extreme

trades closed - 1.2132

update

...50% of the day's current main-move dop reached at current p/back hi

1hr below

As always.

Sentiment is sell + demand zone = buy

Let's see if the cross or not the pivot daily - 1.2154

Top of the day, folks,

It looks as though what brought GU down is about to take it right back up to the scrapers.
However, as soon as H1 breaks 1.216826, I will begin loading up on buys for keeps.
Until then, I'm increasing my NZDUSD trade starting today.

Take care, gang

maybe… the move up stalling at 12140 20 pips more we could see the 12180 area again.

Long 1.2139

mrluckystar, I keep an eye on HPs on smaller TF (5M) and use them to enter the trade but for the fourth day, I do range trading. Somehow I'm fixated on 1.2040 which is the minimum level for the second leg down.

i will get out with half the position in 8 mins before the data

no logic? To draw a 2-point line off candles without wicks to a potential candle with a wick cutting through other PA regardless.

I want to sell it now, if not cross de pivot daily.

That's a very good point!

I am changing my opinion on this! I don't believe in trend lines anymore.. rather flat levels only.

This point of view is just in development for me now. When I catch some free time, I'll investigate this in-depth.

TheWolf

sell - 1.2138

stop loss - 1.2170