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Cable Update (GBPUSD)

  • #717,621
  • Jan 4, 2023 1:06am Jan 4, 2023 1:06am
Price pushing through the S1 on USD/JPY on Hourly Chart at the moment..

Meanwhile, price on EUR/USD seems to have tested Support on H4 Chart and we had confirmation candle for going Long.

All in all, shorting USD seems to be the choice today with all of the information gathered.
  • #717,622
  • Jan 4, 2023 1:10am Jan 4, 2023 1:10am
Quoting BrainBucks
{quote} Aforementioned support zone didn't quite seem like it could put up much of a fight against the bears But now that you mention it, I'm watching intently. I too have my sights set on 1.2100
I thought so too. However, you know the saying: 'soup wey spend day break, na him dey sweet pass' lol..

The level was from yesterday, and after being able to sustain Asian session, I think it's a worthy level to pay attention to. Anyway, let's see how it goes.

Cheers
  • #717,623
  • Jan 4, 2023 1:15am Jan 4, 2023 1:15am
Out of sells at breakeven… will enter again at better price
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Extreme gut feeling trader
  • #717,624
  • Jan 4, 2023 1:20am Jan 4, 2023 1:20am
On Hourly Chart watch for 1.2030 level. It's either going to be another leg up or we will have the M Pattern and price returning to 1.1905.
  • #717,625
  • Jan 4, 2023 1:23am Jan 4, 2023 1:23am
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  • #717,626
  • Jan 4, 2023 1:24am Jan 4, 2023 1:24am
Quoting pipcenturion
{quote} Hi, please note that there is a new H4 VAP supply at 1.1992 This might make price bump a bit.
Let's watch 1.1985 (H1 VAP demand for the just completed hour). The market makers might like to spring a surprise spike to the upside from this level so as to grab liquidity and take out weak sellers.
  • #717,627
  • Jan 4, 2023 1:28am Jan 4, 2023 1:28am
usual movement from weekly s2 to weekly s1 and then a drop to weekly s3
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took long uj
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yes yes yes
  • #717,628
  • Jan 4, 2023 1:28am Jan 4, 2023 1:28am
Price retested R (former S) on USD/CHF Daily Chart. Yesterday R was established and now we are waiting for potential confirmation candle which is already forming.
  • #717,629
  • Jan 4, 2023 1:35am Jan 4, 2023 1:35am
GBPUSD LONG

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My telegram: https://t.me/avidforex
  • #717,630
  • Jan 4, 2023 1:37am Jan 4, 2023 1:37am
Quoting TheWolf
Price retested R (former S) on USD/CHF Daily Chart. Yesterday R was established and now we are waiting for potential confirmation candle which is already forming.
So far price is going in the right direction despite CPI data. Down!
  • #717,631
  • Jan 4, 2023 1:38am Jan 4, 2023 1:38am
1.2149
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #717,632
  • Jan 4, 2023 1:38am Jan 4, 2023 1:38am
Potentially big EU data in a few mins rusty could send cable down again especially after yesterdays data.
Insane in the Brain..
  • #717,633
  • Jan 4, 2023 1:40am Jan 4, 2023 1:40am
Quoting Yngwie
1.2149
similar to my area to go short from 12150-70
Insane in the Brain..
  • #717,634
  • Jan 4, 2023 1:40am Jan 4, 2023 1:40am
Quoting TheWolf
On Hourly Chart watch for 1.2030 level. It's either going to be another leg up or we will have the M Pattern and price returning to 1.1905.
Few more pips and price has reached 1.2030..
Let's see the reaction now..
  • #717,635
  • Jan 4, 2023 1:44am Jan 4, 2023 1:44am
USD tanking. Price falling pretty convincingly on USD/JPY.
Who said trading was hard? Yeah, it was me I guess haha..
  • #717,636
  • Jan 4, 2023 1:46am Jan 4, 2023 1:46am
First 15 min green candle on dxy … lets see how it ends…
Extreme gut feeling trader
  • #717,637
  • Jan 4, 2023 1:46am Jan 4, 2023 1:46am
Liquidity across 3 time frames D1 H4 and H1.

Just find liquidity and you’ll be successful as a trader.
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  • #717,638
  • Jan 4, 2023 1:48am Jan 4, 2023 1:48am
Quoting Robinhood1
{quote} Maybe a small correction is needed Correcting the correcter {image}
Just lucky

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POSTMASTER
  • #717,639
  • Jan 4, 2023 1:51am Jan 4, 2023 1:51am
Quoting montygoldy
First 15 min green candle on dxy … lets see how it ends…
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yes yes yes
  • #717,640
  • Jan 4, 2023 1:52am Jan 4, 2023 1:52am
Quoting BigNumbers
Liquidity across 3 time frames D1 H4 and H1. Just find liquidity and you’ll be successful as a trader. {image}
Correctly identifying where R and S zones are is crucial. Not messing this up is the most important thing. Then patience..

It's hard when you don't know what to look, not as hard when you know what to look for.

Takes time to learn it, but it's quite effective.
New traders lose money because they are trading too early or too late. Trading in the zone between R and S is always bad and isn't recommended. Also trading way above R or below S is also not good. You have to be patient and act when you need to act.
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