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Cable Update (GBPUSD)

  • #718,121
  • Jan 5, 2023 6:29am Jan 5, 2023 6:29am
no clear direction. i am waiting
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  • #718,122
  • Jan 5, 2023 6:30am Jan 5, 2023 6:30am
... a HL now on 30min. Price repelled at 1st attempt on the immediate prev 1hr sw hi zone ( the 2nd LH on that t/f, ) = prev res = pot res, in that prev 1hr/4hr sw lo zone that extends to circa 2054, = prev supp = pot sbr, that has proved so troublesome to bulls' recovery attempts so far today, off and following the drop to current dly lo.

1hr below
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Trader with an Edge.
  • #718,123
  • Jan 5, 2023 6:36am Jan 5, 2023 6:36am
Quoting mrluckystar
{quote} Mr Lee otw... H4 uj {image}
I agree. I think he's just pulling up into the parking bay area
Let's see how his first day in the office for 2023 feels like

Cheers
  • #718,124
  • Jan 5, 2023 6:42am Jan 5, 2023 6:42am
Range bound usdx
H1 long wick at R.

Maybe tomorrow nfp will decide...
Bad unemployment data will shake the market
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Peace Yo!
  • #718,125
  • Jan 5, 2023 6:42am Jan 5, 2023 6:42am
First week of the February is going to be interesting. Interest rates (both Fed and BoE) and NFP again.
  • #718,126
  • Jan 5, 2023 6:44am Jan 5, 2023 6:44am
I think if ADP really mattered, we would already have some action going on, but we have nothing. Banks aren't even pushing the price in one direction to catch traders.. nothing..

ADP is known to produce a big difference in what is forecasted and what is going to be actual however. So, this might happen, but not overly optimistic.
  • #718,127
  • Jan 5, 2023 6:45am Jan 5, 2023 6:45am
Quoting mrluckystar
Range bound usdx H1 long wick at R. Maybe tomorrow nfp will decide... Bad unemployment data will shake the market {image} {image}
Not very likely, you are looking at December holiday shopping data.
  • #718,128
  • Jan 5, 2023 6:52am Jan 5, 2023 6:52am
Quoting Abeeha
no clear direction. i am waiting {image}
with the way PA behaving, it should test s1 support today.

I might risk buying from there.
Intraday only.
  • #718,129
  • Jan 5, 2023 6:53am Jan 5, 2023 6:53am
Former Federal Reserve Chairman Alan Greenspan believes a US recession is the “most likely outcome” of the Fed’s aggressive rate hike regime meant to curb inflation. He joins a growing chorus of economists predicting imminent economic downturn. His views are particularly important. Not only did Greenspan serve five terms as Fed chair under four different presidents between 1987 and 2006, but he was the last chair to successfully navigate a soft landing, in 1994.

If US recession is likely, then recession in other countries in inevitable, just saying..
  • #718,130
  • Jan 5, 2023 6:54am Jan 5, 2023 6:54am
And today has been one of the easiest day to trade... sell every pull back in 1 min chart.
Intraday only.
  • #718,131
  • Jan 5, 2023 6:55am Jan 5, 2023 6:55am
Quoting FulMargnAlch
Hoping that the minor structure will hold, if not, I criii. {image}
Hoping to break a little more below from this flimsy structure, otherwise BE.
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The market hides a perfect geometry.
  • #718,132
  • Jan 5, 2023 6:55am Jan 5, 2023 6:55am
Quoting navk
{quote} with the way PA behaving, it should test s1 support today. I might risk buying from there.
yes i am also waiting 1.1980 area to be tested so i plan a buy from there if i saw buying momentum
  • #718,133
  • Jan 5, 2023 6:57am Jan 5, 2023 6:57am
Finally some action, not much but enough to convince me USD is going to be weak on ADP release.
  • #718,134
  • Jan 5, 2023 6:57am Jan 5, 2023 6:57am
Quoting navk
{quote} with the way PA behaving, it should test s1 support today. I might risk buying from there.
There are enough people talking about buying at the S1 that it will probably result in MM's driving the price lower!
  • #718,135
  • Jan 5, 2023 6:57am Jan 5, 2023 6:57am
Accidentally opened 1 lot on 400 USD acc... xD Wish I holded longer.

SF
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  • #718,136
  • Jan 5, 2023 7:05am Jan 5, 2023 7:05am
Messy Sells +$71 (+0.35%) , b4 ADP Non-Farms. Could have managed the trades better.

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All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 18.2%
  • #718,137
  • Jan 5, 2023 7:06am Jan 5, 2023 7:06am
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My telegram: https://t.me/avidforex
  • #718,138
  • Jan 5, 2023 7:06am Jan 5, 2023 7:06am
30 pip drop in a few mins then a rejection at 12000 … something fishy going on
Insane in the Brain..
  • #718,139
  • Jan 5, 2023 7:10am Jan 5, 2023 7:10am
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yes yes yes
  • #718,140
  • Jan 5, 2023 7:13am Jan 5, 2023 7:13am
Quoting BeeTogether
30 pip drop in a few mins then a rejection at 12000 … something fishy going on
The pin-point precision measurement of the bounce

Not the first time today too

Fishy indeed
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