Cable Update (GBPUSD)

Where can we even listen to gov bailey speech?

https://letmegooglethat.com/?q=Boe+w...+bailey+speech

i thought it was Fed Powell speech not BoE Bailey at 2pm GMT

GU

range bound trading until Thurs CPI.
MM is on "accumulation mode" now, trying to push price into certain direction to fill their books( liquidity).

FYI, "MM" is also a BUYER and SELLER in this market set up.
It's messy trading in range.......... This is me during trading......

It won't be Powell at 2 PM GMT !

zooming out a bit I think we'll go into this space after JPs speech before correcting

I expected the present H1 candle to reject 1.21746 before it closes. The market is slow today.

...last 1hr close (just closed) was bearish, last 4hr close (1hr ago) on gmt+2 price feed was bullish.

1hr/4hr below

I already did it's not like making a post on forex factory was my first goto -_-

Went to many websites including bankofengland. If you can find it, be a good chap and share it. However I am doubtful of your superior googling skills.

I can’t wait to get to the stage where I’ll place a trade only check the trade at the end of the each sessions. Which means I only get to look at the chart 3 times daily.

Staying glue to the chart is draining.

No.
A "Fair Value Gap" happens after the market breaks structure forming a Displacement Level.
The gap between the Displacement and the Structure High/Low gets hammered by algorythms and usualy stays unfilled if it's followed by a Volume Imbalance.
However, this "Fair Value Gap", if it is not too old, is called "Value Gap" because it usualy holds a load of "leftover" orders in only one direction.
BUT: it can work both ways when it gets filled, it's a very interesting price level.

A "Volume Gap" is an Imbalance in Orderflow.
(For the nitpickers, YES this is TECHNICLY NOT CORRECT but please try to explain it any better, english is not my native language)
Price moves away in only one direction on high volme, leaving behind an imbalance in orders. A "Void" with no (or not enough) orders in it.
(Forex)Markets are not allowed to sustain these imbalances and always seek to rebalance them.
That's natural market mechanic. (in theorie, because we trade Forex markets it's all a bit different, there's enough there to fill us Retailers near price at all times)

Now here is the catch:
You are trading a currencie vs another currencie.
Ask yourself the question: who owns the currencies that you are trading? (the central banks)
And: what does a currencie do for the economie and the wellbeing of countries?
So: do you put the economie and the wellbeing of multiple countries into the hands of "buyers and sellers" in a "fair market environment"? Seriously?

Interbank Price Delivery Algorythm
What do you see happeneing and repeating itself every day/week/month/year, around certain times and and pre-events.
"Red Flag" events: price compresses slowly towards a certain level and stays there. (IPDA holds price building Liquidity on both sides).
Central Banks get the numbers, then the "big 10", then you. By the time you get "the news" you are already dead, IPDA took out both sides of Liquidity and is now allowed to move price in the predeterminded direction.
Nothing is random. There is no such thing like "Buyers & Sellers", "Supply & Demand", "Support & Resistance" in currency markets.
It's algorythimic, you are working in a 100% controlled environment (controled by central banks) and everything else is smoke & mirrors.
There is only time and price and IPDA only knows three stages:
- price higher
- price lower
- hold price
And there is only one thing these people NEVER do: lose

so how about removing all the crap from the charts and watch price behave around certain times?
When you see it you can follow it and the only question remains is "are we running Buyside or Sellside Liquidity?", on every timeframe throughout the day/week/month/year...

Hint: put yout orders where you'd usualy put your Stops
I'll probably get a lot of hate for this (and I don't care) but yes ICT is spot on

Have fun

That's why you never should buy on high and vice versa. Also the reason why I hate to trade breakouts. However sentiment still bearish. Go GBP go!


SF

If you are using moving averages to assist with your trading, consider using the DEMA and EMA 9 period as an entry, continuation or exit signal for trades.
Another twist is to use an 'envelope' that is made up of the high, close and open prices from the 9-period VWMA instead of the EMA.
Results for me so far have been pretty good.

Unless something changes, I don't see your 1.2248 target getting hit before H1 makes a return down swing.

Long here @1.2161, targeting 1.2235
though it can go all the way to 1.2285

...it's a crowded 1hr chart as price follows thru to downside off last 1hr dark cloud cover close now challenging a prev minor 30min sw lo zone = prev supp = pot supp, after 1hr asc t/line braeched to downside.

1hr below

I sit corrected. He usually speaks at 2pm EST.

Its still possible 1.21580 is a very strong weekly LQ level. I have a wider view. Monthly and weekly.

Hi Dantpm..

I called many bigger traders to find an answer, its the same from every institutional trader I contacted:
"GBP/USD buyers today got stuck in traffic".