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Cable Update (GBPUSD)

  • #727,581
  • Feb 9, 2023 5:28am Feb 9, 2023 5:28am
As you can see GBPUSD is coming down to retest broken mean term resistance on getting to the Monthly SBR and as such the movement on GBPCAD is slowed even when the level on GBPCAD is very very weak... GBPCAD will have to wait/range or also return for retest...

These are pairs correlation, it works! but time consuming..
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  • #727,582
  • Feb 9, 2023 5:40am Feb 9, 2023 5:40am
Quoting palpite
And now let's see if it's a fake breakout. {image}
Looks like a logical breakout to me. Look left. You can see there was a significant up bar right after the big spike down, and price has gone back up to that area. So price has already penetrated into that big down gap bar. Look a bit further left and higher at that small low zone where there was consolidation before two signifcant up bars. Doesn't that gap zone logically look like an area to move up into to collect the buy liquidity but not likely continue higher? So really, what is fake about that??
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  • #727,583
  • Feb 9, 2023 5:51am Feb 9, 2023 5:51am
...bulls trying to buy the pullback from current dly hi, @ the prev 30min sw hi zone/23.6% fib.

1hr below
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  • #727,584
  • Feb 9, 2023 6:03am Feb 9, 2023 6:03am
long again. I didn't lower it any other way, but what about now?

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  • #727,585
  • Feb 9, 2023 6:06am Feb 9, 2023 6:06am
My chart show overbought. Sold 1.2155 SL 1.2190
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #727,586
  • Feb 9, 2023 6:08am Feb 9, 2023 6:08am
Short for 10 pips stoploss high of the day
  • #727,587
  • Feb 9, 2023 6:08am Feb 9, 2023 6:08am
...so could still see supply emerge initially up to 2186 for the reasons outlined in my prev posts, even if price breaks above 2159 current dly hi. Dly R3 @/around 2187, inbetween wkly and mthly pivot, @/around 2173 and 2202 respectively.

How strong are the bulls today? Are they up for a > 30day adr day?

1hr below
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  • #727,588
  • Feb 9, 2023 6:20am Feb 9, 2023 6:20am
Gbpcad so far pretty close onto target 90 pips review the chart
  • #727,589
  • Feb 9, 2023 6:25am Feb 9, 2023 6:25am
Quoting Headland
...so could still see supply emerge initially up to 2186 for the reasons outlined in my prev posts, even if price breaks above 2159 current dly hi. Dly R3 @/around 2187, inbetween wkly and mthly pivot, @/around 2173 and 2202 respectively. How strong are the bulls today? Are they up for a > 30day adr day? 1hr below {image}
Headland...
Thanks for the tips
Waiting to scalp short

Strong bull, need some air to breathe.
Maybe in 30 mins for bull to run out of air.....
I come from the future.
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  • #727,590
  • Feb 9, 2023 6:25am Feb 9, 2023 6:25am
...when you look above current dly hi on 4hr and above said 2186, you can see another ' flip zone ' on that t/f. Could be interesting if challenged in near future.

4hr below
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  • #727,591
  • Feb 9, 2023 6:33am Feb 9, 2023 6:33am
Expecting a short set up in New York
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Read the chart... Fundies are catalyst...
  • #727,592
  • Feb 9, 2023 6:33am Feb 9, 2023 6:33am
Chicken heart is an early profit.

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  • #727,593
  • Feb 9, 2023 6:33am Feb 9, 2023 6:33am
1.21610 is adr high
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yes yes yes
  • #727,594
  • Feb 9, 2023 6:36am Feb 9, 2023 6:36am
Quoting Headland
...when you look above current dly hi on 4hr and above said 2186, you can see another ' flip zone ' on that t/f. Could be interesting if challenged in near future. 4hr below {image}
* I'm guessing there are some retail short position stops above Fri hi, (last red circled on my 4hr chart,)...ie in that prev flip zone.

* Currently price challenging current dly hi.
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  • #727,595
  • Feb 9, 2023 6:36am Feb 9, 2023 6:36am
Quoting DrDave
{quote} Looks like a logical breakout to me. Look left. You can see there was a significant up bar right after the big spike down, and price has gone back up to that area. So price has already penetrated into that big down gap bar. Look a bit further left and higher at that small low zone where there was consolidation before two signifcant up bars. Doesn't that gap zone logically look like an area to move up into to collect the buy liquidity but not likely continue higher? So really, what is fake about that??
let's see what will happen with 2158, I'm open to all directions before and after us report
  • #727,596
  • Feb 9, 2023 6:39am Feb 9, 2023 6:39am
Just loaded my third entry
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I'm enjoying the wins because I was once terrified by loses
  • #727,597
  • Feb 9, 2023 6:42am Feb 9, 2023 6:42am
Quoting Erto
Just loaded my third entry {image}
Hi, Brave to buy @ a hi instead of a lo? Hoping for a buy hi-sell higher scenario,? (as opposed to buy lo-sell hi. G/L with it.
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  • #727,598
  • Feb 9, 2023 6:44am Feb 9, 2023 6:44am
Fib supports the set up
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Read the chart... Fundies are catalyst...
  • #727,599
  • Feb 9, 2023 6:44am Feb 9, 2023 6:44am
Quoting Pat Chiko
{quote} Headland... Thanks for the tips Waiting to scalp short Strong bull, need some air to breathe. Maybe in 30 mins for bull to run out of air.....
GU

Not comfortable with this trade. Bit trick for SL.
Trade base on FL rejection level.
N3 taken AFTER, the rejection.
Maybe got luck for this long to SRF zone for TP.
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  • #727,600
  • Feb 9, 2023 6:49am Feb 9, 2023 6:49am
Quoting Pat Chiko
{quote} GU Not comfortable with this trade. Bit trick for SL. Trade base on FL rejection level. N3 taken AFTER, the rejection. Maybe got luck for this long to SRF zone for TP.{image}
Yeh, there was an earlier entry @ that potential flip zone - ie the prev 30min minor sw hi zone, based on the 5min bullish hidden div play. Then the 30min closed as a bullish piercing pattern then 1hr pinbar. G/L with that target.

Price deeper into this prev 1hr/4hr sw lo zone @ currenht dly hi now = prev supp = pot sbr.

5min below
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