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Cable Update (GBPUSD)

  • #736,561
  • Mar 16, 2023 10:59am Mar 16, 2023 10:59am
Quoting pipfarm
We have it break of 2113 confirms bull continuation
are you sure?
  • #736,562
  • Mar 16, 2023 10:59am Mar 16, 2023 10:59am
Attached Image (click to enlarge)
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yes yes yes
  • #736,563
  • Mar 16, 2023 11:00am Mar 16, 2023 11:00am
Quoting Moty
{image}
personally I could do the with the arrow up
Insane in the Brain..
  • #736,564
  • Mar 16, 2023 11:01am Mar 16, 2023 11:01am
Quoting Whale
{quote} are you sure?
There is never anything sure in this business but that is how i see it
Follow The Markets Structure - Patience and Discipline
  • #736,565
  • Mar 16, 2023 11:01am Mar 16, 2023 11:01am
dxy is looking very bearish on H1..
will wait for it to hit 104.15 to have a clear bias for cable.
tts scaring me, so done for the day.
  • #736,566
  • Mar 16, 2023 11:02am Mar 16, 2023 11:02am
Quoting BeeTogether
Graveyard shift I suppose… let’s see if 121 or above is possible for a close. Unlike the s yesterday the Bears have done well today kept any upturns down to a limit around 121.
How your longs? Better? Still holding?
People don't plan to lose. They lose because they don't plan.
  • #736,567
  • Mar 16, 2023 11:02am Mar 16, 2023 11:02am
Perfect GU bounced from the levels and exited my longs. Now wait for next setup.
Quoting anandy1
DXY should revert form this line. Expecting GU bounce. {image}
  • #736,568
  • Mar 16, 2023 11:06am Mar 16, 2023 11:06am
Quoting pipfarm
{quote} There is never anything sure in this business but that is how i see it
Thank, i know.

but, why this is a bull confirmation?
Theoretically this is not a real HH
  • #736,569
  • Mar 16, 2023 11:08am Mar 16, 2023 11:08am
Quoting ScalaFX
{quote} How your longs? Better? Still holding?
yeah still holding on now only 80 odd pips short of b/e 🤣🤣
Insane in the Brain..
  • #736,570
  • Mar 16, 2023 11:10am Mar 16, 2023 11:10am
Quoting BeeTogether
{quote} yeah still holding on now only 80 odd pips short of b/e 🤣🤣
Good! Still more to come I think but not today😉
People don't plan to lose. They lose because they don't plan.
  • #736,571
  • Mar 16, 2023 11:12am Mar 16, 2023 11:12am
to complete daily range, the price has to go up

Shorting at this time is not correct.

Better stay away.
Intraday only.
  • #736,572
  • Mar 16, 2023 11:15am Mar 16, 2023 11:15am
Quoting navk
to complete daily range, the price has to go up Shorting at this time is not correct. Better stay away.
ya ive been smashed like a pingpong for looking short
but it goes wrong
  • #736,573
  • Mar 16, 2023 11:16am Mar 16, 2023 11:16am
Quoting ScalaFX
{quote} Good! Still more to come I think but not today😉
I think so.. the way I look at it the drop yesterday was quite severe and not entirely the GBP at fault. The sleeping Euro collapsed and took GBP with it. However on the balance of things the UK economy is doing ok, not falling into a recession (well not yet) and the issues around the US banks may mean the rates don’t rise by 0.5!if at all. Will hold onto the long’s tomorrow as there is some data that can move. Next week is crucial where we can see either 125 or 118 and I’d like to be in a position by then to at least make a trade on it.
Insane in the Brain..
  • #736,574
  • Mar 16, 2023 11:19am Mar 16, 2023 11:19am
Quoting Whale
{quote} Thank, i know. but, why this is a bull confirmation? Theoretically this is not a real HH
Why not, H4 made HH,HLs then LHs,LLs then the outside bar taking the whole range out to the upside
Follow The Markets Structure - Patience and Discipline
  • #736,575
  • Mar 16, 2023 11:20am Mar 16, 2023 11:20am
Yes, after booking loss, I decided to stay away.

This is rare to happen for me though.

But the price was too much choppy today.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2023-03-16 214909.png Size: 54 KB
Intraday only.
  • #736,576
  • Mar 16, 2023 11:24am Mar 16, 2023 11:24am
Exactly. GU data is pretty good. Plus banking failures will push fed to soften its stand. Plus swiss support and some positive banking sentiment pushed the market up. Lets do not forget that yesterday and today's USA data is pretty bad. Finally, fundamentals will dictate the price movement.
Quoting BeeTogether
{quote} I think so.. the way I look at it the drop yesterday was quite severe and not entirely the GBP at fault. The sleeping Euro collapsed and took GBP with it. However on the balance of things the UK economy is doing ok, not falling into a recession (well not yet) and the issues around the US banks may mean the rates don’t rise by 0.5!if at all. Will hold onto the long’s tomorrow as there is some data that can move. Next week is crucial where we can see either 125 or 118 and I’d like to be in a position by then to at least make a trade on it....
  • #736,577
  • Mar 16, 2023 11:26am Mar 16, 2023 11:26am
Quoting Georginson
{quote} Eyes on 1.1980... Weekly range so far is 170 pips, while I'm expecting 220 - 300 pips... Simulations 1.2010 + 220 = 1.2230 1.2203 - 220 = 1.1980
A close above 1.2100 exposes 1.2230 tomorrow... Waiting to see today's close in order to react accordingly...
Data + Stat + Risk/Emotions Management
  • #736,578
  • Mar 16, 2023 11:28am Mar 16, 2023 11:28am
Quoting pipfarm
{quote} Why not, H4 made HH,HLs then LHs,LLs then the outside bar taking the whole range out to the upside
When i say range i mean the range of the 4H LHs,LLs, obviously the whole range itself is the top of the 4H down swing but i am not trading breakouts
Follow The Markets Structure - Patience and Discipline
  • #736,579
  • Mar 16, 2023 11:29am Mar 16, 2023 11:29am
Attached Image (click to enlarge)
Click to Enlarge Name: trade.png Size: 4 KB


In my opinion shorts are invalidated. I would've liked to see a rejection of that yellow area. 4hr candle is incredibly bullish. Will look for long entry tomorrow since my shorts all got wiped today.
  • #736,580
  • Mar 16, 2023 11:39am Mar 16, 2023 11:39am
Quoting Haydel
Shorted at 1.2096. Moved SL to BE. TP 1.1955 {image}
Stopped out at BE.
Attached Image (click to enlarge)
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