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Cable Update - Continued 105 replies

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Cable Update (GBPUSD)

Long term, it seems like Cable may be bearish but short term probably a minor rally by the bulls to 1,2500 area. So I think price may first trade back into the range before the next significant move by the bears.

Let's see how the market behaves

Charts: D1, H4, H1
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSD H1 28-05-2023.png Size: 63 KB
Below 1.2396 is a certain invitation of 1.2250 this week. Medium term direction is pointing at 1.2180 this June.
Rejections spur me for greatness!!!
Hi guys, tomorrow seems like a slow day. What is your strategy for a slow day?
Market will open tomorrow or only on Tuesday?
The market has short memory
Quoting Georginson
Below 1.2396 is a certain invitation of 1.2250 this week. Medium term direction is pointing at 1.2180 this June.
same view
MY OPINION NOT FINANCIAL ADVISE
For me it seems the markets have been awaiting the Debt agreement and now maybe a short term bullish move on the SP500 is on the way next week. That means for asset cross correlation the USD should get weaker next week too. If SP500 is rising then short term also the US Dollar gets weaker, a very common correlation here.
GBPUSD price action on the H4 time frame is presently sideways. However, as the dominant trading range is bearish, we can expect bearish continuation, perhaps, after a shake out of weak hands.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
Quoting Whale
Market will open tomorrow or only on Tuesday?
Open on Monday but with a low volume because of the holidays.
Quoting mysterio
{quote} Just my view but, I don't believe all the hoo-ha over this issue, but, S&P500 is in a weekly supply area and very well positioned for a fall, I believe this will drive US equities down but the talking heads will blame it on the debt ceiling impasse. If we get a close above 4325 then bulls can relax a bit. Another thing is, inflation is still absolutely out of control. I think its inevitable that DXY will take out the weekly swing high at 105.882 also {image}
Yep, we already know what will happen, McCarthy will cave to 0'bidet.
But, the timing was "extended" by Yell'n to June 5 so it's likely this won't be resolved fully until then.

And, by now, we should all know that supply/demand will determine the move, not the news. I'm not saying the news won't create some market chaos, but am saying Supply/Demand wins. I agree, the talking heads will say whatever, but winning traders no longer pay attention to them because we've learned they're just marketing their master's spin; they don't matter.

have a great week of trading!
Quoting CashBox
{quote} Yep, we already know what will happen, McCarthy will cave to 0'bidet. But, the timing was "extended" by Yell'n to June 5 so it's likely this won't be resolved fully until then. And, by now, we should all know that supply/demand will determine the move, not the news. I'm not saying the news won't create some market chaos, but am saying Supply/Demand wins. I agree, the talking heads will say whatever, but winning traders no longer pay attention to them because we've learned they're just marketing their master's spin; they don't matter. have...
LOL.....how much cash do you have in the cashbox???????
Where the fuck is Tinny?
i am seeing some fucking bullish evidence in the 1.2330 zone....have to see how this hourly bar closes!!!
Quoting ForexGoose
went long at 1.236, stop under 1.23, target 1.245+ could be a fake bear on the 1 hour chart
waiting for the green dildo tonight since the debt deal excited the market already
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Quoting ForexGoose
{quote} waiting for the green dildo tonight since the debt deal excited the market already
i went long ...will take one of my positions off at 1 to 1 and let the rest run until i see some bearish evidence...trading off the hourly chart
Wanna see a retest of 1.232 - 1.233 area before going long.
Exhausted
  • Post #748,056
  • Quote
  • Edited May 29, 2023 12:25am May 28, 2023 11:58pm | Edited May 29, 2023 12:25am
Noticed gaps close /open getting refilled on 1 min... ? means nothin...
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"Do something once and it's an accident.Twice, a coincidence. If you do it a third time, then it's a natural law".
Quoting tradexyz
Noticed gaps close /open getting refilled on 1 min... ? means nothin... {image} "Do something once and it's an accident.Twice, a coincidence. If you do it a third time, then it's a natural law".
it means DICK all!!!
Quoting ninner
{quote} it means DICK all!!!
enough de lulalalalala lol ...
frikin languages freak me out.... da silva...
György Schwartz onto something with his esperanto...

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“Destroying America will be the culmination of my life’s work.” George Soros
Quoting tradexyz
{quote} enough de lulalalalala lol ... frikin languages freak me out.... da silva...
lol...i didnt know this was a PG thread!!! LOL

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