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Cable Update (GBPUSD)

  • #749,901
  • Jun 6, 2023 9:12am Jun 6, 2023 9:12am
Quoting Bella.al
{quote} OK , so after 2 hours i am still waiting for market to do something for me . Bella's Support at 1.23862 is protecting my position and i hope it holds. Bella's GMT Switch v1.1 {image}
Yay, finally moving in my direction after almost 3 Hours . I am happy Bella's Support at 1.23862 is still holding my long position.

Bella's GMT Switch v 1.1
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Goddess of Thunder..
  • #749,902
  • Jun 6, 2023 9:15am Jun 6, 2023 9:15am
Quoting DrDave
{quote} Can it drop below 2350 ? Sure it can: Nearly anything is possible. But what is LIKELY to happen is of more value.
The weekly, m1 is bullish...now m5 turned bullish too.

To me, the price is in a range...

But Asia broke the important level 2445...

If that is being the case, i try to buy the dips. Even if my stop gets hit
Intraday only.
  • #749,903
  • Jun 6, 2023 9:16am Jun 6, 2023 9:16am
Quoting navk
{quote} This theory has been working for me. Looks..working now too.
LOL. Price still has a ways to travel to get to the area of R1. Look at H1. Do you actually think that it is probable that price will now climb ABOVE that H1 swing high to get to R1?? How about it being more probable that this up move is just RALLIES to be sold to this H1/H2/H4 down swing?
To free Gazans of Hamas, use whatever it takes.
  • #749,904
  • Jun 6, 2023 9:22am Jun 6, 2023 9:22am
Quoting navk
{quote} The weekly, m1 is bullish...now m5 turned bullish too. To me, the price is in a range... But Asia broke the important level 2445... If that is being the case, i try to buy the dips. Even if my stop gets hit
I sold 6 times today. I see buying dips as counter-trend entries: H4 has not given up control of down bias. In fact, H8 is trying to join.

An up move now also fits well with a mean reversion move back to the daily pivot before back down again.
To free Gazans of Hamas, use whatever it takes.
  • #749,905
  • Jun 6, 2023 9:23am Jun 6, 2023 9:23am
GU appears to shot up on the basis of poor economic data in the services PMI that suggests rate increases might be put off.
  • #749,906
  • Jun 6, 2023 9:24am Jun 6, 2023 9:24am
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  • #749,907
  • Jun 6, 2023 9:24am Jun 6, 2023 9:24am
Quoting navk
{quote} This theory has been working for me. Looks..working now too.
you are a very smart trader
  • #749,908
  • Jun 6, 2023 9:25am Jun 6, 2023 9:25am
Quoting DrDave
{quote} LOL. Price still has a ways to travel to get to the area of R1. Look at H1. Do you actually think that it is probable that price will now climb ABOVE that H1 swing high to get to R1?? How about it being more probable that this up move is just RALLIES to be sold to this H1/H2/H4 down swing?
Anything can happen.

R1 can get hit.

S1 can get hit.

I play with risk level set.

Anyways, let us see...let the price do talking.

Yes, you are right, the price in H1,H2,H4 are all bearish.

The probability with H1,H2,H4 ( Bearish ), the price can go down all the way to 2350.

Keep in mind...the price has found h4 support.

Good to talk on different perspective.

I am basically support/resistance trader in h4 TF
Intraday only.
  • #749,909
  • Jun 6, 2023 9:27am Jun 6, 2023 9:27am
Quoting navk
{quote} the weekly, m1 is bullish...now m5 turned bullish too. To me, the price is in a range... But asia broke the important level 2445... If that is being the case, i try to buy the dips. Even if my stop gets hit

weakness is all over gu

safer to take ur money of table and watch for next setup...
MY OPINION NOT FINANCIAL ADVISE
  • #749,910
  • Jun 6, 2023 9:31am Jun 6, 2023 9:31am
Quoting donfriday
{quote} weakness is all over gu safer to take ur money of table and watch for next setup...
MY result is still negative for the day.

If I close with small profit or small loss, the next minute..the price will shoot up.

Instead , let the stop get hit if h4 support gives up.
Intraday only.
  • #749,911
  • Edited 9:42am Jun 6, 2023 9:31am | Edited 9:42am
Quoting dantpm
GU appears to shot up on the basis of poor economic data in the services PMI that suggests rate increases might be put off.
this morning can just be viewed as a retest IMHO
the whole move down can just be to fill this price action imbalance from yesterdays release
i don't think a bullish bias for NY is that wild
this kind of move happens most weeks
IF we can get a clearance above VWAP at 1.2421 i'll be happier
Have to say this week has been a bit tricky compared to most, last few weeks have been a dream
edit-nevermind can safely ignore this cause my trailing stop is about to hit
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  • #749,912
  • Jun 6, 2023 9:34am Jun 6, 2023 9:34am
Thanks to this, recovered some.
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The market hides a perfect geometry.
  • #749,913
  • Jun 6, 2023 9:36am Jun 6, 2023 9:36am
Quoting FulMargnAlch
Thanks to this, recovered some. {image}
Please say that's a live account mate.
  • #749,914
  • Jun 6, 2023 9:39am Jun 6, 2023 9:39am
Quoting jayvicious
{quote} Please say that's a live account mate.
It's live. A corpo account.
The market hides a perfect geometry.
  • #749,915
  • Jun 6, 2023 9:40am Jun 6, 2023 9:40am
"Analysis Paralysis"
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  • #749,916
  • Jun 6, 2023 9:43am Jun 6, 2023 9:43am
DXY, H4
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Trendlines H1,H4, SMC
  • #749,917
  • Jun 6, 2023 9:43am Jun 6, 2023 9:43am
Quoting FulMargnAlch
{quote} It's live. A corpo account.
damn, the balance must be huge..

I wonder when will gu go long..
  • #749,918
  • Jun 6, 2023 9:47am Jun 6, 2023 9:47am
No follow ups on that bullish move just now.
I dont think we'll reach R1 today. But we'll have ti wait and see
Exhausted
  • #749,919
  • Jun 6, 2023 9:52am Jun 6, 2023 9:52am
Quoting Elysion
No follow ups on that bullish move just now. I dont think we'll reach R1 today. But we'll have ti wait and see
I just set stop loss at 2390.

Prefer not to be emotional in trading.

Remember... 2390 has not been broken.

2445 ( 100 HR MA ) broke but fell. 200 HR MA is 2405.

As long as price keeps climbing above 2405, i would prefer bullish scenario.

Wait for the breakout today.

IMO, the price needs to get some liquidity...

This week, if lows broke.. then 1.2300 is the target.
Intraday only.
  • #749,920
  • Jun 6, 2023 9:54am Jun 6, 2023 9:54am
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