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Cable Update (GBPUSD)

  • #752,301
  • Jun 16, 2023 2:14am Jun 16, 2023 2:14am
G/M, big >30day adr bullish thrust dly candle y/day, 3rd bullish consecutively and a new yrly hi. this after the u.s data inspired more upside following the bounce off the dly part of the prev 4hr/dly sw hi zone that started @ 2679 = prev res = pot rbs. Small range mixed Asian session but an immediate London buy above the asian Hi to a new current yrly hi above y/day's hi, where supply has been encountered.

So far this week, 168% of 13wk awr traveled.

1hr below
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Trader with an Edge.
  • #752,302
  • Jun 16, 2023 2:15am Jun 16, 2023 2:15am
Quoting mysterio
{quote} big sellers getting positioned {image}
Dxy tested and rejected the D1 kink on the H1 TF, All eyes on GU Asain low with drumrolls.
Face 'ur fears & tame 'ur greed
  • #752,303
  • Jun 16, 2023 2:18am Jun 16, 2023 2:18am
Quoting JereMi256
{quote} Dxy tested and rejected the D1 kink on the H1 TF, All eyes on GU Asain low with drumrolls.
How have you found the past couple weeks for trading JereMi? I think we trade quite similarly just curious on your experience
  • #752,304
  • Jun 16, 2023 2:19am Jun 16, 2023 2:19am
Quoting Whale
{quote} i have similar count like the pink labels on 1h/30m I posted it in my last post but if your 5th will go so high the 3rd will be the shortest
Hola Whale. How about counting waves but not necessarely from lows or highs within a swing? And a formation of 6 complete waves(6 highs or lows) depending direction. If you do not Know where to start, count backwards.
POSTMASTER
  • #752,305
  • Jun 16, 2023 2:20am Jun 16, 2023 2:20am
Quoting Robinhood1
{quote} Hola Whale. How about counting waves but not necessarely from lows or highs within a swing? And a formation of 6 complete waves(6 highs or lows) depending direction. If you do not Know where to start, count backwards.
4h tf does not look bad
POSTMASTER
  • #752,306
  • Jun 16, 2023 2:25am Jun 16, 2023 2:25am
Quoting Robinhood1
{quote} Hola Whale. How about counting waves but not necessarely from lows or highs within a swing? And a formation of 6 complete waves(6 highs or lows) depending direction. If you do not Know where to start, count backwards.
Hola amigo, buenos dias
i dont think my count is from the low, i have my own method for waves, based of years of charts observations.

but i will be happy to get visual example of other method
  • #752,307
  • Jun 16, 2023 2:25am Jun 16, 2023 2:25am
Quoting Moty
Will 1.28126 hold ?
Looks good
Short to 1.27500 at least
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yes yes yes
  • #752,308
  • Jun 16, 2023 2:28am Jun 16, 2023 2:28am
... to the upside, the current dly hi 2828, Dly R1 @/around 2836, 2848 is @/around Mthly R2, then a prev dly/minor wkly sw lo zone = prev supp = pot sbr (from Nov'2020,) that begins @ 2854 and extends to circa 2914/30 respectively on dly/wkly t/f's. This contains a longer-term fib @ 2868 (85.4% of a major swing down to 0327,) then Wkly R3 @/around 2878 and Dly R2 @/around 2889.
Trader with an Edge.
  • #752,309
  • Jun 16, 2023 2:28am Jun 16, 2023 2:28am
Quoting mysterio
{quote} How have you found the past couple weeks for trading JereMi? I think we trade quite similarly just curious on your experience
Terrible, I suffer from indiscipline and impatience.
Face 'ur fears & tame 'ur greed
  • #752,310
  • Jun 16, 2023 2:30am Jun 16, 2023 2:30am
When the pound-yen price movement is strong, it will not go down even if it crosses the polyban. Ascend on the bandwalk. One registration in Tokyo, none in London yet.
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  • #752,311
  • Jun 16, 2023 2:36am Jun 16, 2023 2:36am
shortterm sell 1.2797
You have an IQ lower than 90 if you interact with this user.
  • #752,312
  • Jun 16, 2023 2:39am Jun 16, 2023 2:39am
Quoting JereMi256
{quote} Terrible, I suffer from indiscipline and impatience.
Same, I'm suffering from this for this week.
Had gains, returned it into market.
Exhausted
  • #752,313
  • Jun 16, 2023 2:40am Jun 16, 2023 2:40am
Quoting Bella.al
{quote} Current Rate : 1.28025 I am just watching my charts seeing if the current resistance will hold or not . I still got about 3 Hours left before i can take a new position. Bella's - Trend-0.25 Resistance : 1.28161 Bella's GMT Switch v1.6 {image}

Sorry , made a mistake with the new v1.6. Today's Trading time =13:38 PM GMT not 10:21 AM GMT

However, still watching the resistance . Bella's Trend-0.25 Resistance : 1.28161

Bella's GMT Switch v1.6
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Goddess of Thunder..
  • #752,314
  • Jun 16, 2023 2:40am Jun 16, 2023 2:40am
Quoting Moty
{quote} Looks good Short to 1.27500 at least {image}
1.27 looks good from chart tbh.
Exhausted
  • #752,315
  • Jun 16, 2023 2:41am Jun 16, 2023 2:41am
Quoting Pat Chiko
{quote} Here is my short comments (my newb view only) on your view. The British pound (GBP) has been on an upward trajectory against the US dollar (USD) in recent weeks, reaching a high of 1.28160 on June 16. This is due to a number of factors, including the Bank of England's (BoE) hawkish stance on monetary policy and the European Central Bank's (ECB) dovish stance. The BoE has raised interest rates four times since December 2021, and is expected to raise rates again in August. The ECB, on the other hand, has only raised rates once, and is not...
What about July ECB Meeting, bro?
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More time in the market, does not mean you trade better!
  • #752,316
  • Jun 16, 2023 2:43am Jun 16, 2023 2:43am
the Sell Mentality this week was truly a miscue, embattled sellers still trying to sell Friday to recover while 1.2867 resistance line is not far from sight
Keep the Lights on then you can catch the rise from the dark.
  • #752,317
  • Jun 16, 2023 2:44am Jun 16, 2023 2:44am
LO open first 15 min candle held so far, long only.
on a postive roll...
  • #752,318
  • Jun 16, 2023 2:45am Jun 16, 2023 2:45am
GU and EU lower tf liquidity taken to retrace
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Was slipping off the edge but i held up.
  • #752,319
  • Jun 16, 2023 2:47am Jun 16, 2023 2:47am
The last days were tough and what I found out, and this is very important, there are moments (which can last for hours or even few days) where you should avoid trading or only with small positions. The reason for that is that the market is not always the same. So if your system is not adapted to market changes regarding PA you get screwed over and over again, losing, gaining, losing, gaining.

It is hard to admit that there are times where you cannot really earn money with your market you are in. That'S the reason why it is important to be patient or to have other markets to trade in.

Here an example of my "performance":
Ususally this is the best:
GBP/USD
USD/CHF
USD/JPY

Currently:
USD/JPY
USD/CHF
GBP/USD

So sometimes it's not your fault or the fault of the system itself. It is the market which kicks you in the butt.
  • #752,320
  • Jun 16, 2023 2:48am Jun 16, 2023 2:48am
Quoting JereMi256
{quote} Terrible, I suffer from indiscipline and impatience.
last wk was a loss for me probably my fault
only taken two trades this week one loss yesterday and one just coming into profit from last night/today
might end the week in profit depending what happens here
challenging time for sure
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