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Cable Update (GBPUSD)

  • #754,221
  • Jun 26, 2023 5:54am Jun 26, 2023 5:54am
I think this is a more likely order block to which it will retrace. This is the one that made BoS, so it carries more weight than the higher one. But...we'll see, who knows
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  • #754,222
  • Jun 26, 2023 5:57am Jun 26, 2023 5:57am
Quoting TheWraith
{quote} Yo Dr. Actually, if Daily is trending up I'll wait for Hourly to confirm Long and go Long then. Will bypass H4 actually. Today's a shitty day so probably will wait for more active price action before taking any trade.
If you are saying that D1 is "trending up", then from June 16, it has been in a corrective swing down, right? If that is the case, then you either are waiting for a confirmation that D1 has returned up so that you can look for a buy setup, or you are going to simply Hope&Pray that when you start buying on TFs below D1 that the up move on your selected smaller TF, that is likely to be a mere rally to the D1 down swing, will at least travel high enough to get you in the green before the rally ends and the return down to the D1 kicks in.

Note that as I explained in an earlier post, if you choose not to check H4 and it is still in a down swing when you buy H1, then the chances are greater for your H1 move up to be a mere rally than for it to be part of an up trend that will reverse the D1 down swing.
To free Gazans of Hamas, use whatever it takes.
  • #754,223
  • Jun 26, 2023 6:00am Jun 26, 2023 6:00am
Currently in short on a 15min. It was strange since DXY was going down during the most significant drop since opening position.
Now that the DXY is going up, I'm hoping it confirms the trend to downwards.
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  • #754,224
  • Jun 26, 2023 6:00am Jun 26, 2023 6:00am
Quoting Moty
{image}
Yessss
I'm in profit
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yes yes yes
  • #754,225
  • Jun 26, 2023 6:02am Jun 26, 2023 6:02am
Quoting voeltoez
took short 1.2738 sl 1.2750 ...sell again @1.2715 tp 1.2650
change sl to be...hope could meet target today
  • #754,226
  • Jun 26, 2023 6:03am Jun 26, 2023 6:03am
That H1 move could be an irregular correction where the B goes higher than A , bulls and bears both now trapped.
Follow The Markets Structure - Patience and Discipline
  • #754,227
  • Jun 26, 2023 6:04am Jun 26, 2023 6:04am
Quoting Cetka
Currently in short on a 15min. It was strange since DXY was going down during the most significant drop since opening position. Now that the DXY is going up, I'm hoping it confirms the trend to downwards. {image} {image}
Closed position on 7%. Better to take it now. There will always be another opportunity.
  • #754,228
  • Jun 26, 2023 6:12am Jun 26, 2023 6:12am
...price currently still above the Asian lo/current dly lo despite the drop from the prev 1hr/minor 4hr sw hi zone...price at the current p/back lo challenging a prev 1hr sw lo zone that extends down to Asian/current dly lo

1hr below
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Trader with an Edge.
  • #754,229
  • Jun 26, 2023 6:15am Jun 26, 2023 6:15am
Quoting DrDave
{quote} If you are saying that D1 is "trending up", then from June 16, it has been in a corrective swing down, right? If that is the case, then you either are waiting for a confirmation that D1 has returned up so that you can look for a buy setup, or you are going to simply Hope&Pray that when you start buying on TFs below D1 that the up move on your selected smaller TF, that is likely to be a mere rally to the D1 down swing, will at least travel high enough to get you in the green before the rally ends and the return down to the D1 kicks in. Note...
Sorry Dave, I haven't mentioned the fact that I'm looking at all 28 currency pairs and not just GBP/USD. Thanks for further explanations. Look, by the time you wait for H4 to confirm and allign with Daily, you will definitely not be so early in the trade as supposed to "risking" with H1 signal right away and not waiting for H4 to perhaps end Daily correction and start alligning with Daily. Yes, it's riskier with this method, but more often then not if Daily is in an uptrend, Hourly signal will more often then not haha be sufficient to make a good trade.
  • #754,230
  • Jun 26, 2023 6:25am Jun 26, 2023 6:25am
CHFJPY perfect example of alignment

H1 was in correction against H4 and H4 moving with daily , H1 moved back into alignment with H4 and D1 , easy 30 pips so far
Follow The Markets Structure - Patience and Discipline
  • #754,231
  • Jun 26, 2023 6:26am Jun 26, 2023 6:26am
Quoting Georginson
{quote} i expect at least 13 pips below this week open of 1.2710, this means 1.2697 will very likely be touched. My bias this week is bullish to 1.2900 as far as price trades above 1.2670, but will wait to buy anywhere from 1.2697 area.
Bought 1.2699... target 1.2800
Data + Stat + Risk/Emotions Management
  • #754,232
  • Jun 26, 2023 6:26am Jun 26, 2023 6:26am
Quoting pipfarm
CHFJPY perfect example of alignment H1 was in correction against H4 and H4 moving with daily , H1 moved back into alignment with H4 and D1 , easy 30 pips so far
Nice job! We should look at all 28 pairs not just one...
  • #754,233
  • Jun 26, 2023 6:40am Jun 26, 2023 6:40am
Market movements on GBP/USD are very mysterious today
Lost in Narrative
  • #754,234
  • Jun 26, 2023 6:42am Jun 26, 2023 6:42am
Around 1.2715 I'll go Short until 1.263. One more green 15M candle and I'm in.
Random trade, nothing to do with Dave's strategy. I'll try that some other time..
  • #754,235
  • Jun 26, 2023 6:43am Jun 26, 2023 6:43am
...steep drop off from current dly hi to that prev 1hr/4hr sw lo } once tested and held as supp zone, = prev supp = pot supp, that leads down to fri's/last wk's lo.....demand comes in there.

1hr below
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Trader with an Edge.
  • #754,236
  • Jun 26, 2023 6:44am Jun 26, 2023 6:44am
Quoting TheWraith
{quote} Nice job! We should look at all 28 pairs not just one...
That is what i do , only take the ones in alignment instead of being desperate to pick bottoms or trading corrective moves, alignment ensures trades are impulses.
Follow The Markets Structure - Patience and Discipline
  • #754,237
  • Jun 26, 2023 6:44am Jun 26, 2023 6:44am
I’m now selling GU
  • #754,238
  • Jun 26, 2023 6:45am Jun 26, 2023 6:45am
Quoting pipfarm
{quote} That is what i do , only take the ones in alignment instead of being desperate to pick bottoms or trading corrective moves, alignment ensures trades are impulses.
This should work like charm actually yeah. Keep doing that, I'll join you soon!
  • #754,239
  • Jun 26, 2023 6:46am Jun 26, 2023 6:46am
Quoting Bella.al
{quote} Current Rate : 1.27383 market is very slow, i have currently floating profit of +27 Pips . There is D-R1 1.27470 which i require to be taken by Bulls, I need Bella's Dynamic Support : 1.27047 hold for my open position . Bella's Blue {image}
This is very interesting, my stoploss again saved from hitting...my Bella's 13:38 GMT Calculation for Bella's Support/Resistance is definitely better than v1.5

Bella's Support : 1.26914

Bella's Blue ( beta ver 1.6.b )

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Goddess of Thunder..
  • #754,240
  • Jun 26, 2023 6:49am Jun 26, 2023 6:49am
Quoting Yngwie
Small risk sold 1.2736 SL 1.2756 (revised) {image}
closed 45p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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