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Cable Update (GBPUSD)

  • #756,361
  • Jul 6, 2023 6:26am Jul 6, 2023 6:26am
However, today is full of major NEWS, better to stay away in NY session.
  • #756,362
  • Jul 6, 2023 6:26am Jul 6, 2023 6:26am
Attached Image (click to enlarge)
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  • #756,363
  • Jul 6, 2023 6:27am Jul 6, 2023 6:27am
What moved GU this way... Any fundamental in support at all?
  • #756,364
  • Jul 6, 2023 6:28am Jul 6, 2023 6:28am
Daily inside bars before the push up from H1/H4 = minor wave


Daily LH/LL bars are indicative of an impulse wave itself from H4
Follow The Markets Structure - Patience and Discipline
  • #756,365
  • Jul 6, 2023 6:30am Jul 6, 2023 6:30am
Quoting navk
Yes, just look to buy only today... you will not loose. For selling, caution is needed. On a daily buy candle day, extreme caution is needed to sell.
I don't plan to hold sell for long, especially in GU.
However in other pairs I might hold onto the sell.
Exhausted
  • #756,366
  • Jul 6, 2023 6:31am Jul 6, 2023 6:31am
Quoting Scotteyy
{quote} In my opinion, theres no point thinking about the reversal. Trends can go on much longer than people expect. Daily is up, 4h broke structure to the upside, 1h/15m is up. Start stacking buys below 1.2740.
There is a difference between a true reversal and a correction , takes a lot for the whole market to reverse

Monthly , weekly, D1 now UP H4 trending up, H1 trending up, short term reversals i class as corrective
Follow The Markets Structure - Patience and Discipline
  • #756,367
  • Jul 6, 2023 6:34am Jul 6, 2023 6:34am
Quoting pipfarm
{quote} There is a difference between a true reversal and a correction , takes a lot for the whole market to reverse Monthly , weekly, D1 now UP H4 trending up, H1 trending up, short term reversals i class as corrective
Agreed, hence why im not chancing with shorts and instead will stack buys on a retracement.
  • #756,368
  • Jul 6, 2023 6:39am Jul 6, 2023 6:39am
Quoting BeeTogether
{quote} although the government and BoE will scream from the top saying no recession and the pound shoots higher
Pretty sure that this is really manipulation of the USD lower and the BOE is simply capitulating.
  • #756,369
  • Jul 6, 2023 6:44am Jul 6, 2023 6:44am
I think it's going to go up to the area where it is currently (a bit more for liquidation) and then drop to 1.2555.
It also aligns with the EU, as well as DXY. I could be very wrong too
Attached Image(s) (click to enlarge)
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  • #756,370
  • Jul 6, 2023 6:45am Jul 6, 2023 6:45am
Quoting TheWraith
Long: EUR/CAD GBP/AUD GBP/CAD USD/CAD USD/CHF CAD should be the weakest currency today and probably tommorow. See you all later!
Hopefully, numbers will be good for US now in half an hour so I can exit USD trades at zero or close to it.
Attached Image (click to enlarge)
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  • #756,371
  • Jul 6, 2023 6:56am Jul 6, 2023 6:56am
I am buying USDCAD at 1.3284. Small position.
  • #756,372
  • Jul 6, 2023 7:01am Jul 6, 2023 7:01am
Quoting dantpm
{quote} Pretty sure that this is really manipulation of the USD lower and the BOE is simply capitulating.
definitely. Now I’m on damage control let’s see how this week ends. If we drop below 127 then I carry on if by Friday no signs of getting out I’m gonna take the hit and look to go long for 130 target
Insane in the Brain..
  • #756,373
  • Jul 6, 2023 7:04am Jul 6, 2023 7:04am
Looks like a good potential short here as a hedge.
Trade at your own risk.
  • #756,374
  • Jul 6, 2023 7:12am Jul 6, 2023 7:12am
Quoting Fx3423454
Looks like a good potential short here as a hedge.
Went Short @ 1.27751
SL 1.28000

Come on USD...
Retracement is in order hopefully.
  • #756,375
  • Jul 6, 2023 7:15am Jul 6, 2023 7:15am
Quoting TheWraith
{quote} Went Short @ 1.27751 SL 1.28000 Come on USD... Retracement is in order hopefully.
YES!!
  • #756,376
  • Jul 6, 2023 7:18am Jul 6, 2023 7:18am
Quoting Moty
i going on an drop at the eu For 60 pips {image}
I have a dream , crooky md
Attached Image (click to enlarge)
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yes yes yes
  • #756,377
  • Jul 6, 2023 7:19am Jul 6, 2023 7:19am
Woooah make a cuppa coffee and this thing drops 40pips! What’s going on?
Insane in the Brain..
  • #756,378
  • Jul 6, 2023 7:20am Jul 6, 2023 7:20am
Oh, tp hit :3
Now looking for place to buy... Oh wait, I don't wanna trade NY session today.
I'll sit this one out.
Exhausted
  • #756,379
  • Jul 6, 2023 7:21am Jul 6, 2023 7:21am
Quoting TheWraith
{quote} Went Short @ 1.27751 SL 1.28000 Come on USD... Retracement is in order hopefully.
All trades closed. Closed USD trades at zero and close to it haha. Awesome day for now!

GBP/USD trade now was basically get the impact and get out.
Attached Image (click to enlarge)
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  • #756,380
  • Jul 6, 2023 7:23am Jul 6, 2023 7:23am
Quoting BeeTogether
Woooah make a cuppa coffee and this thing drops 40pips! What’s going on?
ADP! You forgot about it or?
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