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Cable Update (GBPUSD)

  • #765,141
  • Aug 8, 2023 3:57am Aug 8, 2023 3:57am
G/M, (late.) The prev 1hr/4hr sw hi zone = prev res = pot res, that extends to 2792 the problem for the bulls with 2 x 1hr attempts to get north of it now, one of them the Asian hi/current dly hi. Still a 3rd consec dly candle resulted though. So far today a downside break below the Asian lo and support encountered @ a prev 1hr sw hi zone = prev res = pot rbs.

1hr below
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Trader with an Edge.
  • #765,142
  • Aug 8, 2023 3:58am Aug 8, 2023 3:58am
buy - 1.2754

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Together we can be strongest
Vantage Return This Month: na
  • #765,143
  • Aug 8, 2023 3:58am Aug 8, 2023 3:58am
Quoting pipfarm
{quote} Nice trades , some were the same setups as myself , unfortunately the entries happened overnight so i missed them. Your trading from D1 now, what a massive difference it makes. Which pairs are your CAD trades, i will take a look.
It's in Journal. Feel free to stop by! CAD/CHF and CAD/JPY. Should have exited already, but..
  • #765,144
  • Aug 8, 2023 4:06am Aug 8, 2023 4:06am
...gmt+3 price feed 4hr just closed as chart below a few mins ago on the hour. There is a pattern of bearish hidden div @ Friday's hi on 4hr which may hold valid whilst under 2883 on any deeper move to the upside. Not much of a next higher t/f (dly) downtrend though?

1hr/4hr below
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Trader with an Edge.
  • #765,145
  • Aug 8, 2023 4:10am Aug 8, 2023 4:10am
Quoting Aussi
{image} just finished this chess board has nothing to do with the gbp
I play chess, am a GM myself. Wanna play?




I'm not a GM hahaha, but I do play chess constantly for I think 7 years now.
  • #765,146
  • Aug 8, 2023 4:11am Aug 8, 2023 4:11am
LONG EURAUD & EURNZD
Trade at your own risk.
  • #765,147
  • Aug 8, 2023 4:14am Aug 8, 2023 4:14am
Quoting Fx3423454
LONG EURAUD & EURNZD
Hopefully uptrend will continue on these pairs and we'll make some money!

Let's goooo!
  • #765,148
  • Aug 8, 2023 4:16am Aug 8, 2023 4:16am
Quoting TheWraith
{quote} It's in Journal. Feel free to stop by! CAD/CHF and CAD/JPY. Should have exited already, but..

CADCHF D1 your buying into a down swing after the correction, if you look at D1 again there is an abc correction and now the swing down , W1 is also below MN1

CADJPY D1 is below W1 , D1 is showing an abc correction and now a push down so direction should be short.


Those MAs your using are a bit slow
Follow The Markets Structure - Patience and Discipline
  • #765,149
  • Aug 8, 2023 4:17am Aug 8, 2023 4:17am
The failure to break 1.27833 has renewed d bear interest buyers should be careful as all eyes now should focus on 1.27000 at the crossing of 1.27300.
Keep the Lights on then you can catch the rise from the dark.
  • #765,150
  • Aug 8, 2023 4:17am Aug 8, 2023 4:17am
sold for figure 1.27
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chaos is just unknown order
  • #765,151
  • Aug 8, 2023 4:19am Aug 8, 2023 4:19am
Quoting pipfarm
{quote} CADCHF D1 your buying into a down swing after the correction, if you look at D1 again there is an abc correction and now the swing down , W1 is also below MN1 CADJPY D1 is below W1 , D1 is showing an abc correction and now a push down so direction should be short. Those MAs your using are a bit slow
I didn't look at Weekly Chart and am only going on signals I get on Daily TF.
They may be slow sometimes, but this keeps me from entering bad trades and very early signals. Only when system is sure price should go up or down does MA's cross.

They are working great so far! 3/3!
They can't be right all the time!

But thanks for mentioning!
  • #765,152
  • Aug 8, 2023 4:20am Aug 8, 2023 4:20am
Quoting Wavegarrick
{quote} One more buy trade added. Cheers. {image}
great work Wave
Compulsions can be hard to resist
  • #765,153
  • Aug 8, 2023 4:23am Aug 8, 2023 4:23am
Quoting Wavegarrick
{quote} I need to clear the air where it is claimed/assumed that when I exit I suddenly have more trades making it look suspicious. Let me explain how I work. Averaging down is a trading strategy used by many traders and investors. When the price drops after you buy it, you do not exit with a loss but instead, buy more. By repeating this process several times, the average purchase price becomes lower. As I don't have time to sit and post trades and charts all day long I usually add trades 10 to 20 pips lower when price drops after I buy. I have...
Thanks Chief.
Honestly I don't need explanation from you cos I don't doubt any of your trades at all.
I understand perfectly how you operate and I'm always saving your charts to learn one or two things.
Thanks
  • #765,154
  • Aug 8, 2023 4:25am Aug 8, 2023 4:25am
Long 2740 sl 2730 test ride..will add later
  • #765,155
  • Aug 8, 2023 4:26am Aug 8, 2023 4:26am
GBP/USD H4 candle once more getting pretty important. If this H4 candle closes below 1.2730 it will just further confirm that price is going down.
Also, Daily candle not closing above Resistance, but bouncing off of it for two times is already a sign Bears are in control, but as I'm saying if this H4 candle closes below 1.2730 it is a great sign for Bears.
  • #765,156
  • Aug 8, 2023 4:31am Aug 8, 2023 4:31am
...in as much as there is the 4hr bearish hidden div @ fri's hi, as mentioned, there is a pattern of 1hr bullish hidden div @ current London/dly lo which may stay valid whilst above 2714. Same situation though really - ie no real next higher t/f trend - ie 4hr. 2 x HH's and HL's followed by a LH on that t/f now. Take your pick!

Bit rangy overall on 1hr right now.
Trader with an Edge.
  • #765,157
  • Aug 8, 2023 4:34am Aug 8, 2023 4:34am
GBP/USD Daily Chart
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  • #765,158
  • Aug 8, 2023 4:45am Aug 8, 2023 4:45am
GBP/USD (1H): it looks like the correction phase is over, and the price is preparing to continue the downtrend after breaking through the local support.
Potential target: 1.26300 support area.
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  • #765,159
  • Aug 8, 2023 4:47am Aug 8, 2023 4:47am
...dly S1 / prev 30min sw hi zone being challenged @ current dly lo. 4hr part of the prev 1hr/4hr sw lo zone that extends down to y/day's 2713 lo starts circa 2726.

1hr below
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Trader with an Edge.
  • #765,160
  • Aug 8, 2023 4:53am Aug 8, 2023 4:53am
SHORT EURUSD
Trade at your own risk.
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