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Cable Update (GBPUSD)

  • #777,341
  • Sep 22, 2023 3:26am Sep 22, 2023 3:26am
The price is going to retest the 1.2242 area which is the 3rd monthly support level.
Attached Image (click to enlarge)
Click to Enlarge Name: Image 3.png Size: 49 KB
  • #777,342
  • Sep 22, 2023 3:31am Sep 22, 2023 3:31am
OOH MY GOD!!!!
Secret to the Price Action is Liquidity.
  • #777,343
  • Sep 22, 2023 3:33am Sep 22, 2023 3:33am
Quoting iusman23
OOH MY GOD!!!!
Still Short?
  • #777,344
  • Sep 22, 2023 3:34am Sep 22, 2023 3:34am
Numbers are mixed! Hmmm...now I'm curious. GBP was beaten up already quite a lot and it's friday... Could retrace now. I took a small long from here - even if it is stupid if I see the retail money.
  • #777,345
  • Sep 22, 2023 3:34am Sep 22, 2023 3:34am
Quoting TheWraith
{quote} Still Short?
Yes.
Secret to the Price Action is Liquidity.
  • #777,346
  • Sep 22, 2023 3:35am Sep 22, 2023 3:35am
Quoting JackintheBox
Numbers are mixed! Hmmm...now I'm curious. GBP was beaten up already quite a lot and it's friday... Could retrace now. I took a small long from here - even if it is stupid if I see the retail money.
There is still USD news pending.
Secret to the Price Action is Liquidity.
  • #777,347
  • Sep 22, 2023 3:35am Sep 22, 2023 3:35am
...small knee-jerk down move on the data release initially, that prev 1hr/minor 4hr sw lo zone seeing further demand lower down in it. Asc t/line shown on chart below joins 0327 with 2231-y/day lo.

4hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB
Trader with an Edge.
  • #777,348
  • Sep 22, 2023 3:36am Sep 22, 2023 3:36am
If W Pattern on H1 doesn't materialize and the prior low doesn't hold, you're good to go! Another red candle will follow this one if the low is broken in my opinion.
  • #777,349
  • Sep 22, 2023 3:37am Sep 22, 2023 3:37am
Quoting TheWraith
{quote} Still Short?
It almost gave a hit to my tp but it literally missed my TP and now I have drawdown.
Secret to the Price Action is Liquidity.
  • #777,350
  • Edited 3:53am Sep 22, 2023 3:39am | Edited 3:53am
Long 1.2250 SL 1.2235 (revised SL)
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #777,351
  • Sep 22, 2023 3:42am Sep 22, 2023 3:42am
longed 2238 stop 22135 tp 234x
  • #777,352
  • Sep 22, 2023 3:42am Sep 22, 2023 3:42am
Quoting JackintheBox
Numbers are mixed! Hmmm...now I'm curious. GBP was beaten up already quite a lot and it's friday... Could retrace now. I took a small long from here - even if it is stupid if I see the retail money.
Sold all, small loss. I don't like the PA. They prepare sth. and I cannot read if up or down. I saw little dollar weakness (so GBP/USD up) but i is may be only temporary. I think it could be that they want to test the lows from yesterday again. Not sure if they manage to do that. Euro could be too strong for new lows on GBP/USD.
  • #777,353
  • Sep 22, 2023 3:46am Sep 22, 2023 3:46am
I think, price retrace will start somewhere 1.22300. But USD may drop GBP/USD again.
Secret to the Price Action is Liquidity.
  • #777,354
  • Sep 22, 2023 3:49am Sep 22, 2023 3:49am
Quoting iusman23
I think, price retrace will start somewhere 1.22300. But USD may drop GBP/USD again.
Looking good so far..
  • #777,355
  • Sep 22, 2023 3:53am Sep 22, 2023 3:53am
Quoting TheWraith
{quote} Looking good so far..
Am I close?
Secret to the Price Action is Liquidity.
  • #777,356
  • Sep 22, 2023 3:55am Sep 22, 2023 3:55am
SIPs data mixed, yet more down 123-12330 for a max target for bulls being a Friday a hundred pip end to end is feasible. With more data later we could even see a further drop to 12150 which would mean the pound has dropped 1000 pips since July! I mean wtf!
Insane in the Brain..
  • #777,357
  • Sep 22, 2023 3:56am Sep 22, 2023 3:56am
Quoting iusman23
{quote} Am I close?
Close to what?
  • #777,358
  • Sep 22, 2023 3:58am Sep 22, 2023 3:58am
Quoting TheWraith
{quote} Close to what?
Analysis.
Secret to the Price Action is Liquidity.
  • #777,359
  • Edited 4:18am Sep 22, 2023 3:59am | Edited 4:18am
I have edited this post because i was not happy with the scaling of the waves, this time looks much better
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 43 KB
Follow The Markets Structure - Patience and Discipline
  • #777,360
  • Sep 22, 2023 4:00am Sep 22, 2023 4:00am
...gmt+3 4hr candle closes bearish-bodied. Price so far today has traveled 66% of 30day adr, which is currently a measly 87pips.

4hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
Trader with an Edge.
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