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Cable Update (GBPUSD)

  • #780,621
  • Oct 5, 2023 8:04am Oct 5, 2023 8:04am
Quoting JackintheBox
{quote} First defense line for shorties today now 1.2136 area (Fib retrace), let's see how market reacts now, if they let it go till there (1.2136) or if they try to push it down now one more time.
oh dear, lots of weakness now on short side, even USD/JPY did not plunge more. No trade for me now. Ok, they (shorties) attack again now, let's see how much steam they have.
  • #780,622
  • Oct 5, 2023 8:04am Oct 5, 2023 8:04am
Also H4 closed green, I think more upside than downside as well.
Also BoJ along with weaker USD data is putting pressure.

3rd scenario is sideways cuz NFP tmrw
Exhausted
  • #780,623
  • Oct 5, 2023 8:04am Oct 5, 2023 8:04am
Quoting Elysion
{quote} That was tight bro, close call.
Very.
Face 'ur fears & tame 'ur greed
  • #780,624
  • Oct 5, 2023 8:04am Oct 5, 2023 8:04am
Quoting Fadhl
{quote} Here is an update of my LT and ST view. PA should retrace up to 1.248x-1.266x. Hence tomorrow NFP data should be negative (undershoot). In case of green NFP data, PA will go straight to 1.176x. For today, PA should test again 1.2078. {image} {image}
1.26000 is also the target for me
yes yes yes
  • #780,625
  • Oct 5, 2023 8:05am Oct 5, 2023 8:05am
I'm just switched to short to look at gold has dropped and will take pound down with her short term
average dude treading water
  • #780,626
  • Oct 5, 2023 8:06am Oct 5, 2023 8:06am
Big bois ain't here today.
That's odd.
Usually they're quite active around this time.
Exhausted
  • #780,627
  • Oct 5, 2023 8:08am Oct 5, 2023 8:08am
Quoting Moty
{quote} 1.26000 is also the target for me
Be interesting if we get there
Insane in the Brain..
  • #780,628
  • Oct 5, 2023 8:08am Oct 5, 2023 8:08am
Quoting MIKKI
I'm just switched to short to look at gold all that has dropped pound should fall as soon
Gold is the most manipulative pair so... I don't really take it to compare against currencies most of the time.
But you do you, and take care.
Exhausted
  • #780,629
  • Oct 5, 2023 8:09am Oct 5, 2023 8:09am
Quoting BeeTogether
{quote} Be interesting if we get there
Will take couple of weeks. Hah
Exhausted
  • #780,630
  • Oct 5, 2023 8:11am Oct 5, 2023 8:11am
The Pound/Dollar just closed a position and has rebounded again.
Although the 1 hour time frame has not been confirmed, we will enter a new short position where a short set has been created.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD(H1)_2023.10.05_220519.jpg Size: 26 KB
  • #780,631
  • Oct 5, 2023 8:16am Oct 5, 2023 8:16am
Quoting pipfarm
{quote} DXY we have a nice trough formed for a possible long - H4/D1 correction to go up in line with D1/W1 {image} AUDUSD Possible short - peak formed H4/D1 correction in line with D1/W1 down {image}
AUDUSD short activated - minor within intermediate

the other 3 trades are micro waves and need to see some actual downside before entering
Follow The Markets Structure - Patience and Discipline
  • #780,632
  • Oct 5, 2023 8:17am Oct 5, 2023 8:17am
Quoting Elysion
{quote} Will take couple of weeks. Hah
id be surprised if we get there in a couple of weeks. However if someone had said to me we would drop 1000 pips from Julys high by end of September I’d have said they smoking the strong stuff
Insane in the Brain..
  • #780,633
  • Oct 5, 2023 8:22am Oct 5, 2023 8:22am
Quoting BeeTogether
{quote} id be surprised if we get there in a couple of weeks. However if someone had said to me we would drop 1000 pips from Julys high by end of September I’d have said they smoking the strong stuff
I must have been smoking the strong stuff cause if you check my posts i have been saying this big drop is coming since that july top
Follow The Markets Structure - Patience and Discipline
  • #780,634
  • Oct 5, 2023 8:24am Oct 5, 2023 8:24am
Quoting JereMi256
{quote} SL 1.2106
SL adjusted to 1.2125
Face 'ur fears & tame 'ur greed
  • #780,635
  • Oct 5, 2023 8:26am Oct 5, 2023 8:26am
Quoting BeeTogether
{quote} id be surprised if we get there in a couple of weeks. However if someone had said to me we would drop 1000 pips from Julys high by end of September I’d have said they smoking the strong stuff
Hahaha, but it actually happened within 3 months.
Thus moving back to 1.26 isn't impossible.
in fact if you're a swing trader, u can likely start loading longs towards 1.26. Or probably after NFP since 1.2 is still available.
Exhausted
  • #780,636
  • Oct 5, 2023 8:32am Oct 5, 2023 8:32am
Quoting Yngwie
Long 1.2108 SL 1.2098
Closed 45p. Sit back & relax
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #780,637
  • Oct 5, 2023 8:32am Oct 5, 2023 8:32am
I'm actually looking at gold right now.
If I were to make a prediction of which way NFP will move the USD based on Gold H4 of my system.
Dollar will drop while gold will spike towards 1860.
Exhausted
  • #780,638
  • Oct 5, 2023 8:33am Oct 5, 2023 8:33am
Sold 1.2153 SL 1.2163
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #780,639
  • Oct 5, 2023 8:33am Oct 5, 2023 8:33am
Quoting Yngwie
{quote} Closed 45p. Sit back & relax
That's early. Not leaving some for potential 1.22? Or at least yesterday high.
Exhausted
  • #780,640
  • Oct 5, 2023 8:34am Oct 5, 2023 8:34am
Quoting Yngwie
Sold 1.2153 SL 1.2163
smart

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