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Cable Update (GBPUSD)

  • #790,881
  • Nov 17, 2023 1:37am Nov 17, 2023 1:37am
the actual number still hier than the previous one
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short trump and go long the deepstate
  • #790,882
  • Nov 17, 2023 1:37am Nov 17, 2023 1:37am
Quoting josip
so and what now....lower down?? M30 {image}
I think it will be 1.2310 target around - someone missed the train before, currently uptrend violation, that's why it goes up and down a bit. But it will break to downside, I'm quite sure. I wait, no trade yet. Let's see if the unusual swings today going on and MACD and momentum indi traders can make a fortune (again).
  • #790,883
  • Nov 17, 2023 1:40am Nov 17, 2023 1:40am
looks bled dry, figures were weak but not completely weak. cautious buying opportunity...
trading is like dancing, don't think and just listen to the music!
  • #790,884
  • Nov 17, 2023 1:40am Nov 17, 2023 1:40am
could bounce on the hourly from this support since wasnt a bad number just a bad number against a wild ass forcast guess
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short trump and go long the deepstate
  • #790,885
  • Nov 17, 2023 1:45am Nov 17, 2023 1:45am
first we need to observe our prerequisites which is “waiting” after I took profit two days ago, I did not trade gu yesterday because there was no setup but today is a good day to trade gu if the conditions align.

Great set up for gu short, if the H4 candle close below the resistance zone below.
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My telegram: https://t.me/avidforex
  • #790,886
  • Nov 17, 2023 1:47am Nov 17, 2023 1:47am
Quoting Zebi
could bounce on the hourly from this support since wasnt a bad number just a bad number against a wild ass forcast guess {image}

This is just one of those examples where the market reaction simply used the news as a catalyst to react!
The news suggests that the UK economy is still tightening. Reduced chances of inflation so less pressure on the UK to raise rates. Nothing about lowering rates so at best the news is neutral.
To have almost every US$ spike dramatically simply doesn't make sense from a data perspective.
Where it goes from here, IMHO, depends on how retail traders react. Too many try to 'catch the bottom' and the bottom keeps dropping.

This is where the 'computers that manage the market' have a HUGE advantage over retail traders!
  • #790,887
  • Nov 17, 2023 1:53am Nov 17, 2023 1:53am
Y's low is broken
The way to 1.23400 is secured
It can go to a pull back at 1.24000
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yes yes yes
  • #790,888
  • Nov 17, 2023 1:54am Nov 17, 2023 1:54am
Quoting dantpm
{quote} This is just one of those examples where the market reaction simply used the news as a catalyst to react! The news suggests that the UK economy is still tightening. Reduced chances of inflation so less pressure on the UK to raise rates. Nothing about lowering rates so at best the news is neutral. To have almost every US$ spike dramatically simply doesn't make sense from a data perspective. Where it goes from here, IMHO, depends on how retail traders react. Too many try to 'catch the bottom' and the bottom keeps dropping....
use what market makers can never use with their large volumes and turn it to your advantage: being able to move like an agile little mouse or hummingbird;-)
trading is like dancing, don't think and just listen to the music!
  • #790,889
  • Nov 17, 2023 1:58am Nov 17, 2023 1:58am
Quoting Moty
Y's low is broken The way to 1.23400 is secured It can go to a pull back at 1.24000 {image}
It's just a fake break. It will push up later on London and NY both sessions.
  • #790,890
  • Nov 17, 2023 1:59am Nov 17, 2023 1:59am
Quoting martinez1
{quote} Your going back in time to trade....
already hit sl … done for FRYDAY …
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Extreme gut feeling trader
  • #790,891
  • Nov 17, 2023 2:03am Nov 17, 2023 2:03am
Stop hunt, GU should continue the bullish move today and next week
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  • #790,892
  • Nov 17, 2023 2:06am Nov 17, 2023 2:06am
Gold selling down to 1980, and then hits support. Moves back up upwards
  • #790,893
  • Nov 17, 2023 2:21am Nov 17, 2023 2:21am
Quoting hans91
{quote} hi sorry, i missed my typing words. i mean your max target for this bullishness before big drop will be happening again? do you see 1.3 will return again according to your analysis for medium to long term target? Thanks.
See this is why i dont predict. It broke bearishly from the wedge, so i have entered a short position with another pending.
  • #790,894
  • Nov 17, 2023 2:27am Nov 17, 2023 2:27am
Short gbpcad while I’m waiting for gu
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  • #790,895
  • Nov 17, 2023 2:35am Nov 17, 2023 2:35am
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Ε. and BP 5' --- Short in both with SL at BE. I see the possibility of a rebound......

Watching carefully . . . .

  • #790,896
  • Nov 17, 2023 2:39am Nov 17, 2023 2:39am
update1 M30 and H4

the technical assumption (the falling wedge - green) was correct and now we can test
the level of approximately 1.2395-1.24.05, staying below it = short

besides, we got a rising wedge (blue lines), let's see what we can do...
it looks bearish....pic2 - rising wedge (red line broken)
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Trendlines H1,H4, SMC
  • #790,897
  • Nov 17, 2023 2:44am Nov 17, 2023 2:44am
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yes yes yes
  • #790,898
  • Nov 17, 2023 2:48am Nov 17, 2023 2:48am
Come on
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yes yes yes
  • #790,899
  • Nov 17, 2023 2:51am Nov 17, 2023 2:51am
10 pips sl
15 pips to
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yes yes yes
  • #790,900
  • Nov 17, 2023 3:01am Nov 17, 2023 3:01am
to me this is just a regular flat in the making, it can extend to 1.235 but I think the dollar is set up for another drop across the board, which would push GU back to the highs. You can see it in other usd pairs. EU made an expanding flat and got rejected at a 4 hour order block. AU and NU finished their correction as well and are heading to break the highs imo.
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