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Cable Update (GBPUSD)

  • #793,261
  • Nov 28, 2023 5:41am Nov 28, 2023 5:41am
Quoting Fardeen1209
1hr looks like Wyckoff to me.
https://school.stockcharts.com/doku....wyckoff_method
it is wonderful that the method is so clear, simple and safe
  • #793,262
  • Nov 28, 2023 5:41am Nov 28, 2023 5:41am
It appears to be weakness in DXY and strength in EU that is pushing GU up.
  • #793,263
  • Nov 28, 2023 5:52am Nov 28, 2023 5:52am
Quoting maxi444
{quote} https://school.stockcharts.com/doku....wyckoff_method it is wonderful that the method is so clear, simple and safe
Indeed it is a simple method.
But personally the problems comes when i need to remember the exact name of each phase. I am very weak in remembering name and stuffs.
But once i learn the concept and how it works, i'm good with it. Just need to revisit the pdf from time to time to keep up with the name
More time in the market, does not mean you trade better!
  • #793,264
  • Nov 28, 2023 5:54am Nov 28, 2023 5:54am
Quoting Moty
Come on {image}
Hi, I've had a couple of shorts myself and it certainly doesn't look unreasonable from here. Asian hi was basically a rebuffed attempt to get north of y/day's hi and the last hi was a rebuffed attempt to get north of Asian hi. Also it still looks very rising wedge on 4hr/dly?
Good luck.

1hr below
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Trader with an Edge.
  • #793,265
  • Nov 28, 2023 5:59am Nov 28, 2023 5:59am
cable holding the 1.26 lvl....i like buying the dips ..targeting the 1.34 to 1.36 lvl.
  • #793,266
  • Nov 28, 2023 6:05am Nov 28, 2023 6:05am
Upside fibs of main swing hi's from and including 3142, - 2038 move below;

2643 85.4% 2747-2038
2687 85.4% 2800-2038
2720 61.8% 3142-2038
2769 76.4% 2995-2038
2857 85.4% 2995-2038
2881 76.4% 3142-2038
2981 85.4% 3142-2038

130% of 6mth amr traveled by price so far in these last days of November. Mthly R3 already breached to upside.

Price still in the aforementioned 1hr pennanty thing.
Trader with an Edge.
  • #793,267
  • Nov 28, 2023 6:07am Nov 28, 2023 6:07am
3 hours from now there will some important data.
I want to see a drop like the drop i have marked
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yes yes yes
  • #793,268
  • Nov 28, 2023 6:12am Nov 28, 2023 6:12am
Quoting Moty
3 hours from now there will some important data. I want to see a drop like the drop i have marked {image}
1246? As much as I’d love to see the pound drop I can’t see it happening easily we have a 126, 12530 and then 12480 to crack. Should we break below 125. Things get a bit clearer as different support and resistance zones will map out
Insane in the Brain..
  • #793,269
  • Nov 28, 2023 6:15am Nov 28, 2023 6:15am
Quoting BeeTogether
{quote} 1246? As much as I’d love to see the pound drop I can’t see it happening easily we have a 126, 12530 and then 12480 to crack. Should we break below 125. Things get a bit clearer as different support and resistance zones will map out
Hi, agree, and for the bears I suspect getting south of this 1hr pennant/consolidation as well as below current dly lo will give some encouragement?
--------------------------
...2569-79 the 1st fib cluster to downside, a 3 fib cluster, assuming 2444/45 holds as the tops of the moves to which these fibs relate, then 2540-35 another 3 fib cluster.
Trader with an Edge.
  • #793,270
  • Nov 28, 2023 6:17am Nov 28, 2023 6:17am
[quote=Headland;14669925]{quote} Hi, agree, and for the bears I suspect getting south of this 1hr pennant/consolidation as well as below current dly lo will give some encouragement?[/quote
exactly! The other view is a small data release could let the MM open the trap door like it did a few weeks ago.
Insane in the Brain..
  • #793,271
  • Nov 28, 2023 6:22am Nov 28, 2023 6:22am
Bulls need PA stays above 1.2634.
  • #793,272
  • Nov 28, 2023 6:24am Nov 28, 2023 6:24am
  •  Oylux
  • | Joined Nov 2023 | Status: Natures Best. Nig 🇳🇬 | 66 Posts
Quoting MrFanciful
{quote} I will...My physical gold that I stack will be far more valuable that the fiat currency you might be "winning" here.

yay . Finally you have something positive going on . This is good news I’m happy for you atleast always think of that when trading makes you sad
  • #793,273
  • Nov 28, 2023 6:28am Nov 28, 2023 6:28am
In long-1.2622...tp-1.2648

I don't know y PPL in this group are so bearish on GU
I still don't see any signs of bearishness, it's just a minor pullback, consolidating to make new daily high
  • #793,274
  • Nov 28, 2023 6:36am Nov 28, 2023 6:36am
Gbpjpy possibly long at 187.047 when price gets there. Tp 188.160
  • #793,275
  • Nov 28, 2023 6:43am Nov 28, 2023 6:43am
Get ready for 10 pips move, one side or the other. Sth. has to happen,- my stats say. Drop takes too long now in that zone. I'm personallylong from 1.2619 and 1.2621 but only for scalping.

Edit: For weekly: looks like rising triangle, so probably we see ADR weekly expanding to the top. GBP/USD shall not pass 1.2610 to downside for keeping formation intact. Top of triangle at 1.2637. News in more than 2 hours so some more up and down we will probably see.
  • #793,276
  • Nov 28, 2023 6:51am Nov 28, 2023 6:51am
Quoting JackintheBox
Drop takes too long now in that zone.
daily PP
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  • #793,277
  • Nov 28, 2023 6:56am Nov 28, 2023 6:56am
Quoting cablekingdom
In long-1.2622...tp-1.2648 I don't know y PPL in this group are so bearish on GU I still don't see any signs of bearishness, it's just a minor pullback, consolidating to make new daily high

im bullish as well, but i think the bearishness comes from the day chart, back in september (5th?) price fell quite rapidly from these levels.
If supply is your thing then its logical to want to go short, but there should be some confirmation on LFs as well.

and some are just already committed so..........

having said that, H1 is struggling to take out 2637-2642 zone.
its tried three times now.
in wondering about yourself, you forgot what you came here to be part of
  • #793,278
  • Nov 28, 2023 7:07am Nov 28, 2023 7:07am
Ty mister darvas
2 15+ pips trades won
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yes yes yes
  • #793,279
  • Nov 28, 2023 7:07am Nov 28, 2023 7:07am
Quoting knkie
{quote} im bullish as well, but i think the bearishness comes from the day chart, back in september (5th?) price fell quite rapidly from these levels. If supply is your thing then its logical to want to go short, but there should be some confirmation on LFs as well. and some are just already committed so.......... having said that, H1 is struggling to take out 2637-2642 zone. its tried three times now.
12640-12530 a deep 110 range.
Insane in the Brain..
  • #793,280
  • Nov 28, 2023 7:11am Nov 28, 2023 7:11am
i closed my long, will wait for the news and then enter
Gold is big time bearish for me, im shorting it here
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