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Cable Update (GBPUSD)

  • #804,381
  • Jan 23, 2024 3:12am Jan 23, 2024 3:12am
...rising wedge on 4hr?

4hr with 10/20/40 ema crosses graphic below
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Trader with an Edge.
  • #804,382
  • Jan 23, 2024 3:12am Jan 23, 2024 3:12am
Only trade today.
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#Stay blue. /swinger/scalper/
  • #804,383
  • Jan 23, 2024 3:19am Jan 23, 2024 3:19am
Quoting Yngwie
Sold 1.2734
Quoting Yngwie
{quote} ok last trade today add 1.2745 SL 1.2765
Closed 31p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #804,384
  • Jan 23, 2024 3:24am Jan 23, 2024 3:24am
Quoting _BBKing_
{quote} I admire your nerves in holding those longs. ok you scaled them out, but the overall hourly pattern is telling potential explosion down. I guess I never saw a rising wedge broken upward maybe on cable it can

Dear BB King,
Thanks for your view and excellent observation of rising wedge pattern.

Regarding the continuation pattern, the ascending wedge will indeed maintain an upward slope; however, in this particular instance, the prevailing trend is upward.

When employed as a reversal pattern, the ascending wedge will display an upward slope in alignment with the trend.
I concur with your observation that, regardless of its nature, be it a reversal or continuation, rising wedges typically indicate a bearish outlook.

Nevertheless, in this scenario, the possibility of a false breakout exists, orchestrated for a liquidity sweep above (LQ).
This mimics the maneuvers of a faux market, seizing limit orders (Stop Loss) above as liquidity before swiftly moving downward upon completion.
It's akin to grabbing a quick lunch and making a hasty exit.

This is precisely why I've coined the term CPLQ, signifying Compression Liquidity Setup.
Subsequent to the extraction of liquidity, the price is expected to reverse, aligning with the rising wedge pattern.
Despite the wedge illustrating upward price movement, the consolidation of energy suggests an impending breakout.


Trade safe Bro, the above is just my newbie observation.
Thanks again for your input.

PAT

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #804,385
  • Jan 23, 2024 3:27am Jan 23, 2024 3:27am
Small sell. Short 1.2730 SL 1.2735
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #804,386
  • Jan 23, 2024 3:28am Jan 23, 2024 3:28am
Quoting Vincent1
Flag with false breakout ??? {image}
Thanks for the chart.
Giving me oppurtunity to relook at the set up.

Keep it up Bro. I appreciate your chart

I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #804,387
  • Jan 23, 2024 3:29am Jan 23, 2024 3:29am
...updated

1hr below
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Trader with an Edge.
  • #804,388
  • Jan 23, 2024 3:42am Jan 23, 2024 3:42am
Another gut feeling us30 signal.. feels like its brewing next leg up… opened longs will take anything above 38100
Extreme gut feeling trader
  • #804,389
  • Edited 4:31am Jan 23, 2024 3:46am | Edited 4:31am
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because yesterday found shakeout
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so ... down move now in sideways area = a part of price manipulation
because smart money / big trader = show up trend (as today direction in tf m15)
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GBPUSD , price up or down depend on intrest and needs from BoE and FED
The Average Discount Everything
  • #804,390
  • Jan 23, 2024 3:52am Jan 23, 2024 3:52am
...messy/rangy picture continues on dly. 2828-2610 the 1mth+ range, with 1st downside break to 2596 failed, (bounce there.) Difficult for those with higher t/f/longer-term positions right now?

dly below
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Trader with an Edge.
  • #804,391
  • Jan 23, 2024 3:56am Jan 23, 2024 3:56am
Quoting Moty
{image}
took 100 $ on that one
now long
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yes yes yes
  • #804,392
  • Jan 23, 2024 4:07am Jan 23, 2024 4:07am
Quoting 7154Superman
{quote} What else is there to do that makes potential life changing income within 5-10 years without having to work hard like starting up and managing a business? My oldest brother owns a multi million dollar construction business. I could build a massive taxi fleet. My other brother is a truck driver and fire fighter, and is looking to get into local legislation and politics. My dad used to own construction business, sold it, and now works for my oldest brother in the office and also volunteers for an emergency response team to help people devastated...
Never would have guessed you are the loser of the family. With the delusional nonsense you carry-on with it's a complete surprise.
Congratulations ScalaFX for coming out of the closet!
  • #804,393
  • Jan 23, 2024 4:23am Jan 23, 2024 4:23am
Quoting nubcake
{quote} Never would have guessed you are the loser of the family. With the delusional nonsense you carry-on with it's a complete surprise.
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  • #804,394
  • Jan 23, 2024 4:46am Jan 23, 2024 4:46am
Lol, the only thing people with abilities can do is make bots, apparently.

Hey guys! Have some shitty pdf's I found in the toilet, and memes! Let's be buddies!
Congratulations ScalaFX for coming out of the closet!
  • #804,395
  • Jan 23, 2024 4:52am Jan 23, 2024 4:52am
Quoting voeltoez
{quote} add short 2745
close all.short today 2715 for 90pips..
  • #804,396
  • Jan 23, 2024 5:00am Jan 23, 2024 5:00am
...more downside with > 61.8% of the day's current lo-hi given back @ current p/back lo which is testing the 4hr asc t/line - the effective rising wedge bottom on that t/f. 1hr bear thrust close just now. Anyone need any fibs? - I've got plenty here!

1hr below
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Trader with an Edge.
  • #804,397
  • Jan 23, 2024 5:05am Jan 23, 2024 5:05am
Quoting Pat Chiko
{quote} GU This setup could potentially lead to a CPLQ formation, with the price making a final push to absorb liquidity. Keep an eye on the price action when it retests the key zones that could act as liquidity pools for market makers to accumulate further. Pay close attention to the 62% Fibonacci retracement level, the two Order Blocks, and the RSF zone. {image} {image}
GU

another upmove to add position.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #804,398
  • Jan 23, 2024 5:07am Jan 23, 2024 5:07am
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yes yes yes
  • #804,399
  • Jan 23, 2024 5:08am Jan 23, 2024 5:08am
bear is woke up and unstoppable..1.2650 is target low today
  • #804,400
  • Jan 23, 2024 5:14am Jan 23, 2024 5:14am
Quoting Pat Chiko
{quote} Dear BB King, Thanks for your view and excellent observation of rising wedge pattern. Regarding the continuation pattern, the ascending wedge will indeed maintain an upward slope; however, in this particular instance, the prevailing trend is upward. When employed as a reversal pattern, the ascending wedge will display an upward slope in alignment with the trend. I concur with your observation that, regardless of its nature, be it a reversal or continuation, rising wedges typically indicate a bearish outlook. Nevertheless, in this scenario,...

I should find the password for an old journal I had, where I settled a page to put all the strange patterns and price behaviours on it. My mind tells me that cable is a killer on the upside and somewhere in my brain there is a record of such a development already occurred in the past killing everybody going up then killing those who still were alive moving down. If I’m right, it was a very similar scenario, with a rising wedge, near important resistance. That is the fact, price still not reached the main resistance….
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