Cable Update (GBPUSD)

Again for 15 pips

...last 1hr and 4hr (gmt+2 feed) closed bearishly - 1hr a bearish engulf x7 thrust candle. Testing prev 1hr sw lo zone down to current dly lo/top of a 4hr part of a big wide prev 1hr/4hr sw lo zone = prev supp = pot supp that extends to y/day's 2640 lo.

4hr/1hr below

GU

Hi Dantpm.

We have remained within the confines of the diamond formation for the past seven weeks, marking the longest and tightest range in recent memory.

Historically, ranging markets exhibited slightly wider movements, but the current scenario is notably different.
Uncertainty looms regarding the price's potential direction of a breakout or a false break.

This formation suggesting that buyers and sellers are in equilibrium.
With spikes are a concern when price break out of this formation, necessitating the use of wide stop-loss orders strategically placed.

Presently, the situation with GU leaves us in a vulnerable position, akin to a sitting duck.
And to note that, not all diamond patterns result in a significant breakout, so exercise caution




Volitality in one year period

Compression ongoing

Short goldi for 10 pts

reminds me about a pattern
guess its called butterfly or something like that

Anyway, can go both ways
Usually market moves where the most damage is taken
My personal perception is that we are going to see a move taking out both higher and lower levels.

I'm seeing a bullish day today and also this week for EUR/USD. Possible target: 1.10. Maybe more.
No more shorts. Only adding longs, and holding...

Who knows what the tentative monthly pivot for February is? I'm just not in the mood to calculate anything.

If you would be so kind, please comment on whether I have properly interpreted at least one aspect of your trading style:
You look at the 1 hr chart, determine a 1 hr bias then check the 1, 5 and 15 min charts at the start of the next hour to ensure that there is a confirmation of the bias prior to entering a trade.

Edit: To be more complete, to determine the 1 hr bias you use PA, Fibonacci and S&R levels.

Hi. Probably a more accurate description would be: I trade 2 t/f combinations, 1min/5min/30min/2hr (on 2 x screens to the left of my 1hr/4hr supp/res charts screen) -and- 3min/15min/1hr/4hr (on 2 x screens to the right of my 1hr/4hr supp/res charts screen.) Using the former as an example; I look to see what the overall conditions are (measured by 3 candle fractal swing analysis) on the 5min + t/f, and then if it is/they are trending, prefer (but not exclusively) to look for pullback entries. So for eg a shallow pullback in a 5min/30min (+) trend might come back to a 5min pot sbr/rbs zone and time entry with 1min. A deeper p/back might see price come back to a 30min pot sbr/rbs zone and time entry with 5min, (as long as 2hr too is tending) etc etc... I do also trade against any trend that may be present on howsoever may t/f's - @ pot supp/res on 30min + (preferably 1hr+ pot supp/res) and can get involved with these (based on the set-ups that may develop on t/f's) from 1min trigger upwards. The 'set-ups' I trade for market entry on whatever t/f trigger are a number of repeating set-ups (re my edge,) based on osc div/extr's (and some other stuff) that need to be confirmed by PA to warrant a market entry. It is the close of a candle on the particular t/f that I enter the market on. I enter whichever t/f combo sets up best. So effectively I trade repeating patterns within a rule-based methodology. This is my edge.

Long GU 1.2685

TP 40pips

SL open

I stay away from GU today.

and boom.

results.

-2.35% total risk if my last pending stop order taken --- myCable Updated All-in for the bear

I'm in EURAUD trade. But it barely moved during news release.
Lmao hahahah, was expecting bigger effect but it didn't move.

update1
GU H1 trendlines

nothing changed....

Numbers not looking good will try some longs on gold….huge potential for daily to go big green…
area to buy 2034-37

Just went short 2701. TP below 2600. I have a tight SL just in case price goes crazy.

Some pump before a dump.. not been looking at the chart today PA quite maybe a dovish FOMC is on the cards as recent data hasn’t been too good either. Will look to trade after the announcement

Waste of time..