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Cable Update (GBPUSD)

  • #810,361
  • Feb 19, 2024 4:49am Feb 19, 2024 4:49am
Price trying to retest 1.26

kinda hanging in the middle now
Exhausted
  • #810,362
  • Edited 5:11am Feb 19, 2024 4:53am | Edited 5:11am
Quoting Whale
Buy only today.
Daily candle should be bull candle but anything may still happen now. Don't really see any presence of strong bulls.
Buying strength faded after Asian
Exhausted
  • #810,363
  • Feb 19, 2024 4:54am Feb 19, 2024 4:54am
Big money will be back in March it seems...
  • #810,364
  • Edited 5:10am Feb 19, 2024 5:00am | Edited 5:10am
...intraday is still overall bullish so far, bulls are trying. Not the most exciting London session so far, but one good sell and one decent buy so far. 1st upside b/o of Asian hi was false to 1hr (so far,) as supply hit the market @ 61.8% of the 2687-2535 move. Asian lo/current dly lo remains intact.

1hr below
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Trader with an Edge.
  • #810,365
  • Feb 19, 2024 5:05am Feb 19, 2024 5:05am
Very tight range this London session again. Not sure if we’ve seen today’s low as there seems to be decent support at 12610. Bulls looking more likely to take control without a liquidity grab. US on holiday too so won’t see much difference to the PA I think.
Insane in the Brain..
  • #810,366
  • Feb 19, 2024 5:06am Feb 19, 2024 5:06am
Yellow line is EURUSD, Blue GBPUSD, Turquoise Gold and the blue-red line the lorentzian moving average price.
Nice demonstration of how when these align in direction you get bigger moves than when they don't align.


Edit: I believe I have finally figured out how to use this lorentzian indicator properly.
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  • #810,367
  • Feb 19, 2024 5:15am Feb 19, 2024 5:15am
Quoting BeeTogether
Very tight range this London session again. Not sure if we’ve seen today’s low as there seems to be decent support at 12610. Bulls looking more likely to take control without a liquidity grab. US on holiday too so won’t see much difference to the PA I think.
Very probably. USD and CAD holiday... wouldn't expect much, if any price movement.
  • #810,368
  • Feb 19, 2024 5:22am Feb 19, 2024 5:22am
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yes yes yes
  • #810,369
  • Feb 19, 2024 5:49am Feb 19, 2024 5:49am
Been holding usdjpy trade from last night no head way looks like I have to wait until new york session for the 50 pip push
  • #810,370
  • Feb 19, 2024 5:55am Feb 19, 2024 5:55am
Quoting Godspromise
Been holding usdjpy trade from last night no head way looks like I have to wait until new york session for the 50 pip push
NY on holiday mate might not move at all
Insane in the Brain..
  • #810,371
  • Feb 19, 2024 5:59am Feb 19, 2024 5:59am
...,you can see how pt 5 on the bearish exp tri developed on 30min...dropped down to 5min to time entry on that bearish thrust engulf x 6 candle close....Pt 4 is also a pt 4 in a wider 1hr bearish exp tri too, and pt 5 could firm up into a pt 5 on that 1hr t/f pattern too. Liquidity will begin to dry up though re U.s B/H, or at least diminish, and could affect the probability of a downside continuation - ie target is a fib ext of move 3-4. Just a scalp for me.?

30min below
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Trader with an Edge.
  • #810,372
  • Feb 19, 2024 6:02am Feb 19, 2024 6:02am
Pound Yen, are you the damn one back home?
You can do whatever you want after that! Today's daily allowance is enough.
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  • #810,373
  • Feb 19, 2024 6:06am Feb 19, 2024 6:06am
short, small, for not falling asleep
reason.., if not above 1.2620th, probably below 1.26th.., to PPs
M1, ichi
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let's watch 1.2610th
dolce vita
  • #810,374
  • Feb 19, 2024 6:09am Feb 19, 2024 6:09am
...demand then @ the prev 1hr minor sw lo zone = pot supp with 3 fib cluster and WP confluence

1hr below
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Trader with an Edge.
  • #810,375
  • Feb 19, 2024 6:16am Feb 19, 2024 6:16am
The pound-dollar movement is extremely narrow, but isn't it dead?
Technical is only from a low level perspective.

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  • #810,376
  • Feb 19, 2024 6:23am Feb 19, 2024 6:23am
Quoting BeeTogether
{quote} NY on holiday mate might not move at all
maybe so but I believe the pip move will be slow but gradual because there isn't much backing currently for the dollar strength so today bears usdjpy bull gbpusd eurusd
  • #810,377
  • Feb 19, 2024 6:30am Feb 19, 2024 6:30am
Quoting dantpm
Yellow line is EURUSD, Blue GBPUSD, Turquoise Gold and the blue-red line the lorentzian moving average price. Nice demonstration of how when these align in direction you get bigger moves than when they don't align. Edit: I believe I have finally figured out how to use this lorentzian indicator properly. {image}
Now add EURGBP and you can see from the triad which pair will be preferred for "bigger moves".
To free Gazans of Hamas, use whatever it takes.
  • #810,378
  • Feb 19, 2024 6:44am Feb 19, 2024 6:44am
Quoting DrDave
{quote} Now add EURGBP and you can see from the triad which pair will be preferred for "bigger moves".
It isn't very often that EURGBP is the 'best choice' or most profitable, especially when you add in the higher spreads!
You have to align all the price scales to approximately a 50 point spread and then it become apparent where the 'better deal' is located.
  • #810,379
  • Feb 19, 2024 6:48am Feb 19, 2024 6:48am
Quoting dantpm
{quote} It isn't very often that EURGBP is the 'best choice' or most profitable, especially when you add in the higher spreads!
Indeed, EURGBP is rarely the preferred choice from that triad. But there are times when the other two pairs are hardly moving and EURGBP becomes the preferred pair that the negatives of trading it become inconsequential.
To free Gazans of Hamas, use whatever it takes.
  • #810,380
  • Feb 19, 2024 6:55am Feb 19, 2024 6:55am
seeing the downtrend forming up come on usdjpy and cadjpy
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