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Cable Update (GBPUSD)

  • #810,421
  • Feb 19, 2024 10:24am Feb 19, 2024 10:24am
...there is a repeating pattern of 1hr bullish hidden div which could stay valid (as a pattern,) on any deeper drop, so long as above 2549 (x on chart below.) Of course there is no next higher t/f (in this t/f combo - 4hr) uptrend to enter after a p/back so a lo-probability pattern.

4hr below
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Trader with an Edge.
  • #810,422
  • Feb 19, 2024 10:41am Feb 19, 2024 10:41am
Quoting Wavegarrick
{quote} The tide is turning on bulls folks. Unless we have a sustained daily close above 1.2650 bulls have their work cut out for sure. Bullish price action does not happen in a jiffy and is carved out in daily, weekly and monthly higher lows and highs and vice versa for bears. We are in a equilibrium and the first few months of the year is never easy to trade. I am in sell trades as my technical analysis points towards bears. Touch and go at the moment, 1.2650 crux for cutting shorts. Have a great week, Cheers. {image}
Shaky start for the year. My sell trades working out with all remaining trades locked at breakeven and some and price must do what it has to. I have bullish hints from a 4 hr perspective but not guaranteed. US bank holiday does not help the situation much.
Trade safe.
Cheers.
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Trade to trade another day
  • #810,423
  • Feb 19, 2024 10:50am Feb 19, 2024 10:50am
Quoting genadi
{quote} Wave, will you make 300 EUR next week in forex?
Maybe , maybe not ...
  • #810,424
  • Feb 19, 2024 10:54am Feb 19, 2024 10:54am
Quoting Headland
...rangy - currently bullish on 4hr 4hr below (with 10/20/40 ema crosses graphic.) {quote} Hi, yeh agree it was 'provocative' so well done for not responding to it lol - makes for a trading-focused peaceful thread! What amazes me though is how many posts people read of folk they have on ignore, I mean in the 1st instance Pat has DrDave on ignore, etc etc...lol! Anyways, bygones..... {image}
, I love the drama on this thread, I think sometimes when you ignore folks it's not to ignore their posts but stop them posting on your own thread, that's why I did it...
  • #810,425
  • Feb 19, 2024 11:22am Feb 19, 2024 11:22am
Quoting Jolita
Waiting for the free fall...recession is the key word
I think recession in US won't be declared official before presidential selection. Apart from that, every other economy is in recession right now and even main stream propaganda agrees. The problem is as you can see that the market doesn't really care if UK or EU or Japan or China is in recession, they're waiting for the US.

This freak show will probably continue. The only thing we can hope for is that the CB's will start cutting rates in a few months, so we get some volatility back, especially when Fed starts cutting (May 1st).
  • #810,426
  • Feb 19, 2024 11:37am Feb 19, 2024 11:37am
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yes yes yes
  • #810,427
  • Feb 19, 2024 12:01pm Feb 19, 2024 12:01pm
Short GU 1.2590

TP 30pips

SL open
  • #810,428
  • Feb 19, 2024 1:00pm Feb 19, 2024 1:00pm
lol just seeing the funniest price action on Audusd, it just jumps up and down on 0.2 pips. Kinda rhytmic too
You have an IQ lower than 90 if you interact with this user.
  • #810,429
  • Feb 19, 2024 1:17pm Feb 19, 2024 1:17pm
Quoting ChiForex
Can start selling now and again if reaches to 1.2670s, low target starts at 1.2540s
Brief & to the pointPrice was 1.2625, Tp still on...while bulls buying for some pips vs high risk, when a blind sell is a guaranteed big profit, sooner or later. Some just like to always make their lives harder
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #810,430
  • Feb 19, 2024 1:23pm Feb 19, 2024 1:23pm
...the upside pullback of the day's main down-move from that prev 30min minor sw lo zone, (now a prev 1hr sw lo zone,) is challenging the prev 1hr sw lo zone = prev supp = pot sbr, @ the Asian lo

1hr below
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Trader with an Edge.
  • #810,431
  • Feb 19, 2024 1:36pm Feb 19, 2024 1:36pm
Quoting Ferna
lol just seeing the funniest price action on Audusd, it just jumps up and down on 0.2 pips. Kinda rhytmic too
if watched cadjpy stuck at a support level for 4 four hours moving in 1-5 pips maddening
I need only five pips to be in profits for 5 hours if this aint patience idk what is
  • #810,432
  • Feb 19, 2024 1:51pm Feb 19, 2024 1:51pm
Quoting Godspromise
{quote} if watched cadjpy stuck at a support level for 4 four hours moving in 1-5 pips maddening I need only five pips to be in profits for 5 hours if this aint patience idk what is
yeah PA sucks today, i didn’t even bother to make an analysis. So far only my old trades of GBPCHF move up a few pips.
the others seem to be driven by speculative knee jerks.

Seems like the south african rand was the trade for today, rest of market at a standstill.
5 pips is a sandwich i guess? Could baked some bread though
i’ve seen this kind of mondays/holidays before though, i think they are worth to endure to recognize them in the future
You have an IQ lower than 90 if you interact with this user.
  • #810,433
  • Feb 19, 2024 2:10pm Feb 19, 2024 2:10pm
Quoting Ferna
{quote} yeah PA sucks today, i didn’t even bother to make an analysis. So far only my old trades of GBPCHF move up a few pips. the others seem to be driven by speculative knee jerks. Seems like the south african rand was the trade for today, rest of market at a standstill. 5 pips is a sandwich i guess? Could baked some bread though i’ve seen this kind of mondays/holidays before though, i think they are worth to endure to recognize them in the future
yeah bro live and learn
  • #810,434
  • Feb 19, 2024 2:18pm Feb 19, 2024 2:18pm
Quoting Whatevs
{quote} I think recession in US won't be declared official before presidential selection. Apart from that, every other economy is in recession right now and even main stream propaganda agrees. The problem is as you can see that the market doesn't really care if UK or EU or Japan or China is in recession, they're waiting for the US. This freak show will probably continue. The only thing we can hope for is that the CB's will start cutting rates in a few months, so we get some volatility back, especially when Fed starts cutting (May 1st).
Sure it will continue in to 2025.
Just watched a few videos of Gary Stevenson, one of the top traders in the world.
He is predicting rate cut this year to 4 or 3%, house prices continue to rise through the. roof in 2025, as the rich has too many assets, while the middle class is getting poorer.
We are in a global crisis.
  • #810,435
  • Feb 19, 2024 2:20pm Feb 19, 2024 2:20pm
3. 75 % done today.
Intraday only.
  • #810,436
  • Feb 19, 2024 2:36pm Feb 19, 2024 2:36pm
Quoting navk
3. 75 % done today.
you were buying at 1.26 yet still managed to turn a profit?
  • #810,437
  • Feb 19, 2024 2:43pm Feb 19, 2024 2:43pm
Quoting billGU
{quote} you were buying at 1.26 yet still managed to turn a profit?
yes.
Before buying, I was selling and booked profits.
Now on buy also, I booked profits.
There are still some open buy trades.
Intraday only.
  • #810,438
  • Feb 19, 2024 2:45pm Feb 19, 2024 2:45pm
Quoting navk
{quote} yes. Before buying, I was selling and booked profits. Now on buy also, I booked profits. There are still some open buy trades.
post positions?
  • #810,439
  • Feb 19, 2024 2:45pm Feb 19, 2024 2:45pm
Quoting billGU
{quote} you were buying at 1.26 yet still managed to turn a profit?
This kinda funny
  • #810,440
  • Feb 19, 2024 2:46pm Feb 19, 2024 2:46pm
Quoting navk
{quote} yes. Before buying, I was selling and booked profits. Now on buy also, I booked profits. There are still some open buy trades.
Well done Navk, as you predicted Asia went for 12630. Wish you the best.
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