Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#810,721
Feb 21, 2024 1:25am Feb 21, 2024 1:25am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

G/M, big bullish-bodied > 30day adr dly candle y/day, it's hi encountering supply in the 4hr and dly parts of the prev 1hr/4hr/dly sw hi zone that extends up to 2687, = prev res, = pot res. This led to a meaty downside p/back. Today so far...Asian session up then down, testing the Asian/current dly lo zone and bounced, and early London has continued this bounce back up - for now at least. Price remains in the Asian pip range in early London trading.

1hr below

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Trader with an Edge.

#810,722
Feb 21, 2024 1:33am Feb 21, 2024 1:33am

HaLBot
Joined Jan 2016 | Status: Trader | 5,200 Posts

Quoting dantpm

Disliked

{quote} Janet Yellin has been whining every time the BOJ intervenes lately. Not sure that it means anything...

Ignored

Couldn't resist

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Don't Leave Money on the Table

#810,723
Feb 21, 2024 1:37am Feb 21, 2024 1:37am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

...price remains in that overall 2500-2828 multi-week/month,328pip dly t/f range. From the bounce @ 2519 it has already gone above the 2673 midpoint of the range to reach 2687. 4hr and 1hr are probably in general uptrends, and dly is recently bullish following the HL @ 2535, within that range. Intraday is pretty neutral so far.

4hr below (with 10/20/40 ema crosses graphic.)

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Trader with an Edge.

#810,724
Feb 21, 2024 1:46am Feb 21, 2024 1:46am

gespiri
Joined Oct 2011 | Status: Lost.... | 2,384 Posts

Quoting HaLBot

Disliked

{quote} Couldn't resist {image}

Ignored

Is that the 4 expressions of Janet during the elite orgies?

Lost....

#810,725
Feb 21, 2024 1:47am Feb 21, 2024 1:47am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

...any decisive/sustained break above the 2500-2828 dly t/f range's 2673 midpoint, and that 2687 last H within that range, could see bulls atttempt a challenge on 2828, the range hi?

dly below

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Trader with an Edge.

#810,726
Feb 21, 2024 1:53am Feb 21, 2024 1:53am

navk
Joined Oct 2010 | Status: Trader | 21,478 Posts

4 % Done.

Going to sleep now.

Will get up later in London.

Intraday only.

#810,727
Feb 21, 2024 1:57am Feb 21, 2024 1:57am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

...could be a bullish piercing pattern candle close on 1hr in a few mins?

EDIT: Yeh it did but 5min closed bearish - prefer it when t/f's below close bullish as well. If I was gonna play this pattern/candle I'd wait for the p/back to reach the close of it again for entry as long as price stays within it's body.

Trader with an Edge.

#810,728
Feb 21, 2024 1:59am Feb 21, 2024 1:59am

dantpm
Joined Aug 2022 | Status: Trader | 4,859 Posts

Quoting Headland

Disliked

...could be a bullish piercing pattern candle close on 1hr in a few mins?

Ignored

Yeah but heading into a potential news/3 am London open spike!

#810,729
Feb 21, 2024 2:03am Feb 21, 2024 2:03am

sakimer
Joined Nov 2022 | Status: Trader | 921 Posts

The dollar yen rose in London.
The pound yen also rose and the second limit of the short was also hit.

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#810,730
Feb 21, 2024 2:06am Feb 21, 2024 2:06am

F.g
Joined Aug 2016 | Status: Trader | 10,362 Posts

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My situation today...... Short with SLs as shown. . . . .

#810,731
Feb 21, 2024 2:09am Feb 21, 2024 2:09am

dantpm
Joined Aug 2022 | Status: Trader | 4,859 Posts

As I understand it, the way you read this is there is a 97% probability that there will be 4 red candles in the 1 hr time frame where the win loss ratio is 34:1.
There are also 5 early signals in the past 50 signals.
Looks like this is another one! I believe that the London open messed it up this time. The hour isn't over.

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#810,732
Feb 21, 2024 2:11am Feb 21, 2024 2:11am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

Quoting dantpm

Disliked

{quote} Yeah but heading into a potential news/3 am London open spike!

Ignored

Hi. We had the data @ 7am London (gmt,) which is 2am NY (est.) Not seeing any for 8am London, (3am est,) if you mean est, ie eastern standard time?

Trader with an Edge.

#810,733
Feb 21, 2024 2:15am Feb 21, 2024 2:15am

dantpm
Joined Aug 2022 | Status: Trader | 4,859 Posts

Quoting Headland

Disliked

{quote} Hi. We had the data @ 7am London (gmt,) which is 2am NY (est.) Not seeing any for 8am London, (3am est,) if you mean est, ie eastern standard time?

Ignored

I have 2am est as the Frankfurt open and 3 am est as the London open. Both tend to cause spikes.

#810,734
Feb 21, 2024 2:18am Feb 21, 2024 2:18am

BigNumbers
| Commercial User | Joined Jul 2021 | 3,279 Posts

In a moment we shall figure out the direction!

My telegram: https://t.me/avidforex

#810,735
Feb 21, 2024 2:18am Feb 21, 2024 2:18am

T721
Joined Oct 2020 | Status: couldn't give a flying duck | 7,353 Posts

Quoting dantpm

Disliked

As I understand it, the way you read this is there is a 97% probability that there will be 4 red candles in the 1 hr time frame where the win loss ratio is 34:1. There are also 5 early signals in the past 50 signals. Looks like this is another one! I believe that the London open messed it up this time. The hour isn't over. {image}

Ignored

Nice chart pal

#810,736
Edited 2:46am Feb 21, 2024 2:19am | Edited 2:46am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

Quoting dantpm

Disliked

{quote} I have 2am est as the Frankfurt open and 3 am est as the London open. Both tend to cause spikes.

Ignored

Again it depends what you mean by 'the open,' If you mean equities (Ftse) open then yeh London open is 3am est = 8am gmt. Can't remember re Frankfurt, but I'm sure you are right. London forex desks start trading circa 0630am London time, Frankfurt 1hr earlier. There is a lot of cross-flow of institutional monies between asset-classes when all asset-classes are trading, including commodities, fixed income etc. I know what you mean re volumes increasing @ the 'official' open re equities, but we used to process overnight orders before that, (ie @ the London 'forex open' circa 0630am London time) when I was in that world, but end of Asian session/early London liquidity didn't always provide for that, (re getting a good price,) and we might have to wait a bit till it increased, (as discussed above,) typically breaking the orders up into smaller sizes.

Trader with an Edge.

#810,737
Feb 21, 2024 2:26am Feb 21, 2024 2:26am

dantpm
Joined Aug 2022 | Status: Trader | 4,859 Posts

Quoting Headland

Disliked

{quote} Again it depends what you mean by 'the open,' If you mean equities (Ftse) open then yeh London open is 3am est = 8am est. Can't remember re Frankfurt, but I'm sure you are right. London forex desks start trading circa 0630am London time, Frankfurt 1hr earlier. There is a lot of cross-flow of institutional monies between asset-classes when all asset-classes are trading, including commodities, fixed income etc. I know what you mean re volumes increasing @ the 'official' open re equities, but we used to process overnight orders before that,...

Ignored

I have noticed the spikes at 2 am est and 3 am est. I haven't noticed anything around the 1:30 am est. Often there are news releases scheduled at these times but the spike happen anyway. 8:30 am is another 'common spike time slot, news or not.

#810,738
Feb 21, 2024 2:28am Feb 21, 2024 2:28am