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Cable Update - Continued 105 replies

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Cable Update (GBPUSD)

Quoting Waveskierrob
{quote} No shit Sherlock....how did you figure that out
lol your charm is delightful!!! Lol
Quoting nubcake
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...it is what it is
Quoting nubcake
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...it is what it is
Quoting trumps
{quote} I’m not at my computer so can’t post a chart, but saw this last night. Go to monthly chart, put a horizontal line around 2580/1.26 area and look left. Key points are May 2022, April, May, June consolidation candles of 2020, and the consolidation candles of 2017. It is key support we bounced off last month, and we are about to break the highs of Dec/Jan if we haven’t already (hard to tell on phone).
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Compulsions can be hard to resist
The daily is just winding up off 1.26
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Compulsions can be hard to resist
M15 started to show a weakness.
Quoting Whatevs
M15 started to show a weakness.
A possible explanation for weakness.
I have heard several people suggest that 12 am EST is when major trading computers roll over data into the next day for Europe and North America causing a change in price performance, liquidity and so on. Visually trading often 'adjusts' following this time interval. Typically by 1 am EST the effect is supposed to be finished. Trading computers from other parts of the world are not impacted by this.
Brokerage computers and some market computers reset 5 pm est.
It is highly likely to go up even more from here. Right now on myfxbook retail sentiment is 92% short and that usually doesnt change without a major catalyst like nfp or after a final blowoff top to squeeze all shorts. Also if you look at the dxy, we are coming close to a gap from 16th january at 102.6, which is likely to get filled soon. However, if gu wants to correct from now until nfp then I expect the news to push this pair to new highs but I would prefer london to push it higher and nfp to dump it.
Good Morning Friend Plz share your thoughts on this GBPUSD chart
Thanks in advance
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keeping an eye on that possible gap fill 102.48

DXY

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As for NFP ..... let the dust settle before acting
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Let's go DODGERS !!
Took short gu
Price missed by 7 pips the ress
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Quoting _BBKing_
{quote} nope. nobody noticed probably 90% are selling and getting the loss. then when price will be going down probably 90% will be looking to buy to get the lower entry. It’s a cycle, a repeating pattern. It’s been like this since the beginning of trading and will be always like this. mostly on cable I would say. i have been trapped in this many time as well.
..and me too... still holding shorts and drawdown on going but i ve halfed exposure waiting an exhaustion of this bullish run. Main limitation as a retail trader is to not follow the propagation of the movements from low TF to high HTF. So managing positions on a planned program is the only key to avoid big loss and reduce stress of taking decision under pressure.
chaos is just unknown order
Quoting Luxyus
an observation about PA on TF H1, i don t know if any has noticed that since the start of March it s repeating for the 3rd time the same. Makin a double top then breakin it then a retrace on asian session {image}
Rechecking TF H1 Asian session: unlike previous days of this week, we havent seen a retracement but a continuation with a new HOD and more important HOW printed. I dont want to illude myself but surely is a CHoCH.
chaos is just unknown order
We are at the top of a multi week range.
If market buyers are more aggressive than sellers, no matter the news, they will catch a low somewhere and push the price up to break through and go for next level area. This would be great also for the aggressive sellers waiting for higher level to fill more orders.
ok, a very pro-usd NFP release like last month, will send price back down of course.. but IMO this is not really going to happen.

however, I’m not trading cable lately, waiting for this area to be broken. I simply cannot read it properly and got confused.
had last position long @2620 last week targeting exactly here 2806 but I closed it along the way.

now focused on OIL and XRP crypto.
cable spent 7days to move 150 pips. Oil moves at least 150 pips in a standard day.
Crypto market could be in the built of uptrend this year, so I am going to catch some opportunities and XRP is the one I’m looking for a huge rise to come in next months. Best buy however, is lower than actual rate.
Yesterday was the past
The best Friday to skip on.
The market has short memory
Quoting trumps
The daily is just winding up off 1.26 {image}
They've overdone the move. It's time for it to go down.
Quoting Luxyus
{quote} ..and me too... still holding shorts and drawdown on going but i ve halfed exposure waiting an exhaustion of this bullish run. Main limitation as a retail trader is to not follow the propagation of the movements from low TF to high HTF. So managing positions on a planned program is the only key to avoid big loss and reduce stress of taking decision under pressure.
Hmmm...same here too
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