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Cable Update (GBPUSD)

  • #819,741
  • Apr 1, 2024 11:36pm Apr 1, 2024 11:36pm
Quoting Jade Gate
UJ is currently in the BOJ's "death zone" like Everest, above 8,000 metres. I would not want to be taking them on long. They say don't fight the Fed, but also don't fight BOJ when they get their game on. I'm short. GU - be careful if you are long here, very possible there will be stop hunt before or after LO. Those wicks on 1H may not hold up for north. Hope some of you caught BTC express train south. {image}
That M30 candle before the drop, I was waiting for it to close so I short BTC, but I missed it cos I was battling longing GU during that time.
  • #819,742
  • Apr 1, 2024 11:42pm Apr 1, 2024 11:42pm
Quoting Jade Gate
UJ is currently in the BOJ's "death zone" like Everest, above 8,000 metres. I would not want to be taking them on long. They say don't fight the Fed, but also don't fight BOJ when they get their game on. I'm short. GU - be careful if you are long here, very possible there will be stop hunt before or after LO. Those wicks on 1H may not hold up for north. Hope some of you caught BTC express train south. {image}
Hi Jade,

I trust you are well & thank you for outlining your Thoughts on UJ & GU, with which, I am fully aligned.

You didn't detail where you suspect UJ could cycle downward to. From my end, I am of the view that 90.00 or even the intra-decade 75.00 is not unreasonable to liquidate final long-range order flow.

So far as GU, your H1 suspicion resonates deeply with me & I lean toward the LO along with the bounce aligning with the H4 thereafter as a general historical pattern across such trends.

The current H1 accumulation since yesterday appears "too long" to be the head, so the dip downwards, if pulled back up rapidly within the day would be a more accurate indicator of a H&S pattern which could then usher in a return to the previous 1.28 handle & perhaps blow-off top from there.

I will be greatly appreciated if you could advise whether you consider it not unlikely that GU is headed back to the 2018 PFH of 1.43 & then the previous intra-year death-line at 1.78

Wishing you a pleasant day ahead & May The Markets Go With You.
Des

P.S. Caught the BTC Short but unsure whether you follow BNB, I am of the view we're headed for a correction on BNBUSD. I was short on that pair since 576.500 & got whip-sawed around for a few days. If the capitulation takes place, most likely a dead-cat bounce at 406.400 or 350.300 with possible lower target zone 265.800. I will appreciate your Thoughts on that if you glance at the chart since there seems to have been considerable trapped volume between 244.700 & 200.673
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #819,743
  • Apr 1, 2024 11:51pm Apr 1, 2024 11:51pm
Quoting Maroka
{quote} That M30 candle before the drop, I was waiting for it to close so I short BTC, but I missed it cos I was battling longing GU during that time.
We all do our best given what we have at the time. Never beat yourself up if you miss an opportunity. Just use it as a learning experience (one of a great many we all have when learning to trade). That retracement today to the 88.2 fib (my personal fib, not a strict fibo number) of the previous downdraft was savage, almost thought my TP cover would be stopped out but just got lucky. Then the next tranche south.
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  • #819,744
  • Apr 2, 2024 12:00am Apr 2, 2024 12:00am
Quoting Desbinary
{quote} Hi Jade, I trust you are well & thank you for outlining your Thoughts on UJ & GU, with which, I am fully aligned. You didn't detail where you suspect UJ could cycle downward to.
I never try to estimate when to TP (but admire other traders who can do this). But I do track and plot S&R levels and monitor those when the PA approaches. Just rely on candles, fibs, fundies and market sentiment. I am a 90% position trader, so always looking for the long term hold and prepared to cop it sweet on retracements (or trade counter-trend in same pair, not for everyone). So can't really give a definitive response. Just instinct and experience.
  • #819,745
  • Apr 2, 2024 12:28am Apr 2, 2024 12:28am
GJ


Here's my analysis of GBP/JPY based on technical and fundamental factors.
Remember, this is just my personal opinion, not a trading signal.
I'm simply sharing my thoughts.

Technical Analysis:
GBP/JPY has broken below the H4 support level and is currently retesting the daily support.
There's a possibility of a price retest at the H4 Fair Value Gap (FVG) before a potential downward continuation.


Fundamental Analysis:
The Japanese government may intervene to prevent a weakening Yen, which could strengthen JPY.
Ongoing geopolitical genocide in the Middle East might increase demand for safe-haven currencies like JPY.
The Bank of England's dovish stance, suggesting potential interest rate cuts, could weaken GBP.
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I come from the future.
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  • #819,746
  • Apr 2, 2024 12:30am Apr 2, 2024 12:30am
Quoting Desbinary
{quote} unsure whether you follow BNB, I am of the view we're headed for a correction on BNBUSD. I was short on that pair since 576.500 & got whip-sawed around for a few days. If the capitulation takes place, most likely a dead-cat bounce at 406.400 or 350.300 with possible lower target zone 265.800. I will appreciate your Thoughts on that if you glance at the chart since there seems to have been considerable trapped volume between 244.700 & 200.673
Here's my fibs on the BNBUSD chart. I haven't looked at this pair before but gotta say that's some seriously nasty PA and a triple top, violent. You can see it hit the 88.2 fib and choked. The 76.4 fib is my own fib too, also not a standard fibo. Not sure I have the stomach for it but for the bravehearts among us, it may well be a great short (just gotta pick your moment or the whipsaw thing beats you up real bad). I do always expect a 61.8 fib retracement (in this case it would be the 38.2 fib) but you could pick any fib between here and there and just monitor the PA.
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  • #819,747
  • Apr 2, 2024 12:51am Apr 2, 2024 12:51am
USD could drop on JOLTS today to make a room for upcoming hot NFP and to have a better price to Short from.
  • #819,748
  • Apr 2, 2024 1:13am Apr 2, 2024 1:13am
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yes yes yes
  • #819,749
  • Apr 2, 2024 1:19am Apr 2, 2024 1:19am
Monthly chart, cable sitting on middle point of Keltner channel, and i dont think it would get lower, in that case from a mid long term view at least an attempt to regain yearly open @1.2720 suggest me to gradually place longs below 1.2550 as i ve already started yesterday.
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chaos is just unknown order
  • #819,750
  • Apr 2, 2024 1:28am Apr 2, 2024 1:28am
shorrterm rather a buying area
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trading is like dancing, don't think and just listen to the music!
  • #819,751
  • Apr 2, 2024 1:30am Apr 2, 2024 1:30am
checking poa , may continue test and breaks supports 2517 , 2499 for next probable target 2444 while limits up 2585 and 2623..yesterday not cared about breakout , nr 7 possible , but narrowest was 6th and 7th breaks range , usually i follow 7th day but not followed , wait 7th end and as monday so just morning trade and stopped checking.
anyway today may more ranging due supports testing . lets new pa may to try follow ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #819,752
  • Apr 2, 2024 1:39am Apr 2, 2024 1:39am
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yes yes yes
  • #819,753
  • Apr 2, 2024 2:29am Apr 2, 2024 2:29am
Quoting prop.kid
{quote} Hi Sir Pat Chiko, Your dirty play is easy to spot! you always exited correctly on losing trades > without placing sl beforehand. You have to learn to eat your own sh*t what hindsight is. Careful with this guy!
Lmao he got banned for having an additional username. We have a gang of petty guys with lil d syndrome who shares nothing of value, only talks trash with multiple fake accounts too. Good riddance.
You have to have an IQ higher than 90 to interact with this user.
  • #819,754
  • Apr 2, 2024 2:39am Apr 2, 2024 2:39am
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yes yes yes
  • #819,755
  • Apr 2, 2024 2:40am Apr 2, 2024 2:40am
Quoting Nordling
{quote} Bro you are suffering from success Well done
NOw im just imagine if im still holding short from friday..lol..
Now im got feeling it will build up..
Long 2545 just little lots..sl 2530
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dont teach me how to buy. im sellers!!
  • #819,756
  • Apr 2, 2024 2:44am Apr 2, 2024 2:44am
Quoting TraderFX.Id
{quote} NOw im just imagine if im still holding short from friday..lol.. Now im got feeling it will build up.. Long 2545 just little lots..sl 2530 {image}
I am looking to go long as well but i don't want to catch a falling knife. We have JOLTS coming out today, i gotta see a bullish momentum from JOLTS to go long. If not, i will keep waiting on the bench
You have to have an IQ higher than 90 to interact with this user.
  • #819,757
  • Apr 2, 2024 2:51am Apr 2, 2024 2:51am
GU: Daily
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Intraday Trading is an Art _ hoda
  • #819,758
  • Apr 2, 2024 3:15am Apr 2, 2024 3:15am
Quoting TraderFX.Id
{quote} NOw im just imagine if im still holding short from friday..lol.. Now im got feeling it will build up.. Long 2545 just little lots..sl 2530 {image}
potential correction towards 126. Depends on where we close after. It could take us back to the mid 126 -127 levels by Friday or another attempt at 125. Not sure what if any red sticker events there are this week to influence or mess up the PA though
Insane in the Brain..
  • #819,759
  • Apr 2, 2024 3:17am Apr 2, 2024 3:17am
ty mister goldi
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yes yes yes
  • #819,760
  • Apr 2, 2024 3:32am Apr 2, 2024 3:32am
Quoting Nordling
{quote} I am looking to go long as well but i don't want to catch a falling knife. We have JOLTS coming out today, i gotta see a bullish momentum from JOLTS to go long. If not, i will keep waiting on the bench
Hi Nordling,

Heads up about the job market. (Based on primary market estimate.)
Looks like there might be a few fewer job openings this month.
Analysts are saying the number might dip down to around 8.79 million in February, that's a tiny bit lower than January's 8.86 million.
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One more thing to keep in mind.
If the number comes in even lower, at or below 8.5 million, that could signal a bit of a shift in the job market.
It might mean there's a little more slack, with more people looking for jobs than there are openings.
That could also have a ripple effect, potentially weakening the U.S. dollar in the short term.
I come from the future.
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