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Cable Update (GBPUSD)

  • #821,201
  • Apr 12, 2024 1:31am Apr 12, 2024 1:31am
Daily line chart
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Seen in candles
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I don't mean we go straight down, but really things are quite different now compared to February when the 1.25 supported the price since still within an uptrend.
My question is: what could be the trigger to send price back up?
We probably see some bounces around this area but even the 1.26 now seems quite far.
90% of traders use TA, indicators and prediction
  • #821,202
  • Apr 12, 2024 1:32am Apr 12, 2024 1:32am
Quoting Luxyus
{quote} ..and here we are and still a long way to go. fiber and cable are going to print a new low on weekly TF, respectively @1.0690/70 and 1.2470/50. every local high on intraday TFs (M30>H4) can be an opportunity to short safely for me.
waiting for the weekly swing
chaos is just unknown order
  • #821,203
  • Apr 12, 2024 1:34am Apr 12, 2024 1:34am
Quoting BeeTogether
{quote} totally with you on this one. The data should have helped push it towards the days opening are but instead it’s dropped a bit. Fry-day manipulation
GDP data and construction output data not good. The rest was better but clearly not enough to sway market into bull mode.
  • #821,204
  • Apr 12, 2024 1:35am Apr 12, 2024 1:35am
Quoting fontu
{quote} Diamond like swing at a bottom with all good/green UK date, and though smaller tf diamond usually not work, still its bearish, test previous low or below 2499 may invalidate to before reaction high as just spike up before further down possible. Anyway overall bearish., in failure or success of diamond! {image}
Agree the trend is bearish, so far the pair hasn’t broken below 125 which is the only thing that indicated to me we could see a bounce towards 126 but even then it was capped at 12570 which failed to break again last night.

either we are in a tight range 12510-12570 or there we be some sort of break out. Friday’s a lot of profiteering takes place too
Insane in the Brain..
  • #821,205
  • Apr 12, 2024 1:41am Apr 12, 2024 1:41am
Today's Support & Resistance on MT5 Templates

EURO
CABLE
GOLD

https://www.forexfactory.com/thread/...4#post14828124
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #821,206
  • Apr 12, 2024 1:42am Apr 12, 2024 1:42am
Quoting birdland
{quote} green long zone...lets try it again! already small profit protected. {image}
stopped out with a small profit
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trading is like dancing, don't think and just listen to the music!
  • #821,207
  • Apr 12, 2024 1:45am Apr 12, 2024 1:45am
Sometimes, instead of looking into the mine pit, you need to keep an eye on the canary in the mine instead. Kiwi dollar = canary. When it hits that trendline, and if it holds, then reversal across the board. If not, watch out below.
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  • #821,208
  • Edited 2:07am Apr 12, 2024 1:53am | Edited 2:07am
Quoting BeeTogether
{quote} Agree the trend is bearish, so far the pair hasn’t broken below 125 which is the only thing that indicated to me we could see a bounce towards 126 but even then it was capped at 12570 which failed to break again last night. either we are in a tight range 12510-12570 or there we be some sort of break out. Friday’s a lot of profiteering takes place too
Converting diamond in expanding triangle, still bearish with greater ranges, or typically symmetrical tinangle. Anyway testing previous low, reaction low to if breaks and hold for considerable to time to go target or premature fakeout. Around 2496.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #821,209
  • Apr 12, 2024 2:02am Apr 12, 2024 2:02am
Quoting Konichiwhaat
{quote} 13. SL 14. Re-entry {image}
14. SL.
15. Re-entry, buying at the next level on the hour close
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Emotional Control. Process, not outcome.
  • #821,210
  • Apr 12, 2024 2:08am Apr 12, 2024 2:08am
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  • #821,211
  • Apr 12, 2024 2:14am Apr 12, 2024 2:14am
short 2516, targeting 2435
Compulsions can be hard to resist
  • #821,212
  • Apr 12, 2024 2:23am Apr 12, 2024 2:23am
Free fall.
1.2500 to stop this nomsense.
Intraday only.
  • #821,213
  • Apr 12, 2024 2:24am Apr 12, 2024 2:24am
Gold is the most interesting thing right now.. I expect big move both ways today.

waiting for 2347 for RT before anything
  • #821,214
  • Apr 12, 2024 2:24am Apr 12, 2024 2:24am
And here's the sibling rivalry going on. EURGBP cross. The one weakness cable has is that GBP can't be used to settle international contracts of trade between countries. Only USD or Euros (and a small number of particular contracts can now be settled in Yuan, someone pls correct if my info is wrong or omitting smth). Oil only settles in USD. The cross looks bearish (all those ma's crossing over above), but won't be surprised if price holds here on the cross and starts a northbound journey, sending cable further into the pit (or not). Eyes on the chart.
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  • #821,215
  • Apr 12, 2024 2:26am Apr 12, 2024 2:26am
Quoting navk
Free fall. 1.2500 to stop this nomsense.

Anyone know/understand the reason US dollar so strong yet gold just pumps and pumps
Don't Leave Money on the Table
  • #821,216
  • Apr 12, 2024 2:28am Apr 12, 2024 2:28am
couldnt sleep...im looking to go long this hourly canddle in 30 min. if green
short trump and go long the deepstate
  • #821,217
  • Apr 12, 2024 2:29am Apr 12, 2024 2:29am
Quoting Whale
Gold is the most interesting thing right now.. I expect big move both ways today. waiting for 2347 for RT before anything
maybe the shit from Iran driving it, they are cowards and they will do nothing.. they know their breaths on the line here.
  • #821,218
  • Apr 12, 2024 2:32am Apr 12, 2024 2:32am
Quoting Zebi
couldnt sleep...im looking to go long this hourly canddle in 30 min. i green

I'm buying already 1.2508 and Euro 1.0680
Don't Leave Money on the Table
  • #821,219
  • Apr 12, 2024 2:33am Apr 12, 2024 2:33am
Quoting HaLBot
{quote} Anyone know/understand the reason US dollar so strong yet gold just pumps and pumps

Yeah, the Yanks are bedazzled by bright shiny things
  • #821,220
  • Apr 12, 2024 2:34am Apr 12, 2024 2:34am
Quoting Jade Gate
{quote} Yeah, the Yanks are bedazzled by bright shiny things

Hehehehe.......all dem hommies wit gold chains around da necks
Don't Leave Money on the Table
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