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Cable Update (GBPUSD)

  • #826,161
  • May 16, 2024 8:55am May 16, 2024 8:55am
Quoting BeeTogether
{quote} price hogging the pivot area
As the day progresses, it's likely that prices will keep dropping, given the intense bull market we experienced yesterday.
If price was to continue going higher today, It should not spend more time in the range. Usually, the delay in a range is caused as a result of mitigation.
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  • #826,162
  • May 16, 2024 9:01am May 16, 2024 9:01am
Quoting tiborf71
sold. 1.26568.
TP-1.25800
  • #826,163
  • May 16, 2024 9:04am May 16, 2024 9:04am
Quoting tiborf71
{quote} TP-1.25800
I like the TP area will make my week’s earnings if we get there lol
Insane in the Brain..
  • #826,164
  • May 16, 2024 9:06am May 16, 2024 9:06am
Quoting BigNumbers
{quote} As the day progresses, it's likely that prices will keep dropping, given the intense bull market we experienced yesterday. If price was to continue going higher today, It should not spend more time in the range. Usually, the delay in a range is caused as a result of mitigation.
yup I think so, the bulls couldn’t make it break 127 overnight and there wasn’t an attempt to break higher today either. This is a correction day as I mentioned yesterday. Chances are we could resume upwards tomorrow especially as there is little data in play.
Insane in the Brain..
  • #826,165
  • May 16, 2024 9:16am May 16, 2024 9:16am
Quoting tiborf71
{quote} TP-1.25800
not this week
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #826,166
  • May 16, 2024 9:23am May 16, 2024 9:23am
Quoting Bones
{quote} not this week
maybe.
it's just a matter of detail.
  • #826,167
  • May 16, 2024 9:24am May 16, 2024 9:24am
Reversal time it seems potentially back to 12680 area bears looking tired
Insane in the Brain..
  • #826,168
  • May 16, 2024 9:28am May 16, 2024 9:28am
gu nearing critical level and reacts more while eu just breaks intermediate sr , likely more to down before good bounce attempt. if so then gu may back over 2633 again . waiting signal down for it , my last time scalping today if ok ! may test u[p 2661 and then if signal at 2655 again !
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #826,169
  • May 16, 2024 9:33am May 16, 2024 9:33am
Thursday and weekly is bullish, never touched 12709
Mystic Meg says the weekly close bullish this week, that's over 24 hours away
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #826,170
  • May 16, 2024 9:35am May 16, 2024 9:35am
Quoting Sammih
{quote} full position now loaded. 196.93 could be a short as well but by then sentiment could have shifted but to longs (hence my stops are lower than that) {image}
Im tempted to sell here again. The RR is insane. 12:1. lets do it, risk 0.4%
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I'm high on trading, cant you tell?
  • #826,171
  • May 16, 2024 9:39am May 16, 2024 9:39am
Quoting Bones
Thursday and weekly is bullish, never touched 12709 Mystic Meg says the weekly close bullish this week, that's over 24 hours away {image}
of course, it is best if everyone does their own analysis and decides accordingly.
  • #826,172
  • May 16, 2024 9:51am May 16, 2024 9:51am
Quoting Bones
Thursday and weekly is bullish, never touched 12709 Mystic Meg says the weekly close bullish this week, that's over 24 hours away {image}
Getting to 127 with a cheaper rate would be ideal let’s see how this all plays out.

bears couldn’t break below 12640 thus not getting to S1 to provide a turn around zone. However nothing is ever that simple.
Insane in the Brain..
  • #826,173
  • May 16, 2024 9:57am May 16, 2024 9:57am
playing more than expected at intermediate sr , may continue bull action if breaks up 2671/5 and hold or may breaks limit 2633. watching signal 2660 and hold for retest down
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #826,174
  • May 16, 2024 9:57am May 16, 2024 9:57am
Quoting BeeTogether
{quote} Getting to 127 with a cheaper rate would be ideal let’s see how this all plays out. bears couldn’t break below 12640 thus not getting to S1 to provide a turn around zone. However nothing is ever that simple.
why are you hoping for 1.27xxx?
what are the arguments.
  • #826,175
  • May 16, 2024 9:59am May 16, 2024 9:59am
Bull may come back?
  • #826,176
  • May 16, 2024 10:00am May 16, 2024 10:00am
Barkin really cancelled the bears

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  • #826,177
  • May 16, 2024 10:04am May 16, 2024 10:04am
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yes yes yes
  • #826,178
  • May 16, 2024 10:05am May 16, 2024 10:05am
Quoting tiborf71
{quote} why are you hoping for 1.27xxx? what are the arguments.
I was actually thinking more 12750. The argument is more that Fed is looking for a rate cut. It is all talk for now but we could able seeing the US economy stalling a bit.
Insane in the Brain..
  • #826,179
  • May 16, 2024 10:20am May 16, 2024 10:20am
Quoting Moty
{image}
like to see the days low crack but it’s not looking too doable
Insane in the Brain..
  • #826,180
  • May 16, 2024 10:29am May 16, 2024 10:29am
Quoting BeeTogether
{quote} I was actually thinking more 12750. The argument is more that Fed is looking for a rate cut. It is all talk for now but we could able seeing the US economy stalling a bit.
well, if we look at the fundamental analysis, maybe yes, maybe.
but there are signs that suggest that this pair is currently very overbought..
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