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Cable Update (GBPUSD)

  • #826,241
  • May 17, 2024 2:17am May 17, 2024 2:17am
GU tested the monthly high and rejected. Expecting a bear move after the liquidity taken
There is no red news for bigger volatility
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Read the chart... Fundies are catalyst...
  • #826,242
  • May 17, 2024 2:28am May 17, 2024 2:28am
As per weekly tf , price today or this week move do not impact any / much over PA. So if breaks up 2707 or breaks down 2633 )14 and even next range play if to 2593 or 2535 do not alter much in the price action. If only bull continue over 2707 as a last leg up may tank next week. So market likely avoid such action , better play down and keep ranging at random intact , if any great news US side may take this advantage , let spike gu up before may tank next , a bad us data in need to boost ! Let's see if any great today ! No such news , so range down more probably !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #826,243
  • Edited 2:50am May 17, 2024 2:40am | Edited 2:50am
G/M. No 6th consecutive dly bullish candle then y/day as a bearish-bodied 'shooting star' type candle is printed on that t/f, as was the greater probability. So far today a small Asian range and early London trading remains in that Asian range which produce the present current dly hi and lo @ said session extremes.

Some ranging now on 1hr as price remains inside the 1hr & 4hr general uptrends hi @ y/day's 2700 hi, and the last p/back lo of those trends @ y/day's 2643 lo. Chart below shows the potential near-term upside and downside obstacles. HH (2700,) HL (2643,) and a LH (2680 - Asian/current dly hi,) are the last few fractal prints on 4hr.

1hr below
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Trader with an Edge.
  • #826,244
  • May 17, 2024 3:11am May 17, 2024 3:11am
..just whilst I have some time - Anyone's guess as to which way the Asian range and indeed the total 1hr range between y/day's 2700 hi - y/day's 2743 lo will resolve. Intraday looking bearish as of right now....could see a confirmed 2nd HH on the dly @ y/day's 2700 hi if dly prints a bearish candle later.

I mentioned y/day the 2634-circa 2546 prev 1hr/4hr/dly/minor wkly sw hi zone = prev res = pot rbs that on dly is very wide on the dly t/f. Some fib clusters in here, ie 2632-24 a 3 cluster 2604-00 a 4 cluster, 2554-46 a 4 cluster.

Dly below.
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Trader with an Edge.
  • #826,245
  • May 17, 2024 3:16am May 17, 2024 3:16am
Quoting Pat Chiko
GU. In that case. I closed high risk long trades and enter SHORT for full correction.{image} P/S don't copy my trades, I'm newbie with 99.9% failed trades.
GU

Reversal Scalping trades
Tricky, but as newbie, i just follow Price Action.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #826,246
  • May 17, 2024 3:17am May 17, 2024 3:17am
Quoting Jackoboms
{quote} How many pips profit?
to be safe above 1.2640
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #826,247
  • May 17, 2024 3:17am May 17, 2024 3:17am
I told you not to copy me.
Do your own analysis.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #826,248
  • May 17, 2024 3:25am May 17, 2024 3:25am
Come on mister shorty
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yes yes yes
  • #826,249
  • May 17, 2024 3:35am May 17, 2024 3:35am
Quoting Yngwie
Sold 1.2665
closed 21p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #826,250
  • May 17, 2024 3:38am May 17, 2024 3:38am
...
Asian range resolves to downside with 1st downside b/o.
Intraday looking bearish as of right now.
Price challenging prev 1hr/4hr sw lo zone = prev supp = pot supp, down to y/day's 2643 lo right now.

4hr below
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Trader with an Edge.
  • #826,251
  • May 17, 2024 3:42am May 17, 2024 3:42am
down down, down down to 26 town.
I wish I was allowed to hedge short
Compulsions can be hard to resist
  • #826,252
  • May 17, 2024 3:47am May 17, 2024 3:47am
If we break yesterday's low , we could go further down towards 1.26
  • #826,254
  • May 17, 2024 3:57am May 17, 2024 3:57am
...not a lot of pending buy orders in that prev 1hr/4hr sw lo zone mentioned in my pst above clearly, as buyers are hardly rushing in to defend the upside cause - this after 20mins in the zone....for now at least.

Potential upside obstacles per chart below in case they do!

1hr below
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Trader with an Edge.
  • #826,255
  • May 17, 2024 4:00am May 17, 2024 4:00am
Quoting Headland
...not a lot of pending buy orders in that prev 1hr/4hr sw lo zone mentioned in my pst aboveclearly as buyers are hardly rushing in to defend the upside cause - this after 20mins in the zone....for now at least.
it seems Friday beers are in a bit early today. Looking like it will drip down towards 12630 area
Insane in the Brain..
  • #826,256
  • May 17, 2024 4:03am May 17, 2024 4:03am
Quoting BeeTogether
{quote} it seems Friday beers are in a bit early today. Looking like it will drip down towards 12630 area
Looks so and may more 2614 play possible once breaks 43 and hold !
Strong bull fails if, already 2 failed attempts , next standard bull may come to rescue at 2514/ arounds if not weak at much lows 2589 today!
So far all in a bull set up!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #826,257
  • May 17, 2024 4:05am May 17, 2024 4:05am
Quoting BeeTogether
{quote} it seems Friday beers are in a bit early today. Looking like it will drip down towards 12630 area
Has to break 1.243 first which seems stubborn.
  • #826,258
  • May 17, 2024 4:05am May 17, 2024 4:05am
Quoting fontu
{quote} Looks so and may more 2614 play possible once breaks 43 and hold ! {image}
personally I’d be happy to be near the lower 126 areas this week. There is a good opportunity for 100 pips long I think around 12620-12590 (last weeks high)
Insane in the Brain..
  • #826,259
  • May 17, 2024 4:06am May 17, 2024 4:06am
Quoting Jackoboms
{quote} Has to break 1.243 first which seems stubborn.
yup it is stubborn but it’s only 10am UK time plenty of time left
Insane in the Brain..
  • #826,260
  • May 17, 2024 4:16am May 17, 2024 4:16am
Quoting BeeTogether
{quote} yup it is stubborn but it’s only 10am UK time plenty of time left
May ready at an earliest !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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