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Cable Update (GBPUSD)

  • #827,761
  • Edited 7:26am May 31, 2024 7:12am | Edited 7:26am
...all a bit rangy intraday although still mildly bearish overall by that measure. 1hr rangy too, as of right now.
Just back for the U.s data on the 1/2hr.

1hr below
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Trader with an Edge.
  • #827,762
  • May 31, 2024 7:12am May 31, 2024 7:12am
hello GUYS
PCE is coming and it will be tricky,

looking at USD INDEX it doesn't look good,
so Best trade might be GOLD and YEN
i will be buying GOLD at 2335 or even before also for 2360+ target,
will wait for YEN to hit 157,50 to sell
maybe at 157.30 with target of 156.50
that's just us trading.
GBPCAD took Whole day but it did give us +60 pips so we are happy with the trade.
as i mentioned before also many times i trade in LOT of pairs,
almost 17 pairs including GOLD
Remember Leverage is Poison
Good luck,
a wise man once said " if you want to make money, you will have to find a way to stop loosing it"
Don't compare your Trades with Others
  • #827,763
  • May 31, 2024 7:18am May 31, 2024 7:18am
Price didn't move with EU at all. This week's has been very good for me. Let's see what PCE brings. My bias is long for a few pips spike. I think data will be black or red (Ps. I'm simply thinking aloud).
  • #827,764
  • May 31, 2024 7:20am May 31, 2024 7:20am
...dly and wkly could close either way, but as Bones would say - it's probably too late to change the mthly, now. It will likely close bullishly today, making 2300 a fractal swing L after the HL @ 2519, then the H @ @ 2893. Rangy then on this t/f more than anything right now,? but interestingly the lo of the big bullish thrust candle from Nov'23 (2038) is still intact, after 6 further months.

Mthly below (with 2300 as a fractal swing)
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Trader with an Edge.
  • #827,765
  • May 31, 2024 7:23am May 31, 2024 7:23am
Quoting SmallGains
{quote} Yea i took some when it broke back in channel. Cool feature it tell you seller buy strength.

look for vsf indicator on trading view
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yes yes yes
  • #827,766
  • May 31, 2024 7:24am May 31, 2024 7:24am
"Until the resistance levels at 1 and 4 are broken, the pound remains under selling pressure."
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  • #827,767
  • May 31, 2024 7:26am May 31, 2024 7:26am
Quoting mturabkhan
it has to go up till 1.2750 before going down
Why?
Emotional Control. Process, not outcome.
  • #827,768
  • May 31, 2024 7:28am May 31, 2024 7:28am
I dont analyze dxy anymore, but i took a look right now before the news.. daily showing bullish activity soon.
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  • #827,769
  • May 31, 2024 7:32am May 31, 2024 7:32am
US data seems red .. waiting for DailyFX update to confirm
Insane in the Brain..
  • #827,770
  • May 31, 2024 7:34am May 31, 2024 7:34am
Quoting BeeTogether
US data seems red .. waiting for DailyFX update to confirm
red.

but nothing really happened. Give it 30m
  • #827,771
  • May 31, 2024 7:37am May 31, 2024 7:37am
... a pretty easy buy scalp for a handful of pips (+?) when it had finished farting around on the initial knee-jerk react. Challenging asian/current dly hi now @ the current react hi.

1hr below
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Trader with an Edge.
  • #827,772
  • May 31, 2024 7:38am May 31, 2024 7:38am
Core PCE inflation holds at 2.8%
PCE index holds at 2.7%
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Insane in the Brain..
  • #827,773
  • May 31, 2024 7:41am May 31, 2024 7:41am
Quoting Konichiwhaat
{quote} Friday night at the Tokyo races... whos gonna come in first? My bets are on either EU or UCAD {image}
...and with the last news of the week, UCAD has FALLEN, leaving an open run for EU, with GU dragging ass but comming... BUT WAIT, whos this? AU (my horse) stepping up to the challenge??? Its gonna be tight, photo finnish maybe!
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Emotional Control. Process, not outcome.
  • #827,774
  • May 31, 2024 7:51am May 31, 2024 7:51am
Quoting navk
{quote} The daily close is bullish. In this scenario, most of days, price will hit daily r1 Reversal... it depends . Need to watch at r1
Closed my long trades profit.

On a pull back, I will again take longs today.
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Intraday only.
  • #827,775
  • May 31, 2024 7:53am May 31, 2024 7:53am
...nice! - challenging prev 1hr/4hr sw hi zone to y/day's hi now = prev res = pot res

1hr below
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Trader with an Edge.
  • #827,776
  • May 31, 2024 7:53am May 31, 2024 7:53am
its a head and shoulder pattern it has to come down soon
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  • #827,777
  • May 31, 2024 7:55am May 31, 2024 7:55am
This monthly was actually formed right at the start of the month, the weight was already there by then, the curse of the shaven open
We know it's going to high probability print & even last week wasn't too early to read it
It's not going to leave that range to the upside anytime soon
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #827,778
  • Edited 8:30am May 31, 2024 7:58am | Edited 8:30am
if look h1 1.27500, now this is not the end of this trend,it need many hours to finish this trend.it can go down,but this is not the end of trend.or huge prices like gap. it can be 1.27 again.
if look h4,it goes to 1.27800 minimum. maybe not today,maybe monday.but 1.2810-155. after can go down. mission complete. after 1.28 daily trend can reverse
  • #827,779
  • May 31, 2024 8:05am May 31, 2024 8:05am
Quoting askalt1980
{image}
SL at BE
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  • #827,780
  • May 31, 2024 8:06am May 31, 2024 8:06am
Quoting navk
{quote} Closed my long trades profit. On a pull back, I will again take longs today. {image}

Yes the glorious pullback, made much money of this phenomenon

1.2735/30 be a nice pullback if it can get there
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