Cable Update (GBPUSD)

GU

The importance of using HTF for trading analysis, while utilizing LTF to fine-tune N3 points.

For any trading setup, including scalping, the best practice is to first analyze the HTF to understand the overall market structure and context.

In this trades, by using and observing the HTF, such as the Daily and H4 charts, we can see that the price is making a comeback to retest the breakout zone.
Within this zone, there is also a Daily FVG that was filled early this morning when the market opened.

why it looks like GU has completed its correction and ready to move upwards? who can see C wave is completed ?
May be the last leg 5th wave of 3rd wave is remaining till max 1.2815? And then it will rise again

wht u can speculate?

Have a good weekend all. The move up looks good. However next week the data will be interesting

as long as its below 1.2880 its still can move down to 1.2815?

always a potential. Remember the data next week can set the PA for the next few weeks. I still have 12780 on view before a move up

for 4.5 pts

...just under 2hrs till market close for the week, and maybe too late for much to change? We'll see.

* Wkly This week's candle will likely close bearishly - a downside follow thru on last week's bearish hammer candle on this t/f, although it remains overall bullish, having seen a recent range break to the upside, and what will be a new upside break hi @ 3045, (current mthly/yrly hi,) with this wk's 2847 likely wkly lo testing the top of that range, following this 1st upside b/o of it to said 3045. A 96pip range all week, only 60% of it's 13wk (1/4yr) awr.
* Dly Friday's dly candle will likely close as a < 30day adr bullish-bodied candle, possibly even a bullish piercing pattern if price moves a bit higher before the close. The t/f's general uptrend has been weakened by what will be a 1st LL @ Fri's/the wk's likely lo, or lower, when it forms fractally.
* 4Hr The t/f will likely close the week, (like the 1hr,) in a general downtrend.

The main question going into the start of next week is - is the pullback in the dly general uptrend over? So far this month 145% of the 6mth amr has been travelled by price. The aforegoing question, and statement, are not necessarily connected!

Wkly, Dly, and 4Hr below.

Weekly Ok down but today fails to bear so far . Anyway all eyes on eurusd and may ready action from next week then ! Let's see

1.2950 1.2975
is next zone to look for sell


Quarter level retest 1.2750

my view not trade call

Lets just sell all of us.

In BP the SL was hit.

I cancelled the pending order in E. to sell at 1.08 74.

No orders -No positions now.

No drama = no numbers, not good for FF business

Touch grass, retard.

Yes....

Another week another losses. Lets do it traders!

No we will gain this week my friend !

GBPUSD price action on the daily time frame disposed bearish after a breakdown of the 1.28870 intra-day horizontal support on Thursday. However, there was a feeble bullish pushback on Friday, and presently the market is ambivalent.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

train already left?
Buy limit 2R

seems twill be a quick -1R loss
sell stop 3R in place