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Cable Update (GBPUSD)

  • #836,441
  • Aug 27, 2024 10:34am Aug 27, 2024 10:34am
Quoting Godspromise
{quote} {image} Notice the huge wick rejections and break of supply area to create a new one its going to test that zone before going to go to 207.00

I see what you mean but your counting todays bar as a wick when today is not over, if you look at the prior days bar i would consider that wick more relevant, from my understanding of wicks they should be at least two times the size of the body to have any significance, as far as the price action to the left is concerned the area to left you marked i do not see as significant as there is no swing high or low there, regardless we both agree it could be going up.
Follow The Markets Structure - Patience and Discipline
  • #836,442
  • Aug 27, 2024 10:36am Aug 27, 2024 10:36am
Quoting Godspromise
{quote} {image} Notice the huge wick rejections and break of supply area to create a new one its going to test that zone before going to go to 207.00
Trading in the range will trigger many losses. Wait for break down of trend line or break up of resistance, this is where the high probability trade setup is. With few dollar, you will get many few dollars. Based of the current structure, breakout is tilted to the upside since resistance is being retest from HL.

HL means demand(buyers) are entering the market at higher and higher prices - so they believe the current price is undervalued.
This is the underlying fundamental behind market structure reading.
Its not a simply HH, HL, LH, LL, EQH, EQL, Inducement, Breakout Retest.
More time in the market, does not mean you trade better!
  • #836,443
  • Aug 27, 2024 10:38am Aug 27, 2024 10:38am
My only concern with GU is the Daily inside bar which can be a sign of weakness during an up or down trend , however we had limited trading yesterday due to UK being a bank holiday and that may have caused the inside bar. A swing has a beginning and an end this might just be the end.
Follow The Markets Structure - Patience and Discipline
  • #836,444
  • Aug 27, 2024 10:42am Aug 27, 2024 10:42am
Quoting Mitiblotch
{quote} Hopefully it gets there. This pair is crazy.
yeah its kinda wild haha
in wondering about yourself, you forgot what you came here to be part of
  • #836,445
  • Aug 27, 2024 10:52am Aug 27, 2024 10:52am
Quoting pipfarm
{quote} I see what you mean but your counting todays bar as a wick when today is not over, if you look at the prior days bar i would consider that wick more relevant, from my understanding of wicks they should be at least two times the size of the body to have any significance, as far as the price action to the left is concerned the area to left you marked i do not see as significant as there is no swing high or low there, regardless we both agree it could be going up.
I see I understand bro as I said I could be wrong I'm not looking to go further than 189.6 which is my 4 hr zone
  • #836,446
  • Aug 27, 2024 11:15am Aug 27, 2024 11:15am
Quoting pipfarm
My only concern with GU is the Daily inside bar which can be a sign of weakness during an up or down trend , however we had limited trading yesterday due to UK being a bank holiday and that may have caused the inside bar. A swing has a beginning and an end this might just be the end.
do you trade gbp aud??
  • #836,447
  • Aug 27, 2024 11:24am Aug 27, 2024 11:24am
Quoting thevisitor
{quote} h&s??
Head and shoulders
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yes yes yes
  • #836,448
  • Aug 27, 2024 11:26am Aug 27, 2024 11:26am
Closed my GU trade , it is just tiring me out waiting for it to move and considering the D1 inside bar and slow movement , i will take 20 pips and be done
Follow The Markets Structure - Patience and Discipline
  • #836,449
  • Aug 27, 2024 11:27am Aug 27, 2024 11:27am
Quoting Godspromise
{quote} do you trade gbp aud??

Yes if there is a set up
Follow The Markets Structure - Patience and Discipline
  • #836,450
  • Aug 27, 2024 11:29am Aug 27, 2024 11:29am
i can not take sell signals yet no direction is changed
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  • #836,451
  • Aug 27, 2024 11:34am Aug 27, 2024 11:34am
Quoting pipfarm
{quote} Yes if there is a set up
I'm seeing a 4 hr set up what's your thoughts on that sell
  • #836,452
  • Aug 27, 2024 11:38am Aug 27, 2024 11:38am
Quoting Moty
{quote} Head and shoulders {image}
yes, but it isn't a head and shoulder..
  • #836,453
  • Aug 27, 2024 11:40am Aug 27, 2024 11:40am
Quoting Godspromise
{quote} I'm seeing a 4 hr set up what's your thoughts on that sell

My chart is fup,, the spike high on daily is not showing on H4
Follow The Markets Structure - Patience and Discipline
  • #836,454
  • Aug 27, 2024 11:40am Aug 27, 2024 11:40am
Boring pa , want bull as higher tf , ok do it at least!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #836,455
  • Aug 27, 2024 11:43am Aug 27, 2024 11:43am
Quoting Godspromise
{quote} I'm seeing a 4 hr set up what's your thoughts on that sell
ok im using a different broker and the spike is in there

H4 primary trend is up, previous swing down is corrective , H4 is just about to break up into a trend so its long for me
Follow The Markets Structure - Patience and Discipline
  • #836,456
  • Aug 27, 2024 11:44am Aug 27, 2024 11:44am
Quoting pipfarm
{quote} My chart is fup,, the spike high on daily is not showing on H4
I see I see
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My current trades running holding gbpaud but may close gbpjpy at end of day depending if it close enough to tp
  • #836,457
  • Aug 27, 2024 11:49am Aug 27, 2024 11:49am
When shall we sell?

GU behaving same way AU behaved last month. AU was bearish till after NFP.

Maybe GU shall be bullish till after the Feds cut interest rate.
  • #836,458
  • Aug 27, 2024 11:50am Aug 27, 2024 11:50am
Pure boredom of NY.
  • #836,459
  • Aug 27, 2024 11:52am Aug 27, 2024 11:52am
Quoting pipfarm
{quote} ok im using a different broker and the spike is in there H4 primary trend is up, previous swing down is corrective , H4 is just about to break up into a trend so its long for me
ok I understand I'll check my charts again
  • #836,460
  • Aug 27, 2024 12:11pm Aug 27, 2024 12:11pm
Sorry to bust y'all bubbles but GU is still going up. the more majority of people try to sell, the more up it goes lol
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