Cable Update (GBPUSD) | Page 41839 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #836,761
  • Aug 30, 2024 4:58am Aug 30, 2024 4:58am
...although 179% of 6mth amr has been traveled so far this mth, (on last trading day of the mth,) only 73% of 13wk awr so far this week. So, on this occassion it probably isn't too late '..to change..' the wkly candle before it closes later today? (a la Bones .) Looking at it right now, it could go either way?

wkly below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 29 KB
Trader with an Edge.
  • #836,762
  • Aug 30, 2024 5:00am Aug 30, 2024 5:00am
Quoting HaLBot
{quote} It worked as long as he closed @ 1.3200 or just before
But H4/Daily FVG was not filled. There was no reversal PA.
What was the reason?
  • #836,763
  • Aug 30, 2024 5:12am Aug 30, 2024 5:12am
Quoting genadi
{quote} But H4/Daily FVG was not filled. There was no reversal PA. What was the reason?
Hi, I don't know Pat's exact edge or reasons for going long there, but perhaps it had something to with this hypothesis; Price @ y/day's lo hit that potential rbs zone re last years 3142 hi (as described in my post above,) where buyers were waiting and price had risen from there. The Asian lo had not managed to get through it to the downside, and made a 1hr then 4hr fractal swing lo which was then tested as potential support - and buyers were encountered there, sending it higher. And of course, dly and wkly are of course still in general uptrends, if not 4hr (messy right now,) so it is not inconceivable that buyers are waiting to step back in @ a discount after the pullback off 3266/67 trend hi.
Trader with an Edge.
  • #836,764
  • Aug 30, 2024 5:12am Aug 30, 2024 5:12am
Quoting genadi
{quote} But H4/Daily FVG was not filled. There was no reversal PA. What was the reason?
He flip a coin may be
More time in the market, does not mean you trade better!
  • #836,765
  • Edited 5:52am Aug 30, 2024 5:16am | Edited 5:52am
Quoting genadi
{quote} But H4/Daily FVG was not filled. There was no reversal PA. What was the reason?

Because I commanded it to happen .......

I'm suspecting traders wanted to get some buying in for Frankfurt and London opening up until Core Harmonized Index of Consumer Prices (HICP) and Euro unemployment rate.
Unemployment came in a bit better than expected and HICP came in as expected and then the buying was sold off.
Now waiting for US data out later for anymore big moves.
Possible US rate cut still playing on traders minds so no big move down at this moment with more buying to come.
My analysis of the current conditions but I could be totally wrong and most times I am


Not that I used Pat as a signal provider but I too bought Frankfurt and London opening, just seemed logical after yesterdays big move down,
I did however see his post after getting into the market thinking "I hope he's right about this" LOL
Don't Leave Money on the Table
  • #836,766
  • Aug 30, 2024 5:27am Aug 30, 2024 5:27am
Gold
We are at a very interesting yet crucial point in the market.
Possibility for reversal or continuation is on play.
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD_2024-08-30_14-20-16.png Size: 91 KB

We have passive sellers entering the market, and wonder how big the limit order is, that it takes all these touches to the resistance yet, fail to break.
If today we get a weekly close below this resistance line, chances are we are going to dive.
2482 might be the next support zone.
I want something to break before loading my swing shorts.
PCE is expected to rise, and NFP next week.
More time in the market, does not mean you trade better!
  • #836,767
  • Aug 30, 2024 5:37am Aug 30, 2024 5:37am
...price versus amr and awr suggests there might be more room to the downside today - in this respect at least,? but quite a lot of pot supp and pot rbs to get thru to get below that prev 4hr/dly/wkly/mthly sw hi zone = pot rbs, that starts @ last years 3142 hi ...this extends down to circa 3129 on 4hr, deeper/lower on higher t/f's.

4hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
Trader with an Edge.
  • #836,768
  • Aug 30, 2024 5:39am Aug 30, 2024 5:39am
GBPUSD - Sell

Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 41 KB
Together we can be strongest
Vantage Return This Month: -97.0%
  • #836,769
  • Aug 30, 2024 5:43am Aug 30, 2024 5:43am
Possible buying of 1.3166 or just above
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 21 KB
Don't Leave Money on the Table
  • #836,770
  • Aug 30, 2024 5:48am Aug 30, 2024 5:48am
Change of plan

GY , leave long

GU , leave long but only for a retest maybe to 3234 or get stopped out

That D1 downside move when viewed on H4 has 3 swings down with no abc B wave so the 3 waves down must be part of a bigger correction to the downside and any move up most probably just a retest , if it is not then im stopped out

If it does retest to the upside then probably a good area to short from
Follow The Markets Structure - Patience and Discipline
  • #836,771
  • Aug 30, 2024 5:51am Aug 30, 2024 5:51am
Quoting Headland
...price versus amr and awr suggests there might be more room to the downside today - in this respect at least,? but quite a lot of pot supp and pot rbs to get thru to get below that prev 4hr/dly/wkly/mthly sw hi zone = pot rbs, that starts @ last years 3142 hi ...this extends down to circa 3129 on 4hr, deeper/lower on higher t/f's. 4hr below {image}
1312X possible a good area for a long. Although US data may totally change the narrative
Insane in the Brain..
  • #836,772
  • Aug 30, 2024 6:04am Aug 30, 2024 6:04am
....just idle speculation this, I have as much idea as anyone else - which is to say, no idea at all;! Are the bears are targeting that prev 4hr/dly/wkly sw hi zone = pot rbs that starts @ 3045? The 38.2% of the 2665-3266/67 move is there too, as well as other fibs, including 23.6% of the 2300 - said 3266/67 move, ie the current yrly lo - current yrly hi move.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 24 KB
Trader with an Edge.
  • #836,773
  • Aug 30, 2024 6:07am Aug 30, 2024 6:07am
Quoting pipfarm
Change of plan GY , leave long GU , leave long but only for a retest maybe to 3234 or get stopped out That D1 downside move when viewed on H4 has 3 swings down with no abc B wave so the 3 waves down must be part of a bigger correction to the downside and any move up most probably just a retest , if it is not then im stopped out If it does retest to the upside then probably a good area to short from

In fact based on the 3 wave down scenario on H4 and D1 making a correction do the downside we might see our old friend the exp flat which means a spike on the news above D1 high before the drop for C of the daily correction which makes sense for GY to rise because usually USDJPY AND GBPUSD must go in the same direction for a strong move on GY
Follow The Markets Structure - Patience and Discipline
  • #836,774
  • Aug 30, 2024 6:07am Aug 30, 2024 6:07am
Quoting Headland
....just idle speculation this, I have as much idea as anyone else - which is to say, no idea at all;! I wonder if the bears are targeting that prev 4hr/dly/wkly sw hi zone = pot rbs that starts @ 3045? The 38.2% of the 2665-3266/67 move is there too, as well as other fibs, including 23.6% of the 2300 - said 3266/67 move, ie the current yrly lo - current yrly hi move. {image}
yup, 90 mins till we may see a decent move. Stuck in limbo area for time being.
funny I used to hate non data days but looking back at it they are the most productive as we can see moved with the bands. Data days is purely a lottery
Insane in the Brain..
  • #836,775
  • Aug 30, 2024 6:12am Aug 30, 2024 6:12am
...the prev 1hr sw hi zone = pot rbs (Asian hi) and 4hr asc t/line providing the demand @ the current p/back lo of day's current main upmove.

1hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB
Trader with an Edge.
  • #836,776
  • Aug 30, 2024 6:38am Aug 30, 2024 6:38am
Quoting pipfarm
Change of plan GY , leave long GU , leave long but only for a retest maybe to 3234 or get stopped out That D1 downside move when viewed on H4 has 3 swings down with no abc B wave so the 3 waves down must be part of a bigger correction to the downside and any move up most probably just a retest , if it is not then im stopped out If it does retest to the upside then probably a good area to short from
Structure has also broken to the downside having taken out that last higher low, that B wave could go quite high above 3264 but for sure it is a trap and move down will follow , how fast i do not , but im not planning on staying in the long side too long
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 32 KB
Follow The Markets Structure - Patience and Discipline
  • #836,777
  • Aug 30, 2024 6:51am Aug 30, 2024 6:51am
going a bit against my own advice here: price is below 3186 (H4 level), but on M15 a SupDem zone was hit and exited.
So im taking a long here @ 3185
lets see if it works out.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 5 KB
in wondering about yourself, you forgot what you came here to be part of
  • #836,778
  • Aug 30, 2024 7:12am Aug 30, 2024 7:12am
Quoting knkie
going a bit against my own advice here: price is below 3186 (H4 level), but on M15 a SupDem zone was hit and exited. So im taking a long here @ 3185 lets see if it works out. {image}
Not doing what i want it to do, so im exit -3 pips.
Just above BE for the day.
I wanna see more momentum before i go back in.
in wondering about yourself, you forgot what you came here to be part of
  • #836,779
  • Aug 30, 2024 7:26am Aug 30, 2024 7:26am
5 mins till the lotto games begin…
Insane in the Brain..
  • #836,780
  • Aug 30, 2024 7:35am Aug 30, 2024 7:35am
Quoting knkie
{quote} Not doing what i want it to do, so im exit -3 pips. Just above BE for the day. I wanna see more momentum before i go back in.

Sorry Bro but than you have to wait. Hopefully not longer than that evening. Not sure who is keeping the GBP/USD up. Sell pressure should be immense.

Did I mention we had good USD numbers? Well... no one cares.
425 traders viewing now, 1 is registered:
Waveskierrob