Cable Update (GBPUSD)

Sold 1.3182

well until a few hours before NFP im buying

Seems obvious price is targeting 1.3200, but could be wrong. Price hasn't got into the overbought area on the hourly chart yet

1.3210 is Weekly close from 2 weeks back.
Price usually starts ranging around such a level.
By then NFP will be i play and i will stop trading i think.

Stop and Takeprofit ?

Very bullish PA, very lazy pair.
Greatest pair became the lamest.

I think NFP today will be with FO in the beginning

Saint Vincent does not regulate Forex as I remember and only CySEC can be trusted in your list.

I only trade with brokers with regulated like FCA, ASIC, or CySEC and don't offer max leverage to more than 1:500.

which one are you using for 2+ years with no major issue ?

G/M, bullish dly candle y/day. So far today an upside follow-thru and a first upside b/o of the Asian hi and Y/day's hi to the base of the 1hr part now of a prev 1hr/4hr sw hi zone = pot res that extends up to 3200 with 61.8% 3266-3087 @ 3098 and Dly R1 @/around 3199. $ crosses under pressure across the board it seems.

4hr (with 10/20/40 crosses graphic) below

OK NFP day ,

4H timeframe -NO Decision yet

However small trend has built to the upside both GU and Eu , if we get a swing PB and break up i will take the long as that would mean D1 uptrend is continuing.

For the short side - it is still possible the we could see a deeper correction , however i will not trade it as it would be going against D1 which is in a strong uptrend

BTC


This appears to be forming a one-two-three pattern, indicating three waves down, followed by three waves up for a potential Wave B.
We could now be entering Wave C.

If the price bounces off a Fibonacci retracement level and breaks the series of lower lows and lower highs, it would signal that Wave 2 has concluded and the uptrend for Wave 3 has resumed.

However, there has not been a break in that series yet, so I would continue to focus on short opportunities on the lower time frames.

Yesterday, we saw another significant push down.
As long as the structure remains intact without a breakout, I would take short positions on pullbacks.


What we observed was a one-two-three pattern to the upside, forming a lower high followed by a strong engulfing move to the downside—offering a solid shorting opportunity.

Until we see a definitive break of the lower lows and lower highs—preferably on the four-hour time frame or higher—I would continue to focus on short trades. If and when that structure breaks to the upside, that would signal the end of the short bias and the beginning of long positions.

I still believe this is a Wave C of Wave 2, and it's likely to bounce off a Fibonacci level before breaking the structure.
Until that happens, the downtrend remains intact, and there are still opportunities to go short.

...price, @ the current p/back lo (of the current main dly upmove) is challenging where 3 prev sw hi zones meet = pot rbs.
Dly is in a general uptrend, 4hr is rangy-bullish, and 1hr is probably in a general uptrend, all correct as of now.

1hr below

come on wedgey

interesting how, whilst you had no money and were trading demo, you were disciplined in using a SL -
and now youre using real money you have immediately removed the SL.
youre risking 20% of your capital on 1 trade.
Has this ever ended well in the past?

NFP could be a non event. There are 2 Fed speeches after which could act as the mover

ideally would like not to be trading NFP unless I’m 30 pips in profit for which I would add 50 pips as a SL

Even if your not on Moty's ignore list, mentally everyone is on Moty's ignore list


I ended up on Moty's official ignore list for absolutely no reason

oh ive been on his ignore list for years haha
but i figure new traders can learn from his bad trading.
So although im quoting moty, im actually just pointing out the fallacies so newbies wont make the same mistakes.
Ive long given up on the notion he would ever listen to reason.

GU

Daily
On the daily time frame, I have applied my Fibonacci retracement levels, as I anticipate this current movement to be a Wave A, followed by a potential upward movement forming Wave B.
However, the move up appears quite strong, and with the upcoming nonfarm payroll data release today, I would typically expect a clear ABC correction.


Yet, given the steepness of the current upward movement, it seems less like a corrective wave and more like a continuation of the trend, which makes sense, as we are in Wave 3 on the higher time frames.( Daily/Weekly TF).

(NOTE : Wave 3 is usually the largest and strongest wave within a trend.)


H4
On the 4-hour time frame, I am expecting another downward move for Wave C.
Most USD pairs have completed a nearly perfect five-wave structure to the downside, indicating this could be Wave A.


The upward movement could represent Wave B, and the nonfarm payroll release may trigger a significant push downward for Wave C.
Perhaps after that, we could see the trend resume next week.

However, it's important to note that what often looks like Wave B can sometimes be the continuation of the overall uptrend.
When considering the higher time frames, which show we're in Wave 3, it leads me to believe the market might continue trending upward rather than correcting.



H1
On the 1-hour time frame, I am definitely watching for a potential short opportunity today.
The odds seem high that we might see an impulsive move down, a break of structure, and a push lower, forming Wave C as part of the larger correction, especially with the nonfarm payroll event.
However, given the strength of the current upward move, it looks more like a continuation of the trend rather than a corrective Wave B.

Considering that we're in Wave 3 across most higher time frames, it’s possible that today’s news could just lead to further upward momentum, continuing the trend.


So, keep a close eye on price action.

If we see a strong downward move, it would likely confirm the formation of Wave C, as expected on the higher time frames.
If not, then we could very well be looking at a continuation of the uptrend, all part of the larger Wave 3.

P/S This is not trade signal
As it is only my newbie analysis which are still in learning curve.
Can read but not to follow.
Thanks

...so the prev sw hi's = pot rbs give way, and the 1st upside b/o's of Asian hi and y/day hi prove false, (most 1st b/o's of anything are false.) Steepest 1hr asc t/line also gives way. Now challenging a prev 1hr minor sw lo zone = pot supp.

1hr below