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Cable Update (GBPUSD)

  • #837,321
  • Sep 6, 2024 5:14am Sep 6, 2024 5:14am
Quoting Whale
{quote} i think we will see 1.308X base weekly chart. With very good nfp numbers 1.293
could be. I am long at the moment picking up a few pips here and there. Will TP on this trade in a bit and probably wait for NFP


edit: took profit 4 pips plus the 10 from earlier
Insane in the Brain..
  • #837,322
  • Sep 6, 2024 5:15am Sep 6, 2024 5:15am
...interesting that forecasts for the NFP Headline # haven't moved much if at all in light of the weaker than expected ADP private payrolls # of +99k. (This site still going with +164k for eg.) Of course NFP has public sector jobs in the # as well. Food for thought?
--------------------------------------------------------------------------------------------------------------

Competing hammers,! ie; last 4hr close was a bearish hammer -versus- last 1hr close was bullish hammer.

4hr below
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Trader with an Edge.
  • #837,323
  • Edited 5:33am Sep 6, 2024 5:16am | Edited 5:33am
Quoting BeeTogether
{quote} could be. I am long at the moment picking up a few pips here and there. Will TP on this trade in a bit and probably wait for NFP
you are on the right side.

Im on the adventure side

The weekly chart here below, trend is good but i can't ignore last week candle range.
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  • #837,324
  • Sep 6, 2024 5:19am Sep 6, 2024 5:19am
Quoting ScalaFX
{quote} widen my SL to 3220 for news, target will be 3050 hope for 100 pip move down, if not
added some from 3170 to 3180 stops there, iI will buy every down move and can br not able to update, but first I wonna see this low numbers
People don't plan to lose. They lose because they don't plan.
  • #837,325
  • Sep 6, 2024 5:23am Sep 6, 2024 5:23am
Quoting fontu
{quote} may correct below 5400 to 5100 . watching it ! {image} {image}

SPX 500

Bro,
apology for missing your post as seldom spending time in FF.

Thus on Dailly TF we’ve completed five waves up, so we're likely entering a correction phase.
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This could result in an ABC correction, possibly pulling back to lower Fibonacci levels before resuming the uptrend.

With the break of structure on the daily time frame, we should be looking for short opportunities.


On the H4, the current downtrend appears to be part of Wave A.
While an upside move could happen soon, it's likely to be a correction (Wave B) within this larger downtrend.
After that, we could see a final push down for Wave C.
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However, there's no guarantee of an immediate move up.
The market may continue drifting lower, forming a larger Wave A.



On the H1, as long as we see lower lows and lower highs, be cautious about going long, as the downtrend remains intact.
Eventually, we should expect a break to the upside for the corrective Wave B, followed by a drop to complete Wave C.
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For now, though, the trend is still down, and we need to wait for a clear signal that the wave has ended.

This is just my noob's perspective on the SPX, so please be cautious and don't take it as a trading signal.
I'm still learning.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #837,326
  • Sep 6, 2024 5:30am Sep 6, 2024 5:30am
Quoting BeeTogether
{quote} I did similar, could be a good RR. However NFP could be messy
Right. I'll be cautious, thanks.
  • #837,327
  • Sep 6, 2024 5:30am Sep 6, 2024 5:30am
...everything you see on your charts right now from potential supp/res/sbr/rbs, to chart conditions (rangy or trending,) NFP has the potential to change. It might - it might not, none of us know until we see the numbers and how the market reacts.
-------------------------------------------------------------------------------------------

...so the 1st downside b/o of Asian lo proved false, challenging that 30min pot sbr zone now.

1hr below
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Trader with an Edge.
  • #837,328
  • Sep 6, 2024 5:31am Sep 6, 2024 5:31am
Quoting Headland
...interesting that forecasts for the NFP Headline # haven't moved much if at all in light of the weaker than expected ADP private payrolls # of +99k. (This site still going with +164k for eg.) Of course NFP has public sector jobs in the # as well. Food for thought? -------------------------------------------------------------------------------------------------------------- Competing hammers,! ie; last 4hr close was a bearish hammer -versus- last 1hr close was bullish hammer. 4hr below {image}
thing is NFP forecast is a huge move up from last month. This could fail ..
Insane in the Brain..
  • #837,329
  • Sep 6, 2024 5:35am Sep 6, 2024 5:35am
Quoting 19monza64
{quote} Great Pat, your reasoning is flawless. Any view on Gold?
GOLD

on gold I'm "Stuck between two hard places"
Im waiting for ABC correction on H1 before going up.
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P/S Let me hear what your view on GOLD.
I come back later to update GOLD set up with proper analysis.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #837,330
  • Sep 6, 2024 5:47am Sep 6, 2024 5:47am
Quoting BeeTogether
{quote} thing is NFP forecast is a huge move up from last month. This could fail ..
Hi, yeh, I too am not seeing it. Why would the forecasts be as high as +164k? Maybe the Govt hired loads of people? If the actual # is anything like the forecast I would imagine there might be an upside revision of that previous mth's +114K actual #,? but again, ADP is pointing to a weaker #, at least as far as private payrolls additions go. We'll see.
Trader with an Edge.
  • #837,331
  • Sep 6, 2024 5:51am Sep 6, 2024 5:51am
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yes yes yes
  • #837,332
  • Sep 6, 2024 5:59am Sep 6, 2024 5:59am
Goldman sachs estimate
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More time in the market, does not mean you trade better!
  • #837,333
  • Sep 6, 2024 6:08am Sep 6, 2024 6:08am
Quoting Pat Chiko
{quote} GOLD on gold I'm "Stuck between two hard places" Im waiting for ABC correction on H1 before going up.{image} P/S Let me hear what your view on GOLD. I come back later to update GOLD set up with proper analysis.
My view is very easy.
I am looking W chart. Down we have EQL up we have liquidity to fill.
in the middle I do not find significant IRL
What I wold like is take liquidity over and under. Maybe NFP will give us an opportunity. I do not like your sell but I would leave them where they are. If the price takes liquidity above and then falls I would add positions. The hope is that it will take liquidity from the EQL below
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  • #837,334
  • Sep 6, 2024 6:11am Sep 6, 2024 6:11am
Quoting 19monza64
{quote} My view is very easy. I am looking W chart. Down we have EQL up we have liquidity to fill. in the middle I do not find significant IRL What I wold like is take liquidity over and under. Maybe NFP will give us an opportunity. I do not like your sell but I would leave them where they are. If the price takes liquidity above and then falls I would add positions. The hope is that it will take liquidity from the EQL below {image}
Daily structure still intact.
More time in the market, does not mean you trade better!
  • #837,335
  • Sep 6, 2024 6:37am Sep 6, 2024 6:37am
Quoting palpite
{image} {image}
GBPUSD - Sell

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Together we can be strongest
Vantage Return This Month: na
  • #837,336
  • Sep 6, 2024 6:40am Sep 6, 2024 6:40am
Come on!!!!!!!!!!
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yes yes yes
  • #837,337
  • Sep 6, 2024 7:20am Sep 6, 2024 7:20am
...re NFP in 10min, remember - it can be a fine line!
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Trader with an Edge.
  • #837,338
  • Sep 6, 2024 7:26am Sep 6, 2024 7:26am
Quoting Headland
...re NFP in 10min, remember - it can be a fine line! {image}
stops in place… TP in place
Insane in the Brain..
  • #837,339
  • Sep 6, 2024 7:31am Sep 6, 2024 7:31am
m5 green,but m30 started red before nfp
  • #837,340
  • Sep 6, 2024 7:33am Sep 6, 2024 7:33am
Data seems a miss
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Insane in the Brain..
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