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Cable Update (GBPUSD)

  • #837,921
  • Sep 12, 2024 2:58am Sep 12, 2024 2:58am
Quoting Yngwie
Sold 1.3054 SL 1.3074 TP 1.2950
h

Riding Short together.

However, caution at previous day low because market has already fallen into range.
If previous day low is broken, 1.2967 in view.

If support hold at yesterday's low, 1.3120 Resistant in view and these should be the best to Short.

Ensure proper risk management in all trades.
Market Structure is the King.....
  • #837,922
  • Sep 12, 2024 3:12am Sep 12, 2024 3:12am
My tp 1.29750 adr low
1.30000 is weekly s1
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yes yes yes
  • #837,923
  • Sep 12, 2024 3:24am Sep 12, 2024 3:24am
Quoting pipfarm
Could be a very nice down move on GBPUSD H1 correction viewed on M5 is a very nice A (abc for B) C - meaning a possible strong move down {image} {image}
Yup there is data today that can make it happen to, ECB first which could take us down by 30 pips followed by US data if green can complete the journey towards 12970 ish
Insane in the Brain..
  • #837,924
  • Sep 12, 2024 3:50am Sep 12, 2024 3:50am
Quoting BeeTogether
{quote} Yup there is data today that can make it happen to, ECB first which could take us down by 30 pips followed by US data if green can complete the journey towards 12970 ish
Sounds reasonable, at the moment price has moved back up to the top of A in my chart which would be old resistance became support now being retested after the break, seems to have rejected and coming down now. So i entered another batch short at that level
Follow The Markets Structure - Patience and Discipline
  • #837,925
  • Sep 12, 2024 3:52am Sep 12, 2024 3:52am
G/M, big > 30day adr dly candle y/day (lo @ Wkly S2) ended up with small bearish-body and long wicks either end, like a spinning top/doji. So far today, Asian up then London down to challenge Asian lo and now up again to challenge the current dly hi just above the Asian hi. Asian lo remains the current dly lo. 4hr and 1hr in general downtrends. Intraday pretty neutral so far.

...the prev 1hr/4hr sw lo zone = pot sbr @ current dly hi on 4hr extends up to circa 3068. Price is still below last wk's lo on this 3rd 4hr downside b/o of it.

4hr below
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Trader with an Edge.
  • #837,926
  • Sep 12, 2024 3:55am Sep 12, 2024 3:55am
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Contrarian
  • #837,927
  • Sep 12, 2024 3:58am Sep 12, 2024 3:58am
Quoting stdvenomenon
Shorting @1.30576, SL @ 1.30732
Didnt go to my preferred entry in my time bracket, so closing my order and looking again at 7 am NY.
  • #837,928
  • Sep 12, 2024 4:13am Sep 12, 2024 4:13am
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yes yes yes
  • #837,929
  • Sep 12, 2024 4:22am Sep 12, 2024 4:22am
short GU 3052, SL 3080
People don't plan to lose. They lose because they don't plan.
  • #837,930
  • Sep 12, 2024 4:40am Sep 12, 2024 4:40am
...1hr double bottom @ the Asian lo/current dly lo played out for a new current dly hi - price there challenging a 3 fib cluster still in the 4hr part of the prev 1hr/4hr sw lo zone = pot sbr that starts @ 3049 and extends to circa 3068. 50% of y/day hi - lo move in that cluster. 50% of current wkly hi-lo move is @ 3073.
83% of 13wk (1/4 yr) awr traveled so far this week.

1hr below
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Trader with an Edge.
  • #837,931
  • Sep 12, 2024 4:47am Sep 12, 2024 4:47am
Quoting pipfarm
Could be a very nice down move on GBPUSD H1 correction viewed on M5 is a very nice A (abc for B) C - meaning a possible strong move down {image} {image}
That did not go well , however the stop kept me in the trade , might just have to close manually or wait until it pulls back a bit to save some capital or just hold
Follow The Markets Structure - Patience and Discipline
  • #837,932
  • Sep 12, 2024 4:56am Sep 12, 2024 4:56am
Quoting pipfarm
{quote} That did not go well , however the stop kept me in the trade , might just have to close manually or wait until it pulls back a bit to save some capital or just hold
Bottom not in. It will range in the new channel and then dump to at least 3020.
  • #837,933
  • Sep 12, 2024 4:57am Sep 12, 2024 4:57am
...price's rise @ y/day's hi met sellers near top of the dly part of the prev 4hr/dly sw lo zone = pot sbr that begins @ 3087. Obviously reaction to U.s data later in the day helped the move down to y/day's lo @ Wkly S2.

dly below
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Trader with an Edge.
  • #837,934
  • Sep 12, 2024 4:57am Sep 12, 2024 4:57am
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yes yes yes
  • #837,935
  • Sep 12, 2024 5:02am Sep 12, 2024 5:02am
I don't think there is going to be much action until just b4 Euro interest rate decision....could be wrong
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Don't Leave Money on the Table
  • #837,936
  • Edited 5:34am Sep 12, 2024 5:07am | Edited 5:34am
...with 1hr and 4hr in general downtrends, and dly showing signs of weakness in it's own general uptrend, (with what will be a 1st LL when it forms fractally @ y/day's lo or lower, following the LH @ 3238,) there will probably be those 1hr+ players looking for a short entry, maybe on 1hr bearish hidden div for eg? Just a thought.

Intraday though is mildly bullish right now, . ...2hr's fractal swings after y/day's lo (a L on that t/f) are LH, HL, H, HL, and what will be a HH. 4hr's after y/day's lo (a L on that t/f) are a HL (@ asian lo) and what will be a H when it forms fractally.

Price @ current dly hi still in the 4hr part of that prev 1hr/4hr sw lo zone = pot sbr that extends up to circa 3068.

4hr below
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Trader with an Edge.
  • #837,937
  • Sep 12, 2024 6:20am Sep 12, 2024 6:20am
Quoting pipfarm
{quote} That did not go well , however the stop kept me in the trade , might just have to close manually or wait until it pulls back a bit to save some capital or just hold
Going to attempt the short again, there is a rejection candle with a wick at least 4 times the body right at SBR on H1

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Follow The Markets Structure - Patience and Discipline
  • #837,938
  • Sep 12, 2024 6:21am Sep 12, 2024 6:21am
Short position open again @1.30576.
  • #837,939
  • Sep 12, 2024 6:35am Sep 12, 2024 6:35am
Quoting HaLBot
I don't think there is going to be much action until just b4 Euro interest rate decision....could be wrong {image}
even then I don’t think it will be a big spike maybe 30 pips max
Insane in the Brain..
  • #837,940
  • Sep 12, 2024 6:35am Sep 12, 2024 6:35am
...this upcoming U.s data may have an effect? Obviously there are fib retraces of the y/day lo - current dly hi move between current price and current dly lo, below there; the longer-term fibs of the longer-term major moves up to 3266 current yrly hi are as below.

Fibs graphic then 1hr below
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Trader with an Edge.
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