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Cable Update (GBPUSD)

  • #838,341
  • Sep 17, 2024 3:41am Sep 17, 2024 3:41am
Quoting TheHusla
{quote} I would tend to agree. To me, it looks like it might go for liquidity at 1.32388. Big Supply zone that we reached yesterday hasn't managed to cause any significant break of structure yet. Not even a push down for liquidity (my trade yesterday). Previous daily candles still pushing strong. I know I went short yesterday but it was an exception, not my usual style of trading. H4+ looks massively bullish yet to me.....
Next up GBPUSD LONGS
Reason for trade as above.
H1 nice push.
Nice engulf from M5 zone.
That wick on the left on H1 should get filled today.
LN open push down for liquidity happened and then created a new HH signalling longs.

Currently not sure about breakeven strategy, need to see how the trade develops as nothing obvious to the left.
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  • #838,342
  • Edited 3:52am Sep 17, 2024 3:42am | Edited 3:52am
G/M, big > 30day adr bullish thrust candle close on dly y/day. Of last week's wkly candle, and Friday's dly candle (both pinbars and a mirror image of each other,) - price chose the upside for an upside follow-thru of the wkly candle. So far today a small range Asian session, a false 1st downside b/o of the Asian lo and then a false 1st downside b/o of the Asian hi - 2nd upside b/o now just going north of y/day's hi, deeper in that prev 1hr/4hr/dly sw hi zone = pot res that extends up to 3238-current mthly hi.

1hr below
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Trader with an Edge.
  • #838,343
  • Edited 4:04am Sep 17, 2024 3:47am | Edited 4:04am
...so 1hr, 4hr, dly and wkly t/f's all in general uptrends, and intraday is presently bullish. The shorter ema's all presently green too, re upward crosses. Price is already in the wkly part of the prev 1hr/4hr/dly/minor wkly sw hi zone = pot res that extends up to 3266 - the current yrly hi.

3227 is 85.4% of the 3266-3001 move down, and Dly R1/Wkly R2 are @/around 3250.

4hr below (with 10/20/40 ema crosses graphic.)
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Trader with an Edge.
  • #838,344
  • Sep 17, 2024 3:51am Sep 17, 2024 3:51am
Quoting TheHusla
{quote} I would tend to agree. To me, it looks like it might go for liquidity at 1.32388. Big Supply zone that we reached yesterday hasn't managed to cause any significant break of structure yet. Not even a push down for liquidity (my trade yesterday). Previous daily candles still pushing strong. I know I went short yesterday but it was an exception, not my usual style of trading. H4+ looks massively bullish yet to me.....
Thanks so much dear mate. My entry for buy was initiated at 1.3200 with Stoploss of just 20 pips. Watching from 5 minutes chart, I will break even any moment from now and allow it to run.

I already missed the high probability entry and will allow this to run. My target is 1.3312. Partial profit will continually be secured.

I hope it's really attainable.
Market Structure is the King.....
  • #838,345
  • Sep 17, 2024 3:54am Sep 17, 2024 3:54am
Quoting Georginson
Should current high of 1.3216 hold, then 1.3066 should be a realistic target this week. This current week has little or no lower shadow and rate cut seem to have been priced in.
not a logical reading of the open
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #838,346
  • Sep 17, 2024 3:55am Sep 17, 2024 3:55am
Quoting HaLBot
Looks like we have some buying of 1.3080
Quoting elude
{quote} I did, 1.30668
Quoting elude
{quote} {quote} Still in play and two more added
Set SL/TP on all 3 trades:
SL 1.32074
TP 1.32360
  • #838,347
  • Sep 17, 2024 3:55am Sep 17, 2024 3:55am
Taken a hit here we may see a slow move up to the years high before FOMC which would be a good area for a short
Insane in the Brain..
  • #838,348
  • Sep 17, 2024 4:04am Sep 17, 2024 4:04am
Quoting BeeTogether
Taken a hit here we may see a slow move up to the years high before FOMC which would be a good area for a short
Possible.

I want to be out of trades before news/data release.
  • #838,349
  • Sep 17, 2024 4:06am Sep 17, 2024 4:06am
...gmt/utc+3 price feed 4hr just closed v.bullishly, 5mins ago. 66% of 13wk awr travled so far this week already, 60% of 6mth amr so far this mth.

U.s Retail Sales later today may have an impact. Uk Cpi tomorrow, and then the 'main course' the Fomc rate decision tomorrow as well. 'With volatility (and momentum) comes potential opportunity!'
Trader with an Edge.
  • #838,350
  • Sep 17, 2024 4:20am Sep 17, 2024 4:20am
hello to all
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  • #838,351
  • Sep 17, 2024 4:23am Sep 17, 2024 4:23am
Quoting elude
{quote} Possible. I want to be out of trades before news/data release.
me too.. idea is to be take profit well in advance. Use the data in the morning for a few pips etc until FOMC the either board the rocket or slide depending. If it is 0.25 then there is a potential 200-300 pips awaiting
Insane in the Brain..
  • #838,352
  • Sep 17, 2024 4:25am Sep 17, 2024 4:25am
Quoting BeeTogether
{quote} me too.. idea is to be take profit well in advance. Use the data in the morning for a few pips etc until FOMC the either board the rocket or slide depending. If it is 0.25 then there is a potential 200-300 pips awaiting
Hi mate, what do you expect if only a -0.25% cut, a move to the downside or upside re gbpusd? Thanks.
Trader with an Edge.
  • #838,353
  • Sep 17, 2024 4:35am Sep 17, 2024 4:35am
Quoting Headland
{quote} Hi mate, what do you expect if only a -0.25% cut, a move to the downside or upside re gbpusd? Thanks.
hi mate, if it is a 0.25 then we could see a 200-300 drop over the week as we have seen a move up on the rumours for 0.5. Could be a classic buy the rumour sell the fact. If we do see 0.5 then 100-150 up could happen initially unless the meeting after indicates not to expect more cut until so early next year.

Then in Thursday we have BoE once again no cut is priced in. Can’t see a cut either however when if Bailey indicates a cut a couple of cuts this year we could see a drop too.

all in there is a potential 100-300 pips in the offering this week
Insane in the Brain..
  • #838,354
  • Sep 17, 2024 4:35am Sep 17, 2024 4:35am
Quoting BeeTogether
{quote} hi mate, if it is a 0.25 then we could see a 200-300 drop over the week as we have seen a move up on the rumours for 0.5. Could be a classic buy the rumour sell the fact. If we do see 0.5 then 100-150 up could happen initially unless the meeting after indicates not to expect more cut until so early next year. Then in Thursday we have BoE once again no cut is priced in. Can’t see a cut either however when if Bailey indicates a cut a couple of cuts this year we could see a drop too. all in there is a potential 100-300 pips in the offering this week
Thankyou, that is an entirely feasible scenario.
------------------------------------------------------------------------------------------------------------------

...price has been in the dly part of the prev 1hr/4hr/minor dly sw hi zone = pot res that extends up to 3238 (current mthly hi) for a while, and of course the current dly hi is in the 1hr and 4hr parts too. The 1hr, 4hr, and dly parts of the prev 1hr/4hr/dly/wkly sw hi zone that extends up to 3266 (current yrly hi)= pot res are narrow, and the dly part being the widest of them starts circa 3255. This prev sw hi zone is of course the 1st test on a prev dly/wkly sw hi zone = pot res that extends up to 3298, and the top of the former zone is coexistent with the later.

Dly below
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Trader with an Edge.
  • #838,355
  • Sep 17, 2024 4:35am Sep 17, 2024 4:35am
Quoting Moty
{quote} Come on mister uj also {image} {image}
GO !!!!!!!!!!!
  • #838,356
  • Sep 17, 2024 4:38am Sep 17, 2024 4:38am
Come on mister goldi
Tp 2557 adr low
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yes yes yes
  • #838,357
  • Sep 17, 2024 4:39am Sep 17, 2024 4:39am
Quoting Bones
{quote} not a logical reading of the open {image}
Should is a conditional word... Not certain. So no need over emphasizing on this. My bias is now bearish already close to the year top . I will start building short from 1.3230 all the way to 1.3330 for a target of 1.3000.
Data + Stat + Risk/Emotions Management
  • #838,358
  • Sep 17, 2024 4:42am Sep 17, 2024 4:42am
Quoting BeeTogether
{quote} hi mate, if it is a 0.25 then we could see a 200-300 drop over the week as we have seen a move up on the rumours for 0.5. Could be a classic buy the rumour sell the fact. If we do see 0.5 then 100-150 up could happen initially unless the meeting after indicates not to expect more cut until so early next year. Then in Thursday we have BoE once again no cut is priced in. Can’t see a cut either however when if Bailey indicates a cut a couple of cuts this year we could see a drop too. all in there is a potential 100-300 pips in the offering...

And of course a -0.5% (or greater = unlikely) cut, particularly with hints of more to come will likely see an explosion to the upside re gbpusd, and of course appropriate reciprocal moves in other instruments.
Trader with an Edge.
  • #838,359
  • Sep 17, 2024 4:57am Sep 17, 2024 4:57am
Quoting Headland
{quote} And of course a -0.5% (or greater = unlikely) cut, particularly with hints of more to come will likely see an explosion to the upside re gbpusd, and of course appropriate reciprocal moves in other instruments.
yup.. there also a theory this will be the only cut this year as we have the election very soon
Insane in the Brain..
  • #838,360
  • Sep 17, 2024 5:01am Sep 17, 2024 5:01am
As tough areas to play any , checking usdx , retesting demand again , may further penetrate into it but likely a bounce for the last time possible before great tanking usdx !
So gbpusd both previous tops at risk breaking !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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