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Cable Update (GBPUSD)

  • #839,241
  • Sep 24, 2024 2:46am Sep 24, 2024 2:46am
EJ looking for sell medium term to 152.xx
People don't plan to lose. They lose because they don't plan.
  • #839,242
  • Sep 24, 2024 2:55am Sep 24, 2024 2:55am
Quoting ScalaFX
EJ looking for sell medium term to 152.xx
Not sure how your seeing that because H1 reversed the correction from the 158.93 low and is now trending up.
Follow The Markets Structure - Patience and Discipline
  • #839,243
  • Sep 24, 2024 2:59am Sep 24, 2024 2:59am
Quoting pipfarm
{quote} Not sure how your seeing that because H1 reversed the correction from the 158.93 low and is now trending up.
Im looking at h4, 161 huge res, also h4 engulf bearish tested now, pattern will be invalidated if price break structure
People don't plan to lose. They lose because they don't plan.
  • #839,244
  • Edited 3:20am Sep 24, 2024 3:00am | Edited 3:20am
short at : 1.3349
Sl : 1.3364(sl hit)
Tp : TBD
  • #839,245
  • Sep 24, 2024 3:03am Sep 24, 2024 3:03am
G/M, 4th consecutive bullish-bodied dly candle y/day took us to a new current yrly hi. So far today Asian session makes a false 1st b/o of that to another new current yrly hi, and falls back in early London, finding buy the dip demand in a prev 1hr sw hi zone = pot rbs.

1hr below
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Trader with an Edge.
  • #839,246
  • Sep 24, 2024 3:16am Sep 24, 2024 3:16am
Quoting ScalaFX
{quote} Im looking at h4, 161 huge res, also h4 engulf bearish tested now, pattern will be invalidated if price break structure
H4 is the correction, i was looking at it on H1 to see the internals, immediate resistance not so important as price is trending out of a correction
Follow The Markets Structure - Patience and Discipline
  • #839,247
  • Sep 24, 2024 3:18am Sep 24, 2024 3:18am
...so, price trades above the dly, wkly, mthy, and yrly pivot (this @/around 2558.) Wkly, dly, 4hr and 1hr are in 'general' uptrends. Intraday is currently bullish. Price is currently above last mth's hi, and currently above last wk's hi. It's still a bullish scenario overall.

Calculated pivots, and fibs, to the upside:

3376 Mthly R1
3389 Dly R1
3401 Wkly R1
3429 Dly R2
3477 Wkly R2
3500 Dly R3
3606 Midpoint Yrly R1-Yrly R2
3621 Wkly R3/Mthly R2
3681 85.4% 4249-0327
3761 50% 7195-0327
3788 61.8% 5930-0427
3898 Yrly R2
3902 76.4% 5016-0327
3977 Mthly R3
Trader with an Edge.
  • #839,248
  • Sep 24, 2024 3:30am Sep 24, 2024 3:30am
Quoting ScalaFX
{quote} Im looking at h4, 161 huge res, also h4 engulf bearish tested now, pattern will be invalidated if price break structure
Immediate resistance usually fails when the prior upswing is part of a downside correction which i have mentioned before and this is why retail traders always try and short the tops and long the bottoms
Follow The Markets Structure - Patience and Discipline
  • #839,249
  • Sep 24, 2024 3:43am Sep 24, 2024 3:43am
If the current hourly candle close above 1.3360, buyer has taken over. Next Resistant is 1.4420 equating EWN 5 of my own daily chart count. It's more likely to witness a correction/reversal to the downside from this point.

Risk Management is key in all trade entries.

Wishing all buddies a nice pipping day.
Market Structure is the King.....
  • #839,250
  • Sep 24, 2024 3:45am Sep 24, 2024 3:45am
...Bit blind on 1hr and 4hr right now re pot res/sbr factors to the upside other than fibs and calculated pivots. I posted this chart late y/day... it is scrolled back to see the pot res/sbr factors - on this wkly chart, so can't see the hard right edge. They date back to early 2022 and before that. Price @ the current dly hi is in once disrespected (hence hollow) prev sw lo zones = pot sbr on this wkly t/f. They extend up to circa 3395?

wkly below
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Trader with an Edge.
  • #839,251
  • Sep 24, 2024 3:56am Sep 24, 2024 3:56am
Quoting Abeylyn
If the current hourly candle close above 1.3360, buyer has taken over. Next Resistant is 1.4420 equating EWN 5 of my own daily chart count. It's more likely to witness a correction/reversal to the downside from this point. Risk Management is key in all trade entries. Wishing all buddies a nice pipping day.
I think 1.3420 and not 1.4420. System down. Can't view the larger picture here ..
Market Structure is the King.....
  • #839,252
  • Sep 24, 2024 3:57am Sep 24, 2024 3:57am
...Mthly R1 met.
--------------------
...it was ever thus;
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Trader with an Edge.
  • #839,253
  • Sep 24, 2024 3:59am Sep 24, 2024 3:59am
Quoting Headland
...Mthly R1 met. -------------------- ...it was ever thus; {image}

Classic get the retails short then wipe em out
Follow The Markets Structure - Patience and Discipline
  • #839,254
  • Sep 24, 2024 4:05am Sep 24, 2024 4:05am
Weekly trend. Daily entry
Come on people, get your shit together!
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Emotional Control. Process, not outcome.
  • #839,255
  • Sep 24, 2024 4:08am Sep 24, 2024 4:08am
All this without a test of the daily pivot. Even EU isn't moving higher than its highs. I guess there is a lot of cannon fodder money flowing in GU to make the rise unrelenting. Without a test of the daily pivot two things usually happen:

1. Price comes back to test it later.
2. There is a plan to move in one direction non-stop.
  • #839,256
  • Sep 24, 2024 4:08am Sep 24, 2024 4:08am
Eurusd overshoot over 1129/ 43 and at a good resistance , so short see it for limit 1120 to 10. . May gbpusd too , to check !
Gbpusd 3378 was good resistance , may test support next 3360.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #839,257
  • Sep 24, 2024 4:11am Sep 24, 2024 4:11am
weekly chart.

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Its all just one persons opinion
  • #839,258
  • Edited 4:39am Sep 24, 2024 4:15am | Edited 4:39am
Quoting Konichiwhaat
Weekly trend. Daily entry Come on people, get your shit together! {image} {image}
That is a great entry... Find a trend, - if it exists on the next higher t/f (+) so much the better, await a pullback to a potential rbs/sbr zone/fibs on that trending t/f, and find A with trend entry trigger after the p/back, on the next lower t/f, (hidden div on that next lower/entry t/f can help here.) Some can even drop down another t/f to find the o/b -or- o/s -or- regular div set-ups to better time the entry. Nice!

dly below
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Trader with an Edge.
  • #839,259
  • Sep 24, 2024 4:17am Sep 24, 2024 4:17am
Expecting GBPUSD to peak around 1.3420 and then looking to short it at that level to AUG high of 1.3270 - this should play out in next 2 weeks
  • #839,260
  • Sep 24, 2024 4:23am Sep 24, 2024 4:23am
Quoting IgorGG
Expecting GBPUSD to peak around 1.3420 and then looking to short it at that level to AUG high of 1.3270 - this should play out in next 2 weeks
Hi. That's just below the 1.618 extension of the 3266-3001 swing, (3429,) 3399 is the 1.5 ext of it.

dly below
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