Cable Update (GBPUSD)

Remember failure is just testing....

Don't expect too much if you do, you'll get hurt.

I think this has been played out already because we have a new week. What we need now is to follow the foot print that was left on the chart. Following the constant rule, I see price going up from 1.3360/70 and I will not changeover my mind set to sell until breakout of 1.3313 to the downside.

This may not work if there is a serious gap down due to MM weekend activities but up up is an high probability.

Yes, I reviewed after you mentioned but the charts are down due to market close. I will send a personal mail later to discuss further.

I just noticed that point B itself satisfied the total condition at the end of B despite deformity in the internal structure. I will apply a constant rule here .. I see price going up from 1.3360/70. The pullback just sighted is to make up for the deformity in internal structure.

I will not sell until breakdown of 1.3313. High probability Buy will be at 1.3313 if the support can hold. It's gonna be a jackpot.

Point B Butt should be 0.786 and not 0.88 earlier stated and I have noticed it works very well if internal structure is okay.

The only condition against me from here is the activities of the MM within this weekend.

Have a lovely weekend friend and all our buddies.

The problem with the $ is America's addiction to overspending spending like a drug addict has to his pipe.
The problem for the £ is Queer Kier's nutjob government ideas.

As of close of week;

* Mthly This t/f, if not in a general uptrend is rangy-bullish. The last trading day of the mth is this coming Monday, and the mthly candle looks as though it will @ least close with a bullish-body, with the close over last mth's close and possibly last mth's hi, although the length of any upper wick is up for grabs. 109% of the 6mth amr re it's current lo-hi has been traveled in the mth so far.
* Wkly 2nd week consecutively that a new current yrly hi has been created, with 106% of 13wk (1/4yr) awr traveled during the course of the week re lo-hi. This t/f closes the week out still in a general uptrend, and the wkly candle close was bullish-bodied, like a 'spinning top' type candle although @ a high, I don't know what you'd call this? It's certainly not an 'evening star' I don't think.
* Dly Interesting few days on this t/f. Weds saw a bearish engulf thrust candle, Thursday a bullish engulf thrust candle and Friday a bearish candle, although not quite dark cloud cover. The t/f closes the week in a general uptrend with the last 2 fractal prints on the t/f being the wkly 3334 hi - a HH, and the 3310 lo - a HL.
* 4HR The t/f closes the week out in a general uptrend, but it's rising channel bottom is under some threat re close of the last candle on this t/f - a bearish candle. The prev dly minor sw hi zone = pot res that extends up to 3737 (from March 2022,) has held out as resistance, as price met supply on 3 attempts on it, visible on this t/f.
* 1HR This t/f closes the week out rangy-bearish. It's last candle close was bearish.

Wkly, Dly, 4Hr (with 10/20/40 ema crosses graphic,) and 1Hr below

Just my view, might be wrong. Open to constructive criticism and maybe even better ideas

Here is my chart but the market is always right .

My view but market is the King.

take care, ok may give her another chance to bounce to top breaks , new top and fakeout possible , not does be better though . anyway very risky area s to play around till signal and confirmation any side .

weekly green last candle , no especial , may fall. daily engulfing but may not work , but try bounce likely !

Sunday analysis. Every good swing has to start somewhere. We are now very far away from the MAs on the daily, and a correction is looking probable. Have I nailed the top at 3424? The plan will be to see if we can break through this upward trend on the 1H. First target would be around 3320. Then if we can stay down, it will be back to the daily to see how far it can go, if it can go.

Remember, you only need a handful of sweet trades per year to make a nice living

Possible Gap up Sunday open to 3396 before continuing the drop

15 minute shows a micro trend down swing one, with a MMs Pattern forming at the lows and could be heading for the 3396 RBS to pick up sell orders waiting there.

Alternatively we might hit the 3360 lows to complete the MMs pattern before heading up to 3396 and then continue the drop

GU down & up & down..... hehehehehe

MY TP = 1.294XX.

what is your view?!

Thinking up... with caution.

I am willing to buy at the current price on the condition that the Internal Structure in B is not yet completed and should be formed after breakout of the current high.

Thereafter, a pullback to C for another 2nd entry.

thanks for clarity my friend. Best to your trading.

fwiw may be a long or short depending on how it trades. Good area to enter long as long it can hold the 1.3375 area.

GBPUSD price action on the daily time frame is ranging just below the 78.6 fib retracement area of the bearish swing traceable to May 2021. Also, recent price action has produced a rising but narrowing wedge (red), which, technically indicates a slowing down of bullish momentum.

I may be wrong. Trade safe and prosper.

KP

H1

the holy grail is patience