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Cable Update (GBPUSD)

  • #839,901
  • Sep 29, 2024 5:40pm Sep 29, 2024 5:40pm
Quoting donfriday
the holy grail is patience
Which direction are you referring to apply patience towards, GBP/USD and EUR/USD bullish or bearish?
You cannot fail if you never give up.
  • #839,902
  • Sep 29, 2024 6:03pm Sep 29, 2024 6:03pm
Quoting 7154Superman
{quote} Which direction are you referring to apply patience towards, GBP/USD and EUR/USD bullish or bearish?
bullish for me
  • #839,903
  • Sep 29, 2024 7:30pm Sep 29, 2024 7:30pm
Hello folks a bit late . I’m going to sit out sidelines and going to hopefully see bullish buys around 1.11000 zone !
Master your mind. Master Trading.
  • #839,904
  • Edited 10:12pm Sep 29, 2024 9:37pm | Edited 10:12pm
Quoting Godspromise
{quote} bullish for me
Please tell me how this looks bullish.
Green line is my short TP on the 3rd chart with daily time frame candles. My thought is price may reach it within 3 weeks from now.
What's the counter (bullish) argument? Show with charts please. Thanks!
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You cannot fail if you never give up.
  • #839,905
  • Sep 29, 2024 10:11pm Sep 29, 2024 10:11pm
Checking pa , still a chance to risky bounce before correct down further. More likely in gbpusd than eurusd . !take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #839,906
  • Sep 29, 2024 10:38pm Sep 29, 2024 10:38pm
Quoting 7154Superman
{quote} Please tell me how this looks bullish. Green line is my short TP on the 3rd chart with daily time frame candles. My thought is price may reach it within 3 weeks from now. What's the counter (bullish) argument? Show with charts please. Thanks! {image}{image} {image}
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Notice the 4 hr area marked in blue it broke it and retest it and is bouncing to the upside I mark out all the explosive demand and supply areas where there are extreme sells and extreme buys this is a area where extreme buys takes place if broken above
  • #839,907
  • Sep 30, 2024 12:11am Sep 30, 2024 12:11am
Quoting Godspromise
{quote} {image} Notice the 4 hr area marked in blue it broke it and retest it and is bouncing to the upside I mark out all the explosive demand and supply areas where there are extreme sells and extreme buys this is a area where extreme buys takes place if broken above
So, basically, you're saying, technically, it's bullish until price goes down below that blue bullish supply/demand area in your chart and stays below. Also, you're looking at GBP/USD, and I'm looking at EUR/USD. Even though they correlate a lot, there could be a difference, at least short term.
Your analysis is interesting, yet once the down move is on, it's a bit late for me to jump in with a short position until it bounces up again (if that even happens at all) and fails to break up through that area before continuing down. I see a short/medium term swing pivot coming to the downside, at least for a few weeks, but it might take a few more days of trying to break out up before succumbing to the bearish pressure. One way to see this is in the MACD of the daily chart. While price action was making a double top, MACD stayed depressed, which is a sign that bears are starting to push things down and are ready to take over with power once the bulls fail. I am prepared to short more higher up once I get more confirmation of bullish momentum failure.

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You cannot fail if you never give up.
  • #839,908
  • Sep 30, 2024 12:46am Sep 30, 2024 12:46am
Quoting 7154Superman
{quote} So, basically, you're saying, technically, it's bullish until price goes down below that blue bullish supply/demand area in your chart and stays below. Also, you're looking at GBP/USD, and I'm looking at EUR/USD. Even though they correlate a lot, there could be a difference, at least short term. Your analysis is interesting, yet once the down move is on, it's a bit late for me to jump in with a short position until it bounces up again (if that even happens at all) and fails to break up through that area before continuing down. I see a short/medium...
exacto mudo bro and its up 20 pips right you maybe bank amother twenty for london and maybe 20 again new york
  • #839,909
  • Sep 30, 2024 12:49am Sep 30, 2024 12:49am
Quoting 7154Superman
{quote} So, basically, you're saying, technically, it's bullish until price goes down below that blue bullish supply/demand area in your chart and stays below. Also, you're looking at GBP/USD, and I'm looking at EUR/USD. Even though they correlate a lot, there could be a difference, at least short term. Your analysis is interesting, yet once the down move is on, it's a bit late for me to jump in with a short position until it bounces up again (if that even happens at all) and fails to break up through that area before continuing down. I see a short/medium...
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It's the same for eurusd bullish it's slightly lagging but audusd gbpusd eurusd all on the same pattern notice my chart this is eurusd look at the pattern you would still be up at least 20 pips here as well
  • #839,910
  • Sep 30, 2024 12:59am Sep 30, 2024 12:59am
Quoting 7154Superman
{quote} So, basically, you're saying, technically, it's bullish until price goes down below that blue bullish supply/demand area in your chart and stays below. Also, you're looking at GBP/USD, and I'm looking at EUR/USD. Even though they correlate a lot, there could be a difference, at least short term. Your analysis is interesting, yet once the down move is on, it's a bit late for me to jump in with a short position until it bounces up again (if that even happens at all) and fails to break up through that area before continuing down. I see a short/medium...
And this is the reason why risk management is key. Both parties are correct based on analysis and perception but MM will come in and push price to either of the two directions. If A is correct today, it doesn't invalid B's strategy because next time price will definitely play in B's direction.

Besides, the intention to buy is basically to follow the trend viewing mainly from 4 hours chart. It's obvious that buy trend is saturated even in 4hrs but trend traders will wait until the low is broken to the downside.

Meanwhile, daily chart momentum deviation from lower trend is very powerful. Ability to identify it is key but timing of entry also take much more experience.

Have a nice pipping week friends.
Market Structure is the King.....
  • #839,911
  • Sep 30, 2024 1:13am Sep 30, 2024 1:13am
Quoting Headland
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, ...
G/M, ... my w/e analysis refers. So, Asian session just closed was up, then an early London sell-off from bottom of a prev 30min sw lo zone = pot sbr. The Asian hi and Asian lo are the current dly hi and lo presently. Friday's hi and lo not troubled by price so far.

A lot of talk re possible 'trend exhaustion' over the w/e re 4hr/dly/wkly uptrends. Will this be borne out this week, or not? Intraday still bullish so far, 1hr rangy.

1hr below
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Trader with an Edge.
  • #839,912
  • Sep 30, 2024 1:31am Sep 30, 2024 1:31am
Morning all! Here’s to another week of trading drama. Might see some swings today being last day of month for some reason I thought that would have been Friday. But here we are .. maybe a move up to 13430-50 before a down?

lots of data that could have an impact this week too. If US data is mainly green it may take away the chances of a 0.5 cut in November. Which could push the USD up
Insane in the Brain..
  • #839,913
  • Edited 2:07am Sep 30, 2024 1:53am | Edited 2:07am
I'm shorting away from the high of last week, dealing desk having jammed longs on Friday are likely to drop the market in a swing low, releasing liquidity and lining their pockets on longs jammed at the end of last week. I'm wary about trading back towards peak formations that take several days to fully develop, as it indicates major players entering the market, subduing price from trending. I never recommend trading back toward a peak formation after they make a pullback, without a confluence of signals. It's all bout price, time, and volume.

Buyers beware.
Discouragement is the language of the devil. Results over hype.
  • #839,914
  • Sep 30, 2024 1:55am Sep 30, 2024 1:55am
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yes yes yes
  • #839,915
  • Sep 30, 2024 2:00am Sep 30, 2024 2:00am
...the 30min/1hr range has narrowed. B/o soon either way?

1hr below
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Trader with an Edge.
  • #839,916
  • Sep 30, 2024 2:01am Sep 30, 2024 2:01am
Quoting pipfarm
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
Banked 19K with my open trades posted Friday

3396 on the nose and price has stalled

Price is now moving in a sideways range so a break out there at some point could occur.

The chart is not definitive but just potentially what could happen, i find it difficult to see any further upside at the moment

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Follow The Markets Structure - Patience and Discipline
  • #839,917
  • Edited 2:48am Sep 30, 2024 2:09am | Edited 2:48am
...as I mentioned over the w/e, 3 attempts now to get north of that prev minor dly sw hi zone = pot res (from March 2022) that extends up to 3437, and the fractal swings staring @ the 2nd attempt (last week's 3434 hi) on 4hr are HH, HL, LH, and a HL.

4hr below (with 10/20/40 ema crosses graphic.)
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Trader with an Edge.
  • #839,918
  • Edited 2:39am Sep 30, 2024 2:27am | Edited 2:39am
...a false 1st upside b/o of the Asian hi and supply met @ base of the prev 30min sw lo zone = pot sbr again, resulting in a fall to a prev 1hr sw lo zone = pot supp, breaking the 4hr asc t/line in the process (just.) Maybe some tight sell limits/buy retail stops triggered above the Asian hi?

1hr below
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Trader with an Edge.
  • #839,919
  • Sep 30, 2024 2:33am Sep 30, 2024 2:33am
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E. and BP 5' --- Yes, it can BO both ways...but I prefer the downside and have risked shorts in both curr.

SL s as shown, tight.

  • #839,920
  • Sep 30, 2024 2:44am Sep 30, 2024 2:44am
... ' intraday noise ' right now I guess, but decent supp/res plays on the lower t/f.s

1hr below
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Trader with an Edge.
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