Cable Update (GBPUSD)

Quoting BeeTogether

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Was it data that opened the trapdoor? one minute it was looking to tease 134 again the next it drops by 50 odd pips

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Quoting Konichiwhaat

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{quote} Just a break of structure at 50. More people on the one side than the other, a reflection of the fast run up to the left

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Quoting BeeTogether

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{quote} fair enough… I will keep holding onto my long for a day or so. Looking for a test of 13430 maybe today around JOLTS

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Quoting Konichiwhaat

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{quote} Sweet. As long as you have your losses covered one way or another. Personally, I am going for the short long term. But I still wish you all the best, as it is only a game at the end of the day

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Quoting BeeTogether

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{quote} you too buddy! I do feel I missed a great short on Monday

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Quoting Abeylyn

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Looking for high probability point to Short GU. The only two relevant points worthy to resist short are 1.3313 and 1.3267/75. All internal swings that are to act as resistance against Short are seen as inside bar of the range established from 1.3313 and the current high 1.34337.

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Quoting imjoshbrown

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{quote} Whew!! Look at that nasty flash of equity to the downside! Longs like myself from yesterday got stopped out. Re-entered long off the 800EMA outside the 30-pip long, I anticipated this is the second leg of the W in a multi-day W formation developing. The market extended today's low of the day, but it's also trading above the high of the week in September, 1.33395. Price is chilling outside the zone but appears to have come to a halt. Let's see if we get a reversal! {image}

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Quoting imjoshbrown

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{quote} A deep 45 pip stop hunt low with a intrasession W formation off the 800 EMA - a confluence of signals - stops in place, but I'm thinking we'll see some action leading up to the US session. I'll be trading either to ADR high as seen in the screenshot or to last week's high, 1.34334. If y'all aren't aware, I believe we're rearing up for a massive move to the upside, fueled by the ILA strikes happening as of midnight here in the US. They facilitate almost half of imported goods into our nation and will cost an estimated $5 billion dollars/day...

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Quoting DubaiFX

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Hello Guys, nice move it was but it dont see it can last above 1.34 for long, so after long time i am back in GU for selling till 1.32 i maybe wrong, but i am going to do that, 1.3415 sol first target will be 1.3350 then i will see how it goes from there, stop loss near 1.35 again dont follow me, i am just posting my analysis, thank you

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Quoting imjoshbrown

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{quote} A deep 45 pip stop hunt low with a intrasession W formation off the 800 EMA - a confluence of signals - stops in place, but I'm thinking we'll see some action leading up to the US session. I'll be trading either to ADR high as seen in the screenshot or to last week's high, 1.34334. If y'all aren't aware, I believe we're rearing up for a massive move to the upside, fueled by the ILA strikes happening as of midnight here in the US. They facilitate almost half of imported goods into our nation and will cost an estimated $5 billion dollars/day...

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Quoting Headland

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{quote} Hi, those are below current price ? Just now the bounce up from current dly lo just met 'sell the rally' sellers @ y/day's lo (5min bearish hidden div) which acted as sbr. I guess it depends on which t/f's we operate? 1hr below {image}

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Quoting BeeTogether

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not sure if we have seen the bottom of the day yet however there are some areas of resistance for the time being. 13350 being the first followed by 13370 from a support view I’d say 13330 is the current support followed by 13310 then 13290

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