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Cable Update (GBPUSD)

  • #840,061
  • Oct 1, 2024 4:48am Oct 1, 2024 4:48am
Quoting Headland
{quote} That wide prev 4hr sw hi zone = pot rbs is interesting, it has already acted as rbs 3 times, (red circled,) - the 3rd time @ last wk's 3248 lo, and it has 3 x 3 fib clusters in there; 3294-90, 3275-68 (with 3 x calculated pivots too,) and 3261-51. I wonder how much potential rbs demand is left in it if tested? EDIT: Just to add to the above, the 4hr rising channel has already broken to the downside, and if that 3110 prev 1hr/4hr/minor dly sw lo zone = pot supp breaks to the downside too, I think it puts the 4hr 'general' uptrend in some...
I think the uptrend definitely looks over. So maybe a move to the opening are before a dump. Or just a continuation of the dump

support areas are giving way today
Insane in the Brain..
  • #840,062
  • Oct 1, 2024 4:52am Oct 1, 2024 4:52am
Quoting BeeTogether
{quote} I think the uptrend definitely looks over. So maybe a move to the opening are before a dump. Or just a continuation of the dump support areas are giving way today
I have always said it was bear at least until monthly pivot at 3270.
  • #840,063
  • Oct 1, 2024 5:00am Oct 1, 2024 5:00am
Quoting Konichiwhaat
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 {image} {image} {image}
First 100 pip target TP hit. Now back to daily closes for more entries to the down side. One position still open
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Emotional Control. Process, not outcome.
  • #840,064
  • Oct 1, 2024 5:01am Oct 1, 2024 5:01am
...a prev 30min minor sw lo zone @ current dly lo....may be a 30min/1hrfalling wedge forming,? maybe not. Asian lo and y/day lo 1st downside b/o's remain true so far. Below here that prev 1hr/4hr/minor dly sw lo zone = pot supp to 3110. Dly S2 @/around the bottom of it. Asian hi is presently the current dly hi.

1hr below
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Trader with an Edge.
  • #840,065
  • Edited 5:56am Oct 1, 2024 5:06am | Edited 5:56am
Waiting gbpusd bounce start ok even 3310 play , for 3355 / 60 limit ! Another strong limit is 3350.. so breaks 4450 while if actually correct then minimum over 3355.do top play again then. Bit by bit to play in such risky times ,!
Next time breaks 3310 and hold should target bear 3242
So limit 3350 hold most probably.. breaks 3326 , then test 3340 +
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #840,066
  • Oct 1, 2024 5:20am Oct 1, 2024 5:20am
...a straight line 'edge of cliff' sell-off from the London hi, - could see a 6th consecutive 1hr bearish candle printed? Nice downside follow thru on the last 4hr bearish thrust candle close. 88% 30day adr traveled so far today.

1hr below
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Trader with an Edge.
  • #840,067
  • Oct 1, 2024 5:23am Oct 1, 2024 5:23am
Quoting fontu
Waiting gbpusd bounce start ok even 3310 play , for 3355 / 60 limit ! {image}
We need volume/MM to join in the race....
Market Structure is the King.....
  • #840,068
  • Oct 1, 2024 5:27am Oct 1, 2024 5:27am
Quoting Abeylyn
{quote} We need volume/MM to join in the race....
Yeh, tested the bottom of that pot supp zone, clearly insufficient buy limits waiting there, or maybe the lack of sellers (because of the potential support) means they haven't triggered yet? If/when they do and price doesn't rise very hi - those in long are reliant on more market orders coming in. There will be some sell stops and maybe some more buy limits under it.
Trader with an Edge.
  • #840,069
  • Oct 1, 2024 5:33am Oct 1, 2024 5:33am
Quoting Abeylyn
{quote} We need volume/MM to join in the race....
hopefully NYO for volume. London/Euro session is done
Insane in the Brain..
  • #840,070
  • Oct 1, 2024 5:33am Oct 1, 2024 5:33am
I have impression we will see next top in Gu.For me its possible. Line show 1.34700 now H4
  • #840,071
  • Oct 1, 2024 5:45am Oct 1, 2024 5:45am
Quoting viktoriaxz
I have impression we will see next top in Gu.For me its possible. Line show 1.34700 now H4
wow that’s a huge up. If we get there it be a tasty area to drop from too
Insane in the Brain..
  • #840,072
  • Oct 1, 2024 5:48am Oct 1, 2024 5:48am
~1.3285 maybe, then little bounce
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Air force
  • #840,073
  • Oct 1, 2024 5:56am Oct 1, 2024 5:56am
...not the most convincing of bounces (so far at least,) but a bounce nonetheless, (3/5/15min bullish regular div, and 30min o/s there.) So, are the buyers vulnerable to 'sell the rally' supply @ some point?

1hr below
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Trader with an Edge.
  • #840,074
  • Oct 1, 2024 6:02am Oct 1, 2024 6:02am
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yes yes yes
  • #840,075
  • Oct 1, 2024 6:04am Oct 1, 2024 6:04am
Finally some downside action GU

Yesterday those yen trades i posted netted nearly 600 pips

The USDCAD long trade seems to have stalled.

This morning i entered this trade on EURCHF short

If you have been following my trades you will understand the charts

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Follow The Markets Structure - Patience and Discipline
  • #840,076
  • Oct 1, 2024 6:07am Oct 1, 2024 6:07am
Quoting viktoriaxz
I have impression we will see next top in Gu.For me its possible. Line show 1.34700 now H4
Yes, I agreed it's possible but caution at the Internal Resistant Point.

I see it as a range bracket. We shall see either the break above or break below.
Market Structure is the King.....
  • #840,077
  • Oct 1, 2024 6:07am Oct 1, 2024 6:07am
...funny how many bought the 1hr pinbar/dragonfly doji close after all the 'heavy lifting' had been done lol!

1hr below
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Trader with an Edge.
  • #840,078
  • Oct 1, 2024 6:08am Oct 1, 2024 6:08am
So over 3340 will care most! If breaks 50 then likely test 60 otherwise down start below 50!
Bull this time do or die nor now !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #840,079
  • Oct 1, 2024 6:18am Oct 1, 2024 6:18am
Quoting fontu
So over 3340 will care most! If breaks 50 then likely test 60 otherwise down start below 50! Bull this time do or die nor now ! {image}
I think a test of todays opening maybe the top unless data takes us on a different tangent
Insane in the Brain..
  • #840,080
  • Oct 1, 2024 6:29am Oct 1, 2024 6:29am
I see only long from here.

long 1.3318
Sl 1.329
tp open.
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