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Cable Update (GBPUSD)

  • #840,081
  • Oct 1, 2024 6:30am Oct 1, 2024 6:30am
Quoting Mitiblotch
{quote} I have always said it was bear at least until monthly pivot at 3270.
I agree. My TP is at 1.3272.
Observation is the path to discovery.
  • #840,082
  • Oct 1, 2024 6:31am Oct 1, 2024 6:31am
(*posted stats for Q3 first*)
Q4 candle
imo, unlikely to see 6th bullish
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Air force
  • #840,083
  • Oct 1, 2024 6:34am Oct 1, 2024 6:34am
ADR low is at 1.33012, any extension beyond that number is over sold IMO.

1.13312-1.13314 is the low of the day for Sep 25-26, well within the ADR LOW. My strategy is to take a small short to ADR Low, grab some pips, and enter back long as soon as it hits. US traders are waking up now, looking at the massive drop in price, many are emotionally trading, chasing the short (those who missed it).

Imagine if the dealer makes a final pump 25 pips to the downside, traders chase the solid red candle, then yoinks price away from lower level sellers as ADR is hit - (ADR indicates trend exhaustion on an intraday basis), jamming sellers on a railroad track, morning star, or one of this classic reversal candle patterns you read in the books - then as volatility picks up, the dealer shifts the market higher now buying at discounted prices where sellers have committed at the worst possible price.

Edit: Added a markup to show ADR low, how the price action might suggest a trend continuation, with that classic "A-B = C-D" trading pattern so many people read about as it strikes ADR, then YOINKS later sellers and greedy sellers wanting more than the dealer is willing to give.
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Discouragement is the language of the devil. Results over hype.
  • #840,084
  • Oct 1, 2024 6:38am Oct 1, 2024 6:38am
go bulls go, structure changed so Im long EU 1084, GU 3315, will add more both to max 50 pips GU and 20 pips EU if slides, happy trading folks
People don't plan to lose. They lose because they don't plan.
  • #840,085
  • Oct 1, 2024 6:39am Oct 1, 2024 6:39am
Quoting Alorente
{quote} I agree. My TP is at 1.3272.
Oh! You held on too? Hahaha... good one!
  • #840,086
  • Oct 1, 2024 6:41am Oct 1, 2024 6:41am
Maybe everyone is wondering if GU will break the low @ 3312

I am of the opinion that it will because if we consider 3312 as the last higher low then what happened at RBS at the top , well it has been tested twice so i would think the only area to which a pull back can occur would be within the micro trend back to the SBR either before or after a break of 3312

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Follow The Markets Structure - Patience and Discipline
  • #840,087
  • Oct 1, 2024 6:42am Oct 1, 2024 6:42am
Quoting ScalaFX
go bulls go, structure changed so Im long EU 1084, GU 3315, will add more both to max 50 pips GU and 20 pips EU if slides, happy trading folks
M pattern on EU daily chart and price below the moving average. I know you can always average out of your trades in profit or BE. I hope it works out. Scared to buy anything now.
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  • #840,088
  • Oct 1, 2024 6:43am Oct 1, 2024 6:43am
Quoting imjoshbrown
ADR low is at 1.33012, any extension beyond that number is over sold IMO. 1.13312-1.13314 is the low of the day for Sep 25-26, well within the ADR LOW. My strategy is to take a small short to ADR Low, grab some pips, and enter back long as soon as it hits. US traders are waking up now, looking at the massive drop in price, many are emotionally trading, chasing the short (those who missed it). Imagine if the dealer makes a final pump 25 pips to the downside, traders chase the solid red candle, then yoinks price away from lower level sellers as ADR...
Buy limit in at 1.33012. Dealer come sell to me at the discounted rate before the reversal.
Discouragement is the language of the devil. Results over hype.
  • #840,089
  • Oct 1, 2024 6:44am Oct 1, 2024 6:44am
Quoting ScalaFX
go bulls go, structure changed so Im long EU 1084, GU 3315, will add more both to max 50 pips GU and 20 pips EU if slides, happy trading folks
Where did the structure change what t/f
Follow The Markets Structure - Patience and Discipline
  • #840,090
  • Oct 1, 2024 6:49am Oct 1, 2024 6:49am
Quoting Mitiblotch
{quote} Oh! You held on too? Hahaha... good one!
Not only held... I´ve been adding on the way down. Now I am on hold and will start closing partials as we get closer to the Pivot.
Observation is the path to discovery.
  • #840,091
  • Oct 1, 2024 6:54am Oct 1, 2024 6:54am
Quoting Alorente
{quote} Not only held... I´ve been adding on the way down. Now I am on hold and will start closing partials as we get closer to the Pivot.
Already closed 2k down here. Waiting for 3275 to jump out of all. Same trick like last month repeating. It will spike and people will buy but ultimately 3270 will happen and maybe 20 pips below it. After that I will reassess.
  • #840,092
  • Oct 1, 2024 6:55am Oct 1, 2024 6:55am
Pound/dollar short selection SL 10 pips
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  • #840,093
  • Oct 1, 2024 6:58am Oct 1, 2024 6:58am
Quoting pipfarm
{quote} Where did the structure change what t/f
in my opinion this last new high change everything, w1 you have now big order block, price must bounce here, temporary? I dont know but in this place worth to buy
People don't plan to lose. They lose because they don't plan.
  • #840,094
  • Oct 1, 2024 6:59am Oct 1, 2024 6:59am
Quoting Mitiblotch
{quote} M pattern on EU daily chart and price below the moving average. I know you can always average out of your trades in profit or BE. I hope it works out. Scared to buy anything now. {image}
more down more to buy with more profit, you know me
People don't plan to lose. They lose because they don't plan.
  • #840,095
  • Oct 1, 2024 7:01am Oct 1, 2024 7:01am
Quoting BeeTogether
{quote} hopefully NYO for volume. London/Euro session is done
I took the bullish bait too much upside for me left to go before nfp and the likes for a further huge upside
  • #840,096
  • Oct 1, 2024 7:02am Oct 1, 2024 7:02am
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JY 5' --- I close my shorts here, NOW.

  • #840,097
  • Oct 1, 2024 7:09am Oct 1, 2024 7:09am
Quoting F.g
{image} JY 5' --- I close my shorts here, NOW.
why to me the charts and gbjpy seems to have alot of downside
  • #840,098
  • Oct 1, 2024 7:14am Oct 1, 2024 7:14am
Quoting ScalaFX
{quote} in my opinion this last new high change everything, w1 you have now big order block, price must bounce here, temporary? I dont know but in this place worth to buy

Buy it and let us see what happens and post your chart with the live buy
Follow The Markets Structure - Patience and Discipline
  • #840,099
  • Oct 1, 2024 7:19am Oct 1, 2024 7:19am
for me both EU and GU need little more down before jump up,
GU 1,3300
EU 1,107-1,1065
  • #840,100
  • Oct 1, 2024 7:20am Oct 1, 2024 7:20am
Quoting pipfarm
{quote} Buy it and let us see what happens and post your chart with the live buy
already done this, sorry Im still in vacations in Dubai and only trading when I see good opportunity to trade, not so much time to analyze, now adding 2nd batch
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People don't plan to lose. They lose because they don't plan.
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