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Cable Update (GBPUSD)

  • #841,881
  • Oct 15, 2024 3:57am Oct 15, 2024 3:57am
Hovering around R1 breakout opens up 131 which is my current TP

SL moved to 13060 (+13 pips)
Insane in the Brain..
  • #841,882
  • Oct 15, 2024 3:57am Oct 15, 2024 3:57am
It's a good time to buy. I don't know what the future holds, but it's a good time to buy.
  • #841,883
  • Oct 15, 2024 4:00am Oct 15, 2024 4:00am
...Nice upside follow thru on that big bullish 1hr candle to current dly hi after a small p/back. Price @ current dly hi just popped above fri's 3083 hi into the 4hr part of the prev 1hr/4hr sw hi zone = pot res that extends up to last thurs's 3093 hi, which last fri's 3083 hi was a 1st test and rejection of. (3089-96 a 3 fib cluster and Dly R2.) 4hr closes as a bullish engulf.

58% 30day adr traveled so far today. 1st upside b/o of Asian hi remains true so far, after the failed 1st downside b/o of the Asian lo, to current dly lo.

4hr below
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Trader with an Edge.
  • #841,884
  • Oct 15, 2024 4:08am Oct 15, 2024 4:08am
Quoting Tictak
It's a good time to buy. I don't know what the future holds, but it's a good time to buy.
Why ?

Technicals, fundamentals....
Market Structure is the King.....
  • #841,885
  • Oct 15, 2024 4:11am Oct 15, 2024 4:11am
Quoting ChiForex
{quote} Simple to read my signature description...to know what I'm viewing.
It's not simple. Though someone responded on your behalf that it's a lower boundary of monthly channels.

Why not bell the cat...

Just interested in reasons for your own decision....
Market Structure is the King.....
  • #841,886
  • Oct 15, 2024 4:13am Oct 15, 2024 4:13am
UJ
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Master your mind. Master Trading.
  • #841,887
  • Oct 15, 2024 4:15am Oct 15, 2024 4:15am
Quoting HaLBot
Bugger Cable took out my TP Now will have to buy in again.......somewhere??

Good to see this pullback happening, another chance to get back into the push to 3100, if that happens
Don't Leave Money on the Table
  • #841,888
  • Oct 15, 2024 4:27am Oct 15, 2024 4:27am
buying time
  • #841,889
  • Oct 15, 2024 4:32am Oct 15, 2024 4:32am
a 30min fractal swing hi now @ current dly hi. Current p/back lo of the day's current lo-hi move is @ the prev sw hi zone = pot rbs around y/day's hi / today's Asian hi. Will we see an upside follow-thru on last 4hr close (re a post above,) or just more ranginess, or maybe both?

1hr below
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Trader with an Edge.
  • #841,890
  • Oct 15, 2024 4:35am Oct 15, 2024 4:35am
Quoting Abeylyn
Quoting BeeTogether
{quote} seems very rangy indeed. 13050 seems to be the magnet for both bulls and bears with nothing to indicate a real break out. With the UK data being green maybe during LO we might see a move up towards the highs of yesterday before a move down? Also US data tomorrow might be the catalyst for a breakout[/quote It's already set to breakout to either direction. Range cannot continue because we just completed a triangular formation. Except there would be double triangle. In that case, we have to hang on a little more
...
If price eventually break out of this current high, next Resistant will be 1.3179 § 1.3229 (0.5618 pullback).

Hoping to see the breakout today..
Market Structure is the King.....
  • #841,891
  • Oct 15, 2024 4:38am Oct 15, 2024 4:38am
Quoting Waveskierrob
{quote} I keep adding SHORTS 1.2600 now is my breakeven, although I hope it goes to 1.4000 for Leon's sake, his need is greater than mine...
BE now at 1.2700 will be going easy now with adding SHORTS ...
  • #841,892
  • Edited 4:56am Oct 15, 2024 4:39am | Edited 4:56am
Checking usdx , testing one last floating support before breakout for 101.33 areas . Let's see , how it reacts last with next news today !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #841,893
  • Oct 15, 2024 4:41am Oct 15, 2024 4:41am
Quoting Abeylyn
{quote}{quote} If price eventually break out of this current high, next Resistant will be 1.3179 § 1.3229 (0.5618 pullback). Hoping to see the breakout today..
Hi. Au contraire. the 1hr and 4hr charts are packed with previous swing hi zones = potential resistance up to 3175, as well as fibs, fib clusters, potentially descending trend line (s,) and calculated pivots. I would be very surprised/amazed if there were no sellers between the current dly hi and there, if tested by price!
Trader with an Edge.
  • #841,894
  • Oct 15, 2024 4:46am Oct 15, 2024 4:46am
Quoting Konichiwhaat
{quote} This daily candle is about to close slightly bullish. In this case I will place some buy stops now at 3080 to catch any potential breakout
Okie dokie, buys triggered... lets see?
Emotional Control. Process, not outcome.
  • #841,895
  • Oct 15, 2024 4:51am Oct 15, 2024 4:51am
Quoting Headland
{quote} Hi. Au contraire. the 1hr and 4hr charts are packed with previous swing hi zones = potential resistance up to 3175, as well as fibs, fib clusters, potentially descending trend line (s,) and calculated pivots. I would be very surprised/amazed if there were no sellers between the current dly hi and there, if tested by price!
Intention at resistant zone is to look out for either Continuity in Buy or Reversal to the downside. It's a two way scenario depending on whatever unfold from price reaction.
Market Structure is the King.....
  • #841,896
  • Oct 15, 2024 4:58am Oct 15, 2024 4:58am
Quoting Abeylyn
{quote} Intention at resistant zone is to look out for either Continuity in Buy or Reversal to the downside. It's a two way scenario depending on whatever unfold from price reaction.
Hi. yes of course, break or bounce is the decision @ potential resistance, (and convesrely @ potential support,) even if the 'reversal' turns out to be just a pullback (of whatever duration/size,) not a full-blown 'reversal.' And I would add, in a next higher t/f (+) trend, be looking for repeating ways to get back in the trend @ a discount, after a p/back.
Trader with an Edge.
  • #841,897
  • Oct 15, 2024 5:04am Oct 15, 2024 5:04am
Quoting ScalaFX
{quote} add 0907 EU GU 3040
GU closing first 3050 last this 3040 protected, EU still developing
People don't plan to lose. They lose because they don't plan.
  • #841,898
  • Oct 15, 2024 5:06am Oct 15, 2024 5:06am
GBPUSD, Long Trade @1.305, risk free {locked) Target 1.32, Current PA trying resistance after making solid breakdown, nearest Resistance @1.308/1.31
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  • #841,899
  • Oct 15, 2024 5:08am Oct 15, 2024 5:08am
Quoting Waveskierrob
{quote} BE now at 1.2700 will be going easy now with adding SHORTS ...
We have programmed Price not to go down today. Market and traders are tired of stagnation so we need to move ..

No room for double triangular corrective structure.

Don't mind me please....
Market Structure is the King.....
  • #841,900
  • Oct 15, 2024 5:15am Oct 15, 2024 5:15am
13080 resisting to break further. 131-13120 should be do able today
Insane in the Brain..
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