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Cable Update (GBPUSD)

  • #847,181
  • Dec 4, 2024 1:55am Dec 4, 2024 1:55am
Quoting suhas316
{image}
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!! Radha Radha !!
  • #847,182
  • Dec 4, 2024 1:55am Dec 4, 2024 1:55am
Quoting Abeylyn
{quote} {image} {image} Short GU @ 1.2690 Stop 1.2710 TP 1.2565/35
Best price to Short again is here 1.2680 representing 0.500/0..618 of the dump.
Time Stamped.

Nice trading all. Waiting to see Price Reaction
Market Structure is the King.....
  • #847,183
  • Edited 2:25am Dec 4, 2024 1:56am | Edited 2:25am
Rejection at bottom test , may retest , watching
Breakout 2680 , signal 2673 and confirmation 2666
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #847,184
  • Edited 2:13am Dec 4, 2024 2:01am | Edited 2:13am
...what is the market trying to tell us, if anything? No break of last mth's hi or lo yet, no breaks of last wk's hi or lo yet, and so far today a false 1st b/o of y/day's hi followed by a false 1st b/o of the Asian lo and y/day's lo! 2 x HL's now on dly, ie 2487 the last LL, then 2506 a HL, 2750 a H, now 2617 a 2nd HL. It's 'general' downtrend still intact though so far.

dly below
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Trader with an Edge.
  • #847,185
  • Dec 4, 2024 2:05am Dec 4, 2024 2:05am
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  • #847,186
  • Dec 4, 2024 2:06am Dec 4, 2024 2:06am
Quoting Abeylyn
{quote} Best price to Short again is here 1.2680 representing 0.500/0..618 of the dump. Time Stamped. Nice trading all. Waiting to see Price Reaction
Hi. It's well beyond 0.5/0.618% of the fall from current dly hi-lo there!? Brave short given the last 1hr close a few mins ago. I have 5min bearish hidden div there but no real 30min/1hr downtrend (both ranging,) and no real 30min+ pot sbr/fib (s,) re the 5min set-up. Good luck. Anything can happen.

1hr below
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Trader with an Edge.
  • #847,187
  • Edited 2:53am Dec 4, 2024 2:29am | Edited 2:53am
...when you see a strong momentum move like the bounce from current dly lo, (and it isn't a scheduled event risk [like data release] move,) - it's either;

a. The reaction to an Unscheduled event risk (ie something has happened that we at the retail end haven't got notice of yet.)

-or-

b. There are a lot of buy limits and sell stops/ sell limits and buy stops under/over a 'significant lo/hi respectively. Like in this case - under y/day's lo, which triggered...the sell stops possibly even acting as some liquidity for the buy limits. Then of course marker orders get added (I,) because of the strong move and price action it creates on the lower t/f's, -and- (ii,) because of traders like me who 'buy @ support/sell @ resistance,' and that adds to the strength of the move.
Trader with an Edge.
  • #847,188
  • Dec 4, 2024 2:30am Dec 4, 2024 2:30am
Quoting Headland
{quote} Hi. It's well beyond 0.5/0.618% of the fall from current dly hi-lo there!? Brave short given the last 1hr close a few mins ago. I have 5min bearish hidden div there but no real 30min/1hr downtrend (both ranging,) and no real 30min+ pot sbr/fib (s,) re the 5min set-up. Good luck. Anything can happen. 1hr below {image}
0.500/618, the minimum pullback requirement and Stoploss a little above the high.

Market Mover needs to come in and establish a clear trend to the downside. A long term observation as regards price movement on my table.

Any deviation means strategy revision since it's a continuous learning process.
Market Structure is the King.....
  • #847,189
  • Dec 4, 2024 2:39am Dec 4, 2024 2:39am
Quoting Abeylyn
{quote} If you don't mind, Can you pull up a chart to validate the Buy trade ? Thanks.
It is simple price action on the naked chart. No indicators.
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  • #847,190
  • Dec 4, 2024 2:42am Dec 4, 2024 2:42am
Quoting Abeylyn
{quote} 0.500/618, the minimum pullback requirement and Stoploss a little above the high. Market Mover needs to come in and establish a clear trend to the downside. A long term observation as regards price movement on my table. Any deviation means strategy revision since it's a continuous learning process.
I see your reasoning now. Thanks.
Trader with an Edge.
  • #847,191
  • Dec 4, 2024 2:47am Dec 4, 2024 2:47am
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I'm high on trading, cant you tell?
  • #847,192
  • Dec 4, 2024 3:00am Dec 4, 2024 3:00am
Quoting genadi
{quote} It is simple price action on the naked chart. No indicators.{image}
Friend,

Buying or Selling ?
Market Structure is the King.....
  • #847,193
  • Dec 4, 2024 3:07am Dec 4, 2024 3:07am
GJ TP set to 19150 and SL at b/e (hedged) 19067
Insane in the Brain..
  • #847,194
  • Dec 4, 2024 3:10am Dec 4, 2024 3:10am
Quoting Abeylyn
{quote} Friend, Buying or Selling ?
In my humble opinion:
At this moment price is more bullish than bearish, but now it is in the middle on the H1 range.
So no trade for me now.
  • #847,195
  • Dec 4, 2024 3:13am Dec 4, 2024 3:13am
...the last gmt+2 4hr close was a hanging man of sorts and we've seen some downside follow-thru off it so far.

4hr below
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Trader with an Edge.
  • #847,196
  • Dec 4, 2024 3:16am Dec 4, 2024 3:16am
Ty mister gj
Today it's 140 pips in my favor
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yes yes yes
  • #847,197
  • Dec 4, 2024 3:32am Dec 4, 2024 3:32am
Quoting Mitiblotch
{quote} Do you have an invalidation level?
when the dollar closes above that line ill take my lumps
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short trump and go long the deepstate
  • #847,198
  • Dec 4, 2024 3:37am Dec 4, 2024 3:37am
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  • #847,199
  • Dec 4, 2024 3:39am Dec 4, 2024 3:39am
...it's that type of day, so far @ least, ie rangy on 30min - 4hr. Fibs fibs fibs - 38.2% of the current dly lo - current p/back hi move where the bulls stepped back in.

1hr below
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Trader with an Edge.
  • #847,200
  • Dec 4, 2024 3:40am Dec 4, 2024 3:40am
Quoting genadi
{quote} In my humble opinion: At this moment price is more bullish than bearish, but now it is in the middle on the H1 range. So no trade for me now.
Okay, got the point.
Market Structure is the King.....
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