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Cable Update (GBPUSD)

  • #850,521
  • Jan 13, 2025 5:47am Jan 13, 2025 5:47am
long EU 0190, one more round, target 0600
People don't plan to lose. They lose because they don't plan.
  • #850,522
  • Jan 13, 2025 5:47am Jan 13, 2025 5:47am
Quoting W0lfram
{quote} +buy 1.212 Fun fact. Even if you started 2022 from buying, and bought every bearish daily candle which is below your lowest entry, you would end with profit by end of the year
totally agree with you
  • #850,523
  • Jan 13, 2025 5:52am Jan 13, 2025 5:52am
Quoting SabkaBaap
{quote} @suhas316 —-bhai at what level do u see chances of reversal, 1.2050 or 1.1807…or it cud go deeper down?? i also follow premanand maharaj ji, was happy to see your dp
!! Radha Radha !!
bhai I also do not know where reversal will come... I mostly trade in direction of market and still not seen any sign of market going up not even on 5M chart...
But when trend will change , I will definetly post here ...
Nice to meet you...
!! Radha Radha !!
  • #850,524
  • Jan 13, 2025 5:54am Jan 13, 2025 5:54am
...So, if price tests deeper/lower; we could basically see demand come in anywhere from the prev minor 1hr sw lo zone = pot supp that extends down to 2100/01 current dly lo -to- 2038 which is a prev sw lo zone = pot supp up to the mthly t/f. So far the current dly lo is a fractal swing lo zone up to 1hr, and might be a 2hr also @ it's close @ top of this hour, in a few mins time.

So far this week, 49% of 13wk (1/4yr) awr already traveled on this 1st day of week.

Longer-term fib retraces and wkly/mthly pivots below
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Trader with an Edge.
  • #850,525
  • Jan 13, 2025 6:00am Jan 13, 2025 6:00am
Quoting Headland
....If you are an intraday trader, on strongly uni-directional/trending days, and in strong trends like this downtrend, across so many t/f's, the highest probability anti-trend opportunities are generally when price has exceeded it's adr ( I use 30day adr,) and is beyond @ least Dly S2/R2, preferably Dly S3/R3, and of course @ pre-identified potential supp or res. Today is a good example of that. Price @ current dly lo is 110% 30day adr and beyond Dly S2, in a pot supp zone - and if drilling down to 4hr it's one that is coexistent with the prev...
yes i have this strategy in mind, good thing. the daily pivot is also far away at 1.2303.
but today the market looks so battered that it could accelerate the downward trend again.
We'll see...
trading is like dancing, don't think and just listen to the music!
  • #850,526
  • Jan 13, 2025 6:00am Jan 13, 2025 6:00am
Quoting W0lfram
{quote} +buy 1.212 Fun fact. Even if you started 2022 from buying, and bought every bearish daily candle which is below your lowest entry, you would end with profit by end of the year
It’s because market is zero sum. With enough margin one can survive for a long long time.
How to succeed in zero sum game?
  • #850,527
  • Jan 13, 2025 6:04am Jan 13, 2025 6:04am
Quoting birdland
{quote} yes i have this strategy in mind, good thing. the daily pivot is also far away at 1.2303. but today the market looks so battered that it could accelerate the downward trend again. We'll see...
Yeh, I have Dly pivot @/around 2240, and yeh price is currently below Yrly pivot (@/around 2749,) Mthly pivot (@/around 2599,) the new Wkly pivot (@/around 2325,) and Mon's Dly pivot.

10/20/40 ema crosses graphic
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Trader with an Edge.
  • #850,528
  • Jan 13, 2025 6:14am Jan 13, 2025 6:14am
Quoting Headland
{quote} Yeh, I have Dly pivot @/around 2240, and yeh price is currently below Yrly pivot (@/around 2749,) Mthly pivot (@/around 2599,) the new Wkly pivot (@/around 2325,) and Mon's Dly pivot. 10/20/40 ema crosses graphic {image}
ah, so you use sunday data for your daily pivot.

i have used them without.

here are both: first without sunday data
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and the second with sunday data.
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trading is like dancing, don't think and just listen to the music!
  • #850,529
  • Jan 13, 2025 6:18am Jan 13, 2025 6:18am
Quoting W0lfram
{quote} +buy 1.212 Fun fact. Even if you started 2022 from buying, and bought every bearish daily candle which is below your lowest entry, you would end with profit by end of the year
Could be heading 1.19 this week
  • #850,530
  • Jan 13, 2025 6:29am Jan 13, 2025 6:29am
Direction is set until either the BoE intervenes or Rachel Reeves is fired.
  • #850,531
  • Jan 13, 2025 6:31am Jan 13, 2025 6:31am
Quoting GEfx
{quote} I'm short again at 1.2187, and 1.2157. I have a TP at 1.2120. If the GBP can't find a place to retrace soon, something is very wrong here, but that's ok because I'm short. I'm done for the night. Edit: stop set at 1 2147.
Target at 1.2120/15 hit, with next target at 1.2048. My stop at 1.2147 was hit on the pull back. Assessing PA and looking for another sell opportunity. Essentially that same picture on the GBP/JPY.
  • #850,532
  • Jan 13, 2025 6:47am Jan 13, 2025 6:47am
You shell not close below 1.21000 mf !!!!!!!
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yes yes yes
  • #850,533
  • Jan 13, 2025 6:55am Jan 13, 2025 6:55am
GBP/USD is in a big downtrend, with some heavy bearish candles recently. But we’re hitting a key weekly support level now, and the wave cycle looks like it’s wrapping up. I think we’ll see a pullback soon.
Keep an eye out for any bullish signs, like a hammer or a strong green candle near support. If we get a bounce, there’s a chance to ride it up to the next resistance. Just watch out for fakeouts and set your stops tight.

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https://www.tradingview.com/script/FWr6AkTm-UST-Protein/
  • #850,534
  • Edited 7:20am Jan 13, 2025 6:57am | Edited 7:20am
i looked.maybe i m wrong.Gu can be up till 1.25600 on daily,but after it drop again.Maybe configuration change.But daily for a moment deep down.retrace on daily.For a moment only retrace .
1/25 can be as retrace .but i think now its bottom,some retrace
4 h retrace till 1.22, 4h very close to change trend 122 --121,after change trend.daily for a moment cant change trend.
  • #850,535
  • Jan 13, 2025 7:04am Jan 13, 2025 7:04am
GJ tanked hard again. That nearly 800 pips since last week Monday! Damn
Insane in the Brain..
  • #850,536
  • Jan 13, 2025 7:04am Jan 13, 2025 7:04am
US100 is under heavy downside pressure, but zooming out, we’re still stuck in a larger range. Selling here could be risky with that broader context in mind. That said, I’m watching for the current short-term trend to finish its 5th leg down toward the 20,000 level before considering any moves. Stay cautious and patient!

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https://www.tradingview.com/script/FWr6AkTm-UST-Protein/
  • #850,537
  • Jan 13, 2025 7:13am Jan 13, 2025 7:13am
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  • #850,538
  • Jan 13, 2025 7:14am Jan 13, 2025 7:14am
Quoting BeeTogether
GJ tanked hard again. That nearly 800 pips since last week Monday! Damn
yes its a beast. bitcoin has fallen 1200 pips

Quoting Mitiblotch
{quote} Sir this is just January. GU can yet hit 1.28. In fact, it will hit it at some point. Someone is definitely buying these dumps. The people dumping it are also probably getting buys in. {quote} The entire dump will be retraced. If they are selling this much in January then it is almost certain the rest of the year will be up, retrace, up, retrace. This doesn't suggest buying blindly, but it means that one can wait until a solid bases is formed through ranging and multiple rejections.
dont be hopeful. i havent seen gu this week. plus look at crosses struggling
  • #850,539
  • Jan 13, 2025 7:15am Jan 13, 2025 7:15am
Quoting giveachance
{quote} yes its a beast. bitcoin has fallen 1200 pips
proper crazies! Just about to hit margin call so will ride this one out.
Insane in the Brain..
  • #850,540
  • Jan 13, 2025 7:18am Jan 13, 2025 7:18am
Quoting ThaoAnh
{quote} {image}
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