Cable Update (GBPUSD)

SL hit for the 20th time.

Nailed it on demo though. Sold on demo simply due to "I bet it's going to go down because I'm targeting 1.27.
38 pip target hit on demo. 22 SL now on live. 0 TP hit.

missed the window for both closing the GU trade and shorting GJ. So will keep the GU long running for the day

I went long at 1.26165, TP=1.26700, hopefully it runs up to close the gap.

Value found in bottom half and bottom third of london session and rejection of top third of london session rejection did in fact indicate a continuation to the downside as predicted in my earlier screen shot.

Time spent at bottom half of the session and very little spent at the top of the session can indicate continuation to the down side because time is a window into value BUT only if the time spent is in accordance the established perception of value formed by the interpretations(pivots or other interpretations). Time only matters if it supports or reaffirms the establish perception of value. The perception of value is what matters most

Long GU @1.2615

Looks like the stock market sell off could be continuing. Hopefully that means the collapse is getting closer.

Monthly and Daily R levels forming the bearish perception of value seems to have cause the actual move to happen which is that bearish drop. This will be the case if we see price break far below monthly R1 and potentially go to monthly middle pivot. I will drag my stop accordingly. If the perception of value should change to higher prices I will only sell at Monthly M4.

Value will dictate price. Period. And Its tough to go against the market direction that both buyers and sellers agree on.

Market looking a bit sluggish
We may not see 1.26 nor 1.27 today
Just hovering back and forth in between

Committing pigs before the slaughter

Ok...So I'm heavily down again but I got that last up move we've just had. I closed it for a profit. Time to reassess.

It's my bloody lack of patience. I can't just sit there waiting for it to get to a 4hr S&R zone. I try and guess the bottom. I keep telling myself to wait for it to get to the S&R zone but I just don't listen to myself.

GU forming a double bottom imo. Should bounce UP shortly.

How do do you do mister goldi ?

GU very likely to test 12660-12690 from this move up. 12700 is on the cards...

my average short price is 2640 so im sitting in a rowboat getting bucketed around by bulls waves

below is a dollar chart and how I'm trading GU

the dollar drop is inevitable...however it will gain more momentum for a more forcefully drop ifn it goes up first to retest that resistance line first to see how strong dollar bulls are...which they'll prolly just expell more methane to make climate change worse ...so know you know the rest of the story

I'm gonna be out the rest of the day so am looking forward to returning to be amongst all my FF friends later