Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#855,421
Feb 27, 2025 5:31am Feb 27, 2025 5:31am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

Quoting MrFanciful

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Yesterday could have been a rejection of the 200EMA on the daily. It's been an extremely bullish month with tomorrow being the last day of it, as well as the weekly candle. Swing traders might be closing positions. {image}

Ignored

Hi, it might have been at least confluential (if there is such a word,?) with the 1st test on that prev 4hr/dly sw hi zone = prev res = pot res that extends up to 2728/29, from Dec last year. We'll have to wait for more future price discovery to see how important it/both were over the longer term. Good point about potential m/e squaring, (so-called.)

Trader with an Edge.

#855,422
Feb 27, 2025 5:39am Feb 27, 2025 5:39am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

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yes yes yes

#855,423
Feb 27, 2025 5:42am Feb 27, 2025 5:42am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

...so many technical factors going on @ that current dly hi sell-off;

1. Potential pt. 4 of a 1hr exp tri.
2. Potential pt. 5 of a 15min exp tri.
3. Whole bearish candle closes outside it's 20bol on 5min
4. That bearish div phenomenon where the div is measured from above to below the osc's zero axis, on 1min.
5. Potential stop-hunt above Asian hi.
6. Just into 4hr part of that prev 1hr/minor 4hr sw hi zone = prev res = pot res, that extends up to y/day's 2716 hi.

Trader with an Edge.

#855,424
Feb 27, 2025 5:56am Feb 27, 2025 5:56am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

...'buy the dip' types wait until price reaches a prev 30min sw hi/lo zone @ the 50% of current dly lo - hi move, and buy it. Are they strong enough though to get it above y/day's hi, which is also the current wkly/mthly/yrly hi?

1hr below

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#855,425
Feb 27, 2025 5:58am Feb 27, 2025 5:58am

MoneyPrinte
Joined Jan 2025 | Status: Trader | 1,661 Posts

Quoting MoneyPrinte

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GJ.... {image}

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https://x.com/moneyprinte

#855,426
Feb 27, 2025 6:23am Feb 27, 2025 6:23am

MrFanciful
Joined Mar 2021 | Status: Trader | 2,976 Posts

Quoting Headland

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...'buy the dip' types wait until price reaches a prev 30min sw hi/lo zone @ the 50% of current dly lo - hi move, and buy it. Are they strong enough though to get it above y/day's hi, which is also the current wkly/mthly/yrly hi? 1hr below {image}

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Is it people buying though? Surely if people are just selling the dollar, without buy the GBP, the dollar will fall against the pound?

#855,427
Feb 27, 2025 6:31am Feb 27, 2025 6:31am

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

Quoting Headland

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{quote} Hi, looking that way, but a candle ain't a candle till it's closed! --------------------------------------------------------------------- ...price still below last wk's 2678 hi after the 2nd failed upside b/o y/day. 1st uspide b/o of the 5min rising tri failed, and price still in the asian pip range yet with no b/o either way, this in the y/day lo-hi pip range.

Ignored

it is a candle before it closed

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