Cable Update (GBPUSD)

https://www.tradingview.com/chart/GB...ding-Strategy/

My tape reading for GU

I went long, target is the buyside liquidity. Tight SL.

1.3462/68 zone is key for GU to continue the bull run.

A break below this zone will turn the bracket into a range.... Then pinpon Buy and then Sell in the ranging bracket.

Nice trading week all.

Long GU, target >1.3700, long EU, target > 1.1850

you shelll show me the money
i am not scare from you mf

Ok perfect 2 legs down , , better 3478 down to up restart !
3491 was enough for crazy up but may not follow ! If again not hold 3491 then likely test sr 3455
Similarly eurusd testing 1683 and should test break 2660 before bounce next

Stops building outside of Friday's range.
Buy stops 1.3545-1.3550.
Sell stops at 1.3385.
Pending short at 1.3545, aiming for sell stops if entered.

As the channel breaks without rejecting at that area the bias will change

Strong Resistance Here.

Well it was always going to be a whipsaw day on GOLD with UK on holiday...

I will long GBPUSD if we manage to break above this bullish flag

GOLD

Monday, traders still in hangover mode plus UK holiday.

Point to look for is , if the Fed cuts interest rates in September, it is highly likely that the price of gold will rise, and potentially rise significantly.

Market Expectations ("Buy the Rumor, Sell the News"):
This is a critical nuance. The gold market is forward-looking.
A large part of gold's rally from February to May 2024 was based on the expectation of future rate cuts.

The actual price move in September will depend on:
Has the cut already been "priced in"?
If the market is 100% certain of a September cut and has already driven the price up in anticipation, the actual event might cause a smaller rise or even a short-term pullback as traders "sell the news" to take profits.

The "Dot Plot" and Forward Guidance:
The market will react just as strongly to the Fed's projections for future rate cuts in 2025.
If the Fed signals that more aggressive cuts are coming, gold could skyrocket.
If the Fed suggests September is a one-off and they will pause, the reaction might be more muted.

A Fed rate cut in September is a fundamentally bullish driver for gold.

Other factors may halt gold surge :
The Cut is Already Priced In
A "Hawkish Cut":
(The Fed could cut rates but simultaneously indicate that this is merely an adjustment and that further cuts are unlikely soon because inflation remains stubbornly high. This could strengthen the dollar and limit gold's gains.)
Strong Economic Data Elsewhere:
(If data from other major economies (e.g., Europe, China) is particularly weak, the US dollar might remain strong relative to other currencies, capping gold's rise.)
A Risk-On Rally:
(Sometimes, a rate cut is seen so positively for the economy that it triggers a massive rally in stocks.
In this "risk-on" environment, money might flow out of safe-haven gold and into equities, limiting its upward move.)

Great post ......now Bias LONG...

GU officially touched the support while EU didn't, so we'll see another visit down there.. Hopefully after touching the upper levels for both.

Those copied from coreg2004
I learn from him & his great method

This gives impatient traders ample time & opportunities to make mistakes.