Cable Update (GBPUSD)

i can win 45 $ and 60 $

Added longs in BP NOW.

ty mister gu

Called it. This is what socialism brings.

"The problem with socialism is that eventually you run out of other peoples money." - Margaret Thatcher

ty mister goldi

Buyers getting wrecked again

G/M, bearish dly candle y/day - a downside follow-through on the bearish hammer dly candle the day before, and a downside follow-thru on that so far today, with a 1st downside b/o of the AL down to the CDL/CWL, which is @ 61.8% of the 3333-3736 move. 2 x failed upside b/o's of LWH this week, so far. LWL is just below the CDL/CWL, in fact the latter challenged the prev 1hr/4hr sw lo zone = pot supp that leads down to it.

1hr below

...so, 2nd downside b/o of YL holds true so far, (1st was to today's AL.) Price has now equalled LWL @ the CDL/CWL. Some sell-stops of long positions will have been triggered on the way down doubtless, some bigger (non-retail) ones likely under 3333. There will be a few dazed bulls around, and those who believe in certainty/prediction in financial markets might be suffering too.

4hr below

I think the bulls just need to give up

Drop to 1.3460 on the cards?

Hi, lol. I have no idea, but I certainly think the 'test of the neckline' theory advanced by Zebi re the Dly t/f's bastardised inverted H&S is dead, with price being circa 100pips below it! Price may well reach 3800/4000 at some point but it won't be because of a pattern that was imperfect from the get-go.

dly below

what are your thoughts guys??

all out !!!

...so, price returns to the old 3595-3390 dly range after 1 x failed downside b/oof it to 3333, and now 1 x failed upside b/o of it to 3726. 4hr may be entering a downtrend,? 1hr is in one. Intraday is bearish overall, so far. Demand @ LWL/61.8% 3333-3726 sees a bounce up from the CDL/CWL. 92% of 30day adr traveled so far today, 117% of 13wk awr so far, on this last trading day of the week.

1hr below

Another dead cat bounce?

Don't know...it's certainly a somewhat 'laboured' recovery attempt by the bulls, so far at least. In it's favour is regular bullish div on 30min & 1hr osc's, o/s on 4hr, and the fact that price has already traveled 117% of it's 13wk awr, and a 1hr fractal swing lo @ the CDL now,} - I guess, - but anything can happen.

1hr below