Cable Update (GBPUSD)

TP HIT, price on the way to take out liquidity at 1.3406 , stay focused get this money. Happy Friday !

Price just took out the liquidity at 1.3406, I will continue short looking for price to reach 1.3386 level next !

Long entry.

I persisted with risk shorts, made it all back and more.

Well done Guy1969
I got tired of waiting for this break in gbpusd and eurusd, abandoned my quest then it happened.
Patience is key

Glad you had your stop in place.

The MM will now milk this, forcing weak longs to close their positions.

Today was an amazing day I am still short and tracking my TP and putting SL where I see fit and price Is still going down. I posted a few hours ago that price will reach 1.3367 and it also took liquidity at 1.3345 and I believe it will go lower im expecting price to hit 1.3300 and take out that liquidity as well. Happy Friday everyone and take care !

... you can see the 2 x range downside breaks on 4hr chart below, labelled as 1st, (3485-06,) and the (3509 LWH -3367 LWL) wider 2nd, that have occured today.
Not long till week's close:

* Wkly candle will very likely close bearishly, and the t/f will likely close in a rangy state still. (A likely < 13wk awr week, ie currently @ 71%.)
* Dly candle will very likely close bearishly, and the t/f will likely close still in a rangy and actually, probably a rangy-bearish state.
* 4Hr has seen 2 x range breaks, (as discussed above,) and these downside range breaks will or will not turn into a downtrend.
* 1Hr has seen 1 x range break, (as discussed above,) and this downside range break will or will not turn into a downtrend.

So, unless anything extraordinary happens this late in the day, the approaching weekly close will likely leave things looking more bearish than bullish on t/f's 1hr, 4hr and Dly, (at least,) but no discernible trends on t/f's from 1hr to Wkly. There have been 5 x failed 4hr attempts to stay above the Mthly Pivot, (which is @/around 3471,) in the week coming to a close. 3302 is probably the next target for the bears,? being LML. (CYL is 3159, and the Yrly Pivot is @/around 3120.)

EDIT: corrected typos.

4hr below

SL hit. The selling pressure was still strong.

I never enter without a stop loss!

... just to expand on post above re 1hr and 4hr. Let's take the 1hr, - see chart below. The t/f has as stated, experienced a defined range b/o to the downside, and closes the week looking bearish overall. This downside b/o was pretty savage, and 'off the edge of a cliff/straight line' after price tested the top of the range and rejected it, price exploded down further on the U.s Nfp reaction. The t/f however is not yet in a downtrend despite the strong down-move, at least so far as fractal swing analysis is concerned, as one measure for assessing whether a t/f is trending or rangy, (there are others.) I have marked the chart up as below. 5min, 15min, and probably 30min closed the week in downtrends. It would be unusual (geo-political developments/gaps allowing,) for 'sell the rally' discount hunters not to attempt further downside, (after a strong bearish move like this,) on any (@ least initial) upside pullback.

1Hr below

Hi members of ths thread, though its not the theme but just...


My analysis is further than what is shown in the chart but if you observe all the recent btc bull runs they occur be4 people start sharing signals on socials and it is close once again use you edge to verify if the buying point is good for you, then buy and hold for atleast two years or 3.

Me n my team caught the last one early enough, you too can ,re-analyse and see if yhere is a possibility and take action
we sharing this information to unblind people, not advice ,we assume you have experince in trading.
Mark the price level @57746.20 and this date dont say you were not told or informed

the sl is only 50pips less than that of gold then just hold

...the dly chart below shows the 'Ranginess blocks' A, B, and C, that were effectively 4hr ranges in and of themselves, or in the case of C, within them. Range A saw an un upside b/o that established Range B. The upside break couldn't be sustained after the ranging @ B, and price broke to the downside to establish Range C, which is now at least looking like it might experience a downside break of 3202 - this Dly range bottom, after the definitive downside breaks of the 1hr/4hr and 4hr ranges within it, (discussed in my posts above.)

Price will likely not be able to assume a definite direction on the longer t/f's (dly+,) if indeed it does, until either 3202 or 3509 (at least) breaks decisively, with a retest or not.

Dly below