Cable Update (GBPUSD)

GU turnued bullish on H4 and is trading in a bull flag .. another sign of bullishness but the daily is still bearish ...

Sell limit at 1.3423

Stop loss 1.3455

Take profit 1.3375

IMHO bears are still on in.. not even on the half way down.

Short scalping ~1.34344 first one here 1.34085

a closer look

...G/M, a bullish dly candle y/day. Bears were minding their own business when boom,! that Trump/Iran 'Taco' news again, (same old pattern,) and a big reaction up. Still no upside b/o of the prev 2hr sw lo zone = prev sbr x 3 = pot sbr though, that has contained price all week.

... 2 x attempts now to get north of the prev 1hr/minor 4hr sw hi zone = prev res x 2 = pot res that extends up to 3433 YH/CWH. Price right now testing pot minor supp zone to CDL, this being coexistent with, and a 1st test and hold of pot rbs zones (s,) on this 1hr t/f. 2nd downside b/o of today's AL right now.

4hr then 1hr below

near some support ~1.338 out part of the short scalp soon

Hey. EJ short in play. same set up. looking to get it to the daily mR1 or lower

...rbs demand came in near bottom of that prev 1hr sw hi zone = pot rbs, that starts @/around the Dly Pivot, with a 38.2% fib @ what is the new CDL, also.
2nd downside b/o of today's AL also proved false.

1hr below

Sold 1.3416

Weekly still in top strong bull setup with overhead strong supply and looks targeting support 3098 or 2745 before a last leg up try possibly , so waiting!!care
Daily ok as per ..

am in a buy

... another attempt on the prev 1hr/minor 4hr sw hi zone = prev res x 2 = pot res that extends up to 3433 YH/CWH, after a couple of 5min downside p/backs just. Wkly R1 just above, is @/around 3435, and remains untested so far this week.

4hr chart shows what awaits the bulls on any upside b/o above YH/CWH. Both downside b/o's of 3330 LWL so far were false this week, and no attempt yet so far in the week, on 3483 LWH.

EDIT: added 4hr bit

1hr then 4hr below

close BE

... never mind the 4hr stuff above YH/CWH, (re my post above,) bulls struggling with supply up to said 3433 YH/CWH right now, that came in on 1st test of today's AH.

1hr below

Short 1.3423

...I withdrew/deleted post above a potential 30min bullish exp tri, cause I had marked the chart up wrongly. Will update on whether it did turn out to have a pt.5 on the t/f itself later.

EDIT: update

Obviously Pt.5 long entry on close of that inverted pinbar didn't work out. Personally I took a small loss, closing manually on close of that next but one bearish-engulfing candle, before the drop. It was also a 1hr doji close there too.

Yes, there could be another pt 5 entry, again, either as a fib retrace or ext of move 3-4, but for me - that pattern is on this t/f is dead because of the intervening fractals on leg 4- the now as yet complete Pt.5

30min below

...of course we could be in for a long entry pt.5 on 1hr, (per description of an exp tri above,) if a trigger forms?

1hr below

close 30p