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Cable Update (GBPUSD)

  • #875,181
  • Jun 17, 6:46am (7 hr ago) Jun 17, 6:46am (7 hr ago)
Im still looking for a long entry at 1.3397 if we get a rejection there , if not then ill wait until price breaks below and ill look for shorts as price will most probably will want to take out the lows at 1.3330.
  • #875,182
  • Jun 17, 7:04am (6 hr ago) Jun 17, 7:04am (6 hr ago)
Quoting Gbpusdfreakk
Im still looking for a long entry at 1.3397 if we get a rejection there , if not then ill wait until price breaks below and ill look for shorts as price will most probably will want to take out the lows at 1.3330.
Understandable bro, Currently at a short after the Consolidation breakout and multiple 5m confirmation. Also got the Hourly break 2 minutes ago. Targeting 1.3392 from where I expect it to base its direction. If it breaks below and doesn't wick out on a HTF, then I'll follow the trend and look to fill the gap over the days.

If not, then a reversal from 1.3392 ish here is expected. Market's done it 4 times before.
  • #875,183
  • Jun 17, 7:23am (6 hr ago) Jun 17, 7:23am (6 hr ago)
I think we are still trending lower...expect more weakness under 1.3380...
Attached Image (click to enlarge)
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Get the Lag out
  • #875,184
  • Jun 17, 7:56am (6 hr ago) Jun 17, 7:56am (6 hr ago)
I had my long entry at 1.3397 , price rejected at 1.3399, if price successfully breaks above 1.3421 there is a high probability we could be facing a reversal to the upside !!
  • #875,185
  • Jun 17, 8:00am (5 hr ago) Jun 17, 8:00am (5 hr ago)
Quoting ZeroLag
I think we are still trending lower...expect more weakness under 1.3380... {image}
There is still some resistance left at 1.3390 levels before continuing, in my opinion 1.3460 is most likely to be hit soon if price of course fails to break below 1.3390.
  • #875,186
  • Jun 17, 9:07am (4 hr ago) Jun 17, 9:07am (4 hr ago)
Quoting Gbpusdfreakk
{quote} There is still some resistance left at 1.3390 levels before continuing, in my opinion 1.3460 is most likely to be hit soon if price of course fails to break below 1.3390.
For right now even my short term chart looks like we are in a downtrend..

That could change just as easily, but for now, that's my read...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 23 KB
Get the Lag out
  • #875,187
  • Jun 17, 9:08am (4 hr ago) Jun 17, 9:08am (4 hr ago)
Quoting Gbpusdfreakk
{quote} There is still some resistance left at 1.3390 levels before continuing, in my opinion 1.3460 is most likely to be hit soon if price of course fails to break below 1.3390.
If the level, like 1.3390, is below the current market, we call it support; if the level is above the market, like 1.3420, we call it resistance.
Always trade your own plan...I don't provide trading signals.
  • #875,188
  • Jun 17, 9:24am (4 hr ago) Jun 17, 9:24am (4 hr ago)
yuh that's what I ment my bad bro typo*
  • #875,189
  • Jun 17, 9:30am (4 hr ago) Jun 17, 9:30am (4 hr ago)
If price breaks below 1.3990 most likely it will sweep the liquidity resting at 1.3324 and maybe lower !
  • #875,190
  • Edited 10:21am Jun 17, 9:48am (4 hr ago) | Edited 10:21am
All I say price will go down, this not on h1, this is on h4. How far I don't know, but many hours it will go.
I would say this is trend for several days, not one, trend up was from 8 till15. Now trend down, it can go up, but t after crazy down will be.
  • #875,191
  • Edited 10:33am Jun 17, 10:14am (3 hr ago) | Edited 10:33am
Quoting ZeroLag
I think we are still trending lower...expect more weakness under 1.3380... {image}

Hello Friend,

If you don't mind, what is the name and setting on this your indicator on chart ?

Thanks.
Market Structure is the King.....
  • #875,192
  • Edited 10:30am Jun 17, 10:17am (3 hr ago) | Edited 10:30am
GU is now currently at minor Support 1.3390 zone. Whether it will revisit 1.3430/1.3440 zone before finally crashing down or break 1.3390 directly is a function of Price Action and Liquidity.

Next Support at 1.3325/1.3355 Zone.

Good luck and trade safe.
Market Structure is the King.....
  • #875,193
  • Jun 17, 10:41am (3 hr ago) Jun 17, 10:41am (3 hr ago)
Quoting Abeylyn
GU is now currently at minor Support 1.3390 zone. Whether it will revisit 1.3430/1.3440 zone before finally crashing down or break 1.3390 directly is a function of Price Action and Liquidity. Next Support at 1.3325/1.3355 Zone. Good luck and trade safe.
Definitely !!!
  • #875,194
  • Jun 17, 10:43am (3 hr ago) Jun 17, 10:43am (3 hr ago)
Quoting ZeroLag
{quote} For right now even my short term chart looks like we are in a downtrend.. That could change just as easily, but for now, that's my read... {image}
I agree, there is still a minor support zone at 1.3390 and once its broken price will continue down.
  • #875,195
  • Jun 17, 11:16am (2 hr 42 min ago) Jun 17, 11:16am (2 hr 42 min ago)
to all. You can wait this 1.3440 . As you said.
  • #875,196
  • Jun 17, 11:28am (2 hr 30 min ago) Jun 17, 11:28am (2 hr 30 min ago)
Quoting ZeroLag
I think we are still trending lower...expect more weakness under 1.3380... {image}
How do you get the lag out if you're using historical lag in your oscillators. Here's a value driven (leading model). No matter what currency you're trading, if you eliminate the price action derived analysis and focus on the global nature of FX markets and value driven models, the analysis will walk circles around the uncertainty and blindness of price action related risk models where you forever feel like you're gambling.
Attached Image (click to enlarge)
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  • #875,197
  • Jun 17, 11:29am (2 hr 29 min ago) Jun 17, 11:29am (2 hr 29 min ago)
I am looking for price to go to the double bottom @1.3304
Price is slowly being guided down by the triangle structure imo
Attached Image (click to enlarge)
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If you think you can or cannot do it you are correct
  • #875,198
  • Jun 17, 12:41pm (1 hr 17 min ago) Jun 17, 12:41pm (1 hr 17 min ago)
... below is what 1hr chart looks like just for me ahead of this U.s Fed/Fomc data/news, which is @ @ top of this hour.


NB: The pink zones on 1hr chart are prev 30min sw hi or lo zones, -and- on 4hr chart are prev 2hr sw hi or lo zones. Ie when the 1hr or 4hr does not close as a fractal swing, as I look at 2 x t/f combo's, ie 1min/5min/30min/2hr -and- 3min/15mmin/1hr/4hr, for those that are new here.
Attached Image (click to enlarge)
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Trader with an Edge.
  • #875,199
  • Last Post: Jun 17, 1:29pm (28 min ago) Jun 17, 1:29pm (28 min ago)
... and this is what it looks like 1/2hr after. 1hr range broke @ least!

1hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 83 KB
Trader with an Edge.
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