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Cable Update (GBPUSD)

  • #875,221
  • Jun 18, 5:02am (5 hr ago) Jun 18, 5:02am (5 hr ago)
You can see on 4hr chart below where the upside p/back from YL met 'sell the rally' sbr supply @ today's 3325 AH/CDH (the p/back hi off y/day's 3262 lo upside p/back,) and from there it's been all down, price reaching the 85.4% fib of the 3159 (CYL) - 3658 up-move @ the CDL/CWL/CML after a 1st downside b/o of today's 3276 AL then 3262 YL, both still true correct at time of writing.

Some 1hr and 1hr/4hr stuff etc between3233 CDL/CWL/CML and that prev 1hr/4hr/dly/wkly/minor mthly sw lo zone = prev supp x 1 = pot supp that extends down to 3278, then said 3159 CYL, including a prev 1hr/4hr sw lo zone = pot supp that extends down to 3211.
111% of 30day adr travled so far today, and 117% of 13wk awr so far this week. Wkly S3 is @/around 3201.

UPDATE: Dly S1 has been reached @ the new CDL.

4hr below
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Trader with an Edge.
  • #875,222
  • Jun 18, 5:09am (5 hr ago) Jun 18, 5:09am (5 hr ago)
Comfortable to go long risk here. Nice wide stops.
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  • #875,223
  • Jun 18, 5:15am (5 hr ago) Jun 18, 5:15am (5 hr ago)
Quoting Guy1969
Comfortable to go long risk here. Nice wide stops. {image}
I agree with long from 1.3230… for 1.3330
Data + Stat + Risk/Emotions Management
  • #875,224
  • Jun 18, 5:22am (5 hr ago) Jun 18, 5:22am (5 hr ago)
Is there a chance of increasing interest rate? That would make the price bullish.
  • #875,225
  • Jun 18, 5:28am (5 hr ago) Jun 18, 5:28am (5 hr ago)
Quoting Pat Chiko
{quote} {image}
Yea Patski's back, today just got better...
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  • #875,226
  • Jun 18, 5:32am (5 hr ago) Jun 18, 5:32am (5 hr ago)
... the 4hr part of that prev 1hr/4hr sw lo zone = pot supp (that extends down to 3211) reached @ the new 3225 CDL, which is @/around Dly S1 as mentioned. Also there- a seperate prev 30min sw lo zone = pot supp that extends down to 3218, (1hr part starts circa 3217.) Dly S2 is @/around 3158. 122% 30day adr traveled today so far now.

2nd downside b/o of 3305 LWL (1st y/day,) still true so far, so Dly 3302-3509 range broken to the downside, an upside p/back to bottom of it from YL, and now the 2nd downside b/o of it today is currently looking decisive.

1hr below
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Trader with an Edge.
  • #875,227
  • Jun 18, 5:44am (5 hr ago) Jun 18, 5:44am (5 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 1.3225/1.3255 Zone. Good luck and trade safe.
Price now inside the Support Zone 1.3225/1.3255.

Dominant intraday movement is downward. Best bet for me is to Sell at pullback and watch-out for the current support.

Apologies for initial wrong typo.
Market Structure is the King.....
  • #875,228
  • Jun 18, 5:53am (4 hr ago) Jun 18, 5:53am (4 hr ago)
Quoting Abeylyn
{quote} Price now inside the Support Zone 1.3225/1.3255. Dominant intraday movement is downward. Best bet for me is to Sell at pullback and watch-out for the current support. Apologies for initial wrong typo.
Hi. Friend, I don't know what you base your 'support zones' on? Just to avoid confusion for readers of the thread, when I refer to 'potential supp/sbr (or indeed) res/rbs zones,' mine are based on previous fractal swing lo or hi's respectively, on the t/f mentioned, that may or may not offer supp/sbr or res/rbs respectively, if challenged again by price after they have formed. So on 4hr, and the last 2 on 4hr and Dly, there is a prev sw lo zone to 3211, then one to 3178, then one to 3159, (3178 being a 1st test of the one to 3159.)
-----------------------------------

Dly below
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Trader with an Edge.
  • #875,229
  • Jun 18, 5:55am (4 hr ago) Jun 18, 5:55am (4 hr ago)
waiting for GU interest rate decision
  • #875,230
  • Jun 18, 5:59am (4 hr ago) Jun 18, 5:59am (4 hr ago)
Quoting Headland
{quote} Hi. Friend, I don't know what you base your 'support zones' on? Just to avoid confusion for readers of the thread, when I refer to 'potential supp/sbr (or indeed) res/rbs zones,' mine are based on previous fractal swing lo or hi's respectively, on the t/f mentioned, that may or may not offer supp/sbr or res/rbs respectively, if challenged again by price after they have formed. So on 4hr, and the last 2 on 4hr and Dly, there is a prev sw lo zone to 3211, then one to 3178, then one to 3159, (3178 being a 1st test of the one to 3159.) -----------------------------------...
Mine was derived from a technical indicator which is aligned inside the daily zone that was mentioned.

If this zone is broken, I will begin to look for the next support...

This is also obvious if line is drawn on daily chart to see the position or zone mentioned.
Market Structure is the King.....
  • #875,231
  • Jun 18, 6:03am (4 hr ago) Jun 18, 6:03am (4 hr ago)
still no clear signs of bulls yet
  • #875,232
  • Jun 18, 6:03am (4 hr ago) Jun 18, 6:03am (4 hr ago)
Quoting Waveskierrob
{quote} Yea Patski's back, today just got better... {image}
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I come from the future
Test 169 to 10K ? Return Today: -8.4%
  • #875,233
  • Jun 18, 6:07am (4 hr ago) Jun 18, 6:07am (4 hr ago)
Quoting Meer-Shayhak
still no clear signs of bulls yet
We may likely need to wait till tomorrow London Session...
Market Structure is the King.....
  • #875,234
  • Jun 18, 6:20am (4 hr ago) Jun 18, 6:20am (4 hr ago)
Quoting Abeylyn
{quote} We may likely need to wait till tomorrow London Session...
I'll buy all GU and EU dips, a rate hold is not that bad.
  • #875,235
  • Jun 18, 6:50am (4 hr ago) Jun 18, 6:50am (4 hr ago)
Quoting Pat-Chiko2
{quote} {image}
Now PC2 ...Dollar up, US Indices up (well done Trump), am I dreaming or what...
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  • #875,236
  • Jun 18, 6:52am (4 hr ago) Jun 18, 6:52am (4 hr ago)
Quoting Abeylyn
{quote} We may likely need to wait till tomorrow London Session...
the organic nature of the market is slowly getting back. Next week gonna be likely smooth.
MARKET ABHORS LAZINESS,DOING MY HOMEWORK ....
  • #875,237
  • Jun 18, 6:54am (3 hr ago) Jun 18, 6:54am (3 hr ago)
...The market doesn't seem to care that I've got some pretty coloured rectangles on my chart! I shall be writing a very strongly worded letter to ......
Trader with an Edge.
  • #875,238
  • Jun 18, 7:13am (3 hr ago) Jun 18, 7:13am (3 hr ago)
Quoting W0lfram
Given the realised volatility, P(close>open) is 31% (N=132)
│ P(new high) 53% (N=59)
│ P(new low) 72% (N=71){image}
│ Seasonal (Jun): base-rate P(close>open) 60% (N=25)
│ Most likely path: chop near the mth open, with real risk of probing a new mth low first

Post from May 17:
Quoting W0lfram
back to 1.32 in Q2? At current state I would say Q2 high is established
{image}
~1.29 is on my radar till the year's end
Nice to see that bears broke seasonal pattern
[+]
Air force
  • #875,239
  • Edited 7:31am Jun 18, 7:18am (3 hr ago) | Edited 7:31am
...price met demand @ top of a prev minor 1hr sw hi zone = pot rbs (from 3rd April.) Cuts down on my correspondence!

1hr x 2 below
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Trader with an Edge.
  • #875,240
  • Jun 18, 7:32am (3 hr ago) Jun 18, 7:32am (3 hr ago)
DXY. Update, 100.80 rejection, P/A is back.
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