Cable Update (GBPUSD)

longs for 1.477 min are valid with no closes below 1.445x... 1.4476 50% rt... the retest of 1.4616/18 after the high sets up 1.415x valid target without a HH//1.433/5x will provide something also if its valid, circumstances will change... I'm probably wrong, got most if not all wrong last few days on GBP so

cant tell if this is legit argument building or not?

Den I think it's best not to chase long trade setups but watch for market reaction next few sessions.

Check out this TL on H1 below. It's legit connects all the latest lows and the TL was broken this session.
Second warning sign that bias is shifting / or we are taking a break is that session close < session open apparently for today.

This means 2 things: bull momentum fading now. And that probably we will range 1-2 sessions.

Then the decision will be made either we gain more ground and push beyond 4600 - then upside targets are valid @ 4800-4850.
However if we range and price fails to gain momentum above 4550 we could turn bearish enroute for 4300.

Also when we are ranging it's important to recognize that we're in range and not get locked in it. That's if you are a position/swing trader.
If yous are trading intraday you can make good money in the range.

PS: re trendlines, always try to plot TL which will describe the latest highs/lows with best fit, do not overfit though.

put fib ext on long to see next trade on the 4 hour ?? regards

looking @ dollar index H4 you can see that we are also locked in the congestion zone. Indicates some ranging sessions.

If you're up for it

Thursday session ranging: sell high @ 4580 buy low @ 4470-80. high confidence that we won't pop either way.

Hahaaa...Green pips to you.

How is it going bro? Banked points in GA? No trade on GNZ? Looks top heavy that SOB. ))) 2.1450 looks good.

NZD USD looks setup for 100+ points sell off 5 minutes 6700 looks decent

Going well thx brother, just watching to see if we get to 4350 to go long

Got to go, get kids to school

GNZ it's insanity bro one of those wtf moments I guess that's even where Cramer will fail.

no idea what's in RBNZ statement what made NU pumped, but H4 sure does look like H&S setting up nicely

NZD USD daily pump and dump on H&S?

Waiting to get filled.

Short Entry: 0.69449
SL:0.69861
TP:0.67460

too early SL too close to market.

should be SHORT 6960-80 SL 7020 TP 6640 this will make for a solid swing trade.

?????/

hi mate sorry yeah closed out ga after that big 4hr candle (in ga thread). I don't see the point in trading the GZ wild cat, I don't need that pair ruining my day