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Cable

GBPUSD Today's Projection 04/10/22GBPUSD GBPUSD rose and reached the range 1.13025 - 1.13502 after successfully breaking out yesterday. Today most likely the Cable will make a minimum price correction to support 1.13025 or to 1.12520 before continuing its rise to resistance 1.14139 while waiting for the MA20 to make a golden cross with its MA100 and confirm the full uptrend. Possible to take Doing BUY on this pair does not get a good RR. R3 1.14139 R2 1.13695 R1 1.13502 PV 1.13025 S1 1.12520 S2 1.12016 S3 1.10793
Long
by AbsoluteWillid
GBPUSD Multitimeframe, structure, supplyGBPUSD is close to main supply zone in current bearish price expansions. And though I don't like to trade such big impulses (because of big amount of inside structure), it's possible to look for shorts, if LTF confirms. 📉 Text marks: 🔹 IL = impulse leg. Inside of IL we can usually see inside structure, which is secondary in nature, like a market noise, unless you trade it on LTF, as it’s own IL. 🔹 ph, pl = protected high or low, which holds current structural impulse. 🔹 bos = break of structure . Based on candle body close below/above previous structural impulse. 🔹 rsz, rdz = refined supply and demand zones. Specific areas to look for LTF confirmations. They are manipulative up-moves before real down moves, or vice versa. Strong hands (the Composite Man, as Wyckoff called it) often come back to such zones to close their manipulative orders at breakeven, before pushing prices further. If body closes outside of the zone, in most cases it will mean the cancellation of the setup. 🔹 if ltf confirms = entry only if there's a shift of structure on lower TF inside of rsz or rdz, or any other type of backtested and approved confirmation. 🔹 liq target = liquidity target: next profit taking levels for strong hands, our main targets based on current price action. ☝️Disclaimer: ALL ideas here are for EDUCATIONAL and MARKETING purposes only, not a financial advice, NOT A SIGNAL. I share my view on the market and search for like-minded traders. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as trading in a simulated environment. 👉I believe that "right or wrong" mentality is a fundamental flaw of any beginner. In reality, a trader is right only when he executes the system and follows his rules, and he's wrong only when he's taking random setups. A trader should find a system he's willing to work with long-term, hindsight test, backtest and then execute live, then refine until perfection. 🚀Thanks for your BOOSTS and support🚀 💬Send your comments and questions below, share your ideas and charts, I'll be glad to talk to you💬
Short
by Yelli_trades
20
GBPUSD Daily Projection 30/09/22GBPUSD GBPUSD finally confirmed its temporary uptrend after bullish engulfing last night, broke resistance 1.08693 and reached resistance 1.10793. The price probably will make a price correction today to its new support at 1.08693 before another attempt to penetrate resistance 1.10793 will be carried out up to the 100 MA at 1.12016. Stay alert because on a major or daily basis, Cable is still in a strong downtrend. Be careful, because today is the last day of the month. Where is the possibility that the price will make a correction to close the monthly candle. Possible to take Doing BUY on this pair does not get a good RR. R3 1.13025 R2 1.12520 R1 1.12016 PV 1.10793 S1 1.08693 S2 1.07258 S3 1.06417
Long
by AbsoluteWillid
GBPUSD Daily Projection 28/09/22GBPUSD GBPUSD moved quite slowly yesterday after correcting its MA8. The price was no longer able to break support 1.06417 for the second time and kept going back and forth to resistance 1.07258 which is also the current MA8. Use a breakout strategy on Cable if you want to enter this pair. Also be aware of the Daily correction which has the potential to reach 1.10000 It is better to wait for the clarity of the trend before entering this pair. R3 1.12016 R2 1.10793 R1 1.08693 PV 1.07258 S1 1.06417 S2 1.05237 S3 1.03984
Short
by AbsoluteWillid
Pound weak and isolatedThe threat on the long term chart is unpleasant for GBP, 1.15xx and 1.05xx have been set up. Just at the right moment, because BOE cannot now recapture the short-end of the rate curve with inflation still to reach his goal. To open things up, a simple test below 1.175x is all that is needed with Jackson to unlock the flow; a textbook swing ever since we saw restraint at 1.40xx. If 1.175x is taken then 1.15xx is next to account, leaving 1.05xx wide open for this to collapse like a house of cards. After 1.15xx, I suspect the helplessness of buyers will be quite touching. This swing position is technically very similar to the previous GBP waterfalls we traded together with Brexit, Elections etc, a classical momentum move. The prognosis for the Jackson flow seems quite good for sellers (not overwhelmingly so for those who are still sidelined). A test of the barricade at 1.19xx seems manageable, and where I am actively looking to add shorts, because for that the buyers would have been exhausted. Please note, invalidation only with closes above 1.20xx. A master plan! Let's see how our counter attack move plays out.
Short
by ridethepig
8
ridethepig | GBP for the Yearly Close📌 @ridethepig GBP FX Commentary for the Yearly Close Here I will start by presenting the following two diagrams: The safety of the Pound turns out to be rather deceptive with a Johnson cabinet which is becoming increasingly weak. And once more, surprise surprise the reason no-deal brexit is being blocked after Biden blockades is a sufficient explanation of the 'rescue' attempt from globalism. So the truth seems to come from the following facts; A lot of Brexit depended on the Trump protection. Without it Johnson is hanging and must scramble back to the EU for security. We can argue about the MT and LT impacts of Brexit but the ST includes a loss of initial market access which is unfavourable for GBP anyway. The flow is clearly balanced towards the downside, despite the dollar becoming quite weak and resistance looks overprotected. We will dig deeper and more frequently into the macro implications again in master praxis to track the inner flows. I will aim to close quite a few more of the original technical maps before we dissect the whys and hows of its worth. Thanks as usual for keeping the feedback coming 👍 or 👎
Short
by ridethepig
7
GBPUSD Daily Projection 27/09/22GBPUSD GBPUSD tried to fight back its downtrend today but the price was rejected at 1.08693 while closing the gap that occurred at the beginning of the last week in September. The cable is currently forming a doji in the range 1.06417 - 1.07258 which if this becomes a higher low, there is a possibility that GBPUSd will temporarily maneuver at least to resistance 1.10793 as well as correction to the MA20. Possible to take SELL STOP 1.06127 SL 1.07724 TP 1.04144 R3 1.12016 R2 1.10793 R1 1.08693 PV 1.07258 S1 1.06417 S2 1.05237 S3 1.03984
Short
by AbsoluteWillid
GBPUSD MID TERM HUGE SELL OPPORTUNITYUse appropriate risk management. Last few posts have been incredibly successful so I'm using lower risk on this one. My strategy is a confidential, but those that trade my posts don't get carried away with my extreme accuracy and how I usually have little to no drawdown - USE SLS! This is a mid to potentially long term trade. The target is lower than GU has been my entire lifetime and probably yours too, so most will disagree but I like to differ from the crowd in trading so the target is very much achievable nonetheless.
Short
by MBL7
1
GBPUSD Today's Projection 21/09/22GBPUSD GBPUSD again tried to penetrate the support area 1.13502 - 1.13695 for the third time this week and re-ejected. The downtrend is still quite visible in this pair with a reversal point at resistance 1.16714. Tonight's FOMC will determine whether the Cable will continue to fall deeper through this support or start a reversal and end the downtrend. We test the waves with BUY LIMIT at 1.13750 SL 1.13397 TP 1.15400 R3 1.16714 R2 1.15414 R1 1.14139 PV 1.13695 S1 1.13502 S2 1.10793 S3 1.08693
Long
by AbsoluteWillid
2