CABLE STR INCOur cable trade from several days ago is playing out BEAUTIFULLY
lets see if we can get some SUPPORT STRUCTURE tomorrow with CPI
Hopefully anyone who missed out can get in before the main rally
Cable
GBPUSD Trading The Impulse PullbackIN this update we review the recent price action in GBPUSD and identify the next high probability trading opportunity and price objectives to target
Diagonal completed and gave directional changeWe hold this view as a long term view for the Cable. An ending diagonal in wave C signified the end of the bearish move and a start of Bullish Impulses, we keep holding long positions. First Target at touch of upper channel, Remember we in major wave 5. Long Term Buy!
GBPUSD shortFundamental - hawkish comment on rate hike (eventually USD will keep going strong)
Technically - It about to hit previous Swing High of 1.20XX
Action - do not short YET !!!! just YET
wait for rejection at 1.20XX
CABLEUSD / GBP take advantage of the recent pull back for a short trade into us jobs report. this is inline with my long USD theme since mid feb, find posts under username SEMISHAH
Cable, four-hourCable reached the peak of its recent range last week and formed a downward engulfing pattern before moving back to lows around $1.193. While a breakout is possible here depending on sentiment, with potential targets around round numbers like $1.19 or even $1.18 further ahead, the absence of any obvious driver ahead of the NFP might suggest that continuation of the range could be more favourable.
Last week's American PMIs brought some volatility on this chart but did not shift the technical picture significantly except in the case of a notable surprise. Instead, 10 March is particularly important for cable because British GDP and the US job report both occur then.
GBPUSD: Daily Flows This demand should be a springboard for buyers.
Although I don't think the buy will go far, I think it will go far enough to lure in a large portion of the market before the huge liquidity zone sweep.
Once buyers are screwed over, we can look at joining the market makers with the true buy position.
Have a great trading week gang...
CABLE BULLISH 3 DRIVEAfter some careful consideration of the price action I realized that CABLE was making a very RARE, DOUBLE HARMONIC pattern called the 3 drives.
In this case it appears as though CABLE is creating a BULLISH THREE DRIVES DOWN harmonic pattern. Which would frame our sells at this point and give us a nice potential EXIT to any CABLE sells at point #3.
From point #3 it is a very high likelihood that CABLE will experience some form of bullish impulse wave. The current trading plan is to ride the THIRD DRIVE TO THE BOTTOM, which is wave 3 of the second harmonic pattern that is contained WITHIN a 3 Drive pattern.
After completion of wave 3, the size of the resulting impulse wave should give clues to the next step in CABLE
GBPUSD Targeting An Equality testIn this update we review the recent price action in GBPUSD and identify the next high probability trading opportunity and price objectives tot arget
GBPUSD, Music is Stopping. #GBPUSD / 4H
Hello traders, welcome back to another market breakdown.
GBPUSD has made a doube top and now is trading bellow the Mid-range. I'll be looking to a feed the down trend if I get another chance above the Mid-range.
Trade safely,
Trader Leo.
Cable Long End of Month?-Short pull back to the top yellow pivot and look for slight move away & up to get in.
-The Dollar still has a lot of uncertainty with the Policy and Fed Decisions....
-Can we back Sterling yet?
Let me know your thoughts??
GBPUSDThe cable inline with the overall bearish trend. Anticipating it to climb today then continue going down.
A path for CableGBPUSD in Daily timeframe is making a pattern. If it'll complete that, will see 1.11 for next 2 months.
Otherwise, will rise and will go for 1.31
I have just wait for the two of them.
GBPUSD! WEEKLY DOUBLE TOP TO CAUSE CABLE REVERT TO ITS MEANGBPUSD has created double top & a re-test of the bearish-order-candle likely to cause the pair to revert to its mean...
N.B!
- GBPUSD price might not follow drawn lines . Actual price movement may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
#gbpusd
#cableEEKLY
GBPUSD..4H bullish view..GBPUSD is bouncing off the floor of the accumulation phase and it is supported by the daily trend line..may see the same reaction with the 4H demand zone ---->so expected up move up to the next daily key level with nice long trade with good R/R ratio...be safe...
GBPUSD H4 - Short Signal from 1.24150GBPUSD H4 - Not entirely sure of cable at the moment, and I think and feel there are more attractive and clear cut setups, we discussed this on a coaching call last night, and compared this pair to XAUUSD and USDWTI, of which, we decided to signal XAUUSD shorts to the group, which unfolded nicely, whereas GBPUSD has yet to do so. Ultimately, shorts from 1.24150 wish would be attractive, with stops around the 1.24600 mark. Targets, previous support price of 1.23000.
GBP/USD could be about to tank 800 pipsThe bearish combination of a possible double top and broken rising trendline suggests GBP/USD will test the neckline of the pattern.
If the double top completes, the price objective is 1.3120
GBPUSDThe weekly candle might close as a doji then we might break the resistance next week. I will maintain a bullish bias on the cable.
GBPUSD 1H Showing signs of weaknessThe GBPUSD pair appears to be displaying signs of weakness, with the upward bias on the 1-hour chart appearing to fade. If the price closes below the channel or trendline, I expect it to reach the 1.23250 and 1.231300 price levels. Share your thoughts on this and don't forget to follow me for updates.
Will the GBPUSD Bullish Outlook Continue or Correction Coming?The GBPUSD pair is showing bullish signs, but a correction is likely. Our previous target of 1.24233 has been met, but new factors may impact the pair in the coming week. Despite the Chinese New Year holidays, market expectations for high-impact news releases such as Flash Manufacturing PMI and Advance GDP q/q may lead to volatility. GBPUSD is expected to reach for liquidity above the high of 1.24468 on December 14th, 2022. Look for reversal patterns for potential retracements and price action balance around the 1.20226 and 1.20000 levels. It's important to conduct your own research and analysis before making any trades.
What's your opinion on this idea? Please share with me in the comment below and also like and follow for more updates. Wish you all a profitable trading or investing journey.
GBPUSD (Cable) H4 Bullish Outlook! Will this happen next?The GBPUSD currency bullish force looks good for the coming week. The GBPUSD pair price seems to have cleared the minor resistance levels 1.2120 and 1.2140 and retested the same. So, we anticipate the price to continue to rally to the 1.2420 and 1.2450 range.
There is high-impact news that may effect significant price moves in this new trading week. Notable, among them is the Claimant Count Change and CPI data report in the UK which surely impact its currency the British Pounds GBP.
Also, we expect the US to release reports for Empire State Manufacturing Index, Retail Sales, Core PPI, and others.
With the expectancy of these data in the new week, the GBPUSD pair is likely to see high volatility.
Please me know what you think and follow up for more updates this week.
Cable Pushing Higher After UK CPI Data Cable is back in an uptrend after a capitulation back in September, with the current price making some extended move up after breaking above 1.2 psychological level. We see Cable unfolding a five-wave bullish impulse from the lows, with more upside coming after recent pullback from the highs that unfolded as a correction. Ideally, that was subwave four that can not send the price back into an uptrend after a break above 1.2150 resistance. Ideally thats now the beginning of a new fifth wave higher. Some spectators are also betting on GBP as they believe BoE should be more hawkish with CPI at 10.5%.
