We like the weekly price action in cable futures and would flip from short to long. (Did you at least trim your short position when daily PA started getting hot the other week?) Keep an eye on the monthly chart too.
;) Liquidity grab in the market Trendline creating strong support but also a lot of liquidity My guess is Market will grab liquidity and Then Move Foward Only if Confirmation.
Waiting for rejection off the liquidity zone. Then I will look to sell from that zone. Selling only after the break below the HMA and the retest of the liquidity zone **This is just my trading thought process and does not constitute as financial advice. **Please trade with proper risk management*
Big time frame show down trend In my opinion correction is over and price seem to continue go down Flat correction ABC and head and shoulder look confluent so I used it entry this order 1.200 is target with about 2 RR
📉Bearish Bias Next Week 📉 🔴Weekly IRL Tagged 🔴Strong H4 Selloff After W-IRL Tagged 🔴Looking to Short into Weekly ERL 🎯Target: 1.2043
By Wyckoff logic selling climax might already pass so mean reversal strategy use in this trade setup momentum bullish divergence indicator such as ROC and MACD confirm this entry
On the backside of the short we can ape in for the bounce off the bottom, would not recommend futures as the open interest on the contracts will be low, options is how to play this. Safe side is sell the put (don't advise selling naked unless you can manage the trade at all hours) or a credit spread to hedge any risk. This will provide ample time to collect the...
Looking like cable wants to retest the STONG support zone it broke recently. As we know, when support breaks, it becomes RESISTANCE. A good BREAKOUT entry would be below the 12:00am candle today. Please remember, Jackson hole is today so exercise extra caution and if needs be, reduce your lot size. Remember, protect your profit.
The news release was bad for the dollar. it should soon reverse. If the DXY falls off, cable should gain some strength. Looking for a BREAKOUT LONG above the current 30 min candle. It seems like it has re-tested the bottom of the rage, so it makes sense to look for longs here. Again, ONLY ENTER A BREAKOUT LONG ABOVE THE CURRENT 30 MIN CANDLE.
Disclaimer-Doing this mobile, it really sucks to be honest but here we go. British Pound October 2023 - Short Why V instead of U, concerns about the open interest on the September contracts on the CME. Open interest shirks about one month out, don’t get left holding the bag. For option traders, this does not affect your trade, your preference should be 6BU3...
Looks like the pound has retested the bottom of this mid term trend. Placing a BREAKOUT long above the current 4HR candle with a target at the top of the range makes sense. Expecting cable to stay range bound for the foreseeable future, at least until we can discern whether the UK will have a hard or shallow recession.
Financial Losses: Trading in the Forex market carries the risk of financial loss. It's important to carefully assess your financial situation and only invest funds that you can afford to lose without affecting your lifestyle or essential financial obligations.
Financial Losses: Trading in the Forex market carries the risk of financial loss. It's important to carefully assess your financial situation and only invest funds that you can afford to lose without affecting your lifestyle or essential financial obligations.
The British Pound is at CoT extremes not seen since 2007. COT RSI also high on weekly chart for commercials and low for speculators.
Remember, Forex trading involves risk, and there are no guarantees of profit. It's important to invest only what you can afford to lose.
Consistency and Long-Term Perspective: Forex trading is a marathon, not a sprint. Focus on consistency in your trading approach and aim for sustainable profits over the long term. Avoid getting discouraged by short-term losses and stay committed to your trading goals.
By price structure and volume analysis we can identified selling climax m30 show double bottom that already break and retest to confirm this entry also in 4H if we check Elliott wave it possible that now GBPUSD is on 3th wave
M6B had a huge drop today and checks all the boxes on the change of structure, liquidity grab on both the 4hr and 15m charts. On top of that the .618 (Orange) is right at the $1.2641. If this breaks into the grey box below and does not close below $1.2609 then it is a really good solid play. I put the PT at $1.2755 which was yesterday's close, but the .618 on...