GU had a nice run to the downside during the Tokyo session after printing an NR7 bar on the daily TF, reaching 200% DRE. Are we done with the drop for today? 1.3405 level to be watched for potential resistance.

Coreg's EW+HP+D/W Range

How many pips are you willing to risk to determine if GU reverses and reaches your TP2 at 1.3300?

Cable Update (GBPUSD)

After four days, the Euro has finally reached 1.1660.

Coreg's EW+HP+D/W Range

Disregard the news. Stick to your playbook, patterns, signature setups...The resistance zone contains: PP, WH, Tokyo, and London high. There is liquidity. Same at the support zones.

Coreg's EW+HP+D/W Range

The first resistance zone held overnight, and if YL @1.3435 breaks, we should target 1.3415 min.

Coreg's EW+HP+D/W Range

WH @1.3464 becomes an important level to watch. Bulls on the second try were not able to hold this level.

Coreg's EW+HP+D/W Range

The first target is @1.3445 if the last support zone of yesterday's daily range breaks (1.3463-1.3458). image image image

Coreg's EW+HP+D/W Range

As of now, the Euro is still a few pips away from 1.1660 after testing a high of 1.1645 (iv). Will we reach that level? I’m not sure, yes, maybe, perhaps.

Coreg's EW+HP+D/W Range

It can be difficult to drop GU b/c there are many support zones below the market, although both WRE and DRE were reached. image The next resistance zone on the daily TF is between 1.3512 and 1.3418 image

Coreg's EW+HP+D/W Range

DmShka, before we need to deal with the biAtch resistance zone @1.3467-1.3488. But of course, it's a possibility to be considered.

Coreg's EW+HP+D/W Range

Price is above YCL, PP, and NY Open. Additionally, there is an ascending trendline. Bears need to take action if the GU is to drop today. Updated the 1H chart.

Coreg's EW+HP+D/W Range

One end of yesterday's range (YH) has been tested. Do we get the other end tested? IDK. We've already had three liquidity sweeps, and they didn't lead to a deeper drop, at least today.

Coreg's EW+HP+D/W Range

Whale, me too, b/c I'm a range trader; daily, weekly, last swing on 30M, Globex (range before NY Open), and I'm not ashamed to take 15-25 pips on the trade.

Coreg's EW+HP+D/W Range

GU printed another inside bar on the daily TF, so one of the ends (at least) should be tested today.

Coreg's EW+HP+D/W Range

war is ending again... image image

Coreg's EW+HP+D/W Range

RemyLou, let's start with the statement that the EU is making LL-LH on your TF of choice (4H). The EU reached the zone for the potential end of wave C (there is still a possibility that lower levels can be reached). If the leg B-C is done, the min ...

Coreg's EW+HP+D/W Range

birdland, I'm not saying the last support zone will hold, just be mindful that there are defenders.

Coreg's EW+HP+D/W Range

birdland, if you suspect the correction is over at 1.3307, 1.3338 is the level in the last zone that should hold to support your view. I hope I captured your idea correctly.

Coreg's EW+HP+D/W Range