After large rallies in price, in either direction, price may find a level and pull back. Others will join in on this pull back and try to send the price back in the original direction lower or higher, but sometimes the price may fail between 38.2% ...

Cable Update (GBPUSD)

A failure here forms an hourly 1-2-3 reversal.

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I shorted 1.4549 . Still looking to buy lower, towards 4400

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I'm looking to long out of 4360/4400.

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Triple toping?

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I have this area already on my chart... we took off from here before the current bull move. I haven't ruled this level out either. Hopefully we get there, I'm still short.

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I am with you on being bullish G/U. I even told myself and found many reasons to be bullish this week. But I still cannot ignore trading near s/r, as this is my style of trading. If we open London near 4550/4600, I can see London selling into this. ...

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38.2 retracement

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Oh sophiaaaa

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Waiting patiently for 4495.

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USD index, 15 minute.

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I've never used elliot wave analysis but I am familiar with it. Could the 4550 are be the end of wave 5? Now we should see an ABC correction?

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My first short stopped but I am short from 4535 now, so yes.

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To me that looks like the up move is coming to an end for now until more buyers hop on at lower levels. We just finished a third wave of divergence on the 1 minute MACD so I can see some downside from here based on prior experiences with such moves.

Cable Update (GBPUSD)

Have a target in mind?

Cable Update (GBPUSD)

1.4540 = 50% of 4990-4100 plus daily R1 and prior resistance zone. Maybe one more small move up before we head back down.

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1 minute MACD bearish divergence at the 50 level is enough for me. This resembled the last time we peaked. Bounce off resistance, higher high plus divergence to the downside. Any ideas for a target once the trigger is pulled?

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I was stopped -20. Now at the 50 level I am looking to short again.

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I was just filled at 4512. Stop 4532.

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Filled it hardd lol Paused now at daily R1.

Cable Update (GBPUSD)