GBP/USD hit a major psych level of 120.00.
The algos are accumulating stops under that level by repeated penetrations below it.
FOMC 15th at 2pm EST and BOE interest rate decision on the 16th at 7EST.

Looking for lots of volatility that concludes with a bullish run.

Looking for a long into CAD/CHF.
Nice carry for a longer term move depending on your broker.
127 to 161 should be longer term targets with the reversal of the 6/16ths move to 0.77 being a shorter term target.

breakdown still possible

Tradehunter wrote: Thu Aug 18, 2022 7:38 am breakdown still possible

One more stab at the lows and you will be seeing the bottom

target hit

30 yr

The GBP crash is a great reason to have a big candle alert indicator on our charts
These liquidity events are often brutal swings that can be traded in the opposite direction.

Tradehunter wrote: Mon Sep 26, 2022 11:15 pm The GBP crash is a great reason to have a big candle alert indicator on our charts

Possibly Beatlemania's new setup could also be used for reversal-trades (why would I need a big-candle-indie).
If you have an affinity for risk-taking, of course:

josi wrote: Tue Sep 27, 2022 12:01 am Possibly Beatlemania's new setup could also be used for reversal-trades (why would I need a big-candle-indie).
If you have an affinity for risk-taking, of course:

I think your chart speaks for itself, its nothing but chop for the previous 6-7 days.
I added 'big candle alert' set to ATR on the one hour and with a trigger on the 15 for an excellent entry.
Volatility and liquidity events move faster than indicators so you have to go down timeframes to catch them properly and set stops.
Its a fairly rare event but a worth while addition to a system for taking reversals that will have a high win probability, especially into liquidity zones. Hey and what is this 'casual member' BS

key level, reversal possible, long term low
back thru the falling wedge