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Cable Update (GBPUSD)

  • #463,741
  • Aug 15, 2018 11:19am Aug 15, 2018 11:19am
Quoting kayikayi
{quote} Hey Sponge I am into symetry but combined with wave counting..where does your first segment end (level please)?
Hi kayikayi, mid point of the sideways move following the first leg.

I would be interested in your wave count for this pair.
Attached Image (click to enlarge)
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All charts/ideas based on UK time zone
  • #463,742
  • Aug 15, 2018 11:54am Aug 15, 2018 11:54am
GU 15M
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yes yes yes
  • #463,743
  • Aug 15, 2018 11:58am Aug 15, 2018 11:58am
Quoting sponge
{quote} Hi kayikayi, mid point of the sideways move following the first leg. I would be interested in your wave count for this pair. {image}
thanks I will look into it...you are the second person that came up with that level ....funny enough my friend too is into measured moves

here is my count so far:

http://www.tradingview.com/x/6EFfknQU/
  • #463,744
  • Aug 15, 2018 12:24pm Aug 15, 2018 12:24pm
Selling our current 2700 area atm, regular lot.
Will wait and watch resistance at our WS38 2723 if needs to kill this.
  • #463,745
  • Aug 15, 2018 12:49pm Aug 15, 2018 12:49pm
Update to our high odds play posted Aug 2. GBPUSD traded from 1.31 zone to 1.2661 today in 10 sessions - a 400+ pip play

Now expect some filling of range between 1.2650 to 1.28. Still very good odds of slow drift lower for the foreseeable future

Quoting user954
Posted this 5 sessions ago on Aug 2 when GU was at 1.31 area {quote} 5 sessions later its at 1,2850 and trickling lower. For those following the trade explorer, we couldn't take GU trades in this portfolio due to correlation with another of our portfolio, hence no trades were posted and instead posted comments here 1.2650 - 1.2720 is the zone to play for in the next 3 - 9 sessions.
  • #463,746
  • Aug 15, 2018 1:02pm Aug 15, 2018 1:02pm
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looks like there is a chance to get back profits which were erased by Qatar help new. One thing I am afraid is tommoror GBP retails sales
  • #463,747
  • Edited 2:59pm Aug 15, 2018 2:43pm | Edited 2:59pm
I know is too risky to go long too early, but in a big view is in critical levels and some of important indicators say that it will go up soon, idk when (maybe 1 or 2 days) but it will be soon.

I'm keeping my positions in GBP/CHF a related market and I go long to see if the next monday I can close the position for the reversal.
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  • #463,748
  • Aug 15, 2018 3:36pm Aug 15, 2018 3:36pm
Quoting alirelax
usd index (2018/08/03) sell att: 95.10/95.25 tp:94.30 sl:95.50 {image}

stop out
  • #463,749
  • Aug 15, 2018 6:51pm Aug 15, 2018 6:51pm
Quoting sponge
{quote} Semnmetry happens a lot, worth keeping in mind Target reached {image}

Symmetry does happens a heck of a lot of times but mostly finding the correct form is extremely difficult to predict ahead of time.

Look here at the pattern for yesterday.

BA is the swing from low to high and CD is parallel and of the same distance.

So the difference is the distance BD and that is where the price ends up in the range BD.
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  • #463,750
  • Aug 15, 2018 7:20pm Aug 15, 2018 7:20pm
So following this same logic is the longer term on the 1 hour chart going to match the pattern.

The problem is we don't know if C is the actual swing low or could there be another lower low.

We could try all sorts of patterns to make them fit after the fact BUT absolutely nothing beats the fact that we are trading below the average so should be looking to short the pullbacks until the situation changes. Nothing wrong with taking the more risky longs but we should also be aware of the limits of these trades and not expect more than they are willing to give.
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  • #463,751
  • Aug 15, 2018 10:00pm Aug 15, 2018 10:00pm
got a cheapest price to go up ..... and take profit ... how many pip GU go down right now ... i will keep buying up to take much profit ... sell is not safe in this place
  • #463,752
  • Aug 15, 2018 10:06pm Aug 15, 2018 10:06pm
please buy more. i can add short =p
  • #463,753
  • Aug 15, 2018 10:10pm Aug 15, 2018 10:10pm
Quoting Nala66
So following this same logic is the longer term on the 1 hour chart going to match the pattern. The problem is we don't know if C is the actual swing low or could there be another lower low. We could try all sorts of patterns to make them fit after the fact BUT absolutely nothing beats the fact that we are trading below the average so should be looking to short the pullbacks until the situation changes. Nothing wrong with taking the more risky longs but we should also be aware of the limits of these trades and not expect more than they are willing...
Nice interpretation of the charts, this is my problem too if the reversal coming is not enough to change the trend we have to wait more down trend at this point we can only keep close this market and check if it goes everything well.
  • #463,754
  • Aug 15, 2018 10:15pm Aug 15, 2018 10:15pm
Quoting Ksth
please buy more. i can add short =p
sure i will definitely go buy when price go much down form their range .... hope you will sell more at that place if price go down more i will add more more and more to pump up TP
  • #463,755
  • Aug 15, 2018 10:24pm Aug 15, 2018 10:24pm
Quoting FloatingCha
{quote} sure i will definitely go buy when price go much down form their range .... hope you will sell more at that place if price go down more i will add more more and more to pump up TP
good luck..
  • #463,756
  • Aug 15, 2018 11:05pm Aug 15, 2018 11:05pm
Next clear historical trading range entered.
Still bearish overall
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Come with me if you want to live....
  • #463,757
  • Aug 16, 2018 12:13am Aug 16, 2018 12:13am
Quoting Nala66
So following this same logic is the longer term on the 1 hour chart going to match the pattern. The problem is we don't know if C is the actual swing low or could there be another lower low. We could try all sorts of patterns to make them fit after the fact BUT absolutely nothing beats the fact that we are trading below the average so should be looking to short the pullbacks until the situation changes. Nothing wrong with taking the more risky longs but we should also be aware of the limits of these trades and not expect more than they are willing...

We just got above the average Nala! I think your symmetrical pattern is unfolding according to plan..nice!!
  • #463,758
  • Aug 16, 2018 12:24am Aug 16, 2018 12:24am
Quoting Ksth
{quote} good luck..
when you only can say good luck to me .... i made tp now in 50 pip profit = that's our different .... keep your good luck for you is better for me "luck" never win cheers ! stay green
  • #463,759
  • Aug 16, 2018 12:39am Aug 16, 2018 12:39am
Quoting kayikayi
{quote} We just got above the average Nala! I think your symmetrical pattern is unfolding according to plan..nice!!
I have a notebook of interesting patterns but the ones that tend to work out the best are the ones based upon symmetry. I don't trade them because a heck of a lot can go wrong as one pattern turns into another, however they are interesting.
  • #463,760
  • Aug 16, 2018 12:41am Aug 16, 2018 12:41am
Looks like the USD is weaker today across the board.
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