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Cable Update (GBPUSD)

  • #484,161
  • Jul 10, 2019 11:18am Jul 10, 2019 11:18am
Or could it be a retest of the past swing stalling out at 78.6??? This is why I want to see a higher low on the 4 hour then broken but like I say I guess it depends on what timeframe you trade.
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  • #484,162
  • Jul 10, 2019 11:19am Jul 10, 2019 11:19am
Quoting Neil0163
Or could it be a retest of the past swing stalling out at 78.6??? This is why I want to see a higher low on the 4 hour then broken but like I say I guess it depends on what timeframe you trade. {image}
Do you not have a Higher Low on your chart Neil?
  • #484,163
  • Jul 10, 2019 11:19am Jul 10, 2019 11:19am
Quoting Marcieny
{quote} which pattern?
I'm not all that sure on my harmonics I use the fibs in a different way, I just like to see specific price action. Then use the fibs for entry's and take profits.
  • #484,164
  • Jul 10, 2019 11:21am Jul 10, 2019 11:21am
Quoting directxxx
{quote} Do you not have a Higher Low on your chart Neil?
I can see where your looking buddy but for me it's not significant enough if this moves drops down then creates that HL that's what I'll be after. Some people will even pass that off as a "W" pattern
If it pulls back to where the 38.2 is in that chart and makes a higher low there I'll be bullish and I'll wait for a counter trendline break from that new weak move down if that makes sense
  • #484,165
  • Jul 10, 2019 11:21am Jul 10, 2019 11:21am
Quoting directxxx
{quote} Do you not have a Higher Low on your chart Neil?

I tend to focus on the swing HH & HL rather than the bar HH & HL. Except for daily.
  • #484,166
  • Jul 10, 2019 11:22am Jul 10, 2019 11:22am
long in at 1.2510
Don't trade what you think. Just what you see!!!
  • #484,167
  • Jul 10, 2019 11:25am Jul 10, 2019 11:25am
Quoting Marcieny
{quote} Theoak what timeframe do you operate?
multiple
Doing fib stuff today. made money, but I think it might be luck!!!!!!
Don't trade what you think. Just what you see!!!
  • #484,168
  • Jul 10, 2019 11:26am Jul 10, 2019 11:26am
Quoting mbrown
{quote} I tend to focus on the swing HH & HL rather than the bar HH & HL.
Looks like a fractal low to me. Particularly as I said on a 1H chart. A Daily chart has a series of HH and HL's so do we need to wait for some kind of esoteric chart pattern to see that the low is in?
  • #484,169
  • Jul 10, 2019 11:28am Jul 10, 2019 11:28am
Quoting Theoak
{quote} I'm no expert in Fibs. Just kind of using it live if you like, because at the moment I can't see the edge. The problem I have - is it going to bounce off or go through!! I'll keep trying!!
  • #484,170
  • Jul 10, 2019 11:29am Jul 10, 2019 11:29am
Quoting directxxx
{quote} Looks like a fractal low to me. Particularly as I said on a 1H chart. A Daily chart has a series of HH and HL's so do we need to wait for some kind of esoteric chart pattern to see that the low is in?

PSML! Nothing like that mate. I was just throwing my comment in to find out more about your approach.
  • #484,171
  • Jul 10, 2019 11:30am Jul 10, 2019 11:30am
the price closed above the fibonacci fann he will get the next, so maybe will not come back.
  • #484,172
  • Jul 10, 2019 11:33am Jul 10, 2019 11:33am
Quoting Neil0163
Still no reason to be long until I see a HL made then broken. {image}
Neil0163, for us Ellittisions, when the market overcomes the biggest ret in price and/or time from W:4 to W:5 we consider W:5 in place. The confirmation comes when the market will trade above 1.2540...Yes, I also pay attention to 1-2-3 reversal method thought by Victor Sperandeo in his book "Trader Vic-Methods of a wall street masters"...Neil, I believe we trade the same way, the only difference in our charts is that I label the swings ABC or 12345 and you HH-HL, LH-LL...You have a sound method of trading. I pay attention to your charts. Good luck with your trading.
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Always trade your own plan...I don't provide trading signals.
  • #484,173
  • Jul 10, 2019 11:34am Jul 10, 2019 11:34am
I see an M in the diary.
  • #484,174
  • Jul 10, 2019 11:38am Jul 10, 2019 11:38am
Quoting Theoak
long in at 1.2510
+ 2 pip highs hit
Don't trade what you think. Just what you see!!!
  • #484,175
  • Jul 10, 2019 11:39am Jul 10, 2019 11:39am
Quoting Moty
{quote} I am not kidding. gave2 banks gave my my a loan of 70000 dollars with no insurance lol . Their problam.

Maybe your country is very lenient about such things. In which case it won't impact your future too much.

  1. Israel

  • #484,176
  • Jul 10, 2019 11:42am Jul 10, 2019 11:42am
Quoting mbrown
{quote} PSML! Nothing like that mate. I was just throwing my comment in to find out more about your approach.
No worries mate. I showed most of it to you last year when we talked by Skype. Maybe you have forgotten. Have a look at the daily chart. As you can see, the low was in a long time back... September 2016, The retracement is all but complete if you see a demand area. There is one other (less likely demand area below where we are now but we are reacting to this one so we should get a decent bounce here. If we get a daily reversal from here then the first target will be circa 1.3570 then if we move on as expected a much longer target will be 1.47ish.

Edit. Price tells me EVERYTHING I need to know. Elliott wave is a subset of Gann which was a subset of Fibonacci so I stick with Fibs. Have been an exponent of fibs for more than 15 years
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  • #484,177
  • Jul 10, 2019 11:46am Jul 10, 2019 11:46am
So here's something for a little interest.
Notice we have the first swing in red bounces off a 61.8 fib retracment from there we plot a fib extension and notice where price bounces right near the 1.618extension. We see the blue swing we get a symmetrical triangle just slightly below 23.6 fin retracment from there we plot the fib extension notice how we get the bounce on the 1.618 perfectly.
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  • #484,178
  • Jul 10, 2019 11:47am Jul 10, 2019 11:47am
Quoting Marcieny
I see an M in the diary.
Just a reminder to ring your mum (mae) Don't worry about it.
  • #484,179
  • Jul 10, 2019 11:47am Jul 10, 2019 11:47am
pa usdx now !range down likely & so others range up!lets see
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #484,180
  • Jul 10, 2019 11:53am Jul 10, 2019 11:53am
short 1.2505 target 1.2498
Don't trade what you think. Just what you see!!!
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