Cable Update (GBPUSD)

Took another short :

Entered 1.2837
Closed 1.2809
28 pips

then again
Entered 1.2800
And as Im typing, hitting TP on 1.2781
19 pips

Wow! ...what a great move...I thought I'd done well this London morning /early afternoon as the move started...- finished all flat and squared as usual but just came back to desk to see the rest/most of it lol !

Price has smashed downside of the asc dly/wkly/mthly t/line joining 1411 with 2252 and is in that prev dly/wkly sw hi (= prev res = pot rbs) zone at the lo. This extends to 2746 on the dly and deeper on the wkly to 2669. 50% of 2074-3482 at the current lo...more downside fibs below there - next = 2740, then 2722/16.

Price is now beyond Weekly S3 and Mthly S2 (Mthly S3 = circa 2683) 2776 is Dly S3.

Today so far 208% of 30 day adr travelled = 254 pips,! So far this week 182% of 134wk awr and so far this month 118% of 3mth amr. Price again reached the 76.4% downside extension of yesterday's pip range.

The downside breech of the asc t/line referred to above doesn't look as dramatic on the wkly chart below. Dly chart is below that.

Fundamentals - Technicals = Disaster

Quoting MarketPatrol

Disliked

Fundamentals - Technicals = Disaster

Ignored

I think, for most of us, it is a disaster anyway...

Quoting zizoo

Disliked

Get a load of yesterday's daily candle. A supposed reversal pinbar R.I.P price action bulls {image}

Ignored

Why I think NOT?

Look what happened to my BUYS today!

Buy is perfectly working for me, as you can witness it from the image below!

hope you all enjoyed the sell today

When something specific is driving price it certainly tends not to respect the technicals - like potential support [s] in a strong down move lol ! Bones pointed out the dangers of thinking y/day's daily pinbar type candle was the start of something bullish last London evening and I did agree with him - it is all about context.

its too early at 277... lol

I think Tigger Woods might be here at 1.279..

the trend is still bearish , but it's possible that a correction will come from here .
tide sl when a new hourly high is perform

what happened to holding your buy till it gets to 1.35???? you said the fall was completed already, this is how you make people loose money and you still keep posting crap, i will forever hunt you until you stop posting rubbish, anyone who listen to me yesterday and follow a sell would have made so much money like i did today. stop posting and go and learn how to trade.

Target met for 1.2880s breakout trade and Long executed 1.2775 with tight SL 1.2740 and further notice Tp starting 1 2980s up to 1.3110-40
Tight SL as personally can't find any real support below 1.2750 if am optimistic and actually 1.2770 but giving it some distance for fake breakout..
Any further fall from there is real free down to 1.2360s as no real major support in btw..even if to reach there takes sometime later..

now you have lost your account, if only you listened to me when i said brexit will crash cable you would have been thankful to me by now but sad you choose to follow your arrows that can't tell where market is heading, i hope you have learnt your lesson

You bring good luck.
Took 185 pips at the end of the day, not my biggest catch in terms of money, but in terms of one-day pips, yes.

where is mr JayBag and his buy from 1.29? i am sure he has lost his account that is why he refused to talk, how silly for people to think they know it all

Quoting MoneyZilla

Disliked

I don't know why they are not moving the rate to 1.2800, overnight? For me, living a life without any open trades would be much less complicated...

Ignored

That one aged well...

Interesting article on negative gamma

https://www.zerohedge.com/markets/co...eid=584c93d80a

... 20/50/100 ema's are all crossed down now 5min - 4hr....dly's remain crossed up but it's general PA uptrend is damaged by the lo below the last 3 x HL's of said uptrend on that t/f. Only on weekly is the general pa uptrend still intact and undamaged but it's the deepest and most precipitous / steepest pullback in the move up from 1411.

i'm buy now from 1.27849, sl 30 pips

question to Coreg2004 and shahab8b about EW

Here is my main plan with 5 waves: i was thinking that we won't get below 1.281 (wick of wave 1) and from there we start wave 5.

We are below 1.28. My quwstions are about overlaping waves:

- what if today's candel close above 1.275 and below 1.2815?
- do we take waves as overlaped only if body of candle form wave 4 gets into territory of body of candle from wave 1?
- is counting still correct as long as we don't get daily closure below 1.275? or is it wrong just now.