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Cable Update (GBPUSD)

  • #553,461
  • Oct 15, 2020 2:19pm Oct 15, 2020 2:19pm
the weekly is winking with both eyes ,daily is nodding
the question we have is what bearish form will that weekly be ,could be consolidation until next d1
Attached Image (click to enlarge)
Click to Enlarge Name: 14 GBPUSD-4-hours.png Size: 43 KB
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  • #553,462
  • Oct 15, 2020 2:55pm Oct 15, 2020 2:55pm
Quoting Coreg2004
{quote} Arief, if you trade based on EW please check this link during your break time...http://forex-indicators.net/cycle-in...ott-waves/plan and look at this scheme... {image}
It's very easy to be drawn into arguments the more you post ,I know one thing, I wouldn't mess with nasty Coreg once rattled
Would you mind updating you're larger view my most favourite wave mentor.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #553,463
  • Edited 3:16pm Oct 15, 2020 3:06pm | Edited 3:16pm
The weekly would be in aligning to the monthly ,my bullish brothers are looking at that big bullish candle ,ignoring the current engulf.
But my question to that is, what about the other one that failed ? looks like a pattern...
Double bottom can take time and theres too much problem at that point it failed to go up beyond anytime soon,
really we want to take tradable direction off this chart and find alignment from it.

don't keep buying it as it falls as theres too much doubt you be right
Attached Image (click to enlarge)
Click to Enlarge Name: 14 GBPUSD-Monthly.png Size: 49 KB
Attached Image
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  • #553,464
  • Oct 15, 2020 4:12pm Oct 15, 2020 4:12pm
Not looking good for long positions
Insane in the Brain..
  • #553,465
  • Oct 15, 2020 4:45pm Oct 15, 2020 4:45pm
Quoting Bones
{quote} It's very easy to be drawn into arguments the more you post ,I know one thing, I wouldn't mess with nasty Coreg once rattled Would you mind updating you're larger view my most favourite wave mentor.
Bones, yeah, sometimes I take off my velvet gloves...short term 30M chart; a bearish bat pattern in play from yesterday so nothing new, ...GU is in the range of 200 pips for several days and difficult to trade on higher TF's. Brexit saga prevents traders from the commitment, that's what I think but fortunately, it's not my headache.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 10.16.30M.png Size: 127 KB
Always trade your own plan...I don't provide trading signals.
  • #553,466
  • Oct 15, 2020 5:33pm Oct 15, 2020 5:33pm
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Together we can be strongest
Vantage Return This Month: na
  • #553,467
  • Oct 15, 2020 5:48pm Oct 15, 2020 5:48pm
Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 25 KB
Together we can be strongest
Vantage Return This Month: na
  • #553,468
  • Oct 15, 2020 5:58pm Oct 15, 2020 5:58pm
Quoting Coreg2004
{quote} Bones, yeah, sometimes I take off my velvet gloves...short term 30M chart; a bearish bat pattern in play from yesterday so nothing new, ...GU is in the range of 200 pips for several days and difficult to trade on higher TF's. Brexit saga prevents traders from the commitment, that's what I think but fortunately, it's not my headache. {image}
right I wondered why no higher tf charts ,would you not be happy with wave 1 + 2 in place d1? your talent is wasted on low tf but I understand in the current conditions.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #553,469
  • Oct 15, 2020 6:23pm Oct 15, 2020 6:23pm
Attached Image (click to enlarge)
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We will see drop first touch the trendline and up back to retest 1.3000...probably on hope a deal for next week
Bismillah
  • #553,470
  • Oct 15, 2020 6:41pm Oct 15, 2020 6:41pm
Quoting Bones
{quote} right I wondered why no higher tf charts ,would you not be happy with wave 1 + 2 in place d1? your talent is wasted on low tf but I understand in the current conditions.
Bones, maybe in the future this scenario will play out but right now the structure of the market doesn't support it...or something is beyond my comprehension...
Post the questions, I'll be back in 2 hours...
Attached Image (click to enlarge)
Click to Enlarge Name: GU 10.16.daily.png Size: 116 KB
Always trade your own plan...I don't provide trading signals.
  • #553,471
  • Oct 15, 2020 6:49pm Oct 15, 2020 6:49pm
Quoting trumps
It certainly is caught isn't it {image}
Today is important I would think for weekly bias into next week.
Will it close below support or head back towards resistance?
Compulsions can be hard to resist
  • #553,472
  • Oct 15, 2020 6:52pm Oct 15, 2020 6:52pm
Quoting Bones
{quote} right I wondered why no higher tf charts ,would you not be happy with wave 1 + 2 in place d1? your talent is wasted on low tf but I understand in the current conditions.
May be this might be useful!
Attached Image (click to enlarge)
Click to Enlarge Name: GU LT View.png Size: 56 KB
  • #553,473
  • Oct 15, 2020 6:53pm Oct 15, 2020 6:53pm
Quoting Coreg2004
{quote} Bones, maybe in the future this scenario will play out but right now the structure of the market doesn't support it...or something is beyond my comprehension... Post the questions, I'll be back in 2 hours... {image}
right you prefer it to go to 13180 ? that is a place of interest to me
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  • #553,474
  • Oct 15, 2020 6:58pm Oct 15, 2020 6:58pm
Quoting Fadhl
{quote} May be this might be useful! {image}
is it Elliott ?can you explain it
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  • #553,475
  • Oct 15, 2020 7:00pm Oct 15, 2020 7:00pm
Quoting greengp
small short sl 1.30391
this small shorts is still running and started to build up new shorts all through yesterday and now i closed all the major shorts except the small one with sl of 1.30391
  • #553,476
  • Edited 7:45pm Oct 15, 2020 7:08pm | Edited 7:45pm
it looks a lot like that pattern I said was bearish before that turned bullish ,but I doubt it as bullish
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 18 GBPUSD-Daily.png Size: 49 KB
Click to Enlarge Name: Screenshot 2020-10-15 at 20.39.59.png Size: 73 KB
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  • #553,477
  • Oct 15, 2020 7:13pm Oct 15, 2020 7:13pm
Quoting greengp
{quote} this small shorts is still running and started to build up new shorts all through yesterday and now i closed all the major shorts except the small one with sl of 1.30391
my expectation is 1.28523
  • #553,478
  • Oct 15, 2020 7:19pm Oct 15, 2020 7:19pm
Quoting Bones
{quote} is it Elliott ?can you explain it
Sorry I looked at it again. Wave 5.1 is not completed yet.
It should be like that:
Attached Image (click to enlarge)
Click to Enlarge Name: GU LT View.png Size: 54 KB

It's a modified EW. Mainly a wave is confirmed when we have HH or LL at close (be aware not an extension). The blue horizontal lines determine when a wave is in play and confirms the previous wave. The wave extends until there is a confirmation. Currently wave 5.1 is not completed because we don't have a valid break of wave 4W. The last horizontal blue line is where wave 5.1 should be completed.
Hope it's clear. If not, I'll try again.
  • #553,479
  • Oct 15, 2020 7:33pm Oct 15, 2020 7:33pm
Quoting Fadhl
{quote} Sorry I looked at it again. Wave 5.1 is not completed yet. It should be like that: {image} It's a modified EW. Mainly a wave is confirmed when we have HH or LL at close (be aware not an extension). The blue horizontal lines determine when a wave is in play and confirms the previous wave. The wave extends until there is a confirmation. Currently wave 5.1 is not completed because we don't have a valid break of wave 4W. The last horizontal blue line is where wave 5.1 should be completed. Hope it's clear. If not, I'll try again.
yea I think I know what you mean I can only say looks right to me can go there easy
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  • #553,480
  • Oct 15, 2020 9:40pm Oct 15, 2020 9:40pm
Pound would continue to drop no question about that.
At Home Run Estates, I smash bugs.
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