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Cable Update (GBPUSD)

  • #553,481
  • Oct 15, 2020 9:54pm Oct 15, 2020 9:54pm
Probably this channel is in charge now?

If she is driven more down by 3 Nov, there is a beautiful space left for a colossal spike up?
Attached Image (click to enlarge)
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Maadik Hugiis. IQ 69.
  • #553,482
  • Oct 15, 2020 10:09pm Oct 15, 2020 10:09pm
Quoting Bones
{quote} right you prefer it to go to 13180 ? that is a place of interest to me
Bones, I don't have preferences in choosing the zone or level as my potential reversal point, I just try to follow the chart...but first let's put the ground rules in place;
1) Which swing do we analyze?
2) What TF we use for our setups?
Using a daily or 4H chart it's perfectly fine to sell at point (c), we have minimum conditions met (50% ret, timing (16 days down and 13 days up) and pattern (abc)) also it's nothing wrong to wait for so-called big correction @61.8% Fibonacci level but the trade might be missed...
What is the objective?- A: T#1, T#2 or T#3
Stop loss...above (c)
How do we know when the move is over? we need to analyze the CD leg which should have 12345 pattern in place before we close the short trade or trade only W_3 and W_5 ...all should be in the trader's plan.
Some other decisions should be made... do I use the trailing stop if yes ...how?
Attached Image (click to enlarge)
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...but if we broaden the picture our analysis can and will be influenced by earlier swings...which is IMO waste of time because there will be too many possibilities to consider.
Always trade your own plan...I don't provide trading signals.
  • #553,483
  • Oct 15, 2020 10:26pm Oct 15, 2020 10:26pm
It took 7-8 months for the all important sell bounce line to get out of the business.
Probably same will repeat with the current buy bounce line?
Maybe 2 more months of ruling all out do remain?
Attached Image (click to enlarge)
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Maadik Hugiis. IQ 69.
  • #553,484
  • Oct 15, 2020 10:44pm Oct 15, 2020 10:44pm
  • #553,485
  • Oct 15, 2020 10:45pm Oct 15, 2020 10:45pm
Quoting Georginson
{quote} September closing price above 1.2900 has invalidated my bias of 1.2570 area. I do not have firm believe in the downward momentum anymore as September gave almost 250 pips retracement from Low. Please do not follow my bearish bias post as I'm now neutral for the short term but my medium term view is still focused on 1.3270 area in weeks ahead and 1.36 area in months ahead. The key lesson in my 13 years trading experience is to avoid overly Strong bias and stay in tune with what the market is trying to hide or tell you. Please trade with utmost...
Dumping bearish bias not an incorrect decision as price did a run to 1.3082 area.

The clean break of 1.3006 area now adds to bullish credence as far as 1.2819 remains unbroken, price seem set to attack 1.3270 area in the medium term.

Buying at 1.28 area for a swing target of 1.32 area is recommended between now till Mid November...

Ensure to use good money management and stay patient.
Data + Stat + Risk/Emotions Management
  • #553,486
  • Oct 15, 2020 10:48pm Oct 15, 2020 10:48pm
Your decision is very important now,. Small range but sign is in there ( find out ) up or deep down have a nice weekend
  • #553,487
  • Oct 15, 2020 10:53pm Oct 15, 2020 10:53pm
Quoting MoneyZilla
It took 7-8 months for the all important sell bounce line to get out of the business. Probably same will repeat with the current buy bounce line? Maybe 2 more months of ruling all out do remain? {image}
Nice chart ..
  • #553,488
  • Oct 15, 2020 10:56pm Oct 15, 2020 10:56pm
Quoting Coreg2004
{quote} Bones, I don't have preferences in choosing the zone or level as my potential reversal point, I just try to follow the chart...but first let's put the ground rules in place; 1) Which swing do we analyze? 2) What TF we use for our setups? Using a daily or 4H chart it's perfectly fine to sell at point (c), we have minimum conditions met (50% ret, timing (16 days down and 13 days up) and pattern (abc)) also it's nothing wrong to wait for so-called big correction @61.8% Fibonacci level but the trade might be missed... What is the objective?-...
Hi Coreg,
I do not trade your system, but your words are very insightful even for use for other systems, and I give you my thanks as it also serves as a reminder for myself.
I especially like the phrases:
- Which swing do we analyze?
- What TF we use for our setups?
- How do we know when the move is over?
  • #553,489
  • Oct 15, 2020 10:59pm Oct 15, 2020 10:59pm
Quoting OnlineAddict
{quote} Huh? Is it friday already?
Yoooo

When 1.45
Attached Image
Beware of robber banks (RB), bad advisors.
  • #553,490
  • Oct 15, 2020 11:00pm Oct 15, 2020 11:00pm
Quoting Moty
I bought new hourly high {image}
So you bought 1.3025

How's it going


Quoting Not-KPMG
{quote} Bones Respect. But they'll spike this line 1.2970-90 and .

Ooops Soooo??

Sell higher. Above 1.3020

..
And I did. . Twice

Sue me
Beware of robber banks (RB), bad advisors.
  • #553,491
  • Oct 15, 2020 11:04pm Oct 15, 2020 11:04pm
Quoting Almo2312
{quote} Hi.. . All i can say that ...you can fuck .
That's what your mom said
Beware of robber banks (RB), bad advisors.
  • #553,492
  • Oct 15, 2020 11:10pm Oct 15, 2020 11:10pm
No clearly yet, I took short, price is below TL and on channel range.
Will switch to long if price move to upward
Attached Image (click to enlarge)
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  • #553,493
  • Oct 15, 2020 11:15pm Oct 15, 2020 11:15pm
Quoting SCopier
No clearly yet, I took short, price is below TL and on channel range. Will switch to long if price move to upward {image}
Here is another view

Third touch of an uptrend line on H4
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  • #553,494
  • Oct 15, 2020 11:20pm Oct 15, 2020 11:20pm
Quoting pipcenturion
{quote} Here is another view Third touch of an uptrend line on H4 {image}
Yup, I was agreed still 50:50. Price can move up/down from here so just dont forget SL
  • #553,495
  • Oct 15, 2020 11:32pm Oct 15, 2020 11:32pm
Quoting MasterKol
{quote} From what I see, we got rejected on H4; it's southwards now. Just my opinion.
Patience man It'll be maybe up AGAIN on Bozo lies .

1.2980-3000-20 maybe....

Always sell higher, wait, sell.
Beware of robber banks (RB), bad advisors.
  • #553,496
  • Oct 15, 2020 11:38pm Oct 15, 2020 11:38pm
The reason bilbos here hate me, no worries is because I'm successful and have brain.

It's typical jealousy reaction and I'm OK with that.
Sorry ... NOT

But I don't get recognised... So I won't post signals.
Sue me


IF there's some wider recognition and praise etc, I'll post my Demo TE..... ..... All right???


Don't even dream to see my real
Beware of robber banks (RB), bad advisors.
  • #553,497
  • Oct 15, 2020 11:42pm Oct 15, 2020 11:42pm
retest market...
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  • #553,498
  • Oct 15, 2020 11:47pm Oct 15, 2020 11:47pm
USDX Look like will going upward too
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  • #553,499
  • Oct 15, 2020 11:54pm Oct 15, 2020 11:54pm
Quoting Coreg2004
{quote} Bones, I don't have preferences in choosing the zone or level as my potential reversal point, I just try to follow the chart...but first let's put the ground rules in place; 1) Which swing do we analyze? 2) What TF we use for our setups? Using a daily or 4H chart it's perfectly fine to sell at point (c), we have minimum conditions met (50% ret, timing (16 days down and 13 days up) and pattern (abc)) also it's nothing wrong to wait for so-called big correction @61.8% Fibonacci level but the trade might be missed... What is the objective?-...
thanks Coreg thats also what I thought ab=cd ,thats the one pattern I've ever picked up on my own lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #553,500
  • Oct 16, 2020 12:02am Oct 16, 2020 12:02am
Quoting Coreg2004
{quote} Bones, I don't have preferences in choosing the zone or level as my potential reversal point, I just try to follow the chart...but first let's put the ground rules in place; 1) Which swing do we analyze? 2) What TF we use for our setups? Using a daily or 4H chart it's perfectly fine to sell at point (c), we have minimum conditions met (50% ret, timing (16 days down and 13 days up) and pattern (abc)) also it's nothing wrong to wait for so-called big correction @61.8% Fibonacci level but the trade might be missed... What is the objective?-...
that 2 day hang man has the power to take you there, see how it confirms ,also thanks for detail on approach
On-site guru & also FF member's' psychiatrist, when not drinking tea
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