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Cable Update (GBPUSD)

  • #555,961
  • Oct 31, 2020 1:21pm Oct 31, 2020 1:21pm
Quoting cupidsux
gbp/Usd currently around 1.2865, should have room to drop further. so was wondering if I should massively short on Monday morning. what ya guys think?
If you expect it to drop 200 pips without retrace, then go ahead.

PS: There seems to be many Singaporeans? Not that I'm complaining, my mother is a Singaporean and I live there for about 4 months a year.
I will tear the world apart for you.
  • #555,962
  • Oct 31, 2020 1:23pm Oct 31, 2020 1:23pm
Quoting cupidsux
gbp/Usd currently around 1.2865, should have room to drop further. so was wondering if I should massively short on Monday morning. what ya guys think?
I would say best thing to wait for a pull back before entering short, market could easily open with 100-150 pips gap and recover 50-60 pips before continuing down or could not, if you are not in a short position, wait patiently for the best place to enter a short where your risk reward would make sense, that’s my view
  • #555,963
  • Oct 31, 2020 1:29pm Oct 31, 2020 1:29pm
Quoting cupidsux
gbp/Usd currently around 1.2865, should have room to drop further. so was wondering if I should massively short on Monday morning. what ya guys think?
Then that should have now hit my TP.
Do you think it will count?
Compulsions can be hard to resist
  • #555,964
  • Oct 31, 2020 1:52pm Oct 31, 2020 1:52pm
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  • #555,965
  • Oct 31, 2020 2:05pm Oct 31, 2020 2:05pm
Everyone is selling. Lol
Patience.....
  • #555,966
  • Oct 31, 2020 2:07pm Oct 31, 2020 2:07pm
Quoting Fredo219
Everyone is selling. Lol
I won't. Until everybody starts to buy.
Everyone can see the chart, but only a few can actually read it.
  • #555,967
  • Oct 31, 2020 2:11pm Oct 31, 2020 2:11pm
I’m sure there will be a retrace... will look for an entry Monday morning I think
Insane in the Brain..
  • #555,968
  • Oct 31, 2020 2:22pm Oct 31, 2020 2:22pm
Quoting Fredo219
Everyone is selling. Lol
Well I'm not surprised given the news.
There will be retraces for sure, but looking at the monthly, I don't think we will see any serious bull action until 1.26 area or even a bit lower
Compulsions can be hard to resist
  • #555,969
  • Oct 31, 2020 2:38pm Oct 31, 2020 2:38pm
Is that not a a retrace, inside Wave A there are 3 waves , inside wave B there is a 5 wave impulse which is normal for a wave B , inside wave C there is a 5 wave impulse to complete the ABC correction.

Inside wave 1 is a 5 wave impulse , inside wave 2 is an abc correction so a break of wave 2 would confirm the short add a touch of confirmed lockdown in England and its a possible short.


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Follow The Markets Structure - Patience and Discipline
  • #555,970
  • Oct 31, 2020 2:46pm Oct 31, 2020 2:46pm
Hey guys My D view If we sucefully break the 1.29200 i think we go down but still expecting some retarce to 1.29800 maybe
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  • #555,971
  • Oct 31, 2020 2:54pm Oct 31, 2020 2:54pm
Quoting pipfarm
Is that not a a retrace, inside Wave A there are 3 waves , inside wave B there is a 5 wave impulse which is normal for a wave B , inside wave C there is a 5 wave impulse to complete the ABC correction. Inside wave 1 is a 5 wave impulse , inside wave 2 is an abc correction so a break of wave 2 would confirm the short add a touch of confirmed lockdown in England and its a possible short. {image}
Are you going with the EW principle by Robert Prechter or someone else? because there is no such thing as wave 5 wave impulse as wave B.

I am gonna look at the EW by Glenn Neely as well. But I am including this one from R. Prechter book page 16.
Attached Image (click to enlarge)
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  • #555,972
  • Oct 31, 2020 3:03pm Oct 31, 2020 3:03pm
Quoting shahab8b
{quote} Are you going with the EW principle by Robert Prechter or someone else? because there is no such thing as wave 5 wave impulse as wave B. I am gonna look at the EW by Glenn Neely as well. But I am including this one from R. Prechter book page 16. {image}


B wave triple zigzag like a 5 wave impulse , either way the overall structure is abc corrective
Follow The Markets Structure - Patience and Discipline
  • #555,973
  • Oct 31, 2020 3:34pm Oct 31, 2020 3:34pm
Quoting pipfarm
{quote} B wave triple zigzag like a 5 wave impulse , either way the overall structure is abc corrective
A triple zigzag for that small B wave? did you use a microscope? haha! enjoy the rest of your weekend.
Attached Image (click to enlarge)
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  • #555,974
  • Oct 31, 2020 4:11pm Oct 31, 2020 4:11pm
Quoting OnlineAddict
{quote} How will Biden get control over covid? Look at the democrat run states...its a complete disaster there, from both covid and the rioting. Each state is managed by their elected officials, they don't have do what Trump says or wants, they just use him as an excuse when they mess something up.
I didn't say that he will, I said that he is more likely to over Trump. I don't think that any reasonable commentator disputes that. He at least acknowledges the science, isn't in denial, and has a plan to, which includes going over the heads of non-cooperating state governors to state legislatures and city/town mayors. Time will tell if it is successful - if he wins.
-------------------------------

Monday may well be a 'sell the rally' type of day re the 2nd Uk lockdown announced today. We'll see what develops.
Trader with an Edge.
  • #555,975
  • Oct 31, 2020 4:12pm Oct 31, 2020 4:12pm
Quoting pipfarm
{quote} B wave triple zigzag like a 5 wave impulse , either way the overall structure is abc corrective
Put the count for wave B.
  • #555,976
  • Oct 31, 2020 4:19pm Oct 31, 2020 4:19pm
Quoting Headland
{quote} I didn't say that he will, I said that he is more likely to over Trump. I don't think that any reasonable commentator disputes that. He at least acknowledges the science, isn't in denial, and has a plan to, which includes going over the heads of non-cooperating state governors to state legislatures and city/town mayors. Time will tell if it is successful - if he wins. ------------------------------- Monday may well be a 'sell the rally' type of day re the 2nd Uk lockdown announced today. We'll see what develops.
I don't think Biden even knows what he runs for or what year it is, let alone anything else. Kamala would be the president, which few months ago was unthinkable, since she has zero support from the voters.
Everyone can see the chart, but only a few can actually read it.
  • #555,977
  • Oct 31, 2020 4:41pm Oct 31, 2020 4:41pm
Quoting OnlineAddict
{quote} I don't think Biden even knows what he runs for or what year it is, let alone anything else. Kamala would be the president, which few months ago was unthinkable, since she has zero support from the voters.
He will make his 4 years which is all its about. But the reality is there. The guy you think doesn't even know he is alive with the VP candidate you think is unthinkable is going to win this election.

Outside of the 35 to 40% of voters who want an authoritarian to push their conservative views down everyone's throats, Trump has even less support than Harris.

You will finally see it all on Tuesday.
  • #555,978
  • Oct 31, 2020 7:12pm Oct 31, 2020 7:12pm
Quoting enarco
{quote} You will finally see it all on Tuesday.
If Biden wins the stock market will crash and the dollar will skyrocket. Then we should see GBPUSD down to 1.24 and below fast.
  • #555,979
  • Oct 31, 2020 7:14pm Oct 31, 2020 7:14pm
Quoting de5151
{quote} If Biden wins the stock market will crash and the dollar will skyrocket. Then we should see GBPUSD down to 1.24 and below fast.
The challenge will be the delayed vote count. But if all goes well and one is on the right side. As each state is declared over a 24 to 48 hour period it should steam roll. Hopefully.
  • #555,980
  • Oct 31, 2020 8:04pm Oct 31, 2020 8:04pm
Buy nextweek 1st monday before drop..
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