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Cable Update (GBPUSD)

  • #557,261
  • Nov 5, 2020 9:48am Nov 5, 2020 9:48am
Quoting TerpFan2
{quote} I "See" or -Got your 1.3040 Gespri... You're right, she's "Stubborn" at the 23.6 right here, Because of Normal End of WAVE-3 Retracement area, and Strong Dow, etc... So Good Call- a 23.6, to 38.2. {image} She Tank's Harder it put's us in-line w/the Daily & Weekly Charts.
I don't think this is over yet (I might be wrong).....we have another 2 hrs 'til close.
W-B started at 1.2926 for me. If I take the length of W-A (286p) and apply to a possible W-C, then it will be around 1.3180 - 1.32.
We'll wait and see on this one. It is currently sideways.
Lost....
  • #557,262
  • Nov 5, 2020 9:50am Nov 5, 2020 9:50am
Quoting Coreg2004
{quote} gespiri, I fricken hate shallow potential 4th... {image}
That 1.3043 threw me off as the end of W-1 (C).
Maybe we hit the end of W4 at 1.3065. We'll see.
Lost....
  • #557,263
  • Nov 5, 2020 9:51am Nov 5, 2020 9:51am
Gold's trend RETURNS!

That is it!

Whatever that might mean for the Cable?!?
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Maadik Hugiis. IQ 69.
  • #557,264
  • Nov 5, 2020 9:51am Nov 5, 2020 9:51am
Quoting Barnell
{quote} Probably crazy buying ahead of FOMC.
almost 500pips buy in a day isn't normal it could get to 1000pips or more
  • #557,265
  • Nov 5, 2020 9:53am Nov 5, 2020 9:53am
Quoting epzero
{quote} almost 500pips buy in a day isn't normal it could get to 1000pips or more
I don't know, I suffered a 3k loss in gold today, lol.
I will tear the world apart for you.
  • #557,266
  • Nov 5, 2020 9:54am Nov 5, 2020 9:54am
Quoting Wavegarrick
{quote} Hi Guys, So far so good. My cyclic buy trades since yesterday playing out nicely. Have a great day, Cheers. {image}
Just opened a buy trade at 1.30736 hoping for an impulse trade towards my monthly res 1 at 1.31418,

Cheers
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Trade to trade another day
  • #557,267
  • Nov 5, 2020 9:55am Nov 5, 2020 9:55am
...support in that prev 5min 3074-54 congestion zone there....current 3109 dly hi - now a fractal prev sw hi zone on 1hr - awaits before that zone to 3140 and 1hr part of that prev 1hr/4hr sw hi zone starts circa 3123. Dly R1 3111.
Trader with an Edge.
  • #557,268
  • Nov 5, 2020 9:57am Nov 5, 2020 9:57am
Quoting EXpRINCE
{quote} that 15min triple top or bottom must allign with 4hr triple top or bottom sir or mam. its not that quickly easy like you make it. if this is confusing you just eliminate everything focus on the 4hr double or triple bottom or top. ITS ALWAYS WISE TO FOLLOW THE 4HR TRIPLE TOP OR BOTTOM.
I would Whole-Heartedly Agree, to 'Double- if not TRIPPLE-Top, on a 4hr, etc...
Picking off End of Wave, for Three or "C" here, fine though. Again, Usual, end of Wave is 23.6 to 38.2.
She's Stubborn & Want's "North", i'll agree; -AND to your Point, in Reverse, 'She Break's the 1.3608 Level,
Then she's onward for a Wave-5 in this Wave-Set. -Just my opinion.
I will work to Objectively Identify my Edges
  • #557,269
  • Nov 5, 2020 9:59am Nov 5, 2020 9:59am
Quoting gespiri
{quote} That 1.3043 threw me off as the end of W-1 (C). Maybe we hit the end of W4 at 1.3065. We'll see.
Or maybe we're still in the middle of W-3 (C)......
Lost....
  • #557,270
  • Nov 5, 2020 10:03am Nov 5, 2020 10:03am
Would be hella funny if FOMC brings this to 1.3000 again..
I will tear the world apart for you.
  • #557,271
  • Nov 5, 2020 10:04am Nov 5, 2020 10:04am
3110->2900
Everyone can see the chart, but only a few can actually read it.
  • #557,272
  • Nov 5, 2020 10:04am Nov 5, 2020 10:04am
The dip on the hour is the smaller impulse within the larger one so we are still in the wave 3 of the larger 4 hour wave so effectively wave 3 of 3 of 3 hence you will see price smash its way up to an even bigger move than the last one
Follow The Markets Structure - Patience and Discipline
  • #557,273
  • Nov 5, 2020 10:06am Nov 5, 2020 10:06am
Quoting Coreg2004
{quote} gespiri, I fricken hate shallow potential 4th... {image}
Your 4th breaches the tip of W1.....rule violation?
Lost....
  • #557,274
  • Nov 5, 2020 10:09am Nov 5, 2020 10:09am
..couple of 4hr desc t/lines in the prev sw hi zone to 3140. Prev Swing Hi's 3482 joins 3140, and 3176 joins 3140. 4hr below. The 2 dash dot dot red lines above current price are the Mthly R1 and Wkly R2 in that order. Not shown is the 61.8% of 3482-2675 move which is @ 3173.
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Trader with an Edge.
  • #557,275
  • Nov 5, 2020 10:10am Nov 5, 2020 10:10am
Quoting EXpRINCE
{quote} co-relation is sooo sooo important. it increases your strike or win rate.You will never get disappointed on that 1. i use it everyday,whether i am swinging or day trading. But the trick is figuring how to group currency pairs,which currency pairs to group together. (The traditional/standard or common advised traditional currency pair corelation,is a jokeand doesnt work most times).
how u use co-relation for gbuusd?
  • #557,276
  • Nov 5, 2020 10:12am Nov 5, 2020 10:12am
Quoting IPMan
{quote} Well how do I say this, ignoring him is the best way to read this forum. Edit: Still holding these. {image}
Dont you just wish you were this lad?
You can do it!
  • #557,277
  • Nov 5, 2020 10:23am Nov 5, 2020 10:23am
I think Cable wanna go diving but USD is just too damn weak at the moment.
I will tear the world apart for you.
  • #557,278
  • Nov 5, 2020 10:25am Nov 5, 2020 10:25am
Attached Image (click to enlarge)
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So I'm seeing a range of 13122-12978 on the 4H
Insane in the Brain..
  • #557,279
  • Nov 5, 2020 10:26am Nov 5, 2020 10:26am
Quoting BeeTogether
{image} So I'm seeing a range of 13122-12978 on the 4H
I see that too but I am paying no heed..this move, quite simply, is abnormal.
I will tear the world apart for you.
  • #557,280
  • Nov 5, 2020 10:28am Nov 5, 2020 10:28am
Quoting Barnell
I think Cable wanna go diving but USD is just too damn weak at the moment.
Of course, there is a reason for that and this is why currency pairs move up and down in cycles. short cycle, medium term and long term cycle.
Cheers
Trade to trade another day
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