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Cable Update (GBPUSD)

  • #558,421
  • Nov 11, 2020 7:37am Nov 11, 2020 7:37am
Quoting pipcenturion
{quote} I went short according to my plan. I will be watching for activity from bulls to decide what I will do with the current trade. {image}
i have feeling we wont be going too much down today as i see usd holiday on calender... but if the daily ends red... pretty much sure in next couple of days we get there
Extreme gut feeling trader
  • #558,422
  • Nov 11, 2020 7:37am Nov 11, 2020 7:37am
Quoting Moty
{quote} 50 EMA MTF {image}
dont worry, it will be ok.
but take profit sometimes.. you can always re-enter.. market is here.. the days are not.. dont waste time.
"better a poor horse than no horse at all" or you want it in the hebrew way?
  • #558,423
  • Edited 7:57am Nov 11, 2020 7:43am | Edited 7:57am
...5min 20/50/100 ema's now crossed down, 15min neutral with 30min-dly still crossed up.

This is still currently only a pullback in 1hr/4hr general fractal uptrend. 98 pips range today so far - 78% of 30 day adr. 4hr below.
Attached Image
Trader with an Edge.
  • #558,424
  • Edited 8:06am Nov 11, 2020 7:45am | Edited 8:06am
Quoting Coreg2004
... {image} {image}

If we are at the end of wave 5 should the next structure be 12345 abc 12345?

If we are at the end of wave 3 then should the next structure be just abc? (this could be any pattern sideways, or sharp 3-3-5 or 5-3-5 but of smaller degree)?

Imho my chart says end of wave 5

What do you think?
Follow The Markets Structure - Patience and Discipline
  • #558,425
  • Nov 11, 2020 8:00am Nov 11, 2020 8:00am
I wonder if anyone has noticed at what level we currently are...?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 99 KB

50% Fib from the Brexit vote high to reaction to Art 50 being approved by MPs.
WT
  • #558,426
  • Edited 8:13am Nov 11, 2020 8:03am | Edited 8:13am
Quoting Headland
G/M, that oft mentioned prev 4hr sw hi zone to 3293 with 76.4% 3482-2675 providing the current resistance at the current dly hi. Above here a similar prev minor 4hr sw hi zone 3312-19 with dly R1 @ 3314..... {image}
I mentioned before where the current daily hi encountered supply re the 4hr t/f...the dly chart below shows what it looked like on the daily t/f.....the underside of the prev asc t/line (dash dash,) and that 76.4%/78.6% fib of the 3482-2675 move. There was at the current dly hi a so far unconvincing upside break of that dly equidistant channel (dash dot)
Attached Image (click to enlarge)
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Trader with an Edge.
  • #558,427
  • Nov 11, 2020 8:04am Nov 11, 2020 8:04am
Gold dropping nicely as i posted yesterday but still some way to go currently at 1857 from from1874

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDDaily.png Size: 34 KB
Follow The Markets Structure - Patience and Discipline
  • #558,428
  • Nov 11, 2020 8:07am Nov 11, 2020 8:07am
1hr upside obstacles as below...
Attached Image (click to enlarge)
Click to Enlarge Name: 852597d963cff8b5d9186a47413e87ad.png Size: 26 KB
Trader with an Edge.
  • #558,429
  • Nov 11, 2020 8:07am Nov 11, 2020 8:07am
GOLD is DROPDROPDROP. really want to buy it
  • #558,430
  • Nov 11, 2020 8:07am Nov 11, 2020 8:07am
Loaded again at 250. Target 190
  • #558,431
  • Nov 11, 2020 8:08am Nov 11, 2020 8:08am
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 39 KB
yes yes yes
  • #558,432
  • Nov 11, 2020 8:12am Nov 11, 2020 8:12am
Today no GU trades. It accumulating gambler's stops )))
Will wait till tomorrow, it will be a nice run.
Observer effect
  • #558,433
  • Nov 11, 2020 8:17am Nov 11, 2020 8:17am
Quoting pipfarm
{quote} If we are at the end of wave 5 should the next structure be 12345 abc 12345? If we are at the end of wave 3 then should the next structure be just abc? (this could be any pattern sideways, or sharp 3-3-5 or 5-3-5 but of smaller degree)? Imho my chart says end of wave 5 What do you think?
pipfarm...choose your option...
Attached Image (click to enlarge)
Click to Enlarge Name: Corrpatterns - Copy.PNG Size: 84 KB
Always trade your own plan...I don't provide trading signals.
  • #558,434
  • Nov 11, 2020 8:20am Nov 11, 2020 8:20am
Quoting gatenio
GOLD is DROPDROPDROP. really want to buy it
Is sitting on 4 month support. 1850 very good price. daily is going in bullish divergence. huge climb

fundamentally nothing has changed for gold.
Twitter: Rummer_grapes
  • #558,435
  • Nov 11, 2020 8:21am Nov 11, 2020 8:21am
price can spike 30.. easy. careful
  • #558,436
  • Nov 11, 2020 8:26am Nov 11, 2020 8:26am
Quoting Coreg2004
{quote} pipfarm...choose your option... {image}

lol , i thought you could forecast the next wave

joking aside my plan is to wait for the 4H to show a correction, then i can jump on wave c or 3 or whatever it is, that is where the B correction within the larger ABC will show its hand.

There is still the option of more longs should the price action show it but atm im in doubt about that happening
Follow The Markets Structure - Patience and Discipline
  • #558,437
  • Nov 11, 2020 8:39am Nov 11, 2020 8:39am
Tp 30904 maybe friday we go there
  • #558,438
  • Nov 11, 2020 8:45am Nov 11, 2020 8:45am
Quoting gatenio
price can spike 30.. easy. careful
50 pips down within 40 mins.

upside move can cover back easily. only gu and eu can do that.
  • #558,439
  • Nov 11, 2020 8:47am Nov 11, 2020 8:47am
This setup i waiting for drop like a stone tp 261.8
Attached Image (click to enlarge)
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  • #558,440
  • Nov 11, 2020 8:48am Nov 11, 2020 8:48am
Quoting pipfarm
{quote} lol , i thought you could forecast the next wave joking aside my plan is to wait for the 4H to show a correction, then i can jump on wave c or 3 or whatever it is, that is where the B correction within the larger ABC will show its hand. There is still the option of more longs should the price action show it but atm im in doubt about that happening
pipfarm, ...the best I can do...
Attached Image (click to enlarge)
Click to Enlarge Name: 11.11.90M.png Size: 121 KB
Always trade your own plan...I don't provide trading signals.
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