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Cable Update (GBPUSD)

Quoting maheeee
gbpusd will go below today's opening price within few minutes....and candle will end as bear...........
well it's been a few minutes, and nothing ...should we give it a bit longer or should you give your crystal ball a polish, see if you can get a clearer picture?
Intraday (mainly) swing scalper (+,) via a Supp/Res & PA based edge.
Quoting maheeee
gbpusd will go below today's opening price within few minutes....and candle will end as bear...........
WOW..
extrasense among us
Quoting maheeee
gbpusd will go below today's opening price within few minutes....and candle will end as bear...........

Perfect for the bulls , its possible it might retrace to 138.70 or spike lower to the gap as that would make the second fractal swing after the prior daily correction and a perfect opportunity for bulls to take the third fractal swing up to new highs.

For the moment we are way off that situation.
Follow The Markets Structure - Patience and Discipline
Quoting Marbas
{quote} WOW.. extrasense among us
that ain't nothing - I see dead people...here, everyday !
Intraday (mainly) swing scalper (+,) via a Supp/Res & PA based edge.
Quoting pipfarm
{quote} Personally i never stack orders, i will split my position into two, one to cover the stop and one to let run, once price is equal to the stop i close first position and let the second run but keep the stop in the same place. If i see any pa that is adverse to my trade and if i have had a losing trade or 2 in a row which thankfully does not happen too often these days, i will close the whole position with the stop level profit if i am able to , not only does this help cover some of the loss but is also good from a psychological point of view....
I enjoy stacking a lot.. Maybe because I could archive more profits doing it.. But I like your positioning idea. I use that style with GOLD and really aggressive instruments..
Quoting Headland
{quote} that ain't nothing - I see dead people...here everyday !
And we love to see them
Considering this swing started around 3133 how many rotations of trend /correction would you expect? you can cycle down through the timeframes and trade all the rotations until eventually as i have said many times the swing will end eventually and the next larger fractal rotation down if its corrective will give bulls the next chance to take it to new highs.
Follow The Markets Structure - Patience and Discipline
Quoting Mcbeaners
{quote} you looking at vp from 2018? sure looks like it. and if you are i'd agree that's our rough current trading range. i decide to close my position for the moment and will see if we drift down here. buy the dip mode.
vp from 2018 - we are currently "resting" on the poc
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In tea leaves we trust!
For all the self-congratulation, in the final analysis bulls advanced just a few pips since the Asian session. Looks like tomorrow we will see a red day. Brexit news are not great + almost 500 pips from Friday low to Thursday high is a bit too fast for GU.
Here we are...
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Quoting MidnightRun
Moty, MA candles: MA1 - 5, MA2 - 20? Thanks.
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The "latest Brexit updates" have all the validity and value of recycled garbage.

Correction: A few gems can be found in other people's garbage.

Follow your chart and may the pips be with you...

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Good Vibes - In charts we trust
Pulchra All Time Return: -88.4%
Quoting pipfarm
Considering this swing started around 3133 how many rotations of trend /correction would you expect? you can cycle down through the timeframes and trade all the rotations until eventually as i have said many times the swing will end eventually and the next larger fractal rotation down if its corrective will give bulls the next chance to take it to new highs.
I understand your reasoning TBH.. However, we have a larger degree from the bigger TF together with TIMING.
By the books, we should retrace back to 1.3400 area but I am struggling to see that happening due to timing being OFF .. If this was the plan, we would have had it since the first or second hit of 100% of the weekly range. This did not happen..

For me, I will like to think MM is trying to bring in last batch of invisible sellers before extending the middle finger ..
I could be horribly wrong by default but this is my reasoning.

Lastly, to confirm if this bear retrace is true or false, 1.35963 should send it right back if/when it retests it ... but if it close above, then it's a false move.
keeping an eye on the mentioned handle

PA remains KING of KINGS
Quoting maheeee
gbpusd will go below today's opening price within few minutes....and candle will end as bear...........
Nice call friend, it may be taking more than few minutes but rolling with promise.
I see a possible double top formation on H1. Levels to watch for a possible long trade on the chart.

The setup for the short trade @ 1.2625 was posted here https://www.forexfactory.com/thread/...4#post13317644
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that's all folks
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GBPUSD hurry up..

come below today's open price and end a candle as bear

only few minutes left...............
Quoting trumps
The "latest Brexit updates" have all the validity and value of recycled garbage. Correction: A few gems can be found in other people's garbage. Follow your chart and may the pips be with you... https://youtu.be/f4Mc-NYPHaQ {image}
and I see the USD is in a spot of bother
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Good Vibes - In charts we trust
Pulchra All Time Return: -88.4%
Quoting JayBag
{quote} I understand your reasoning TBH.. However, we have a larger degree from the bigger TF together with TIMING. By the books, we should retrace back to 1.3400 area but I am struggling to see that happening due to timing being OFF .. If this was the plan, we would have had it since the first or second hit of 100% of the weekly range. This did not happen.. For me, I will like to think MM is trying to bring in last batch of invisible sellers before extending the middle finger .. I could be horribly wrong by default but this is my reasoning. Lastly,...

True it is very unusual the way price climbed the whole range without looking back , i know of only one situation where that happens and it is called a market blow off top.

Here is the official definition

"A blow off top is a reference in the financial markets. A blow off top is typically associated with a chart pattern which shows a sharp and a rapid increase in a security's price as well as trading volumes. A blow off top is usually driven by speculation or it can also be driven by actual fundamentals.

The blow off top is usually seen as an exhaustion move. In terms of technical analysis, blow off top is usually associated with the fifth wave of the Elliott wave form of analysis. An important point to note is that a blow off top can only be determined in hindsight. Therefore, just because you see the price of a security making a sharp parabolic move does not necessarily mean that it is a blow off top in the making."

We are in a wave 5 as i see it , of course volumes we do not know about.

I think the answer is to carry on treating every move down as a correction and go long when PA is in agreement so yes PA REMAINS KING OF THE CASTLE UNTIL THE BEAR INVADERS ARRIVE
Follow The Markets Structure - Patience and Discipline
gu , i will not leave you alone
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