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Cable Update (GBPUSD)

  • #570,741
  • Jan 7, 2021 4:38am Jan 7, 2021 4:38am
Quoting pipfarm
{quote} Hi Wavegarrick, i see you have been using this cycles method for some time now and i had a read of your thread on the other forum , i noticed you trade every cycle , corrective and impulsive , is that intentional or does you system not recognise the difference?
Hi Pipfarm,
Correct I trade every cycle. My system does not recognize the difference and most of the time I have no clue if we are at a major turning point or just a simple correction, which is probably where I struggle the most. Much like Davit's pivot system I look at weekly monthly and yearly pivot support/resistance confluences to more or less gauge turning points and when I get cyclic turns I go with them. When we get into impulsive and trendy moves my system is a breeze and catches the moves nicely.
Cheers.
Trade to trade another day
  • #570,742
  • Jan 7, 2021 4:38am Jan 7, 2021 4:38am
Quoting nessus94
{quote} 88xx is greed no? i don't know
you or myself yelling "toilet paper"?
  • #570,743
  • Jan 7, 2021 4:40am Jan 7, 2021 4:40am
Selling 3592 for about 33 pips.
M30 chart
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in wondering about yourself, you forgot what you came here to be part of
  • #570,744
  • Jan 7, 2021 4:44am Jan 7, 2021 4:44am
Quoting gatenio
{quote} you or myself yelling "toilet paper"?
it is toilet paper soon

but you have to know when to stop selling
Make money by doing the opposite of Giveachance aka loser
  • #570,745
  • Jan 7, 2021 4:44am Jan 7, 2021 4:44am
Quick scalp
edit closed
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  • #570,746
  • Jan 7, 2021 4:45am Jan 7, 2021 4:45am
Really shaky with the PA of GU so went with GJ instead.
Solid fibo levels similar to what happened yesterday with GU.
Attached Image (click to enlarge)
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  • #570,747
  • Jan 7, 2021 4:46am Jan 7, 2021 4:46am
Quoting joesherwood
Quick scalp edit closed {image}
Why? How about TP 1.350xx?
  • #570,748
  • Jan 7, 2021 4:48am Jan 7, 2021 4:48am
Quoting nessus94
{quote} it is toilet paper soon but you have to know when to stop selling
im not, i show you bullish divergence at buying zone.
88.7 make be put the house on it
  • #570,749
  • Jan 7, 2021 4:49am Jan 7, 2021 4:49am
Quoting Maximumheigh
{quote} Out of the long. 1.355x broken. 1.351x on site
Can we see 1.351x today? Abit of S to conquer. Offloading some shorts
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2021-01-07-11-46-02-70_a068875e8d70110f8d1ec48729c67374.jpg Size: 327 KB
  • #570,750
  • Jan 7, 2021 4:49am Jan 7, 2021 4:49am
Quoting Wavegarrick
{quote} Hi Pipfarm, Correct I trade every cycle. My system does not recognize the difference and most of the time I have no clue if we are at a major turning point or just a simple correction, which is probably where I struggle the most. Much like Davit's pivot system I look at weekly monthly and yearly pivot support/resistance confluences to more or less gauge turning points and when I get cyclic turns I go with them. When we get into impulsive and trendy moves my system is a breeze and catches the moves nicely. Cheers.
Hello Wavegarrick. Where can I read about your system in detail? Thanks.
Observation is the path to discovery.
  • #570,751
  • Jan 7, 2021 4:53am Jan 7, 2021 4:53am
Quoting knkie
Selling 3592 for about 33 pips. M30 chart {image}
exit +30 pips
in wondering about yourself, you forgot what you came here to be part of
  • #570,752
  • Jan 7, 2021 4:55am Jan 7, 2021 4:55am
Quoting Wavegarrick
{quote} Hi Pipfarm, Correct I trade every cycle. My system does not recognize the difference and most of the time I have no clue if we are at a major turning point or just a simple correction, which is probably where I struggle the most. Much like Davit's pivot system I look at weekly monthly and yearly pivot support/resistance confluences to more or less gauge turning points and when I get cyclic turns I go with them. When we get into impulsive and trendy moves my system is a breeze and catches the moves nicely. Cheers.

Thanks for the answer, i guess in some ways its not such a bad thing, the main thing is to know when the cycle is changing and you will get some losses along with some big wins as i have seen you do.

Did you watch that video i posted ,, it might help , at the moment only six people liked it so i am still debating if i should make a discussion thread on how to link the cycles together.

Happy Trading
Follow The Markets Structure - Patience and Discipline
  • #570,753
  • Jan 7, 2021 5:01am Jan 7, 2021 5:01am
Careful guys. Charts beginning to look a bit ..stretched and US political events might provide the catalyst for scary corrections. I have began to lighten up and take profit on USD shorts and stockmarket index and commodity longs. Eyes on Chinese indices as well, which also show signs of exhaustion moves

Long dated bonds also show interesting chart patterns, which I have been following as they play out for months. Remember, long term bond prices are inversely correlated with share prices

edit: oops, wrong chart. Curse those fish fingers!
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  • #570,754
  • Jan 7, 2021 5:06am Jan 7, 2021 5:06am
Cable is going the wrong way again.. Moty can we use your please? When is Spike Lee coming ??
Insane in the Brain..
  • #570,755
  • Jan 7, 2021 5:08am Jan 7, 2021 5:08am
Quoting Alorente
{quote} Hello Wavegarrick. Where can I read about your system in detail? Thanks.
Hi Al,
I remember you from Steve Hopwood's forum, many years ago. Much of my thinking and methodology was born there and you will find a dedicated thread with all my indicators and system. I also quote all my screenshots here when I enter trades so worthwhile to go back, check and compare.
Cheers
Leon.
Trade to trade another day
  • #570,756
  • Jan 7, 2021 5:19am Jan 7, 2021 5:19am
Quoting Wavegarrick
{quote} Hi Al, I remember you from Steve Hopwood's forum, many years ago. Much of my thinking and methodology was born there and you will find a dedicated thread with all my indicators and system. I also quote all my screenshots here when I enter trades so worthwhile to go back, check and compare. Cheers Leon.
Thanks Wave. I will look for it. I have been following your posts on this thread and the system seems solid.
Observation is the path to discovery.
  • #570,757
  • Jan 7, 2021 5:26am Jan 7, 2021 5:26am
Quoting pipfarm
{quote} Thanks for the answer, i guess in some ways its not such a bad thing, the main thing is to know when the cycle is changing and you will get some losses along with some big wins as i have seen you do. Did you watch that video i posted ,, it might help , at the moment only six people liked it so i am still debating if i should make a discussion thread on how to link the cycles together. Happy Trading
I did not watch the video and missed it somehow. Could you point me in the right direction? Would love to watch it.
Cheers.
Trade to trade another day
  • #570,758
  • Jan 7, 2021 5:26am Jan 7, 2021 5:26am
Hi everybody,

after hitting the 1.37 tgt and before getting to 1.40 area I expect some minor retracement. I think 1.34 will be hit and maybe 1.33 too, hard to say for me whether it will go lower, but at the moment it seems unlikely. On the chart are what I consider tha main supports.

Attached Image (click to enlarge)
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  • #570,759
  • Jan 7, 2021 5:26am Jan 7, 2021 5:26am
Quoting Wavegarrick
{quote} Hi Al, I remember you from Steve Hopwood's forum, many years ago. Much of my thinking and methodology was born there and you will find a dedicated thread with all my indicators and system. I also quote all my screenshots here when I enter trades so worthwhile to go back, check and compare. Cheers Leon.
Hi WG,
I was wondering when do you take profit, or you just enter the other side of trade?
Thanks.
  • #570,760
  • Jan 7, 2021 5:28am Jan 7, 2021 5:28am
Quoting Wavegarrick
{quote} I did not watch the video and missed it somehow. Could you point me in the right direction? Would love to watch it. Cheers.

https://www.forexfactory.com/thread/...3#post13346093
Follow The Markets Structure - Patience and Discipline
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