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Cable Update (GBPUSD)

  • #570,821
  • Jan 7, 2021 10:11am Jan 7, 2021 10:11am
...probably just took a few 'tight' stops of long positions there before the bounce lol !... did same @ 3539 re prev 3541 lo.
Trader with an Edge.
  • #570,822
  • Jan 7, 2021 10:11am Jan 7, 2021 10:11am
Quoting JayBag
{quote} Aha.. I think it will sprint now that you got in.. Welcome bro Thinking about similar target? Or have one in mind?
i posted yesterday my chart 1.38 on the point!
  • #570,823
  • Jan 7, 2021 10:13am Jan 7, 2021 10:13am
Quoting pipfarm
{quote} Haha, In your words " you would consider it a correction if 1.35415 breaks" keep buying i will wait for confirmation for the correction to end.
And that number refuses to break right?
So, I keep buying .. Simple maths for me

Looking forward to seeing you join the train North.
  • #570,824
  • Jan 7, 2021 10:14am Jan 7, 2021 10:14am
Quoting gatenio
{quote} after the potential bearish flag is invalid the short term target remain 1.38, dont risk too much on it.. at this levels price can get slaps down once in a while. {image}
jay.. here is it
  • #570,825
  • Jan 7, 2021 10:16am Jan 7, 2021 10:16am
Quoting gatenio
{quote} i posted yesterday my chart 1.38 on the point!
Awesome! must have missed it

just a 100 pips away from mine.. Will sure close a few if/when we get to your target..

SS
  • #570,826
  • Jan 7, 2021 10:16am Jan 7, 2021 10:16am
Quoting pipfarm
{quote} No way will i buy now but wishing you good luck if you did buy it already
What specifically are you looking for to serve as confirmation? In what time frame? Thanks.
Observation is the path to discovery.
  • #570,827
  • Jan 7, 2021 10:19am Jan 7, 2021 10:19am
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Maadik Hugiis. IQ 69.
  • #570,828
  • Jan 7, 2021 10:23am Jan 7, 2021 10:23am
Ok, we had a strong rebounce at 4hr MA100 and I had closed my previous position. So, I will open another 1 lot sell at MA50, which is at 1.3596. Waiting for it...
Multiple Position Trader
  • #570,829
  • Jan 7, 2021 10:29am Jan 7, 2021 10:29am
try a long position for 50pips...
Extreme gut feeling trader
  • #570,830
  • Jan 7, 2021 10:29am Jan 7, 2021 10:29am
..I'm glad it didn't break 3704 so I don't have to work out all the fibs again lol !

current state of 20/50/100 ema crosses as below....

the immediate near-term 3 (+) fib clusters of major swing lo's to that 3704 swing hi are 3507-03, 3494-86, 3388-79, 3361-52, and 3319-10. There are of course other single fibs down to the lowest point descibed above, but not many - they seem to have 'clustered.'
Attached Image
Trader with an Edge.
  • #570,831
  • Jan 7, 2021 10:29am Jan 7, 2021 10:29am
Quoting Alorente
{quote} What specifically are you looking for to serve as confirmation? In what time frame? Thanks.
Several things on 4H timeframe

At minimum two minor swing downs which we have

Some momentum divergence between two minor corrective swings which we have

Rising momentum on the larger swing ( none as of yet)

A turning point on the larger swing (none yet)

A break above 1.36242 which is the larger swing high prior to the current one ( support now becomes resistance)

Daily must confirm the 4H corrective swing against the larger degree daily swing.
Follow The Markets Structure - Patience and Discipline
  • #570,832
  • Jan 7, 2021 10:36am Jan 7, 2021 10:36am
M15 looks like a diamond
If you don't know how to earn money, don't loose it.
  • #570,833
  • Edited 11:01am Jan 7, 2021 10:37am | Edited 11:01am
Quoting JayBag
{quote} And that number refuses to break right? So, I keep buying .. Simple maths for me Looking forward to seeing you join the train North.

1.3536 its already broken your level at 1.35415

All in good time and at the right time for me i hope to be long
Follow The Markets Structure - Patience and Discipline
  • #570,834
  • Jan 7, 2021 10:44am Jan 7, 2021 10:44am
Quoting pipfarm
{quote} 1.3536 its already broken All in good time and at the right time for me i hope to be long
If I may ask, what time frame are you on? M1? 1.35415 is the level I said must break for me to consider correction ..
  • #570,835
  • Jan 7, 2021 10:45am Jan 7, 2021 10:45am
Quoting W0lfram
1. Consolidation area will hold till Monday or even further 2. Extreme break in either direction today-tomorrow {image}
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Air force
  • #570,836
  • Jan 7, 2021 10:49am Jan 7, 2021 10:49am
Quoting pipfarm
{quote} Several things on 4H timeframe At minimum two minor swing downs which we have Some momentum divergence between two minor corrective swings which we have Rising momentum on the larger swing ( none as of yet) A turning point on the larger swing (none yet) A break above 1.36242 which is the larger swing high prior to the current one ( support now becomes resistance) Daily must confirm the 4H corrective swing against the larger degree daily swing.
Thanks for the info.
Observation is the path to discovery.
  • #570,837
  • Jan 7, 2021 10:50am Jan 7, 2021 10:50am
Quoting JayBag
{quote} If I may ask, what time frame are you on? M1? 1.35415 is the level I said must break for me to consider correction ..

4 hour is my lowest timeframe for this particular correction as the origin is daily
Follow The Markets Structure - Patience and Discipline
  • #570,838
  • Jan 7, 2021 10:53am Jan 7, 2021 10:53am
today closing price is above or near to today's open price......

lets wait and see...........
  • #570,839
  • Jan 7, 2021 10:55am Jan 7, 2021 10:55am
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  • #570,840
  • Jan 7, 2021 10:56am Jan 7, 2021 10:56am
Quoting pipfarm
{quote} 4 hour is my lowest timeframe for this particular correction as the origin is daily
Alright.. Just curious how you saw 1.3536 being broken?
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