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Cable Update (GBPUSD)

  • #576,601
  • Feb 5, 2021 11:44am Feb 5, 2021 11:44am
Quoting Theoak
This is setting up for a long!!!
I close my trade.
Going to sleep now.
  • #576,602
  • Feb 5, 2021 11:47am Feb 5, 2021 11:47am
Quoting Gerozepin
{quote} I close my trade. Going to sleep now.
Have a nice sleep, might bush the button soon!!!
Don't trade what you think. Just what you see!!!
  • #576,603
  • Feb 5, 2021 11:50am Feb 5, 2021 11:50am
Careful with longs.. DXY testing the breakout level, lets see how it develops. With that said I'll let my short get stopped out breakeven if need be. Euro's reaction to 1.2050/60 may decide.
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  • #576,604
  • Feb 5, 2021 11:51am Feb 5, 2021 11:51am
Quoting Theoak
{quote} Have a nice sleep, might bush the button soon!!!
Pushed the button. Long in at 1.3728
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Don't trade what you think. Just what you see!!!
  • #576,605
  • Feb 5, 2021 12:10pm Feb 5, 2021 12:10pm
Quoting Vincent1
{quote} Hi Coreg, I see the Bulls' power in last two days on Cable, maybe we are not in an ending diagonal Daily Do you have a simulation with top around 1.4080 ? On the Weekly, it looks to me, we can see the Bears just upthere
Vincent1, as I said in my post with a wedge or ending diagonal you are sure of the pattern way after the fact. I don't want to even pretend that I know how to better label the last move so I depend on the Fibonacci ratio to find out where the potential end of (v) might be ...I dropped in September the count of W(1)-(5) because W(4) got into the W(1) and concentrated only on the last sequence...You can find a similar chart from that time in my profile.
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Always trade your own plan...I don't provide trading signals.
  • #576,606
  • Feb 5, 2021 12:19pm Feb 5, 2021 12:19pm
Quoting mysterio
Careful with longs.. DXY testing the breakout level, lets see how it develops. With that said I'll let my short get stopped out breakeven if need be. Euro's reaction to 1.2050/60 may decide. {image}

Agree. EU currently test critical Head and Shoulder pattern from below. Also interesting possible rounding bottom showing 1 and 4 H time frames EG
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  • #576,607
  • Feb 5, 2021 12:27pm Feb 5, 2021 12:27pm
Quoting babayaga
{quote} crude oil finally will go down ??? if so, thank you
Here's my take on Oil. Notes on the chart. My opinion. Oil going higher, OPEC doesn't have dog in this fight. Russia and Middle East control prices.
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  • #576,608
  • Feb 5, 2021 12:30pm Feb 5, 2021 12:30pm
Hello everyone,

I think the GBPUSD pair will go higher next week.

This is because of the bad NFP news that came out for USD today.

In addition to that, I think it is wise to mention here that the GBPUSD pair has been trading between 1.3750 and 1.3600.

I think the high, 1.3750, might be broken next week.

Please guys, what are your views or opinion on this issue?

We need to have an idea on where the market is heading next week.

Thank you.

Trade Safely.
  • #576,609
  • Feb 5, 2021 12:31pm Feb 5, 2021 12:31pm
Quoting Coreg2004
{quote} Vincent1, as I said in my post with a wedge or ending diagonal you are sure of the pattern way after the fact. I don't want to even pretend that I know how to better label the last move so I depend on the Fibonacci ratio to find out where the potential end of (v) might be ...I dropped in September the count of W(1)-(5) because W(4) got into the W(1) and concentrated only on the last sequence...You can find a similar chart from that time in my profile. {image}
Sorry for my question, I've read the book "Elliott wave principle" just twice, but I'm not good to apply the theory. I know some Elliotticians use to have more simulations in the same time, or possible scenarios, waiting for the pattern to complete

About the level 1.4080, there is some Fibo correlation in the area, and also some harmonic pattern (a Butterfly and a Shark). Of course there was great supply there last time. My idea was just to find an Elliott correlation to increase the probabilities
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  • #576,610
  • Feb 5, 2021 12:49pm Feb 5, 2021 12:49pm
Hope everyone did good today. I held onto my long @3640 from yesterday and got stopped out @3700 with +60 pips that I'd protected.

Glad to see the pair back in the 3700-40 range though.
  • #576,611
  • Feb 5, 2021 12:49pm Feb 5, 2021 12:49pm
Always the same Friday after London closes no Juice!!!
Don't trade what you think. Just what you see!!!
  • #576,612
  • Edited 1:10pm Feb 5, 2021 12:49pm | Edited 1:10pm
Quoting Vincent1
{quote} Sorry for my question, I've read the book "Elliott wave principle" just twice, but I'm not good to apply the theory. I know some Elliotticians use to have more simulations in the same time, or possible scenarios, waiting for the pattern to complete About the level 1.4080, there is some Fibo correlation in the area, and also some harmonic pattern (a Butterfly and a Shark). Of course there was great supply there last time. My idea was just to find an Elliott correlation to increase the probabilities {image}
Vincent1, I've read maybe 10 times and already understand half of it...you are doing very good...always trade what you see...you will know when you are wrong or when you are correct, that's what counts...
Edit: corrected one level
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Always trade your own plan...I don't provide trading signals.
  • #576,613
  • Feb 5, 2021 12:53pm Feb 5, 2021 12:53pm
Quoting mysterio
Careful with longs.. DXY testing the breakout level, lets see how it develops. With that said I'll let my short get stopped out breakeven if need be. Euro's reaction to 1.2050/60 may decide. {image}
DXY at a bounce zone now. Might see some downwards movement on cable when we see some dollar strength return.
  • #576,614
  • Feb 5, 2021 12:56pm Feb 5, 2021 12:56pm
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yes yes yes
  • #576,615
  • Feb 5, 2021 1:02pm Feb 5, 2021 1:02pm
I'm not sure. From my observations, divergence in a low volume area suggest a move. Down in this case.
Wedges usually breaks at 2/3 of the way to apex (just drew a triangle). It's about time to.
1.38 ok, but time to visit PoC.
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Air force
  • #576,616
  • Feb 5, 2021 1:17pm Feb 5, 2021 1:17pm
Quoting Coreg2004
{quote} Vincent1, I've read maybe 10 times and already understand half of it...you are doing very good...always trade what you see...you will know when you are wrong or when you are correct, that's what counts... Edit: corrected one level {image}
EW have XYZ? and. Not just 12345abc
  • #576,617
  • Feb 5, 2021 1:38pm Feb 5, 2021 1:38pm
Quoting Theoak
{quote} Pushed the button. Long in at 1.3728 {image}
A pip or or two up. This time friday its always the same. Just going to get out of this with a profit as don't want to stuck in this over weekend.

Good luck all and see later
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Don't trade what you think. Just what you see!!!
  • #576,618
  • Feb 5, 2021 1:45pm Feb 5, 2021 1:45pm
Quoting Tim_isoara
{quote} EW have XYZ? and. Not just 12345abc
Tim_isoara, awesome...unfortunately for me I don't have enough brain to learn 26 corrective patterns and apply them on the fly for day trading so I decided to stick with 12345 and 6 corrective pattern plus harmonic patterns and range trading (daily, weekly)...my bad, I hope you forgive me.
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Attached Image
rest assured that I am familiar with wxy pattern just chose not to mark them that way...instead I mark them as double and tripel three,
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Always trade your own plan...I don't provide trading signals.
  • #576,619
  • Feb 5, 2021 1:46pm Feb 5, 2021 1:46pm
Quoting aggieman01
{quote} Here's my take on Oil. Notes on the chart. My opinion. Oil going higher, OPEC doesn't have dog in this fight. Russia and Middle East control prices. {image}

thank you for your kind attention,..

excuse me, are you chauvinist, btw
.., because I am Russian

(and you only wrote: "USA Oil companies Bankrupt from low price..." that's it, nothing else you can say about American's part of...)

anyway, would you be so kind to tell me about the beginning of all this story?

I put the arrows for you to understand what I am talking about

Thank you

have a nice weekend

https://www.forexfactory.com/attachm...1&d=1612549618
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dolce vita
  • #576,620
  • Feb 5, 2021 2:24pm Feb 5, 2021 2:24pm
Quoting Olabanji-Tex
Hello everyone, I think the GBPUSD pair will go higher next week. This is because of the bad NFP news that came out for USD today. In addition to that, I think it is wise to mention here that the GBPUSD pair has been trading between 1.3750 and 1.3600. I think the high, 1.3750, might be broken next week. Please guys, what are your views or opinion on this issue? We need to have an idea on where the market is heading next week. Thank you. Trade Safely.
There is NO BAD NFP news.
Todays USD fall is just a trap and corrective.
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