Cable Update (GBPUSD)

Quoting Moty

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{quote} But i told him to go down and it did Now i am telling him to go up

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Quoting pipfarm

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{quote} Here is the chart As you can see on the daily timeframe this is the first time the minor higher low has broken to the downside during the whole up cycle btw this has nothing to do with elliott waves, it could have been any number of higher low minor swings, the important point to note is the break down of the last minor higher low within the larger cycle {image} Will take a look at what is happening with the break down using the 4 hour timeframe in the next post

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Quoting pipfarm

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{quote} Looking at the daily minor break down on the 4H now We can see the break down with its internal structure, so we have the break down swing A made from a smaller abc then we have the retest B which only has a and b complete and should be moving up to complete the c and then down for a very big drop into C As always confirm with price action and structure this post is for educational purposes ( trade at your own risk) {image}

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Quoting palpite

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{quote} I'll close this trade before the market to close. And in next week let's to use this template for to open the trades ok.

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Quoting NotAtrader

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{quote} All traders know there are two possible directions UP and DOWN. Few traders know which direction the price will go. There are many roads to Roma, but they all lead eventually to Roma. I just wonder how comes most of the times me and you meet in Roma. Continue to share your knowledge bud. Transfer of knowledge is one of the most powerful efforts that helps people open their eyes and think out of the box to understand things which will help them become better than their teachers. Keep it up bro.

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Quoting KiwiTrada

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{quote} you've been away mate, this bs pa has been last couple of years, trade ranges until trend shows and switch, smaller timeframes are suicide

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Quoting Bainbrito

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{quote} Agree, I'm leaning more towards non candle based charts like renko and heiken ashi to filter out false signals - in addition to studying S&D / S&R on candlestick charts H1 and above) {image}

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Quoting nAVIN2007

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{quote} yes these smaller time frames is like trying to catch blades, very tough

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Quoting Tim_isoara

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{quote} Day traders work every day with 1m,5m, 15m. I don't see any blades. Just charts and trade.

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Quoting Vincent1

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While the whole thread became a joke, we finally arrived at the end of the week The NFP data made the move, pushed the price up and here we have the result On the Weekly we have almost a Doji, a little bit red, and it is an outside bar. Maybe I can call it Spinning top if I remember the rules wrote by Steve Nison (studied long long time ago). The signal is a change in the balance, the bulls lose power, the bears increase it. Next week we need to see if this will keep going. The confirmation in the change of the balance is a new low under this...

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Quoting Moty

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this is my new band , it's called the magical ma , 34 ema h+c+l {image}

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Quoting Vincent1

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{quote} Another week is gone. Like last week's signals the Bears continue to gain power, the Bulls continue to lose it On a weekly basis, after last week's Spinning Top, we had a new low that just broke last week's low, and the candle is red, confirming last week idea. When the Bears will absorb all the buyers, we will see a long red candle on the Weekly too. {image} On the Daily we see that the Friday's close made an engulfing on Thursday. The signal is obviously bearish, but anyway not that strong because we are not at the top of an uptrend. The...

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