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Cable Update (GBPUSD)

  • #621,401
  • Sep 4, 2021 2:15pm Sep 4, 2021 2:15pm
Quoting Coreg2004
{quote} donfriday, you posted the EU chart. Here is the GU chart and the reason for my analysis. Do I know for sure if I've chosen the right pattern? No, but I will stick with it until proven otherwise. I know at what point this pattern becomes invalid, and there's all I need. You are right, labeling every tiny swing can drive a person crazy. I go with Fibonacci ratios (zones) for the end of the waves. {image} {image}
your analysis is always impressive Coreg
MY OPINION NOT FINANCIAL ADVISE
  • #621,402
  • Sep 4, 2021 3:17pm Sep 4, 2021 3:17pm
Quoting Georginson
{quote} Honestly, This remaining 4 months of year 2021 looks almost imminent for a crash to 1.28xx by or before December.
Well for me 1.46 is very much expected before year end
  • #621,403
  • Sep 4, 2021 4:57pm Sep 4, 2021 4:57pm
Quoting fxmasterdxb
{quote} Well for me 1.46 is very much expected before year end

I think you are right
MY OPINION NOT FINANCIAL ADVISE
  • #621,404
  • Sep 4, 2021 6:07pm Sep 4, 2021 6:07pm
Quoting Houtbay
If anyone did physics at school. The concept of force has helped me understand a lot around the concept and the reaction of price to an event
That's cool!
My first look at the market data was from the point of view of statistical mechanics since this is my educational background. And I didn't know about sup/res and all the stuff.

Btw, Osborne rediscovered the Brownian motion of stock market in 1950s, Black and Scholes reduced an option pricing problem to a diffusion equation. Physics is very useful... everywhere.
Air force
  • #621,405
  • Sep 4, 2021 6:20pm Sep 4, 2021 6:20pm
Quoting ahsanhabib92
I think most of the traders here are doing forex on Demo Account
What is demo? I trade in piles of leaves. Autumn is the best time for me.
Air force
  • #621,406
  • Sep 5, 2021 2:07am Sep 5, 2021 2:07am
Hi Coreg. Thank you for your pdf on waves. In terms of Gbpusd cross the daily reaction was it to the 4th wave in the 2nd up phase.
  • #621,407
  • Sep 5, 2021 2:30am Sep 5, 2021 2:30am
Wolfram I will look at Osborne and Black and Scholes teachings. For me I like to keep everything as simple as possible.
  • #621,408
  • Sep 5, 2021 2:35am Sep 5, 2021 2:35am
Quoting Coreg2004
{quote} Ihlas, yes, yes, and yes. {image}
Hi Coreg,
Nice chart as always. Thank you for your suggestion 6-8 months ago. Glad you are back again.
Yes, the previous weekly low will be broken.
  • #621,409
  • Sep 5, 2021 2:39am Sep 5, 2021 2:39am
The amazing thing with life and trading there is not one right or wrong system, and at the end of the day we all see the same things differently anyway.
  • #621,410
  • Sep 5, 2021 2:47am Sep 5, 2021 2:47am
ABC correcrion not completed ( even A leg of ABC not completed ) Just a bit panic buying after daily death cross ... a normal wave to start new month after bearish august.

Imho and 2 cent only , Hv a great weekend
not euphoria follower
  • #621,411
  • Sep 5, 2021 2:55am Sep 5, 2021 2:55am
Which is the best book to read ,that discusses Elliott wave for a simple person like me.
  • #621,412
  • Sep 5, 2021 3:24am Sep 5, 2021 3:24am
FYI
tomorrow US and CAD bank holiday
  • #621,413
  • Sep 5, 2021 6:08am Sep 5, 2021 6:08am
Quoting gatenio
FYI tomorrow US and CAD bank holiday
yup means the most action will be before mid day Uk time. And then it goes to Lala land
Insane in the Brain..
  • #621,414
  • Sep 5, 2021 6:47am Sep 5, 2021 6:47am
Quoting Houtbay
Which is the best book to read ,that discusses Elliott wave for a simple person like me.

  1. Trading Chaos: Applying Expert Techniques to Maximize Your Profits ( 1st Edition ) By Bill Williams, The book explain how to counting Elliott wave with a simple way
  2. Fibonacci Applications And Strategies For Traders, By Robert Fischer - The book explain how to counting Elliott wave with ratio of Fibonacci

Both are a source of my knowledge when I trade the market, and the results were amazing! I didn't counting the waves, but I traded them

--- Have a great weekend

Daddy, Brother, Lover, Little Boy
  • #621,415
  • Edited 10:59am Sep 5, 2021 7:21am | Edited 10:59am
Quoting BeeTogether
{quote} yup means the most action will be before mid day Uk time. And then it goes to Lala land
I don't know what going to happen and when.

if you ask me Monday Tuesday should be a short only below 1.39 to 1.378-1.38 (this area is golden ratio cluster of Fibonacci retracements and the 38.2 retracement of the ABCD 1.27 pattern.
this should be the low of the week before another fly to 1.395 minimum.

on the other hand, if 1.377(month strong support) will break to the downside. then, different story!
Attached Image (click to enlarge)
Click to Enlarge Name: 7305a74f52f22e5f2c58814362bda785.png Size: 78 KB
  • #621,416
  • Sep 5, 2021 7:29am Sep 5, 2021 7:29am
Quoting Mr.Burger
{quote} Trading Chaos: Applying Expert Techniques to Maximize Your Profits ( 1st Edition ) By Bill Williams, The book explain how to counting Elliott wave with a simple way Fibonacci Applications And Strategies For Traders, By Robert Fischer - The book explain how to counting Elliott wave with ratio of Fibonacci Both are a source of my knowledge when I trade the market, and the results were amazing! I didn't counting the waves, but I traded them --- Have a great weekend
Tingkat tinggi ini sih bacaannya
not euphoria follower
  • #621,417
  • Sep 5, 2021 8:58am Sep 5, 2021 8:58am
Quoting Coreg2004
{quote} corongumet, here you have it. The rest of what I'm using in my analysis you can find in my profile in the files folder. {image}

i have just a small fraction of elliot wave, i love to learn EW cus i think it give a good picture of the direction. i mostly count the abc more effectively but i think as time pass by i will get good with it...

thnx for the book it help adding ew to what i already knew in past years will be a bonus.
MY OPINION NOT FINANCIAL ADVISE
  • #621,418
  • Sep 5, 2021 9:06am Sep 5, 2021 9:06am
Quoting Coreg2004
{quote} donfriday, you posted the EU chart. Here is the GU chart and the reason for my analysis. Do I know for sure if I've chosen the right pattern? No, but I will stick with it until proven otherwise. I know at what point this pattern becomes invalid, and there's all I need. You are right, labeling every tiny swing can drive a person crazy. I go with Fibonacci ratios (zones) for the end of the waves. {image} {image}
B finish up than Zero. The pattern it's invalid or not?
  • #621,419
  • Edited 12:15pm Sep 5, 2021 9:35am | Edited 12:15pm
Quoting Tim_isoara
{quote} B finish up than Zero. The pattern it's invalid or not?
perhaps, I'm sure he's drawing irregular correction
Attached Image


Edit: eliminated the word of sure, overconfidence lead to accidents
Daddy, Brother, Lover, Little Boy
  • #621,420
  • Sep 5, 2021 10:09am Sep 5, 2021 10:09am
Attached Image (click to enlarge)
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