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Cable Update (GBPUSD)

  • #621,601
  • Sep 6, 2021 10:43am Sep 6, 2021 10:43am
Quoting stevepatt
{quote} GBP/USD Canceled Pending Short at 1.38600 GBP/USD M5 Observations {image}

GBP/USD Pending Short Trade
Attached Image (click to enlarge)
Click to Enlarge Name: 6th Sept 21 GBP_USD Pending Long Trade_20210906_16.31.png Size: 119 KB
  • #621,602
  • Sep 6, 2021 10:44am Sep 6, 2021 10:44am
Quoting mysterio
Anticipated buy zones around 1.38 No buying before then for me also no selling into an uninterrupted sell off {image}
can you explain "no selling into an uninterrupted sell off" ?

do you mean, there should be a solid bounce up, and move down, for you to sell it ?
  • #621,603
  • Sep 6, 2021 10:46am Sep 6, 2021 10:46am
Hello friends, we anticipate to see price close bullish though holiday is a factor but yet as at now Europeans are set to resume seeking tomorrow when price have returned back to 1.5855 level from now to Asia overnight till 7:00gmt that is to say price may continue to stay down for the Asia session before uptick. However the Europeans also decides whether Tuesday ends bullish or bearish as the bearish sentiment we see now can change
  • #621,604
  • Sep 6, 2021 10:47am Sep 6, 2021 10:47am
Quoting genadi
{quote} can you explain "no selling into an uninterrupted sell off" ? do you mean, there should be a solid bounce up, and move down, for you to sell it ?
Didn't mean a whole lot by it. Just that GU has moved down in a straight line so i'm not interested in selling it unless it pulls back significantly. Generally i'm looking to sell into up moves and buy into down moves to get good RR. Just to avoid any confusion on my chart. Although i'll be interested in buying at 1.38 doesn't mean I'd open a sell now to get there as it could retrace up quite a bit before it gets there. Market structure still pointing towards bulls so favour buying around this kind of area. Although my original plan last week was that the Friday high could be a reversal point as I thought the mid August highs were the target destination for kind of an extended stop run in a bear market so haven't ruled this out either. This is my approach and it tends to work best for ranging markets and I tend to struggle to shift gear into trading with the momentum tbh.
  • #621,605
  • Sep 6, 2021 10:48am Sep 6, 2021 10:48am
EU 1.17600
Good luck guys
Green pips
  • #621,606
  • Sep 6, 2021 11:01am Sep 6, 2021 11:01am
Quoting Bigbul
i don't know this time! short or long,,still waiting for 1.3800 for buy or 1.3900 for sell.
Any entry will be good.
Will deffinetly re-visit last Fridays high. Likely will start to range, so buy low, sell high.
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  • #621,607
  • Sep 6, 2021 11:27am Sep 6, 2021 11:27am
Quoting gabolan3
Hello friends, we anticipate to see price close bullish though holiday is a factor but yet as at now Europeans are set to resume seeking tomorrow when price have returned back to 1.5855 level from now to Asia overnight till 7:00gmt that is to say price may continue to stay down for the Asia session before uptick. However the Europeans also decides whether Tuesday ends bullish or bearish as the bearish sentiment we see now can change
gabolan3, you mean 1.3855???
Always trade your own plan...I don't provide trading signals.
  • #621,608
  • Sep 6, 2021 11:41am Sep 6, 2021 11:41am
Quoting phd893
{image}
Attached Image (click to enlarge)
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  • #621,609
  • Sep 6, 2021 11:47am Sep 6, 2021 11:47am
hi all... trade taken.. ignore the colors if bothering.. lol
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  • #621,610
  • Sep 6, 2021 11:55am Sep 6, 2021 11:55am
Quoting Coreg2004
{quote} gabolan3, you mean 1.3855???

check out the count...of eu
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD_20210906_16.54.png Size: 100 KB
MY OPINION NOT FINANCIAL ADVISE
  • #621,611
  • Sep 6, 2021 12:10pm Sep 6, 2021 12:10pm
Price close below the LZ. Shows that the bears are in control.
Attached Image (click to enlarge)
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My telegram: https://t.me/avidforex
  • #621,612
  • Sep 6, 2021 12:13pm Sep 6, 2021 12:13pm
Quoting stevepatt
{quote} GBP/USD Pending Short Trade {image}

GBP/USD Short Trade triggered 1.38340

Target 1.37800

Stop 1.38640
Attached Image (click to enlarge)
Click to Enlarge Name: 6th Sept 21 GBP_USD Short Trade_20210906_18.07.png Size: 139 KB
  • #621,613
  • Edited 3:54pm Sep 6, 2021 12:18pm | Edited 3:54pm
Quoting donfriday
{quote} check out the count...of eu {image}
donfrida, from the moment Moses (Moty), led us out from the El Duce thread I don't trade EU. I took maybe 3-4 trades in this pair, but it seems valid at glance.
Check the link... https://www.forexfactory.com/thread/...7#post13695637
Always trade your own plan...I don't provide trading signals.
  • #621,614
  • Sep 6, 2021 12:21pm Sep 6, 2021 12:21pm
Quoting stevepatt
{quote} GBP/USD Short Trade triggered 1.38340 Target 1.37800 Stop 1.38640 {image}
Hi Steve,

Understand the structure is broken in 1HR and You have executed the trade on retest of 5M TF.

I have a question, 4HR Structure is still intact and forming a clear rejection candle on 4HR TF. Would that have a effect of price pushing towards on your TP area.

I am just trying learn here. It would be great to hear from you according to your Wyckoff strategy which I really like.

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD..H4.png Size: 17 KB
Fools Rushing
  • #621,615
  • Edited 12:50pm Sep 6, 2021 12:27pm | Edited 12:50pm
Time to start looking for longs

Daily is up , first attempt @ 3878 resistance (i should say structure break point)failed maybe a new attempt will be made

4H has been in corrective mode all day

1H is the internal structure of the correction and currently it looks like a fractal zigzag ie the second swing down is a fractal larger copy of the first.

However it really depends on how the price develops to the upside on whether a trade opportunity will occur

Edited to add pics

Attached Image (click to enlarge)
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Follow The Markets Structure - Patience and Discipline
  • #621,616
  • Sep 6, 2021 12:41pm Sep 6, 2021 12:41pm
Quoting MTF Test
{quote} Hi Steve, Understand the structure is broken in 1HR and You have executed the trade on retest of 5M TF. I have a question, 4HR Structure is still intact and forming a clear rejection candle on 4HR TF. Would that have a effect of price pushing towards on your TP area. I am just trying learn here. It would be great to hear from you according to your Wyckoff strategy which I really like. Thanks in advance. {image}
M5 is also bull BOS?
  • #621,617
  • Edited 1:21pm Sep 6, 2021 12:43pm | Edited 1:21pm
This is what elliott meant when he talked about the markets being fractal

5 wave fractal of wave 1 at larger degree


Attached Image (click to enlarge)
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Follow The Markets Structure - Patience and Discipline
  • #621,618
  • Sep 6, 2021 12:44pm Sep 6, 2021 12:44pm
Quoting KevinZeng
{quote} M5 is also bull BOS?
Yes. It looks like it.
Fools Rushing
  • #621,619
  • Sep 6, 2021 12:53pm Sep 6, 2021 12:53pm
Quoting MTF Test
{quote} Hi Steve, Understand the structure is broken in 1HR and You have executed the trade on retest of 5M TF. I have a question, 4HR Structure is still intact and forming a clear rejection candle on 4HR TF. Would that have a effect of price pushing towards on your TP area. I am just trying learn here. It would be great to hear from you according to your Wyckoff strategy which I really like. Thanks in advance. {image}

Hi MTF,

I might well be wrong in going Short were I did

Any Trade we take we have to be prepared to take the Loss and be WRONG

The H4 Chart below shows what I am seeing

I don't use Wyckoff I mainly look at Structure across Higher and Lower TFs and hopefully find Zones of Interest to take Trades
Attached Image (click to enlarge)
Click to Enlarge Name: 6th Sept 21 GBP_USD H4 Observations_20210906_18.32.png Size: 76 KB
  • #621,620
  • Sep 6, 2021 12:58pm Sep 6, 2021 12:58pm
Quoting stevepatt
{quote} Hi MTF, I might well be wrong in going Short were I did Any Trade we take we have to be prepared to take the Loss and be WRONG The H4 Chart below shows what I am seeing I don't use Wyckoff I mainly look at Structure across Higher and Lower TFs and hopefully find Zones of Interest to take Trades {image}
Hey!

Fair enough.

It's not to find your right or wrong. Just wanted to understand your perspective. Even I use structure and structure only. Combining with Fib. May be your right, Fib 61.8 draws on you TP level. let's hope not to end up with doji on 4H close.

Cheers !
Fools Rushing
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