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Cable Update (GBPUSD)

  • #621,621
  • Edited 1:27pm Sep 6, 2021 1:12pm | Edited 1:27pm
This is the current fractal structure in operation,

all 3 wave 2s have retraced around the fibo 38.2 ratio

a 61.8 expansion similar to the other 2 wave 3s will take us to 3900 then crash below the wave 2 and that will complete a 5 wave cycle

Attached Image (click to enlarge)
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Follow The Markets Structure - Patience and Discipline
  • #621,622
  • Sep 6, 2021 1:34pm Sep 6, 2021 1:34pm
Why has the spreed widen this much....
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  • #621,623
  • Sep 6, 2021 1:37pm Sep 6, 2021 1:37pm
Quoting wembe
Why has the spreed widen this much....{image}
First, there are hundreds of brokers...saying that "spread is too high" is like saying "why is a blue car so slow".

Second, you are on a micro account...spread is always much higher there compared to regular accounts.
Everyone can see the chart, but only a few can actually read it.
  • #621,624
  • Sep 6, 2021 1:38pm Sep 6, 2021 1:38pm
Quoting wembe
Why has the spreed widen this much....{image}
It's because of the Low Volume due to holiday in US.
Fools Rushing
  • #621,625
  • Sep 6, 2021 1:47pm Sep 6, 2021 1:47pm
Quoting OnlineAddict
{quote} First, there are hundreds of brokers...saying that "spread is too high" is like saying "why is a blue car so slow". Second, you are on a micro account...spread is always much higher there compared to regular accounts.
I have traded micro account for over 6 yrs this is abnormal...but thanks for your insight
  • #621,626
  • Sep 6, 2021 1:48pm Sep 6, 2021 1:48pm
Quoting MTF Test
{quote} It's because of the Low Volume due to holiday in US.
Thanks had forgotten that...
  • #621,627
  • Sep 6, 2021 1:51pm Sep 6, 2021 1:51pm
so on the 4H im seeing a limited rise up. This could be due to the lack of volume today however as George and Jay have mentioned many a times there is a huge drop pending...
Attached Image (click to enlarge)
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Insane in the Brain..
  • #621,628
  • Sep 6, 2021 1:51pm Sep 6, 2021 1:51pm
All in all the trend is to the upside on the short term, say for a a couple more days or so. But generally price is a downtrend (D1 TF) , just price retracing to retest that 1.40000 level (1.40060 to be exact), previous support now resistance (D1 TF). Which makes price look as though it starting a big uptrend. It is just a short term uptrend.
  • #621,629
  • Sep 6, 2021 1:54pm Sep 6, 2021 1:54pm
Quoting BeeTogether
so on the 4H im seeing a limited rise up. This could be due to the lack of volume today however as George and Jay have mentioned many a times there is a huge drop pending... {image}
incase you have forgotten. When you press the camera button. you can retrieve a better image of the chart to post it on ff. Hope this helps.

Cheers !
Fools Rushing
  • #621,630
  • Sep 6, 2021 1:58pm Sep 6, 2021 1:58pm
Quoting MTF Test
{quote} incase you have forgotten. When you press the camera button. you can retrieve a better image of the chart to post it on ff. Hope this helps. Cheers !
doh!!! cheers bud
Insane in the Brain..
  • #621,631
  • Sep 6, 2021 2:10pm Sep 6, 2021 2:10pm
Quoting kk300
hi all... trade taken.. ignore the colors if bothering.. lol {image}
I like it. Is that Picasso?
By the way, I am long too.
  • #621,632
  • Sep 6, 2021 2:25pm Sep 6, 2021 2:25pm
Quoting Coreg2004
{quote} donfrida, from the moment Moses (Moty), lead 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

i think EU is starting a wave 3 ...
MY OPINION NOT FINANCIAL ADVISE
  • #621,633
  • Edited 3:19pm Sep 6, 2021 2:38pm | Edited 3:19pm
This is the current fractal pattern for EURUSD ie the second and third fractal structures are copies of the first at varying degrees meaning sizes, they can be bigger or smaller than the first

all wave 4s retraced to or just below the 38.2 fibo

fractal 2 expanded 100% of fractal 1 if fractal 3 expands to 100% of fractal 2 that means either swing top failure or slight push through the 1908 level which is the structure break point



Attached Image (click to enlarge)
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Follow The Markets Structure - Patience and Discipline
  • #621,634
  • Sep 6, 2021 2:51pm Sep 6, 2021 2:51pm
Quoting wembe
Why has the spreed widen this much....{image}

LIQUIDITY
MY OPINION NOT FINANCIAL ADVISE
  • #621,635
  • Sep 6, 2021 2:52pm Sep 6, 2021 2:52pm
gu
Attached Image (click to enlarge)
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MY OPINION NOT FINANCIAL ADVISE
  • #621,636
  • Sep 6, 2021 3:47pm Sep 6, 2021 3:47pm
Here is the fractal set for GU from the prior daily down move

notice how set 2 and 3 are copies of set 1 but on a different fractal scale exactly as described within the Mandelbrot set , self similarity at different scales

Chaos theory states that within the apparent randomness of chaotic complex systems, there are underlying patterns, interconnectedness, constant feedback loops, repetition, self similarity, fractals, and self organisation

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Attached Image
Follow The Markets Structure - Patience and Discipline
  • #621,637
  • Sep 6, 2021 3:48pm Sep 6, 2021 3:48pm
Quoting donfriday
{quote} i think EU is starting a wave 3 ...
donfriday, too early (I can always be wrong) we don't have timing for completion of W:2, and usually 38.2% retracement is associated with wave (a) of W:2...check this out.
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Attached Image
Always trade your own plan...I don't provide trading signals.
  • #621,638
  • Edited 4:43pm Sep 6, 2021 4:16pm | Edited 4:43pm
...friday's/last week's 3892 hi confirmed as a fractal HH on the dly t/f after 2 x HL's now. Ostensibly trending up on this t/f but still within the 4001-3572 range?

* Prev 1hr/4hr sw lo zone now a prev 1hr/4hr x 2 sw lo zone down to 3717 provided the demand at y/day's 3818 lo.

* 1hr trending down now, 4hr has printed a L below the last HL in it's uptrend,

* Still eyeing that aforementioned 3808-3766 area for potential demand should price drop more.

* Next 3 fib clusters to the downside 3814-10 then 3785-80, (of major swing lo's from and incl 3602, to 3892.)

* 50pip range y/day brings 30day adr down again another pip, to 76 now.

Dly then 1hr below.
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Trader with an Edge.
  • #621,639
  • Sep 6, 2021 4:21pm Sep 6, 2021 4:21pm
my idea if blue buy, green selll
Attached Image (click to enlarge)
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  • #621,640
  • Sep 6, 2021 5:19pm Sep 6, 2021 5:19pm
Quoting Pat Chiko
{quote} GU Starting to range ? {image}
Hi Pat Chiko,
I have been learning from all your trades and thank you for sharing your idea behind why you take trades. It has been really helpful. I just wanna ask some newbie questions related to the trade that you just took. I understand why you took the buy trade but my question is- there is a tiny dotted line at 1.3850 that you drew which I thought was a 4 hour resistance level as well as psycho level. Why did you not take this sell trade? What do you do when you are trapped between a good support level as well as resistance level? Did you choose buy side because the price is an intermediate uptrend and the probability is to the buy side? Is it better to have a bias and stick to it religiously? These questions came up in my head because often I always find myself in a dilemma like this. I was gonna take the same buy trade but then I saw that the 4 hr resistance was up there as well and thought there wasn't enough room for profit. Could you clarify Mr. Pat Chiko thank you
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