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Cable Update (GBPUSD)

  • #723,761
  • Jan 26, 2023 1:37pm Jan 26, 2023 1:37pm
Quoting karankeni
{quote} isnt this also a divergence? {image}
Another point is that i do not use divergence to determine if a swing will continue as i have seen traditional indicators show divergence all the while price is making eg HHs and HLs.

I found the best way to use it is to confirm the corrective patterns.
Follow The Markets Structure - Patience and Discipline
  • #723,762
  • Jan 26, 2023 1:38pm Jan 26, 2023 1:38pm
Quoting pipfarm
Classic example, look hard enough and you will find the answers {image}
Kindly post updated chart of GU
  • #723,763
  • Jan 26, 2023 1:39pm Jan 26, 2023 1:39pm
Malwarebytes (freeware) to the rescue again!
While browsing forexfactory I started getting these random notices to connect my PC to the internet. There was a reference to www.msftconnecttest.com/redirect.
It's a virus! Malwarebytes cleaned it.
  • #723,764
  • Jan 26, 2023 1:42pm Jan 26, 2023 1:42pm
Quoting pipfarm
{quote} Another point is that i do not use divergence to determine if a swing will continue as i have seen traditional indicators show divergence all the while price is making eg HHs and HLs. I found the best way to use it is to confirm the corrective patterns.
aye sire
  • #723,765
  • Jan 26, 2023 1:48pm Jan 26, 2023 1:48pm
All that bears power and it goes back up
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yes yes yes
  • #723,766
  • Jan 26, 2023 1:49pm Jan 26, 2023 1:49pm
Quoting kk300
{quote} Kindly post updated chart of GU
There is nothing to update, price came back to the zone i marked in my previous chart and went up, the only thing new is the last H1 higher low is that damn pattern again , once again not a higher low but a QM or wykoff, or exanding triangle pattern , MMs favourite head game
Follow The Markets Structure - Patience and Discipline
  • #723,767
  • Jan 26, 2023 2:02pm Jan 26, 2023 2:02pm
Quoting pipcenturion
{quote} Dr Dave, please what is your outlook for GU on H4 and above?
I think that you will find it controversial.

I still hold my views that I posted a while back that unless W1 makes a convincing close above 1.2450, everything from the swing high of 11 December is part of a developing down trend: I have the current upswing as a rally, not an uptrend continuation. If there is the convincing close above, then I simply move my view to the uptrend continuation.

But note that I view the MN1 as a rally in a bigger down trend that W1 is building. So I have an expectation that W1 will come further down in this (ill-behaved) pullback phase followed by a return back up to new highs that completes construction of the MN1 rally.

With W1 in an upswing, it is stopped only by the TFs below going into down trends. I view the D1 bars after the 18 January swing high as a down move that is an attempt to stop the W1 from going up. The upswing from the 24 January swing low is being built by the H8, and price stopped at a lower high today. The current H4 down swing is now a very important item: If it is strong enough to turn down H8 with it, it becomes more likely that the swing high made today will hold, and favors a bearish bias. If H8 cannot be turned down before H4 returns up, then it becomes more likely that price will continue up to break the 1.2450 swing high.

If H8 is to be stopped going up, TFs below it must go into down trends. Currently, I view H1, which is building the H4 down swing, as making a rally in a down swing: For the rally to be nullified, it would need to close above 1.2430. If the rally closes below 1.2430, then the ensuing return down continues to build the H4 down swing. Note that the fact that H4 is already in a down swing gives greater weight to H8 being stopped from continuing up than if H4 were still also in an upswing.
To free Gazans of Hamas, use whatever it takes.
  • #723,768
  • Jan 26, 2023 2:02pm Jan 26, 2023 2:02pm
Someone is constantly disliking my post "lol".. If only you know what I'M ABOUT!!!!!
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My telegram: https://t.me/avidforex
  • #723,769
  • Jan 26, 2023 2:05pm Jan 26, 2023 2:05pm
Decision time...hold 'em or fold 'em.
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Always trade your own plan...I don't provide trading signals.
  • #723,770
  • Jan 26, 2023 2:08pm Jan 26, 2023 2:08pm
Quoting pipfarm
{quote} Good thinking , also be aware the structures are not what they seem to be , when i started to realise that MMs are using the same pattern over and over things changed for me. It is a mind game.
MMs are using the same pattern over and over
More supporting evidence that the same basic algorithm is in action over-and-over again, no human needed.
To free Gazans of Hamas, use whatever it takes.
  • #723,771
  • Jan 26, 2023 2:09pm Jan 26, 2023 2:09pm
Quoting Pat Chiko
{quote} Always joking with him, just to bring smiles to all. When traders are happy , we all can think clearly. Howz everything down under mate ?.
alls good Pat warm weather nice day
people leave, but this thread will go on for ever
  • #723,772
  • Jan 26, 2023 2:12pm Jan 26, 2023 2:12pm
Quoting Coreg2004
Decision time...hold 'em or fold 'em. {image}
Tomorrow will be the FRYday for shorts.
  • #723,773
  • Jan 26, 2023 2:15pm Jan 26, 2023 2:15pm
Quoting Mitiblotch
{quote} Tomorrow will be the FRYday for shorts.
maybe fry-day for both… the other thing is we could see ranging due to big BoE data next week which might signal end of rate rises
Insane in the Brain..
  • #723,774
  • Edited 5:03pm Jan 26, 2023 2:25pm | Edited 5:03pm
Quoting Pat Chiko
{quote} I'm clean today. Need to be sober while at Ministry of Foreign Affair for some paper to process. You have a good chart, only me running around and didn't pick up the level you've marked. Next time , moment you share chart, I will punch in the number and set it up for alarm....
Pat, I'm long enough here to know whom I can joke with. This is a great thread. We have everything here comedy, drama, we have sarcasm and compassion. We have people who cry about thumbs-ups and don't give any $hit. You can find here great advice regardless of experience. ...This last trade of yours was like someone pressed the sell button for you, that's why I joked. No offense.
Always trade your own plan...I don't provide trading signals.
  • #723,775
  • Jan 26, 2023 2:28pm Jan 26, 2023 2:28pm
Tonight, we hold this. Tomorrow if I get the expected inflation data we close and flip to a possible sell for anticipation of the fed meeting next Wednesday. Let’s just see what happens
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Master your mind. Master Trading.
  • #723,776
  • Edited 5:30pm Jan 26, 2023 2:33pm | Edited 5:30pm
Quoting Mitiblotch
{quote} Tomorrow will be the FRYday for shorts.
Mitiblotch, that is what today's data suggests but the DX index might not cooperate.
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and the daily chart
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Always trade your own plan...I don't provide trading signals.
  • #723,777
  • Jan 26, 2023 2:47pm Jan 26, 2023 2:47pm
Quoting kk300
{quote} Kindly post updated chart of GU
just for you

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Follow The Markets Structure - Patience and Discipline
  • #723,778
  • Jan 26, 2023 2:50pm Jan 26, 2023 2:50pm
Quoting DrDave
{quote}I think that you will find it controversial. I still hold my views that I posted a while back that unless W1 makes a convincing close above 1.2450, everything from the swing high of 11 December is part of a developing down trend: I have the current upswing as a rally, not an uptrend continuation. If there is the convincing close above, then I simply move my view to the uptrend continuation. But note that I view the MN1 as a rally in a bigger down trend that W1 is building. So I have an expectation that W1 will come further down in this (ill-behaved)...
Thanks so much sir for explaining so extensively.

I am grateful sir.
  • #723,779
  • Edited 3:51pm Jan 26, 2023 3:05pm | Edited 3:51pm
Quoting Coreg2004
{quote} Mitiblotch, that is what today's data suggests but the DX index might not cooperate. {image}
All I just want tonight is for Asia to buy it. If they do I will add to the buy I am currently holding. I have looked everywhere and cannot see the short. 63% sellers, Wednesday buys held by NY and thereby paying hefty triple swap, liquidity waiting above the wicks at 2450. It is just too juicy. I trust that 2450 will break. That's my fallible opinion.
  • #723,780
  • Jan 26, 2023 3:42pm Jan 26, 2023 3:42pm
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EURCHF
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