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Cable Update (GBPUSD)

  • #744,761
  • May 9, 2023 5:34am May 9, 2023 5:34am
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be a thinker before being a reacter
  • #744,762
  • May 9, 2023 5:44am May 9, 2023 5:44am
Quoting dantpm
The W or inverse H&S is almost complete in the USDX, it will be interesting to see if this has any implications for Cable and so on. {image}
USDX possibly to go higher
US CPI 5.0% consensus while FED now casting 5.2%
while core 5.5% estimated, nowcasting 5.6%

GDP QoQ nowcasting is +ve for q2 at 2.7%

Another 25bps hike will move the market priced in from 14% to ~90% (cme-fedwatch) for next FOMC
More time in the market, does not mean you trade better!
  • #744,763
  • May 9, 2023 5:53am May 9, 2023 5:53am
Quoting dantpm
The W or inverse H&S is almost complete in the USDX, it will be interesting to see if this has any implications for Cable and so on. {image}
There is no inverse H&S there.
  • #744,764
  • May 9, 2023 6:23am May 9, 2023 6:23am
https://www.msn.com/en-us/news/polit...ns/ar-AA1aWm4J
You have an IQ lower than 90 if you interact with this user.
  • #744,765
  • May 9, 2023 6:29am May 9, 2023 6:29am
Quoting CryptoMavs
{quote} There is no inverse H&S there.
zoom out
More time in the market, does not mean you trade better!
  • #744,766
  • May 9, 2023 6:36am May 9, 2023 6:36am
Quoting Fardeen1209
{image} Did I mark the Choch Correctly? The Retest after an opposite BOS [in this case LL on the internal Structure(1hr timeframe)] of the prior trend
From what i've learnt from EW ABC retracement
Is we have 2 types of Corrective waves.
3-3-5 or 5-3-5

3-3-5
Wave A 3 subwaves - Wave B 3subwaves - Wave C 5 subwaves
or
I guess you understand what 5-3-5 is really about.

In todays case, it is a 5-3-5
Gonna see whether the 5 subwaves will form the Wave C and mini Wave 3 is forming rn

That more that enough to learn from EW
Anything else, in 2 weeks i wont remember it
More time in the market, does not mean you trade better!
  • #744,767
  • May 9, 2023 6:41am May 9, 2023 6:41am
Quoting Fardeen1209
{quote} From what i've learnt from EW ABC retracement Is we have 2 types of Corrective retracement. 3-3-5 or 5-3-5 3-3-5 Wave A 3 subwaves - Wave B 3subwaves - Wave C 5 subwaves or I guess you understand what 5-3-5 is really about. In todays case, it is a 5-3-5 Gonna see whether the 5 subwaves will form the Wave C and mini Wave 3 is forming rn That more that enough to learn from EW Anything else, in 2 weeks i wont remember it
Every TF have different count, this is very complicated to follow corrective waves, it can blow your mind.
the best way to work with EW is to understand that you are on the beginning of an impulse wave
sometimes corrective wave become impulse wave, keep following the waves, i hope you will stay alive
  • #744,768
  • May 9, 2023 6:49am May 9, 2023 6:49am
Quoting Whale
{quote} Every TF have different count, this is very complicated to follow corrective waves, it can blow your mind. the best way to work with EW is to understand that you are on the beginning of an impulse wave sometimes corrective wave become impulse wave, keep following the waves, i hope you will stay alive
Yup, experienced that yesterday, when i placed my 1-5 impulsive waves on 1hr, it appears good but when i go to 30mins timeframe, it was a whole different story.
Thanks for advice sir, cause that corrective wave is no longer a retracement but a new swing move. Will always keep it in mind
More time in the market, does not mean you trade better!
  • #744,769
  • May 9, 2023 6:50am May 9, 2023 6:50am
Drop like a stone
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yes yes yes
  • #744,770
  • May 9, 2023 6:50am May 9, 2023 6:50am
Quoting Fardeen1209
{quote} Yup, experienced that yesterday, when i placed my 1-5 impulsive waves on 1hr, it appears good but when i go to 30mins timeframe, it was a whole different story. Thanks for advice sir, cause that corrective wave is no longer a retracement but a new swing move. Will always keep it in mind
http://www.tradingfives.com/articles...wave-guide.htm

use this table, very helpful.
  • #744,771
  • May 9, 2023 6:59am May 9, 2023 6:59am
Quoting Moty
Drop like a stone {image}
Feeling like a balloon filled with helium gas right now.
  • #744,772
  • May 9, 2023 7:07am May 9, 2023 7:07am
When are they having this debt ceiling meeting, and when is the press conference?
You have an IQ lower than 90 if you interact with this user.
  • #744,773
  • May 9, 2023 7:11am May 9, 2023 7:11am
Very possible downtrend forming at H1. Structure broke already.
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  • #744,774
  • May 9, 2023 7:18am May 9, 2023 7:18am
Quoting Pat Chiko
{quote} GU Break Stop Zone (BSZ) trapper buyer by inducing to long at EQL. Finding more LQ below, before the real pumping come on Thurs or Friday. ( See Calender to know more) {image}

GU

Partial TP
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #744,775
  • May 9, 2023 7:27am May 9, 2023 7:27am
Price is right at fair value. Trade carefully today. Still long
be a thinker before being a reacter
  • #744,776
  • May 9, 2023 7:32am May 9, 2023 7:32am
Quoting boodvah
Price is right at fair value. Trade carefully today. Still long
In my opinion it is going to 1.2490s, i might be wrong. still learning
  • #744,777
  • May 9, 2023 7:33am May 9, 2023 7:33am
Told you Mr Guru I will get you...2 down one to Go
average dude treading water
  • #744,778
  • May 9, 2023 7:40am May 9, 2023 7:40am
Quoting eyefeelsix
{quote} plans come to me, in the zone to add long atm {image}
my Cable in progress..

still holding all my long entries until the blue line is broken lol #theartoftrading
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https://breakpullback.com
  • #744,779
  • May 9, 2023 7:51am May 9, 2023 7:51am
Quoting eyefeelsix
{quote} my Cable in progress.. still holding all my long entries until the blue line is broken lol #theartoftrading {image}
eyefeelsix, I got a full AB=CD pattern before a potential reversal in PRZ for a bullish Gartley pattern.
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Always trade your own plan...I don't provide trading signals.
  • #744,780
  • May 9, 2023 7:52am May 9, 2023 7:52am
Quoting Moty
Drop like a stone {image}
My Friend, where is your Big HAMMER.......
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