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Cable Update (GBPUSD)

  • #751,901
  • Jun 14, 2023 9:57pm Jun 14, 2023 9:57pm
Quoting Fardeen1209
{quote} That one way of seeing it. But i saw it as compounding
i wont even say how much i am up this week...UNBELIEVABLE!!!
  • #751,902
  • Jun 14, 2023 10:04pm Jun 14, 2023 10:04pm
Quoting ninner
{quote} i wont even say how much i am up this week...UNBELIEVABLE!!!
Ahhahahhaha, you're back. Hi, can I challenge you to a trading contest? Please?
  • #751,903
  • Jun 14, 2023 10:16pm Jun 14, 2023 10:16pm
Quoting Fardeen1209
{quote} That one way of seeing it. But i saw it as compounding
Er...what I did was compounding...what that fella did was not compounding/simple/linear.
  • #751,904
  • Jun 14, 2023 10:33pm Jun 14, 2023 10:33pm
Quoting FxSnapper
{quote} Er...what I did was compounding...what that fella did was not compounding/simple/linear.
The truth behind Traders lose money more than necessary, is in fact they dont understand the Effect of Compounding takes time to see.
They risk more than necessary for a small win
More time in the market, does not mean you trade better!
  • #751,905
  • Jun 14, 2023 10:41pm Jun 14, 2023 10:41pm
Near perfect pa, Atleast no continuous unconditional bull at this top yet, now a last leg up to limit 2652, over 49 (then below it correct) ,or 57/73+ if standard possible, still chances it run amoke to new bull as done many times defying any rules, so may even again! now pa to just break 2624 down while go against, towards new bull!! Long in the scalping, sl 2726 to see! Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #751,906
  • Jun 14, 2023 10:52pm Jun 14, 2023 10:52pm
Quoting OBsayMkMoney
{quote} ummmmm.... I could be wrong, but this is what i see.... {image}
The most challenging part in EW is which will be our Starting Point.
Counting the wave is easy, we just need to look to the fractal nature(used this criteria to count my wave), but what criteria will we use to mark a level as "Wave 0".
More time in the market, does not mean you trade better!
  • #751,907
  • Jun 14, 2023 10:55pm Jun 14, 2023 10:55pm
Quoting FxSnapper
{quote} Ahhahahhaha, you're back. Hi, can I challenge you to a trading contest? Please?
Hey Snapper, you would kick my arse...you snapper you!!!! You and Chiko!!!! LOL
  • #751,908
  • Jun 14, 2023 10:57pm Jun 14, 2023 10:57pm
Quoting Fardeen1209
{quote} The most challenging part in EW is which will be our Starting Point. Counting the wave is easy, we just need to look to the fractal nature(used this criteria to count my wave), but what criteria will we use to mark a level as "Wave 0".
Fardeen, to show I am really a good guy.....i will help you out.....there is a very simple way to narrow it down where you are if you think about???????
  • #751,909
  • Jun 14, 2023 10:59pm Jun 14, 2023 10:59pm
this cable is resilent!!! hahahaha
  • #751,910
  • Jun 14, 2023 11:04pm Jun 14, 2023 11:04pm
off topic, the yen pairs are monsters tonight....i had to go long usdjpy!!!
  • #751,911
  • Jun 14, 2023 11:16pm Jun 14, 2023 11:16pm
Quoting Fardeen1209
{quote} The most challenging part in EW is which will be our Starting Point. Counting the wave is easy, we just need to look to the fractal nature(used this criteria to count my wave), but what criteria will we use to mark a level as "Wave 0".
I think that the root of the problem is trying to shoehorn a pattern into a fixed set of timeframes when the fractals do not necessarily occur on those timeframes. The pattern for a developing fractal is actually happening on a timeframe that is not being used. For example, you look at M30 for 5 subwaves of a higher degree impulse wave, but the price isn't fitting any reasonable count. It's because the subwave is not being built on the M30 slice but it is built on an even smaller slice, such as M22.
To free Gazans of Hamas, use whatever it takes.
  • #751,912
  • Jun 14, 2023 11:20pm Jun 14, 2023 11:20pm
Quoting Yngwie
Long 1.2640 SL 1.2620
Close BE 1.2675 Bearish pressure atm
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #751,913
  • Jun 14, 2023 11:28pm Jun 14, 2023 11:28pm
Quoting Pat Chiko
{quote} Thanks for your marked up chart Sir, I appreciate the time and effort you put into creating your chart. It is clear that you have a deep understanding of Elliott wave and technical analysis. I am grateful that you are willing to share your knowledge with others. I am still learning about Elliott wave, and your chart has been very helpful. I especially appreciate the way you have marked up the LQ/FVG zone and the Elliott wave count. This is a great way to start incorporating Elliott wave into my Price Action Trading (PAT) system. Further,...
GU

TWO zone with high probability for price to bouncer from at LO.
Marked zone in two charts.


Zoom In showing high probabale bounce zone
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Zoom Out with target
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No need to write long story, all in the chart, any comment welcome.
Troll will be shot on the spot.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #751,914
  • Jun 14, 2023 11:32pm Jun 14, 2023 11:32pm
Quoting ninner
{quote} Fardeen, to show I am really a good guy.....i will help you out.....there is a very simple way to narrow it down where you are if you think about???????
You answer my question with another question

But answering to your question, we had an accumulation at 1.2306 to1.2380.
Then first push up to 1.2533 on Jun 01.
Mr Eyefeelsix (mentioning him here because he gives the best Wave count, and i usually compare my wave count with him, the wave master) marked his Wave 0 at first time back (retest) to that Accumulation Zone.
Which makes sense, cause that why i learn EW, to get an idea how the Trend will develop after an accumulation or distribution phases. (since Mr Wyckoff has not set rule for the number of waves in his work and originally was developed based on stock market- limited number of shares)

On the bigger picture, we can also see we just complete Wave 3, now going to Wave 4
More time in the market, does not mean you trade better!
  • #751,915
  • Jun 14, 2023 11:34pm Jun 14, 2023 11:34pm
Quoting DrDave
{quote} I think that the root of the problem is trying to shoehorn a pattern into a fixed set of timeframes when the fractals do not necessarily occur on those timeframes. The pattern for a developing fractal is actually happening on a timeframe that is not being used. For example, you look at M30 for 5 subwaves of a higher degree impulse wave, but the price isn't fitting any reasonable count. It's because the subwave is not being built on the M30 slice but it is built on an even smaller slice, such as M22.
I think thats why technical analysis is subjective, and each one of us will come to difference conclusion on the same chart, same timeframe.
Using the different timeframe to look for subwaves, is not a good idea. Because on each time frame, a different story will appear.
The subwaves within the bigger waves, we need to look for it in the same timeframe we are counting our "bigger waves". Thats the only way i see, it makes sense using EW
More time in the market, does not mean you trade better!
  • #751,916
  • Edited Jun 15, 2023 2:41am Jun 14, 2023 11:36pm | Edited Jun 15, 2023 2:41am
Current Rate : 1.26355

Today i have on my chart Fibonacci Tool. I am not a pro ( trading just under 1 year ). How ever my friends think i really look cool when i use the Fibonacci tool.

I have marked some important support areas on the chart which i am looking into when my trading time : 14:56 PM GMT Arrive.

Today is Thursday = Bella's God of Thunder Day .

Fibonacci Chart.

Attached Image (click to enlarge)
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Bella's GMT Switch v1.5
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Goddess of Thunder..
  • #751,917
  • Jun 14, 2023 11:42pm Jun 14, 2023 11:42pm
Quoting Fardeen1209
{quote} I think thats why technical analysis is subjective, and each one of us will come to difference conclusion on the same chart, same timeframe. Using the different timeframe to look for subwaves, is not a good idea. Because on each time frame, a different story will appear. The subwaves within the bigger waves, we need to look for it in the same timeframe we are counting our "bigger waves". Thats the only way i see, it makes sense using EW
It would be very interesting to have an indicator that gave us the actual harmonics of an item you want to trade instead of having to compare it to a standard that it may or might not be following.
  • #751,918
  • Jun 14, 2023 11:44pm Jun 14, 2023 11:44pm
Quoting Pat Chiko
{quote} GU TWO zone with high probability for price to bouncer from at LO. Marked zone in two charts. Zoom In showing high probabale bounce zone{image} Zoom Out with target{image} No need to write long story, all in the chart, any comment welcome. Troll will be shot on the spot.

GU

Micro View:
Knowing the Market Maker's Game Plan

To get a precise N3, we may have to wait for those two LQs to get tested.
Sometimes, the market maker (MM) will take up a shallow LQ and push the price higher.

If we are not in, the price may blast off without our order.
However, if the MM wants to go for a deeper LQ, we may end up with a larger drawdown.
Attached Image (click to enlarge)
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In conclusion, whatever the setup may be, it is important for a trader to manage risk and trade with an amount that can sustain the drawdown.

Effective Account Management
Taking acceptable risks and controlling their drawdowns.

Acceptable Risk
Every trader has a different risk tolerance. Some traders are comfortable taking on more risk, while others prefer to take on less risk.
It is important to find a risk level that you are comfortable with and that fits your trading style.

Drawdown
Control drawdown so that it does not get too large.
If drawdown gets too large, it can wipe you our from the surface of this planet.

Long-Term Success
Protect profits and avoid large losses.

That's my newbie view only.

Chiko
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #751,919
  • Jun 14, 2023 11:44pm Jun 14, 2023 11:44pm
Quoting Robinhood1
{quote} Eurjpy long. Current target: 160.85 and rising.
Eurjpy long. Current target: 161.25 and rising..
We'll have a few of these and then ciao, ciao bambino
POSTMASTER
  • #751,920
  • Jun 14, 2023 11:48pm Jun 14, 2023 11:48pm
Quoting Robinhood1
{quote} Eurjpy long. Current target: 161.25 and rising.. We'll have a few of these and then ciao, ciao bambino
How about cadjpy and audjpy when the time allows it
POSTMASTER
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