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Cable Update (GBPUSD)

  • #763,381
  • Aug 2, 2023 8:45am Aug 2, 2023 8:45am
1M TF play

**Do not recommend even to try

MTF - TEST
Attached Image (click to enlarge)
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Fools Rushing
  • #763,382
  • Aug 2, 2023 8:46am Aug 2, 2023 8:46am
Quoting tradexyz
{quote} Well gbpusd bounce of PW low i see more downside....fwiw... target 1.2700 - 1.2680...trade well ink it... solutions galore...
Attached Image (click to enlarge)
Click to Enlarge Name: bandicam 2023-08-02 06-45-12-465.png Size: 49 KB

Cam Levels
GBPUSD
Brk Out Long1.28292
Short1.28025
HL21.27936
HL11.27847
LL11.27669
LL21.27580
Long11.27491
Brk Out Short1.27225
  • #763,383
  • Aug 2, 2023 8:47am Aug 2, 2023 8:47am
12680 as areas of possible reaction..
Insane in the Brain..
  • #763,384
  • Aug 2, 2023 8:48am Aug 2, 2023 8:48am
Quoting pipfarm
It is possible to get some extremely small stops with high reward by following the 3 timeframe rule , so long as you identify the direction of the highest tf your using and dips and rallies are key to knowing where you are in a swing and at the end of the day we can only trade one swing at a time having said that if your greedy you could trade the corrections within a swing too.
Another reason to use 3 tfs is to find the top of the dip or rally that you want to enter from , so we watch the reaction once we have the assumed top , does it start to move down and micro trend after a rally and vice versa if you trading from a dip on your highest tf
Follow The Markets Structure - Patience and Discipline
  • #763,385
  • Aug 2, 2023 8:54am Aug 2, 2023 8:54am
Quoting Coreg2004
{quote} Almost there... {image}
Hey Buds ! I seriously want to learn from you. Elliot waves or whatever you do. I want to be a master like you. Tell me how ??? I'd pay for a programme of course if its you who is teaching.
Fools Rushing
  • #763,386
  • Aug 2, 2023 8:55am Aug 2, 2023 8:55am
Quoting MTF Test
1M TF play **Do not recommend even to try MTF - TEST {image}
test busted
Fools Rushing
  • #763,387
  • Aug 2, 2023 8:57am Aug 2, 2023 8:57am
Quoting Pat Chiko
GU Open position Mixed. Todays plan.{image}
Your trajectory worked out very well PAT.
Good job!
  • #763,388
  • Aug 2, 2023 9:01am Aug 2, 2023 9:01am
Gold did not appear to 'respect' the US$ / GU move this AM. Is that a sign of the pump that will follow this dump?
  • #763,389
  • Aug 2, 2023 9:01am Aug 2, 2023 9:01am
Price approaching 1.26 major quarter level. Might be a turning point for the pound back to the upside. If it breaks uhmm!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2023-08-02_09-56-25.png Size: 22 KB
  • #763,390
  • Aug 2, 2023 9:02am Aug 2, 2023 9:02am
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  • #763,391
  • Aug 2, 2023 9:02am Aug 2, 2023 9:02am
Could be a nice short on this GBPCAD If the last swing down starts to trend, trade comes from daily down wave with a correction moving through H4 making a 5 wave corrective pattern down to H1 for the entry, slightly more complicated trade because the D1 correction was slightly complex.
Everyone of those swings subdivided into 3s


Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADH1.png Size: 49 KB
Follow The Markets Structure - Patience and Discipline
  • #763,392
  • Aug 2, 2023 9:02am Aug 2, 2023 9:02am
Quoting dantpm
Gold did not appear to 'respect' the US$ / GU move this AM. Is that a sign of the pump that will follow this dump?
hope so! Looking for 12840 for b/e
Insane in the Brain..
  • #763,393
  • Aug 2, 2023 9:07am Aug 2, 2023 9:07am
done! what a day.. the GU going further down from my TP
be thankful for it.. may you guys stay in good results..
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  • #763,394
  • Aug 2, 2023 9:11am Aug 2, 2023 9:11am
ABCDD
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  • #763,395
  • Aug 2, 2023 9:13am Aug 2, 2023 9:13am
H4 last small rally gave a perfect entry on H15 where the top of the H4 rally was to be found

a 23 pip risk for nearly 100 reward, 5-1 not bad
Follow The Markets Structure - Patience and Discipline
  • #763,396
  • Aug 2, 2023 9:17am Aug 2, 2023 9:17am
Quoting Scotteyy
{quote} Just shorted GBP/USD at 12782, SL 12802, TP 12702. For me this move needs to happen today or the bears may be in trouble longer term.
Target hit, will wait for retrace to continue shorts.
  • #763,397
  • Aug 2, 2023 9:19am Aug 2, 2023 9:19am
Quoting Vincent1
Maybe a good pattern on H1...maybe {image}


One more try
Attached Image (click to enlarge)
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  • #763,398
  • Aug 2, 2023 9:26am Aug 2, 2023 9:26am
I think EUR/USD trade has finally hit 1.st TP, which means other trade's SL is going to 0 at break even. If it runs, it runs.
  • #763,399
  • Aug 2, 2023 9:27am Aug 2, 2023 9:27am
Quoting Scotteyy
{quote} Target hit, will wait for retrace to continue shorts.
You are doing 4:1 reward to risk ratio or?
  • #763,400
  • Aug 2, 2023 9:28am Aug 2, 2023 9:28am
My attempt at an Elliott Wave analysis.

The end of wave C is approaching, if I'm somewhat close to being accurate. Coincidentally EUR/USD is in a similar situation.

Waiting for longs.

GBP/USD 4H
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_4H.png Size: 17 KB


EUR/USD 4H
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_4H.png Size: 17 KB


Anyone who has extensive experience with Elliott Wave is welcome to give feedback.
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