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Cable Update (GBPUSD)

  • #767,181
  • Aug 15, 2023 1:54am Aug 15, 2023 1:54am
Quoting dantpm
The news is not great for the UK economy. Wage inflation suggests another rate increase, rising unemployment suggests less of a hike. Higher rates should support higher GU prices. Now where is price going?
  • #767,182
  • Aug 15, 2023 1:55am Aug 15, 2023 1:55am
Quoting Moty
{quote} Давай, вчера я снял 500$ после того, как превратил 360$ в 1100$ {image}
Great work, especially when it makes a profit, the margin is small, keep an eye on it, it can quickly end at the most inopportune moment!
  • #767,183
  • Aug 15, 2023 1:56am Aug 15, 2023 1:56am
Quoting TheWraith
{quote} It's near near the tops, not at the top, but not too far from. I just checked S&P, Nasdaq, Dow... they all look extremely bullish on my charts. Extremely! Forget recession for this year! Maybe second half of 2024. but even that isn't certain.
I think the American indices could go either way. They could crash too.

But if they do crash it will make EU and GU crash even harder.
Trade at your own risk.
  • #767,184
  • Aug 15, 2023 2:00am Aug 15, 2023 2:00am
Quoting Fx3423454
{quote} I think the American indices could go either way. They could crash too. But if they do crash it will make EU and GU crash even harder.
That is true, but I have nothing but bullish signals all over the place. We'll see what will happen is September of this year, if September closes peacefully, then I wouldn't worry about the crash at least this year.

(3) March 2022. Fed started hiking rates
(6) June 2023. Fed started to skip/pause
(9) September 2024. Fed started to cut rates
  • #767,185
  • Aug 15, 2023 2:11am Aug 15, 2023 2:11am
G/M, upside follow thru so far today on y/day's p[inbar dly candle despite the Uk data earlier. Y/day's lo just below that 2620 4hr/dly swing, a few tight long positions stops triggered there? Price has made a new current dly hi above the Asian hi, and the Asian/current dly lo remains untouched so far.

Price is currently challenging a prev 1hr sw h zone coexistent with a prev 1hr/4hr sw hi zone that extends to 2738/39, with pot 1hr/4hr rbs immediately below it.

1hr below
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Trader with an Edge.
  • #767,186
  • Aug 15, 2023 2:13am Aug 15, 2023 2:13am
Quoting Ferna
{quote} A good guy and trader with very interesting perspectives
POSTMASTER
  • #767,187
  • Aug 15, 2023 2:23am Aug 15, 2023 2:23am
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yes yes yes
  • #767,188
  • Aug 15, 2023 2:27am Aug 15, 2023 2:27am
GBPUSD

As per my previous post we are now fully in H4 correction swing C, overall it is the 2nd swing of D1 down move

There may be some more upside to come as C does not look complete , prepare to short if we get the right entry signal.

Looking at the internal structure of the correction H1/H15 C has three swings so maybe another small push up

Attached Image (click to enlarge)
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Follow The Markets Structure - Patience and Discipline
  • #767,189
  • Aug 15, 2023 2:28am Aug 15, 2023 2:28am
Quoting Moty
{quote} Come on Yesterday i withdraed 500 $ after i turned 360 $ into 1100 $ {image}

Nice one
  • #767,190
  • Aug 15, 2023 2:29am Aug 15, 2023 2:29am
gu is still 70 odd pips above the daily LT equilibrium point.
  • #767,191
  • Aug 15, 2023 2:31am Aug 15, 2023 2:31am
Lets see how far we can go,
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  • #767,192
  • Aug 15, 2023 2:31am Aug 15, 2023 2:31am
Quoting monaghan
Lets see how far we can go, {image}
NOT FAR
  • #767,193
  • Aug 15, 2023 2:31am Aug 15, 2023 2:31am
Quoting MIKKI
Pound will do its own thing in a bit then play catch-up to gold
Mmmmm
average dude treading water
  • #767,194
  • Aug 15, 2023 2:33am Aug 15, 2023 2:33am
Quoting ninner
{quote} NOT FAR
Well, as long as it goes far enough for me to make money, thats far enough
  • #767,195
  • Aug 15, 2023 2:35am Aug 15, 2023 2:35am
...updated after drop to top of a prev 1hr/minor 4hr sw lo zone

1hr below
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Trader with an Edge.
  • #767,196
  • Aug 15, 2023 2:41am Aug 15, 2023 2:41am
cmon bear i believe in youuu
  • #767,197
  • Aug 15, 2023 2:45am Aug 15, 2023 2:45am
Chance of retracing to around 1.2800 is greater than going south in my opinion.
POSTMASTER
  • #767,198
  • Aug 15, 2023 2:46am Aug 15, 2023 2:46am
... 4 x fibs in that prev 1hr/4hr sw hi zone that extends to 2738/39, 2 @ current dly hi...two just above too circa 2740 then 2742. The prev 1hr sw hi that extends to 2728 is coexistent with it and Dly R1 is top of it. So basically, potential res up to 2738/39 lol! Support found though @ the prev 1hr/minor 4hr sw lo zone that extends down to Asian/current dly lo after the drop.

4hr below (not all fibs mentioned shown on this chart.)
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Trader with an Edge.
  • #767,199
  • Aug 15, 2023 2:47am Aug 15, 2023 2:47am
A note about wave degrees


Wave degrees means that every timeframe chart has at least two degrees or size of swings because every timeframe contains the information from the higher.

Then there is degree of swing - which means that due to the fractal nature of markets each wave or swing makes copy swings of varying degree or size on the same timescale, some swings will have obvious impulse and corrections and some will not.
Follow The Markets Structure - Patience and Discipline
  • #767,200
  • Aug 15, 2023 2:52am Aug 15, 2023 2:52am
Quoting ninner
{quote} NOT FAR
20 pips, admittedly only just but that's enough for me today, on my chart was +15 pips when i posted, i don't see to many doing that to be honest
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