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Cable Update (GBPUSD)

  • #767,381
  • Aug 15, 2023 11:55am Aug 15, 2023 11:55am
Highs off the day done and dusted, now a correction before tomorrow
Insane in the Brain..
  • #767,382
  • Aug 15, 2023 12:05pm Aug 15, 2023 12:05pm
Quoting Pat Chiko
{quote} GU Final Correction of 2C before the actual Waveskie 3 kicks in.{image}

GU

How it began 24 hours ago........
Attached Image (click to enlarge)
Click to Enlarge Name: gu 022.jpg Size: 157 KB


Where we are now.....
Attached Image (click to enlarge)
Click to Enlarge Name: gu 025.jpg Size: 251 KB
I come from the future.
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  • #767,383
  • Aug 15, 2023 12:12pm Aug 15, 2023 12:12pm
Quoting Fardeen1209
GU {image} Waiting for her to close above the 30mins Supply Zone @ 1.27 to valid this setup Dollar Index {image} Anyone see other setup? Any comments are welcomed
Where CPI tomorrow will be?

A consensus down from 7.9% to 6.7% Quite a big expectation down.

However, last MPC- BOE officials expect inflation rate to be around 7.0%.

Either way, if the figure is a little bit above consensus, i dont see it as a new upswing setter atm.
If GU was to go up, the big money would be on the long side and todays wage inflation movement would be tremendous, but it didnt.

Now, back to CPI, in terms of BOE rate both the OIS 2Year Yield and SONIA, edge a little bit higher, but not that extended move.

GU Structure down still intact and just touched the 4hr unmitigated Sz after inducement.

Both FA and TA are favouring the short-side,
More time in the market, does not mean you trade better!
  • #767,384
  • Aug 15, 2023 12:19pm Aug 15, 2023 12:19pm
Quoting Coreg2004
{quote} Pat, sorry for the late response. I lost all my analysis on DX (I have no idea how this happened). Yesterday, I tried to reconstruct it on DXY. Here is what I came up with. An ending diagonal can be 3-3-3-3-3. This is an art, not a science. Is wave (5) in place? The minimum was reached. {image}


Dollah Index


Thanks Goreg....

I'm new to this EW, but trying to drw and redraw the most suitable wave for dollah Index.
This is however agreeging with your edging diagonal patttern of possible becoming 3-3-3-3-3.
As I understand it correctly, is a corrective wave pattern that is found in the fifth wave of an impulse.

Typical characterized by a series of five waves that are all of equal length.
The first three waves (A-B-C) are corrective waves, while the last two waves (X-Y) are impulsive waves.
I still yet to figure out the last two X-Y...... Sorry I'm so dumb with this.

Note to the edging diagonals are often found in markets that are in a state of transition.
It is possiilbly, themarket is about to enter a new trend, or they can simply be a temporary correction within an existing trend.
Sound confusing, yes, I'm at this moment of Dollah Index.
Attached Image (click to enlarge)
Click to Enlarge Name: dollah index 002.jpg Size: 202 KB


Thanks for having a very good discussion on this with me ( a newbie)
appreciate you're making time for me.

Sincrelly.
PAT Chiko.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #767,385
  • Aug 15, 2023 12:21pm Aug 15, 2023 12:21pm
I see that GU has been trapping newbies/scalpers all day.

Just another day in the office.
Trade at your own risk.
  • #767,386
  • Aug 15, 2023 12:21pm Aug 15, 2023 12:21pm
Quoting T721
{quote} {image}
If this is Wave 3, then it is going to flood my bedroom............
Attached Image (click to enlarge)
Click to Enlarge Name: bed money.jpg Size: 35 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #767,387
  • Aug 15, 2023 12:21pm Aug 15, 2023 12:21pm
SMC baby!!!!
  • #767,388
  • Aug 15, 2023 12:22pm Aug 15, 2023 12:22pm
Quoting pipfarm
{quote} In that case i do not see the point of monitoring all the lower timeframes. Thanks for your explanation Looks like GU is falling away from that D1 push into W1
Because depending on exactly what is happening on the smaller TFs, there could be more continuation entries when the progression of the retracement fails on a TF.
To free Gazans of Hamas, use whatever it takes.
  • #767,389
  • Aug 15, 2023 12:22pm Aug 15, 2023 12:22pm
what do people think will happen to the pound tomorrow on CPI? I can't work it out!
  • #767,390
  • Aug 15, 2023 12:26pm Aug 15, 2023 12:26pm
Quoting Pat Chiko
{quote} Dollah Index Thanks Goreg.... I'm new to this EW, but trying to drw and redraw the most suitable wave for dollah Index. This is however agreeging with your edging diagonal patttern of possible becoming 3-3-3-3-3. As I understand it correctly, is a corrective wave pattern that is found in the fifth wave of an impulse. Typical characterized by a series of five waves that are all of equal length. The first three waves (A-B-C) are corrective waves, while the last two waves (X-Y) are impulsive waves. I still yet to figure out the last two X-Y.........
Bro, regarding the daily Dollar index, do you see the range as a wyckoff re-accumulation after a correction?
More time in the market, does not mean you trade better!
  • #767,391
  • Aug 15, 2023 12:32pm Aug 15, 2023 12:32pm
Quoting Whale
SMC baby!!!!
SMC worked but it needs to be combined by other TA like any other Technical tools.
What you said?
More time in the market, does not mean you trade better!
  • #767,392
  • Aug 15, 2023 12:36pm Aug 15, 2023 12:36pm
Quoting Wavegarrick
{quote} And my weekly pivot at 1.27238 it is. Cheers. {image}
Looking for buy trades around this area at 1.27147 ish.
Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_685.png Size: 38 KB
Trade to trade another day
  • #767,393
  • Aug 15, 2023 12:37pm Aug 15, 2023 12:37pm
GU trapping newbies/scalpers 24/7 365.
Attached Image (click to enlarge)
Click to Enlarge Name: 1673896742847.jpg Size: 92 KB
Trade at your own risk.
  • #767,394
  • Edited 12:48pm Aug 15, 2023 12:37pm | Edited 12:48pm
Quoting Pat Chiko
{quote} GU How it began 24 hours ago........{image} Where we are now.....{image}


There is another option with EW


Wave 5 goes 3-3-3-3-3 from D1 we are in wave 5

No tradingview elliott wave script was used during the making of this chart


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 51 KB
Follow The Markets Structure - Patience and Discipline
  • #767,395
  • Aug 15, 2023 12:42pm Aug 15, 2023 12:42pm
Quoting Fardeen1209
{quote} SMC worked but it needs to be combined by other TA like any other Technical tools. What you said?
The current setup... is SMC..

how chicko called it? Inducement
  • #767,396
  • Aug 15, 2023 12:44pm Aug 15, 2023 12:44pm
Quoting pipfarm
{quote} In that case i do not see the point of monitoring all the lower timeframes. Thanks for your explanation Looks like GU is falling away from that D1 push into W1
i only use the lower time frames to get into position, always look first at weekly and daily
  • #767,397
  • Aug 15, 2023 12:48pm Aug 15, 2023 12:48pm
Quoting Whale
{quote} The current setup... is SMC.. how chicko called it? Inducement
Yes, and the 4hr downward structure still in play.
More time in the market, does not mean you trade better!
  • #767,398
  • Aug 15, 2023 12:48pm Aug 15, 2023 12:48pm
Quoting Fardeen1209
{quote} Bro, regarding the daily Dollar index, do you see the range as a wyckoff re-accumulation after a correction?
Hi Fardeen....

Let me clarify to you that, EW edging diagonals and Wyckoff accumulation after correction does have relationship.

Edging diagonals are often found in the fifth wave of an impulse, which is the final wave of a bull market.
Wyckoff accumulation is a technical analysis pattern that occurs after a correction in a bull market.
It is characterized by a period of consolidation, during which the market consolidates its gains and prepares for the next leg up.

In some cases, edging diagonals can be seen as part of the Wyckoff accumulation process.
The first three waves of the edging diagonal (A-B-C) can be seen as the distribution phase of Wyckoff accumulation, while the last two waves (X-Y) can be seen as the accumulation phase.

If you have time , you may want to spend considerable amount of time to read all this. ( Some very basic newbie stuff)
As most of thraders here are ad=vance, it should skip reading it ( waste of time)..

Here's the link.
learningcenter.unit-1/chapter-4/trends-pullbacks-breakouts-ranges
I come from the future.
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  • #767,399
  • Aug 15, 2023 12:53pm Aug 15, 2023 12:53pm
Quoting Whale
{quote} The current setup... is SMC.. how chicko called it? Inducement

Helllo...................

Inducement wad used longggggggggg time ago by Wyckoff....
Same as CHoCH was introduce by Wyckoff.

Please read something intelligent before quoting me.

SMC is rebrand and repackage.....
Please no more comment about me, if the post doesn't related or quote you.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #767,400
  • Aug 15, 2023 12:54pm Aug 15, 2023 12:54pm
Quoting Fardeen1209
{quote} Yes, and the 4hr downward structure still in play.
Dont entertain her.
She doesn't know what I'm talking about, just want to look relevance in participating.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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