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Cable Update (GBPUSD)

  • #767,401
  • Aug 15, 2023 12:55pm Aug 15, 2023 12:55pm
Quoting Pat Chiko
{quote} 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...
Thanks bro, will definitely reading it.
My EW is still on 1-5 ABC, learned it, now in the application phases using the fractal nature of tbe waves.

The more complex waves will take a while before absorbing them, as i have a great weakness when remembering stuff, particularly the EW- too many guidelines to be followed.
More time in the market, does not mean you trade better!
  • #767,402
  • Aug 15, 2023 12:58pm Aug 15, 2023 12:58pm
Quoting Pat Chiko
{quote} Dont entertain her. She doesn't know what I'm talking about, just want to look relevance in participating.
HHH ok.
check my daily posts then.

Later,chill

see ya
  • #767,403
  • Aug 15, 2023 1:00pm Aug 15, 2023 1:00pm
Quoting JoshHR
what do people think will happen to the pound tomorrow on CPI? I can't work it out!
hey, newbie here.nobody knows for sure.
I think will be a spike up and then market interprets the data for a few minutes and then a direction is set based on impact and overall market conditions.
You have an IQ lower than 90 if you interact with this user.
  • #767,404
  • Aug 15, 2023 1:04pm Aug 15, 2023 1:04pm
Quoting Ferna
Unholy strength in GU. Wonder if they all will get squeezed, or this is a new journey to 1.35.
1.35 no chance before 125 first imo
  • #767,405
  • Aug 15, 2023 1:16pm Aug 15, 2023 1:16pm
Quoting Wavegarrick
{quote} Looking for buy trades around this area at 1.27147 ish. Cheers. {image}
You're my man!
Wave 5 has finished, new uptrend
Long 1.2716
  • #767,406
  • Aug 15, 2023 1:23pm Aug 15, 2023 1:23pm
Quoting T721
{quote} 1.35 no chance before 125 first imo
Yes, 1.25 was my number but looking at my chart, i think it will not go that far.
  • #767,407
  • Aug 15, 2023 1:43pm Aug 15, 2023 1:43pm
Quoting Wavegarrick
{quote} Looking for buy trades around this area at 1.27147 ish. Cheers. {image}
And the target for your longs is...?
WT
  • #767,408
  • Aug 15, 2023 1:43pm Aug 15, 2023 1:43pm
So we got here that the downward movement was a retracement move(maybe?), and currently moving sideways.
let's see what the wyckoff method says (the picture below the chart screenshot)

P.S: replaced the pic with another one for clarity.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_2023-08-15_23-08-10.png Size: 31 KB
Click to Enlarge Name: Wyckoff-Accumulation-Breakdown-1024x576.jpg Size: 32 KB
  • #767,409
  • Aug 15, 2023 1:51pm Aug 15, 2023 1:51pm
Quoting sajad.g
So we got here that the downward movement was a retracement move(maybe?), and currently moving sideways. let's see what the wyckoff method says (the picture below the chart screenshot) P.S: replaced the pic with another one for clarity. {image} {image}
I think that based on this, for a clear sign for an upward movement, the resistance at 1.28500 should be broken first AND if it fails to do so, then it might fall to 1.26 or 1.24
  • #767,410
  • Aug 15, 2023 1:53pm Aug 15, 2023 1:53pm
It seems Daily Candle will close ONCE AGAIN below Resistance.
This fight is all but over.

We will probably have the winner tommorow with CPI coming out. Fed not important as much...

Yesterday's and today's daily candle look like a classic thorough cleaning before impulsive move. Long wick down and today long wick up.
  • #767,411
  • Aug 15, 2023 2:11pm Aug 15, 2023 2:11pm
Quoting Fx3423454
GU trapping newbies/scalpers 24/7 365. {image}
"You are an inspiration to my trading" thanks Waveski, no worries fx 123456789...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20230815-200031_IG Trading.jpg Size: 418 KB
  • #767,412
  • Aug 15, 2023 2:26pm Aug 15, 2023 2:26pm
Quoting navk
{quote} Until now, I do not see
A possible sell after asia open... the sell activity currently may continue .

THe pattern suggests
Intraday only.
  • #767,413
  • Aug 15, 2023 2:28pm Aug 15, 2023 2:28pm
Quoting thevisitor
{quote} You're my man! Wave 5 has finished, new uptrend Long 1.2716
Added 1.2701
  • #767,414
  • Aug 15, 2023 2:28pm Aug 15, 2023 2:28pm
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.........
Pat, there is no way to know in advance how the price will unfold in the future. We can only come up with 2 of the most likely scenarios and play the odds (impulse, correction). Impuls is simple 1-2-3-4-5, and correction is as good as anybody's guess.
Attached Image (click to enlarge)
Click to Enlarge Name: DXY 08.15 dailyb.png Size: 64 KB

Which pattern will show up?
Attached Image (click to enlarge)
Click to Enlarge Name: Corrpatterns - Copy (1).PNG Size: 68 KB
Always trade your own plan...I don't provide trading signals.
  • #767,415
  • Aug 15, 2023 2:46pm Aug 15, 2023 2:46pm
Quoting TheWraith
It seems Daily Candle will close ONCE AGAIN below Resistance. This fight is all but over. We will probably have the winner tommorow with CPI coming out. Fed not important as much... Yesterday's and today's daily candle look like a classic thorough cleaning before impulsive move. Long wick down and today long wick up.
Exactly.... Certain people just love to overcomplicate things in here... And they love to mislead newbies.

They are like the drug dealers of the thread trying to induce newbies into scalping.
Trade at your own risk.
  • #767,416
  • Aug 15, 2023 2:48pm Aug 15, 2023 2:48pm
Quoting Zebi
{quote} low volitility favors the bears right now will retrace the lunatics that bought the retail sales number
Attached Image (click to enlarge)
Click to Enlarge Name: 2023-05-12 03_58_23-(2) The Sharks Are SHOCKED At Blueland's Asking Share _ Shark Tank US _ Shark Ta Size: 36 KB
Trade at your own risk.
  • #767,417
  • Aug 15, 2023 2:53pm Aug 15, 2023 2:53pm
Quoting Fx3423454
I see that GU has been trapping newbies/scalpers all day. Just another day in the office.
Hey fella!

seems like you didn’t make any money today again. How sad. Flip me some burgers instead I’ll tip.

but your master is also trapped isn’t he?

anyways have a good one!

cheers
Attached Image (click to enlarge)
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How to succeed in zero sum game?
  • #767,418
  • Aug 15, 2023 2:55pm Aug 15, 2023 2:55pm
Quoting Waveskierrob
{quote} "You are an inspiration to my trading" thanks Waveski, no worries fx 123456789... {image}
Let's see those losing positions. I see you have 64 positions still open sucker. How long will you hold that bag of crap?

You have no idea how to trade dude. Opening both sides of a position doesn't work. It also leads to a pretty pathetic life being glued to a computer screen all the time.
Trade at your own risk.
  • #767,419
  • Aug 15, 2023 2:57pm Aug 15, 2023 2:57pm
Closed s&p 500 and Nasdaq shorts with great profits. Only index position open is long Jap225.
You have an IQ lower than 90 if you interact with this user.
  • #767,420
  • Aug 15, 2023 3:16pm Aug 15, 2023 3:16pm
Quoting dempire1
{quote} Hey fella! seems like you didn’t make any money today again. How sad. Flip me some burgers instead I’ll tip. but your master is also trapped isn’t he? anyways have a good one! cheers {image}
I do love a good burger...
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