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Cable Update (GBPUSD)

  • #795,721
  • Dec 7, 2023 10:54am Dec 7, 2023 10:54am
Quoting navk
The price will slowly but surely ( likely ? ) break the highs of today IMO. 1.2550 has been tested and held numerous times.
navk, this choice of words can bring the wrath on you of fellow traders here... Gu is still in the 40 pips range.
Attached Image (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #795,722
  • Dec 7, 2023 10:58am Dec 7, 2023 10:58am
Quoting birdland
{quote} which wave i dont know, i dont have a name for it...think its kind of authodidact observation of the 6 wave pattern. {image}
The '1' is known as point Zero or wave 0 . Like the origin on a X and Y axis chart.
The '2' in your chart becomes '1'

A Wave is counted as '1 wave' at the end of the wave - to know whether a wave is coming to an end we use fractals [5 mini waves for motive waves and 3 mini waves for corrective waves(frequently) and sometimes they also have 5 fractals waves] and using fibonacci tools we can narrow down which price level is more likely to end a wave and start the next.
Not a sure thing, but high probability to end it and start the next wave.

I am currently reading High Probabilty trading strategies by Robert Miner and with my amateur knowledge i acquire by analyzing Mr Coreg and Mr Eyefeelsix EW charts, applying the concept taught in the book becomes easier.

You too might take read it in your free time, Sir.
More time in the market, does not mean you trade better!
  • #795,723
  • Dec 7, 2023 11:16am Dec 7, 2023 11:16am
Quoting Coreg2004
{quote} navk, this choice of words can bring the wrath on you of fellow traders here... Gu is still in the 40 pips range. {image}
40 pips will break out eitherway as it happened yesterday. After everyone had the lunch and goto bed ( As I do )
Intraday only.
  • #795,724
  • Dec 7, 2023 11:17am Dec 7, 2023 11:17am
Quoting Fardeen1209
{quote} The '1' is known as point Zero or wave 0 . Like the origin on a X and Y axis chart. The '2' in your chart becomes '1' A Wave is counted as '1 wave' at the end of the wave - to know whether a wave is coming to an end we use fractals [5 mini waves for motive waves and 3 mini waves for corrective waves(frequently) and sometimes they also have 5 fractals waves] and using fibonacci tools we can narrow down which price level is more likely to end a wave and start the next. Not a sure thing, but high probability to end it and start the next wave....
ok. so i am on the right track;-)

ah thank you, that is a good suggestion to read the book over christmas holidays!

it seems this tool/technic is something useful for my trading.
trading is like dancing, don't think and just listen to the music!
  • #795,725
  • Dec 7, 2023 11:17am Dec 7, 2023 11:17am
Crooky pa
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yes yes yes
  • #795,726
  • Dec 7, 2023 11:26am Dec 7, 2023 11:26am
Quoting navk
{quote} 40 pips will break out eitherway as it happened yesterday. After everyone had the lunch and goto bed ( As I do )
I want to see a range of 70-75 pips for a day, too.
Always trade your own plan...I don't provide trading signals.
  • #795,727
  • Dec 7, 2023 11:29am Dec 7, 2023 11:29am
Quoting birdland
{quote} ok. so i am on the right track;-) ah thank you, that is a good suggestion to read the book over christmas holidays! it seems this tool/technic is something useful for my trading.
Indeed EW is a great and complicated tool to master.
I am just a beginner, but with experts here lucky me i skipped couple years trying to figure out how to count the waves
More time in the market, does not mean you trade better!
  • #795,728
  • Dec 7, 2023 11:30am Dec 7, 2023 11:30am
Quoting Coreg2004
{quote} I want to see a range of 70-75 pips for a day, too.
considering the range of just 60 pips, yesterday, i expect more than 1.2600 sometime today.

Around 2620 will not surprise me.
Intraday only.
  • #795,729
  • Dec 7, 2023 11:36am Dec 7, 2023 11:36am
PA for lucky guys.
  • #795,730
  • Dec 7, 2023 11:39am Dec 7, 2023 11:39am
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  • #795,731
  • Dec 7, 2023 11:40am Dec 7, 2023 11:40am
Quoting Moty
Tp changed from 1.26000 to 1.25935 {image}
115 $ in profit closed after choopy crooky pa
That after 67 loss from the night
Total profit is 48 $
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yes yes yes
  • #795,732
  • Dec 7, 2023 11:43am Dec 7, 2023 11:43am
Quoting navk
{quote} considering the range of just 60 pips, yesterday, i expect more than 1.2600 sometime today. Around 2620 will not surprise me.
92x80%daily ATR(14)=73.6 pips...
1.25457+73.6=1.26193...magic
Always trade your own plan...I don't provide trading signals.
  • #795,733
  • Dec 7, 2023 11:49am Dec 7, 2023 11:49am
Took short
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yes yes yes
  • #795,734
  • Dec 7, 2023 11:52am Dec 7, 2023 11:52am
Quoting Moty
{quote} 115 $ in profit closed after choopy crooky pa That after 67 loss from the night Total profit is 48 $ {image}
The writing was on the wall from this morning Moty.
If you have longs down Yonder hold onto them,
Cheers,
Trade to trade another day
  • #795,735
  • Dec 7, 2023 11:58am Dec 7, 2023 11:58am
Quoting Wavegarrick
{quote} The writing was on the wall from this morning Moty. If you have longs down Yonder hold onto them, Cheers,
1.26130 is wave 4
We broke last weekly low
We saw today a pull back to wave c
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yes yes yes
  • #795,736
  • Dec 7, 2023 12:01pm Dec 7, 2023 12:01pm
Buy more gbpusd thank me in 2 weeks
Ret
  • #795,737
  • Dec 7, 2023 12:01pm Dec 7, 2023 12:01pm
Can loss only 20 $
Can win 60 $

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yes yes yes
  • #795,738
  • Dec 7, 2023 12:11pm Dec 7, 2023 12:11pm
Quoting Waveskierrob
{image}
Although you likely intended a little joke here, I am confident that few caught it. Instead, this is more likely the thoughts evoked:
Are you posting this nonsense out of ignorance (along with not doing fact checking), or are you just screwing with the typical mindset encountered online that believes, "I read it on [insert your favorite site here], so it MUST be true!"?
FACT: He was a musical prodigy.
FACT: He composed his first work around the age of 10.
FACT: He had at least adequate hearing until nearly the age of 30.
To free Gazans of Hamas, use whatever it takes.
  • #795,739
  • Dec 7, 2023 12:14pm Dec 7, 2023 12:14pm
Quoting Moty
{quote} 1.26130 is wave 4 We broke last weekly low We saw today a pull back to wave c {image}
Thanks Moty,
I usually count 6 waves and after that the lull to surf launch my boat into the waves. I try hard to understand waves and I guess Papilon will give us all a good lesson in wave counting. He sat day in and day out throwing coconuts into the water and eventually found a way to escape the island
Cheers Mate.
Trade to trade another day
  • #795,740
  • Dec 7, 2023 12:30pm Dec 7, 2023 12:30pm
Bought GU 1.2587... target 1.2700... stop 1.2540
Data + Stat + Risk/Emotions Management
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