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Cable Update (GBPUSD)

  • #835,401
  • Aug 16, 2024 3:10am Aug 16, 2024 3:10am
Quoting BeeTogether
{quote} let’s do this! Someone fire Moty’s rocket
Lol... Moty is selling while I am buying. Hopefully both of us can make profit. It is possible. Price can still dip to 2830 area. But I will not touch the sell button for the remainder of the month. Price above monthly pivot and now sellers are finally in the majority.
  • #835,402
  • Aug 16, 2024 3:21am Aug 16, 2024 3:21am
Quoting Mitiblotch
{quote} Lol... Moty is selling while I am buying. Hopefully both of us can make profit. It is possible. Price can still dip to 2830 area. But I will not touch the sell button for the remainder of the month. Price above monthly pivot and now sellers are finally in the majority.

You could make a profit on the downside corrections, i was watching the lower timeframe 5 min , the price kept making these small impulses followed by expanding flat corrections so clearly an attempt to trap short sellers.

Some traders seem to think that when the price breaks a top it will reverse , this only happens when the price is making a correction ie an expanding flat so you would only be trading the C wave impulse of the correction , clever MMs

Once you recognise these patterns then you can work out S/R

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Follow The Markets Structure - Patience and Discipline
  • #835,403
  • Aug 16, 2024 3:34am Aug 16, 2024 3:34am
Quoting pipfarm
{quote} You could make a profit on the downside corrections, i was watching the lower timeframe 5 min , the price kept making these small impulses followed by expanding flat corrections so clearly an attempt to trap short sellers. Some traders seem to think that when the price breaks a top it will reverse , this only happens when the price is making a correction ie an expanding flat so you would only be trading the C wave impulse of the correction , clever MMs Once you recognise these patterns then you can work out S/R {image}

Look at the way the first impulse in the series travelled up - impulses separated by expanding flats and irregular flats all of different degree or size, very clever from the MMs. I have not drawn the exp and irregular flat in on the first impulse but see if you can spot them, if your interested.

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Follow The Markets Structure - Patience and Discipline
  • #835,404
  • Aug 16, 2024 3:43am Aug 16, 2024 3:43am
Squeeze mf
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yes yes yes
  • #835,405
  • Aug 16, 2024 3:45am Aug 16, 2024 3:45am
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yes yes yes
  • #835,406
  • Aug 16, 2024 3:47am Aug 16, 2024 3:47am
Sold 1.2890
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #835,407
  • Aug 16, 2024 3:49am Aug 16, 2024 3:49am
Quoting ScalaFX
add short 2877, will add every 5 pips till 2900 for 2700
my limits beautifly filling out, lets get this slide…
People don't plan to lose. They lose because they don't plan.
  • #835,408
  • Edited 4:11am Aug 16, 2024 3:56am | Edited 4:11am
Checking pa as tested 2890 Take care
May does a spike up for some pips before support 2878, 63 or 50 , better sr below 2863 over 50 for next leg up !
More pips up over 2890 now ,the more down it May go !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #835,409
  • Aug 16, 2024 3:57am Aug 16, 2024 3:57am
Quoting vankiepsauff
swing short at 1.2861 , 30 lots {image}
how s the short?…
  • #835,410
  • Aug 16, 2024 3:58am Aug 16, 2024 3:58am
Now is the time
Down down and below
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yes yes yes
  • #835,411
  • Aug 16, 2024 3:59am Aug 16, 2024 3:59am
Quoting Fishbones
{quote} selling only after taking the top… somewere around 1.290x I am expecting to crawl slowly up till cpi then a drop potentialy to 1.266x area
getting closer to the sellingbpoint…
  • #835,412
  • Aug 16, 2024 4:00am Aug 16, 2024 4:00am
Quoting Fishbones
{quote} Looks like the plan is holding and moving away from the sl area… sl to be
happy with the plan… so far
  • #835,413
  • Aug 16, 2024 4:03am Aug 16, 2024 4:03am
G/M, > 30day adr bullish dly candle y/day. Today so far. Asian session made a hi above y/day's hi and then early london follows thru to the upside to make a 1st upside b/o of the asian hi to a new current dly hi, this after Uk retail sales bounce back into +'ve territory but slightly below forecasts. Dly bullishness continues, 4hr in a general uptrend and 1hr has probably gone that way too again. Intraday bullish so far.

1hr below
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Trader with an Edge.
  • #835,414
  • Aug 16, 2024 4:09am Aug 16, 2024 4:09am
...price has traveled 97% of 13wk (1/4yr) awr so far this week on last trading day of week. Wkly S2 and 2 x upside fibs cluster just above current dly hi. 2nd upside b/o of last wk's hi remains true so far.

4hr (with 10/20/40 ema crosses graphic) below
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Trader with an Edge.
  • #835,415
  • Aug 16, 2024 4:12am Aug 16, 2024 4:12am
12890 so far resisting, if it does break however there could be a bigger move 12930-50 maybe
Insane in the Brain..
  • #835,416
  • Aug 16, 2024 4:15am Aug 16, 2024 4:15am
Quoting Fishbones
{quote} how s the short?…
you see him writened "swing short", so will be 100-200 pips profit I think and 50-100 SL
People don't plan to lose. They lose because they don't plan.
  • #835,417
  • Edited 4:37am Aug 16, 2024 4:16am | Edited 4:37am
...price @ the current dly hi has arrived @ that previously disrespected (hence hollow) major prev swing hi zone that extended up to 2893.

Dly below

EDIT: ...@ top on my 1hr chart above and dating back to 25th July, price has now entered a prev 1hr sw hi zone = pot res that extends to circa 2919, @/around Dly R2. That cluster of 2 x fibs and Wkly S2 is also @ current dly hi. Wkly R3 is @/around 2980.
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Trader with an Edge.
  • #835,418
  • Aug 16, 2024 4:36am Aug 16, 2024 4:36am
Quoting pipfarm
{quote} You could make a profit on the downside corrections, i was watching the lower timeframe 5 min , the price kept making these small impulses followed by expanding flat corrections so clearly an attempt to trap short sellers. Some traders seem to think that when the price breaks a top it will reverse , this only happens when the price is making a correction ie an expanding flat so you would only be trading the C wave impulse of the correction , clever MMs Once you recognise these patterns then you can work out S/R {image}
very good Pipfarm
this is what FF threads should be about, sharing knowledge and learning from each other.
in wondering about yourself, you forgot what you came here to be part of
  • #835,419
  • Aug 16, 2024 4:43am Aug 16, 2024 4:43am
A spike up running towards bull target 2940 plus , but may not in one leg up and now correction signal goes to 2891. Watching
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #835,420
  • Aug 16, 2024 4:49am Aug 16, 2024 4:49am
Some traders anticipate a reaction at 2899 , i do see the irregular flat to the left on 4h , however we broke the first correction lower down with a new trend to the upside so maybe only a break of the top of the 2899 area will see a reaction back to the R now S area of the irregular flat then the last correction to the left at the top an exp flat on 4H to go through before another reaction on the break of the top
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Follow The Markets Structure - Patience and Discipline
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