Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#835,501
Aug 16, 2024 1:40pm Aug 16, 2024 1:40pm

knkie
Joined Apr 2012 | Status: Stunning | 6,815 Posts

Quoting pipfarm

Disliked

{quote} That would be cool Todays haul on the three i posted 114 pips

Ignored

beautiful waves today

in wondering about yourself, you forgot what you came here to be part of

#835,502
Aug 16, 2024 1:40pm Aug 16, 2024 1:40pm

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

Quoting BeeTogether

Disliked

{quote} nice!! And that is without too much volume too! depending on where we close today, next week with not too much in data could simply be continuing with the current PA with 130-131 not looking too far off.

Ignored

I know it is shabby (130 now), i had to leave a lot of good trades behind due to margins

Agree i have been looking higher than 130 because the 130 low is the low of the impulse in the irregular W1 correction so 340 is more possible and maybe even 380

Follow The Markets Structure - Patience and Discipline

#835,503
Aug 16, 2024 1:45pm Aug 16, 2024 1:45pm

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

Quoting BeeTogether

Disliked

{quote} nice!! And that is without too much volume too! depending on where we close today, next week with not too much in data could simply be continuing with the current PA with 130-131 not looking too far off.

Ignored

2 pips to go to 2940

Follow The Markets Structure - Patience and Discipline

#835,504
Aug 16, 2024 1:48pm Aug 16, 2024 1:48pm

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

Quoting pipfarm

Disliked

{quote} 2 pips to go to 2940

Ignored

Done 2940

Follow The Markets Structure - Patience and Discipline

#835,505
Aug 16, 2024 1:50pm Aug 16, 2024 1:50pm

elude
| Joined Jul 2012 | Status: Trader | 490 Posts

Quoting Waveskierrob

Disliked

{quote}

Ignored

When the time comes, it will be there.

#835,506
Aug 16, 2024 1:56pm Aug 16, 2024 1:56pm

elude
| Joined Jul 2012 | Status: Trader | 490 Posts

I'm not trading GU btw,
I'm on UJ

#835,507
Aug 16, 2024 2:01pm Aug 16, 2024 2:01pm

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

Quoting Headland

Disliked

...on 4hr - above current dly hi are 2 x prev sw hi zones = prev res, (that start @ a 76.4% upside fib - 2929,) and then a prev 4hr/minor dly sw lo zone = pot sbr that starts @ 2937 and extends to 2946 on this t/f, (circa 2961 on dly.) These are all coexistent with each other. Dly R3 is @/around 2957.

Ignored

...price @ current dly hi has reached 134% 13wk awr and 141% 30day adr, and is @ top of the 4hr part of the prev 4hr/dly sw lo zone = pot sbr described in quote above. Dly part extends up higher.

Dly below

Attached Image (click to enlarge)

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Trader with an Edge.

#835,508
Aug 16, 2024 2:18pm Aug 16, 2024 2:18pm

Waveskierrob
Joined May 2020 | Status: Best trader ever to exist ever | 10,698 Posts

Quoting elude

Disliked

{quote} When the time comes, it will be there.

Ignored

I know, not my first underwater rodeo , luckily I've buckets load of cash but most importantly buckets loads of patience, but thanks...

#835,509
Aug 16, 2024 2:25pm Aug 16, 2024 2:25pm

elude
| Joined Jul 2012 | Status: Trader | 490 Posts

Quoting Waveskierrob

Disliked

{quote} I know, not my first underwater rodeo , luckily I've buckets load of cash but most importantly buckets loads of patience, but thanks...

Ignored

Great! Those are the essentials.

#835,510
Aug 16, 2024 2:31pm Aug 16, 2024 2:31pm

BeeTogether
Joined Oct 2020 | Status: Trader | 14,004 Posts

Done! Have a great weekend all

Insane in the Brain..

#835,511
Aug 16, 2024 2:37pm Aug 16, 2024 2:37pm

Mitiblotch
Joined Sep 2017 | Status: Trader | 11,213 Posts

Quoting Mitiblotch

Disliked

{quote} The image below is a recipe for a bullet train to 1.30 at least. Don't believe me; just watch. It took more than a week for GU to align with EU in terms of sentiments, and for necessary movements to be made on EG. Now we can rise like the Eagle. I will buy every dip! {image}

Ignored

Well, I guess I was right. This thing will slowly and relentlessly go up. And just so you know, it was bought on a Friday so it means higher prices coming. Buy dips and be happy till 1.3100 at least.

#835,512
Aug 16, 2024 2:40pm Aug 16, 2024 2:40pm

Mitiblotch
Joined Sep 2017 | Status: Trader | 11,213 Posts

Quoting pipfarm

Disliked

{quote} I know it is shabby (130 now), i had to leave a lot of good trades behind due to margins Agree i have been looking higher than 130 because the 130 low is the low of the impulse in the irregular W1 correction so 340 is more possible and maybe even 380

Ignored

I mentioned 1.4000 about 2 weeks ago. There'll certainly be corrections here and there but I do not want any correction that I'm not sure will yield 200 pips

#835,513
Aug 16, 2024 2:55pm Aug 16, 2024 2:55pm

JameRomeo168
| Joined Jul 2021 | Status: Trader | 486 Posts

I focus more on buy than sell next week.
Take a rest now and prepare for hard battle next week.

Have a good weekend everyone.

With courage, patience, and discipline, success is a matter of time.

#835,514
Aug 16, 2024 3:19pm Aug 16, 2024 3:19pm

elude
| Joined Jul 2012 | Status: Trader | 490 Posts

Quoting elude

Disliked

I'm not trading GU btw, I'm on UJ

Ignored

I'm closing my UJ trades for the weekend, and will resume next week.
Because it is on the GU thread I'm writing here, information on my UJ trades is undisclosed.

Happy weekend!

#835,515
Edited Aug 17, 2024 8:38am Aug 16, 2024 4:43pm | Edited Aug 17, 2024 8:38am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

...markets have just closed for the week. Here is my analysis of the closing state of affairs across the important t/f's;

* Wkly A bullish thrust candle close on this t/f that creates 2665 as a fractal swing HL now after the HH @ 3045, and subsequent pullback. A pretty relentlessly bullish week other than Wednesday, with price achieving 134% of 13wk (1/4yr) awr. This week's candle close was a bullish upside follow-thru on the previous week's hammer candle, off the long-term ascending t/line that joins 0364~2300 and now ~2665. This t/f closes the week in a general uptrend. Price however closes below the 3045 current yrly hi, (which is below last year's 3142 hi,) after the pullback to 2665 HL from it, and rise up from there, back toward it.
* Dly Friday's dly candle, like the wkly, closes as a bullish thrust candle, with price achieving 143% of 30day adr today. There will be a HH @ the day/week just closed's 2946 hi or higher, after the H @ 2873, a pullback to a HL @ 2798, and the rise up to the dly/week just closed's hi. Price on this t/f closed in a prev 4hr/dly minor sw lo zone = pot sbr that started @ 2937 and on this t/f extends to circa 2960. The t/f closes the week possibly @ the start of a new uptrend?
* 4HR The last candle close on this t/f was, like the wkly and dly, a bullish thrust candle. (These candles imply momentum and more upside probable, at some stage.) The t/f closes the week in a general uptrend and price closes right near/at the top of the 4hr part of the prev 4hr/dly sw hi zone = pot sbr discussed in dly analysis above.
* 1HR This t/f closes the week in a general uptrend and it's last candle close was a small range inverted pinbar.

NB: Wkly, Dly and 4HR candles all closed very close to their hi's and couldn't really be more bullish. It will be interesting to see what happens at next week's open and into Monday. There are probably quite a few nursing underwater short positions over the w/e, and hoping for a timely halt to the upside momentum?

Wkly, Dly, 4HR (with 10/20/40 ema crosses graphic,) below.

Attached Image(s) (click to enlarge)