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Cable Update (GBPUSD)

  • #837,701
  • Sep 10, 2024 9:07am Sep 10, 2024 9:07am
Quoting munish7786
I think this down move is sell trap, today GBP employment numbers are good and tomorrow news forecast good for GBP and bad for USD. These are my thoughts any other suggestion please share
No sell trap

If you look at D1 we are in a correction , go to H4 and then H1 to see the full structure

First wave down can be anything, 2nd wave up exp flat ( that is the long trap) third wave down an impulse wave so price is doing exactly what it should be doing.
Follow The Markets Structure - Patience and Discipline
  • #837,702
  • Sep 10, 2024 9:08am Sep 10, 2024 9:08am
Quoting TheHusla
Next Up GJ, just going for the double bottom here at which point will put to B/E but need bit more of a spike down for TP. Let's see.... {image} {image}
- TP

On a bit of a streak this week. Normally when this happens there are some tough conditions ahead that catch me out. Let's see....
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  • #837,703
  • Sep 10, 2024 9:10am Sep 10, 2024 9:10am
Quoting munish7786
I think this down move is sell trap, today GBP employment numbers are good and tomorrow news forecast good for GBP and bad for USD. These are my thoughts any other suggestion please share
In my opinion, I don't believe it's a false sell-off. If anything, we might be facing a significant drop. I think I will be babysitting MM going forward
  • #837,704
  • Sep 10, 2024 9:22am Sep 10, 2024 9:22am
Today MMs have pulled out the full flat correction arsenal

you will have noticed a lot of pairs moving strongly in one direction after a correction in the opposing direction via expflats, irregular flats and regular flats.
Follow The Markets Structure - Patience and Discipline
  • #837,705
  • Sep 10, 2024 9:26am Sep 10, 2024 9:26am
Took profit might trade a long for 13075 not decided
Insane in the Brain..
  • #837,706
  • Sep 10, 2024 9:30am Sep 10, 2024 9:30am
Quoting Moty
Drop goldi drop {image}
crooky tail mf
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yes yes yes
  • #837,707
  • Sep 10, 2024 9:32am Sep 10, 2024 9:32am
EU still looking good for further decline
Master your mind. Master Trading.
  • #837,708
  • Sep 10, 2024 9:36am Sep 10, 2024 9:36am
Quoting BeeTogether
Took profit might trade a long for 13075 not decided
Be careful taking trades opposing a strong move
Follow The Markets Structure - Patience and Discipline
  • #837,709
  • Sep 10, 2024 9:45am Sep 10, 2024 9:45am
Quoting Mitiblotch
Sold 3097 to TP at 3020. What price is doing now is what I call shenanigans. In my books, price shouldn't go up from here. It can spike but it shouldn't be sustained. I am willing to buy only near 3000. Anything else, no!
this guy is on fireeee
People don't plan to lose. They lose because they don't plan.
  • #837,710
  • Sep 10, 2024 9:50am Sep 10, 2024 9:50am
Quoting TheHusla
{quote} - TP On a bit of a streak this week. Normally when this happens there are some tough conditions ahead that catch me out. Let's see.... {image} {image} {image} {image}
Bear in mind what you are trading ,that is a very very minor impulse ( not impulse wave but a single impulse) that determines your t/p
Follow The Markets Structure - Patience and Discipline
  • #837,711
  • Sep 10, 2024 9:56am Sep 10, 2024 9:56am
Quoting pipfarm
{quote} Be careful taking trades opposing a strong move
defo hence it’s only a 10-15 pip move I’m looking for .. trend is down.
Insane in the Brain..
  • #837,712
  • Sep 10, 2024 10:01am Sep 10, 2024 10:01am
Quoting BeeTogether
{quote} defo hence it’s only a 10-15 pip move I’m looking for .. trend is down.
4pm GMT could be turn around time, London fix
Follow The Markets Structure - Patience and Discipline
  • #837,713
  • Sep 10, 2024 10:08am Sep 10, 2024 10:08am
Quoting palpite
GBPUSD - Sell {image}
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Together we can be strongest
Vantage Return This Month: na
  • #837,714
  • Sep 10, 2024 10:19am Sep 10, 2024 10:19am
Quoting Pat Chiko
{quote} GU Daily On the Daily , I’ve applied Fib retracement to the recent upward move, and I’m anticipating a one-two-three pullback as a potential entry point for a long position, ideally with a strong Fib bounce. I don’t believe the correction is over just yet. {image} With the CPI inflation data released , that could signal the end of the correction, but it’s also possible the correction could extend until September 18th, when the interest rate decision is announced. We’ll have to monitor closely to see how it unfolds. H4 On H4, we had some...

GU

Stopped out.

Wave C completed with12345
Going for LONG N3 as price filled FVG

For clarity , refer to previous set up chart.

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O/S don't disturb me now, I'm crying for the loss trades
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #837,715
  • Sep 10, 2024 10:21am Sep 10, 2024 10:21am
Quoting pipfarm
{quote} No sell trap If you look at D1 we are in a correction , go to H4 and then H1 to see the full structure First wave down can be anything, 2nd wave up exp flat ( that is the long trap) third wave down an impulse wave so price is doing exactly what it should be doing.
Thanks for sharing.
Appreciate that write up
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #837,716
  • Sep 10, 2024 10:22am Sep 10, 2024 10:22am
Quoting GODofMC
{quote} i dont have any thats why i asking. But my drawing shpuld be like this. As long as 2508 hold (probably till 2515) i think will test down 2493, 2484. Rought Guess only. I never analize more than $5/50 pips for gold {image}
failed miserably, after touching 2515, down only to 2501 then bounce rapidly
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #837,717
  • Sep 10, 2024 10:26am Sep 10, 2024 10:26am
Quoting GODofMC
{quote} failed miserably, after touching 2515, down only to 2501 then bounce rapidly
Thats because you analyse only one timeframe.
Higher timeframe for bias, lower timeframe for entry positioning for the bias.
More time in the market, does not mean you trade better!
  • #837,718
  • Sep 10, 2024 10:37am Sep 10, 2024 10:37am
Quoting Fardeen1209
{quote} Thats because you analyse only one timeframe. Higher timeframe for bias, lower timeframe for entry positioning for the bias.
yeah maybe right as im bad at positioning entry. Need more time to learn.
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #837,719
  • Sep 10, 2024 10:49am Sep 10, 2024 10:49am
Quoting GODofMC
{quote} yeah maybe right as im bad at positioning entry. Need more time to learn.
Trading gold is hard, i analyse from monthly to 3 mins.
While using 3 mins chart for entry but actually positioning for the 15mins market structure.

15 mins market structure > 30mins candlestick
30 mins market structure > 1hr candlestick
1hr market structure > 4hr candlestick
4hr market structure > Daily candlestick
Daily market structure(swing) > weekly candlestick.

Market structure is harder to manipulate than candlestick as it is hard to hide the area of liquidity, thus give higher chance to be on the right side majority of the time.

With a good MM strategy, even tho we happened to be on the wrong side, our partial TP must be in such a way, that it covers a good % of your risk.

Why not using 3mins structures?
It gives lot of fakeouts. And the 15mins structure gives a better view where price want to unfolds next.
More time in the market, does not mean you trade better!
  • #837,720
  • Sep 10, 2024 10:50am Sep 10, 2024 10:50am
Quoting Zebi
seems the rightwingers won some elections in Germany so I expect EU to be lower by Friday to show its displeasure lets see if my theory works again LOL the honeymoon with the the brit labor victory is over so I'm gonna add GU shorts on any pops
Quoting Zebi
{quote} the red line in these charts is where I made this statement and price is back to where it started ,,,anyone that didn't short last weeks pop up lost a good opportunity now you have to chase price I was a day late cause its lower today instead of last Friday GU is even lower.... I'm gonna continue shorting each daily green candle cause both currencies got about 200 more pips to fall these are 4H charts {image} {image}
still looks lower...ill keep shorting EU and GU on pops
short trump and go long the deepstate
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