Cable Update (GBPUSD)

Quoting Headland

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{quote} Hi, nice chart. I have a repeating pattern of 4hr regular bearish div @ y/day's 3434 hi too, also on dly and wkly (although different repeating patterns.) Countering this @ the current dly lo I have a repeating pattern of 30min bullish hidden div which will probably stay valid whilst price above 3351, and a potentially developing bullish hidden div pattern on 1hr on any deeper drop down, which may stay valid as a pattern whilst above y/day's 3309 lo, (whether or not they play out.) So the regular bearish div -or- the bullish hidden div on...

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Quoting Mitiblotch

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{quote} So that idiotic rise above Tuesday's high was just to take out SLs. I'm glad I didn't close that trade with about 3k loss. My SL was 3450 and I wanted to close it but got busy and later so price coming down. Let's see if we get 3300 or even 3270.

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Quoting Alorente

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{quote} From my experience, GU divergences in lower time frames are not consistently accurate. For some reason that I cannot explain, they are very accurate in the H4 time frame at swing change. And I mean extremely accurate... This is the only reason I have the True Trend indi on some of my GU charts, just to spot the H4 divergence at swing trend change.

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Quoting Headland

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{quote} Yeh, that's a valid and good point, and like with a lot of technical things they tend to be more 'reliable' the higher the t/f you go. I particularly noticed the point you make re divergences on the lower t/f's when I was developing my trading edge, way back when, and so added other factors to my repeating set-ups that as a result involve, but are not exclusively reliant on, divergence or oscillator extreme o/s or o/b reads, ie not least PA itself.

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Quoting HaLBot

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I've had a buy on from 1.3370, will close @ 3385 if it gets there....

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Quoting Headland

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...you bears didn't think you'd be having it all your own way did you, in an overall bullish market like this? lol! Anyways, a bullish Full exp tri on 30min is playing out, (target being a fib ext of move 4-5 - if you hold it for that,!?) and the Intermediate exp tri on 5min - ( ie a 2nd chance long entry) has played out. I won't post these as I have posted enough examples of them, and if anyone is interested in these classic reversal patterns there's a pdf on them via 'files' on my profile. So, 1st downside b/o of Asian lo was false, as was the...

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Quoting Mitiblotch

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{quote} We will have it our way up on till 3270. We need to slaughter you bulls just like you have slaughtered us these past few days.

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Quoting Headland

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{quote} Lol. You never know - 30min and possibly 1hr are in downtrends, and intraday is currently overall bearish. Anything can happen. Good luck. {image}

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Quoting Headland

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...you bears didn't think you'd be having it all your own way did you, in an overall bullish market like this? lol! Anyways, a bullish Full exp tri on 30min is playing out, (target being a fib ext of move 4-5 - if you hold it for that,!?) and the Intermediate exp tri on 5min - ( ie a 2nd chance long entry) has played out. I won't post these as I have posted enough examples of them, and if anyone is interested in these classic reversal patterns there's a pdf on them via 'files' on my profile. So, 1st downside b/o of Asian lo was false, as was the...

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Quoting Abeylyn

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{quote} This analysis is very timely. Great thanks to you. The target Fib ext 4 - 5 is located precisely at what point ? 1.3460 on my chart which seems doubtful.

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Quoting Alorente

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{quote} Last night and today we are adding the one missing ingredient that almost always occurs with GBPUSD at price swing changes: The H4 divergence as shown by my trusted True Trend indicator. Now we have it. I marked in white the previous instances of H4 divergence with price at swing changes as well as the present one. Now the Blue wedge should do its work... But course, today is the PCE news, so anything can happen. {image}

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