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Cable Update (GBPUSD)

  • #839,801
  • Sep 27, 2024 7:56am Sep 27, 2024 7:56am
i looked monthly. trend red,but goes to end,not strong,1.34 first upper level,it can be 1.36,but if candle close under 1.34,can be two candle,it goes to 1.18,after maybe up.,from 1.18, only what i see.
  • #839,802
  • Sep 27, 2024 7:57am Sep 27, 2024 7:57am
Quoting pipfarm
GBPUSD H1 is correcting upwards to 3412-27 before continuing the third leg of the D1 correction to the downside Not trading cable at the moment as chart says buy but the larger corrective wave down is not the type i look at for a continuation higher.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 32 KB
Follow The Markets Structure - Patience and Discipline
  • #839,803
  • Sep 27, 2024 7:59am Sep 27, 2024 7:59am
Quoting Abeylyn
{quote} Please can I have a copy of this indicator with the applicable settings ? Thanks.
Here it is.

Setting:
Trend CCI Period = 45
Attached File(s)
File Type: ex4 TrueTrend.ex4   16 KB | 250 downloads
Observation is the path to discovery.
  • #839,804
  • Sep 27, 2024 8:00am Sep 27, 2024 8:00am
Quoting Alorente
{quote} Here it is. Setting: Trend CCI Period = 45 {file}
Thanks dear brotherly.
Market Structure is the King.....
  • #839,805
  • Edited 8:39am Sep 27, 2024 8:13am | Edited 8:39am
News spike and if settle then correction watching.
Signal 3415 breaks and hold while limit down 3397.
As apparently not in any impulse , so once limit down breaks , may easily breaks below 3380 to bottom play !
More important price at a good height if fails take off must core good also !: again usdx must testing around ok last bottom and weekly now competing to close high with all means if possible !
Yes , usdx playing below 100 ! Looks bear continue /tanking mode !
So good chances gu respect 3397 and run another leg up above previous high! So unusual at this weekend !
Attached Image (click to enlarge)
Click to Enlarge Name: download - 2024-09-27T171247.953.png Size: 17 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #839,806
  • Sep 27, 2024 8:24am Sep 27, 2024 8:24am
Quoting Yngwie
{quote} Hit BE. Poor USD Core PCE Price Index m/m result
Data doesn't matter. It was all green yesterday and price went up to break the high. It's just a bull market and anything will make price rise. Meanwhile my trade is short
  • #839,807
  • Sep 27, 2024 8:26am Sep 27, 2024 8:26am
Quoting pipfarm
{quote} {image}
That's a 300 pip drop. Wow! Would be interesting.
  • #839,808
  • Sep 27, 2024 8:31am Sep 27, 2024 8:31am
My long term directional bias is still bullish and I am looking to see 1.40 at the end of the year. As what I see GBPUSD right now technically and fundamentally, market seems want to go 1.40 rather than below 1.30 zone.
With courage, patience, and discipline, success is a matter of time.
  • #839,809
  • Sep 27, 2024 8:32am Sep 27, 2024 8:32am
Quoting Konichiwhaat
here we are, 3420... do you see it?
Déjà vu? Maybe holding this one over the weekend
Emotional Control. Process, not outcome.
  • #839,810
  • Sep 27, 2024 8:33am Sep 27, 2024 8:33am
Quoting Mitiblotch
{quote} Data doesn't matter. It was all green yesterday and price went up to break the high. It's just a bull market and anything will make price rise. Meanwhile my trade is short
Terrible news for USD and still no breakout. What does that tell you? There are many longs with sweaty palms right now who were expecting a breakout on the news.

That does not mean that a breakout cannot happen. It just means it is unlikely and the path of least resistance should be down.
Observation is the path to discovery.
  • #839,811
  • Sep 27, 2024 8:38am Sep 27, 2024 8:38am
Quoting Mitiblotch
{quote} That's a 300 pip drop. Wow! Would be interesting.

This is just a scenario because i can not see why the upside should continue, the leg down to 3305 does not look like an ABC correction , it looks more like an A first leg of downside correction but im probably wrong so i will stay on the sideline with GU for now.
Follow The Markets Structure - Patience and Discipline
  • #839,812
  • Sep 27, 2024 8:38am Sep 27, 2024 8:38am
Quoting Alorente
{quote} Terrible news for USD and still no breakout. What does that tell you? There are many longs with sweaty palms right now who were expecting a breakout on the news. That does not mean that a breakout cannot happen. It just means it is unlikely and the path of least resistance should be down.
Facts sir. If Pipfarm's 300 pips down happens that would be great.
  • #839,813
  • Sep 27, 2024 8:40am Sep 27, 2024 8:40am
Quoting Zebi
people have to ask themselves which country and economy is like the 6 million dollar man https://youtu.be/ehiQk6fta2c?t=94 a little island country or the biggest superpower with the currency that rules the world two daily charts for ur consideration gentlemen..the dollar and GBP...concentrate on the lines I drew from sept 16th you have one currency that's at a multiyear support area on the monthly and then you have a pissant currency that's been falling since margret thatchers time in the 1980's that's "breakingout" without any...
Technically USD has not formed the monthly support however GBPUSD has already broken out of it's monthly resistant zone above monthly range.

Until USD formed it's monthly support to create a balance, we cannot see a reversal to the upside.

Hopefully with close of the current month.
Market Structure is the King.....
  • #839,814
  • Sep 27, 2024 8:45am Sep 27, 2024 8:45am
Quoting pipfarm
{quote} This is just a scenario because i can not see why the upside should continue, the leg down to 3305 does not look like an ABC correction , it looks more like an A first leg of downside correction but im probably wrong so i will stay on the sideline with GU for now.
I agree with your analysis. I am in Santander, what part of Galicia are you at?
Observation is the path to discovery.
  • #839,815
  • Sep 27, 2024 8:46am Sep 27, 2024 8:46am
Quoting Alorente
{quote} I agree with your analysis. I am in Santander, what part of Galicia are you at?
What makes you think i am at Galicia?
Follow The Markets Structure - Patience and Discipline
  • #839,816
  • Edited 9:16am Sep 27, 2024 8:47am | Edited 9:16am
Testing limit , closed short to see

Similarly if eurusd test limit the gbpusd may even breaks it ! Waiting


Broken gu limit ! Logically short to go from any bounce now !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: download - 2024-09-27T174645.466.png Size: 16 KB
Click to Enlarge Name: download - 2024-09-27T175600.531.png Size: 14 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #839,817
  • Sep 27, 2024 8:47am Sep 27, 2024 8:47am
And the drop…
Insane in the Brain..
  • #839,818
  • Sep 27, 2024 8:47am Sep 27, 2024 8:47am
Quoting pipfarm
{quote} What makes you think i am at Galicia?
Sorry, I confused you with someone else.
Observation is the path to discovery.
  • #839,819
  • Sep 27, 2024 8:49am Sep 27, 2024 8:49am
Quoting pipfarm
{quote} {image}
I see the B as a butterfly. Close below 0.889 is acceptable. Can you enlighten me on the reason why B is invalid ?

Thanks.
Market Structure is the King.....
  • #839,820
  • Sep 27, 2024 8:56am Sep 27, 2024 8:56am
Quoting Abeylyn
{quote} I see the B as a butterfly. Close below 0.889 is acceptable. Can you enlighten me on the reason why B is invalid ? Thanks.

B usually goes abc B and the internal structure is not clear enough for me, 0.889 ? that is not GU
Follow The Markets Structure - Patience and Discipline
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