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Cable Update (GBPUSD)

  • #840,281
  • Oct 2, 2024 2:55am Oct 2, 2024 2:55am
Quoting Yngwie
Sold 1.3298 SL 1.3318 TP 1.3248
Hello friend,

Can you lead me into the reason why you Sell at this point ?

Not to query your expertise but for my own enlightenment.

Thanks.
Market Structure is the King.....
  • #840,282
  • Oct 2, 2024 3:07am Oct 2, 2024 3:07am
...next fib cluster to downside below y/day's lo - a 3 fib cluster 3218-14. There are three (number) fib clusters going up above current dly hi - the 1st being 3307-13, a 4 fib cluster.

There is a repeating pattern of bearish hidden div on my 2 x osc's on 1hr t/f presently @ current dly hi. This could develop further on any further move up and may stay valid whilst under 3385. Not sure we got a downtrend on next higher t/f - 4hr yet, but we do have y/day's big bearish dly candle I guess and so far the week is bearish overall.

1hr below
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Trader with an Edge.
  • #840,283
  • Oct 2, 2024 3:12am Oct 2, 2024 3:12am
Good morning all! My view on GU today
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  • #840,285
  • Oct 2, 2024 3:16am Oct 2, 2024 3:16am
Supporting at 13280 at the moment. Bears need a break below for 60-40-20-00. Likewise bulls need 90 to break for 3300-3310
Insane in the Brain..
  • #840,286
  • Oct 2, 2024 3:26am Oct 2, 2024 3:26am
So far London opening goes to Bulls. It will be interesting to see how far up the bulls go. It could be a retrace day ..
Insane in the Brain..
  • #840,287
  • Oct 2, 2024 3:32am Oct 2, 2024 3:32am
Quoting BeeTogether
So far London opening goes to Bulls. It will be interesting to see how far up the bulls go. It could be a retrace day ..
Hi, you know they say economics is the art of explaining today what happened yesterday lol,! well maybe y/day was a reaction to the unfolding Israel/Lebanon/Iran thing, and a continued reaction to Jay Powell's remarks the evening before? Anyways, like you say we could see some further upside, but I wouldn't be surprised if the bears didn't try to 'sell the rally' @ some point?
Trader with an Edge.
  • #840,289
  • Oct 2, 2024 3:35am Oct 2, 2024 3:35am
Quoting Headland
{quote} Hi, you know they say economics is the art of explaining today what happened yesterday lol,! well maybe y/day was a reaction to the unfolding Israel/Lebanon/Iran thing, and a continued reaction to Jay Powell's remarks the evening before? Anyways, like you say we could see some further upside, but I wouldn't be surprised if the bears didn't try to 'sell the rally' @ some point?
I’m thinking the same. Not sure at which point either. There is some US data that could help the bears wake up a bit
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Insane in the Brain..
  • #840,291
  • Oct 2, 2024 3:52am Oct 2, 2024 3:52am
checking news , only high impact ADP noin farm employment and likely price go high as possible to absorb the shock but it exaggerated repeatedly to up at an earliest , might have correct and healthy bounce now ups , anyway price may sit over 3277 or 64 or more failure mode 50 before the news possible ! lets see
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #840,292
  • Oct 2, 2024 3:52am Oct 2, 2024 3:52am
Quoting BeeTogether
So far London opening goes to Bulls. It will be interesting to see how far up the bulls go. It could be a retrace day ..
when you say retrace day, im not sure.
except 1h rest is bullish.
4h is still bullish IMO, only new low will flip it.
  • #840,293
  • Oct 2, 2024 3:58am Oct 2, 2024 3:58am
Quoting Whale
{quote} when you say retrace day, im not sure. except 1h rest is bullish. 4h is still bullish IMO, only new low will flip it.
i mean usually Wednesdays are when we see a against trend day. Last week on a bullish trend we dropped by over 100 pips before Thursday and Friday took us back over 134 albeit briefly

this week has largely been bearish but today could be a bullish day before a drop tomorrow? Having said that my analysis is a bit messed up since the drop yesterday
Insane in the Brain..
  • #840,294
  • Oct 2, 2024 4:04am Oct 2, 2024 4:04am
Short
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  • #840,296
  • Oct 2, 2024 4:17am Oct 2, 2024 4:17am
This is a trading forum


no politics, religion etc


thank you
Follow The Markets Structure - Patience and Discipline
  • #840,297
  • Oct 2, 2024 4:25am Oct 2, 2024 4:25am
This politics and religion here will only end in arguments apart from that it is a violation of the code of conduct on the forum


On to trading

GU H1 in correction

MMs pattern at the lows A (abc B) C the B is the mms pattern taking liquidity both sides

Target what has not been tested or where liquidity lays for more shorts 3331- 3348 , all other liquidity zones above have already been targeted.
Follow The Markets Structure - Patience and Discipline
  • #840,298
  • Oct 2, 2024 4:28am Oct 2, 2024 4:28am
...2nd 30min upside b/o of Asian hi proves false, as sellers come in @ current dly hi. Asian lo presently remains the current dly lo., and is above y/day's / current wkly lo. 30min rising wedge present,? possibly even a 4hr bear flag (of sorts?)

1hr below
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Trader with an Edge.
  • #840,299
  • Oct 2, 2024 4:34am Oct 2, 2024 4:34am
Quoting Yngwie
Sold 1.3298 SL 1.3318 TP 1.3248
closed 15p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #840,300
  • Oct 2, 2024 4:44am Oct 2, 2024 4:44am
Quoting pipfarm
This politics and religion here will only end in arguments apart from that it is a violation of the code of conduct on the forum On to trading GU H1 in correction MMs pattern at the lows A (abc B) C the B is the mms pattern taking liquidity both sides Target what has not been tested or where liquidity lays for more shorts 3331- 3348 , all other liquidity zones above have already been targeted.
GU 15 minute pulling back a bit again same pattern , make a new high break it the down side, back to liquidity zone then up to continue the H1 move up , this is a constant repeating pattern of how the markets move.

EURUSD - same H1/M15 scenario
Follow The Markets Structure - Patience and Discipline
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