Cable Update (GBPUSD)

We can get a room, or we can go public. I'm easy LOL

bulls only chance is to close above that line on daily so the head and shoulders crowd starts in and makes a bounce to 3200 which shud be shorted LOL

a close under and good bye charlie to the bulls

Neither internal nor external structure shift occurred at the swing low, why wasting margin?
Price need to break above 1.31 to put the probability in favour of long side to push to 1.33.
If failed to do so, 1.29 is the next support zone, and even at this support zone, price may hold, and it does not mean it will bounce to 1.325 area, unless price structure confirms it

My short term directional bias is still bearish until yesterday high is taking out. Until now, only sell

GU


This is my guessing on GU based on my scalping strategy.
I hope to get luck here and hope to get some tiny profit from the scalp.


GU is approaching a critical point, with the potential for an engulfing move and a possible break of structure on the lower time frames.
If structure breaks, it could confirm a downward movement, either forming a running flat with higher lows or an expanding flat with lower highs.

We may be reaching a decisive moment to confirm the move to the downside.

Note that on the weekly time frame, price is right at a key structure level, which could signal whether a significant downward move is imminent.
On the daily time frame, the release of UK CPI data had a negative impact on GBP.

If the structure holds and reverses, we may see the potential for a long opportunity.
A break of this structure could signal a bullish reversal. (light salmon)

The next move should likely be a correction, such as a wave B or wave 2, to the previous downward move.

Alternatively, if price breaks decisively through structure with strong momentum and holds below, it would suggest that this isn't a wave 3-4-5 sequence but rather a running flat or expanding flat pattern.




On H4, price has formed a sequence of three waves up, followed by successive lower highs, presenting an excellent short entry opportunity.



On H1, we've seen one-two-three waves up, down, and up again (sound like waveskierrob strategy Up/down/up/down)—an Elliott Wave WXY pattern (three waves down, three up, three down, three up), culminating in an engulfing move downward.

The ideal short entry appeared yesterday afternoon, with multiple one-two-three patterns signaling continuation of the downtrend.
This move may not be over yet, as price could be approaching wave 4 and 5.

If I price break the key resistance box (highlighted in light salmon) break to the upside, I may shift to a buying stance , signaling a major structural shift.

This is however, just my guessing as 99.8% of my guessing is wrong, I took this idea from Best trader ever V9.3

Enjoy it and good livck.

Couple of days off, anyway that cable long was a no go, so took a loss but we went below 1.3000 which if any of you remember i mentioned this when i first identified the change in market conditions at the high.

So we could actually be starting swing 3 of the D1 correction as H1 is showing a larger degree correction ABC and then the drop, so for the moment shorts only for me if there is an opp.

Now

I think, bears have already won this Quarter. Even if its closes above today's high tomorrow.

Scalping long closed and short starts as approaching 3035 , take care
Watching reaction as testing 3035 , signal 3028 , confirmation 3013

You can take profit here
A 6 pips sl to 12 pips profit trade

closed + 45,4 pips

Luv your humor ma'am

[quote=pipfarm;15030255]Couple of days off, anyway that cable long was a no go, so took a loss but we went below 1.3000 which if any of you remember i mentioned this when i first identified the change in market conditions at the high. So we could actually be starting swing 3 of the D1 correction as H1 is showing a larger degree correction ABC and then the drop, so for the moment shorts only for me if there is an opp.[/quote

Yeah! Short only @ 1.3050/1.3060 with proper risk management.

Waiting for pullback to touch the zone to make necessary adjustments on existing positions.

You are welcome back bro.

eur usd audusd and nzdusd all broke 4 hr resistance and are continuing to daily resistance i beleive gbpusd will follow suite

Nice to wake up to that limit order being hit, surprised that went through throu despite spreads I would like 147

Could it was a bear's trap all the way ?
Last time the was at 1.30374
If it will close again there , then i see a 1.31000 + tommorow

I close my long here NOW 45 pips , but I am not sure this is the correct thing to do..............

I must cover yesterday's loss from the longs....

scalp closed, nice long run left

Thought we would see 3040