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Cable Update (GBPUSD)

  • #842,681
  • Edited 1:42am Oct 21, 2024 1:09am | Edited 1:42am
waiting for a correction up before final down next possible . breaks low and back possible , 3016,take care
signal up may 3032 , 36 for 45 /50 possible . where over 40 may consider short !
looks some crazy news like movements continue down , may 3000 test or low once for all bounce then possible .
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #842,682
  • Oct 21, 2024 1:13am Oct 21, 2024 1:13am
...there is a repeating pattern of 4hr bearish hidden div @ Fri's hi, but no real next higher t/f (dly) downtrend to enter after the pullback....but the downmove may turn out to be the start of a downtrend?

4hr below
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Trader with an Edge.
  • #842,683
  • Oct 21, 2024 1:17am Oct 21, 2024 1:17am
Quoting Headland
...there is a repeating pattern of 4hr bearish hidden div @ Fri's hi, but no real next higher t/f (dly) downtrend to enter after the pullback....but the downmove may turn out to be the start of a downtrend? 4hr below {image}
some decent support here but nothing to indicate a bounce up to the daily opening area too. We are entering a lot of former resistance areas such as 13020 13000 and 12980. If the last one breaks we could see an attempt at the monthly lows too.

With no real data for most of the week it could be a big technical week
Insane in the Brain..
  • #842,684
  • Oct 21, 2024 1:23am Oct 21, 2024 1:23am
Quoting BeeTogether
{quote} some decent support here but nothing to indicate a bounce up to the daily opening area too. We are entering a lot of former resistance areas such as 13020 13000 and 12980. If the last one breaks we could see an attempt at the monthly lows too. With no real data for most of the week it could be a big technical week
An indication that Bear is in full control. It's going to be a massive movement.
Market Structure is the King.....
  • #842,685
  • Oct 21, 2024 1:28am Oct 21, 2024 1:28am
Quoting Abeylyn
{quote} An indication that Bear is in full control. It's going to be a massive movement.
my personal thoughts are we need to see a break below 12950 for the bears to be in control. However with the US elections on a knife edge this could swing either way.
Insane in the Brain..
  • #842,686
  • Oct 21, 2024 1:38am Oct 21, 2024 1:38am
Quoting BeeTogether
{quote} my personal thoughts are we need to see a break below 12950 for the bears to be in control. However with the US elections on a knife edge this could swing either way.
Exactly, 1.2960 in my book but at that point, it's going to be a roller coaster.

Currently, is the beginning of a bearish party where Short term positions key in there interest.

Then, trade management will filter any noise in the process...
Market Structure is the King.....
  • #842,687
  • Oct 21, 2024 1:39am Oct 21, 2024 1:39am
...nice move down. Dropped now to that 3015-11 3 fib cluster with Dly S1 @/around bottom of it. 52% 30day adr traveled sao far today. Watching to see how this gmt+3hrs price feed 4hr candle closes @ top of this hour.

1hr below
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Trader with an Edge.
  • #842,688
  • Oct 21, 2024 1:43am Oct 21, 2024 1:43am
GBPUSD

Bears are in FULL CONTROL ,

Break down , correction back to 3067 which is the Resistance of the prior swing broken then gets retested and price trends back down to continue the larger degree trend. Entered early after looking at the correction A (B downside expansion) C impulse and decided it had run its course.

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Follow The Markets Structure - Patience and Discipline
  • #842,689
  • Oct 21, 2024 1:57am Oct 21, 2024 1:57am
...gotta luuuuuuuuuve that 3 fib/Dly S1 cluster @ current dly lo...price met buyers there, probably cleared out some retail sell stops, and maybe even buy limits below that prev 1hr/4hr sw lo zone that begins @ 3020. Price remains within Fri's hi and lo, and of course within last wk's hi and lo, correct as of writing.

1hr below
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Trader with an Edge.
  • #842,690
  • Oct 21, 2024 2:01am Oct 21, 2024 2:01am
trying a long here off 4hr support to 4hr resistance around 3250
Compulsions can be hard to resist
  • #842,691
  • Oct 21, 2024 2:04am Oct 21, 2024 2:04am
Quoting Konichiwhaat
Big Friday? {image}
Additional long term trade triggered at 3020. Risk road map in place... lets see
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Emotional Control. Process, not outcome.
  • #842,692
  • Oct 21, 2024 2:07am Oct 21, 2024 2:07am
...wide pot sbr zone on 4hr. Intraday still bearish overall so far, 4hr in a general downtrend, 1hr mixed - ie probably rangy - currently bearish.

4hr, then 10/20/40 ema crosses graphic below
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Trader with an Edge.
  • #842,693
  • Oct 21, 2024 2:14am Oct 21, 2024 2:14am
Quoting trumps
{quote} So the minority then. I thought that was the idea... I know very little about ICT, but from the little Ive read, it looks to follow the smart money, "The ICT trading model is quite successful among many traders for its structured approach to market analysis. It emphasizes understanding market behavior, institutional order flow, and key price levels. https://fbs.com/fbs-academy/traders-...key-techniques But to be honest, I have no idea if his model is ICT. Maybe ask him.
Hi. Thank you for your reply to Zebi over the w/e. Re ICT - yes I've heard of it too, but never seen a video or read a word of his teachings. I developed the technical trading edge I have used for years in conjunction with another trader who used to post here and elsewhere, many years ago.
Trader with an Edge.
  • #842,694
  • Oct 21, 2024 2:30am Oct 21, 2024 2:30am
Trying a long here at 13030 maybe retest 13050
Insane in the Brain..
  • #842,695
  • Oct 21, 2024 2:34am Oct 21, 2024 2:34am
Quoting BeeTogether
Trying a long here at 13030 maybe retest 13050
Yes this bounce can be 3049 pullback to bull back possible ! Waiting for 49
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #842,696
  • Oct 21, 2024 2:39am Oct 21, 2024 2:39am
...the 4hr part of that prev 1hr/4hr sw lo zone = pot sbr that starts @ 3020, is as said earlier - wide, it extends up to circa 3043, just above the new wkly pivot and today's dly pivot (@/around 3041 and 3042 respectively,) - which have both been breached to the downside in the run down to 3012 current dly lo. Some fibs in there.

1hr below
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Trader with an Edge.
  • #842,697
  • Oct 21, 2024 2:43am Oct 21, 2024 2:43am
Quoting trumps
trying a long here off 4hr support to 4hr resistance around 3250
Scratch that, going with original plan...
Compulsions can be hard to resist
  • #842,698
  • Oct 21, 2024 2:54am Oct 21, 2024 2:54am
Damn that one didn’t work too well. Will hold until 130
Insane in the Brain..
  • #842,699
  • Edited 3:15am Oct 21, 2024 3:04am | Edited 3:15am
Quoting BeeTogether
Damn that one didn’t work too well. Will hold until 130
Hi. Anything can happen so you never know. 3001 is last mth's lo. That's the thing about oscillator divergences/extremes, - they can get you in sooner - right at the swing point, (@ pre-identified potential supp/res,) if PA confirms it. 5min (oh no - I mentioned 5min - hope this doesn't trigger Zebi again, lol!) below as an example, @ that current dly lo. I use osc div in my own trading edge, but not just div - I do use another factor too that I don't show in my postings here as it is proprietary Ip. So I look for repeating patterns of osc divergence (regular or hidden,) channel breaches, (and one other factor) confluence @ pre-identified pot supp/res/sbr/rbs [on the relevant t/f (s,)] - all/if confirmed by PA, to effect an entry on the lowest t/f possible.
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Trader with an Edge.
  • #842,700
  • Oct 21, 2024 3:11am Oct 21, 2024 3:11am
Quoting 7154Superman
{quote} So, while I wait for my underwater EUR/USD longs to turn into profit, I decided to open another account and use my remaining available margin to trade with 1 : 1.12 Risk Reward Ratio for short term scalping only. I've never really tried this method before consistently. So, I will be using my best predictive edge (as well as others here on FF) to try to maintain more wins than losses. The reason for using 1.12 ratio for TPs is because if you lose, for example, 1%, then you need to make back 1.12% to break even again. So, right now, I shorted...
I ended up entering scalp positions on 9 different currency pairs, then went to sleep. Woke up with 5 wins and 1 loss, 3 still open. So far, so good. Opened 3 more. Back to sleep.
See my Trade Explorer for details.
You cannot fail if you never give up.
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