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Cable Update (GBPUSD)

  • #846,501
  • Nov 27, 2024 3:49am Nov 27, 2024 3:49am
Quoting Pat Chiko
{quote} EURO The trend is still down for now, and the market is pretty choppy. The current move to the upside could easily just be a correction of the last downward move. As long as it doesn’t break the highs at the aqua resistance line, the bias remains bearish. I’m looking for short opportunities around Fibonacci levels for a possible continuation of the downtrend. {image} Since it’s a holiday week in the U.S., the market is likely to be even more unpredictable, especially after today. (time to take a break from market) As a scalper, not a swing...
This is exactly the momment NOT TO TAKE a brake from market , mate.

  • #846,502
  • Nov 27, 2024 3:51am Nov 27, 2024 3:51am
In short 1.2603

tp-1.2496
sl-1.2628
  • #846,503
  • Nov 27, 2024 3:52am Nov 27, 2024 3:52am
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I expected to go a bit higher..... It might do so. BUT I lift my SLs close to PA , as shown.

and I repeat......... taking brakes from market at the WRONG TIME is the main reason of losses.....

  • #846,504
  • Nov 27, 2024 3:55am Nov 27, 2024 3:55am
Quoting Headland
...I have bullish hidden div present on 5min which may stay good on any deeper drop so long as price stays above 2573. Not exactly a next higher t/f (+) convincing uptrend though re 30min - more rangy with a current upside bias - this may be a p/back from current dly hi and then a 2nd upside b/o of the range though? We'll see - lo probability set-up though, ie below 50%.

You can see that set-up quoted above and it's subsequent progress here, below. Bulls/dip buyers are struggling to see an upside follow-thru right now though, to a new current dly hi.

5min below
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Trader with an Edge.
  • #846,505
  • Nov 27, 2024 4:06am Nov 27, 2024 4:06am
...so, Asian hi 1st upside b/o remains true so far, but 1st slight upside b/o of y/day's hi was false, - price challenging prev 30min sw hi = pot res to it right now.

1hr below
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Trader with an Edge.
  • #846,506
  • Nov 27, 2024 4:06am Nov 27, 2024 4:06am
Quoting Pat Chiko
{quote} Cable {image} Im guessing price will go up and go to the TP....
CABLE

The trend is still clearly down unless it breaks this key structure level.
For now, it looks like we could be in a wave four, possibly forming an ABC correction within wave C.
The price might climb to one of the Fibonacci levels before turning back down.
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If this is wave three, there’s significant downside potential.
If not, it might be forming another 333 pattern on the monthly chart, which could either break structure to the upside or start a correction on the daily time frame.

Based on the recent push upward, I think we’re looking at five waves up for A, three waves down for B, and possibly still in a wave C.
If the price reaches one of these Fib retracement levels and makes a strong, engulfing move down—especially with a break in structure—it could be a good shorting opportunity to ride the downtrend.

However, if the price breaks the key structure to the upside, it’s time to shift focus from shorts to looking for long setups.

The above just my guessing only, Don't take it seriuosly.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #846,507
  • Nov 27, 2024 4:09am Nov 27, 2024 4:09am
Quoting F.g
{quote} This is exactly the momment NOT TO TAKE a brake from market , mate.
Im tired and need a rest , spending ike 8 hours a week looking at chart,.
Thus it is time to take a rest and come back referesh.

If I can make some money this week, then i take a bit longer break, if not i come back ASAP.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #846,508
  • Nov 27, 2024 4:13am Nov 27, 2024 4:13am
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yes yes yes
  • #846,509
  • Nov 27, 2024 4:15am Nov 27, 2024 4:15am
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yes yes yes
  • #846,510
  • Nov 27, 2024 4:16am Nov 27, 2024 4:16am
Quoting Pat Chiko
{quote} Im tired and need a rest , spending ike 8 hours a week looking at chart,. Thus it is time to take a rest and come back referesh. If I can make some money this week, then i take a bit longer break, if not i come back ASAP.
What an irony. I can stay without looking at the chart daily. Just like fish taken out of water lo!
Market Structure is the King.....
  • #846,511
  • Nov 27, 2024 4:18am Nov 27, 2024 4:18am
...last gmt+2hrs 4hr candle closed bullishly 18mins or so ago. Potential sbr layered on that t/f @ and above current dly hi. Did I mention the 7 fib cluster 2617-30?

4hr below
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Trader with an Edge.
  • #846,512
  • Nov 27, 2024 4:31am Nov 27, 2024 4:31am
Quoting Abeylyn
{quote} This is the appropriate time to Short. Stoploss 12 pips above the zone. I am under water and will manage my trade.
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Market Structure is the King.....
  • #846,513
  • Nov 27, 2024 4:39am Nov 27, 2024 4:39am
...so, bulls and buy the dip types still struggling to see a new current dly hi...who would give odds against it now though? I think it is likely at some point, but I don't know the actual probability.

I think Pat is right re his analysis above, a break and clear above that 2716 level (last LH on dly t/f, re it's downtrend) might alleviate some of the underlying bearishness on that t/f?
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Trader with an Edge.
  • #846,514
  • Nov 27, 2024 5:07am Nov 27, 2024 5:07am
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Patience pays us............ The final push to the top is occurring now , in front of our eyes.....

Hope Pat has not taken his break............

  • #846,515
  • Nov 27, 2024 5:12am Nov 27, 2024 5:12am
...it was the effective HL's of the 1hr and 4hr rising triangles that gave the clue that the then current dly hi would break to the upside coupled with one on the 5min that began @ that pullback lo of 2592 where the bullish hidden div mentioned earlier was. But, there is a lot of potential sbr/res overhead and price @ the new current dly hi is into that now world famous 7 fib cluster, and deeper into that prev 1hr/4hr sw lo zone = pot sbr.

5min below
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Trader with an Edge.
  • #846,516
  • Nov 27, 2024 5:17am Nov 27, 2024 5:17am
Quoting Headland
...it was the effective HL's of the 1hr and 4hr rising triangles that gave the clue that the then current dly hi would break to the upside coupled with one on the 5min that began @ that pullback lo of 2592 where the bullish hidden div mentioned earlier was. But, there is a lot of potential sbr/res overhead and price @ the new current dly hi is into that now world famous 7 fib cluster, and deeper into that prev 1hr/4hr sw lo zone = pot sbr. 5min below {image}
Talking my mind.

Great men discuss ideas .....
Market Structure is the King.....
  • #846,517
  • Nov 27, 2024 5:17am Nov 27, 2024 5:17am
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heavily LONG here , crew..................................

  • #846,518
  • Edited 5:38am Nov 27, 2024 5:22am | Edited 5:38am
Quoting Abeylyn
{quote} Talking my mind. Great men discuss ideas .....
Hi. Yes, civilized people can do that without throwing insults around, even if some ideas put forward might run contrary to their own. They are not threatened by them and understand that they can do them no harm. They retain an open mind to other ideas, and don't believe a couple of articles they came across on the internet to be 'gospel,' with all the fervour/intellectual enquiry of an average 'A' level student, just because they support their own narrow narrative, borne only of their own experience. There are no exponents like the converted lol! - they like to shout it from the rooftops! (Yiiiiiikes! - insults incoming!)
-------------
Quoting F.g
{image} heavily LONG here , crew..................................
Hi. Hope it works out for you. As Pat alluded to earlier, the 4hr and dly general downtrends are still present, and wkly is overall bearish still. Intraday has been bullish so far today, with 1hr and 30min rangy-bullish. It's hard not to think that the bears might still be present re the 4hr+ general downtrends, after the pullback from last week's 2487 lo, - waiting to strike at some point? We'll see.

1hr below
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Trader with an Edge.
  • #846,519
  • Nov 27, 2024 5:47am Nov 27, 2024 5:47am
Quoting Waveskierrob
{quote} Come on Euro Bulls BE now at 1.0620...
Looks to me Euro is well bid now so 1.0620 in the next couple of days I'm tipping but all it requires is some tiny piece of negative news and the market shits itself
Don't Leave Money on the Table
  • #846,520
  • Nov 27, 2024 5:47am Nov 27, 2024 5:47am
Quoting Pat Chiko
The Perfect Trader {image} Why Perfectionism Will Destroy Your Trading If you're a perfectionist, trading will drive you insane.
The Perfect Trader

The above forwarded from my post in August.

"Striving for perfection in trading is a fool’s errand.
It will only leave you frustrated and broke.
Instead, embrace imperfection."
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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