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Cable Update (GBPUSD)

  • #847,721
  • Dec 9, 2024 9:27am Dec 9, 2024 9:27am
Quoting pipfarm
GBPUSD D1 is above W1 so looking for longs H1 made a correction ABC via the larger degree wave so we need H1 to trend via the smaller degree waves to take longs which means a pb then a break out into a trend. Photo shows the full structure on M15 {image}
How does your wave count of 5 from your chart of 1st December match or fit in with this chart ABC ? Because it doesn't appear as if could.
Of course it doesn't have to but wouldn't it alter your forecast ?
  • #847,722
  • Dec 9, 2024 9:30am Dec 9, 2024 9:30am
Quoting dr.tradelove
{quote} Closed the upper for a couple of pips. Holding the lower at b/e but not confident it will run.

Punting for Friday's high around 1.2810. EJ would have been a much more comfortable ride today.
  • #847,723
  • Dec 9, 2024 9:35am Dec 9, 2024 9:35am
Quoting dempire1
{quote} BOS/choch and all that is very very subjective. Have you tried to program this and saw what happens? it works pretty well after it happened.

I'm quite cynical of ICT / SMC, personally think its reconstituted (rebadged) wycoff theory with catchy up to date names. My experience of SMC, is it works and works well but you have to get BOS / CHoCH right. The market structure is critical, get it wrong and might as well toss a coin.
  • #847,724
  • Dec 9, 2024 9:41am Dec 9, 2024 9:41am
Quoting M31
{quote} I'm quite cynical of ICT / SMC, personally think its reconstituted (rebadged) wycoff theory with catchy up to date names. My experience of SMC, is it works and works well but you have to get BOS / CHoCH right. The market structure is critical, get it wrong and might as well toss a coin.
Aka coin flip
How to succeed in zero sum game?
  • #847,725
  • Dec 9, 2024 9:43am Dec 9, 2024 9:43am
Quoting suhas316
GBP USD {image}
Attached Image (click to enlarge)
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!! Radha Radha !!
  • #847,726
  • Dec 9, 2024 9:43am Dec 9, 2024 9:43am
Quoting Chancy
{quote} How does your wave count of 5 from your chart of 1st December match or fit in with this chart ABC ? Because it doesn't appear as if could. Of course it doesn't have to but wouldn't it alter your forecast ?

D1 was and is going up against the weekly which in the current larger D1 cycle could be viewed as corrective however i do not have psychic powers to know if the wave down is ending or if the correction is extending.

Therefore i assumed from the chart that the ABC with 5 waves in C may be the end of the correction and waited for a continuation move down ( first wave down) then would look for an entry, this never happened so never made any short trades.

Currently H1 made another ABC correction within the D1 upswing so it looks like the wave is extending or we may be seeing a reversal to the upside.

Either way understanding the corrective/impulsive cycles within the right context of wave degree will give you the clues as to what to do next.
Follow The Markets Structure - Patience and Discipline
  • #847,727
  • Dec 9, 2024 9:52am Dec 9, 2024 9:52am
Quoting dr.tradelove
{quote} Punting for Friday's high around 1.2810. EJ would have been a much more comfortable ride today.
Stop @ entry +18
  • #847,728
  • Dec 9, 2024 9:53am Dec 9, 2024 9:53am
Come on wedjey
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yes yes yes
  • #847,729
  • Dec 9, 2024 9:54am Dec 9, 2024 9:54am
GJ not showing any signs of slowing down. Taken a long at 19333 TP unknown so far but might see how it goes maybe 194 not sure
Insane in the Brain..
  • #847,730
  • Dec 9, 2024 10:17am Dec 9, 2024 10:17am
Quoting Moty
Short for 25 pips 12 pips sl {image}
Stopped out
Again for 22 pips
Exit trade is oscillator gives opposite signal
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yes yes yes
  • #847,731
  • Dec 9, 2024 10:22am Dec 9, 2024 10:22am
Quoting dr.tradelove
{quote} Stop @ entry +18
Stop just been tapped. Out for the day.

Attached Image (click to enlarge)
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  • #847,732
  • Dec 9, 2024 10:55am Dec 9, 2024 10:55am
Quoting suhas316
GBP USD {image}
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!! Radha Radha !!
  • #847,733
  • Edited 11:13am Dec 9, 2024 10:59am | Edited 11:13am
bull not done any great after morning sudden u turn ! anyway after 2788 signal , waiting for next signal at 2762 and early confirmation again at 2750! without confirmation may test previous high 2810 and new high 2824 possible without changing pa any great from now though!
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #847,734
  • Dec 9, 2024 11:09am Dec 9, 2024 11:09am
Come on mister wedgey
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yes yes yes
  • #847,735
  • Dec 9, 2024 11:18am Dec 9, 2024 11:18am
Quoting suhas316
{quote} {image}
My buddy,

You've edited your strategy. The supply zone suppose to be positioned at last week high just touched by the price inline with your footprint that I studied.

I think I got the point you are trying to make but that zone remains subjective as entry zone. It may be there or lower.
Market Structure is the King.....
  • #847,736
  • Dec 9, 2024 11:26am Dec 9, 2024 11:26am
Quoting Abeylyn
{quote} My buddy, You've edited your strategy. The supply zone suppose to be positioned at last week high just touched by the price inline with your footprint that I studied. I think I got the point you are trying to make but that zone remains subjective as entry zone. It may be there or lower.
My strategy base is same .... Support and Resistance with FVG. But I love to try different things with my base strategy.
!! Radha Radha !!
  • #847,737
  • Dec 9, 2024 11:28am Dec 9, 2024 11:28am
Quoting Moty
{quote} Stopped out Again for 22 pips Exit trade is oscillator gives opposite signal {image}
Opposite signal gave 11 pips
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yes yes yes
  • #847,738
  • Dec 9, 2024 11:31am Dec 9, 2024 11:31am
Again for 15 pips
10 pips sl
The wedge had broken down
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yes yes yes
  • #847,739
  • Dec 9, 2024 11:49am Dec 9, 2024 11:49am
Quoting Moty
Again for 15 pips 10 pips sl The wedge had broken down {image}
please make come back moty
Master your mind. Master Trading.
  • #847,740
  • Dec 9, 2024 11:58am Dec 9, 2024 11:58am
Quoting Pat Chiko
{quote} GJ updating scalping position{image} P/S = not a trading signal, it is my newbie view only.
GJ

Updating scalping position

The was set up
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The trades (waititng room upside to end the long.
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P/S wanted to write full report for price projection by my C.H.I.K.O( AI algo) not in fullly charged today, as I m still travelling
I come from the future.
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