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Cable Update (GBPUSD)

  • #852,181
  • Edited 11:28pm Jan 30, 2025 9:42pm | Edited 11:28pm
Checking pa , daily last leg up withing last down still , reversal attempt and bottom forming ! Last leg up looks in impulse in daily but actually in correction format in smaller tf ! If reversal attempt next then may in impulse burst up and needed then a logical correction or accumulation in the bottoming.
So waiting breaks 2376 down first and other consequences next ! Starts with 2405 again ! Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #852,182
  • Jan 30, 2025 11:45pm Jan 30, 2025 11:45pm
Tweet schmeet,
Just checked the charts and Trump tweet timing is impeccable off resistance.
Still watching below for buy opps.
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Compulsions can be hard to resist
  • #852,183
  • Jan 31, 2025 12:55am Jan 31, 2025 12:55am
Quoting Abeylyn
{quote} Most technicians are on same page. The only controversy is whether price will break yesterday's low to the downside to test 1.2342/50 zone before continuity in Bull run... Anyhow, trade management is key.
Still holding on to my long.

Just a point needed to be confirmed for additional risk appetite.

It takes stronger Mitiblotch & Teprewi to milk the setup..
Market Structure is the King.....
  • #852,184
  • Jan 31, 2025 12:56am Jan 31, 2025 12:56am
Quoting Fardeen1209
{quote} Nice scalping setup, same with mine, even tho i stopped trading GU, long time ago {image} Swing failure BO/RT.
Swing or Trend continue...
GU
More up is expected to come.
D1
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Today, based on US Core PCE flat to falling, both of which is expected to push yield down
H4
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Price reach 12700, we will get an external structure shift.
More time in the market, does not mean you trade better!
  • #852,185
  • Jan 31, 2025 1:00am Jan 31, 2025 1:00am
Quoting Fardeen1209
GU More up is expected to come. D1 {image} Today, based on US Core PCE flat to falling, both of which is expected to push yield down H4 {image} Price reach 12700, we will get an external structure shift.
Yeah, 1.27xx is well identified.

The headache is the zigzag moves on the way. Except traders with entry from extreme low.

My own headache is either price will continue the bull run with the low established @ 1.2390 or rather the low will be broken to test a new support @ 1.234xx.

Anyhow, it's going to be historical.
Market Structure is the King.....
  • #852,186
  • Edited 1:28am Jan 31, 2025 1:11am | Edited 1:28am
Quoting Abeylyn
{quote} Yeah, 1.27xx is well identified. The headache is the zigzag moves on the way. Except traders with entry from extreme low.
Indeed it is a headache when you are trying to trade on lower timeframe (anything below M30).
The goal of trading is not to be right on the zigzag count, but to be on the right side of perceived value of majority of participants.
If i can perceived price is moving from 1.241 to 1.27, that almost 300pips trade from a 20pip SL.
How long or many waves it will take for price to move to target, is not my problem, the only factor my edge defines, is the probability are skewed from price to move 300 pips from here. And the fundamental and technical are both alligned..
Thats enough for me.

But EW can give an idea to play with the zigzag, if properly count the subwave. Market structure also give an insight whether price will reach to target or engulf the up move and reverse before reaching target.

EDIT:
My thought process based on the H1 Chart and my Entry for swing position add-ons. Personally based on the chart 1239 low is already made. Less chances for a sweep below that level, unless Core PCE comes out higher than expected (into the unknown just like Elsa from Frozen II)
H1
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More time in the market, does not mean you trade better!
  • #852,187
  • Jan 31, 2025 1:19am Jan 31, 2025 1:19am
GBP H4 expansion phase in place for the last few days. Accumulate below anticipating H4 fair value price may be taken out Friday sessions. Additionally, WK1 bullish candle close is very close to H4 expansion phase high. Taken out together? Beyond the WK1 fair value price is "just" a skip away at 1.26 ish. Will this be the price to watch in terms of determining GBP for the months into the mid year?

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  • #852,188
  • Jan 31, 2025 1:19am Jan 31, 2025 1:19am
Short 2432. TP 2300. Don't follow. Risky. Today is Friday and price tends to go the direction Asia set, which is buy. However, I am going against it.
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  • #852,189
  • Jan 31, 2025 1:31am Jan 31, 2025 1:31am
G/M, Trump tariff fireworks last evening results and y/day a < 30day adr bearish engulf dly candle. So far today a false 1st upside b/o of asian hi (to 5min so far,) and a drop down in early London. You can see the pot 1hr sbr zone and pot 1hr rbs zone that contained those 2 points respectively on chart below. Asian lo is just below y/day lo, and asian hi is presently the current dly hi. Price remains trapped in between the current wkly hi and lo so far today.

Week so far has traveled 54% of 13wk awr. 1hr remains rangy as of now.
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Trader with an Edge.
  • #852,190
  • Jan 31, 2025 1:41am Jan 31, 2025 1:41am
Quoting trumps
Tweet schmeet, Just checked the charts and Trump tweet timing is impeccable off resistance. Still watching below for buy opps. {image} {image} {image}
I'm thinking London UP

NY Down....
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Compulsions can be hard to resist
  • #852,191
  • Jan 31, 2025 1:53am Jan 31, 2025 1:53am
Quoting trumps
{quote} I'm thinking London UP NY Down.... {image}
Fair priced zone I'd be watching, just a smidge above current price
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Compulsions can be hard to resist
  • #852,192
  • Jan 31, 2025 1:58am Jan 31, 2025 1:58am
...price also tackling a separate prev 1hr/4hr sw lo zone = pot sbr (4hr part) @ current levels.
----------------------------------------
So, 1st upside b/o of last wk's 2502 hi was false (re the sell-off from the 2523/24 current wkly hi,) and price has twice tried to get back above last mth's 2475 lo from below it, and failed, with price @ it @ y/day 's hi.

4hr below
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Trader with an Edge.
  • #852,193
  • Jan 31, 2025 2:12am Jan 31, 2025 2:12am
...there is a repeating pattern of 30min bearish hidden div @ current dly hi, but not much of a next higher t/f (in this t/f combo) - 2hr downtrend to enter after a p/back. That t/f like 1hr is presently rangy. It's currently pot 1hr & 4hr sbr -vs- pot 1hr rbs.
Trader with an Edge.
  • #852,194
  • Edited 2:37am Jan 31, 2025 2:24am | Edited 2:37am
Quoting Mitiblotch
Short 2432. TP 2300. Don't follow. Risky. Today is Friday and price tends to go the direction Asia set, which is buy. However, I am going against it. {image}
I am also short. I have a TP of 1.2310 for now (The Blue area). What is your TP?
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Observation is the path to discovery.
  • #852,195
  • Jan 31, 2025 2:27am Jan 31, 2025 2:27am
Quoting Alorente
{quote} I am also short. I have a TP of 1.2310 for now. What is your TP?
2300 but I'll gladly take 2330.
  • #852,196
  • Jan 31, 2025 2:29am Jan 31, 2025 2:29am
...so, asian hi upside b/o was false to 30min, (so far.) Price challenging deeper in pot 1hr rbs again now.

1hr below
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Trader with an Edge.
  • #852,197
  • Jan 31, 2025 2:30am Jan 31, 2025 2:30am
Quoting Fardeen1209
{quote} Indeed it is a headache when you are trying to trade on lower timeframe (anything below M30). The goal of trading is not to be right on the zigzag count, but to be on the right side of perceived value of majority of participants. If i can perceived price is moving from 1.241 to 1.27, that almost 300pips trade from a 20pip SL. How long or many waves it will take for price to move to target, is not my problem, the only factor my edge defines, is the probability are skewed from price to move 300 pips from here. And the fundamental and technical...
You nailed it bro. There is always a predetermined decision to move price from one direction to another specific direction irrespective of all odds. Identifying the primary direction is the key.

Have a nice day trading.
Market Structure is the King.....
  • #852,198
  • Jan 31, 2025 2:37am Jan 31, 2025 2:37am
NZD/USD.. clean

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  • #852,199
  • Jan 31, 2025 2:40am Jan 31, 2025 2:40am
Quoting ThaoAnh
{image}
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  • #852,200
  • Jan 31, 2025 2:41am Jan 31, 2025 2:41am
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Short here, NOW , as shown.............................................

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