Georginson, I misunderstood the phrase: Scaled out at 1.3118...my bad.

Cable Update (GBPUSD)

One of the scenarios is unfolding right now...

Weekly COT report Analysis + Trade Ideas

My good memory is my biggest curse... image

Cable Update (GBPUSD)

It all depends on DXY... image On 2H chart, if support zones give in we can expect bullish Gartley pattern... image

Weekly COT report Analysis + Trade Ideas

shahab8b, what is your take on UJ?... image or another scenario... image

Weekly COT report Analysis + Trade Ideas

shahab8b, you put me out of business...

Weekly COT report Analysis + Trade Ideas

so far market cooperates with yesterday's setup...

Weekly COT report Analysis + Trade Ideas

Only if weekly high is taken out...now we want ABC to become 12345 pattern...if this happens we know it's an only first leg up... image

Weekly COT report Analysis + Trade Ideas

My 100%dailyART(14) is @1.31758 but I bailed out slightly above 50% ret. of weekly bar...cyan dashed line on my chart at 1.31627 image

Weekly COT report Analysis + Trade Ideas

shahab8b, you know the drill... image soon we might relabel the markings on daily chart... image

Weekly COT report Analysis + Trade Ideas

Bones, thanks for the shout in my profile...here is continuation chart of our scenarios from a way back...

Cable Update (GBPUSD)

ABC correction implies new low, do we get it?

Weekly COT report Analysis + Trade Ideas

you know I hate it (diagonals and triangles)...you never know when it ends...hopefully, timing will play out

Weekly COT report Analysis + Trade Ideas

I go with the pattern-abc- because it's hard to guess how strong volatility will be the next day, sometimes you have a bang-bang play and sometimes the pattern drags forever but if the pair doesn't tank the next day after having engulfing or ...

Weekly COT report Analysis + Trade Ideas

you are within reasonable SL although I am not sure you need SL...Next step after completion of W(c) is setup zone for potential W_4 in case "boiler room" boys don't want to play nice (expected abc as you pointed out on your chart)

Weekly COT report Analysis + Trade Ideas

we need to examine on smaller TF the internal structure of (b)-(c) wave and check if is completed... Edit: mistake removed from the chart...

Weekly COT report Analysis + Trade Ideas

Are you talking about these honest, forthcoming people who removed the peg at 1.20 in the past and screwed up so-called "smart money"?...

Weekly COT report Analysis + Trade Ideas

shahab8b, I agree that intraday should be preferable now...DXY still doesn't have a clear picture for me because I couldn't eliminate ending diagonal yet.

Weekly COT report Analysis + Trade Ideas

no, I traded UJ, somehow I do everything to avoid UCHF and UCAD...

Weekly COT report Analysis + Trade Ideas

update...

Weekly COT report Analysis + Trade Ideas