yeap, as long as green zone holds setup is valid...

Cable Update (GBPUSD)

The same school...

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ozalid, Impossible is nothing...but you expect for today a drop of 175 pips from the closing price...maybe too much just maybe...I got it.

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shahab8b, I share your view...GU can poke above prior high (making irregular B) then reverse and go low (flat correction)...retracement in scenario #1 after potential W_5 was to shallow to qualified it as (a) corrective wave...

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Ozalid, agree...last year (May-June) I swing traded EA and my results were as follow: trade taken in W_3 18.5 pips/day, trade taken in W_4 less than 11 pips/day... it's not for me this type of trading. Of course, I have nothing against it if someone ...

Cable Update (GBPUSD)

Bones, as long as new high is not made @Ozalid's scenario is in play when the new high is made ( as indicated per @gespiri chart) we will have a different ball game. For me, everyone can have own rules on how to trade a particular pattern.

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corongumet, I am in front of the computer and can enter the trade any moment the setup shows up...why to give up 50 pips from the lows and hopping the market comes back to my target?... Of course, we all have different trading plans and it doesn't ...

Cable Update (GBPUSD)

I didn't take this long, I was preoccupied with chasing my exit from overnight short (missed my limit target by less than 1 pip - AB=CD+2.5 pips on my 30M chart)

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of course, not...we are here to help each other.

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these links might be helpful... url url

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corongumet, if you learn to spot these 3 patterns you should be good in any situation...

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navk, it took market 6 days to form (a) leg so the expectation is that it takes 3-6 days to form leg (c) and for today a possible play on 30M TF

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A possible play on daily TF...

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I thought Stefan had been sarcastic...

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Moty, I missed TP on your chart...sorry

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Moty, 60 pips not enough for you?...

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ozalid, thanks, that's the idea when trading the patterns...we know our expectation and we know when the pattern fails so the target and stop loss is known before we enter the trade.

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navk, we are often in agreement.

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Elbert, the pattern worked perfectly yesterday. GU stopped in the PRZ for W_4 although during Tokyo session it looked like pattern on @Moty's chart will unfold. If this is indeed only abc pattern retracement will be deeper...As of what future holds ...

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navk, different method of TA but outlook the same...

Cable Update (GBPUSD)