Moty, be always prepared for more BS with PA...Friday PA gave the warning that it might be B (corrective wave) at the end of the day.

Cable Update (GBPUSD)

xristos, please check this out... Elliott wave rules: Rule 1: Wave 2 can never retrace more than 100% of wave 1. Rule 2: Wave 4 may never end in the price territory of wave 1 (I use closing prices on a daily chart, allow penetration on intraday ...

Cable Update (GBPUSD)

Always trade your plan...

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You can always come up with an alternate count of waves, this is not foremost important for me. Fibonacci relations between the waves, it's what I care about. Price can always go higher/lower.

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xristos, please don't mess up my charts, post your own. Thank you. Note my signatures under my posts.

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Yes, 1.2588 will be bi(a)tch to take out...but it's the market anything can happen.

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Moty, nicely done...congrats. Now you have to repeat today's performance at least 50 times...GU reached textbook objective for today.

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Moty, monitor closely move from 4 to 5 because PA is typical for correction (overlaping sections/swings) only possible scenario for W:5 is ugly diagonal wave...Take care.

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Thanks, Neil, I got this covered...

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Neil0163, for us Ellittisions, when the market overcomes the biggest ret in price and/or time from W:4 to W:5 we consider W:5 in place. The confirmation comes when the market will trade above 1.2540...Yes, I also pay attention to 1-2-3 reversal ...

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Moty, you are impossible...but hold the horses ...

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Moty, I know I sound like a broken record (this is the second thread we post together) but I will say it again. Many patterns we forecast using Elliott Wave Principal don't come out as we predicted, so what is the problem to take -3 or -5 pip/points ...

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W:4:5 taken out, more to go...

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Moty, very tight TP if you think about W:4...but I can always be wrong...Trade your plan.

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Moty, my hero again...congrats.

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Moty, let me guess...and you will hold until this potential ABC' pattern becomes 1-2-3-4-5...How I'm doing?...

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on 15M time frame we deal with complex correction but until LOD is not taken out longs are still good...

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Same thinking here...Excerpt from FF posts.. Fellow X...I go long for the quick scalp of 5 pips Fellow Y... Are you insane? Have you seen a monthly chart?.... LOL I exaggerate, but something close to it.

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Thanks mbrown,...I won't die until I convince people it's crucial to the day trading to stay in one time frame...entry based on analysis of the 15M chart, SL and TP need to be set on the same time frame end of the story...and so ...

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I agree...possible 3-3-5 in making...

Cable Update (GBPUSD)