Immediate resistance usually fails when the prior upswing is part of a downside correction which i have mentioned before and this is why retail traders always try and short the tops and long the bottoms

Cable Update (GBPUSD)

H4 is the correction, i was looking at it on H1 to see the internals, immediate resistance not so important as price is trending out of a correction

Cable Update (GBPUSD)

Not sure how your seeing that because H1 reversed the correction from the 158.93 low and is now trending up.

Cable Update (GBPUSD)

H1 looks like a buy to me A (abc=B) C , one of those funny patterns

Cable Update (GBPUSD)

It looks like the H4 correction is over!!!!, not even a proper 5 wave impulse at the end, nothing for me to trade here, GBPUSD probably the most manipulated currency to trade and i would not be surprise if another deeper drop occurs from nowhere. ...

Cable Update (GBPUSD)

EU perfection surpassed the target area from my post on Friday

Cable Update (GBPUSD)

GU Still not complete , possibly another swing down to come to complete

Cable Update (GBPUSD)

The current move down should mimic the first wave down before the abc but at larger degree as it is doing now

Cable Update (GBPUSD)

Same pattern on EURUSD origin H4 - full internal structure M15 image

Cable Update (GBPUSD)

Stop being a dummy that area has already been tested during the original move up

Cable Update (GBPUSD)

This is a weird one on GU , looks like abc with an upside b origin H4 Full internal structure H15 image

Cable Update (GBPUSD)

Very nice trade setting up here on EURNZD - Look at where the impulses are to confirm the end of each corrective phase image

Cable Update (GBPUSD)

Profit on these trades has reached an incredible amount, we are talking nearly 6 figures All the Yen trades were the same set up , C wave of a correction to the upside in effect the reverse of taking a with the swing trade D1 was showing an A abc B ...

Cable Update (GBPUSD)

Although it may seem like it , i am not actually doing elliott wave counts, what i look for is a correction on one timeframe which is moving against the larger degree wave ( not to be confused with timeframe) , then i look to see if i can recognise ...

Cable Update (GBPUSD)

Price hit 3153 , close enough , correction ended with the 5 wave impulse, and up she went although im not sure what kind of correction it was , at first i thought it was an exp flat but the swing down last night only had 3 waves so maybe that was ...

Cable Update (GBPUSD)

What happens in C happens in the move up, it is just shown as a straight line in the picture image

Cable Update (GBPUSD)

Now we wait - if it is abc then lets see if it starts start to trend back up image image

Cable Update (GBPUSD)

Thank you , very kind of you to say so

Cable Update (GBPUSD)

Bear in mind the liquidity providers are running a business, they will not lose money so they will take it high before they sell into an area where they can buy again, rinse and repeat , 80% of the time the pattern is the same, when i traded long ...

Cable Update (GBPUSD)

Roller coaster day for me , went to 21k then -4k now back to 17k , i held through the news , bear in mind these trades are from D1 , some i was expecting a bit of drawdown before the real move , stops never in danger. Infact , just hit 21k ...

Cable Update (GBPUSD)