... image AB=CD is a continuation pattern, so the expectation is for GU to trade down but we don't know if today's low will be taken out that's why we monitor the green areas of interest for potential failure. image

Coreg's EW+HP+D/W Range

When I compare your charts with mine, they are very similar. I have the method that I have used for decades, but I wanted to see how yours fares with mine.

Coreg's EW+HP+D/W Range

carbonmimeti, thanks for the explanation. Now I know why I was off

Coreg's EW+HP+D/W Range

Strong retracement to the first OB=order block (supply).

Coreg's EW+HP+D/W Range

The first level to watch after GU has hit the AB=CD pattern overnight and found strong support is 1.3510.

Coreg's EW+HP+D/W Range

Inside day bar, a narrow range 4,7 is in the making. If you are not aware of what to expect after such a bar google the subject or watch the video on youtube.com image image

Coreg's EW+HP+D/W Range

carbonmimwri, please, don't cut the axes with value and time on your posted charts, so we know what to focus on. Nice chart. Any technical analysis work if we know what to look for.

Cable Update (GBPUSD)

During the London session, GU hit the potential end of wave B. Now we monitor how low it wants to go. image That's the pattern I focus on right now. image

Coreg's EW+HP+D/W Range

JereMi, thanks. Nice to see you are back. I believe that HP and EW show the cumulative behavior of all participants in the market, and that's why I use them. And then all is up to the market.

Coreg's EW+HP+D/W Range

After GU printed Shooting Star yesterday, today's drop wasn't bad or surprising. The market tested 1.3518-1.3506 zone.

Coreg's EW+HP+D/W Range

GU is in danger of printing Shooting Star on the daily TF before tomorrow's NFP data. image image

Coreg's EW+HP+D/W Range

EU gave back 62% of today's range...a lot.

Coreg's EW+HP+D/W Range

After WH @1.3593 broke -now became support- 1.3641 is still in play.

Coreg's EW+HP+D/W Range

At the 1.1500 level bulls and bears should have a heavy battle. The first support zone is @1.1466-1.1455

Coreg's EW+HP+D/W Range

Same with the EU, it has to hold 1.1404

Coreg's EW+HP+D/W Range

GU has to hold the TL, otherwise, a new high will be in jeopardy.

Coreg's EW+HP+D/W Range

GU broke to the upside with conviction—potential butterfly pattern in play @1.3641. The weekly high @1.3593 is the first roadblock to this target.

Coreg's EW+HP+D/W Range

EU 30M chart with potential targets for today.

Coreg's EW+HP+D/W Range

The conventional way to trade harmonic patterns is to wait for the point D to be established. Some traders including me trade the CD leg with entry after C was formed. The TL break is one of the triggers for how to enter the trade if you decide to ...

Coreg's EW+HP+D/W Range

There is always a setup in the smaller time frame. 2-3 trades with 20 pips profit give a nice chunk of change at the end of the day. I didn't take this trade. Too late for me.

Coreg's EW+HP+D/W Range