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Cable Update (GBP/USD) without Idiots 25 replies

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Cable Update (GBPUSD)

Quoting JeremiaDa
{quote} the market doesn't move in straight lines if there's an impulse there should be a retracement... I only said short because i would like to trade the retracement but i know bulls are now in control
Yes I agree that the market doesn't move in a straight line. Control is also very subjective based on the fact that buyers can be in control on one timeframe at a particular target while sellers are in control on a larger or smaller timeframe at a particular target level. In fact I wouldn't really use the term control since buyers and sellers can share a perception of value. Buyer and seller are just temporary titles. They are traders that can be buyers then become sellers so logically buyers and sellers can have the same perception.

Example: Buyers reach a target level where they are satisfied with their profits and anticipate other buyers will take profits and sellers will step in so buyer perception is value will go down which leads to price drop. Sellers at the same level anticipate buyers are satisfied at this level and will take profit while other sellers will step in so the seller perception is also that value will go down which leads to a price drop.

The key is not to see whether buyers or sellers have control but rather it is to see where buyers and sellers agree in the direction of price(shared perception of value). Don't trade when buyers and sellers are at odds. Trade when they agree.
@sharingan how often do they agree cuz i never knew about that, i was always concerned about who is in control, how can i identify does points
Consistency isn't Glamorous But That's How Legends are Made
  • #854,343
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  • Edited 6:13pm Feb 17, 2025 5:54pm | Edited 6:13pm
Mon lows is the min target for my single short
Ideal ~1.2522. DOM shows path of least resistance is down, but it's market close
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BTW
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Quoting Yngwie
sold 1.2609
add sell 1.2620
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #854,346
  • Quote
  • Edited 8:17pm Feb 17, 2025 7:49pm | Edited 8:17pm
Quoting JeremiaDa
@sharingan how often do they agree cuz i never knew about that, i was always concerned about who is in control, how can i identify does points
Quoting sharingan9
Boring day today. No real moves. Gunna try a scalp short below 1.2619(break below H1 middle pivot and see if value is found. Didnt quite hit the daily R1 so this is a bit risky but lets see
Quoting sharingan9
{quote} Price moved up from that level to the Daily R1 target. Still in the trade but I new I shoulda waited. Will make another short entry in the next hour around 2631 Edit*: If it goes tod far above 2637 then it may continue to go up. lets hope it stays contained
There are many ways to find agreement. Price action, wave trading etc. But for me I use pure auction theory as described in the nobel prize award webpages where they mention a particular progression: Interpretations form market sentiment which forms perception of value. I use pivot targets to serve as the interpretations across multiple timeframes which form the market sentiment which then forms a shared perception of value. Perfect example is the trades I took below on GU late US session:

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Quoting sharingan9
{quote} {quote} {quote} There are many ways to find agreement. Price action, wave trading etc. But for me I use pure auction theory as described in the nobel prize award webpages where they mention a particular progression: Interpretations form market sentiment which forms perception of value. I use pivot targets to serve as the interpretations across multiple timeframes which form the market sentiment which then forms a shared perception of value. Perfect example is the trades I took below on GU late US session: {image} {image} {image}
understood, thanks man
Consistency isn't Glamorous But That's How Legends are Made
Quoting Yngwie
sold 1.2609
Quoting Yngwie
{quote} add sell 1.2620
closed 29p
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
No longs.
Shorts yes, but mind that it will be against the trend.
The loss was not bad luck. It was bad Analysis - D.Einhorn
  • #854,350
  • Quote
  • Edited Feb 18, 2025 12:34am Feb 17, 2025 11:40pm | Edited Feb 18, 2025 12:34am
Aud just cut rates, and Jpy is expected to hike. Selling AUDJPY, supply/demand zone confirms it, and RSI momentum is bearish.

USDCHF, supply/demand confirms sell.

GBPUSD weekly trendline broken to the upside, any small pullback is good to buy on daily.
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Quoting sharingan9
{quote} {quote} {quote} There are many ways to find agreement. Price action, wave trading etc. But for me I use pure auction theory as described in the nobel prize award webpages where they mention a particular progression: Interpretations form market sentiment which forms perception of value. I use pivot targets to serve as the interpretations across multiple timeframes which form the market sentiment which then forms a shared perception of value. Perfect example is the trades I took below on GU late US session: {image} {image} {image}
Update: Price continues in the value direction which is down. Now approaching daily S1. If break deep below that we can see a nice drop from there. Auction theory is Nobel Prize Winning work....

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Quoting ScalaFX
2632 giga short
partials, rest 0 risk
People don't plan to lose. They lose because they don't plan.
Quoting Luxyus
{quote} {file} the best book u can read imho. And believe me i ve read a lot of them
Many gone, new come, so let me share again the link for the best book to read by whoever want to tame forex markets.

https://www.forexfactory.com/attachm...4?d=1694852676

________________________________________________________
Buffet once gave us a very important advice: read,read,read.

this is my interpretation on why he said 3 times "read" :

1st read: it refers to all the possible knowledge&aknowledgement, you have to understand what are you doing before to do it, right?

2nd read: put the lowest amount of your money on an asset of your interest and stay in the market as long as possible to decode and assimilate all the dynamics. in other words, learn to read the marktes

3th read:keep yourself always or as much as you can updated on what is happening, following the developments of monetary policies first, then all the rest.
chaos is just unknown order
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Generally good set of numbers from the UK except higher claimants. Might push again towards 12650 zone whilst Gaj towards 192.
Insane in the Brain..
Sold 1.2620
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
Quoting sharingan9
{quote} Yes I agree that the market doesn't move in a straight line. Control is also very subjective based on the fact that buyers can be in control on one timeframe at a particular target while sellers are in control on a larger or smaller timeframe at a particular target level. In fact I wouldn't really use the term control since buyers and sellers can share a perception of value. Buyer and seller are just temporary titles. They are traders that can be buyers then become sellers so logically buyers and sellers can have the same perception. Example:...
You nailed it. A point where both the buyers and sellers reach a consensus on direction is the main retracement/reversal point.

My TP on long does not satisfy the requirement above. Going Short in anticipation of zigzag movement when buyers and sellers are not satisfied might not be a nice idea. That should be liquidity sweep zone...

Looking to buy again today. Just fractional scalping.

Buyers are not yet satisfied. Probably at the end of today, there may be consensus to pullback...
Market Structure is the King.....
buyer from the botom , now lets see....
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So another bullish day?
I'm guessing that the overnight retracement on the DXY is all that was required for people to start dumping again. Which is annoying because our Labour government should be flushing sterling down the toilet.
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