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Cable Update (GBPUSD)

  • #489,601
  • Aug 15, 2019 11:06am Aug 15, 2019 11:06am
Not much movement now.

So signing off.

Happy with what I got today.

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Intraday only.
  • #489,602
  • Aug 15, 2019 11:12am Aug 15, 2019 11:12am
Long in at 1.2114
Don't trade what you think. Just what you see!!!
  • #489,603
  • Aug 15, 2019 11:15am Aug 15, 2019 11:15am
Perhaps something on the cards here for bulls. Lets go at it Moty. My s/loss 30 pips.
Cheers.
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Trade to trade another day
  • #489,604
  • Aug 15, 2019 11:20am Aug 15, 2019 11:20am
just a side note :

often times the biggest controversies in this and other threads , arise from the fact that there are short term traders / scalpers pitted against longer term / swing traders

a move like today was a scalpers ' paradise and kudos go to all the scalpers who went long

but the longer term traders still hold a bearish view , with a time frame horizon of typically 1 / 2 / 3 weeks , which could see the Pound breaking lower

so at the end of the day both would be right , only difference being the time horizon
  • #489,605
  • Aug 15, 2019 11:23am Aug 15, 2019 11:23am
Quoting Wavegarrick
Perhaps something on the cards here for bulls. Lets go at it Moty. My s/loss 30 pips. Cheers. {image}
i am in
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yes yes yes
  • #489,606
  • Aug 15, 2019 11:25am Aug 15, 2019 11:25am
Quoting navk
Not much movement now. So signing off. Happy with what I got today. {image}
I didn't do as well as you pip wise but I am satisfied.


Fortunately, a close below the high of the day didn't arise 1 hour after London open otherwise the trading day would have been a different story. Been more patient and waiting until the close of the H1 is definitely helping in the consistency department even if it means missing some opportunities.

It certainly removes a lot of uncertainty.

Quoting mbrown
A close on the hour below the high of the day means shorts are on the table IMO.
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  • #489,607
  • Aug 15, 2019 11:32am Aug 15, 2019 11:32am
Quoting Moty
{quote} i am in {image}
Seeing this high up I will lock in trades as soon as I can. Cheers Bud.
Trade to trade another day
  • #489,608
  • Aug 15, 2019 11:32am Aug 15, 2019 11:32am
Quoting mbrown
{quote} I didn't do as well as you pip wise but I am satisfied. {image}
I usually consider no loss is a profit.

But my strategy, shorter time frame with hourly trend and daily trend, works very well for intra day.

For many days, I make 120 to 170 bucs a day ...... absolutely no risk at all.

Never I faced loss for many days now.

And I ensure that whatever I make profit every day I transfer to wallet and at the end of the week I with draw to my bank account.
Intraday only.
  • #489,609
  • Aug 15, 2019 11:50am Aug 15, 2019 11:50am
Quoting navk
{quote} I usually consider no loss is a profit. But my strategy, shorter time frame with hourly trend and daily trend, works very well for intra day. For many days, I make 120 to 170 bucs a day ...... absolutely no risk at all. Never I faced loss for many days now. And I ensure that whatever I make profit every day I transfer to wallet and at the end of the week I with draw to my bank account.
Good to see that you are consistently creating wealth. Kind of motivation for new traders...

Do you determine trend based on trendline or some kind of indi..
sell strength in falling markets, and buy weakness in rising markets.
  • #489,610
  • Aug 15, 2019 12:00pm Aug 15, 2019 12:00pm
Quoting MXT
just a side note : often times the biggest controversies in this and other threads , arise from the fact that there are short term traders / scalpers pitted against longer term / swing traders a move like today was a scalpers ' paradise and kudos go to all the scalpers who went long but the longer term traders still hold a bearish view , with a time frame horizon of typically 1 / 2 / 3 weeks , which could see the Pound breaking lower so at the end of the day both would be right , only difference being the time horizon
Hi Mxt,
Thanks for your view point, and rightfully so, there are many different traders following here. I respect one and all. I for example am a short to medium term swing trader. Even if I was a long term swing trader, will I look for shorts here?, crumbs no. I would be in from up yonder. I find it hard to understand why long term swing traders are calling short from these levels. Crumbs show the trades from up yonder then. Not directed at you, just saying. Buy trades for me were not scalping this move in Gu. I typically do not go for 5 pip scalps but 75 to as much as 250 to 500 pip trades. I don't understand the hype about not going long at these levels. These are levels that I would go long rather than short. And if it does drop another few hundred pips I would rather go long, if my stops are in place. For the shorters, your time will come and be sure that I will be in when the time is right.
Cheers.
Trade to trade another day
  • #489,611
  • Aug 15, 2019 12:15pm Aug 15, 2019 12:15pm
Quoting Wavegarrick
{quote} I find it hard to understand why long term swing traders are calling short from these levels
hi bud , longer charts are in still in down trend , that's why , but as a scalper you are free to take the opposite contrarian view and go long as you please

Quoting Wavegarrick
{quote} I don't understand the hype about not going long at these levels. These are levels that I would go long rather than short. And if it does drop another few hundred pips I would rather go long Cheers.
we'll see in the fall what the fate of Cable will be , but again if longer term traders are calling for shorts , they have a reason to do so , just as scalpers do for going long here, so i respect your view and those from anybody else here

we're in very quite times so there' s the opportunity to go contrarian , but when Cable starts trending heavily you would be cut by a falling knife
  • #489,612
  • Aug 15, 2019 12:16pm Aug 15, 2019 12:16pm
Quoting navk
{quote} I usually consider no loss is a profit. But my strategy, shorter time frame with hourly trend and daily trend, works very well for intra day. For many days, I make 120 to 170 bucs a day ...... absolutely no risk at all. Never I faced loss for many days now. And I ensure that whatever I make profit every day I transfer to wallet and at the end of the week I with draw to my bank account.
Nice! thanks for the pointers.

Now I am just focusing on 1 to 3 trades a day. Most of the time in the direction of the Pitchfork with H1 close confirmation. I cannot be bothered to spend the entire day staring at a chart when it isn't necessary.
  • #489,613
  • Aug 15, 2019 12:30pm Aug 15, 2019 12:30pm
...pending buy limit from weekly pivot
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Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #489,614
  • Aug 15, 2019 12:35pm Aug 15, 2019 12:35pm
Quoting MXT
{quote} hi bud , longer charts are in still in down trend , that's why , but as a scalper you are free to take the opposite contrarian view and go long as you please {quote} we'll see in the fall what the fate of Cable will be , but again if longer term traders are calling for shorts , they have a reason to do so , just as scalpers do for going long here, so i respect your view and those from anybody else here we're in very quite times so there' s the opportunity to go contrarian , but when Cable starts trending heavily you would be cut by a falling...
Hey Mxt it seems you are fucking clueless in reading my posts. You keep on calling me a scalper. Good on you mate, When you asked me to subscribe to you I did so in due diligence.
Quote
but when Cable starts trending heavily you would be cut by a falling knife
Consider me a non subscriber.
Cheers
Trade to trade another day
  • #489,615
  • Aug 15, 2019 12:48pm Aug 15, 2019 12:48pm
Looking to now take longs based on the 4 hour time frame trend has confirmed a change to the bulls we had the triangle break out which broke out past the previous LH before making a HL price has now made a HH confirming a bull trend change on the 4 hour timeframe I’m now looking to take longs from the zone below with first target being 1.2170 we’ve also had a break above the quarter point of 1.21 price now looks to be retesting.
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  • #489,616
  • Aug 15, 2019 12:50pm Aug 15, 2019 12:50pm
Quoting htcone
{quote} Good to see that you are consistently creating wealth. Kind of motivation for new traders... Do you determine trend based on trendline or some kind of indi..
Any trend indi would do the job.

Just see the attached pic.

It is MTF MACD indicator.

The bottom one is 4hr setting in 5 min chart.

The top one in sub window is MACD with hourly setting.

The 4hr macd signal line already cut for buy ....

You decide the buy entry when hourly macd signal line cut or histogram above " 0 " line.
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Intraday only.
  • #489,617
  • Aug 15, 2019 12:57pm Aug 15, 2019 12:57pm
Quoting Wavegarrick
{quote} Hey Mxt it seems you are fucking clueless in reading my posts. You keep on calling me a scalper. Good on you mate, When you asked me to subscribe to you I did so in due diligence. {quote} Consider me a non subscriber. Cheers
you ' re f****ng clueless about trading , measure your words before opening your mouth

trading discussions with such idiots are useless , and i even bother to post about short and long term traders

we ' ll see during the fall what the Pound will be worth

it was a bad mistake indeed subscribing to you
  • #489,618
  • Aug 15, 2019 1:03pm Aug 15, 2019 1:03pm
Such a kiddy game. I get a message from Mxt to subscribe to him and then he will subscribe to me. A sucker as I am I did so. As soon as I unsubscribe from him he puts me on ignore. I am too old for this shit. My time is coming near to ending my posts here at FF.
Cheers...
Trade to trade another day
  • #489,619
  • Aug 15, 2019 1:06pm Aug 15, 2019 1:06pm
good riddance

go take your longs on Cable till 1.10
  • #489,620
  • Aug 15, 2019 1:08pm Aug 15, 2019 1:08pm
Mad Thursday!!!
Don't trade what you think. Just what you see!!!
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