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Cable Update (GBPUSD)

  • #509,121
  • Jan 20, 2020 5:44am Jan 20, 2020 5:44am
a method to use pivot points, daily.

see the reaction at s1 in daily pivot in 15 min chart.

Risk : reward = 1 : 3.
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Intraday only.
  • #509,122
  • Jan 20, 2020 5:45am Jan 20, 2020 5:45am
Hey guys, don't take this to the heart ok, but trying listening (reading actually) to the guys here who are in the FX game much much longer than you. Some here have been trading for decades. Very nice people. Learned a lot.

Looking at small time frames only will make your minds go havoc. It's almost impossible to trade like that.

Bigger picture first is the way to go. Then smaller time frames to find entry points.

It's impossible to become a High Frequency Trader without learning the baby steps first.

Cheers,

Happy trade.
Hey buddy, let's grab some Pips!
  • #509,123
  • Jan 20, 2020 5:46am Jan 20, 2020 5:46am
see the reaction at pivot and r2 last friday
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Intraday only.
  • #509,124
  • Jan 20, 2020 5:47am Jan 20, 2020 5:47am
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yes yes yes
  • #509,125
  • Edited 6:12am Jan 20, 2020 5:47am | Edited 6:12am
Quoting WhiteMouseFX
Hey guys, don't take this to the heart ok, but trying listening (reading actually) to the guys here who are in the FX game much much longer than you. Some here have been trading for decades. Very nice people. Learned a lot. Looking at small time frames only will make your minds go havoc. It's almost impossible to trade like that. Bigger picture first is the way to go. Then smaller time frames to find entry points. It's impossible to become a High Frequency Trader without learning the baby steps first. Cheers, Happy trade.
seeing too many negatives only to come back does make a perfect entry decision. Truly every enterprenuer can grow only on rocky grounds. Find them and make your decisions wisely S1 seem to be a Rock today.
Keep the Lights on then you can catch the rise from the dark.
  • #509,126
  • Jan 20, 2020 5:49am Jan 20, 2020 5:49am
see the reaction at pivot last thursday.
Attached Image (click to enlarge)
Click to Enlarge Name: Alpari MT4.png Size: 93 KB
Intraday only.
  • #509,127
  • Jan 20, 2020 5:53am Jan 20, 2020 5:53am
Quoting Moty
{image}{image}{image}
moty, advice to you, as well as for me.

we both use pivot points. but we must use pivot points effectively.

entries must be at pivot, r1/s1 or r2,s2 or r3/s3 only after seeing the reaction at those levels.

we do not need to take trades all over chart.

see the long entry at S1 perfect today.
Attached Image (click to enlarge)
Click to Enlarge Name: Alpari MT4.png Size: 63 KB
Intraday only.
  • #509,128
  • Jan 20, 2020 5:54am Jan 20, 2020 5:54am
Quoting WhiteMouseFX
Hey guys, don't take this to the heart ok, but trying listening (reading actually) to the guys here who are in the FX game much much longer than you. Some here have been trading for decades. Very nice people. Learned a lot. Looking at small time frames only will make your minds go havoc. It's almost impossible to trade like that. Bigger picture first is the way to go. Then smaller time frames to find entry points. It's impossible to become a High Frequency Trader without learning the baby steps first. Cheers, Happy trade.
Hey there Whitemouse,

Your statement will likely go against many traders in this forum, but I think what you say is very true.
Smaller timeframes will not just get you a nervous breakdown, but it also distracts from learning to anticipate the bigger moves.
Not saying I'm all that good at it, but I've tried scalping on lower timeframes, even had some succes with it, but in the end it never worked for me.
The most important benefit of higher timeframe trading is the comparatively lower spread cost, since that is what will eat your account stealthy.

Good luck to you!
It's a sport, an artform and a science.
  • #509,129
  • Jan 20, 2020 5:57am Jan 20, 2020 5:57am
Out at 1.3002 with +35 pips......see ya tomorrow.
Lost....
  • #509,130
  • Jan 20, 2020 5:57am Jan 20, 2020 5:57am
Moty, we can use 15 min or 30 chart ( preferably 15 min chart ) to see the reaction at pivot levels.
Intraday only.
  • #509,131
  • Jan 20, 2020 6:04am Jan 20, 2020 6:04am
and my exit will be close to 3045 ( daily pivot ) only today. why?

see the chart, hourly turned bullish.
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Intraday only.
  • #509,132
  • Jan 20, 2020 6:20am Jan 20, 2020 6:20am
Quoting navk
and my exit will be close to 3045 ( daily pivot ) only today. why? see the chart, hourly turned bullish. {image}
i will sattle for the weekly pivot ( 1.30254 ) as a target.
the trend is still berrish until cross over the 50 sma channle
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yes yes yes
  • #509,133
  • Jan 20, 2020 6:20am Jan 20, 2020 6:20am
moty, another example,

on the 15 th hourly bar closed above pivot, since then up to 17 th, hourly was bullish.

we can use 15 min bar every day from 15 th to 17 th to take long entry.
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Intraday only.
  • #509,134
  • Jan 20, 2020 6:25am Jan 20, 2020 6:25am
Quoting Moty
{quote} i will sattle for the weekly pivot ( 1.30254 ) as a target. the trend is still berrish until cross over the 50 sma channle {image} {image}
let us see 3025 also good exit point.

my another analysis :

s1 has been supported today.

so the next level to hit is 3045. and that completes adr today too as per my chart.

see the adr level today. 3046.
Attached Image (click to enlarge)
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Intraday only.
  • #509,135
  • Jan 20, 2020 6:31am Jan 20, 2020 6:31am
see the reaction in gold at pivot and r1 today. ha..ha... works perfect. we need to see the reaction at pivots, supports, resistances.
Attached Image (click to enlarge)
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Intraday only.
  • #509,136
  • Jan 20, 2020 6:35am Jan 20, 2020 6:35am
Quoting Moty
{quote} i will sattle for the weekly pivot ( 1.30254 ) as a target. the trend is still berrish until cross over the 50 sma channle {image} {image}
targets are based on analysis, which can be pivot, r1, r2, s1, s2.

however, as long as we achieve 1 : 3 that is fine and we do not have to wait till pivot levels are tested.
Intraday only.
  • #509,137
  • Jan 20, 2020 6:38am Jan 20, 2020 6:38am
Woke up... with my longs from friday... still under water....but the best part is it didnot hit my margin call....
Extreme gut feeling trader
  • #509,138
  • Jan 20, 2020 6:45am Jan 20, 2020 6:45am
Quoting montygoldy
Woke up... with my longs from friday... still under water....but the best part is it didnot hit my margin call....
You going to keep holding them?
Do or do not, there is no try - Master Yoda
  • #509,139
  • Jan 20, 2020 6:53am Jan 20, 2020 6:53am
Quoting BenWarburton
{quote} You going to keep holding them?
For now yes... still have faith in them...
Extreme gut feeling trader
  • #509,140
  • Jan 20, 2020 7:04am Jan 20, 2020 7:04am
Quoting montygoldy
{quote} For now yes... still have faith in them...

Best of luck, 4h looks like a rejection of lastweeks low, could see a bounce up today or tomorrow.
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