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Cable Update (GBPUSD)

  • #527,721
  • Jun 13, 2020 11:05pm Jun 13, 2020 11:05pm
Quoting Scotteyy
{quote} After doing a little research I believe you're correct in the fact that its fib pivots. However that just seems to be the default on IG, I see no options for the others. Funnily enough I've read davits strategy however from what i understand it seems to be more of a reversion to pivot strategy whereas my strategy is more of a bounce pivot strategy. I wait for price to return to pivot, watch PA if it bounces off then enter. If it breaks through wait for a reversal to pivot then enter. He also seems to not recommend on most sterling pairs...
I remember having an account with CMC and their default (and only) flavour of pivots was the fibs. Annoyed the hell out of me that I couldn’t choose. And in short that’s why I’m still using MT4.

Sounds like you're using a pretty standard pivot based strategy. If it's giving you an edge then keep on truckin'

As for not trading sterling pairs - meh. I like sterling. Currency pairs can have their own personality so it's probably that GBP pairs just don't suit Davit.
Focus.
  • #527,722
  • Edited Jun 14, 2020 12:06am Jun 13, 2020 11:51pm | Edited Jun 14, 2020 12:06am
Quoting Marco-Kanto
{quote} I remember having an account with CMC and their default (and only) flavour of pivots was the fibs. Annoyed the hell out of me that I couldn’t choose. And in short that’s why I’m still using MT4. Sounds like you're using a pretty standard pivot based strategy. If it's giving you an edge then keep on truckin' As for not trading sterling pairs - meh. I like sterling. Currency pairs can have their own personality so it's probably that GBP pairs just don't suit Davit.
Honestly I think the choice would just confuse me, price seems to react well to these pivots. My only niggle with IG is that for some reason you can only put daily OR weekly OR monthly pivots on at one time. So I find myself switching between daily and weekly a lot. I guess I could just plot weekly myself each week but eh nonetheless its annoying. It seems to be, I'm up 13.5% in the past 30 days and is getting me out of the hole that I put myself in using a grid trading system. Yeh I solely trade cable, figured best to be a master of one pair then a failure at many. If I become consistently profitable then ill either find more pairs (more setups) or just increase lot size on cable as I'm currently using minimum lot sizes.
  • #527,723
  • Jun 14, 2020 12:15am Jun 14, 2020 12:15am
Quoting Tpak
{quote} if it went much higher then he mentioned then it may be your turn
I assume that 80% of success in trading is: Patience + Reasonable money management + Reasonable Entry.
Time will tell!
  • #527,724
  • Jun 14, 2020 1:44am Jun 14, 2020 1:44am
this is my scenario for next week
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.png Size: 38 KB
yes yes yes
  • #527,725
  • Jun 14, 2020 2:43am Jun 14, 2020 2:43am
Quoting Moty
this is my scenario for next week {image}
By those arrows up an down you mean you got no clue?
WT
  • #527,726
  • Jun 14, 2020 3:07am Jun 14, 2020 3:07am
Quoting Bartosz77
{quote} By those arrows up an down you mean you got no clue?
No-one has any clue what the market will do. Hes just presenting ideas of what could happen. If we don't break down to lower lows chances are it will go up and vice versa.
  • #527,727
  • Jun 14, 2020 3:20am Jun 14, 2020 3:20am
On weekly it stays bullish,on daily yes its bearish.
  • #527,728
  • Edited 3:49am Jun 14, 2020 3:25am | Edited 3:49am
but on monthly bearish trend started from may.you should understand monthly 500 pips down- up its nothing.so waiting.monthly change on bullish if it stays 1.33 3-4 candles monthly,not one candle,but several candles can change.
  • #527,729
  • Jun 14, 2020 3:53am Jun 14, 2020 3:53am
To retest monthly pivot before june / quarter candle closing ? Ehhh...
not euphoria follower
  • #527,730
  • Jun 14, 2020 4:37am Jun 14, 2020 4:37am
Quoting Moty
this is my scenario for next week {image}
Hey Moty, I think GU will keep going down, maybe we get a bounce to the red triangle. Just my view
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h1-international-capital-markets-2.png Size: 35 KB
  • #527,731
  • Jun 14, 2020 5:30am Jun 14, 2020 5:30am
Quoting Scotteyy
{quote} No-one has any clue what the market will do. Hes just presenting ideas of what could happen. If we don't break down to lower lows chances are it will go up and vice versa.
Soooo.... I predict the market will go up or down.

See? 100% accuracy.

My point was that Moty put two arrows contradicting each other. This says that he doesn't have a plan that he could back with any reasoning.
WT
  • #527,732
  • Jun 14, 2020 5:53am Jun 14, 2020 5:53am
Quoting guestfromeast
{quote} I assume that 80% of success in trading is: Patience + Reasonable money management + Reasonable Entry. Time will tell!
Spot on . but patience is very hard to develop in this fast moving market. but if someone reaches that patience level he will always be in
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #527,733
  • Jun 14, 2020 6:00am Jun 14, 2020 6:00am
This monthly candle shouldn't change much, expecting some range in the 2400-2700 area...then next month a whipsaw down(possibly below 2000), back up and then the bullish pattern on monthly will be completed and we can continue above 1.30 eventually.
Everyone can see the chart, but only a few can actually read it.
  • #527,734
  • Jun 14, 2020 6:00am Jun 14, 2020 6:00am
My view for next week ... As long as daily candle closes above 1.2485 it is in uptrend and long entry having SL below 1.2455 will be preferred with a weekly target upto 1.2885-1.2915 and this monthly candle may end up little bit higher in that case. 1.3250 might be ...
on the other hand any daily close below 1.2455 will throw it to 1.2300 at least.
Disclaimer not a trading idea to anyone . Trade as per your own developed system.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 13 KB
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #527,735
  • Jun 14, 2020 7:54am Jun 14, 2020 7:54am
Quoting Scotteyy
{quote} No-one has any clue what the market will do. Hes just presenting ideas of what could happen. If we don't break down to lower lows chances are it will go up and vice versa.
so why not just wait to see what price does and respond accordingly?
Fortune telling is a bad hobby
in wondering about yourself, you forgot what you came here to be part of
  • #527,736
  • Jun 14, 2020 8:12am Jun 14, 2020 8:12am
Quoting knkie
{quote} so why not just wait to see what price does and respond accordingly? Fortune telling is a bad hobby
It's never bad to have a plan for different scenarios
  • #527,737
  • Jun 14, 2020 8:24am Jun 14, 2020 8:24am
Quoting hocius
{quote} It's never bad to have a plan for different scenarios
Quoting hocius
{quote} It's never bad to have a plan for different scenarios
a plan is different from trying to predict the future.
it usually leads to confirmation bias.

by tomorrow there will be several different "plans" on this forum.
lol

its up down or sideways.
not much more than that.
in wondering about yourself, you forgot what you came here to be part of
  • #527,738
  • Jun 14, 2020 8:54am Jun 14, 2020 8:54am
Quoting knkie
{quote} {quote} a plan is different from trying to predict the future. it usually leads to confirmation bias. by tomorrow there will be several different "plans" on this forum. lol its up down or sideways. not much more than that.
No mate, in my post I just identified two possible scenarios, of course there can be 200 more. I'm not trying to predict the future because no one can.

The plan is just how I will react to those scenarios.
  • #527,739
  • Jun 14, 2020 8:58am Jun 14, 2020 8:58am
I love this forum. We pick a plan. We then; for that moment become a bull (or bear) for hours, minutes or maybe days. Groups form and allies are made. Then we go to war! At the end one side is high-fiving each other and the others are licking their wounds.

Plan the work; work the plan.
Don't trade what you think. Just what you see!!!
  • #527,740
  • Jun 14, 2020 9:05am Jun 14, 2020 9:05am
Quoting Theoak
I love this forum. We pick a plan. We then; for that moment become a bull (or bear) for hours, minutes or maybe days. Groups form and allies are made. Then we go to war! At the end one side is high-fiving each other and the others are licking their wounds. Plan the work; work the plan.
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