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Cable Update (GBPUSD)

  • #536,961
  • Jul 21, 2020 4:41am Jul 21, 2020 4:41am
We are self starters.
We seek out our information.
We do not trade for income.
We seek to grow our trading accounts over our lifetime.

Amen
  • #536,962
  • Edited 5:02am Jul 21, 2020 4:42am | Edited 5:02am
my friend your power comes from normal tech which you touch on,
let me say this
If this year is not different fundamentally from any other I've ever seen then I don't know what is ,we can all agree that right ?
even last year, the late in the year UK election, is very unusual ,

Also once it hits your max range surely it does not mean it will go back to the other side of the max range ,it can tit about & print that max, then follow on.

If the overall side range holds you can be right for sure ,it can go down ,however the weekly can do the side step for a long time before making the move it wants as Nov 2019

Quoting Georginson
{quote} Hi Bones, when I called 1 .2745 to happen within 3-6 weeks when price was trading at 1.2100 most in here thought I was foolish calling such price... Exactly 4 weeks later price was at 1 2745 area, that was 640 pips sighted ahead. I look far beyond and I'm not the type that like looking out for the validation of others. Below I will be pointing at my previous calls, in fact my first post in forexfactory will be required below.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #536,963
  • Jul 21, 2020 4:52am Jul 21, 2020 4:52am
book some loss with premature entry at 1.2670 and reenter again at daily r1 1.27100. i take the losses with smile as my buying gold cover it.
  • #536,964
  • Jul 21, 2020 4:52am Jul 21, 2020 4:52am
Quoting Bones
my friend your power comes from normal tech which you touch on, let me say this If this year is not different fundamentally from any other I've ever seen then I don't know what is ,we can all agree that right ? even last year, the late in the year UK election, is very unusual , Also once it hits your maxim range surely it does not mean it will go back to the other side of the max range ,it can tit about & print that max, then follow on. If the overall side range holds you can be right for sure ,it can go down ,however the weekly can do the side...
The idea is to make entries at levels that will not expose one to too much risk and at levels where reversals are very likely. Risk minimization is key to me ahead of profit taking.
Data + Stat + Risk/Emotions Management
  • #536,965
  • Jul 21, 2020 4:58am Jul 21, 2020 4:58am
Quoting Georginson
{quote} I know I will be shooting myself in the foot by answering this question and a lot of eyebrows will be raised but I just have to answer with reason. The answer is I do not use stop loss for my swing trades, I close manually if I'm not satisfied or confident in it anymore. Before I place my trades I often research on where the risks are and I give margin for error, this helps me to be psychologically prepaid for those scenarios. When July began, I already outlined my bias yo be bearish from 1.25/1.27 levels as 100 - 200 pips had been factored...
agree wit tis. sl is when you know you wrong you cut. doesn't mean you need put single line in your chart.
  • #536,966
  • Jul 21, 2020 5:01am Jul 21, 2020 5:01am
If you ask me, I am with you on this bud. Nobody needs to defend his or her calls on this thread. It is enough to do a thorough analysis of the market and leave a caveat so that any trader, particularly one of our new members, will not blindly follow the analysis.

KP

Quoting akim0895
we are all just retail traders.. not market makers..so sometimes our prediction goes well, sometimes bad prediction.. good or bad learn to accept it....
Do your homework, follow the footprints of smart money
  • #536,967
  • Jul 21, 2020 5:05am Jul 21, 2020 5:05am
Quoting Georginson
{quote} The idea is to make entries at levels that will not expose one to too much risk and at levels where reversals are very likely. Risk minimization is key to me ahead of profit taking.
but to take short at 1.25 is in my opinion is to early, price action before, double bottom on daily shoved that it could go higher, specially after that massive weekly engulfing few months ago
  • #536,968
  • Jul 21, 2020 5:08am Jul 21, 2020 5:08am
Quoting goldencalf
{quote} but to take short at 1.25 is in my opinion is to early, price action before, double bottom on daily shoved that it could go higher, specially after that massive weekly engulfing few months ago
I only staked a fraction of my equity at that level. My main stakes are at 1.2620 and 1.2701 levels.
Data + Stat + Risk/Emotions Management
  • #536,969
  • Jul 21, 2020 5:14am Jul 21, 2020 5:14am
Quoting Georginson
{quote} I only staked a fraction of my equity at that level. My main stakes are at 1.2620 and 1.2701 levels.
so it means you dont follow price action, you trade just ranges, dont look for weakness or something?
  • #536,970
  • Edited 5:32am Jul 21, 2020 5:16am | Edited 5:32am
Heres what id say ,be careful of failed signals ,like last week
The monthly shows bulls in control
This chart is bullish over this weekly open ,maybe last week low is poss.
But also running into high res as pointed out by G.
Trending, I admit, slow like a snail up.You don't know thats not the lead to something else at all.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-Weekly 222 .png Size: 19 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #536,971
  • Jul 21, 2020 5:18am Jul 21, 2020 5:18am
the massive r became massive s..
if it falls, lot of air down
Attached Image (click to enlarge)
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  • #536,972
  • Jul 21, 2020 5:22am Jul 21, 2020 5:22am
Quoting ChiForex
{quote} Dude, am in no need for help in trading..help yourself and others if you can and that will be Great
haha it was aimed at everyone bud (who ever needs it)
  • #536,973
  • Jul 21, 2020 5:31am Jul 21, 2020 5:31am
Quoting goldencalf
{quote} so it means you dont follow price action, you trade just ranges, dont look for weakness or something?
The truth is that price actions only respond to distance covered and ranges show distance covered. So I will take what price action responds to which are ranges to address the inconsistent and erratic price action.
Data + Stat + Risk/Emotions Management
  • #536,974
  • Jul 21, 2020 5:31am Jul 21, 2020 5:31am
Quoting KeenPips
If you ask me, I am with you on this bud. Nobody needs to defend his or her calls on this thread. It is enough to do a thorough analysis of the market and leave a caveat so that any trader, particularly one of our new members, will not blindly follow the analysis. KP {quote}

I think, it is more of a trading technique, rather than the quality of our calls?
It can be completely safe to try to open sells in a bull movement...
How it is that?
If one knows how to move the sell trade around, to navigate it? Because there is a way of doing just this, with sometimes less than 50% of the harm, when compared to a fixed SL...
Also, there might be different conditions that might need to be faced, to open that sell trade?
One can't just open a sell trade, because of a horizontal or reclined line somewhere... or even more stupid reasons there are.
There are at least 4-5 different ways to pick up a sell signal in a bull movement, BUT open the actual sell trade when there is a real sell condition for that (even it did turned out to be a fake one)... This is pretty basic stuff.
Maadik Hugiis. IQ 69.
  • #536,975
  • Jul 21, 2020 5:32am Jul 21, 2020 5:32am
Asia buys in
FF buys in
London sells off creating a imbalance in price in a known area of volume to grab demand from Asia sell order block before creating a strong right side to carry on up.



stop selling....
Attached Image (click to enlarge)
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  • #536,976
  • Jul 21, 2020 5:41am Jul 21, 2020 5:41am
Good contribution to the discussion mate. How we trade differs, and often underpins how we handle market analysis.

KP

Quoting MoneyZilla
{quote} I think, it is more of a trading technique, rather than the quality of our calls? It can be completely safe to try to open sells in a bull movement... How it is that? If one knows how to move the sell trade around, to navigate it? Because there is a way of doing just this, with sometimes less than 50% of the harm, when compared to a fixed SL... Also, there might be different conditions that might need to be faced, to open that sell trade? One can't just open a sell trade, because of a horizontal or reclined line somewhere... or even more...
Do your homework, follow the footprints of smart money
  • #536,977
  • Jul 21, 2020 5:43am Jul 21, 2020 5:43am
Quoting Georginson
{quote} The truth is that price actions only respond to distance covered and ranges show distance covered. So I will take what price action responds to which are ranges to address the inconsistent and erratic price action.
And you had better hope that price action doesn't do a Swissy while you are asleep.
  • #536,978
  • Jul 21, 2020 5:47am Jul 21, 2020 5:47am
Quoting Nala66
{quote} And you had better hope that price action doesn't do a Swissy while you are asleep.

There are no protections against the Alpine Chocolate... Hopefully these are once every 5-10 yrs?
Maadik Hugiis. IQ 69.
  • #536,979
  • Jul 21, 2020 5:52am Jul 21, 2020 5:52am
Good advise. Also, don't buy now is in the equation.

KP

Quoting Neil0163
...stop selling....
Do your homework, follow the footprints of smart money
  • #536,980
  • Jul 21, 2020 5:52am Jul 21, 2020 5:52am
During uptrend, buy the tops, im long 1.2706 for 1.28 and 1.29
Make money by doing the opposite of Giveachance aka loser
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