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Cable Update (GBPUSD)

  • #538,081
  • Jul 24, 2020 5:27am Jul 24, 2020 5:27am
Quoting Moty
{quote} let's say this , i deposite 200 $ two weeks ago . went up to 550 and now stopped out at 270 & equity , so i a'm up 70 $. it's still profit
Profit is profit bro cant complain
  • #538,082
  • Jul 24, 2020 5:31am Jul 24, 2020 5:31am
Quoting Neil0163
{quote} No and only an idiot would say they dont have losses, but what i do have is finally a 100k Funded account having proved my trading ability to FTMO. (not sure if you herd about them great company if you dont have a big enough trading account and you can pass there challenge) like i said in a previous post i just want everyone to succeed im not toxic like a lot of people.
ok, so could you tell please that is working, that is not working, where people should pay attention, for example, engulfing candles, pinbars, trendlines, round numbers, better buy support when sell resistant...fibonacci??
  • #538,083
  • Jul 24, 2020 5:36am Jul 24, 2020 5:36am
Quoting goldencalf
{quote} ok, so could you tell please that is working, that is not working, where people should pay attention, for example, engulfing candles, pinbars, trendlines, round numbers, better buy support when sell resistant...fibonacci??
Trendlines are subjective people will draw them all different majority of TL breaks a liquidity grabs which go against you.
Everything you know (Fib bounces TL Bounces Round numbers Support turned resistance and vice versa) It all boils down to supply and demand

Price moves From supply to demand and vice versa

Whilst its moving to said supply or demand your trading sessions will create order blocks (areas in which buyers and sellers are) from these order blocks price will create volume moves, volume moves then create order flow, that order flow takes you to supply or demand.
  • #538,084
  • Jul 24, 2020 5:42am Jul 24, 2020 5:42am
Quoting Neil0163
{quote} Trendlines are subjective people will draw them all different majority of TL breaks a liquidity grabs which go against you. Everything you know (Fib bounces TL Bounces Round numbers Support turned resistance and vice versa) It all boils down to supply and demand Price moves From supply to demand and vice versa Whilst its moving to said supply or demand your trading sessions will create order blocks (areas in which buyers and sellers are) from these order blocks price will create volume moves, volume moves then create order flow, that order...
so engulfing, pin bars, doji, shoving supply demand imbalance? supply will be there people scare to buy so they book profits? that wrong with combo- trend line, round number, and resistant level somewhere? could i short it? or wait for confirmation??
  • #538,085
  • Jul 24, 2020 5:43am Jul 24, 2020 5:43am
Quoting Theoak
{quote} Stop out. 10 pips
short again try this again - then thats me done for the day

1.2730 sl 10 pips target 25 pips
Don't trade what you think. Just what you see!!!
  • #538,086
  • Jul 24, 2020 5:53am Jul 24, 2020 5:53am
Quoting goldencalf
{quote} so engulfing, pin bars, doji, shoving supply demand imbalance? supply will be there people scare to buy so they book profits? that wrong with combo- trend line, round number, and resistant level somewhere? could i short it? or wait for confirmation??
So in the Case of GU for my self

if you look at this H4 chart

Price created a fresh level of Demand (grey box) when price cam back to that demand zone it over shot it (closed below but next candle closed back above) this was a liquidity grab to take more demand to push price up higher and you can see that H4 engulfing candle its Volume, only banks have the ability to move price in that manner not our 100k accounts. Now look at the most recent Price action its simply pulling back into an area where we know 100 Percent that there was buyers in the market because of that volume candle. Now my point is why would they spend all there money Filling orders to push price down through demand to then grab liquidty to push price back up to then just sell off today? they would not do that it would cost banks too much money to do that to just sell off.

Now lets look at it from a retail perspective

Price has been on a uptrend all week, it needs to have a big pull back at some point. We are at a resistance level price is stalling the bears are coming lets get best price and short here..

see the difference in the thinking and the logic.

Look how many people in the thread are looking short at the minute. Banks cant make money shorting if everyone else is shorting around the world.
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  • #538,087
  • Jul 24, 2020 5:57am Jul 24, 2020 5:57am
Quoting Neil0163
{quote} i hear you friend, i just genuinely want people to succeed that's all, ive even created my own free group on telegram to try and help people, i got to the point where i tried everything. All indicators Wave theories Chart patterns (i actually had a thread on here about them Which BONES joined my i add yet he knocked me yesterday) none of it i was consistent with, spent £1000sss on "courses" which all had the same old retail horse rubbish and it took me 2-3 years to see none of it worked what so ever. i gave up posting in here as much like...
To add, that's why some of the very good traders (like Roszey, Almo, Gustro, Coreg2004, shahahab, to name a few, and now Georginson) have stopped posting regularly here. They try to help by posting their analyses and they got attacked for whatever reason. It's a loss, especially to newbies and oldies like myself.
Lost....
  • #538,088
  • Jul 24, 2020 6:01am Jul 24, 2020 6:01am
Lets look at it from another retail perspective

Big head and shoulders for a short clear as day everyone can see it.

Now lets look opposite direction and think outside the box

We can see that area of volume (this would be our H4 Volume candle highlighted) Now look how asia order block is holding for the minute and all those wicks to the downside in an area of known buyers. Potential accumulation. We know that NY has been Buying GBP all week.....whats the chances they will do it this afternoon???

Now of course this is forex anything can happen, but whats the most high probability direction?
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  • #538,089
  • Jul 24, 2020 6:09am Jul 24, 2020 6:09am
Quoting Neil0163
Lets look at it from another retail perspective Big head and shoulders for a short clear as day everyone can see it. Now lets look opposite direction and think outside the box We can see that area of volume (this would be our H4 Volume candle highlighted) Now look how asia order block is holding for the minute and all those wicks to the downside in an area of known buyers. Potential accumulation. We know that NY has been Buying GBP all week.....whats the chances they will do it this afternoon??? Now of course this is forex anything can happen, but...
This post clears it up nicely compare the two charts both have the same price action but are seen in Retail VS Banks
  • #538,090
  • Jul 24, 2020 6:10am Jul 24, 2020 6:10am
Quoting Neil0163
{quote} So in the Case of GU for my self if you look at this H4 chart Price created a fresh level of Demand (grey box) when price cam back to that demand zone it over shot it (closed below but next candle closed back above) this was a liquidity grab to take more demand to push price up higher and you can see that H4 engulfing candle its Volume, only banks have the ability to move price in that manner not our 100k accounts. Now look at the most recent Price action its simply pulling back into an area where we know 100 Percent that there was buyers...
simple answer, Livermore said all about trading.. conditions, right conditions, how many pips you can get from trading against trend? also you should short without confirmation, cause some movement is just profit taking..easier to buy then is trending, probabilities.. supply demand...its just levels from support to resistant, and your work is to see how price is behaving between them, sometimes its better not to trade, not try to be right..
  • #538,091
  • Jul 24, 2020 6:12am Jul 24, 2020 6:12am
Quoting navk
{quote} not likely to go below 2725/2710 today Dips to be bought today. IMO
so, 2716 is the low for today.

I am now ready for 2813 and above.
Intraday only.
  • #538,092
  • Jul 24, 2020 6:16am Jul 24, 2020 6:16am
I was thinking eg strength early London session could help to bring gu down.

seemed like it wasn't good enough.
  • #538,093
  • Jul 24, 2020 6:20am Jul 24, 2020 6:20am
Quoting Neil0163
tell yourself the story guys, Why would they create a level of demand over shoot that level on a retest to grab liquidity to take the market higher to then just sell off a day later makes no sense {image}
Interestingly enough they have done it many times before and made me angry because it didn't make sense. I think we should cut sellers some slack. Some are shorting with clear ideas and just for quick 5-10 pips. After All GU dropped almost 50 pips already from Asia high. I am not trading GU and don't have closed my EU and USDCHF trades in profit. Not everybody is a trend trader. Some are reversion traders, etc.Congrats on your FTMO account. I should consider enrolling for it.
  • #538,094
  • Jul 24, 2020 6:20am Jul 24, 2020 6:20am
Quoting navk
{quote} so, 2716 is the low for today. I am now ready for 2813 and above.

spot on...as always
  • #538,095
  • Jul 24, 2020 6:24am Jul 24, 2020 6:24am
Quoting Mitiblotch
{quote} Interestingly enough they have done it many times before and made me angry because it didn't make sense. I think we should cut sellers some slack. Some are shorting with clear ideas and just for quick 5-10 pips. After All GU dropped almost 50 pips already from Asia high. I am not trading GU and don't have closed my EU and USDCHF trades in profit. Not everybody is a trend trader. Some are reversion traders, etc.Congrats on your FTMO account. I should consider enrolling for it.
i guess so scalping short works.
Thankyou buddy id really think you should
theres different account sizes but there Target is all the same 10% in 30 days with a minimum drawdown of 5% and over all account loss of 10% the only thing different is the price of the challenge but of course its refunded once you pass.
Then verification stage same rules apply except target is 5% profit target in 60 days.....if you can do 10% in 30 days you can do 5% in 60 days lol
  • #538,096
  • Jul 24, 2020 6:28am Jul 24, 2020 6:28am
Quoting Neil0163
{quote} i guess so scalping short works. Thankyou buddy id really think you should theres different account sizes but there Target is all the same 10% in 30 days with a minimum drawdown of 5% and over all account loss of 10% the only thing different is the price of the challenge but of course its refunded once you pass. Then verification stage same rules apply except target is 5% profit target in 60 days.....if you can do 10% in 30 days you can do 5% in 60 days lol
Thanks. I will go for it.
  • #538,097
  • Jul 24, 2020 6:34am Jul 24, 2020 6:34am
Quoting Mitiblotch
{quote} Thanks. I will go for it.
keep me updated!
  • #538,098
  • Jul 24, 2020 6:40am Jul 24, 2020 6:40am
i hear from monday some of read tie say gu about like go all the way breaking 1.28 and up2 away this week. well big guys you got few hours left this week . stop speculate and confuse others
  • #538,099
  • Jul 24, 2020 6:43am Jul 24, 2020 6:43am
just for a cup of coffee...
  • #538,100
  • Jul 24, 2020 6:44am Jul 24, 2020 6:44am
Quoting akim0895
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