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Cable Update (GBPUSD)

  • #547,441
  • Sep 10, 2020 11:08am Sep 10, 2020 11:08am
Quoting kuroro001
{quote} Market participants think otherwise Ask the dealers about it {image}

News, data, fundamentals are all just part of the game to create liquidity for the Dealers to do their thing.

Smoke and mirrors in their war plan to milk the daily millions out retail

Retail traders are just pawns for them in the big picture.

Learn to lift the veil of all this, then all the bad emotions of what must and what really happens will disappear.
  • #547,442
  • Sep 10, 2020 11:11am Sep 10, 2020 11:11am
Quoting forda
{quote} added to my long here. tp 1.345 but if wave 4 overlap wave 1 i’ll be looking to close about 1.305 trade safe
stay with small size trades, this move is happening with a relatively weak DXY.
  • #547,443
  • Sep 10, 2020 11:13am Sep 10, 2020 11:13am
Like shooting fish in a barrel today, larrrvely! I wonder if we'll get a nice bounce off 780?
  • #547,444
  • Sep 10, 2020 11:13am Sep 10, 2020 11:13am
Quoting BitcoinBoff
{quote} News, data, fundamentals are all just part of the game to create liquidity for the Dealers to do their thing. Smoke and mirrors in their war plan to milk the daily millions out retail Retail traders are just pawns for them in the big picture. Learn to lift the veil of all this, then all the bad emotions of what must and what really happens will disappear.
So you just look to the chart? Do you believe that everything you can see from the chart? My point is like one famous trader said- look for technicals and fundamentals will follow
  • #547,445
  • Sep 10, 2020 11:16am Sep 10, 2020 11:16am
European exporters are crying atm...particulary those that sell into the UK
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #547,446
  • Sep 10, 2020 11:18am Sep 10, 2020 11:18am
Just a few days ago we were discussing the necessity of having a stop loss here. this will get interesting if DXY starts a bullish wave now.
Attached Image (click to enlarge)
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  • #547,447
  • Sep 10, 2020 11:23am Sep 10, 2020 11:23am
Quoting shahab8b
GU, next S zones 1.2750-1.280, and 1.26-1.265 {image}
yes of course
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  • #547,448
  • Sep 10, 2020 11:24am Sep 10, 2020 11:24am
No easier than trading when done simple.

Feels bad that despite my clear trading advice, still many enter the market at BS levels.

I emphasized a lot at past about 1.2880s support, price bounced up to 1.3050 from it then at second attempt broke it today, down to 1.2855 but bounced back to 1.2880s to emphasize that it is turning it to resistance in preparation for way deeper down move mainly to 1.2770s.
So very clear TP/SL and entry level to follow..
Still many struggle to understand easy trading advice

What can I do more to help
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #547,449
  • Sep 10, 2020 11:27am Sep 10, 2020 11:27am
Quoting Bones
{quote} I think double top abc is bullish continuation ? {image}
assess the monthly if it can hold.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #547,450
  • Sep 10, 2020 11:31am Sep 10, 2020 11:31am
Quoting Bones
{quote} assess the monthly if it can hold. {image}
Bones, I think the weekly HH/LL structure may hold and drive the price higher eventually.
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  • #547,451
  • Sep 10, 2020 11:33am Sep 10, 2020 11:33am
Quoting Georginson
Long re entered 1.2858... extremely tight stop 1.2849

I'm with you about the medium/long term bullish bias, but if I can give you an advise, you should be looking
for key support areas. We just touched the first, still early to say if it holds (I don't think so).
The small orchid area, 1.2660/80 has the best chances atm.
Many green pips to all

Attached Image (click to enlarge)
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We just crossed the 50% retracement of the bullish rally
  • #547,452
  • Sep 10, 2020 11:34am Sep 10, 2020 11:34am
Quoting goldencalf
{quote} So you just look to the chart? Do you believe that everything you can see from the chart? My point is like one famous trader said- look for technicals and fundamentals will follow

If I can get my human head out of the way, and just trade what my chart shows me, I will never be wrong.

Simple example :

Tug of war
It does not matter who the two forces at the end of the rope is, as long as I can measure the force in the rope, I can determine direction.
How far the pull will be to one side, Im slowly starting to unravel that mystery.

I rarely look at data release or whats happening in the news, Im not oblivious to it, but its not the driving factor.

Retail ,( dumb money), they get blinded in that smoke & mirrors mystery, exactly what smart money wants.

Go Youtube Anton Kreil videos on how he exposes institutional dealers, adopt that kind of thinking

Think in terms of war :
If i can get my enemy emotional, confused, $ stressed, and i can get them all as a herd to operate the same, well, then i own their asses.
Think of how big data is being used by big bussiness to steer us to buy what they want us to buy etc.

FX is the biggest shifter of currency daily on the planet.
Goes without saying they would create the biggest smoke & mirrors game to confuse retail
Today a perfect example

Me thinks its 100% possible to build a system to trade with them, and that system means NOT to do what everyone else is doing, becauus they on the paying side, NOT the receiving side.

Its a difficult consept to grasp, it took me months to get rid of all the junk we get taught to follow
  • #547,453
  • Sep 10, 2020 11:37am Sep 10, 2020 11:37am
Quoting shahab8b
Just a few days ago we were discussing the necessity of having a stop loss here. this will get interesting if DXY starts a bullish wave now. {image}
If one is trying to take a trade against Moving averages, then stop loss is essential.

Trading with MA and picking 50 pips instead of 200 pips is fine.
Attached Image (click to enlarge)
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Intraday only.
  • #547,454
  • Sep 10, 2020 11:38am Sep 10, 2020 11:38am
Quoting shahab8b
{quote} Bones, I think the weekly HH/LL structure may hold and drive the price higher eventually. {image}
daily pattern doesn't get stronger ,the chart is range can go anywhere in it but not over the high anytime soon.It is side ,but currently down off a major tl with a fundamental nightmare in play.
down nearly 700 pip in 2 week, last month broke down already, after failing to break up...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #547,455
  • Sep 10, 2020 11:43am Sep 10, 2020 11:43am
Quoting Black-Star
Good Day Everyone, My view on Cable Long Term View (D1 and H4 Charts) From my analysis, it seems like Cable is in a Wave 4 correction(Red) and the B Wave(Blue) of the correction is almost complete. Price is also approaching Monthly Resistance 1 which may course a challenge for the bull run to continue. I have also projected some fib levels which have all landed in the 1.3351/3400 zone which may also act as Resistance. So by the looks of things Bulls may temporarily loose control from around 1.3375/3400 area and Bears may push price back to 1,2870...
Cable has caused major carnage to bull traders Congrats to all who traded on the bear side
  • #547,456
  • Sep 10, 2020 11:44am Sep 10, 2020 11:44am
i need a good trading system, please guide me
feel free to invite me to your forum, if you have any
  • #547,457
  • Sep 10, 2020 11:44am Sep 10, 2020 11:44am
Quoting OnlineAddict
{quote} I take the bet, too. I say 1.28 before 1.35. I can stop posting for a month, even if I win...no problem.
1.28 hit.
Everyone can see the chart, but only a few can actually read it.
  • #547,458
  • Sep 10, 2020 11:46am Sep 10, 2020 11:46am
Quoting OnlineAddict
{quote} 1.28 hit.
Guess half the posters gotta go quiet now.
  • #547,459
  • Sep 10, 2020 11:47am Sep 10, 2020 11:47am
Quoting navk
{quote} If one is trying to take a trade against Moving averages, then stop loss is essential. Trading with MA and picking 50 pips instead of 200 pips is fine. {image}
navk, I think the max SL for swing trades (where you are looking at +150-300 pips tp) is 1/2 ADR (60 pips on GU more or less, that prevents you from random noise). that will give you a RRR of 2.5:1 to 5:1. If I enter a trade and it goes 60 pips against me, that means I was wrong and I will just close it.
  • #547,460
  • Sep 10, 2020 11:53am Sep 10, 2020 11:53am
Quoting shahab8b
{quote} navk, I think the max SL for swing trades (where you are looking at +150-300 pips tp) is 1/2 ADR (60 pips on GU more or less, that prevents you from random noise). that will give you a RRR of 2.5:1 to 5:1. If I enter a trade and it goes 60 pips against me, that means I was wrong and I will just close it.
i look to 1 to 1 or 1 to 1.5.

With small lot size.

This is my real account.

My Prop account is different.

Will have to manage risk.... than profit.

The profit automatically comes if i manage risk. The risk here is 5 % a day( floating ) . 10 % a month( loss ) . Bigger capital.
Intraday only.
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