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Cable Update (GBPUSD)

  • #549,441
  • Sep 21, 2020 3:28pm Sep 21, 2020 3:28pm
Quoting Roszey
It is gonna be a TRICKY TUESDAY. Trade safe {image}
yeah, most pairs will be tricky tomorrow.

after such big moves price action is usually shit.

hope we get a setup
offering my system to copy trade. check my link
  • #549,442
  • Sep 21, 2020 3:37pm Sep 21, 2020 3:37pm
Quoting nikosk0
{quote} yeah, most pairs will be tricky tomorrow. after such big moves price action is usually shit. hope we get a setup
Yes my friend, the weeks range is almost completed in just one day. 192pips move on Monday only.

At the moment the price is sitting on June's high once more. It might break it this time or not

Lets see.
Le$$ I$ More
  • #549,443
  • Sep 21, 2020 3:42pm Sep 21, 2020 3:42pm
Quoting nikosk0
{quote} basic market structure you ignorant fool. n you call yourself a trader?
This fool doesn’t need a zig zag chart to make money , with all of this I’m sure you will still take a bad trade.
  • #549,444
  • Sep 21, 2020 3:45pm Sep 21, 2020 3:45pm
Quoting Roszey
It is gonna be a TRICKY TUESDAY. Trade safe {image}
The two keys news tomorrow will be the market driver , one might make the pairs buy and the other sell it back down , so I think a buy first before a sell
  • #549,445
  • Sep 21, 2020 3:56pm Sep 21, 2020 3:56pm
Quoting Roszey
It is gonna be a TRICKY TUESDAY. Trade safe {image}
Looks very nice, I couldn't agree more. My long from 1.2790 has a tp at 1.2865. I will short it from there too.
  • #549,446
  • Sep 21, 2020 4:02pm Sep 21, 2020 4:02pm
Quoting Roszey
It is gonna be a TRICKY TUESDAY. Trade safe {image}

No. It is gonna be #TittyTuesday...
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Maadik Hugiis. IQ 69.
  • #549,447
  • Sep 21, 2020 4:22pm Sep 21, 2020 4:22pm
Quoting ZTrader123
{image} I have been testing this new concept of "dollar divergence" if thats what you want to call it, according to this GBP has some strength shown as dollar was able to wipe its old highs while GBP wasnt able to break last weeks low. Not too sure how valid this is as im fairly new to this concept but its something that could result in a good pull back from where we are at now. Good luck all
Hi Ztrader,
From my limited knowledge, there are parameters which you need to consider:

1. Dollar index is merely the collective performance of USD-pairs. Just like Index Dow, Nasdaq, etc, Index just shows the collective performance of their component stocks.

2. Dollar Index has 2 versions. Old version DXY has large/huge EURUSD component and no NZDUSD. The newer WSJ USD Index is marketed to be more balance having much more currency pairs with rebalancing every 3 years. You can WIKI for more info.

3. EURUSD, GBPUSD and USDJPY usually are the biggest component, hence their big moves together will affects the USD Index. But if any big moves concerns only a particular currency, (e,g last two weeks GBPUSD plunge but others just stagnant), the Index will not move much.

My perspective, could be wrong.
  • #549,448
  • Sep 21, 2020 4:33pm Sep 21, 2020 4:33pm
Quoting nikosk0
my view on pound is this. i will trade the long big move and that move alone. it is possible that i will trade the sort tommorow if i see what i want its gonna take a while, maybe next week or the week after {image}
Hi nikosk,
I trade by market structure as well, and a I also agree with you that after a big move the price action will be shit.
I have the same support/resistance level as shown in your chart.
The distance between each S/R is very large number of pips, which to me makes it hard to trade.
Going Long has the best R:R, but that is risky considering we are having broadbase market sell-off.
  • #549,449
  • Sep 21, 2020 4:35pm Sep 21, 2020 4:35pm
Quoting OxyGen_FX
{quote} Hi Ztrader, From my limited knowledge, there are parameters which you need to consider: 1. Dollar index is merely the collective performance of USD-pairs. Just like Index Dow, Nasdaq, etc, Index just shows the collective performance of their component stocks. 2. Dollar Index has 2 versions. Old version DXY has large/huge EURUSD component and no NZDUSD. The newer WSJ USD Index is marketed to be more balance having much more currency pairs with rebalancing every 3 years. You can WIKI for more info. 3. EURUSD, GBPUSD and USDJPY usually are...

Thanks a ton for the input!!

Yeah i have just recently been testing this and trying it out and ive noticed DXY is like 80% correlated to euro so thats good to know its largly made up of EUR

But here is an example trade i took last week where GBP made a higher low and DXY broke a previous high creating a higher high.
Ive found that this strategy works best in a ranging market as when a market is trending signals can be false, but since the market ranges a lot you can get some good setups! Most of the moves ive tested like this result in a ~50 pip movement usually. Even i still have no clue if this is all just coincidence or there's actually some method behind this. Ive made my own hypotheses on why this might happen so if anyone wants to hear about that lmk!

(this low was also created just at london close and took out and old low so that added some more confluence to the trade)
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Thanks for the insight and good trading my friend!
  • #549,450
  • Sep 21, 2020 5:55pm Sep 21, 2020 5:55pm
will wait here for long.. 1.272xx. Short scalp mode on
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  • #549,451
  • Sep 21, 2020 5:55pm Sep 21, 2020 5:55pm
Quoting Dzap
I am a bear on GU. TP 1.266
Still going, nothing has changed
its just a script. join the club
  • #549,452
  • Sep 21, 2020 6:39pm Sep 21, 2020 6:39pm
Quoting epzero
{quote} Everyone knows your trapped in a buy so don't pretend like your analyzing the market , i know your praying for a buy so you can escape, it will only get to pivot point and back down again so get ready to accept losses at that price. next time follow who know road and not your blind AKIM.

I was long, yes you are right, I took a loss and now Im out. Do you not take any losses? Are you god? Is that why you live in a little mud hut??

Also how stupid are you? Did you even read what I wrote? I said it will go up and then down. Clearly you are too stupid to read/write so maybe you should go back to your little hut! At least put together a complete sentence if you are going to try to trash talk me.

Stop talking DUMBASS
  • #549,453
  • Sep 21, 2020 6:47pm Sep 21, 2020 6:47pm
one more daily short 864 hit (if) i will go short again
  • #549,454
  • Sep 21, 2020 7:07pm Sep 21, 2020 7:07pm
gold open buy
  • #549,455
  • Sep 21, 2020 7:36pm Sep 21, 2020 7:36pm
Quoting Headland
{quote} Understand you need an 'edge' for trading any instrument - howseoever derived...mostly technical in here - some fundamentally based. Understand what one is . Find yourself an edge, prove it works over a large sample of trades ..build up some stats on it, -and- learn the 'idiosyncrancies' of this particular pairing/instument....practice practice practice, screen time, screen time, screen time, ...no short cuts I'm afraid. That's it.
Roger that Sir!
Golden Goose Return This Month: na
  • #549,456
  • Sep 21, 2020 8:34pm Sep 21, 2020 8:34pm
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maybe wrong
  • #549,457
  • Sep 21, 2020 9:19pm Sep 21, 2020 9:19pm
Quoting nessus94
{quote} Max DD is 200 pips as i swing jay is long 1,338 and kept adding. Imagine the blood

So, when it is BEFORE THE FACT, your calls do have 300+ pips of a draw-down, at least?

When AFTER THE FACT, still (?!?), you are like 200 pips of a draw-down, cause you are now... a swing trader?

But you are accusing everyone here, including me, that we react after the fact, always?! Hello?
Maadik Hugiis. IQ 69.
  • #549,458
  • Sep 21, 2020 9:23pm Sep 21, 2020 9:23pm
For 20 pips
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yes yes yes
  • #549,459
  • Sep 21, 2020 10:01pm Sep 21, 2020 10:01pm
Quoting epzero
{quote} The two keys news tomorrow will be the market driver , one might make the pairs buy and the other sell it back down , so I think a buy first before a sell
i think so.
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  • #549,460
  • Edited 10:20pm Sep 21, 2020 10:05pm | Edited 10:20pm
Quoting Moty
For 20 pips {image}
Switched to short
New hourly low
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yes yes yes
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