Cable Update (GBPUSD) | Page 27679 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #553,561
  • Oct 16, 2020 4:01am Oct 16, 2020 4:01am
Quoting Hammad12345
{quote} Based on it i took a bull trade, which failed, any advice? regards
yeh, how do you know that acting on an engulfing candle on this pairing on that t/f represents an edge ? Over what large sample size do you have the empirical evidence/stats to prove that it does ?For eg what is the winning strike rate over say a 500 sample size at 1:1 and 2:1 R;R etc ? I'm guessing you are going just from anecdotal evidence/observation which is not sufficiently reliable in proving an edge exists or not.
Trader with an Edge.
  • #553,562
  • Oct 16, 2020 4:08am Oct 16, 2020 4:08am
Quoting Headland
{quote} yeh, how do you know that acting on an engulfing candle on this pairing on that t/f represents an edge ? Over what large sample size do you have the empirical evidence/stats to prove that it does ?For eg what is the winning strike rate over say a 500 sample size at 1:1 and 2:1 R;R etc ? I'm guessing you are going just from anecdotal evidence/observation which is not sufficiently reliable in proving an edge exists or not.

Candlesticks are a lagging indicator
  • #553,563
  • Oct 16, 2020 4:08am Oct 16, 2020 4:08am
Quoting Hammad12345
{quote} Based on it i took a bull trade, which failed, any advice? regards
i dont know how to advise other, about style of trading
but i can share my style maybe it can help
i dont took trade base 1 confirmation only.. i need at least 3 or 4 confirm before i Open any Position>
i need to see confirm on

1. Market Structure (i.e HnS. iHnS, TeaCup, etc..)
2. Candle Patern i just use (double bot/up, Shooting Stars, Engulfing) i ignore any other candle because idk how to used it
3. Fibo level and TrendLine
4. RSI to see if theres any divergence
5. Volume
6. Im used 4H, 1D, 1W, for S/R level so i can see supply or demand zone less noise .. i never used lower than 4H TF for my analysis
and ofc most important for me is
Trading Plan

in the end theres no 100% winning but i manage to trade with this style and have enough profit for living..
Trade what you see, not what you think.. react and stay sharp..
  • #553,564
  • Oct 16, 2020 4:09am Oct 16, 2020 4:09am
1.2967 is a level intra-day traders should watch.

The value area was created on Wednesday and it seems as though price has not quite respected it yet.
  • #553,565
  • Oct 16, 2020 4:12am Oct 16, 2020 4:12am
Quoting miedpreneur
{quote} i dont know how to advise other, about style of trading but i can share my style maybe it can help i dont took trade base 1 confirmation only.. i need at least 3 or 4 confirm before i Open any Position> i need to see confirm on 1. Market Structure (i.e HnS. iHnS, TeaCup, etc..) 2. Candle Patern i just use (double bot/up, Shooting Stars, Engulfing) i ignore any other candle because idk how to used it 3. Fibo level and TrendLine 4. RSI to see if theres any divergence 5. Volume 6. Im used 4H, 1D, 1W, for S/R level so i can see supply or demand...
Thank you for the detailed reply

regards
  • #553,566
  • Oct 16, 2020 4:15am Oct 16, 2020 4:15am
Quoting Hammad12345
{quote} Thank you for the detailed reply regards
Youre Welcome.. sama-sama..
Trade what you see, not what you think.. react and stay sharp..
  • #553,567
  • Oct 16, 2020 4:16am Oct 16, 2020 4:16am
Quoting Headland
{quote} yeh, how do you know that acting on an engulfing candle on this pairing on that t/f represents an edge ? Over what large sample size do you have the empirical evidence/stats to prove that it does ?For eg what is the winning strike rate over say a 500 sample size at 1:1 and 2:1 R;R etc ? I'm guessing you are going just from anecdotal evidence/observation which is not sufficiently reliable in proving an edge exists or not.
very helpful, thanks.

regards
  • #553,568
  • Oct 16, 2020 4:17am Oct 16, 2020 4:17am
Quoting Trader4818
{quote} Candlesticks are a lagging indicator
...to the extent they are a representation of what happened to price between a start and end point - yes, but there is nothing wrong with any 'lagging indicator' if they form a repeating pattern that you have proven over a large sample size represents a tradable edge on the instrument/ t/f you are trading it/them on when they set-up.
Trader with an Edge.
  • #553,569
  • Oct 16, 2020 4:22am Oct 16, 2020 4:22am
intinamah ulah hilap ngopi jeung ngudud meh teu stress teuing nempo chart.. ahaha..

sorry for language..
Trade what you see, not what you think.. react and stay sharp..
  • #553,570
  • Oct 16, 2020 4:32am Oct 16, 2020 4:32am
Quoting pipcenturion
1.2967 is a level intra-day traders should watch. The value area was created on Wednesday and it seems as though price has not quite respected it yet.
agreed, looking at todays movement i think going over 1.297 and staying there could see another move forward. currently its retreated from the daily pivot so another move forward needs a bit of a push
Insane in the Brain..
  • #553,571
  • Oct 16, 2020 4:35am Oct 16, 2020 4:35am
Quoting Sunnyd77
Does anyone know why GBP/USD just spiked higher? It just spiked 40 pips higher in 5 min. Wow!!!
Hi Sunny,
spike probably due to this tweet. No, its not even a "news", nor a official statement. Just a tweet. These are dangerous trading times.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 111 KB

Whenever you see strange moves, just click the NEWS tab of this forum for a quick check. Or Marketwatch or Livesquawk or Yahoo etc etc.

But regardless, a strange move may cascade and create more and more panic buying/selling.
Especially with robots nowadays seeking keywords to trade (or alert the half drunk Funds Manager enjoying at a club...)
  • #553,572
  • Oct 16, 2020 4:36am Oct 16, 2020 4:36am
there is no strong setup today

caution with a brexit news
having no trades is best for now
Make money by doing the opposite of Giveachance aka loser
  • #553,573
  • Oct 16, 2020 4:48am Oct 16, 2020 4:48am
Quoting OxyGen_FX
{quote} Hi Sunny, spike probably due to this tweet. No, its not even a "news", nor a official statement. Just a tweet. These are dangerous trading times. {image} Whenever you see strange moves, just click the NEWS tab of this forum for a quick check. Or Marketwatch or Livesquawk or Yahoo etc etc. But regardless, a strange move may cascade and create more and more panic buying/selling. Especially with robots nowadays seeking keywords to trade (or alert the half drunk Funds Manager enjoying at a club...)
Thanks Bro. I actually suspected it's news, but didn't know the news. This helped.
  • #553,574
  • Oct 16, 2020 4:50am Oct 16, 2020 4:50am
Quoting nessus94
there is no strong setup today caution with a brexit news having no trades is best for now
...yeh we have to watch for that...but so far today it has depended on your t/f (s) and edge traded....So far this month though price has travelled only 38% of the 3mth mth amr...and the chance of price reaching the 30 day adr has dropped to under 36% based on last 30 trading days - a sign of the decreased ranges lately by the looks of it. Hi-prob trading opps on the 1hr and below lower t/f's s far today.
Trader with an Edge.
  • #553,575
  • Oct 16, 2020 4:56am Oct 16, 2020 4:56am
In both cases, the bull candle is impressive in itself, but the dark shadow of the bear candle in front of it causes it to be rejected
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1.png Size: 26 KB
Click to Enlarge Name: gu2.png Size: 33 KB
Click to Enlarge Name: dx1.png Size: 31 KB
yes yes yes
  • #553,576
  • Oct 16, 2020 4:57am Oct 16, 2020 4:57am
Quoting miedpreneur
intinamah ulah hilap ngopi jeung ngudud meh teu stress teuing nempo chart.. ahaha.. sorry for language..
Mangga atuh kang ngopi sareng bala2
  • #553,577
  • Oct 16, 2020 4:59am Oct 16, 2020 4:59am
Going Long

Buy 2941

H1 signal, M5 timing
in wondering about yourself, you forgot what you came here to be part of
  • #553,578
  • Oct 16, 2020 5:02am Oct 16, 2020 5:02am
Quoting Moty
In both cases, the bull candle is impressive in itself, but the dark shadow of the bear candle in front of it causes it to be rejected {image} {image} {image}
Time for a massage. Tired of looking at charts
  • #553,579
  • Oct 16, 2020 5:05am Oct 16, 2020 5:05am
Quoting bale
{quote} Time for a massage. Tired of looking at charts
Brexit phone home
price rejected from trend line
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 32 KB
yes yes yes
  • #553,580
  • Oct 16, 2020 5:05am Oct 16, 2020 5:05am
Quoting knkie
Going Long Buy 2941 H1 signal, M5 timing
Buy from pp without target and sl?
211 traders viewing now, 2 are registered:
,
munlee