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Cable Update (GBPUSD)

  • #553,681
  • Oct 16, 2020 7:37am Oct 16, 2020 7:37am
Quoting pipcenturion
{quote} It is not an indicator. I do the computation on MS Excel Here's a screen shot for cable today {image}
Question...how do you use volume as is decentralized market? probably you see the volume through your broker....
Twitter: Rummer_grapes
  • #553,682
  • Oct 16, 2020 7:39am Oct 16, 2020 7:39am
Quoting Hammad12345
{quote} I dont normally scalp M1/M5 but the thing just happened now, made 30 pips on M1 (maybe a lot of luck on my side) but please dont listen to me im just a learner. regards
OK GL bro.. im a learner too..
Trade what you see, not what you think.. react and stay sharp..
  • #553,683
  • Oct 16, 2020 7:42am Oct 16, 2020 7:42am
Quoting nessus94
hourly inside candle i am gone i will not trade it
that is the reason it is not safe to trade gbp unless you scalp it but risky today

it is better to switch currency
Make money by doing the opposite of Giveachance aka loser
  • #553,684
  • Oct 16, 2020 7:48am Oct 16, 2020 7:48am


4PM (London time) press conference from downing street. Johnson is gonna hold a press conference.

Stay tuned for more jokes.....
Twitter: Rummer_grapes
  • #553,685
  • Oct 16, 2020 7:49am Oct 16, 2020 7:49am
Quoting Bacco
{quote} Question...how do you use volume as is decentralized market? probably you see the volume through your broker....
I use volume from my broker.

I guess I should mention that I am very aware that there is no centralized exchange for FOREX.

Regardless of this fact, the volume from the Broker is sufficient.

The challenge is that most people do not know what to do with the volume data from the Broker because it is not presented in a "readily use-able form"

The volume given by the Broker has both the quantity (volume) for buyers and sellers. In actual fact, most of the transactions "cancel themselves out"

There will then be a net volume either in the buy/sell direction. This is the "effective volume" that will move price and it is with this volume the "cost per unit" for the day (or whatever period) can be determined.
  • #553,686
  • Oct 16, 2020 7:50am Oct 16, 2020 7:50am
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yes yes yes
  • #553,687
  • Oct 16, 2020 7:53am Oct 16, 2020 7:53am
Quoting pipcenturion
{quote} I use volume from my broker. I guess I should mention that I am very aware that there is no centralized exchange for FOREX. Regardless of this fact, the volume from the Broker is sufficient. The challenge is that most people do not know what to do with the volume data from the Broker because it is not presented in a "readily use-able form" The volume given by the Broker has both the quantity (volume) for buyers and sellers. In actual fact, most of the transactions "cancel themselves out" There will then be a net volume either in the buy/sell...
Right...but we dont see the full volume and we dont have the whole picture of that as there are are lot of transaction missed placed through banks and other participants.....is like depth of market... useless if you can see the orders placed only through your broker....but the most important is that works for u....
Twitter: Rummer_grapes
  • #553,688
  • Oct 16, 2020 7:57am Oct 16, 2020 7:57am
Quoting Bacco
{quote} Right...but we dont see the full volume and we dont have the whole picture of that as there are are lot of transaction missed placed through banks and other participants.....is like depth of market... useless if you can see the orders placed only through your broker....but the most important is that works for u....
The trader doesn't need to know the "full" volume.

In fluid mechanics, just a segment of the flow is analyzed and with the findings, generalization is made concerning other parts of the pipe or tube.

It is very much same with FOREX.
  • #553,689
  • Oct 16, 2020 7:59am Oct 16, 2020 7:59am
it spiked but also failed to break, not sure if Boris is making a statement ,anyway it's difficult to see positive in it, since no sign of deal as yet
consolidation zone created ,
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #553,690
  • Oct 16, 2020 8:00am Oct 16, 2020 8:00am
jiga nu can beres uy ka handap na ieu GU.. jiga nu bakal LL kieu carana mah

if see how recent up move failed .. so now my view back to original target down there going to green zone area ( buyer zone ) on my chart..
but honestly im not quite sure because now its friday its dificult to see because profit taking, and fake signal action can be happen anytime without warning on this day
Attached Image (click to enlarge)
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Trade what you see, not what you think.. react and stay sharp..
  • #553,691
  • Oct 16, 2020 8:02am Oct 16, 2020 8:02am
Quoting pipcenturion
{quote} The trader doesn't need to know the "full" volume. In fluid mechanics, just a segment of the flow is analyzed and with the findings, generalization is made concerning other parts of the pipe or tube. It is very much same with FOREX.
As long as it works for u.....
Twitter: Rummer_grapes
  • #553,692
  • Oct 16, 2020 8:08am Oct 16, 2020 8:08am
Quoting Coreg2004
{quote} Bones, I don't have preferences in choosing the zone or level as my potential reversal point, I just try to follow the chart...but first let's put the ground rules in place; 1) Which swing do we analyze? 2) What TF we use for our setups? Using a daily or 4H chart it's perfectly fine to sell at point (c), we have minimum conditions met (50% ret, timing (16 days down and 13 days up) and pattern (abc)) also it's nothing wrong to wait for so-called big correction @61.8% Fibonacci level but the trade might be missed... What is the objective?-...
Yea I'm often not thinking about time right ,so what time range is ok for the up against down ?
Also you go for the smaller pattern or clearer then see the development as you go ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #553,693
  • Oct 16, 2020 8:10am Oct 16, 2020 8:10am
the drop is here
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yes yes yes
  • #553,694
  • Oct 16, 2020 8:15am Oct 16, 2020 8:15am
Only 70 pips drop since the announce, ftse still in green...this is what market is thinking of this negotiations
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Twitter: Rummer_grapes
  • #553,695
  • Oct 16, 2020 8:15am Oct 16, 2020 8:15am
Quoting Moty
the drop is here {image}
with you brother
  • #553,696
  • Oct 16, 2020 8:18am Oct 16, 2020 8:18am
Quoting Moty
it's coming, trump phone home {image} {image}
So SO we should expect to see further down side. ?
  • #553,697
  • Oct 16, 2020 8:19am Oct 16, 2020 8:19am
Quoting Abeeha
{quote} with you brother
Switch to long
Golden Goose Return This Month: na
  • #553,698
  • Oct 16, 2020 8:21am Oct 16, 2020 8:21am
Quoting lampuah
{quote} Switch to long
not now brother
still trend is down side
  • #553,699
  • Oct 16, 2020 8:26am Oct 16, 2020 8:26am
Quoting Abeeha
{quote} not now brother still trend is down side
Too many rejections downside at this level...
Golden Goose Return This Month: na
  • #553,700
  • Oct 16, 2020 8:27am Oct 16, 2020 8:27am
Quoting lampuah
{quote} Too many rejections downside at this level...
hope today gbp tuch 1.2850. because today is friday
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