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Cable Update (GBPUSD)

  • #557,221
  • Nov 5, 2020 8:53am Nov 5, 2020 8:53am
Everything is rising, market, commodities, risk on, its like the economy is the best ever

thank you stimulus
COT: The precious data ignored
  • #557,222
  • Nov 5, 2020 8:53am Nov 5, 2020 8:53am
waiting for the break
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yes yes yes
  • #557,223
  • Nov 5, 2020 8:58am Nov 5, 2020 8:58am
Quoting MoneyZilla
Gold has room to 1925-30, at least. Which hints the Cable might go higher with another 200 pips? edit: plus, this gets better and better...

Cable could not go to 1.3250, as I did hope about... but the gold went to 1930.

Don't know what will happen, on gold, as I measure the next top based on my draw-down. Doing only buys on gold. If the buy trend continues on gold? I can't tell anything about the next tops... but if the counter trend correction or range, stays? At the next downwards movement, I can tell the following top +-$10 or so. Purely based on the draw-down collected during the drop...
Maadik Hugiis. IQ 69.
  • #557,224
  • Nov 5, 2020 8:59am Nov 5, 2020 8:59am
...back at desk updating charts...didn't miss much....price at the hi ran into bottom of the 4hr part of that prev 1hr/4hr sw hi zone extending to 3140. 1hr runs circa 3123 - 3140. 143% of 30day adr achieved so far today. Ftse and £ liking the Boe stuff earlier. 4hr below.
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Trader with an Edge.
  • #557,225
  • Nov 5, 2020 8:59am Nov 5, 2020 8:59am
Quoting dimitricss
In short... Finger cross.. {image}
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Trade with prediction = witch with her visions lol
  • #557,226
  • Nov 5, 2020 9:01am Nov 5, 2020 9:01am
Quoting dimitricss
{quote} {image}
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Maadik Hugiis. IQ 69.
  • #557,227
  • Nov 5, 2020 9:02am Nov 5, 2020 9:02am
"the inner circle trader"..i know the guy.haha

i Just think he is playing small.Too afraid to push the limits.
But he is a phenomenal guy nonetheless.because he does make money on the shot moves.

Why because,i dont belive that much in the MOVING AVERAGES trading...the banks know this and use it to trap and victimise pple constalty.(dont like ema's).

This guys we trade against or who create the markets for us to trade(market makers) have nothing on their charts man...the concept they use is very simple (K.I.S.S),Which stands for KEEP IT SIMPLE STUPID.

their charts are very clean and simple...support and resistance is all that matter to them.no indicator or just 1 ull find them using,(keep it simple stupid)they say.

Yeah right now the elections are very close,anything could happen...the best strategy is always to wait.
If Trump wins LOAD UP HEAVY ON INDICES,NAS 100 AND US 30 +SPX500 ....The way i see it wall street likes trump,because he is a businessman and they believe in him to understand the business side of things.

BIDEN IS A HUGE QUESTION MARK,WE DONT KNOW WHAT HE BRINGS-OR WHAT WALL STREET THINKS OF HIM.(Still to be witnessed).
  • #557,228
  • Nov 5, 2020 9:06am Nov 5, 2020 9:06am
Shall the bankers, fill in with money, the pockets of the retail traders?!?
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Maadik Hugiis. IQ 69.
  • #557,229
  • Nov 5, 2020 9:07am Nov 5, 2020 9:07am
sold here
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  • #557,230
  • Nov 5, 2020 9:11am Nov 5, 2020 9:11am
Quoting EXpRINCE
"the inner circle trader"..i know the guy.haha i Just think he is playing small.Too afraid to push the limits. But he is a phenomenal guy nonetheless.because he does make money on the shot moves. Why because,i dont belive that much in the MOVING AVERAGES trading...the banks know this and use it to trap and victimise pple constalty.(dont like ema's). This guys we trade against or who create the markets for us to trade(market makers) have nothing on their charts man...the concept they use is very simple (K.I.S.S),Which stands for KEEP IT SIMPLE STUPID....
I dont use emas to only to help me identify trend in M or W chart
I like is methods , the most important thing for me to bbe honest is to learn the narrative that he explains
  • #557,231
  • Nov 5, 2020 9:11am Nov 5, 2020 9:11am
Quoting dimitricss
{quote} {image}
Dimtricsss was that a demo account or live account mate??

Sorry man,keep your head up,its not the end of the world.


Your approach of using the Stochstics indicator is a great approach.you were just missing a few addittional concepts.
You still have long way to go and a lot to learn,but you are on the right track.

Everytime the Stochastics is overbought or oversold...always wait for price action to confirm the overbought or oversold move you want to make with a double or triple top.

Thus to say never trade an overbought or oversold stochastics without price on the charts showing you a Double bottom or Triple bottom 1st before entry.
its that simple and works everytime.
  • #557,232
  • Nov 5, 2020 9:12am Nov 5, 2020 9:12am
Weekly range 286 pips so far (1.2854 - 1.3140). 320 pips expected probable maximum range for this week.

If 320 pips is to be attained
1.2854 (low) + 320 pips = 1.3174

* 1.2854 is used as constant since it's the high that is vulnerable to being broken

Current price being 1.3090 has 85 maximum more pips to rise before halt or crash back down. So 1.3174 is the maximum price may touch this week

The risk reward favours selling.

This week is expected to end bullish between 1.3020 - 1.3070 close is expected. Violation of 1.3100 today means selling target should be modified to 1.3020 to be on a safe side.
Data + Stat + Risk/Emotions Management
  • #557,233
  • Nov 5, 2020 9:15am Nov 5, 2020 9:15am
Quoting HBN08
{quote} I dont use emas to only to help me identify trend in M or W chart I like is methods , the most important thing for me to bbe honest is to learn the narrative that he explains
thats right...i do that sometimes too..i turn on 1 ema just to see if we still in upward bias or downward bias...but i delete it from my charts thereafter,when i am swinging.
keep it simple always,clean charts as possible.

if im intra day trading i dont even consider it.
  • #557,234
  • Nov 5, 2020 9:15am Nov 5, 2020 9:15am
Quoting HBN08
sold here {image}
USD getting sold hard though.
I will tear the world apart for you.
  • #557,235
  • Nov 5, 2020 9:16am Nov 5, 2020 9:16am
Gold broke out into a trend , reversing the correction on daily t/f , bad news for dollar good for cable, again im not a fan of correlations but hey it seems to be the way things go sometimes
Follow The Markets Structure - Patience and Discipline
  • #557,236
  • Nov 5, 2020 9:18am Nov 5, 2020 9:18am
Quoting EXpRINCE
{quote} Dimtricsss was that a demo account or live account mate?? Sorry man,keep your head up,its not the end of the world. Your approach of using the Stochstics indicator is a great approach.you were just missing a few addittional concepts. You still have long way to go and a lot to learn,but you are on the right track. Everytime the Stochastics is overbought or oversold...always wait for price action to confirm the overbought or oversold move you want to make with a double or triple top. Thus to say never trade an overbought or oversold stochastics...
Thank you bro
Trade with prediction = witch with her visions lol
  • #557,237
  • Nov 5, 2020 9:20am Nov 5, 2020 9:20am
Quoting Barnell
{quote} USD getting sold hard though.
Stoped
  • #557,238
  • Nov 5, 2020 9:21am Nov 5, 2020 9:21am
Quoting EXpRINCE
{quote} thats right...i do that sometimes too..i turn on 1 ema just to see if we still in upward bias or downward bias...but i delete it from my charts thereafter,when i am swinging. keep it simple always,clean charts as possible. if im intra day trading i dont even consider it.
I plot 2 emas but ya i clean it to after to
  • #557,239
  • Nov 5, 2020 9:23am Nov 5, 2020 9:23am
Quoting pipfarm
Gold broke out into a trend , reversing the correction on daily t/f , bad news for dollar good for cable, again im not a fan of correlations but hey it seems to be the way things go sometimes
co-relation is sooo sooo important.

it increases your strike or win rate.You will never get disappointed on that 1.
i use it everyday,whether i am swinging or day trading.

But the trick is figuring how to group currency pairs,which currency pairs to group together.
(The traditional/standard or common advised traditional currency pair corelation,is a jokeand doesnt work most times).
  • #557,240
  • Nov 5, 2020 9:25am Nov 5, 2020 9:25am
Quoting dimitricss
{quote} Thank you bro
You are welcome buddy.

Keep your head up,and always wait for that price action confirmation of a double top/bottom or a triple top/bottom, before taking any over bought or oversold stochastics trade.
best regards.
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