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Cable Update (GBPUSD)

  • #566,501
  • Dec 17, 2020 12:19pm Dec 17, 2020 12:19pm
Quoting knkie
{quote} i dont understand why traders fight strong momentum and try to call a top. but thats just me. on another note: Macron has the 'rona' so he wont be able to fight Boris as much so thats good for the pound. or its just momentum lol
It’s crazy but we do it anyway.. Maybe traders believe it’s cheaper but it’s too difficult to accurately call a top or bottom..

I like to use myself as an example.. Bias is the biggest problem. Once we have a bias, we pay less attention to momentum or anything else..

its all crazy but we learn from every wrong move
  • #566,502
  • Dec 17, 2020 12:22pm Dec 17, 2020 12:22pm
Quoting JayBag
{quote} Until they appear 'RIGHT' I know this because I have been there before. It's very expensive I can confirm

About now shorters will say they were right but as i said price made a new high after the correction the trade was successful
Follow The Markets Structure - Patience and Discipline
  • #566,503
  • Dec 17, 2020 12:22pm Dec 17, 2020 12:22pm
Quoting pipfarm
Made a new high cable and geppy , if you did not take your profit , do not blame me.
We at a pick up zone.. maybe continue north from here?
  • #566,504
  • Dec 17, 2020 12:23pm Dec 17, 2020 12:23pm
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yes yes yes
  • #566,505
  • Dec 17, 2020 12:24pm Dec 17, 2020 12:24pm
Quoting pipfarm
{quote} About now shorters will say they were right but as i said price made a new high after the correction the trade was successful
They should wait till next week for a chance to be right me think..
  • #566,506
  • Dec 17, 2020 12:27pm Dec 17, 2020 12:27pm
Quoting JayBag
{quote} We at a pick up zone.. maybe continue north from here?

Very possible but hard to say for sure which is where trade management comes in , as you know not all swings will be massive hence i normally do not bother trading at this low level in the fractal structure, just wanted to show Sang and others what is possible and how to achieve high probability trades.
Follow The Markets Structure - Patience and Discipline
  • #566,507
  • Dec 17, 2020 12:30pm Dec 17, 2020 12:30pm
Quoting JayBag
{quote} They should wait till next week for a chance to be right me think..

For sure they should wait, but you know the drill by now , price moves down a touch from its long fractal structure and all hail the bear here comes the 1000 pip drop

I only see one swing within this moves fractal structure so will hold the rest of my position , see what happens
Follow The Markets Structure - Patience and Discipline
  • #566,508
  • Dec 17, 2020 12:33pm Dec 17, 2020 12:33pm
Quoting genadi
{quote} ?????? explain more
hope this explains; m15 chart. blue line is H1 support.

could be wrong though.
price never lies; the market is always right.
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in wondering about yourself, you forgot what you came here to be part of
  • #566,509
  • Dec 17, 2020 12:34pm Dec 17, 2020 12:34pm
Quoting JayBag
{quote} We at a pick up zone.. maybe continue north from here?
idk why but i still not see seller come in.. in fact i started to see bullish patern again.. on m15 it's probably make cup with handle.. so new high is open..
Trade what you see, not what you think.. react and stay sharp..
  • #566,510
  • Dec 17, 2020 12:35pm Dec 17, 2020 12:35pm
Quoting JayBag
{quote} Hi M, You said something very profound and I have to agree. There are indeed many ways to skin a cat. However, I still don't think solely depending on FA will do the trick at all. But you clearly stated that you approach the market using FA and TA works for you. For me, I always ended up having conflicting signals/ideas.. I only saw breakthrough spending more time on TA then progressing to advance TA and I have never looked back till date. I will always like to think that FA is nothing but FUEL. From my limited experience, I have seen many...
That has happened to me more times than I can count. I make the most money when I'm trading solely TA, not giving a damn what the news say.
when you can accurately predict the future, you leave nothing to chance.
  • #566,511
  • Dec 17, 2020 12:48pm Dec 17, 2020 12:48pm
Quoting pipfarm
{quote} For sure they should wait, but you know the drill by now , price moves down a touch from its long fractal structure and all hail the bear here comes the 1000 pip drop I only see one swing within this moves fractal structure so will hold the rest of my position , see what happens
I guess that pick up zone had some steam.. I know but for some reason, I am yet to see some wild spike UP that would validate the bullish target I have in mind.
  • #566,512
  • Dec 17, 2020 12:48pm Dec 17, 2020 12:48pm
today candle ends as bear....
  • #566,513
  • Dec 17, 2020 12:49pm Dec 17, 2020 12:49pm
Quoting miedpreneur
{quote} idk why but i still not see seller come in.. in fact i started to see bullish patern again.. on m15 it's probably make cup with handle.. so new high is open..
I agree. No sellers found for this week even..
I keep saying this but now starting to sound like a mad man to bears lol..
We should get a new high and close above the supposed RES.

Let's see
  • #566,514
  • Dec 17, 2020 12:52pm Dec 17, 2020 12:52pm
Quoting zizoo
{quote} That has happened to me more times than I can count. I make the most money when I'm trading solely TA, not giving a damn what the news say.
At last I have someone that shares my pain.
I fully understand ha.. If the calendar on FF was made for me, I would never click it lol..

With TA, one can have peace and not worry about news bla bla bla..

Cheers bud.. We are in the same whatsapp group
  • #566,515
  • Dec 17, 2020 12:56pm Dec 17, 2020 12:56pm
Quoting JayBag
{quote} I guess that pick up zone had some steam.. I know but for some reason, I am yet to see some wild spike UP that would validate the bullish target I have in mind.

Although sometimes i talk about targets , i never really pay attention to them, i have found from experience targets usually fail, so i spent my years learning to get the entry right,learning the fractal structure and managing the trade so i am prepared for the unexpected.

Price can do some crazy things, i have sat on trades for hours after the continuation and the mind starts playing tricks, take a look at the last hourly swing, 16 hours to complete ,the one before 9 hours and before that 18 hours most would not hold for that long.

Reality is, get the structure right , get the entry right , manage the trade, take some profit to cover your stop and wait ,more often than not we will get a profit,, 3 hourly up bars does not make a swing.
Follow The Markets Structure - Patience and Discipline
  • #566,516
  • Dec 17, 2020 12:57pm Dec 17, 2020 12:57pm
Quoting JayBag
{quote} I guess that pick up zone had some steam.. I know but for some reason, I am yet to see some wild spike UP that would validate the bullish target I have in mind.
i think price has taken out all the significant tops on weekly chart
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in wondering about yourself, you forgot what you came here to be part of
  • #566,517
  • Dec 17, 2020 1:06pm Dec 17, 2020 1:06pm
Quoting Lock
almost one hour and a half ago, I wrote: {quote} and here you are above 3604, trying for 3624... Now, if you'll not see acceptation above 3604 and 3608 or 3624 if reached, expect liquidation, toward 35365-3555 and eventually to 3486. If instead you'll see acceptation above 3624, something major can occur upside.
current year high is clearly not a good one at 3624 (that has been reached) as it is a GB poor high tagged by a pit session. A liquidation is always possible but I think that before or after it will be retested.
Ubi maior minor cessat
  • #566,518
  • Dec 17, 2020 1:09pm Dec 17, 2020 1:09pm
Hmmmm
Patience.....
  • #566,519
  • Dec 17, 2020 1:19pm Dec 17, 2020 1:19pm
Quoting pipfarm
{quote} Although sometimes i talk about targets , i never really pay attention to them, i have found from experience targets usually fail, so i spent my years learning to get the entry right,learning the fractal structure and managing the trade so i am prepared for the unexpected. Price can do some crazy things, i have sat on trades for hours after the continuation and the mind starts playing tricks, take a look at the last hourly swing, 16 hours to complete ,the one before 9 hours and before that 18 hours most would not hold for that long. Reality...
just yesterday i keep losing trades after i switch to short from long i accept my loss and step a side, take a good rest.. review my mistake re draw my chart on weekly.. then i am ready again..
i found my mistake is stubborn with my price target i dont take profit because my target not reach then suddenly market turn against me.. haha i learn it and now i stop being stubborn and pure follow the PA take profit when i see sign PA start to reverse.. enter when i see confirmation on market structure.. every loss and win trades make me evolve theres always something to learn with every decision i make.. thanks for remind me with your post..
Trade what you see, not what you think.. react and stay sharp..
  • #566,520
  • Dec 17, 2020 1:20pm Dec 17, 2020 1:20pm
Quoting pipfarm
{quote} Although sometimes i talk about targets , i never really pay attention to them, i have found from experience targets usually fail, so i spent my years learning to get the entry right,learning the fractal structure and managing the trade so i am prepared for the unexpected. Price can do some crazy things, i have sat on trades for hours after the continuation and the mind starts playing tricks, take a look at the last hourly swing, 16 hours to complete ,the one before 9 hours and before that 18 hours most would not hold for that long....
This is true and I do close a few orders to increase balance. Doing this helps save account and lock profit regardless of how crazy price gets... I enjoy stacking up orders in direction of trend.

Trade management is something else after figuring out entries.
FX is not easy and it pisses me off when I see how 'wanna be' traders display it like it's a walk in the park. Mostly the Instagram frauds
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