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Cable Update (GBPUSD)

  • #570,381
  • Jan 5, 2021 10:06pm Jan 5, 2021 10:06pm
Quoting Kaysole
{quote} {image}

Nothing is by accident ..
  • #570,382
  • Edited 11:05pm Jan 5, 2021 10:19pm | Edited 11:05pm
G/M, early start for me - national lockdown - body clock all over the place - 04.20am ish where I am!

1hr is below.....1hr inverted hammer close at the prev 1hr sw hi zone=prev res=pot (potential) rbs/wkly pivot

Yesterday's daily candle was bullish and inside the hi-lo pip range of the previous day, so created a new HL on the daily at that 3541 lo.
Attached Image (click to enlarge)
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Trader with an Edge.
  • #570,383
  • Jan 5, 2021 10:38pm Jan 5, 2021 10:38pm
Quoting Headland
G/M, early start for me - national lockdown - body clock all over the place - 04.20am ish where I am! 1hr is below.....1hr inverted hammer close at the prev 1hr sw hi zone=prev res=pot (potential) rbs/wkly pivot Yesterday's daily candle was bullish and inside the pip hi-lo range of the previous day, so created a new HL on the daily at that 3541 lo. {image}
Good morning Headland, I really appreciate the time and effort you put into your posts.

Do you have a bias for the time being?
  • #570,384
  • Jan 5, 2021 10:45pm Jan 5, 2021 10:45pm
Quoting Kaysole
{quote} Good morning Headland, I really appreciate the time and effort you put into your posts. Do you have a bias for the time being?
G/M, and thank you for your comment. I try not to have a bias at any time as I, like everyone else, has no clue what will happen re future price discovery. I just note the PA conditions on the t/f's of interest to me, ie ranging or trending as price discovery takes place, and mark the potential supp/res/supp becomes res/res becomes supp areas as it takes place, then wait for a set-up to either get with trend after a pullback (hidden div based) or against it (regular div/extreme reads) and trade accordingly. - both confirmed by PA on the t/f I want to enter on, (or not,) and then successively higher t/f's (or not) as the trade plays out - or doesn't.

If you look at 1hr right now it is essentially in a general fractal uptrend at the moment as are the t/f's higher than 1hr, ie 4hr, dly, and wkly.
Trader with an Edge.
  • #570,385
  • Jan 5, 2021 10:55pm Jan 5, 2021 10:55pm
Quoting Moty
{image}
Change the for to MA 100 and let's trade tendence.
Together we can be strongest
Vantage Return This Month: na
  • #570,386
  • Jan 5, 2021 10:56pm Jan 5, 2021 10:56pm
Quoting Headland
{quote} G/M, and thank you for your comment. I try not to have a bias at any time as I, like everyone else, has no clue what will happen re future price discovery. I just note the PA conditions on the t/f's of interest to me, ie ranging or trending as price discovery takes place, and mark the potential supp/res/supp becomes res/res becomes supp areas as it takes place, then wait for a set-up to either get with trend after a pullback (hidden div based) or against it (regular div/extreme reads) and trade accordingly. - both confirmed by PA...
I understand. That's one of the many weaknesses I have; being strongly biased and marrying the position.
I've realized you also take market sentiment into account as well. You seem to be very much in sync with the market. Again, I appreciate your posts.
  • #570,387
  • Jan 5, 2021 11:03pm Jan 5, 2021 11:03pm
Quoting Kaysole
{quote} I understand. That's one of the many weaknesses I have; being strongly biased and marrying it. I've realized you also take market sentiment into account as well. You seem to be very much in sync with the market. Again, I appreciate your posts.
I think you 'hit the nail on the head' there - as it were. Don't try and predict, the market doesn't care what we think - and it is always right. The analogy of the Pro surfer is a good one. The market is the ocean - it is big and powerful and can be dangerous, but it doesn't even know we exist. It means us no harm but we must only enter it when the odds of a successful outcome are on our side. So we sit and wait, and wait, and wait, all the time noticing what it is doing, and then when the 'perfect wave' comes along and only then, do we go in. We don't fight it, it's not a battle between us and it, we have to get 'in tune' with it.
Trader with an Edge.
  • #570,388
  • Jan 5, 2021 11:09pm Jan 5, 2021 11:09pm
Quoting Headland
{quote} I think you 'hit the nail on the head' there - as it were. Don't try and predict, the market doesn't care what we think - and it is always right. The analogy of the Pro surfer is a good one. The market is the ocean - it is big and powerful and can be dangerous, but it doesn't even know we exist. It means us no harm but we must only enter it when the odds of a successful outcome are on our side. So we sit and wait, and wait, and wait, all the time noticing what it is doing, and then when the 'perfect wave' comes along and only then, do we...
Some people may argue with the fact that the banks and hedge funds (smart money) are after us, but I tend to side with your view. Perfect analogy in my opinion.
  • #570,389
  • Jan 5, 2021 11:17pm Jan 5, 2021 11:17pm
Quoting Kaysole
{quote} Some people may argue with the fact that the banks and hedge funds (smart money) are after us, but I tend to side with your view. Perfect analogy in my opinion.

I worked the fx desk at an investment bank, and then as a global macro trader at a hedge fund [across all asset classes but most of my trades based on fundie themes were expressed in fx and equities,] for a combined 17 years and I promise you they are not. Retail traders were never on our or our counter parties radar - they are insignificant to the market as a whole. Good Luck with you trading.
Trader with an Edge.
  • #570,390
  • Jan 5, 2021 11:20pm Jan 5, 2021 11:20pm
Quoting Headland
{quote} I worked the fx desk at an investment bank, and then as a global macro trader at a hedge fund [across all asset classes but most of my trades based on fundie themes were expressed in fx and equities,] for a combined 17 years and I promise you they are not. Retail traders were never on our or our counter parties radar - they are insignificant to the market as a whole. Good Luck with you trading.
Thank you for sharing your experience.

You too.
  • #570,391
  • Jan 5, 2021 11:31pm Jan 5, 2021 11:31pm
Quoting Headland
{quote} I worked the fx desk at an investment bank, and then as a global macro trader at a hedge fund [across all asset classes but most of my trades based on fundie themes were expressed in fx and equities,] for a combined 17 years and I promise you they are not. Retail traders were never on our or our counter parties radar - they are insignificant to the market as a whole. Good Luck with you trading.
I agree..
Retail don’t count.

I mean, retail only got acess to market just yesterday and thanks to brokers. It would be crazy for us to think we count.
  • #570,392
  • Jan 6, 2021 12:04am Jan 6, 2021 12:04am
Good morning friends. The market played out as planned yesterday. I will be looking for short today. 1.345x- 1.351x.
So short for me today. IMO
  • #570,393
  • Jan 6, 2021 12:07am Jan 6, 2021 12:07am
Quoting Sang.Real
GU tomoro set up i wait for the price to come to me. {image}

GU

to day set up.

Using SNR.

10 hours ago - the marked set up chart.

Price return to the level.

Waiting for retest.

SL in place

good luck.

Sang Real
Attached Image (click to enlarge)
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  • #570,394
  • Jan 6, 2021 12:17am Jan 6, 2021 12:17am
failed to break pivot, long trade opened
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  • #570,395
  • Jan 6, 2021 12:18am Jan 6, 2021 12:18am
Quoting KiwiTrada
{quote} geppy is same 140 000 bears holding for now bull attacking? cable seems capped 1 3700 geppy 141 000 must stress these are all tough levels have been for a long time, asia pacific will struggle for momentum, may need london open, however pretty cheap entries available with cheap sl,s :-)
geppy 140 still in play, I am short but if 140 goes I will take the hit, is cheap sl, however she will make a decision shortly??
If you are new to Forex? Say Goodbye to your account!!
  • #570,396
  • Jan 6, 2021 12:20am Jan 6, 2021 12:20am
Quoting Headland
{quote} I worked the fx desk at an investment bank, and then as a global macro trader at a hedge fund [across all asset classes but most of my trades based on fundie themes were expressed in fx and equities,] for a combined 17 years and I promise you they are not. Retail traders were never on our or our counter parties radar - they are insignificant to the market as a whole. Good Luck with you trading.
i work in the banking industry for 15 years now and I totally agree that nor banks/brokers nor HF care about retail positions and SL, all these firms care is to hedge their positions against USD, or trade on prop books with their own strategies and limits

I can’t get rid of the idea that retail cash still matters for someone’s own pocket?) maybe it’s a next tier up? A market maker can easily guide the price through options for eg, if retails makes money - than someone else has to loose, and as we know 70-85% loose... it has to be beneficial to someone, and most importantly I’m sure it’s someone’s job to make sure more % fail, not to distort the market and not make people wealthier
  • #570,397
  • Jan 6, 2021 12:24am Jan 6, 2021 12:24am
Quoting JayBag
{quote} Welcome Detector BTW, it's not my thread but 'OURS' I plan on launching a special thread come JAN 1st tho.. Please share with us here your knowledge and I am very sure many will find it valuable. SS

Hi JayBag.

With your new thread, do you invite/ allow NewXX , like me to join ?

Looking forward to it and hope to improve my trading experience with other assistant.

Sincerely

Sang Real
  • #570,398
  • Jan 6, 2021 12:24am Jan 6, 2021 12:24am
Attached Image (click to enlarge)
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we need a break of 1.36411 for confirmation
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yes yes yes
  • #570,399
  • Jan 6, 2021 12:27am Jan 6, 2021 12:27am
Quoting Headland
{quote} I worked the fx desk at an investment bank, and then as a global macro trader at a hedge fund [across all asset classes but most of my trades based on fundie themes were expressed in fx and equities,] for a combined 17 years and I promise you they are not. Retail traders were never on our or our counter parties radar - they are insignificant to the market as a whole. Good Luck with you trading.
over $5 trillion traded daily, retail equals flea on an elephants bum, however it is enough for sharks to still hunt, a very old saying "look after the pennies and the pounds will look after themselves"!!!
If you are new to Forex? Say Goodbye to your account!!
  • #570,400
  • Jan 6, 2021 12:30am Jan 6, 2021 12:30am
Quoting Sang.Real
{quote} Hi JayBag. With your new thread, do you invite/ allow NewXX , like me to join ? Looking forward to it and hope to improve my trading experience with other assistant. Sincerely Sang Real
Hi Sang,

Compliment of the season.
I actually had a second thought. Considering the idea of the thread, I have decided to hold on it simply because it would end up being a space where people come to get free launch and this will completely be against the reason for the thread.

It was going to be a place where ONLY traders with LIVE TE would be allowed to post/contribute. The idea was to try and gather real traders away from the 'wanna be' and trolls all together.. I am still thinking of a way not to make it a SIGNAL spot.

You already have your TE displayed and that would automatically get you in.
Please stick around, I will find a way around it.

StaySafe
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