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Cable Update (GBPUSD)

  • #570,781
  • Jan 7, 2021 7:49am Jan 7, 2021 7:49am
Quoting Wavegarrick
{quote} Hi KK, A very good question and probably the most difficult one to answer. I enter on the other side of the trade iow I open sell trades against buy trades, but only if they are winners. It is basically freezing my trades. For example, if I have 7 buy trades I will systematically open say 10 sell trades, and ride the correction down. If I have a swing back in the direction of my buy trades I open buy trades and close some of my sell trades. It seems crazy, but here's the crucial thing for me. What seems confusing today becomes crystal clear...
Thank you for your explanation. i understand now. It is simply a best way to keep the winner running but also requires hell of trade management technique which i am sure you are best at. I ll be looking forward to learn more about it from you.

Cheers
  • #570,782
  • Jan 7, 2021 7:51am Jan 7, 2021 7:51am
Go go go goldi
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yes yes yes
  • #570,783
  • Jan 7, 2021 7:58am Jan 7, 2021 7:58am
Did not expect that...
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Maadik Hugiis. IQ 69.
  • #570,784
  • Jan 7, 2021 8:01am Jan 7, 2021 8:01am
I am looking to buy cable based on m/s but its way too early and it will also depend on how the structure starts to build back up and break certain levels with other confirming factors, so its not a certainty at the moment that it will go up.
Follow The Markets Structure - Patience and Discipline
  • #570,785
  • Jan 7, 2021 8:15am Jan 7, 2021 8:15am
On another subject unrelated to cable , using m/s we traded the cycle change on bitcoin from corrective to impulsive within an impulse from 31150 up to its level 38000 and closed as its looking like the last leg up for that particular cycle.

I will post the screen shots for that once i get the market structure thread started
Follow The Markets Structure - Patience and Discipline
  • #570,786
  • Jan 7, 2021 8:25am Jan 7, 2021 8:25am
Quoting pipfarm
I am looking to buy cable based on m/s but its way too early and it will also depend on how the structure starts to build back up and break certain levels with other confirming factors, so its not a certainty at the moment that it will go up.
Theres actually more chance of breaking up than down IMO.. The setup for it is there on H1.. Bottom and top vetted already.. Just one spike, and it kicks off..

I mean, if we wanted to crash or begin correction on the daily, it would have started a while ago..

Only a matter of time before we see flames anyway
I hope you get your confirmation along the way

SS
  • #570,787
  • Jan 7, 2021 8:48am Jan 7, 2021 8:48am
Quoting JayBag
{quote} Theres actually more chance of breaking up than down IMO.. The setup for it is there on H1.. Bottom and top vetted already.. Just one spike, and it kicks off.. I mean, if we wanted to crash or begin correction on the daily, it would have started a while ago.. Only a matter of time before we see flames anyway I hope you get your confirmation along the way SS
You got Spikes number??
Insane in the Brain..
  • #570,788
  • Jan 7, 2021 8:54am Jan 7, 2021 8:54am
Quoting pipfarm
Here is the link again to the video i posted about market structure https://www.forexfactory.com/thread/...3#post13346093
Thanks a million Pipfarm for sharing - truly very helpful and educative!
  • #570,789
  • Jan 7, 2021 9:00am Jan 7, 2021 9:00am
Quoting JayBag
{quote} Theres actually more chance of breaking up than down IMO.. The setup for it is there on H1.. Bottom and top vetted already.. Just one spike, and it kicks off.. I mean, if we wanted to crash or begin correction on the daily, it would have started a while ago.. Only a matter of time before we see flames anyway I hope you get your confirmation along the way SS

I am not saying there is going to be a crash, a correction is not a crash,,,the daily has been cycling through minor corrections within the larger swing which is an impulse wave, since October 2020 and at this moment it looks like another minor correction before any resumption of the daily minor trend.


I would not put my money on spike just yet
Follow The Markets Structure - Patience and Discipline
  • #570,790
  • Jan 7, 2021 9:09am Jan 7, 2021 9:09am
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yes yes yes
  • #570,791
  • Jan 7, 2021 9:10am Jan 7, 2021 9:10am
Quoting BeeTogether
{quote} You got Spikes number??
I have him on speed dial.. He’s not taking he’s calls ATM.. I am sure he’ll call back when he sees my missed calls

SS
  • #570,792
  • Jan 7, 2021 9:10am Jan 7, 2021 9:10am
Going to explode up i think after a bit going south max 15 pips.. finger crossed...
  • #570,793
  • Jan 7, 2021 9:14am Jan 7, 2021 9:14am
Quoting pipfarm
{quote} I am not saying there is going to be a crash, a correction is not a crash,,,the daily has been cycling through minor corrections within the larger swing which is an impulse wave, since October 2020 and at this moment it looks like another minor correction before any resumption of the daily minor trend. I would not put my money on spike just yet
Fair enough... I did mention ‘correction’ .. Regardless of the term used, I honestly don’t think it’s time for it yet..

SS
  • #570,794
  • Jan 7, 2021 9:20am Jan 7, 2021 9:20am
Quoting JayBag
{quote} Fair enough... I did mention ‘correction’ .. Regardless of the term used, I honestly don’t think it’s time for it yet.. SS

So your saying current move down is not a daily minor correction?
Follow The Markets Structure - Patience and Discipline
  • #570,795
  • Jan 7, 2021 9:20am Jan 7, 2021 9:20am
I’m thinking of putting some orders in
long side
  • #570,796
  • Jan 7, 2021 9:24am Jan 7, 2021 9:24am
Quoting HBN08
Hey all shorted here good trades all {image}
closed
  • #570,797
  • Jan 7, 2021 9:29am Jan 7, 2021 9:29am
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Maadik Hugiis. IQ 69.
  • #570,798
  • Jan 7, 2021 9:32am Jan 7, 2021 9:32am
Quoting pipfarm
{quote} So your saying current move down is not a daily minor correction?
Uhm, Id consider a correction if it breaks 1.35415. To me, this is no move down

SS
  • #570,799
  • Jan 7, 2021 9:34am Jan 7, 2021 9:34am
Quoting joesherwood
I’m thinking of putting some orders in long side
Could be the best yet
  • #570,800
  • Jan 7, 2021 9:37am Jan 7, 2021 9:37am
Quoting JayBag
{quote} Uhm, Id consider a correction if it breaks 1.35415. To me, this is no move down SS

No need to consider it , 4H lower high, lower low swings maketh the daily minor correction , its now a question of how far it will travel before resuming the upward trajectory and if it will resume the upward trajectory at all, hence i wait for confirmation to signal the end which can only come from the signal of the beginning.

I can see your point though from H1 view as you may be considering the move up from the low as the beginning and the current move down as the correction , its possible.
Follow The Markets Structure - Patience and Discipline
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