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Cable Update (GBPUSD)

  • #576,001
  • Feb 3, 2021 10:02am Feb 3, 2021 10:02am
Quoting Sang.Real
GU Waiting to enter Scalping LONG again at bounce zone. Any comment and ideas are welcome for educational purposes. Thank you {image}
please allow me my perspective,

i use Higher TF (usually D1) to see the big picture is the market trending or sideways, then i down to lower TF to find the Pattern which match with Bigger TF Trend, then i down to H1 (usually) to excecute it.

regarding SL i'd rather use Planned SL (usually on S/R) +2x ATR

TP, usually i use open TP, but i secure my Profit with SL

Just my 2 Cent
Suro Diro Joyoningrat Lebur Dening Pangastuti
  • #576,002
  • Feb 3, 2021 10:03am Feb 3, 2021 10:03am
Quoting Sang.Real
GU Waiting to enter Scalping LONG again at bounce zone. Any comment and ideas are welcome for educational purposes. Thank you {image}
H1 candle close with Bearish Engulfing, while trend is down, so i'll kept my Short
Suro Diro Joyoningrat Lebur Dening Pangastuti
  • #576,003
  • Feb 3, 2021 10:05am Feb 3, 2021 10:05am
Quoting MozzChops
{quote} The market will do what it wants to. Anyone here who says they *know* is not being truthful. It has about a 50% chance of going up, and a 50% chance of going down.
MozzChops, ...unless you find something that gives you an edge like Dow theory and you tilt probability to 51% to your advantage.
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Always trade your own plan...I don't provide trading signals.
  • #576,004
  • Feb 3, 2021 10:06am Feb 3, 2021 10:06am
Attached Image (click to enlarge)
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yes yes yes
  • #576,005
  • Feb 3, 2021 10:06am Feb 3, 2021 10:06am
Its forming W shape in h1 , it may reach 1.37100
  • #576,006
  • Feb 3, 2021 10:08am Feb 3, 2021 10:08am
Quoting cymru1
{quote} I really appreciate that -- I will read this every day! Could you potentially advise what you consider the market to do now? I'm trying to figure out when to close this trade now and at what loss.
Mozz, already answered, i couldn't say it better.
i do M5/M15, so my bias changes like 3 or 4 times a day. (sometimes more)
Every bar tells a story and the very next contradicts.
at this moment i'm out. Why? Cause i don't know where market is going, until VPA gives me a sign and S/R complies...i'm waiting.
Stay cool.
If you don't know how to earn money, don't loose it.
  • #576,007
  • Feb 3, 2021 10:10am Feb 3, 2021 10:10am
Quoting Coreg2004
{quote} MozzChops, ...unless you find something that gives you an edge like Dow theory and you tilt probability to 51% to your advantage. {image}
Yes this is true. The only thing we have control over is when to enter a trade, exit a trade, and the risk we are willing to take if we are wrong.
Even if you have 1% edge, you will still have 10 losers in a row at some point. We just don't know when those 10 will come along.

This is why money mangement is so important.
A fool and his money are easily parted
  • #576,008
  • Feb 3, 2021 10:12am Feb 3, 2021 10:12am
Any one else has same analysis on GU
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  • #576,009
  • Feb 3, 2021 10:15am Feb 3, 2021 10:15am
Quoting maheeee
Its forming W shape in h1 , it may reach 1.37100
to be honest in my perspective, that is not match with "W" or "Double Bottom" condition which is usually indicate as Trend Change.

but anyway.. anyone have their own perspective

safe trade buddy
Suro Diro Joyoningrat Lebur Dening Pangastuti
  • #576,010
  • Feb 3, 2021 10:18am Feb 3, 2021 10:18am
ATR is awful today?
what? 55/60% of daily?
If you don't know how to earn money, don't loose it.
  • #576,011
  • Feb 3, 2021 10:22am Feb 3, 2021 10:22am
Quoting Sang.Real
GU Waiting to enter Scalping LONG again at bounce zone. Any comment and ideas are welcome for educational purposes. Thank you {image}
Hi
I have gone shorted 3724 . I think we can see a bearish Evening star pattern for weekly of GBPUSD . weekly candle chart GBPUSD is forming a bearish reversal pattern (Evening Star ). but Based on experience when we see a long of spinning tops or a high wave or even a long legged doji We have to wait for a correction or pullback . bear camp of GBPUSD is Drawing a bull trap or gathering force fro a free fall.
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  • #576,012
  • Feb 3, 2021 10:32am Feb 3, 2021 10:32am
Quoting hussin naiji
{quote} Hi I have gone shorted 3724 . I think we can see a bearish Evening star pattern for weekly of GBPUSD . weekly candle chart GBPUSD is forming a bearish reversal pattern (Evening Star ). but Based on experience when we see a long of spinning tops or a high wave or even a long legged doji We have to wait for a correction or pullback . bear camp of GBPUSD is Drawing a bull trap or gathering force fro a free fall. {image}
So a rise before a lead balloon drop?
Insane in the Brain..
  • #576,013
  • Feb 3, 2021 10:34am Feb 3, 2021 10:34am
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yes yes yes
  • #576,014
  • Feb 3, 2021 10:36am Feb 3, 2021 10:36am
Expecting big fall by tomorrow, lots of news on GU tomorrow.
  • #576,015
  • Feb 3, 2021 10:43am Feb 3, 2021 10:43am
There is ugly reversed H&S to 15m and 30m.....
  • #576,016
  • Edited 11:03am Feb 3, 2021 10:47am | Edited 11:03am
changed tp to 1.36233
little pig eat more
big pig get eaten
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update : break up
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yes yes yes
  • #576,017
  • Feb 3, 2021 10:51am Feb 3, 2021 10:51am
Quoting maheeee
Its forming W shape in h1 , it may reach 1.37100
yes i thik also it cant drop from here.but im out no long no short around 1.36- 135800 will be clear.maybe we have slow trend down step by step.
  • #576,018
  • Feb 3, 2021 11:04am Feb 3, 2021 11:04am
Quoting Olabanji-Tex
{quote} Hello Parshal, I am just taking about the market in general. I am talking about the levels to watch out for this week and maybe next week.
But exactly the time you posted your hypothesis, there were positive Fundamentals released in favour of USD and the price went against it.
I couldn't relate your general statement with the timing and then the outcome.
My observation may be wrong but intent correct. Stay calm!
  • #576,019
  • Feb 3, 2021 11:06am Feb 3, 2021 11:06am
Quoting Moty
changed tp to 1.36233 little pig eat more big pig get eaten{image} update : break up{image}
Haha Moty, I'm still here hoping this to unfold just as your screen predicts
  • #576,020
  • Feb 3, 2021 12:10pm Feb 3, 2021 12:10pm
it 's time
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yes yes yes
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