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Cable Update (GBPUSD)

  • #579,581
  • Edited 12:34am Feb 22, 2021 12:14am | Edited 12:34am
Long in at 1.4001 and 04 target 10 pips ish

Out - 20 pips
Don't trade what you think. Just what you see!!!
  • #579,582
  • Feb 22, 2021 12:18am Feb 22, 2021 12:18am
Quoting Headland
{quote} ..I'm surprised you didn't have the area above that yellow zone you have marked, ie the one @ the current pullback lo - it was an obvious zone - see my 1hr chart posted above.....re targets....all you can do is mark the potential supp/res zones and see what PA does at them.

Thanks Headland

Still learning and will look into that

  • #579,583
  • Feb 22, 2021 12:23am Feb 22, 2021 12:23am
Quoting TaoTrader
{quote} I agree you have to find a method you like. When I came to this site in 2009 it seemed like most were days traders and scalpers. Now in 2021 it seems like most here are still day traders and scalpers. I don't see a problem with that at all. Occasionally I will scalp, but just to amuse myself LOL. Trend trading is best if you want large returns and consistent profits without staring at your screen all day. It also takes less effort than scalping. I don't think scalping really requires a strategy or method, and maybe that's why a lot of people...
I can't agree more with this post... Very well said.
Data + Stat + Risk/Emotions Management
  • #579,584
  • Feb 22, 2021 12:28am Feb 22, 2021 12:28am
Quoting TaoTrader
{quote} I agree you have to find a method you like. When I came to this site in 2009 it seemed like most were days traders and scalpers. Now in 2021 it seems like most here are still day traders and scalpers. I don't see a problem with that at all. Occasionally I will scalp, but just to amuse myself LOL. Trend trading is best if you want large returns and consistent profits without staring at your screen all day. It also takes less effort than scalping. I don't think scalping really requires a strategy or method, and maybe that's why a lot of people...
I agree! I find swing trading is the easiest by far and have a system that returns more and so much simpler than scalping. The problem I have is forex flash crashes! Now the next way is what a lot of people on here do. Which I find impossible to do! Best analogy is in a fight you are better to be in real close or way back. In between you get knocked out. That why I scalp in and out! This mid range..... I'm sure a lot of people are getting sparked out!
Don't trade what you think. Just what you see!!!
  • #579,585
  • Feb 22, 2021 12:31am Feb 22, 2021 12:31am
Quoting Georginson
{quote} I can't agree more with this post... Very well said.
Just trying to help out with a simple exchange of ideas :-)
  • #579,586
  • Feb 22, 2021 12:32am Feb 22, 2021 12:32am
Quoting Sang.Real
{quote} GU Target for bounce ? Any comment welcome for educational purposes. Thank You {image}
nice catch
what's your thoughts about target 2 bellow
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  • #579,587
  • Feb 22, 2021 12:33am Feb 22, 2021 12:33am
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yes yes yes
  • #579,588
  • Feb 22, 2021 12:34am Feb 22, 2021 12:34am
Quoting Theoak
{quote} I agree! I find swing trading is the easiest by far and have a system that returns more and so much simpler than scalping. The problem I have is forex flash crashes! Now the next way is what a lot of people on here do. Which I find impossible to do! Best analogy is in a fight you are better to be in real close or way back. In between you get knocked out. That why I scalp in and out! This mid range..... I'm sure a lot of people are getting sparked out!
Yeah I would hate it if I were trying to place a trade and then a flash crash happened. I don't know if those happen sometimes on purpose due to brokers trying to stop out scalpers, but I think it's very possible. I know brokers make a ton of money on manipulating prices and crashing or stopping orders during news and just whenever they feel like it . This only seems to effect short term traders though.
  • #579,589
  • Feb 22, 2021 12:36am Feb 22, 2021 12:36am
Quoting TaoTrader
{quote} Yeah I would hate it if I were trying to place a trade and then a flash crash happened. I don't know if those happen sometimes on purpose due to brokers trying to stop out scalpers, but I think it's very possible. I know brokers make a ton of money on manipulating prices and crashing or stopping orders during news and just whenever they feel like it . This only seems to effect short term traders though.
Mate - your stops won't save you on these flash crashes
Don't trade what you think. Just what you see!!!
  • #579,590
  • Feb 22, 2021 12:39am Feb 22, 2021 12:39am
steady right now
because all sell last week were closed
  • #579,591
  • Feb 22, 2021 12:40am Feb 22, 2021 12:40am
Quoting Theoak
{quote} Mate - your stops won't save you on these flash crashes
Oh I know I don't usually use stops. I read about flash crashes before it seems scary.
  • #579,592
  • Feb 22, 2021 12:40am Feb 22, 2021 12:40am
H4 and daily is for down.I tried to short GU during two days.H1 is not for down.I dont advice you short GU.Where it goes i dont know.I decided to go to eur for several days.
  • #579,593
  • Feb 22, 2021 12:42am Feb 22, 2021 12:42am
Quoting mysterio
{quote} I think we can drop down to the 1h demand at 3922/31 but decided to take profit at 85... 65 pips/6.5xR Plenty room to run in DXY to 90.65 at least 1810 gold short?
Will wait for confirmation but planning long down at 3922/31 once we have broken through this level

DXY on a tear but not sure it will last long
  • #579,594
  • Feb 22, 2021 12:46am Feb 22, 2021 12:46am
Too many bad trades for me today. I'm done.

What I always find is you get a run of bad luck.

When this happens quit or else pay the price of chasing bad money!!!!
Don't trade what you think. Just what you see!!!
  • #579,595
  • Feb 22, 2021 12:52am Feb 22, 2021 12:52am
Quoting Theoak
Long in at 1.4001 and 04 target 10 pips ish Out - 20 pips

And there in lies the problem with scalping. I've been trying for 2 or 3 pips. Then had one get away from me for 20. Stung bad, gave like three days back.
Get the Lag out
  • #579,596
  • Feb 22, 2021 12:52am Feb 22, 2021 12:52am
Just reminded myself that GBPUSD reached 1.4...
I remember OnlineAddict being harassed by Not-KPMG who was posting offensive stuff...
It is so quiet now, I wonder where are Not-KPMG's apologies for his behaviour?
WT
  • #579,597
  • Feb 22, 2021 12:56am Feb 22, 2021 12:56am
...the current dly lo is equal to the 3rd last HL on 1hr, price having sold past the last and 2nd last HL of it's uptrend......likely a fractal L will develop there as the 1st rise from it encountered supply at the prev 1hr/4hr sw lo zone = prev supp = pot sbr with the 1hr desc t/line. (5min bearish hidden div there)

1hr below.
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Trader with an Edge.
  • #579,598
  • Feb 22, 2021 12:58am Feb 22, 2021 12:58am
@headland thanks for the heads up, I really like your charts n stystem
Think longterm not shortterm
  • #579,599
  • Feb 22, 2021 12:58am Feb 22, 2021 12:58am
Quoting mysterio
{quote} Will wait for confirmation but planning long down at 3922/31 once we have broken through this level DXY on a tear but not sure it will last long
Yes right observation.
But Iam seeing that Cable still going up despite DXY went up from 90.45 to 90.51, however cable went as low as 1.3980 when DXY was 90.47
My observation may be wrong but intent correct. Stay calm!
  • #579,600
  • Feb 22, 2021 12:59am Feb 22, 2021 12:59am
Quoting Bartosz77
Just reminded myself that GBPUSD reached 1.4... I remember OnlineAddict being harassed by Not-KPMG who was posting offensive stuff... It is so quiet now, I wonder where are Not-KPMG's apologies for his behaviour?
Oh, he'll be showing up anytime soon since the prices are beginning to drop......
Lost....
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