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Cable Update (GBPUSD)

  • #593,441
  • May 7, 2021 4:56am May 7, 2021 4:56am
Quick post from me NFP day

Could be a big up day today,

Here is why

Prior daily larger degree swing was corrective as it is moving against the weekly larger degree wave and has subdivided a b c

Current daily larger degree wave is moving with the weekly larger degree wave , indicating aN impulsive continuation swing

Current daily minor swing one is up then 2 abc so we could see swing 3 up at NFP

Attached Image (click to enlarge)
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As always trade your own plan, this post is for educational purpose only
Follow The Markets Structure - Patience and Discipline
  • #593,442
  • May 7, 2021 4:57am May 7, 2021 4:57am
Still high probability for bulls to win this

Clear uptrend
Note: Am a rookie
Attached Image (click to enlarge)
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  • #593,443
  • May 7, 2021 5:00am May 7, 2021 5:00am
Quoting Nd10
{quote} I mean oversabi in a good way oo baba. BE keeps messing with me
Ah, bro I get you from the jump. We no dey assume anything. The context tells it all. I know say no be bad way you mean am..

But I still get coconut head to expect and hold for lower portion price
  • #593,444
  • May 7, 2021 5:04am May 7, 2021 5:04am
Quoting BeeTogether
Not sure how NFP will help dictate direction today am not going to short until I see it
Hello Bee!
How is the election going? I see the conservative won recently in one of the major areas helping the pound stronger.
My observation may be wrong but intent correct. Stay calm!
  • #593,445
  • May 7, 2021 5:04am May 7, 2021 5:04am
I don't worry about NFP , news exist only to "justify" what already happened in the last days ex.strong USDCAD drop.The market is traded outside news when ppl less expect."News" are there to f**k intraday gamblers.
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #593,446
  • May 7, 2021 5:05am May 7, 2021 5:05am
Well Girls

I Can See lot of whining in here

Its been hard. Except for Eurusd everything else is stuck in tight range

Its NFP end of week causing this rout I believe

BUT you see GBP I have my Take profits Set Up Up Up. There it goes

With one big TP at 1.40280.

And Others In Between

Ok

See You I have one veiled girl coming up you know what I mean
  • #593,447
  • May 7, 2021 5:12am May 7, 2021 5:12am
Attached Image (click to enlarge)
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bonus aussi , 24 pips to first tp , 40 to 2nd
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yes yes yes
  • #593,448
  • May 7, 2021 5:12am May 7, 2021 5:12am
Quoting Pipa1
I don't worry about NFP , news exist only to "justify" what already happened in the last days ex.strong USDCAD drop.The market is traded outside news when ppl less expect."News" are there to f**k intraday gamblers.
This is too accurate. Funny I had a similar conversation with my friend a few days back.
  • #593,449
  • May 7, 2021 5:16am May 7, 2021 5:16am
Quoting Pipa1
I don't worry about NFP , news exist only to "justify" what already happened in the last days ex.strong USDCAD drop.The market is traded outside news when ppl less expect."News" are there to f**k intraday gamblers.
Not sure what you're saying, are you saying intraday trading is gambling on cable? I think the opposite, I think it's a market you have to take one piece at a time, for my style of trading anyways. That is if you want to extract profit (almost) every day.
  • #593,450
  • May 7, 2021 5:20am May 7, 2021 5:20am
Quoting mysterio
{quote} Not sure what you're saying, are you saying intraday trading is gambling on cable? I think the opposite, I think it's a market you have to take one piece at a time, for my style of trading anyways. That is if you want to extract profit (almost) every day.
That's why i am a swing trader taking 100-200 pips on every trade...who chase for less than that is only playing at casino.Without being disrespectful to anybody is my point of view.
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #593,451
  • May 7, 2021 5:25am May 7, 2021 5:25am
short 1.3923
Trade with prediction = witch with her visions lol
  • #593,452
  • May 7, 2021 5:26am May 7, 2021 5:26am
Quoting Pipa1
{quote} That's why i am a swing trader taking 100-200 pips on every trade...who chase for less than that is only playing at casino.Without being disrespectful to anybody is my point of view.
Profoundly disagree but you are entitled to your point of view
  • #593,453
  • May 7, 2021 5:33am May 7, 2021 5:33am
Quoting Pipa1
{quote} That's why i am a swing trader taking 100-200 pips on every trade...who chase for less than that is only playing at casino.Without being disrespectful to anybody is my point of view.
Would love to agree with you but then we would both be wrong
  • #593,454
  • May 7, 2021 5:35am May 7, 2021 5:35am
Quoting mysterio
{quote} Profoundly disagree but you are entitled to your point of view
Maybe sell limit at 1.40 as your pattern ABCD, why not?
  • #593,455
  • May 7, 2021 5:37am May 7, 2021 5:37am
I follow the market don't fight the market.The market offer free risk entries from time to time.Trading is only about following who's smarter than you if you can track his footprints.Am not gunning for adrenaline but for money.
I'm The Real Deal Quant-XR ,The Financial Hacker
  • #593,456
  • May 7, 2021 5:39am May 7, 2021 5:39am
Quoting wanted
{quote} Maybe sell limit at 1.40 as your pattern ABCD, why not?
I don't do limit orders i'm very much looking at price action on 1m/5m chart to make a trading decision at predetermined levels

Harmonic patterns not really in my trading plan but I'm watching the ABCDs to see if I can add something in as they do appear quite a lot on GU, I believe it projected above 1.40. 1.40 obviously very strong supply though and you can do worse than shorting there. If we somehow got up to 1.41 this would be a good level to sell I believe.

Quoting Pipa1
{quote} That's why i am a swing trader taking 100-200 pips on every trade...who chase for less than that is only playing at casino.Without being disrespectful to anybody is my point of view.
I feel there is this view among traders that anything less than 100-200 pips is not real trading and just playing around, to me catching a 20-30 pip move with a 5-10 pip stop loss and doing this consistently is just as if not more impressive, the beauty is you can do it multiple times a day if you know what you're doing so the profit potential is greater as you have more opportunities. Then usually at least once or twice a week those 20 pip trades turn into monsters if you are there at the right place at the right time.
  • #593,457
  • May 7, 2021 5:39am May 7, 2021 5:39am
Quoting Pipa1
I follow the market don't fight the market.The market offer free risk entries from time to time.Trading is only about following who's smarter than you if you can track his footprints.Am not gunning for adrenaline but for money.
  • #593,458
  • May 7, 2021 5:43am May 7, 2021 5:43am
Quoting dimitricss
short 1.3923
Ive already short from first test of 1.39300 just put it in until nfp hahaa. No hard feeling
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #593,459
  • May 7, 2021 5:46am May 7, 2021 5:46am
Quoting parshal
{quote} Hello Bee! How is the election going? I see the conservative won recently in one of the major areas helping the pound stronger.
Yup they have taken the Hartlepool seat which has always been a labour strong hold.. mayoral results due over weekend and Scotland ones too.. my personal belief is if expected Labour win london and SNP Scotland we could see a huge gap on weekend trading with a potential drop zone for GU
Insane in the Brain..
  • #593,460
  • May 7, 2021 5:46am May 7, 2021 5:46am
Quoting Pipa1
I follow the market don't fight the market.The market offer free risk entries from time to time.Trading is only about following who's smarter than you if you can track his footprints.Am not gunning for adrenaline but for money.
Nicely put fellow trader !

Your ideas on intraday are strange to me though. As I position trade, swing trade.... to scalp, and they all have had their advantages for me throughout the years...

To each his own, right? Cheers mate !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
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