Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#594,781
May 13, 2021 7:56am May 13, 2021 7:56am

Sang.Real
| Additional Username | Joined Mar 2020 | 1,607 Posts

Quoting navk

Disliked

{quote} this is not correct IMO. The 4hr support level is broken, it may continue to fall or elese in can form next hourly high to go low because 4hr support is broken. This is how, I consider. The reversal, I look for daily, 4hr and hourly high + reversal hourly signal.

Ignored

YES, I agree with you.

It was turned out to be bad trade after all.

Made an error for not looking at Higher Time Frame (HTF) structure before making comments to Moty.

I will be more careful next time in giving views to others.

My apology as Newbie to learn more from all of you here.

Thanks again Navk.

#594,782
May 13, 2021 8:00am May 13, 2021 8:00am

navk
Joined Oct 2010 | Status: Trader | 21,478 Posts

Quoting Sang.Real

Disliked

{quote} YES, I agree with you. It was turned out to be bad trade after all. Made an error for not looking at Higher Time Frame (HTF) structure before making comments to Moty. I will be more careful next time in giving views to others. My apology as Newbie to learn more from all of you here. Thanks again Navk.

Ignored

still, hourly support/resistance is worth 1 : 1 risk/reward.

If 4hr support and 1 hr support/resistance is held then, one can look for 1 : 2.5 risk reward.

If daily, 4hr + 1 hr support or resistance is held then big risk / reward.

Intraday only.

#594,783
May 13, 2021 8:05am May 13, 2021 8:05am

navk
Joined Oct 2010 | Status: Trader | 21,478 Posts

Quoting Sang.Real

Disliked

{quote} YES, I agree with you. It was turned out to be bad trade after all. Made an error for not looking at Higher Time Frame (HTF) structure before making comments to Moty. I will be more careful next time in giving views to others. My apology as Newbie to learn more from all of you here. Thanks again Navk.

Ignored

and of late I noticed, the 4hr support formed in asia is not worth considering.

However, Londo, NY session is worth considering.

Intraday only.

#594,784
May 13, 2021 8:06am May 13, 2021 8:06am

Ziemowit
Joined Sep 2020 | Status: Trader | 400 Posts

Quoting navk

Disliked

{quote} still, hourly support/resistance is worth 1 : 1 risk/reward. If 4hr support and 1 hr support/resistance is held then, one can look for 1 : 2.5 risk reward. If daily, 4hr + 1 hr support or resistance is held then big risk / reward.

Ignored

can u please explain me how u calculated 1:2.5 risk reward in this case?

#594,785
May 13, 2021 8:12am May 13, 2021 8:12am

MTF Test
Joined May 2008 | Status: I Loose, I Win, I Conquer | 1,834 Posts

I recon a further drop towards 1.40 and below before an impulse if there is any. We will have a clear direction after the completion of 4H candle IMO.

Cheers !

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Fools Rushing

#594,786
May 13, 2021 8:13am May 13, 2021 8:13am

navk
Joined Oct 2010 | Status: Trader | 21,478 Posts

Quoting Ziemowit

Disliked

{quote} can u please explain me how u calculated 1:2.5 risk reward in this case?

Ignored

no calculation.

But my experience.

The stand alone 4hr + 1 hr support and resistance happened in London/Ny SEssions worth 2.5 to 2 time risk.

Intraday only.

#594,787
May 13, 2021 8:14am May 13, 2021 8:14am

Amanex
| Joined Apr 2021 | Status: Trader | 2 Posts

I am a newbie selling GU

#594,788
May 13, 2021 8:21am May 13, 2021 8:21am

Pipa1
Joined May 2021 | Status: Trader | 424 Posts

Market situation in the last 8 hours.EUR clearly dominant ...GBP heavily dominated. MY EURGBP is the new KING. +0.30%

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