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Cable Update (GBPUSD)

  • #596,861
  • May 23, 2021 6:35pm May 23, 2021 6:35pm
Quoting babayaga
do I become suspicious (?) cable is going up (?) most indicators are showing divergence - pointing down (?) {image} charting on fxstreet
It is too early still, but yes it will go up sooner or later. Maybe indicators are generating wrong signals this time?
You have to have an IQ higher than 90 to interact with this user.
  • #596,862
  • May 23, 2021 6:44pm May 23, 2021 6:44pm
Quoting Tim_isoara
{quote} You must to connect the line with price. Not to put on air or... see the chart
I havnt seen chart you are talking about, forget tl,s it is more important to first focus on tl structure , false bo will screw tl,s & traders if not careful, chart attached self explanatory :-) please excuse artwork
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If you are new to Forex? Say Goodbye to your account!!
  • #596,863
  • May 23, 2021 6:48pm May 23, 2021 6:48pm
Quoting Nordling00
{quote} It is too early still, but yes it will go up sooner or later. Maybe indicators are generating wrong signals this time?
yes, could be the true..,
most of indy.., wrong signal

btw
there are plenty of targets..,

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dolce vita
  • #596,864
  • Edited 7:09pm May 23, 2021 6:58pm | Edited 7:09pm
Seems like a lot of people here over complicate things looking at the charts in this thread.

It's pretty simple imho.

What are the previous highs and lows on the daily chart from the previous year?

Are we breaking those points of resistance and after they're broken are they now acting as support?

Are we overbought or oversold on the daily, weekly, monthly charts?

Do the fundamentals support the trade and the trend?

Kiss imho...
"A true speculator tries the market small." - Jesse Livermore
  • #596,865
  • May 23, 2021 6:59pm May 23, 2021 6:59pm
cable really testing fridays low now, Im thinking she will take it out :-)
If you are new to Forex? Say Goodbye to your account!!
  • #596,866
  • May 23, 2021 7:03pm May 23, 2021 7:03pm
Quoting babayaga
{quote} yes, could be the true.., most of indy.., wrong signal btw there are plenty of targets.., {image}
If you don't mind me asking, how did you put these targets? I mean what they are based on?

Don't get me wrong though i am not questioning your system, i am just asking how and why since i am curious.
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  • #596,867
  • May 23, 2021 7:07pm May 23, 2021 7:07pm
new long-term setup confirmed, Buy stop .4145

Wish you all a great week ! Going back to bed.
Attached Image
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #596,868
  • May 23, 2021 7:16pm May 23, 2021 7:16pm
Quoting Jgcole83
Seems like a lot of people here over complicate things looking at the charts in this thread. It's pretty simple imho. What are the previous highs and lows on the daily chart from the previous year? Are we breaking those points of resistance and after they're broken are they now acting as support? Are we overbought or oversold on the daily, weekly, monthly charts? Do the fundamentals support the trade and the trend? Kss imho...
yes..,
usually it's pretty simple...
so
where are we going right now (?)
tell me, please
for move around 50 pips at least
to DPP and a little bit up... (1,4180th)
down to lower level of 4h inside bar to test it... (1.41th)
or
we have to wait

P.S.
I would like to find few trades today
would you please guide me
dolce vita
  • #596,869
  • May 23, 2021 7:21pm May 23, 2021 7:21pm
Quoting Sang.Real
{quote} GU Earlier trade was stopped out at SL. One scalp entry for today. The set-up : Price need to retest previous level before continuing down move. Hope this scalp will work. Entry at : bounce off SNR for retest to previous level. {image}
GU

Last Friday scalping position at Tokyo open on Monday 24th May, 2020.

Hope price will bring new high today.


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  • #596,870
  • Edited 7:38pm May 23, 2021 7:26pm | Edited 7:38pm
Quoting babayaga
{quote} yes.., usually it's pretty simple... so where are we going right now (?) tell me, please for move around 50 pips at least to DPP and a little bit up... (1,4180th) down to lower level of 4h inside bar to test it... (1.41th) or we have to wait P.S. I would like to find few trades today would you please guide me
I don't scalp.

Between April and May I'm up 263 pips atm... 7/7 trade wise.

I'm not trying to forecast 50 pips here or there. If the fundamentals support my trade long or short I look for the best possible entry based on price action on the daily, weekly, monthly charts.

Everything has to line up and then I take my shot.

I'm not into trying to time the market on a short term basis.

I take what the trend gives me.

I mean I do look at r/s once I take my entry and have an idea of what I could possibly bank.

For gbp/usd I'd be buying the dips.

The zones I would look at for tp would be 1.45 and 1.5 at this point.

My goal is to not over trade, manage risk, and make money.
"A true speculator tries the market small." - Jesse Livermore
  • #596,871
  • May 23, 2021 7:28pm May 23, 2021 7:28pm
Quoting Nordling00
{quote} If you don't mind me asking, how did you put these targets? I mean what they are based on? Don't get me wrong though i am not questioning your system, i am just asking how and why since i am curious.
most horizontal lines- upper&lower levels of inside bars.., ( 4H, Daily, Monthly )
it's not "precise" targets but some levels which might lead to some movement
some of them could become "target"

then
PP, session schedule.., trend or range etc.
usual stuff
every day

dolce vita
  • #596,872
  • May 23, 2021 7:30pm May 23, 2021 7:30pm
Buy low / sell high in 800 pips range.Extreme intere$$ area for GBPUSD 1.39000 -1.39250.... 100% strong reversal zone LONG 100-150 pips (or possible up continuation ,new highs).Till then SELL, SELL and SELL MORE.
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I'm The Real Deal Quant-XR ,The Financial Hacker
  • #596,873
  • May 23, 2021 7:34pm May 23, 2021 7:34pm
Quoting Jgcole83
{quote} I don't scalp. Between March and April I'm up 263 pips atm... 7/7 trade wise. I'm not trying to forecast 50 pips here or there. If the fundamentals support my trade long or short I look for the best possible entry based on price action on the daily, weekly, monthly charts. Everything has to line up and then I take my shot. I'm not into trying to time the market on a short term basis. I take what the trend gives me. I mean I do look at r/s once I take my entry and have an idea of what I could possibly bank. My goal is to not over trade, manage...
good
all my respect
may I ask you about DD? SL?
how much pips, % or whatever you let go against you


thank you
dolce vita
  • #596,874
  • May 23, 2021 7:36pm May 23, 2021 7:36pm
Quoting mtako
new long-term setup confirmed, Buy stop .4145 Wish you all a great week ! Going back to bed. {image}
imo
not yet
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dolce vita
  • #596,875
  • May 23, 2021 7:47pm May 23, 2021 7:47pm
Quoting babayaga
{quote} good all my respect may I ask you about DD? SL? how much pips, % or whatever you let go against you thank you
So I'll generally risk 3-5% a trade.

So lets say I buy 50,000 units and 3% is $300.

That gives me 60 pips to hit my sl initially.

Now if price moves my way 120 pips and I can add another 50,000 units on a pullback knowing that I can move my sl 60 pips to a break even point I do it.

Now I can wait for price to move my way another 50-100 pips whatever I'm comfortable with at this point only risking some of the profit.

I can sleep at night and not worry about short-term gyrations.
"A true speculator tries the market small." - Jesse Livermore
  • #596,876
  • May 23, 2021 8:12pm May 23, 2021 8:12pm
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yes yes yes
  • #596,877
  • May 23, 2021 8:27pm May 23, 2021 8:27pm
Quoting Jgcole83
{quote} So I'll generally risk 3-5% a trade. So lets say I buy 50,000 units and 3% is $300. That gives me 60 pips to hit my sl initially. Now if price moves my way 120 pips and I can add another 50,000 units on a pullback knowing that I can move my sl 60 pips to a break even point I do it. Now I can wait for price to move my way another 50-100 pips whatever I'm comfortable with at this point only risking some of the profit. I can sleep at night and not worry about short-term gyrations.
Hi JG Cole,

Very nice strategy.

I like the way you express to embrace the discomfort of 'not knowing' in the short term.
And come up with a process that yields a positive outcome in the long run―and you trust it fully.

You plan your trade well, your edge is your mind.
With your experience, your perception, your composure, your intention, your vision, your commitment, your discipline... That's your edge.
Respect that.

Profit or loss, greet this day with virtue.

Trade Well and all the best.

Regards

Sang Real
  • #596,878
  • May 23, 2021 8:45pm May 23, 2021 8:45pm
It think it will be easy 10 pips
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  • #596,879
  • May 23, 2021 9:07pm May 23, 2021 9:07pm
Quoting AlfieSolomon
It think it will be easy 10 pips {image}
i do the opposite , i buy it ^_^ when trend going to be swap to down , price monday usually will rally first in asian session and do reverse or continue on L.O
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #596,880
  • May 23, 2021 9:07pm May 23, 2021 9:07pm
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