What is the opening time on Monday, 31st UK. Please
This Monday is a bank holiday
Cable Update (GBPUSD)
- #598,443
- May 28, 2021 1:00pm May 28, 2021 1:00pm
- Joined Oct 2010 | Status: Trader | 4,465 Posts
Coming down but just a retest after the break up Daily is an uptrend and the last minor swing down was corrective , we can clearly see the abc correction on H4 H4 powered up to break the last lower high from daily correction , we can take a look at the structure of the H4 swing up on H1 and it is clear to see a very nice 5 wave impulse Now H1 is coming down abc for the retest and abc is confirmed with the b being an abc itself, a and b are complete so we are now in c Retail traders will be shorting here only to get another surprise similar to...
Forgot its Bank Holiday Monday
Follow The Markets Structure - Patience and Discipline
- #598,445
- May 28, 2021 1:37pm May 28, 2021 1:37pm
- Joined Sep 2017 | Status: Trader | 4,360 Posts
Trade to trade another day
- #598,446
- May 28, 2021 1:40pm May 28, 2021 1:40pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #598,449
- May 28, 2021 1:57pm May 28, 2021 1:57pm
- Joined Oct 2020 | Status: Trader | 14,017 Posts
Insane in the Brain..
- #598,451
- May 28, 2021 2:37pm May 28, 2021 2:37pm
{quote} Look through https://www.stevehopwoodforex.com You can find something there __________________________________________________________________________ Pay attenion to 1.42263 on Monday. It may reject from there and will go up again. Cheers!
Alright Bro. Thanks
- #598,452
- May 28, 2021 2:41pm May 28, 2021 2:41pm
Hey all. I’m a bit embarrassed to post my trades for today, but here they go.
After some reflection, I’ve decided to change to an older strategy I used to use which is essentially reversals using S&R levels for confluence. Instead of exploring and trying to optimise different strategies, I will just focus on exploiting the one that has given me the most consistent results in the past.
This month has taught me that trying to pay attention to every trade only gets in the way of the few good trades you actually need. Unfortunately my scalping habits are dying hard, even with split positions! I identify reversals okay (circled) but my left brain pounces on every profit over 10 pips even as my right brain, considering the bigger picture, looks on disapprovingly. Once I have retrained my brain should be good to go!
In future I hope to contribute more in the way of analysis by framing reversals as I see them.
Hope everyone had a good week.
After some reflection, I’ve decided to change to an older strategy I used to use which is essentially reversals using S&R levels for confluence. Instead of exploring and trying to optimise different strategies, I will just focus on exploiting the one that has given me the most consistent results in the past.
This month has taught me that trying to pay attention to every trade only gets in the way of the few good trades you actually need. Unfortunately my scalping habits are dying hard, even with split positions! I identify reversals okay (circled) but my left brain pounces on every profit over 10 pips even as my right brain, considering the bigger picture, looks on disapprovingly. Once I have retrained my brain should be good to go!
In future I hope to contribute more in the way of analysis by framing reversals as I see them.
Hope everyone had a good week.
- #598,454
- Edited 4:09pm May 28, 2021 3:52pm | Edited 4:09pm
- | Membership Revoked | Joined Jul 2020 | 7,294 Posts
- #598,455
- May 28, 2021 3:56pm May 28, 2021 3:56pm
- Joined Jul 2011 | Status: Hi hoo im back!! | 2,678 Posts
- #598,457
- May 28, 2021 4:06pm May 28, 2021 4:06pm
- Joined Oct 2020 | Status: Trader | 14,017 Posts
Insane in the Brain..
- #598,458
- May 28, 2021 4:10pm May 28, 2021 4:10pm
{quote} No embarrassment required seems like you did a good job. Trading constantly pits your logical brain against your emotional brain. Trying to subdue your emotions is like telling your hair not to grow. Even as discretionary traders we have to somehow codify our rules for entry and exit before we push the button, I think, otherwise we're at the whim of whatever dopamine and cortisol our adrenals decides to pump out.
I have created rules for split positions and aside from the probability of the trade working I’ve been trying to consider the different ways split positions could play out. I’ve added a screenshot from my trading plan. It’s a new way of doing things for me and even though I am experimenting with small positions I struggle to follow these rules. These new trades need a couple of hours yet I am used to trading for minutes at a time and find myself closing out as soon as there’s profit - or not! I think next week I will just set and forget, win or lose, until my emotional brain stops interfering.
