Cable Update (GBPUSD)

scalping (-) 20 pips loss
entering sell again

come on , break that mf down

Hey Pat,

Looking at your daily chart, all I can see is a bear full of muscles. I was going to agree with you if we bounced off 1.37146 first. The fact that price conveniently ignored that major levels before 1.3974 speak volumes. As a swing/position trader, I would only have an interest in sell trades.

For you being a pro scalper, you can trade all directions and by default would see differently from what id see looking at a the same daily chart.

You also mentioned the wicks not being significant enough? I say the base not significant enough for any bull attack. Maybe if price tested 1.37146 first, then you'd have a solid reason to buy for keeps or near term.

Anyway, let's keep an eye.
One thing is certain, we are both speculating till the fact.

Take care and remain kind

Rigidity kills and that is really true.

Why do we make mental assumptions and believe the market/price will respect our assumptions?
why do we gamble our money on every trade by predicting the direction beforehand and protecting from crippling loss by putting a stop loss that

1 will be taken out by volatility
2 will allow us to take a loss
3 if put away from volatility the loss will be bigger

The one thing I have learned is that the market is really not complicated but our systems are to rigid and to predictive to be effective.
can you agree with me that the market.
1- has trends
2- acts in waves
3- has 4 basic market structures (bull, bear, topping and consolidating, and ranging)

Why go all in at once? Jessie Livermore used to scale in, JayBag's and Wavegarrick's snowball in, and that is the best way. Below is what I observe how Justin and Leon handle their trades, am learning it.

This is the way good trades are taken and hope you find some usefulness and adapt it change it or do as you please with it but the one thing you should take into consideration is that RIGIDITY DOES KILL. A system should be flexible, not one arrow into one direction perpetually.

1- Determine market structure mixing fundamental analysis and technical analysis. ALWAYS determine where the USD is moving and move with it, it makes it hard to be on the wrong side

2- Don't try to catch every fluctuation as this is dangerous (if in a bull market why go bear to catch the correction when the bull might charge at any moment) try to catch the MOVEMENT of the price. using a higher time frame to give me a bigger picture and a smaller time frame that allows me to feel the wave, the rhythm and movement of price.

3- Snow ball way in, one initial small lot if I am correct it will be in the green right away, and I can press the attack by fib ratio skews 1,2,3,5,8 etc
if i am correct in the direction but ill timed i will go in the red and simply wait for the market to come back and prove me right, or wait for the market to prove me wrong with minimal losses.

Or I can attempt to rescue by averaging down, or hedging it really depends on your psych and risk apatite. the market will not always go your way right away sometimes it goes 50 pips the other way just to resume its trend, hold on and know when to press the attack.
This makes them (Leon and Justin) very profitable when you're right by snowballing and minimizes your losses when wrong by not risking but your initial small position.

he's a legend on it..

Might be...I am not in a trade and thus unbiased...for me its too high to buy and too low to sell, so just waiting for a better entry. But I am in favor of 4100, based on the chart and PA only.

this hour has to tell where she's going

SL at b/e hit now gone short till 139 or daily pivot

scalping (+) 5
& two position sell
imo hour candle is trying to confirm DOWN (???)

yes , tonight is my night

G/M, back from hols..hope everyone is doing ok.

1hr falling wedge broke to the upside before supply at the prev 1hr/4hr swing hi zone / descending t/line joining 4249 with 3986 kicked in ...

Price is challenging prev 1hr sw lo zone now at the prev 1hr sw hi zone that acted as rbs on the 1st bounce from it following the supply described above.

1hr below.

now if 1.3907 will play as resistance (?)
let's see

its like on Friday , but this time i stayed in in my shorts , double meaning

Price moving strangely
im enter another buy 1.3901 cause we want the big short and this is not the right place.

true!

Yea I got stopped BE out my first one and entered a smidge lower

Not sure if it's just the usual manipulation, collecting stops from morning buyers, shorts from triangle breakout sellers etc. This is my last try at a long then come back for NY. Target still up at 1.3960ish

If it just smashes down then not sure, I'm puzzled

im still scalp ranging 1.39000 - 1.39350 until show some teeth

this is the perfect place
don't worry about my orders , the just hidden

i aint worry, but i dont understand your charts most of the time.
and we defiantly see the same thing.. this is just a scalp.. when i trade i usually ask my self, where to?
and add the when, this is the most difficult part, but this is my view right now, we will get pump and drop.

just for me, stick to your charts.
i think most of the time when you look at time frame that is bigger then 15m, it after you enter the trade and not before.

and if its the perfect place, how come you have an arrow to 1.4 and down?