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Cable Update (GBPUSD)

  • #606,661
  • Jul 2, 2021 8:52am Jul 2, 2021 8:52am
Quoting mysterio
{quote} Asia range low and high stops taken out, if it follows a similar pattern we should fall now https://www.forexfactory.com/thread/...9#post13609849 {image}
Why
  • #606,662
  • Edited 9:10am Jul 2, 2021 8:58am | Edited 9:10am
Quoting Nd10
{quote} Why
Not trading it because it's post NFP and too unpredictable

I just found it's quite a common pattern for cable to fake out either side of the Asian range and then continue in the direction of the side it first faked out presumably for liquidity reasons. I guess a lot of traders set stops and limits on either side of the overnight range so its common hunting ground. Manipulation is very common during NFP so if we expect the trend to continue, the MMs could easily target this area for liquidity to continue down.

It's complicated by the fact that 1.3715-56 is H4 demand and I'm not keen to sell into this area as I expect the correction to originate from here. That was the only reason I bought for NFP plus the fact DXY hit weekly supply. I don't think the actual numbers matter at all it's more about the levels.

This is an ideal time to trap people so careful trading. DXY still has some room up before it reverses in earnest
  • #606,663
  • Jul 2, 2021 9:01am Jul 2, 2021 9:01am
Quoting ricmaj
{quote} You got a tp price?
Those short scalping trades completed already.

Now in LONG position.

Don't have the hand to post all trades in here.

Today GU is giving free pips to everyone. No matter you're bull or bear.

Attached Image (click to enlarge)
Click to Enlarge Name: gu 024.jpg Size: 228 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #606,664
  • Jul 2, 2021 9:06am Jul 2, 2021 9:06am
Quoting Pat Chiko
{quote} Those short scalping trades completed already. Now in LONG position. Don't have the hand to post all trades in here. Today GU is giving free pips to everyone. No matter you're bull or bear. {image}
PAUSED.

No entry yet.

Until GU makes its next move.

No trade yet
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #606,665
  • Jul 2, 2021 9:10am Jul 2, 2021 9:10am
entered short @ 1.3775..
  • #606,666
  • Jul 2, 2021 9:10am Jul 2, 2021 9:10am
Quoting Pat Chiko
{quote} PAUSED. No entry yet. Until GU makes its next move. No trade yet
GU

Waiting for Short scalping set up


Attached Image (click to enlarge)
Click to Enlarge Name: gu 025.jpg Size: 240 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #606,667
  • Jul 2, 2021 9:23am Jul 2, 2021 9:23am
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 42 KB
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 46 KB
yes yes yes
  • #606,668
  • Jul 2, 2021 9:26am Jul 2, 2021 9:26am
Quoting Cateus
entered short @ 1.3775..
closed with few pips. not so confident.
  • #606,669
  • Jul 2, 2021 9:30am Jul 2, 2021 9:30am
Ok new strategy for me. This scalping for big money is not working. Next week trying for no more than 50 pips a day. Over multiple trades.
Insane in the Brain..
  • #606,670
  • Jul 2, 2021 9:32am Jul 2, 2021 9:32am
Sharing a trading tool
paste it in e.a folder
Attached Image (click to enlarge)
Click to Enlarge Name: Scalping Tool.jpg Size: 43 KB
Attached File(s)
File Type: ex4 Trading Panel V1.2-YousefH.ex4   147 KB | 230 downloads
Intraday Trading is an Art _ hoda
  • #606,671
  • Jul 2, 2021 9:35am Jul 2, 2021 9:35am
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 42 KB
yes yes yes
  • #606,672
  • Jul 2, 2021 9:38am Jul 2, 2021 9:38am
Quoting hoda
Sharing a trading tool paste it in e.a folder {file} {image}

Thank You Honda.

That's very kind of you to share.

I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #606,673
  • Jul 2, 2021 9:39am Jul 2, 2021 9:39am
Quoting BeeTogether
Ok new strategy for me. This scalping for big money is not working. Next week trying for no more than 50 pips a day. Over multiple trades.
What do you mean ? what wasn't working ?
  • #606,674
  • Jul 2, 2021 9:46am Jul 2, 2021 9:46am
Quoting BeeTogether
Ok new strategy for me. This scalping for big money is not working. Next week trying for no more than 50 pips a day. Over multiple trades.
You mean daily cummulative of trades will be 50 pips or individual trades would be 50pips? Whichever it is, we have to hail Jaybag, Wavegarrick. Those men can hold trades for freaking long. It's only Jaybag that would understand this " they can hold trades for Africa"
PS Pat Chiko aka Sang Real makes like 1m pips daily . Hot sniper
  • #606,675
  • Jul 2, 2021 9:47am Jul 2, 2021 9:47am
Quoting mysterio
{quote} Not trading it because it's post NFP and too unpredictable I just found it's quite a common pattern for cable to fake out either side of the Asian range and then continue in the direction of the side it first faked out presumably for liquidity reasons. I guess a lot of traders set stops and limits on either side of the overnight range so its common hunting ground. Manipulation is very common during NFP so if we expect the trend to continue, the MMs could easily target this area for liquidity to continue down. It's complicated by the fact...
Ahh worth a punt, TP open lock in after 10 pips. Will cut immediately if it turns around, dont want to give back anything.

Edit-stopped at BE @ 15:55, forget it, nothing's going to happen at this time.
Attached Image (click to enlarge)
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  • #606,676
  • Jul 2, 2021 9:53am Jul 2, 2021 9:53am
Bull flag on M5?
  • #606,677
  • Jul 2, 2021 9:57am Jul 2, 2021 9:57am
Quoting mysterio
{quote} That's great man. Doing the analysis is one thing but having the patience and courage to execute on both sides of the trade is a whole other thing entirely. I got in at 1.40 and out at 1.39 the next day but even that took a lot for me. Having the courage of your convictions in trading requires the kind of confidence that comes from experience. I pretty much have to scalp at my stage because I don't have the emotional control to hold trades over several days.
Thanks a lot for your words
You are doing well, I see it from your charts. If you feel ok scalping, just keep doing it.
Higher or lower TF, most important think is to be profitable on long run
  • #606,678
  • Jul 2, 2021 10:01am Jul 2, 2021 10:01am
Quoting mysterio
{quote} What do you mean ? what wasn't working ?
Me trying to scalp over 100 pips a day
Insane in the Brain..
  • #606,679
  • Jul 2, 2021 10:08am Jul 2, 2021 10:08am
Quoting BeeTogether
{quote} Me trying to scalp over 100 pips a day
I know the feeling- back in March/April I had a few weeks where I seemed to be taking down 100+ pips a day- thought I'd cracked it and would retire on the beach in no time ( I think because the market was in a predictable trend with periodic pullbacks and it was easy to jump in both ways).

However it's unrealistic, if you aim for this every day you will get yourself into trouble. If you can set a modest target and stick to it the game becomes a lot easier and stress free. Days like this- if you can scalp off one or max two 15/20 pip scalps then you're doing well and it's best to stop
  • #606,680
  • Jul 2, 2021 10:09am Jul 2, 2021 10:09am
Anyone watch volume at H4 ? I see some4thing nice there haha
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
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