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Cable Update (GBPUSD)

  • #608,321
  • Jul 9, 2021 6:00am Jul 9, 2021 6:00am
Quoting Pat Chiko
{quote} GU End of scalping to Target level. Watch H4 SRF zone and QM are at H1. Wait for confirmation before taking the trade at NYO. All this excercise (selling and buying) are just how the market works to find liquidity pool, to fill IT order books. The concepts such as finding concentrations of orderflow etc... are pretty commonsense... no one wants to trade in areas of low liquidity. We transact and that interprets into what you see on your charts. To me, getting to the essence of order flow is doing what this guy alludes to. {image}
Sweet. I'm looking for sell confirmation at almost same area
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How to succeed in zero sum game?
  • #608,322
  • Jul 9, 2021 6:06am Jul 9, 2021 6:06am
this is strange
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yes yes yes
  • #608,323
  • Jul 9, 2021 6:07am Jul 9, 2021 6:07am
Quoting babayaga
does it mean UP? {image}

Charts are a valuable tool for every traders,
Forex is obviously a heavily technical market so they can be of great value.

The most important thing is understanding why and how price moves along with who and what moves it.

Yes, we should study market structure and micro-structure indeed.
I'm no expert, but a good understanding of it sure helps.
I'm pretty much looking to fade concentrations of liquidity, looking for liquidity gaps, barriers, common obvious longer term TA that everyone see's along with trying to find what the market's main focus is, what's being priced in, trying to find the positioning... this type of stuff.

None of it to me is any secret or new concept.

Regards

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #608,324
  • Jul 9, 2021 6:07am Jul 9, 2021 6:07am
Every rise presents a selling opportunity, we are in a downtrend and still targets 1.35 this July...
Data + Stat + Risk/Emotions Management
  • #608,325
  • Jul 9, 2021 6:08am Jul 9, 2021 6:08am
GU H4
I am looking for short in 1.3825/50 area.

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  • #608,326
  • Jul 9, 2021 6:11am Jul 9, 2021 6:11am
SELL 1.38120
  • #608,327
  • Jul 9, 2021 6:13am Jul 9, 2021 6:13am
Closed my longs at 3815.

Nice 52 pips.

Now, will wait for retrace to enter long again.
Intraday only.
  • #608,328
  • Jul 9, 2021 6:15am Jul 9, 2021 6:15am
Quoting navk
Closed my longs at 3815. Nice 52 pips. Now, will wait for retrace to enter long again.
retrace possible till 1.38?
  • #608,329
  • Jul 9, 2021 6:17am Jul 9, 2021 6:17am
Quoting Georginson
Sold again at 1.3811 no defined stop or target set... Reason this 4 hours candle already has 43 pips range (1.3770 - 1.3813) and average 4 hours candle contains 45 - 55 pips range which means that only 10 - 15 more pips to complete the 4 hours candle range, hence less risk to sell between 11:40 to 14:00 London time... {image}
Closed my buy and thinking of reversing too. Good luck!
  • #608,330
  • Jul 9, 2021 6:20am Jul 9, 2021 6:20am
GU

If this level hold, we may see a jump to next level for liquidity.

Careful. Just wait for confirmation either you're taking LONG or SHORT trades.

good luck

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #608,331
  • Jul 9, 2021 6:25am Jul 9, 2021 6:25am
you had your fun , MF , IT's time for you to die !!!!!!
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yes yes yes
  • #608,332
  • Jul 9, 2021 6:26am Jul 9, 2021 6:26am
Quoting Ehsank78
{quote} retrace possible till 1.38?
Let the price test YH first, then we can see price action and intention when the IT want to bring it (long or short)
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #608,333
  • Jul 9, 2021 6:27am Jul 9, 2021 6:27am
Quoting gatenio
{quote} usually i dont use pivots, low impact after low vol day like yesterday. happy you on the winners side anyway. good weekend you a and all.
thank you for your kind words..,
it's not exactly about PP.., I think it's more about "target" you can archive.., about direction you can take..,
it's my"reading" of chart..,
then
are you right or wrong.., usual stuff

you too have a nice weekend

P.S.I am around 60 pips in profit now.., not that much ( if I took the double bottom of gj yesterday, I was already on 120.., c'est la vie )
dolce vita
  • #608,334
  • Jul 9, 2021 6:28am Jul 9, 2021 6:28am
Quoting Ehsank78
{quote} retrace possible till 1.38?
yes possible
Intraday only.
  • #608,335
  • Jul 9, 2021 6:29am Jul 9, 2021 6:29am
Quoting Wavegarrick
{quote} Hi Bt, Yes I am getting a bit concerned with the lack of bearish conviction. Gu has been languishing at these levels for some time now. In short, time is running out for bears. I don't change my stance often. It needs the forex gods now. Tomorrow is Friday so maybe a bit more direction. Cheers.
50% fib retrace 1.38197 of this week's high. Will look for rejection here to add shorts.
Cheers.
Trade to trade another day
  • #608,336
  • Jul 9, 2021 6:29am Jul 9, 2021 6:29am
Nice week of trading for me... little high impact news..
7 trade (6 win, 1 be).
capital increase 7 times..

time for widthraw..

done for this week..
Peace Yo!
  • #608,337
  • Jul 9, 2021 6:29am Jul 9, 2021 6:29am
...made light work of the potential resistances so far...that prev 1hr/4hr sw lo then hi zone, = pot sbr (the hi to 3841) houses the 61.8% fib 3899-3741 with Dly R2 in the mix there too, as is Wkly Pivot (not on chart below) but that's been breached already up, down, then up though it again this week, like a knife through butter!

1hr below.
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Trader with an Edge.
  • #608,338
  • Jul 9, 2021 6:30am Jul 9, 2021 6:30am
Quoting Pat Chiko
{quote} Charts are a valuable tool for every traders, Forex is obviously a heavily technical market so they can be of great value. The most important thing is understanding why and how price moves along with who and what moves it. Yes, we should study market structure and micro-structure indeed. I'm no expert, but a good understanding of it sure helps. I'm pretty much looking to fade concentrations of liquidity, looking for liquidity gaps, barriers, common obvious longer term TA that everyone see's along with trying to find what the market's main...
it was a kind of rhetorical question...

thank you anyway for your kind response
dolce vita
  • #608,339
  • Jul 9, 2021 6:30am Jul 9, 2021 6:30am
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Like me, cuts losses quickly. But has more patience and lets his winn
  • #608,340
  • Jul 9, 2021 6:31am Jul 9, 2021 6:31am
Quoting Pat Chiko
GU If this level hold, we may see a jump to next level for liquidity. Careful. Just wait for confirmation either you're taking LONG or SHORT trades. good luck {image}
3805/00 to 3860 or more to me.
Intraday only.
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