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Cable Update (GBPUSD)

  • #608,841
  • Jul 12, 2021 11:04am Jul 12, 2021 11:04am
How about a double top ?

All eyes tomorrow
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#Stay blue. /swinger/scalper/
  • #608,842
  • Jul 12, 2021 11:06am Jul 12, 2021 11:06am
Quoting Pat Chiko
{quote} GU I get nervous trading at this level. (long side) What I'm seeing is the scenario if no strong momentum happen during this session, a bear accumulation power for a nice short on the way. Just waiting to ride the bear soon.
Hi Pat,

I'd like to think that was wise considering how PA is looking at these levels. Perhaps a bit of time will give us that momentum.

Keep well
  • #608,843
  • Jul 12, 2021 11:08am Jul 12, 2021 11:08am
Quoting navk
{quote} agree if next 4 hr candle does not break 3894
Hi Navk,

Let's give it time and see where it closes.
It should be interesting.

Keep well
  • #608,844
  • Jul 12, 2021 11:19am Jul 12, 2021 11:19am
most probable scenario
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  • #608,845
  • Jul 12, 2021 11:24am Jul 12, 2021 11:24am
Quoting mysterio
{quote} I set my stop to 20 pips profit on this now, if it ranges here and hits it so be it 100 pips a week/20 a day is my target I am pretty high conviction on a further move up but can't let this hit BE or go negative, can always re-enter tomorrow
Am with you on this mate. My target is 50 pips a day but what I call break even for my weekly income is 20-30 pips a day. Anything else is a bonus
Insane in the Brain..
  • #608,846
  • Jul 12, 2021 11:41am Jul 12, 2021 11:41am
Quoting BeeTogether
{quote} Am with you on this mate. My target is 50 pips a day but what I call break even for my weekly income is 20-30 pips a day. Anything else is a bonus
Yea I find when I say to myself 'I will take 20 pips a day and 20 only' hitting this target on a weekly basis is very easy

Where it gets messy is if I say to myself I want 50, or 100 in a day. Of course I'll take it if it's there

I figure if I can consistently do the 20 then I can always crank up the lot size over time. I get very impulsive the more I trade though so the discipline to stick to this needs to be there.
  • #608,847
  • Jul 12, 2021 11:50am Jul 12, 2021 11:50am
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yes yes yes
  • #608,848
  • Jul 12, 2021 12:10pm Jul 12, 2021 12:10pm
Quoting mysterio
{quote} Yea I find when I say to myself 'I will take 20 pips a day and 20 only' hitting this target on a weekly basis is very easy Where it gets messy is if I say to myself I want 50, or 100 in a day. Of course I'll take it if it's there I figure if I can consistently do the 20 then I can always crank up the lot size over time. I get very impulsive the more I trade though so the discipline to stick to this needs to be there.
that is my problem too and also my impatience.. had I waited 30 mins today I’d have made 50 pips for the day on the way down and then another 50 on the way up!
Insane in the Brain..
  • #608,849
  • Jul 12, 2021 12:25pm Jul 12, 2021 12:25pm
Quoting Mr.Burger
{quote} my view it's look like the same pattern {image}{image}
I missed the school bus, my pending order wasn't picked up --- Delete order [Enter]
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Daddy, Brother, Lover, Little Boy
  • #608,850
  • Jul 12, 2021 12:33pm Jul 12, 2021 12:33pm
If Daily above 1.386 not showing any weakness and price will keep rising more 100 pips imo
  • #608,851
  • Jul 12, 2021 12:52pm Jul 12, 2021 12:52pm
That friday candle get into my head.. clearly messing with my thoughts... this is not easy.. but worth giving a shot..
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  • #608,852
  • Jul 12, 2021 12:52pm Jul 12, 2021 12:52pm
I think this might be of interest to some of you, particularly those of you talking about stop losses and take profits today.
A few notes I have taken about applying probability theory to split positions in order to maximise trades.

https://docs.google.com/document/d/1...it?usp=sharing
  • #608,853
  • Jul 12, 2021 1:02pm Jul 12, 2021 1:02pm
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Like me, cuts losses quickly. But has more patience and lets his winn
  • #608,854
  • Jul 12, 2021 1:22pm Jul 12, 2021 1:22pm
Quoting M.Fadly
{image}
that too line is about 40 more than I was looking at but if it happens it’s be bloody marvellous!
Insane in the Brain..
  • #608,855
  • Jul 12, 2021 1:44pm Jul 12, 2021 1:44pm
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yes yes yes
  • #608,856
  • Jul 12, 2021 2:02pm Jul 12, 2021 2:02pm
Quoting mysterio
{quote} Yeah love TLs and channels especially great for cable, again TLs you just gotta learn to work around them are they are rife with manipulation especially on higher TF Yeah agreed you just need to pick one or two things that make sense to you and practice a lot really
TL..,
I think it's a nice example of "when some old TL comes in play..."
4H.., she (cable) between two TL and for me right now there is no confirmation UP until cable will passed "this old one", because otherwise price will be back at 1.3820 and then 1,3750th
...she was already above.., and then returned under
now trend line is around 1.3890th

do I have to write that I respect old TL.., isn't it clear yet...
P.S. daily chart in addition.., I think I have already posted this chart few days ago.., doesn't matter
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dolce vita
  • #608,857
  • Edited 4:35pm Jul 12, 2021 4:01pm | Edited 4:35pm
... Just updating charts before bedtime. Gmt+3 daily candle closes as below...you can see on this dly t/f that price found support on the pullback from the dly hi of 3910 @ the prev sw hi (=prev res = potential rbs) and topside of the breached descending t/line (also top of a prev 4hr sw hi zone = pres res = pot rbs) resulting in a further run-up before encountering more supply in the prev 1hr/4hr sw hi zone created by today's hi @ the descending t/line that joins that hi from 4185, (shown on 4hr chart below the dly, below.)

Is 4hr going into an uptrend too, (with 1hr?) Last fractal prints on this t/f starting @ Friday's 3741 lo are LL, LH, HL, H, HL, LH...so 2 x HL's but no HH as yet, or do we have a double top?

Dly, then 4hr below.
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Trader with an Edge.
  • #608,858
  • Jul 12, 2021 7:25pm Jul 12, 2021 7:25pm
Tp is 1.3900-1.39174
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yes yes yes
  • #608,859
  • Jul 12, 2021 7:29pm Jul 12, 2021 7:29pm
Potensial double topper. Lets see how it work
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #608,860
  • Jul 12, 2021 7:31pm Jul 12, 2021 7:31pm
Quoting Moty
{image}{image}
wow signs of a very bad trader, insanity is doing the same thing over and over and expecting a different outcome!!!!!!!!!!!!!
you are clearly focused on maximizing return- badly
Why dont you focus on minimizing loss
according to your chart entry 9036 .10 lot and 8537 .15 lot close them now and all red trades will be covered with decent profit, put sl on 1549, 1729 @ BE + 5 pips 3867 & ????(cant see) @ BE all other put sl @ sub 3871 or close,
Buying a strong psych level 1 39000 1hr 4hr daily and weekly previous highs was impatient poorly planned and plain stupid
weekly has new high supports bullish
daily yesterday is bearish doji
4hr has bearish doji inplay high 3903, previous 4hr high 3908, psych 3900 all in play as resistance
So do as I say, you are in profit, plus risk averse with trades still live with potential to appreciate, whatever pa does
Dont do it, market dumps, you will drown in drawdown even worse
Im no say market will go up or down, just suggesting a simple rescue plan
:-)
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