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Cable Update (GBPUSD)

  • #612,101
  • Jul 26, 2021 9:53am Jul 26, 2021 9:53am
Keep loading sell trades, 1.3446 is next in days ahead.
Data + Stat + Risk/Emotions Management
  • #612,102
  • Edited 10:06am Jul 26, 2021 9:54am | Edited 10:06am
1.3837-62 can cause difficulty

I wouldn't short into such strong momentum but let price lead the way (personally as I use SL 10 pips or less usually), but we can get a reaction here. Intraday only
  • #612,103
  • Jul 26, 2021 9:57am Jul 26, 2021 9:57am
Short term downside pressure
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Be a spectator, not a player
  • #612,104
  • Jul 26, 2021 9:59am Jul 26, 2021 9:59am
THE 9 ema and 76 lwma crossover strategy
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yes yes yes
  • #612,105
  • Jul 26, 2021 10:04am Jul 26, 2021 10:04am
Quoting Pat Chiko
{quote} Pip Farm, Thanks for your heads up. I was in quick scalp and ditch the target & reverse the trade, in nick of time. Thanks again for your valuable post , in helping others to make trade decision more effectively. That's why we are here for. Regrds PAT This was the trade, that I manged to get out in quick action after reading your post {quote} {image}

No problem your welcome,

I still do not understand why you pulled that SR stunt , your such a good trader, i am sure everyone would of learned a lot from you regardless of that stunt,

anyway that is done and dusted , we all make mistakes and learn from them.


Pipfarm
Follow The Markets Structure - Patience and Discipline
  • #612,106
  • Jul 26, 2021 10:10am Jul 26, 2021 10:10am
Quoting Pat Chiko
{quote} Same tools as standard in MT4 have. Marked by stars {image}
You forgot these.......
Lost....
  • #612,107
  • Jul 26, 2021 10:15am Jul 26, 2021 10:15am
Quoting pipfarm
{quote} No problem your welcome, I still do not understand why you pulled that SR stunt , your such a good trader, i am sure everyone would of learned a lot from you regardless of that stunt, anyway that is done and dusted , we all make mistakes and learn from them. Pipfarm
Should't be any trade there, coz I can see momentum building up for bull.

Sometimes bad habit enter the mind unconsciously.

Luckily , fellow trader post manage to wake me up from my dream.

BTW,

you reckon, any minor pull back before the final push to London Close. ?
No, I'm not taking any pullback trade, just follow the impulse move ATM.

Appreciate your help.

Warm Regards

PAT.

P/s you place in flooding now ?.Saw news London is flooding.

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #612,108
  • Jul 26, 2021 10:21am Jul 26, 2021 10:21am
Quoting gespiri
{quote} You forgot these.......
Honestly,

I got a lot of help from other good traders in this thread.

Making decision to take a trade is hard, unless you can see what the other side is doing/their intention on the next moves.

Need to read a lot of good posting in this thread and compares with my own notes and set up.

That's the only way to improves one skills.

P/S Sometimes, I pull some stunt , thought can get out in quick get away, but get caught just by few pips from target.
The last trades posted here, is a good example of my stupid stunt... lol


Regards

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #612,109
  • Jul 26, 2021 10:25am Jul 26, 2021 10:25am
Quoting Pat Chiko
{quote} Should't be any trade there, coz I can see momentum building up for bull. Sometimes bad habit enter the mind unconsciously. Luckily , fellow trader post manage to wake me up from my dream. BTW, you reckon, any minor pull back before the final push to London Close. ? No, I'm not taking any pullback trade, just follow the impulse move ATM. Appreciate your help. Ward Regards PAT. P/s you place in flooding now ?.Saw news London is flooding. {image}

No flooding here, i live just outside London on a hill,

Flooding is due to moon wobble, happens every 18 years.

As for minor pullback, i can not forecast the future, if there is a minor pullback you will see it and trade accordingly


Pipfarm
Follow The Markets Structure - Patience and Discipline
  • #612,110
  • Jul 26, 2021 10:26am Jul 26, 2021 10:26am
Bad start of the week.. 50 pips positive in two trades turned into -50 pip loss in total... have to work harder this week...
  • #612,111
  • Jul 26, 2021 10:30am Jul 26, 2021 10:30am
Quoting kk300
Bad start of the week.. 50 pips positive in two trades turned into -50 pip loss in total... have to work harder this week...
same, but still holding.
Elliot wave 4th wave didnt finish where i expect it will.

soon correction of abc down.
1.385 area should be top.
E wave cycle is already in end zone.
  • #612,112
  • Jul 26, 2021 10:33am Jul 26, 2021 10:33am
To those who use DXY chart along with GU to trade.
I got some noob question.

I haven't seen this discussed much and would be good to get some feedback from some experienced traders that use this type of thinking/analysis in their assessments.

For me the value of one pair must be comparable to something else for value to be properly evaluated, just by looking at the chart of GU one can not ascertain if this is good value to buy or sell because a piece of the puzzle is missing, what can one use to help this assessment.

Is looking at long term DXY and GBP bonds enough?

Regards

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #612,113
  • Jul 26, 2021 10:40am Jul 26, 2021 10:40am
You can choose to catch the pull back to 1.38010 (a minor sell) then a strong BUY follows afterwards
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  • #612,114
  • Jul 26, 2021 10:47am Jul 26, 2021 10:47am
Quoting Pat Chiko
{quote} Honestly, I got a lot of help from other good traders in this thread. Making decision to take a trade is hard, unless you can see what the other side is doing/their intention on the next moves. Need to read a lot of good posting in this thread and compares with my own notes and set up. That's the only way to improves one skills. P/S Sometimes, I pull some stunt , thought can get out in quick get away, but get caught just by few pips from target. The last trades posted here, is a good example of my stupid stunt... lol Regards...
You got lucky, I was lucky, to find a person and a trader as Pipfarm.
Nowadays is very difficult to find this kind of people anymore, imho.
I call upon my father's spirit , watching over me
  • #612,115
  • Jul 26, 2021 10:58am Jul 26, 2021 10:58am
Circled candle will cause the price to reject or pull back at 1.38350
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  • #612,116
  • Jul 26, 2021 10:59am Jul 26, 2021 10:59am
Quoting Brixen
{quote} You got lucky, I was lucky, to find a person and a trader as Pipfarm. Nowadays is very difficult to find this kind of people anymore, imho.
Finding a system that works for us is important.
I grasp the method that simple to use ,but I can guarantee that we wont trade a system as effectively as other professional do.

We are different people, most likely with different goals.
It all comes back to hard work, and money.
We aren't going to get something for nothing, not of value anyway.

And I also agree with, I believe it was Pip Farm, the fact that some things are too powerful for most traders, because without a thorough understanding of complex strategies it will do nothing but cost us money. (losing trades)

This is where the experimentation comes into play.

Folks, all people are created equal and remain that way... until they draw their first breath.
After that point its all up to you, no one else is responsible for your success.
We are blessed to have good people guiding us in the right direction to trade.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #612,117
  • Jul 26, 2021 11:05am Jul 26, 2021 11:05am
Quoting kk300
Bad start of the week.. 50 pips positive in two trades turned into -50 pip loss in total... have to work harder this week...
Not harder work smarter
  • #612,118
  • Jul 26, 2021 11:07am Jul 26, 2021 11:07am
The price moving up like Fridays.
Intraday only.
  • #612,119
  • Jul 26, 2021 11:23am Jul 26, 2021 11:23am
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yes yes yes
  • #612,120
  • Jul 26, 2021 11:42am Jul 26, 2021 11:42am
Quoting Pat Chiko
To those who use DXY chart along with GU to trade. I got some noob question. I haven't seen this discussed much and would be good to get some feedback from some experienced traders that use this type of thinking/analysis in their assessments. For me the value of one pair must be comparable to something else for value to be properly evaluated, just by looking at the chart of GU one can not ascertain if this is good value to buy or sell because a piece of the puzzle is missing, what can one use to help this assessment. Is looking at long term DXY...
Not an experienced trader but have worked on the buy side for most of my adult life. IMO yes it's good for solving the puzzle of what direction GU will head in. We are trading a pair, the value of GBP relative to USD so for me it is a no brainer to watch the major levels on the dxy. Zoom out on DXY weekly/daily chart and you'll see a lot of the reason for the recent bullish movement on GU.

If you watch both in tandem you'll see some interesting dynamics occur too. Sometimes for example, you might see DXY making a strong move up but GU just staying static. It tells me that cable still has a higher level in the chart to reach for and is just being held back by dxy temporarily. So this helps me with intraday bias and I might be more inclined to buy GU especially when DXY meets resistance. Its just all part of the mosaic and bits of the puzzle. The last thing I posted about GU moving 1.3750-1.3850 was based on an anticipated down move on dxy and using S&D levels on GU as a frame to find entry and exit. Gilt yields like you say can help solve the puzzle, GBPEUR too. Now, that's all the easy stuff. The hard part is incorporating it into a workable trading plan with rules you can be confident in then applying it consistently. There can definitely be paralysis by overanalysis. Anyone interested I'd advise just watching both for 3 months, analyse both in tandem and write down what you observe.

Every trading methodology has flaws. For example I like to use S&D levels as I believe it is the most accurate way to analyse the market, IE just find the levels that the market movers use and trade off them. But ultimately you don't know which ones will hold or fail, so I use m5 PA and correlations to help solve the puzzle. I'm starting to look at the real volume/candle footprint too so I can really dial in entries and exits with tighter stops.
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