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Cable Update (GBPUSD)

  • #615,521
  • Aug 10, 2021 12:27pm Aug 10, 2021 12:27pm
As I said earlier 4hrs is just beginning and am not quitting now on 1hr. I use 4hr to follow up the trend
Make all mistakes in demo and rain in pips in live account
  • #615,522
  • Aug 10, 2021 12:45pm Aug 10, 2021 12:45pm
Trades are still running... TP1 @ 1.38225 TP2 1.38600
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My telegram: https://t.me/avidforex
  • #615,523
  • Aug 10, 2021 1:24pm Aug 10, 2021 1:24pm
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the choice is yours
  • #615,524
  • Aug 10, 2021 1:27pm Aug 10, 2021 1:27pm
Quoting elbert3
{image} the choice is yours
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  • #615,525
  • Aug 10, 2021 1:53pm Aug 10, 2021 1:53pm
And there is another rise… long to 13920 won’t kick in till we hit lower areas
Insane in the Brain..
  • #615,526
  • Aug 10, 2021 1:58pm Aug 10, 2021 1:58pm
Quoting mysterio
{quote} OK-fast approaching my intraweek target for the initial bear move, hunting for a long as soon as we hit 1.3825, PA dependent
It can easily go deeper-but we're back to daily supply on dxy too so it's worth a punt-will set stop to BE overnight likely and evaluate tomorrow

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  • #615,527
  • Aug 10, 2021 2:01pm Aug 10, 2021 2:01pm
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  • #615,528
  • Aug 10, 2021 2:23pm Aug 10, 2021 2:23pm
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yes yes yes
  • #615,529
  • Aug 10, 2021 2:38pm Aug 10, 2021 2:38pm
Daily is bearish, even on the lower time frame like 1 hour chart, the momentum is down.
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  • #615,530
  • Aug 10, 2021 3:16pm Aug 10, 2021 3:16pm
Quoting Techanalyst
Daily is bearish, even on the lower time frame like 1 hour chart, the momentum is down. {image} {image}
Great minds think alike
You have to have an IQ higher than 90 to interact with this user.
  • #615,531
  • Aug 10, 2021 3:51pm Aug 10, 2021 3:51pm
Quoting Techanalyst
Daily is bearish, even on the lower time frame like 1 hour chart, the momentum is down. {image} {image}
But what if...its all a façade? A cruel, hope-crushing game setup up by those on the Bulls side to loosen the pressure slightly..only so they can come back with the big guns? Let's say..London open?
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DXY showing falling wedge,
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which can be seen from GU's side too
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  • #615,532
  • Aug 10, 2021 4:13pm Aug 10, 2021 4:13pm
Quoting Nordling00
{quote} Great minds think alike
You're back! You have been away for a while you're good?
  • #615,533
  • Aug 10, 2021 4:14pm Aug 10, 2021 4:14pm
Quoting Amin1422
{quote} But what if...its all a façade? A cruel, hope-crushing game setup up by those on the Bulls side to loosen the pressure slightly..only so they can come back with the big guns? Let's say..London open?{image} DXY showing falling wedge,{image} which can be seen from GU's side too{image}
I trade based on fundamentals and using supply/demand as a confirmation to buy or sell. I do not use any patterns or anything like that, as fundamentals are the way to go and chart is there just to confirm buy/sell at best possible price. There is no what if's, there is a reason behind every move in trading.
  • #615,534
  • Aug 10, 2021 4:26pm Aug 10, 2021 4:26pm
Quoting Techanalyst
{quote} I trade based on fundamentals and using supply/demand as a confirmation to buy or sell. I do not use any patterns or anything like that, as fundamentals are the way to go and chart is there just to confirm buy/sell at best possible price. There is no what if's, there is a reason behind every move in trading.
I was being humble, I'm merely a guest here..and to talk like that is to only use hindsight, there must be ideas of where price will be in the future whether to set take profits or plan for contigencies, that's why you set up those stoplosses..."what if it breaks my zone?"
  • #615,535
  • Aug 10, 2021 4:31pm Aug 10, 2021 4:31pm
Quoting Amin1422
{quote} I was being humble, I'm merely a guest here..and to talk like that is to only use hindsight, there must be ideas of where price will be in the future whether to set take profits or plan for contigencies, that's why you set up those stoplosses..."what if it breaks my zone?"
Stop losses are there, so the account doesn't get blown.
  • #615,536
  • Aug 10, 2021 5:07pm Aug 10, 2021 5:07pm
Quoting Amin1422
{quote} What does that mean? Are you in so heavy that without the stoplosses your account would blow? Is that why you have so many positions? But that was a rather crude definition for a stoploss, there are other ways to stop an account being blown
I trade swing trading. So I am not glued to the screen like most of the traders are here on FF. So stop loss is there in case it goes against my position, and if it goes that high to where I placed my stop losses, it is calculated and risk management and I am prepare to lose that certain amount. That is what exactly that means.
I also have many positions yes and no I do not use mini lots, I use 0.50 lots and up, because I have a good amount of my own capital in my trading account. Any more questions?
  • #615,537
  • Aug 10, 2021 5:16pm Aug 10, 2021 5:16pm
Quoting Techanalyst
{quote} I trade swing trading. So I am not glued to the screen like most of the traders are here on FF. So stop loss is there in case it goes against my position, and if it goes that high to where I placed my stop losses, it is calculated and risk management and I am prepare to lose that certain amount. That is what exactly that means. I also have many positions yes and no I do not use mini lots, I use 0.50 lots and up, because I have a good amount of my own capital in my trading account. Any more questions?
Your missing out fun in the lower timeframes
  • #615,538
  • Aug 10, 2021 5:18pm Aug 10, 2021 5:18pm
Quoting Amin1422
{quote} Your missing out fun in the lower timeframes
When you learn to trade this professionally like banks and institutions traders do, you will never look lower timeframes. I look at mostly daily and it is gold to precisely enter either buy/sell positions. You are missing out on a big profits. But that is ok, one day when you decide to trade for a living you will understand what I mean. Until than, watch and learn.

See for example this AUDUSD trade was taken in Feb.2021. Closed it last week with a good profit.
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  • #615,539
  • Aug 10, 2021 5:33pm Aug 10, 2021 5:33pm
Quoting Techanalyst
{quote} When you learn to trade this professionally like banks and institutions traders do, you will never look lower timeframes. I look at mostly daily and it is gold to precisely enter either buy/sell positions. You are missing out on a big profits. But that is ok, one day when you decide to trade for a living you will understand what I mean. Until than, watch and learn. See for example this AUDUSD trade was taken in Feb.2021. Closed it last week with a good profit. {image} {image}
Timeframes don't gauge profitability but only the rate at which you close your trades..for W in L.
With respect, there is no way I will wait half a year to close a trade, that comes down to different personalities though ofc
  • #615,540
  • Aug 10, 2021 5:38pm Aug 10, 2021 5:38pm
Quoting Amin1422
{quote} Timeframes don't gauge profitability but only the rate at which you close your trades..for W in L. With respect, there is no way I will wait half a year to close a trade, that comes down to different personalities though ofc
There are only few people that can generate constantly income on lower timeframes. Very few. On a longer term frames it is possible and there are more traders successful swing trading. But before all of that, you need to understand and apply fundamentals, micro and macro trading. Otherwise you are just looking at fairytale patterns and you will blow your account. And other thing is, retail traders that trade low timeframes, need to stop thinking that they are like market makers. They are not and they will never be. Market makers also work for banks and financial institutions and they have better training and other resources available to them, compare to retail traders.
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