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Cable Update (GBPUSD)

  • #617,361
  • Aug 17, 2021 1:30pm Aug 17, 2021 1:30pm
Quoting mysterio
{quote} Cheers bro V interesting. 1.2 -- i don't think I can do the swing stuff I don't have the mindset for it. Yea thanks for the advice usually the issue I have is the same thing occasionally which is impatience and impulsivity i'm sure anyone can relate I'll study those charts cheers

I never had the mindset either..but u have to understand one thing..confidence, staying in a trade, getting 100's of pips in a trade etc.. Takes years of practice and building knowledge..learn the chart patterns, then identify them on the chart..everything happens precisely...if u dont understand it..then u simply have not got the knowledge yet, to someone out there it is something they can see clearly..after all this work when u feel u have a chance, work on your own psychology (most important) and keep developing yourself, push your boundaries always..trust your edge and play probability..Nobody knows 100%, they never will. But knowledge provides you strength and keeps u focused on task at hand..I think it is all about positive mindset

Eventually u will be able to trade without emotions and u see things on the chart in a completely different way, u stop seeing money just numbers. I never thought I would get to the stage where I could start to understand this and am pleased with my progress so far and feel I am going in this direction.

Note:- I think it is going south long term but it is just what i think..
  • #617,362
  • Aug 17, 2021 1:33pm Aug 17, 2021 1:33pm
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if price closes in that box and goes up it could ??? Could be a db but I would like to see it move down more .. emas are coming down so go get a drink and watch the show 4 hour chart
  • #617,363
  • Aug 17, 2021 1:41pm Aug 17, 2021 1:41pm
Quoting elbert3
4015393if price closes in that box and goes up it could ??? Could be a db but I would like to see it move down more .. emas are coming down so go get a drink and watch the show
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  • #617,364
  • Aug 17, 2021 1:51pm Aug 17, 2021 1:51pm
Euraud is in a downward trend if anyone wants to watch some other cross
  • #617,365
  • Aug 17, 2021 2:13pm Aug 17, 2021 2:13pm
Quoting Pip-Prophet
{quote} @Moty appears the shorts are more interested in the 1.3800-1.3780 zone as of now -Prophet
Seems that they were indeed more interested in the short.

-Prophet
  • #617,366
  • Aug 17, 2021 2:32pm Aug 17, 2021 2:32pm
Today GBP economic Data comes good and US economic Data comes bad. Yet GU move lower like opposite data impact.
I know some of the fundamentals traders with say many different story. I may miss their view.

But the truth is Economic data not gives true picture of the market movement. some people say market is 80% fundamental.
Probably.

This kind of opposite effect happen every month, Actually fundamental is a mystery.
MA provides the market's current direction and strength.
  • #617,367
  • Aug 17, 2021 2:32pm Aug 17, 2021 2:32pm
Quoting nAVIN2007
{quote} nothing moves in a straight line unless u flatline
Yup proper flatline a bit like my trading balance
Insane in the Brain..
  • #617,368
  • Aug 17, 2021 2:37pm Aug 17, 2021 2:37pm
Quoting mysterio
{quote} Cheers bro V interesting. 1.2 -- i don't think I can do the swing stuff I don't have the mindset for it. Yea thanks for the advice usually the issue I have is the same thing occasionally which is impatience and impulsivity i'm sure anyone can relate I'll study those charts cheers
Gbpusd is my baby. I love trading the pair because it can move when it decided to move. But the truth is that sometimes the pair gives mix signal that is hard to trade profitable.
Since yesterday, I was long bias based on the impulse I noted on 1hr chart but the 5min chart that signals my entry keeps making lower lows and I could lot enter until today when I risk very small position which I loose.
I was only able to take the risk based on the accumulated profit made by shorting usdjpy, shorting audusd.
So in effect, if you always want to be in the market, try other major pairs when our gpbusd is in a mess.
Trade safe mate ..,.......
  • #617,369
  • Aug 17, 2021 2:47pm Aug 17, 2021 2:47pm
Quoting IBabyTrader
{quote} Hello PAT, newbie Questions: 1) All I see are the continuous candles. How do I find a GAP and when it is filled? Is there any tutorial or lesson around? 2) What is GAP to start with? Thanks in advance bro.
Sorry Baby,

I missed your question.

Thousand apology for not answering it in flash.

This GAP is not the ordinary Weekends Gap.
It is Liquidity Gap (liquidity pocket) , created when price moved up/down without pulling back to the take off point. ( Demand/supply zone).

I know it's easier to say with hindsight, one thing I find quite useful is to always look at those long big thrusty momentum candles.
Those candles are areas without much back and forth price actions and so look like an empty space.
These are areas that will most likely (some would take a bit more time rather than immediately) get revisited.

They're known as 'liquidity gap' areas, which means areas without much liquidity/orders at the time of its occurrence because price moves too fast too quickly, and so there are orders waiting or trapped orders trying to get out break-even.

Liquidity gap behaviour ;
Markets tend to fill liquidity gaps all the time
As parabolic the move as fast the gap is filled
Swing points have similar structure.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #617,370
  • Aug 17, 2021 2:59pm Aug 17, 2021 2:59pm
Quoting mysterio
{quote} Ya I can't remember my last comment but it wasn't meant to be a dig. I think you said something along the lines of the market was wrong for going up or something but the market can move for technical as well as fundie reasons. Likely it was just profit taking on Friday or something. I'm sure if you could combine technical and fundamentals more you'd make even more pips. Or maybe you do I'm not sure I think it can support yeah because of this level.. whether it's a correction or full reversal I'm not sure I don't take a view However I tried...
Tomorrow is a buy between 1.3711-35, could go as far as 1.37 there is a h4 SW zone there

Will wait for frankfurt/LO as would like to see it do one more dive

PA dependent but should be solid bounce due to the untested daily level. Let's see
  • #617,371
  • Aug 17, 2021 3:14pm Aug 17, 2021 3:14pm
Quoting hasib
Today GBP economic Data comes good and US economic Data comes bad. Yet GU move lower like opposite data impact. I know some of the fundamentals traders with say many different story. I may miss their view. But the truth is Economic data not gives true picture of the market movement. some people say market is 80% fundamental. Probably. This kind of opposite effect happen every month, Actually fundamental is a mystery.

Actually, fundamental works but it is good for long term investor. That's what most big institution use in trading coupled with their technical analyst that tell them exactly when to enter trade.

For we daytraders, fundamental is not for us. That's why before release of fundamental data, we tend to close or reduce our open positions.

We daytraders trade in the now which is trading whatever our chart is telling us and not
What the fundamental is saying because we are not investors but daytrader.

Remember that some big player do get information on data result before it's release and base on these info place their bets during the data release. This is the reason you see big sharp directional move after data release.

Actually, what I'm trying to say is that after data release and there is no impulse reaction, forget about the data, it has already be discounted, and focus on your chart. If your chart do not give a clear conviction, just stay out.

These are my humble opinion......

Happy trading.....
  • #617,372
  • Aug 17, 2021 3:25pm Aug 17, 2021 3:25pm
Quoting Otiken
{quote} Actually, fundamental works but it is good for long term investor. That's what most big institution use in trading coupled with their technical analyst that tell them exactly when to enter trade. For we daytraders, fundamental is not for us. That's why before release of fundamental data, we tend to close or reduce our open positions. We daytraders trade in the now which is trading whatever our chart is telling us and not What the fundamental is saying because we are not investors but daytrader. Remember that some big player do get information...
Otiken, you hit the nail on the head with your post. All those fundamental investors with $2000.00 accounts trading off of the 30M chart should read your message at least twice a day. Happy to see common sense here. Congrats. Good luck with your trading.
Always trade your own plan...I don't provide trading signals.
  • #617,373
  • Aug 17, 2021 4:29pm Aug 17, 2021 4:29pm
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look left but we just broke a bit tl so 3750 area could be a level or the red line above the support line
  • #617,374
  • Aug 17, 2021 4:30pm Aug 17, 2021 4:30pm
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  • #617,375
  • Aug 17, 2021 5:10pm Aug 17, 2021 5:10pm
Quoting Otiken
{quote} Gbpusd is my baby. I love trading the pair because it can move when it decided to move. But the truth is that sometimes the pair gives mix signal that is hard to trade profitable. Since yesterday, I was long bias based on the impulse I noted on 1hr chart but the 5min chart that signals my entry keeps making lower lows and I could lot enter until today when I risk very small position which I loose. I was only able to take the risk based on the accumulated profit made by shorting usdjpy, shorting audusd. So in effect, if you always want to...
Thanks for the tips!
  • #617,376
  • Aug 17, 2021 6:15pm Aug 17, 2021 6:15pm
SELL XAUUSD @ 1786.59
TP 70 PIPS away
Stop loss 20 pips
My telegram: https://t.me/avidforex
  • #617,377
  • Aug 17, 2021 6:20pm Aug 17, 2021 6:20pm
SELL AUDNZD 1.04853
TP: 60 PIPS away
Stop 15pips
My telegram: https://t.me/avidforex
  • #617,378
  • Aug 17, 2021 6:30pm Aug 17, 2021 6:30pm
Trade is still fresh and running....
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My telegram: https://t.me/avidforex
  • #617,379
  • Aug 17, 2021 6:53pm Aug 17, 2021 6:53pm
XAUUSD ANALYSIS
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My telegram: https://t.me/avidforex
  • #617,380
  • Aug 17, 2021 7:07pm Aug 17, 2021 7:07pm
TP is price dependent
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