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Cable Update (GBPUSD)

  • #618,221
  • Aug 19, 2021 3:36pm Aug 19, 2021 3:36pm
Quoting fxmasterdxb
{quote} GU is being making it to choose sides! Breaking yesterdays low is a matter of time and next stop is between 1.3697-1.3680 with maximum extension of today being 3620
Again as expected, tomorrow is a different day, we will probably hit 1.36 and maybe go a little lower (max 1.3560) and then bounce back towards 1.3680-1.3720
  • #618,222
  • Aug 19, 2021 3:37pm Aug 19, 2021 3:37pm
Back home ,, i leave you for a day and WHATS GOING ON ,,, by the way get off the track ,, there could be a train coming soon
  • #618,223
  • Aug 19, 2021 3:39pm Aug 19, 2021 3:39pm
Quoting mashfx
{quote} you can't play that you are from "the poor country" card with us. we all know that Turkey is a developed country.
Now you talked like our fascist dictator Erdogan I suggest you to make a better research about Turkey's economy and gdp per capita.
You have to have an IQ higher than 90 to interact with this user.
  • #618,224
  • Aug 19, 2021 3:40pm Aug 19, 2021 3:40pm
Quoting Techanalyst
{quote} You can spot on daily, for example it hit the supply zone, and it is turning bearish. So you can go on lower time frames, and confirm the entry. Now when it goes down X amount of pips and you are scalper or day trader, you close it. You are not concern what is going to happen in weeks or months. If you are a long term trader, you would hold until it gets to demand zone, or until the price starts turning the other way, where it will create demand zone, and you can buy again and hold. Rince and repeat. But this is other proof, to show that...

Good post......

This is the way to go ...

If you are still struggling with your trades pls do reread this post until until you understand. Practice it in whatever is your entry strategy is and you will be surprised of your improvement.

I couldn't explain this post more than the author.
If you are trading 5min, 15min or 30min, never you trade against the daily chart timeframe. It doesn't worth it.

Thanks mate for the reminder.......
  • #618,225
  • Aug 19, 2021 3:48pm Aug 19, 2021 3:48pm
Quoting Pat Chiko
{quote} First entry is always a test to my set up. Getting the feel how the trade going to be. First of all, if the first trade goes against me right after entry, I have to consider that I may have picked a bad spot to enter. I mean, that's kind of obvious if it didn't go in our favor right away, right? We never let a small bad decision turn into a big bad decision. I'll exit with a small loss and try again later or on another day. If I try twice to get a trade on and fail both times, it's obvious something isn't working and I'll move to another...

Yea.......
Experience is the best teacher...
You are a fine trader I can see
Not many retail trader do this and this is the best way to trade the market
My humble opinion.........
  • #618,226
  • Aug 19, 2021 3:50pm Aug 19, 2021 3:50pm
mmmm not much trad talking as i have just read back a few pages ,,,more like potty talk ,,, come on guys this is a good thread , NOT SPOIL IT ,,
  • #618,227
  • Aug 19, 2021 3:53pm Aug 19, 2021 3:53pm
GU coming up to zone where I will buy tomorrow depending on m5 PA

Wait for Frankie stop hunts first
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  • #618,228
  • Aug 19, 2021 3:54pm Aug 19, 2021 3:54pm
Quoting Pat Chiko
{quote}...You will find it's very interesting to Scalp using H4 or Daily TF Chart. Give it a try. One things for sure, low risk and easy to identify set up compares to LTF as, it is less noisy. Regards PAT
Scalp trading means different things to different people. I agree that the the 4HR can be scalped. Observe the 4HR bias and then get in on a lower time frame, like you do, and then get out when the 4HR closes or when the price action is screaming at you to close your trade.

But it really doesn't matter what you call it. What matters is that you trade successfully on a consistent basis. I can see you are dong well from the charts you post. So keep doing what works for you.
Learn from your mistakes and march on.
  • #618,229
  • Aug 19, 2021 4:04pm Aug 19, 2021 4:04pm
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cheers guys mellow out . . The train is pulling into the station. Will it stop ??
  • #618,230
  • Aug 19, 2021 4:08pm Aug 19, 2021 4:08pm
GU next target , next week :

Monthly M2 1.3528
or
Monthly S2 1.3403

ServerUang
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  • #618,231
  • Edited 4:35pm Aug 19, 2021 4:19pm | Edited 4:35pm
Quoting here2there
{quote} Scalp trading means different things to different people. I agree that the the 4HR can be scalped. Observe the 4HR bias and then get in on a lower time frame, like you do, and then get out when the 4HR closes or when the price action is screaming at you to close your trade. But it really doesn't matter what you call it. What matters is that you trade successfully on a consistent basis. I can see you are dong well from the charts you post. So keep doing what works for you.
Having been around this stuff for only 8 months I agree I think you have to be able to identify horizontal levels were price moves are likely to occur. If you're an intraday trader/scalper then yes, to maximise your success then you have to be looking at levels on the H1/H4 chart.

I think saying you can't be consistently profitable on the m5 chart alone and it's a coin toss is extreme. But you would need a good edge, like an expert level understanding of price action, order flow, supply & demand, or something like that. You might be great at understanding ranges, or how price moves at highs/lows/opens/closes and be able to turn a consistent profit scalping. But by that point you'd probably have figured out you need to be looking at certain levels where the main moves happen.

To be really good at intraday trading you need to excel at both finding the horizontal levels and understand price action on the LTF chart, then the secret sauce is having the patience and discipline required to wait for the strong setups. This is the very hard part because with scalping your gains and losses are going to be very quick and very large and this will wreak havoc with your neurochemistry. You'll have feelings of greed and revenge almost every day so you have to be able to walk away when the time is right. I'd say on average during the day there are maybe 2-3 setups per day that are tradeable-- I just need to find one of those to make my target (20 pips a day or 100 a week). I'd bet anything the best intraday traders probably take less than 10 trades a week and probably closer to 5 or 6. I could try to make more but then I'd likely be less consistent and open myself to more impulsive decision making.

Quoting Nordling00
{quote} I lack capital coz i am young and from a kind of poor country i gotta admit. Were you making living from forex when you were 20? If yes, then you can judge me but i bet you didn't know shit when you were in my age. So you will never be in a place to judge me. I have figured out how to make my money work at a young age and you are just jealous.
Sorry just had to reply to this-- yeah, when I was 20 I didn't know my arse from my elbow, fair play to you. I was unbelievably stupid at that age. If you've figured out a system based on fundamentals that makes profit consistently then good on you. No need to get involved in petty fights though, just rise above it. I can guarantee you successful traders are not getting involved in stupid fights on internet forums, they're out enjoying life.
  • #618,232
  • Aug 19, 2021 4:31pm Aug 19, 2021 4:31pm
Best buying area tomorrow is 1.3670-1.3630
  • #618,233
  • Aug 19, 2021 4:40pm Aug 19, 2021 4:40pm
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  • #618,234
  • Aug 19, 2021 6:15pm Aug 19, 2021 6:15pm
Quoting M.Fadly
{image}
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Like me, cuts losses quickly. But has more patience and lets his winn
  • #618,235
  • Aug 19, 2021 6:32pm Aug 19, 2021 6:32pm
Yesterday all my SL hit . Same plan again. Buying with low risk again .
Will see the next support area near 1.36000
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #618,236
  • Aug 19, 2021 6:35pm Aug 19, 2021 6:35pm
Inserted Video



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Like me, cuts losses quickly. But has more patience and lets his winn
  • #618,237
  • Aug 19, 2021 7:31pm Aug 19, 2021 7:31pm
Quoting kris89
Yesterday all my SL hit . Same plan again. Buying with low risk again . Will see the next support area near 1.36000
yes, for me too.

Asian trade, London trade and NY trade... all stops were hit.

Closed my mt4 after that
Intraday only.
  • #618,238
  • Aug 19, 2021 8:24pm Aug 19, 2021 8:24pm
I think time to long above 1.36000 next target resisten 1.379000
sl 1.35500
Like me, cuts losses quickly. But has more patience and lets his winn
  • #618,239
  • Aug 19, 2021 8:39pm Aug 19, 2021 8:39pm
Quoting M.Fadly
I think time to long above 1.36000 next target resisten 1.379000 sl 1.35500
Not time yet... Support broken again
My telegram: https://t.me/avidforex
  • #618,240
  • Aug 19, 2021 8:49pm Aug 19, 2021 8:49pm
Quoting erap
{image}
Attached Image (click to enlarge)
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