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Cable Update (GBPUSD)

  • #621,141
  • Edited 5:05am Sep 3, 2021 4:54am | Edited 5:05am
Quoting jmss59
The price is in a manipulation zone, if the price at the close of the candle breaks the 1.3850 level, the price can go to the 1.3871 zone and if it breaks 1.3825 it can go to the 1.3800 zone {image}
Super Chart
Simple and very informative
seems excellent for Risk / Reward and money management

p.s

I have added a few extras just to confuse me
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  • #621,142
  • Sep 3, 2021 5:03am Sep 3, 2021 5:03am
I am unable to foresee any retracement considering correlated pairs. Unless news changes it. Pair should start the bull move unless 3220 is violated.
Fools Rushing
  • #621,143
  • Sep 3, 2021 5:04am Sep 3, 2021 5:04am
Waiting for NFP to trigger my sell limit
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  • #621,144
  • Edited 5:22am Sep 3, 2021 5:10am | Edited 5:22am
Quoting Pat Chiko
{quote} GU Add scalping position. Tight range till NFP {image}
excellent time to sell.

i think the probability it goes down is high odds are in favour of the bear. however it can go up its just that odds favour the bear imo at this point in time.


what determines your entry criteria?

Additionally i see the 6hr dollar index stochastic has turned up is pointing up i would prefer the 8hr which later. nevertheless it has turned up and price is at support.

if the dollar strenghthens GU can go further down.
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Trend_Masters
  • #621,145
  • Sep 3, 2021 5:17am Sep 3, 2021 5:17am
Quoting fxmasterdxb
Waiting for NFP to trigger my sell limit {image}
What area your looking at? I’m looking to short at 13875
Insane in the Brain..
  • #621,146
  • Sep 3, 2021 5:20am Sep 3, 2021 5:20am
Quoting BeeTogether
{quote} What area your looking at? I’m looking to short at 13875
Well 1.3845-60 is ideal for me, wouldnt mind if it hits 1.3875 though
  • #621,147
  • Sep 3, 2021 5:26am Sep 3, 2021 5:26am
Quoting Pat Chiko
{quote} GU Add scalping position. Tight range till NFP {image}
GU

Price Action observation.

So at this point, what do we have?

We essentially only have an entry condition where we are confident that when x,y and z align in a certain way the outcome over many instances should be within some statistical expectation.
Does this mean you have a winning system and can conquer the world?

If only it were so easy...

At this point - which honestly is the point that many traders stop at, if they even define things so precisely at all - you simply know when to enter the market.
That’s it.

At the same time we must understand the concept of money management, stop placement (fixed pip or varying based on recent volatility), or exit conditions.
How do we go about defining those?

In much the same way as you defined the entry.
By looking at 1000s of occurrences where your system produced an entry, and then meticulously testing variations of all of the above.

Sounds pretty tedious right?
Well, it is, but it is double for those with patience and reasonable logical faculties.

Trade Safe

PAT

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #621,148
  • Sep 3, 2021 5:32am Sep 3, 2021 5:32am
Quoting kerndc
{quote} excellent time to sell. i think the probability it goes down is high odds are in favour of the bear. however it can go up its just that odds favour the bear imo at this point in time. what determines your entry criteria? Additionally i see the 6hr dollar index stochastic has turned up is pointing up i would prefer the 8hr which later. nevertheless it has turned up and price is at support. if the dollar strenghthens GU can go further down. {image}

More to Price action at LTF, after new H4 candle formed.-
If the levels are selected (in this case H4) well enough you can still observe price action on the lower time frames (H1/M30) to see if you get some reaction from them before entering.


Here's the chart.

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #621,149
  • Sep 3, 2021 5:39am Sep 3, 2021 5:39am
Today GU target yesterday's open. Next week is only sell
  • #621,150
  • Sep 3, 2021 5:39am Sep 3, 2021 5:39am
Quoting Pat Chiko
{quote} More to Price action at LTF, after new H4 candle formed. Here's the chart. {image}
Couldnt agree with you more, ive personally jumped to early with sells from 3822 and 3833 but targets are almost the same.
Consistency will bring everything...Be good.
100% Is The Target v.1 All Time Return: -95.4%
  • #621,151
  • Sep 3, 2021 5:42am Sep 3, 2021 5:42am
Quoting Cr4zy
short scalp orders {image}
Reducing yesterday’s trading exposure in preparation for NFP.
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  • #621,152
  • Sep 3, 2021 5:43am Sep 3, 2021 5:43am
Quoting BeeTogether
{quote} What area your looking at? I’m looking to short at 13875
Lost steem in Asia session.
Likely is going to retrace before next leg up. Downtrend will change to uptrend in a few hours.
Of course anything can happen, it's Friday.
  • #621,153
  • Sep 3, 2021 5:44am Sep 3, 2021 5:44am
In the short term, I will continue to strengthen the short side.
  • #621,154
  • Sep 3, 2021 5:53am Sep 3, 2021 5:53am
Something I got to share with everyone here on the subject of :-

Paralyzed Trading

Received some comment in Private Message :

“Seems every trade I don't take wins and every trade I take loses

This is a big problem with a lot of traders.
My only advice for this is too keep on going and forget about the losers FAST and worry about what’s coming next.

We had one trader where we had to move a losing position into another account for him because it was messing with his head so much he was starting to fault on newer trades.

That’s why I like to stress closing losers promptly and moving onto the next trade in order to minimize any blows from bad positions.

Losses happen; how quickly you pick up from them and get back in the drivers seat is another story.
Patience, practice patience and keep the ball rolling.

Have a plan and keep it in place.

Trade safe.

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #621,155
  • Sep 3, 2021 5:57am Sep 3, 2021 5:57am
GU

First trouble area.

One may closed partial if not confident of trade to slide down further.
Take it easy.
A bit but consistent

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #621,156
  • Sep 3, 2021 6:01am Sep 3, 2021 6:01am
Pat I think we have all learnt from your charts. I know it has helped to consolidate my knowledge base. Thank you
  • #621,157
  • Sep 3, 2021 6:02am Sep 3, 2021 6:02am
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  • #621,158
  • Sep 3, 2021 6:03am Sep 3, 2021 6:03am
Quoting Pat Chiko
GU First trouble area. One may closed partial if not confident of trade to slide down further. Take it easy. A bit but consistent {image}
Now this is the kind of educational content that I find really helpful.

I've been lurking for a while now and through your charts you've taught me what to look for in a trade and how to execute on it.

Thank you for that.
  • #621,159
  • Sep 3, 2021 6:08am Sep 3, 2021 6:08am
Quoting Pat Chiko
{quote} GU Price Action observation. So at this point, what do we have? We essentially only have an entry condition where we are confident that when x,y and z align in a certain way the outcome over many instances should be within some statistical expectation. Does this mean you have a winning system and can conquer the world? If only it were so easy... At this point - which honestly is the point that many traders stop at, if they even define things so precisely at all - you simply know when to enter the market. That’s it. At the same time we must...
what does those numbers mean?
  • #621,160
  • Sep 3, 2021 6:09am Sep 3, 2021 6:09am
GBPUSD scalp.
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